MTN Group Limited (MTNOY)
Communication Services · PNK
Fundamentals
Valuation and ratings
MTN Group Limited trades at USD13.51, which is 85% below the USD25.03 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 70 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 20.9 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
MTNOY dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.297 | 1 |
| 2025 | USD0.182 | 1 |
| 2024 | USD0.174 | 1 |
| 2023 | USD0.179 | 1 |
| 2022 | USD0.199 | 1 |
| 2020 | USD0.214 | 1 |
| 2019 | USD0.355 | 2 |
| 2018 | USD0.499 | 2 |
| 2017 | USD0.535 | 2 |
| 2016 | USD0.716 | 2 |
| 2015 | USD1.02 | 2 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About MTN Group Limited
MTN Group Limited, together with its subsidiaries, provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa. The company offers data, voice and SMS, interconnect, and roaming services; and sells mobile devices. It also provides digital and fintech services, such as value-added services, rich media services, insurance, airtime lending, in-store payments, remittances, prepaid services, and e-commerce services; and MTN Mobile Money fintech platform. In addition, the company offers managed network services, cloud, unified communications, internet of things, and security as a service; network as a services, including subsea cables, terrestrial and metro fibre, data centre and cable landing stations, and towers and radio access network assets; and marketplace solutions for government agencies, insurance firms, banking institutions, and SMEs. MTN Group Limited was incorporated in 1994 and is based in Johannesburg, South Africa.
MTNOY passes 5 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is MTN Group Limited (MTNOY) undervalued?
Against our discounted cash flow estimate of USD25.03, MTNOY at USD13.51 is 85% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is MTNOY's P/E ratio?
MTNOY trades at 20.9 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does MTN Group Limited (MTNOY) pay a dividend?
Yes. MTN Group Limited yields 2.14% at the current share price. It has paid USD0.297 per share over the trailing twelve months. It has paid a dividend in each of the last 4 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.