MTN Nigeria Communications (NSA:MTNN) EBIT: ₦2,540,338 Mil (TTM As of Mar. 2026)


NSA:MTNN MTN Nigeria Communications PLC NSA:MTNN
85 GF Score
Price ₦830.00
GF Value ₦612.30
Valuation Significantly Overvalued
! 3 Warning Signs
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What is MTN Nigeria Communications EBIT?

MTN Nigeria Communications NSA:MTNN 85 EBIT is ₦2,540,338 Mil as of Mar. 2026. GuruFocus rates NSA:MTNN with a GF Score™ of 85/100 and a GF Value™ of ₦612.30 (Significantly Overvalued). The stock has 3 warning signs investors should review.

MTN Nigeria Communications's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was ₦667,051 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was ₦2,540,338 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. MTN Nigeria Communications's annualized ROC % for the quarter that ended in Mar. 2026 was 28.68%. MTN Nigeria Communications's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 71.88%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. MTN Nigeria Communications's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 13.17%.

MTN Nigeria Communications  (NSA:MTNN) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

MTN Nigeria Communications's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=2518616 * ( 1 - 34.94% )/( (5536563 + 5890224)/ 2 )
=1638611.5696/5713393.5
=28.68 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=5403489 - 861257 - ( 794756 - max(0, 2248419 - 1254088+794756))
=5536563

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=5849193 - 1037777 - ( 871123 - max(0, 2434027 - 1355219+871123))
=5890224

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

MTN Nigeria Communications's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2668204/( ( (3570401 + max(-1574591, 0)) + (3853263 + max(-1739989, 0)) )/ 2 )
=2668204/( ( 3570401 + 3853263 )/ 2 )
=2668204/3711832
=71.88 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(126729 + 23298 + 146522) - (861257 + 0 + 1009883)
=-1574591

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(138231 + 19441 + 183665) - (1037777 + 0 + 1043549)
=-1739989

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

MTN Nigeria Communications's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=2540338/19293897.852
=13.17 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

MTN Nigeria Communications EBIT Related Terms

MTN Nigeria Communications EBIT Historical Data

* Premium members only.

The historical data trend for MTN Nigeria Communications's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

MTN Nigeria Communications EBIT Chart

MTN Nigeria Communications Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial 572,309.00 664,476.00 50,165.00 -127,383.00 2,216,659.00

MTN Nigeria Communications Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 343,373.00 552,876.00 631,534.00 688,877.00 667,051.00

NSA:MTNN vs TMUS, VZ, T: EBIT Comparison

For the Telecom Services subindustry, MTN Nigeria Communications's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

MTN Nigeria Communications EV-to-EBIT vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, MTN Nigeria Communications's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where MTN Nigeria Communications's EV-to-EBIT falls into.


NSA:MTNN
85GF Score
MTN Nigeria Communications PLC NSA:MTNN
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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MTN Nigeria Communications EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₦2,540,338 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of ₦2,540,338 Mil mean?
MTN Nigeria Communications (NSA:MTNN) has a EBIT of ₦2,540,338 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on MTN Nigeria Communications.
Is MTN Nigeria Communications' EBIT too high?
MTN Nigeria Communications' current EBIT is ₦2,540,338 Mil. Overall, MTN Nigeria Communications has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does MTN Nigeria Communications' EBIT compare to TMUS and VZ?
MTN Nigeria Communications' EBIT of ₦2,540,338 Mil can be compared against companies in the Telecommunication Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Telecommunication Services company?
A good EBIT depends on the Telecommunication Services industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on MTN Nigeria Communications. MTN Nigeria Communications's current EBIT is ₦2,540,338 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MTN Nigeria Communications stock overvalued right now?
Based on GuruFocus' analysis, MTN Nigeria Communications (NSA:MTNN) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦612.30, compared to a current price of ₦830.00 — trading 35.6% above its estimated fair value. The current EBIT is ₦2,540,338 Mil. MTN Nigeria Communications' overall GF Score™ is 85/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For MTN Nigeria Communications (NSA:MTNN), the current EBIT is ₦2,540,338 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is MTN Nigeria Communications (NSA:MTNN) Overvalued in 2026?

Based on GuruFocus' analysis, MTN Nigeria Communications stock appears to be overvalued. The current stock price of ₦830.00 is trading 35.6% above its estimated GF Value™ of ₦612.30. GuruFocus considers MTN Nigeria Communications to be Significantly Overvalued.

Key valuation signals for NSA:MTNN:

  • EBIT: ₦2,540,338 Mil
  • GF Value™: ₦612.30 vs. price of ₦830.00 (35.6% above fair value)
  • GF Score™: 85/100 with 3 warning signs

No single metric tells the full story. See the NSA:MTNN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

MTN Nigeria Communications Business Description

Address 4 Aromire Road, Off Alfred Rewane, Ikoyi, Lagos, NGA
MTN Nigeria Communications PLC is a provider of communications services. The principal activities of the company are the provision of broadband fixed wireless access service, mobile broadband solutions, and fibre-to-the-home connectivity. The group operates in three reportable segments, namely, Consumer Business Unit (CBU), which consists of subscribers sitting in value propositions and tariff plans for Youth, High Value, and Mass segments, Enterprise Business Unit (EBU), which consists of small and medium organizations to whom the services are provided, and Wholesale Business Unit (WBU), which serves customers who buy MTN telecom products. The majority of the revenue is generated from the CBU segment.
85GF Score

Get the complete analysis for NSA:MTNN

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₦830.00
Price
₦612.30
GF Value