MTN Ghana (XGHA:MTNGH) EBIT: GHS13,437 Mil (TTM As of Mar. 2026)


XGHA:MTNGH MTN Ghana XGHA:MTNGH
100 GF Score
Price GHS6.40
GF Value GHS4.21
Valuation Significantly Overvalued
! 6 Warning Signs
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What is MTN Ghana EBIT?

MTN Ghana XGHA:MTNGH -0.31% 100 EBIT is GHS13,437 Mil as of Mar. 2026. GuruFocus rates XGHA:MTNGH with a GF Score™ of 100/100 and a GF Value™ of GHS4.21 (Significantly Overvalued). The stock has 6 warning signs investors should review.

MTN Ghana's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was GHS3,802 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was GHS13,437 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. MTN Ghana's annualized ROC % for the quarter that ended in Mar. 2026 was 27.20%. MTN Ghana's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 111.77%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. MTN Ghana's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 16.37%.


MTN Ghana  (XGHA:MTNGH) EBIT Explanation

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

MTN Ghana'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 )
=14631.036 * ( 1 - 30.53% )/( (57697.427 + 17050.415)/ 2 )
=10164.1807092/37373.921
=27.20 %

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))
=62391.057 - 2199.165 - ( 5319.055 - max(0, 43484.106 - 45978.571+5319.055))
=57697.427

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))
=24642.353 - 4028.988 - ( 6408.998 - max(0, 5128.438 - 8691.388+6408.998))
=17050.415

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 Ghana'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 )
=15207.304/( ( (13822.702 + max(-2553.114, 0)) + (13388.59 + max(-2265.605, 0)) )/ 2 )
=15207.304/( ( 13822.702 + 13388.59 )/ 2 )
=15207.304/13605.646
=111.77 %

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)
=(605.958 + 29.503 + 39768.846) - (2199.165 + 0 + 40758.256)
=-2553.114

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(895.609 + 44.31 + 1342.471) - (4028.988 + 0 + 519.007)
=-2265.605

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 Ghana's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=13436.827/82106.509
=16.37 %

* 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 Ghana EBIT Related Terms


MTN Ghana EBIT Historical Data

* Premium members only.

The historical data trend for MTN Ghana'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 Ghana EBIT Chart

MTN Ghana Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only 3,202.85 4,468.16 6,120.40 8,494.38 12,291.06

MTN Ghana 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 2,656.06 2,836.72 2,848.27 3,950.01 3,801.83

XGHA:MTNGH vs TMUS, VZ, T: EBIT Comparison

For the Telecom Services subindustry, MTN Ghana'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 Ghana EV-to-EBIT vs Telecommunication Services Industry

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

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


XGHA:MTNGH
100GF Score
MTN Ghana XGHA:MTNGH
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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MTN Ghana 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 GHS13,437 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 GHS13,437 Mil mean?
MTN Ghana (XGHA:MTNGH) has a EBIT of GHS13,437 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on MTN Ghana.
Is MTN Ghana's EBIT too high?
MTN Ghana's current EBIT is GHS13,437 Mil. Overall, MTN Ghana has a GF Score™ of 100/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does MTN Ghana's EBIT compare to TMUS and VZ?
MTN Ghana's EBIT of GHS13,437 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 Ghana. MTN Ghana's current EBIT is GHS13,437 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MTN Ghana stock overvalued right now?
Based on GuruFocus' analysis, MTN Ghana (XGHA:MTNGH) is currently considered Significantly Overvalued. The stock's GF Value™ is GHS4.21, compared to a current price of GHS6.40 — trading 52% above its estimated fair value. The current EBIT is GHS13,437 Mil. MTN Ghana's overall GF Score™ is 100/100 with 6 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 Ghana (XGHA:MTNGH), the current EBIT is GHS13,437 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 Ghana (XGHA:MTNGH) Overvalued in 2026?

Based on GuruFocus' analysis, MTN Ghana stock appears to be overvalued. The current stock price of GHS6.40 is trading 52% above its estimated GF Value™ of GHS4.21. GuruFocus considers MTN Ghana to be Significantly Overvalued.

Key valuation signals for XGHA:MTNGH:

  • EBIT: GHS13,437 Mil
  • GF Value™: GHS4.21 vs. price of GHS6.40 (52% above fair value)
  • GF Score™: 100/100 with 6 warning signs

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


MTN Ghana Business Description

Address MTN House, Independence Avenue, West Ridge, Plot OER 6, Accra, GHA
MTN Ghana is a Ghana-based company that provides mobile financial services in the financial services industry. The principal activities are the provision of telecommunication services including voice, data, and enterprise solutions, mobile financial services, the development of strategic partnerships to provide developed services, and the provision of consultancy and support services in the mobile banking, payment services and fintech space. The company has four reportable segments, namely Network services, Interconnect and roaming, Digital and Fintech, and devices and accessories, out of which it derives maximum revenue from Network services.
100GF Score

Get the complete analysis for XGHA:MTNGH

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

GHS6.40
Price
GHS4.21
GF Value