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MTN GroupJSE:MTN -0.43%81 EV-to-FCF is 12.80 as of Jul. 18, 2026, which is 3% below its 10-year median of 13.22. GuruFocus rates JSE:MTN with a GF Score™ of 81/100 and a GF Value™ of R154.66 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 249 Telecommunication Services companies, MTN Group ranks better than 60.24% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, MTN Group's Enterprise Value is R456,131 Mil.
MTN Group's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was R35,649 Mil. Therefore, MTN Group's EV-to-FCF for today is 12.80.
The historical rank and industry rank for MTN Group's EV-to-FCF or its related term are showing as below:
JSE:MTN'
s EV-to-FCF Range Over the Past 10 Years
Min: -21.28 Med: 13.22 Max: 72.61
Current: 12.57
During the past 13 years, the highest EV-to-FCF of MTN Group was 72.61. The lowest was -21.28. And the median was 13.22.
JSE:MTN's EV-to-FCF is ranked better than 60.24% of 249
companies
in the Telecommunication Services industry
Industry Median: 15.2
vs JSE:MTN: 12.57
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
MTN Group's share price for today is R232.99.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. MTN Group's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was R11.058.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
MTN Group EV-to-FCF Related Terms
MTN Group EV-to-FCF Historical Data
* Premium members only.
The historical data trend for MTN Group's EV-to-FCF 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.
For the Telecom Services subindustry, MTN Group's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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 Group EV-to-FCF vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, MTN Group's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where MTN Group's EV-to-FCF falls into.
MTN Group's current Enterprise Value is R456,131 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. MTN Group's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was R35,649 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.
MTN Group (JSE:MTN) has a EV-to-FCF of 12.80 as of Jul. 18, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on MTN Group and its competitors. This is near median its historical median of 13.22. According to the industry distribution chart, MTN Group ranks #99 out of 249 companies in the Telecommunication Services industry, placing it in the top 39.8%.
Is MTN Group's EV-to-FCF too high?
MTN Group's current EV-to-FCF of 12.80 is near median its 10-year median of 13.22. The Telecommunication Services industry median EV-to-FCF is 15.20. MTN Group's value of 12.80 is 15.8% below this industry median. Based on the distribution chart, MTN Group ranks #99 out of 249 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, MTN Group has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does MTN Group's EV-to-FCF compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, MTN Group ranks #99 out of 249 companies for EV-to-FCF. This puts MTN Group in the upper half of its industry. The industry median EV-to-FCF is 15.20. MTN Group's value of 12.80 is 15.8% below this benchmark. While the company's 10-year median is 13.22 vs. the industry median of 15.20, MTN Group has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Telecommunication Services company?
The median EV-to-FCF among Telecommunication Services companies is 15.20, based on 249 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MTN Group's current EV-to-FCF of 12.80 is 15.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on MTN Group and its competitors. For the Telecommunication Services industry, the median EV-to-FCF is 15.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MTN Group's current EV-to-FCF is 12.80, which is near median its own 10-year median of 13.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MTN Group stock overvalued right now?
Based on GuruFocus' analysis, MTN Group (JSE:MTN) is currently considered Significantly Overvalued. The stock's GF Value™ is R154.66, compared to a current price of R232.99 — trading 50.6% above its estimated fair value. The current EV-to-FCF is 12.80, which is near median its 10-year median of 13.22 and 15.8% below the Telecommunication Services industry median of 15.20. MTN Group's overall GF Score™ is 81/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For MTN Group (JSE:MTN), the current EV-to-FCF is 12.80 as of Jul. 18, 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 Group (JSE:MTN) Overvalued in 2026?
Based on GuruFocus' analysis, MTN Group stock appears to be overvalued.
The current stock price of R232.99 is trading 50.6% above its estimated GF Value™ of R154.66.
GuruFocus considers MTN Group to be Significantly Overvalued.
Key valuation signals for JSE:MTN:
EV-to-FCF: 12.80 (near median its 10-year median of 13.22)
GF Value™: R154.66 vs. price of R232.99 (50.6% above fair value)
Industry Position: 15.8% below the Telecommunication Services median (#99 of 249)
No single metric tells the full story. See the JSE:MTN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MTN Group Ltd is a mobile telecommunications provider. The company also has a joint venture in Iran. From a product perspective, the majority of its revenue is from voice and data. Other contributors include SMS and sale of devices revenue. MTN also provides enterprise services to small/midsize enterprises and corporate clients. The company owns the mobile infrastructure and data centers. Its segments include Network services, Mobile devices, Interconnect and roaming, Digital and fintech and others. It derives maximum revenue from Network Services segment. Geographically, the company operates across South Africa, Nigeria, South and East Africa (SEA), GHASEA, Middle East and North Africa (MENA). The majority of the company's revenue is earned in and Nigeria.
81GF Score
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