Airtel AfricaMEX:AAFN 39 Operating Margin % is 33.81% as of Mar. 2026, which is 15% above its 10-year median of 29.38. GuruFocus rates MEX:AAFN with a GF Score™ of 39/100 and a GF Value™ of MXN40.33 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 367 Telecommunication Services companies, Airtel Africa ranks better than 91.55% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Airtel Africa's Operating Income for the
three
months ended in Mar. 2026 was MXN10,657 Mil. Airtel Africa's Revenue for the
three
months ended in Mar. 2026 was MXN31,521 Mil. Therefore, Airtel Africa's Operating Margin % for the quarter that ended in Mar. 2026 was 33.81%.
Good Sign:
Airtel Africa PLC operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for Airtel Africa's Operating Margin % or its related term are showing as below:
MEX:AAFN'
s Operating Margin % Range Over the Past 10 Years
Min: 6 Med: 29.38 Max: 33.7
Current: 33.15
MEX:AAFN's Operating Margin % is ranked better than 91.55% of 367
companies
in the Telecommunication Services industry
Industry Median: 9.73
vs MEX:AAFN: 33.15
Airtel Africa's 5-Year Average Operating Margin % Growth Rate was 0.90% per year.
Airtel Africa's Operating Income for the
three
months ended in Mar. 2026 was MXN10,657 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was MXN38,840 Mil.
Airtel Africa (MEX:AAFN) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Airtel Africa Operating Margin % Related Terms
Airtel Africa Operating Margin % Historical Data
* Premium members only.
The historical data trend for Airtel Africa's Operating Margin % 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.
MEX:AAFN vs TMUS, VZ, T: Operating Margin % Comparison
For the Telecom Services subindustry, Airtel Africa's Operating Margin %, along with its competitors' market caps and Operating Margin % 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.
Airtel Africa Operating Margin % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Airtel Africa's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Airtel Africa's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Airtel Africa's Operating Margin % for the fiscal year that ended in Mar. 2026 is calculated as
* 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.
Airtel Africa (MEX:AAFN) has a Operating Margin % of 33.81% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Airtel Africa and its competitors. This is 15% above median its historical median of 29.38. Over the past decade, Airtel Africa's Operating Margin % has ranged from 6.00 to 33.70. According to the industry distribution chart, Airtel Africa ranks #31 out of 367 companies in the Telecommunication Services industry, placing it in the top 8.4%.
Is Airtel Africa's Operating Margin % too high?
Airtel Africa's current Operating Margin % of 33.81% is 15% above median its 10-year median of 29.38. Over the past 10 years, this metric has ranged from a low of 6.00 to a high of 33.70. The Telecommunication Services industry median Operating Margin % is 9.73. Airtel Africa's value of 33.81% is 247.5% above this industry median. Based on the distribution chart, Airtel Africa ranks #31 out of 367 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, Airtel Africa has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Airtel Africa's Operating Margin % compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Airtel Africa ranks #31 out of 367 companies for Operating Margin %. This places Airtel Africa in the top 8% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 9.73. Airtel Africa's value of 33.81% is 247.5% above this benchmark. Historically, Airtel Africa's own Operating Margin % has ranged from 6.00 to 33.70 over the past decade. While the company's 10-year median is 29.38 vs. the industry median of 9.73, Airtel Africa has consistently been above 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 Operating Margin % for a Telecommunication Services company?
The median Operating Margin % among Telecommunication Services companies is 9.73, based on 367 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Airtel Africa's current Operating Margin % of 33.81% is 247.5% above 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 Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Airtel Africa and its competitors. For the Telecommunication Services industry, the median Operating Margin % is 9.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Airtel Africa's current Operating Margin % is 33.81%, which is 15% above median its own 10-year median of 29.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Airtel Africa stock overvalued right now?
Based on GuruFocus' analysis, Airtel Africa (MEX:AAFN) is currently considered Significantly Overvalued. The stock's GF Value™ is MXN40.33, compared to a current price of MXN86.92 — trading 115.5% above its estimated fair value. The current Operating Margin % is 33.81%, which is 15% above median its 10-year median of 29.38 and 247.5% above the Telecommunication Services industry median of 9.73. Airtel Africa's overall GF Score™ is 39/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Airtel Africa (MEX:AAFN), the current Operating Margin % is 33.81% 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 Airtel Africa (MEX:AAFN) Overvalued in 2026?
Based on GuruFocus' analysis, Airtel Africa stock appears to be overvalued.
The current stock price of MXN86.92 is trading 115.5% above its estimated GF Value™ of MXN40.33.
GuruFocus considers Airtel Africa to be Significantly Overvalued.
Key valuation signals for MEX:AAFN:
Operating Margin %: 33.81% (15% above median its 10-year median of 29.38)
GF Value™: MXN40.33 vs. price of MXN86.92 (115.5% above fair value)
Industry Position: 247.5% above the Telecommunication Services median (#31 of 367)
No single metric tells the full story. See the MEX:AAFN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Airtel Africa PLC is a telecoms and financial services provider transforming lives across the continent through increased digital and financial inclusion. The principal activities of the Group mainly consist of the provision of telecommunications and mobile money services. Its services include Voice, Data, Mobile money, Enterprise, and Data centers. The Group's operating segments are Nigeria mobile services, East Africa mobile services, Francophone Africa mobile services, and Mobile money. It generates maximum revenue from East Africa mobile services, comprising mobile service operations in Uganda, Kenya, Zambia, Tanzania, Malawi, and Rwanda.
39GF Score
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