MTN GroupSTU:LL6A 81 Operating Margin % is 29.49% as of Dec. 2025, which is 39% above its 10-year median of 21.25. GuruFocus rates STU:LL6A with a GF Score™ of 81/100 and a GF Value™ of €7.97. The stock has 8 warning signs investors should review. Among 367 Telecommunication Services companies, MTN Group ranks better than 88.28% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. MTN Group's Operating Income for the
six
months ended in Dec. 2025 was €1,757 Mil. MTN Group's Revenue for the
six
months ended in Dec. 2025 was €5,959 Mil. Therefore, MTN Group's Operating Margin % for the quarter that ended in Dec. 2025 was 29.49%.
The historical rank and industry rank for MTN Group's Operating Margin % or its related term are showing as below:
STU:LL6A'
s Operating Margin % Range Over the Past 10 Years
Min: 13.13 Med: 21.25 Max: 28.16
Current: 28.16
STU:LL6A's Operating Margin % is ranked better than 88.28% of 367
companies
in the Telecommunication Services industry
Industry Median: 9.73
vs STU:LL6A: 28.16
MTN Group's 5-Year Average Operating Margin % Growth Rate was -0.20% per year.
MTN Group's Operating Income for the
six
months ended in Dec. 2025 was €1,757 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €3,178 Mil.
MTN Group (STU:LL6A) 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.
MTN Group Operating Margin % Related Terms
MTN Group Operating Margin % Historical Data
* Premium members only.
The historical data trend for MTN Group'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.
STU:LL6A vs TMUS, VZ, T: Operating Margin % Comparison
For the Telecom Services subindustry, MTN Group'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.
MTN Group Operating Margin % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, MTN Group's Operating Margin % distribution charts can be found below:
* The bar in red indicates where MTN Group'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.
MTN Group's Operating Margin % for the fiscal year that ended in Dec. 2025 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.
MTN Group (STU:LL6A) has a Operating Margin % of 29.49% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on MTN Group and its competitors. This is 39% above median its historical median of 21.25. Over the past decade, MTN Group's Operating Margin % has ranged from 13.13 to 28.16. According to the industry distribution chart, MTN Group ranks #43 out of 367 companies in the Telecommunication Services industry, placing it in the top 11.7%.
Is MTN Group's Operating Margin % too high?
MTN Group's current Operating Margin % of 29.49% is 39% above median its 10-year median of 21.25. Over the past 10 years, this metric has ranged from a low of 13.13 to a high of 28.16. The Telecommunication Services industry median Operating Margin % is 9.73. MTN Group's value of 29.49% is 203.1% above this industry median. Based on the distribution chart, MTN Group ranks #43 out of 367 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, MTN Group has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does MTN Group's Operating Margin % compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, MTN Group ranks #43 out of 367 companies for Operating Margin %. This places MTN Group in the top 12% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 9.73. MTN Group's value of 29.49% is 203.1% above this benchmark. Historically, MTN Group's own Operating Margin % has ranged from 13.13 to 28.16 over the past decade. While the company's 10-year median is 21.25 vs. the industry median of 9.73, MTN Group 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. MTN Group's current Operating Margin % of 29.49% is 203.1% 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 MTN Group 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. MTN Group's current Operating Margin % is 29.49%, which is 39% above median its own 10-year median of 21.25. 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?
MTN Group (STU:LL6A) has a current Operating Margin % of 29.49%. The stock's GF Value™ is €7.97, compared to a current price of €11.70 — trading 46.8% above its estimated fair value. The current Operating Margin % is 29.49%, which is 39% above median its 10-year median of 21.25 and 203.1% above the Telecommunication Services industry median of 9.73. 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 Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For MTN Group (STU:LL6A), the current Operating Margin % is 29.49% as of Dec. 2025. 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 (STU:LL6A) Overvalued in 2026?
Based on GuruFocus' analysis, MTN Group stock appears to be overvalued.
The current stock price of €11.70 is trading 46.8% above its estimated GF Value™ of €7.97.
Key valuation signals for STU:LL6A:
Operating Margin %: 29.49% (39% above median its 10-year median of 21.25)
GF Value™: €7.97 vs. price of €11.70 (46.8% above fair value)
Industry Position: 203.1% above the Telecommunication Services median (#43 of 367)
No single metric tells the full story. See the STU:LL6A 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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