MTN GhanaXGHA:MTNGH +0.31%100 Operating Margin % is 50.29% as of Mar. 2026, which is 21% above its 10-year median of 41.61. GuruFocus rates XGHA:MTNGH with a GF Score™ of 100/100 and a GF Value™ of GHS4.18 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 365 Telecommunication Services companies, MTN Ghana ranks better than 98.63% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. MTN Ghana's Operating Income for the
three
months ended in Mar. 2026 was GHS3,658 Mil. MTN Ghana's Revenue for the
three
months ended in Mar. 2026 was GHS7,274 Mil. Therefore, MTN Ghana's Operating Margin % for the quarter that ended in Mar. 2026 was 50.29%.
Good Sign:
MTN Ghana operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for MTN Ghana's Operating Margin % or its related term are showing as below:
XGHA:MTNGH'
s Operating Margin % Range Over the Past 10 Years
Min: 26.71 Med: 41.61 Max: 50.24
Current: 50.24
XGHA:MTNGH's Operating Margin % is ranked better than 98.63% of 365
companies
in the Telecommunication Services industry
Industry Median: 9.72
vs XGHA:MTNGH: 50.24
MTN Ghana's 5-Year Average Operating Margin % Growth Rate was 4.70% per year.
MTN Ghana's Operating Income for the
three
months ended in Mar. 2026 was GHS3,658 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was GHS13,234 Mil.
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 Ghana Operating Margin % Related Terms
MTN Ghana Operating Margin % Historical Data
* Premium members only.
The historical data trend for MTN Ghana'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.
XGHA:MTNGH vs TMUS, VZ, T: Operating Margin % Comparison
For the Telecom Services subindustry, MTN Ghana'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 Ghana Operating Margin % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, MTN Ghana's Operating Margin % distribution charts can be found below:
* The bar in red indicates where MTN Ghana'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 Ghana'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 Ghana (XGHA:MTNGH) has a Operating Margin % of 50.29% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on MTN Ghana and its competitors. This is 21% above median its historical median of 41.61. Over the past decade, MTN Ghana's Operating Margin % has ranged from 26.71 to 50.24. According to the industry distribution chart, MTN Ghana ranks #5 out of 365 companies in the Telecommunication Services industry, placing it in the top 1.4%.
Is MTN Ghana's Operating Margin % too high?
MTN Ghana's current Operating Margin % of 50.29% is 21% above median its 10-year median of 41.61. Over the past 10 years, this metric has ranged from a low of 26.71 to a high of 50.24. The Telecommunication Services industry median Operating Margin % is 9.72. MTN Ghana's value of 50.29% is 417.4% above this industry median. Based on the distribution chart, MTN Ghana ranks #5 out of 365 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. 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 Operating Margin % compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, MTN Ghana ranks #5 out of 365 companies for Operating Margin %. This places MTN Ghana in the top 1% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 9.72. MTN Ghana's value of 50.29% is 417.4% above this benchmark. Historically, MTN Ghana's own Operating Margin % has ranged from 26.71 to 50.24 over the past decade. While the company's 10-year median is 41.61 vs. the industry median of 9.72, MTN Ghana 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 9.72, based on 365 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 Ghana's current Operating Margin % of 50.29% is 417.4% 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 Ghana and its competitors. For the Telecommunication Services industry, the median Operating Margin % is 9.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MTN Ghana's current Operating Margin % is 50.29%, which is 21% above median its own 10-year median of 41.61. 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 GHS4.18, compared to a current price of GHS6.46 — trading 54.5% above its estimated fair value. The current Operating Margin % is 50.29%, which is 21% above median its 10-year median of 41.61 and 417.4% above the Telecommunication Services industry median of 9.72. 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 Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For MTN Ghana (XGHA:MTNGH), the current Operating Margin % is 50.29% 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 GHS6.46 is trading 54.5% above its estimated GF Value™ of GHS4.18.
GuruFocus considers MTN Ghana to be Significantly Overvalued.
Key valuation signals for XGHA:MTNGH:
Operating Margin %: 50.29% (21% above median its 10-year median of 41.61)
GF Value™: GHS4.18 vs. price of GHS6.46 (54.5% above fair value)
Industry Position: 417.4% above the Telecommunication Services median (#5 of 365)
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 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
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