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MTN GhanaXGHA:MTNGH -0.14%100 PB Ratio is 6.33 as of Aug. 17, 2026, which is 102% above its 10-year median of 3.13. GuruFocus rates XGHA:MTNGH with a GF Score™ of 100/100 and a GF Value™ of GHS4.30 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 342 Telecommunication Services companies, MTN Ghana ranks worse than 89.77% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-08-17), MTN Ghana's share price is GHS7.04. MTN Ghana's Book Value per Share for the quarter that ended in Mar. 2026 was GHS1.11. Hence, MTN Ghana's PB Ratio of today is 6.33.
Warning Sign:
MTN Ghana stock PB Ratio (=6.33) is close to 10-year high of 6.42.
The historical rank and industry rank for MTN Ghana's PB Ratio or its related term are showing as below:
XGHA:MTNGH'
s PB Ratio Range Over the Past 10 Years
Min: 1.76 Med: 3.13 Max: 6.42
Current: 6.33
During the past 9 years, MTN Ghana's highest PB Ratio was 6.42. The lowest was 1.76. And the median was 3.13.
XGHA:MTNGH's PB Ratio is ranked worse than 89.77% of 342
companies
in the Telecommunication Services industry
Industry Median: 1.805
vs XGHA:MTNGH: 6.33
During the past 12 months, MTN Ghana's average Book Value Per Share Growth Rate was 21.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 32.10% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 31.70% per year.
During the past 9 years, the highest 3-Year average Book Value Per Share Growth Rate of MTN Ghana was 34.20% per year. The lowest was 21.40% per year. And the median was 28.90% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
MTN Ghana PB Ratio Related Terms
MTN Ghana PB Ratio Historical Data
* Premium members only.
The historical data trend for MTN Ghana's PB Ratio 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 Ghana's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, MTN Ghana's PB Ratio distribution charts can be found below:
* The bar in red indicates where MTN Ghana's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
MTN Ghana's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
MTN Ghana (XGHA:MTNGH) has a PB Ratio of 6.33 as of Aug. 17, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on MTN Ghana and its competitors. This is 102% above median its historical median of 3.13. Over the past decade, MTN Ghana's PB Ratio has ranged from 1.76 to 6.42. According to the industry distribution chart, MTN Ghana ranks #307 out of 342 companies in the Telecommunication Services industry, placing it in the top 89.8%.
Is MTN Ghana's PB Ratio too high?
MTN Ghana's current PB Ratio of 6.33 is 102% above median its 10-year median of 3.13. Over the past 10 years, this metric has ranged from a low of 1.76 to a high of 6.42. The Telecommunication Services industry median PB Ratio is 1.81. MTN Ghana's value of 6.33 is 250.7% above this industry median. Based on the distribution chart, MTN Ghana ranks #307 out of 342 companies in the Telecommunication Services industry, which is in the bottom quartile 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 PB Ratio compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, MTN Ghana ranks #307 out of 342 companies for PB Ratio. This places MTN Ghana in the lower half of its industry. The industry median PB Ratio is 1.81. MTN Ghana's value of 6.33 is 250.7% above this benchmark. Historically, MTN Ghana's own PB Ratio has ranged from 1.76 to 6.42 over the past decade. While the company's 10-year median is 3.13 vs. the industry median of 1.81, 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 PB Ratio for a Telecommunication Services company?
The median PB Ratio among Telecommunication Services companies is 1.81, based on 342 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MTN Ghana's current PB Ratio of 6.33 is 250.7% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on MTN Ghana and its competitors. For the Telecommunication Services industry, the median PB Ratio is 1.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MTN Ghana's current PB Ratio is 6.33, which is 102% above median its own 10-year median of 3.13. 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 GHS4.30, compared to a current price of GHS7.04 — trading 63.7% above its estimated fair value. The current PB Ratio is 6.33, which is 102% above median its 10-year median of 3.13 and 250.7% above the Telecommunication Services industry median of 1.81. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For MTN Ghana (XGHA:MTNGH), the current PB Ratio is 6.33 as of Aug. 17, 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 GHS7.04 is trading 63.7% above its estimated GF Value™ of GHS4.30.
GuruFocus considers MTN Ghana to be Significantly Overvalued.
Key valuation signals for XGHA:MTNGH:
PB Ratio: 6.33 (102% above median its 10-year median of 3.13)
GF Value™: GHS4.30 vs. price of GHS7.04 (63.7% above fair value)
Industry Position: 250.7% above the Telecommunication Services median (#307 of 342)
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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