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Mahanagar Telephone NigamNSE:MTNL +1.35%52 PS Ratio is 2.07 as of Jul. 25, 2026, which is 46% above its 10-year median of 1.42. GuruFocus rates NSE:MTNL with a GF Score™ of 52/100 and a GF Value™ of ₹45.17 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 364 Telecommunication Services companies, Mahanagar Telephone Nigam ranks worse than 64.56% on this metric.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. As of today, Mahanagar Telephone Nigam's share price is ₹27.11.
Mahanagar Telephone Nigam's Revenue per Share for the trailing twelve months (TTM) ended in Mar. 2026 was ₹13.07. Hence, Mahanagar Telephone Nigam's PS Ratio for today is 2.07.
Good Sign:
Mahanagar Telephone Nigam Ltd stock PS Ratio (=1.78) is close to 2-year low of 1.78.
The historical rank and industry rank for Mahanagar Telephone Nigam's PS Ratio or its related term are showing as below:
NSE:MTNL'
s PS Ratio Range Over the Past 10 Years
Min: 0.16 Med: 1.42 Max: 8.23
Current: 2.07
During the past 13 years, Mahanagar Telephone Nigam's highest PS Ratio was 8.23. The lowest was 0.16. And the median was 1.42.
NSE:MTNL's PS Ratio is ranked worse than 64.56% of 364
companies
in the Telecommunication Services industry
Industry Median: 1.355
vs NSE:MTNL: 2.07
Mahanagar Telephone Nigam Ltd revenue per share has been in decline for the last 5 years.
During the past 12 months, the average Revenue per Share Growth Rate of Mahanagar Telephone Nigam was -15.30% per year.
During the past 3 years, the average Revenue per Share Growth Rate was 2.90% per year.
During the past 5 years, the average Revenue per Share Growth Rate was -4.90% per year.
During the past 10 years, the average Revenue per Share Growth Rate was -12.90% per year.
During the past 13 years, Mahanagar Telephone Nigam's highest 3-Year average Revenue per Share Growth Rate was 2.90% per year. The lowest was -18.90% per year. And the median was -6.30% per year.
Back to Basics: PS Ratio
Mahanagar Telephone Nigam (NSE:MTNL) PS Ratio Explanation
The PS Ratio is an excellent valuation indicator if you want to compare a stock with its historical valuation or with the stocks in the same industry. The PS Ratio works especially well when you want to compare the stock's current valuation with its historical valuation. The PS Ratio is a great valuation tool for evaluating cyclical businesses where the PE Ratio works poorly. It works the best when comparing the current valuation with the historical valuation because over time, a company's profit margin tends to revert to the mean.
When the PS Ratio is applied to the whole stock market, it can be used to evaluate the current market valuation and projected returns. In this case, the price is the total market cap of all stocks that are traded, and sales are the GDP of the country. This is how Warren Buffett estimates the broad market valuation and project future returns.
The PS Ratio does not tell you how cheap or expensive the stock is. It cannot be used to compare companies in different industries. It works better for companies within the same industry because these companies tend to have similar capital structures and profit margins. It works the best when comparing a company with itself in the past.
Mahanagar Telephone Nigam PS Ratio Related Terms
Mahanagar Telephone Nigam PS Ratio Historical Data
* 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, Mahanagar Telephone Nigam's PS Ratio, along with its competitors' market caps and PS 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.
Mahanagar Telephone Nigam PS Ratio vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Mahanagar Telephone Nigam's PS Ratio distribution charts can be found below:
* The bar in red indicates where Mahanagar Telephone Nigam's PS Ratio falls into.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. It is a ratio widely used to value stocks and it was first used by Ken Fisher.
Mahanagar Telephone Nigam's Share Price of today is ₹27.11. Mahanagar Telephone Nigam's Revenue per Share for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹13.07.
* 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:
Mahanagar Telephone Nigam (NSE:MTNL) has a PS Ratio of 2.07 as of Jul. 25, 2026. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Mahanagar Telephone Nigam and its competitors. This is 46% above median its historical median of 1.42. Over the past decade, Mahanagar Telephone Nigam's PS Ratio has ranged from 0.16 to 8.23. According to the industry distribution chart, Mahanagar Telephone Nigam ranks #235 out of 364 companies in the Telecommunication Services industry, placing it in the top 64.6%.
Is Mahanagar Telephone Nigam's PS Ratio too high?
Mahanagar Telephone Nigam's current PS Ratio of 2.07 is 46% above median its 10-year median of 1.42. Over the past 10 years, this metric has ranged from a low of 0.16 to a high of 8.23. The Telecommunication Services industry median PS Ratio is 1.36. Mahanagar Telephone Nigam's value of 2.07 is 52.8% above this industry median. Based on the distribution chart, Mahanagar Telephone Nigam ranks #235 out of 364 companies in the Telecommunication Services industry, which is below the industry midpoint. Overall, Mahanagar Telephone Nigam has a GF Score™ of 52/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Mahanagar Telephone Nigam's PS Ratio compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Mahanagar Telephone Nigam ranks #235 out of 364 companies for PS Ratio. This places Mahanagar Telephone Nigam in the lower half of its industry. The industry median PS Ratio is 1.36. Mahanagar Telephone Nigam's value of 2.07 is 52.8% above this benchmark. Historically, Mahanagar Telephone Nigam's own PS Ratio has ranged from 0.16 to 8.23 over the past decade. While the company's 10-year median is 1.42 vs. the industry median of 1.36, Mahanagar Telephone Nigam 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 PS Ratio for a Telecommunication Services company?
The median PS Ratio among Telecommunication Services companies is 1.36, based on 364 companies in the industry. Companies in the top quartile (top 25%) have a PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Mahanagar Telephone Nigam's current PS Ratio of 2.07 is 52.8% 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 PS Ratio mean?
A high PS Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Mahanagar Telephone Nigam and its competitors. For the Telecommunication Services industry, the median PS Ratio is 1.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mahanagar Telephone Nigam's current PS Ratio is 2.07, which is 46% above median its own 10-year median of 1.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mahanagar Telephone Nigam stock overvalued right now?
Based on GuruFocus' analysis, Mahanagar Telephone Nigam (NSE:MTNL) is currently considered Possible Value Trap. The stock's GF Value™ is ₹45.17, compared to a current price of ₹27.11 — trading 40% below its estimated fair value. The current PS Ratio is 2.07, which is 46% above median its 10-year median of 1.42 and 52.8% above the Telecommunication Services industry median of 1.36. Mahanagar Telephone Nigam's overall GF Score™ is 52/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PS Ratio calculated?
PS Ratio is calculated from a company's financial statements. For Mahanagar Telephone Nigam (NSE:MTNL), the current PS Ratio is 2.07 as of Jul. 25, 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 Mahanagar Telephone Nigam (NSE:MTNL) Overvalued in 2026?
Based on GuruFocus' analysis, Mahanagar Telephone Nigam stock appears to be undervalued.
The current stock price of ₹27.11 is trading 40% below its estimated GF Value™ of ₹45.17.
GuruFocus considers Mahanagar Telephone Nigam to be Possible Value Trap.
Key valuation signals for NSE:MTNL:
PS Ratio: 2.07 (46% above median its 10-year median of 1.42)
GF Value™: ₹45.17 vs. price of ₹27.11 (40% below fair value)
Industry Position: 52.8% above the Telecommunication Services median (#235 of 364)
No single metric tells the full story. See the NSE:MTNL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mahanagar Telephone Nigam Ltd is an India-based company that provides telecommunications services. The company's operating segment includes the Basic and Cellular segments. It generates maximum revenue from the Basic segment. The company offers various telecom services, including fixed telephone service, GSM (including 3G services), Internet, Broadband, ISDN, and Leased Line services.
52GF Score
Get the complete analysis for NSE:MTNL
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