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MTN Nigeria CommunicationsNSA:MTNN -0.10%85 Return-on-Tangible-Asset is 27.33% as of Mar. 2026, which is 63% above its 10-year median of 16.72. GuruFocus rates NSA:MTNN with a GF Score™ of 85/100 and a GF Value™ of ₦626.62 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 366 Telecommunication Services companies, MTN Nigeria Communications ranks better than 98.09% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. MTN Nigeria Communications's annualizedNet Income for the quarter that ended in Mar. 2026 was ₦1,422,004 Mil. MTN Nigeria Communications's average total tangible assets for the quarter that ended in Mar. 2026 was ₦5,203,063 Mil. Therefore, MTN Nigeria Communications's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 27.33%.
The historical rank and industry rank for MTN Nigeria Communications's Return-on-Tangible-Asset or its related term are showing as below:
NSA:MTNN'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -12.24 Med: 16.72 Max: 28.52
Current: 28.52
During the past 8 years, MTN Nigeria Communications's highest Return-on-Tangible-Asset was 28.52%. The lowest was -12.24%. And the median was 16.72%.
NSA:MTNN's Return-on-Tangible-Asset is ranked better than 98.09% of 366
companies
in the Telecommunication Services industry
Industry Median: 3.43
vs NSA:MTNN: 28.52
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
MTN Nigeria Communications Return-on-Tangible-Asset Related Terms
MTN Nigeria Communications Return-on-Tangible-Asset 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.
NSA:MTNN vs VZ, TMUS, T: Return-on-Tangible-Asset Comparison
For the Telecom Services subindustry, MTN Nigeria Communications's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Nigeria Communications Return-on-Tangible-Asset vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, MTN Nigeria Communications's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where MTN Nigeria Communications's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 27.33% mean?
MTN Nigeria Communications (NSA:MTNN) has a Return-on-Tangible-Asset of 27.33% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on MTN Nigeria Communications and its competitors. This is 63% above median its historical median of 16.72. According to the industry distribution chart, MTN Nigeria Communications ranks #7 out of 366 companies in the Telecommunication Services industry, placing it in the top 1.9%.
Is MTN Nigeria Communications' Return-on-Tangible-Asset too high?
MTN Nigeria Communications' current Return-on-Tangible-Asset of 27.33% is 63% above median its 10-year median of 16.72. The Telecommunication Services industry median Return-on-Tangible-Asset is 3.43. MTN Nigeria Communications' value of 27.33% is 696.8% above this industry median. Based on the distribution chart, MTN Nigeria Communications ranks #7 out of 366 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, MTN Nigeria Communications has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does MTN Nigeria Communications' Return-on-Tangible-Asset compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, MTN Nigeria Communications ranks #7 out of 366 companies for Return-on-Tangible-Asset. This places MTN Nigeria Communications in the top 2% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.43. MTN Nigeria Communications' value of 27.33% is 696.8% above this benchmark. While the company's 10-year median is 16.72 vs. the industry median of 3.43, MTN Nigeria Communications 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 Return-on-Tangible-Asset for a Telecommunication Services company?
The median Return-on-Tangible-Asset among Telecommunication Services companies is 3.43, based on 366 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MTN Nigeria Communications's current Return-on-Tangible-Asset of 27.33% is 696.8% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on MTN Nigeria Communications and its competitors. For the Telecommunication Services industry, the median Return-on-Tangible-Asset is 3.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MTN Nigeria Communications's current Return-on-Tangible-Asset is 27.33%, which is 63% above median its own 10-year median of 16.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MTN Nigeria Communications stock overvalued right now?
Based on GuruFocus' analysis, MTN Nigeria Communications (NSA:MTNN) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦626.62, compared to a current price of ₦857.10 — trading 36.8% above its estimated fair value. The current Return-on-Tangible-Asset is 27.33%, which is 63% above median its 10-year median of 16.72 and 696.8% above the Telecommunication Services industry median of 3.43. MTN Nigeria Communications' overall GF Score™ is 85/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For MTN Nigeria Communications (NSA:MTNN), the current Return-on-Tangible-Asset is 27.33% 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 Nigeria Communications (NSA:MTNN) Overvalued in 2026?
Based on GuruFocus' analysis, MTN Nigeria Communications stock appears to be overvalued.
The current stock price of ₦857.10 is trading 36.8% above its estimated GF Value™ of ₦626.62.
GuruFocus considers MTN Nigeria Communications to be Significantly Overvalued.
Key valuation signals for NSA:MTNN:
Return-on-Tangible-Asset: 27.33% (63% above median its 10-year median of 16.72)
GF Value™: ₦626.62 vs. price of ₦857.10 (36.8% above fair value)
Industry Position: 696.8% above the Telecommunication Services median (#7 of 366)
No single metric tells the full story. See the NSA:MTNN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MTN Nigeria Communications PLC is a provider of communications services. The principal activities of the company are the provision of broadband fixed wireless access service, mobile broadband solutions, and fibre-to-the-home connectivity. The group operates in three reportable segments, namely, Consumer Business Unit (CBU), which consists of subscribers sitting in value propositions and tariff plans for Youth, High Value, and Mass segments, Enterprise Business Unit (EBU), which consists of small and medium organizations to whom the services are provided, and Wholesale Business Unit (WBU), which serves customers who buy MTN telecom products. The majority of the revenue is generated from the CBU segment.
85GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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