MTN Nigeria CommunicationsNSA:MTNN 85 Return-on-Tangible-Equity is 469.23% as of Mar. 2026, which is 22% above its 10-year median of 385.30. GuruFocus rates NSA:MTNN with a GF Score™ of 85/100 and a GF Value™ of ₦619.55 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 325 Telecommunication Services companies, MTN Nigeria Communications ranks better than 99.69% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. MTN Nigeria Communications's annualized net income for the quarter that ended in Mar. 2026 was ₦1,422,004 Mil. MTN Nigeria Communications's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₦303,048 Mil. Therefore, MTN Nigeria Communications's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 469.23%.
The historical rank and industry rank for MTN Nigeria Communications's Return-on-Tangible-Equity or its related term are showing as below:
NSA:MTNN'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 145.71 Med: 385.3 Max: 2516.15
Current: Negative Tangible Equity
During the past 8 years, MTN Nigeria Communications's highest Return-on-Tangible-Equity was 2,516.15%. The lowest was 145.71%. And the median was 385.30%.
NSA:MTNN's Return-on-Tangible-Equity is ranked better than 99.69% of 325
companies
in the Telecommunication Services industry
Industry Median: 14.53
vs NSA:MTNN: Negative Tangible Equity
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
MTN Nigeria Communications Return-on-Tangible-Equity Related Terms
MTN Nigeria Communications Return-on-Tangible-Equity 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 TMUS, VZ, T: Return-on-Tangible-Equity Comparison
For the Telecom Services subindustry, MTN Nigeria Communications's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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-Equity vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, MTN Nigeria Communications's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where MTN Nigeria Communications's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 469.23% mean?
MTN Nigeria Communications (NSA:MTNN) has a Return-on-Tangible-Equity of 469.23% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on MTN Nigeria Communications and its competitors. This is 22% above median its historical median of 385.30. Over the past decade, MTN Nigeria Communications' Return-on-Tangible-Equity has ranged from 145.71 to 2,516.15. According to the industry distribution chart, MTN Nigeria Communications ranks #1 out of 325 companies in the Telecommunication Services industry, placing it in the top 0.3%.
Is MTN Nigeria Communications' Return-on-Tangible-Equity too high?
MTN Nigeria Communications' current Return-on-Tangible-Equity of 469.23% is 22% above median its 10-year median of 385.30. Over the past 10 years, this metric has ranged from a low of 145.71 to a high of 2,516.15. The Telecommunication Services industry median Return-on-Tangible-Equity is 14.53. MTN Nigeria Communications' value of 469.23% is 3129.4% above this industry median. Based on the distribution chart, MTN Nigeria Communications ranks #1 out of 325 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-Equity compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, MTN Nigeria Communications ranks #1 out of 325 companies for Return-on-Tangible-Equity. This places MTN Nigeria Communications in the top 0% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 14.53. MTN Nigeria Communications' value of 469.23% is 3129.4% above this benchmark. Historically, MTN Nigeria Communications' own Return-on-Tangible-Equity has ranged from 145.71 to 2,516.15 over the past decade. While the company's 10-year median is 385.30 vs. the industry median of 14.53, 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-Equity for a Telecommunication Services company?
The median Return-on-Tangible-Equity among Telecommunication Services companies is 14.53, based on 325 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity 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-Equity of 469.23% is 3129.4% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on MTN Nigeria Communications and its competitors. For the Telecommunication Services industry, the median Return-on-Tangible-Equity is 14.53 — 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-Equity is 469.23%, which is 22% above median its own 10-year median of 385.30. 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 ₦619.55, compared to a current price of ₦810.00 — trading 30.7% above its estimated fair value. The current Return-on-Tangible-Equity is 469.23%, which is 22% above median its 10-year median of 385.30 and 3129.4% above the Telecommunication Services industry median of 14.53. 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-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For MTN Nigeria Communications (NSA:MTNN), the current Return-on-Tangible-Equity is 469.23% 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 ₦810.00 is trading 30.7% above its estimated GF Value™ of ₦619.55.
GuruFocus considers MTN Nigeria Communications to be Significantly Overvalued.
Key valuation signals for NSA:MTNN:
Return-on-Tangible-Equity: 469.23% (22% above median its 10-year median of 385.30)
GF Value™: ₦619.55 vs. price of ₦810.00 (30.7% above fair value)
Industry Position: 3129.4% above the Telecommunication Services median (#1 of 325)
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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