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MTN GhanaXGHA:MTNGH -0.14%100 Return-on-Tangible-Equity is 81.51% as of Mar. 2026, which is 31% above its 10-year median of 62.17. GuruFocus rates XGHA:MTNGH with a GF Score™ of 100/100 and a GF Value™ of GHS4.28 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 326 Telecommunication Services companies, MTN Ghana ranks better than 76.69% 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 Ghana's annualized net income for the quarter that ended in Mar. 2026 was GHS9,918 Mil. MTN Ghana's average shareholder tangible equity for the quarter that ended in Mar. 2026 was GHS12,167 Mil. Therefore, MTN Ghana's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 81.51%.
The historical rank and industry rank for MTN Ghana's Return-on-Tangible-Equity or its related term are showing as below:
XGHA:MTNGH'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 42.83 Med: 62.17 Max: 81.15
Current: 81.15
During the past 9 years, MTN Ghana's highest Return-on-Tangible-Equity was 81.15%. The lowest was 42.83%. And the median was 62.17%.
XGHA:MTNGH's Return-on-Tangible-Equity is ranked better than 76.69% of 326
companies
in the Telecommunication Services industry
Industry Median: 14.66
vs XGHA:MTNGH: 81.15
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 Ghana Return-on-Tangible-Equity Related Terms
MTN Ghana Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for MTN Ghana's Return-on-Tangible-Equity 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 VZ, TMUS, T: Return-on-Tangible-Equity Comparison
For the Telecom Services subindustry, MTN Ghana'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 Ghana Return-on-Tangible-Equity vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, MTN Ghana's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where MTN Ghana'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 81.51% mean?
MTN Ghana (XGHA:MTNGH) has a Return-on-Tangible-Equity of 81.51% 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 Ghana and its competitors. This is 31% above median its historical median of 62.17. Over the past decade, MTN Ghana's Return-on-Tangible-Equity has ranged from 42.83 to 81.15. According to the industry distribution chart, MTN Ghana ranks #76 out of 326 companies in the Telecommunication Services industry, placing it in the top 23.3%.
Is MTN Ghana's Return-on-Tangible-Equity too high?
MTN Ghana's current Return-on-Tangible-Equity of 81.51% is 31% above median its 10-year median of 62.17. Over the past 10 years, this metric has ranged from a low of 42.83 to a high of 81.15. The Telecommunication Services industry median Return-on-Tangible-Equity is 14.66. MTN Ghana's value of 81.51% is 456% above this industry median. Based on the distribution chart, MTN Ghana ranks #76 out of 326 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 Return-on-Tangible-Equity compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, MTN Ghana ranks #76 out of 326 companies for Return-on-Tangible-Equity. This places MTN Ghana in the top 23% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 14.66. MTN Ghana's value of 81.51% is 456% above this benchmark. Historically, MTN Ghana's own Return-on-Tangible-Equity has ranged from 42.83 to 81.15 over the past decade. While the company's 10-year median is 62.17 vs. the industry median of 14.66, 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 Return-on-Tangible-Equity for a Telecommunication Services company?
The median Return-on-Tangible-Equity among Telecommunication Services companies is 14.66, based on 326 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 Ghana's current Return-on-Tangible-Equity of 81.51% is 456% 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 Ghana and its competitors. For the Telecommunication Services industry, the median Return-on-Tangible-Equity is 14.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MTN Ghana's current Return-on-Tangible-Equity is 81.51%, which is 31% above median its own 10-year median of 62.17. 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 GHS4.28, compared to a current price of GHS7.00 — trading 63.6% above its estimated fair value. The current Return-on-Tangible-Equity is 81.51%, which is 31% above median its 10-year median of 62.17 and 456% above the Telecommunication Services industry median of 14.66. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For MTN Ghana (XGHA:MTNGH), the current Return-on-Tangible-Equity is 81.51% 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 GHS7.00 is trading 63.6% above its estimated GF Value™ of GHS4.28.
GuruFocus considers MTN Ghana to be Significantly Overvalued.
Key valuation signals for XGHA:MTNGH:
Return-on-Tangible-Equity: 81.51% (31% above median its 10-year median of 62.17)
GF Value™: GHS4.28 vs. price of GHS7.00 (63.6% above fair value)
Industry Position: 456% above the Telecommunication Services median (#76 of 326)
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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