MTN Nigeria Communications (NSA:MTNN) ROCE %: 81.22% (As of Mar. 2026)


NSA:MTNN MTN Nigeria Communications PLC NSA:MTNN
85 GF Score
Price ₦830.00
GF Value ₦612.30
Valuation Significantly Overvalued
! 3 Warning Signs
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What is MTN Nigeria Communications ROCE %?

MTN Nigeria Communications NSA:MTNN 85 ROCE % is 81.22% as of Mar. 2026. GuruFocus rates NSA:MTNN with a GF Score™ of 85/100 and a GF Value™ of ₦612.30 (Significantly Overvalued). The stock has 3 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. MTN Nigeria Communications's annualized ROCE % for the quarter that ended in Mar. 2026 was 81.22%.

MTN Nigeria Communications  (NSA:MTNN) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

MTN Nigeria Communications ROCE % Related Terms

MTN Nigeria Communications ROCE % Historical Data

* Premium members only.

The historical data trend for MTN Nigeria Communications's ROCE % 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.

MTN Nigeria Communications ROCE % Chart

MTN Nigeria Communications Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial 46.97 51.44 3.77 -7.27 82.65

MTN Nigeria Communications Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 58.93 87.20 90.56 90.13 81.22
NSA:MTNN
85GF Score
MTN Nigeria Communications PLC NSA:MTNN
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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MTN Nigeria Communications ROCE % Calculation

MTN Nigeria Communications's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=2216659/( ( (4196991 - 1988318) + (5403489 - 2248419) )/ 2 )
=2216659/( (2208673+3155070)/ 2 )
=2216659/2681871.5
=82.65 %

MTN Nigeria Communications's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=2668204/( ( (5403489 - 2248419) + (5849193 - 2434027) )/ 2 )
=2668204/( ( 3155070 + 3415166 )/ 2 )
=2668204/3285118
=81.22 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 81.22% mean?
MTN Nigeria Communications (NSA:MTNN) has a ROCE % of 81.22% as of Mar. 2026.
Is MTN Nigeria Communications' ROCE % too high?
MTN Nigeria Communications' current ROCE % is 81.22%. The Telecommunication Services industry median ROCE % is 7.72. MTN Nigeria Communications' value of 81.22% is 952.1% above this industry median. 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' ROCE % compare to TMUS and VZ?
MTN Nigeria Communications' ROCE % of 81.22% can be compared against companies in the Telecommunication Services industry. The industry median ROCE % is 7.72. MTN Nigeria Communications' value of 81.22% is 952.1% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Telecommunication Services company?
The median ROCE % among Telecommunication Services companies is 7.72, based on 356 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MTN Nigeria Communications's current ROCE % of 81.22% is 952.1% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Telecommunication Services industry, the median ROCE % is 7.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MTN Nigeria Communications's current ROCE % is 81.22%. 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 ₦612.30, compared to a current price of ₦830.00 — trading 35.6% above its estimated fair value. The current ROCE % is 81.22% and 952.1% above the Telecommunication Services industry median of 7.72. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For MTN Nigeria Communications (NSA:MTNN), the current ROCE % is 81.22% 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 ₦830.00 is trading 35.6% above its estimated GF Value™ of ₦612.30. GuruFocus considers MTN Nigeria Communications to be Significantly Overvalued.

Key valuation signals for NSA:MTNN:

  • ROCE %: 81.22%
  • GF Value™: ₦612.30 vs. price of ₦830.00 (35.6% above fair value)
  • GF Score™: 85/100 with 3 warning signs
  • Industry Position: 952.1% above the Telecommunication Services median

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 Business Description

Address 4 Aromire Road, Off Alfred Rewane, Ikoyi, Lagos, NGA
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

Get the complete analysis for NSA:MTNN

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₦830.00
Price
₦612.30
GF Value