MTN Ghana (XGHA:MTNGH) ROCE %: 79.16% (As of Mar. 2026)


XGHA:MTNGH MTN Ghana XGHA:MTNGH
100 GF Score
Price GHS6.40
GF Value GHS4.21
Valuation Significantly Overvalued
! 6 Warning Signs
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What is MTN Ghana ROCE %?

MTN Ghana XGHA:MTNGH -0.31% 100 ROCE % is 79.16% as of Mar. 2026. GuruFocus rates XGHA:MTNGH with a GF Score™ of 100/100 and a GF Value™ of GHS4.21 (Significantly Overvalued). The stock has 6 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 Ghana's annualized ROCE % for the quarter that ended in Mar. 2026 was 79.16%.

MTN Ghana  (XGHA:MTNGH) 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 Ghana ROCE % Related Terms

MTN Ghana ROCE % Historical Data

* Premium members only.

The historical data trend for MTN Ghana'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 Ghana ROCE % Chart

MTN Ghana Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only 53.26 61.92 61.65 64.59 74.02

MTN Ghana 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 72.08 79.25 81.73 94.82 79.16
XGHA:MTNGH
100GF Score
MTN Ghana XGHA:MTNGH
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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MTN Ghana ROCE % Calculation

MTN Ghana'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 )
=12291.056/( ( (42456.346 - 28151.058) + (62391.057 - 43484.106) )/ 2 )
=12291.056/( (14305.288+18906.951)/ 2 )
=12291.056/16606.1195
=74.02 %

MTN Ghana'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 )
=15207.304/( ( (62391.057 - 43484.106) + (24642.353 - 5128.438) )/ 2 )
=15207.304/( ( 18906.951 + 19513.915 )/ 2 )
=15207.304/19210.433
=79.16 %

(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 79.16% mean?
MTN Ghana (XGHA:MTNGH) has a ROCE % of 79.16% as of Mar. 2026.
Is MTN Ghana's ROCE % too high?
MTN Ghana's current ROCE % is 79.16%. The Telecommunication Services industry median ROCE % is 7.74. MTN Ghana's value of 79.16% is 922.7% above this industry median. 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 ROCE % compare to TMUS and VZ?
MTN Ghana's ROCE % of 79.16% can be compared against companies in the Telecommunication Services industry. The industry median ROCE % is 7.74. MTN Ghana's value of 79.16% is 922.7% 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 7.74, based on 351 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 Ghana's current ROCE % of 79.16% is 922.7% 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 7.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MTN Ghana's current ROCE % is 79.16%. 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 GHS4.21, compared to a current price of GHS6.40 — trading 52% above its estimated fair value. The current ROCE % is 79.16% and 922.7% above the Telecommunication Services industry median of 7.74. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For MTN Ghana (XGHA:MTNGH), the current ROCE % is 79.16% 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 GHS6.40 is trading 52% above its estimated GF Value™ of GHS4.21. GuruFocus considers MTN Ghana to be Significantly Overvalued.

Key valuation signals for XGHA:MTNGH:

  • ROCE %: 79.16%
  • GF Value™: GHS4.21 vs. price of GHS6.40 (52% above fair value)
  • GF Score™: 100/100 with 6 warning signs
  • Industry Position: 922.7% above the Telecommunication Services median

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 Business Description

Address MTN House, Independence Avenue, West Ridge, Plot OER 6, Accra, GHA
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

Get the complete analysis for XGHA:MTNGH

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

GHS6.40
Price
GHS4.21
GF Value