Airtel AfricaMEX:AAFN 39 ROE % is 26.50% as of Mar. 2026, which is 69% above its 10-year median of 15.69. GuruFocus rates MEX:AAFN with a GF Score™ of 39/100. The stock has 3 warning signs investors should review. Among 349 Telecommunication Services companies, Airtel Africa ranks better than 83.38% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Airtel Africa's annualized net income for the quarter that ended in Mar. 2026 was MXN14,354 Mil. Airtel Africa's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was MXN54,159 Mil. Therefore, Airtel Africa's annualized ROE % for the quarter that ended in Mar. 2026 was 26.50%.
The historical rank and industry rank for Airtel Africa's ROE % or its related term are showing as below:
MEX:AAFN'
s ROE % Range Over the Past 10 Years
Min: -5.53 Med: 15.69 Max: 48.43
Current: 24.36
During the past 10 years, Airtel Africa's highest ROE % was 48.43%. The lowest was -5.53%. And the median was 15.69%.
MEX:AAFN's ROE % is ranked better than 83.38% of 349
companies
in the Telecommunication Services industry
Industry Median: 7.41
vs MEX:AAFN: 24.36
Airtel Africa (MEX:AAFN) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % 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 ROE %s can be extremely high.
Airtel Africa ROE % Related Terms
Airtel Africa ROE % Historical Data
* Premium members only.
The historical data trend for Airtel Africa's ROE % 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.
For the Telecom Services subindustry, Airtel Africa's ROE %, along with its competitors' market caps and ROE % 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.
Airtel Africa ROE % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Airtel Africa's ROE % distribution charts can be found below:
* The bar in red indicates where Airtel Africa's ROE % 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 ROE %, the net income of the last fiscal year and the average total shareholder 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.
ROE % is displayed in the 30-year financial page.
Airtel Africa (MEX:AAFN) has a ROE % of 26.50% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Airtel Africa and its competitors. This is 69% above median its historical median of 15.69. According to the industry distribution chart, Airtel Africa ranks #58 out of 349 companies in the Telecommunication Services industry, placing it in the top 16.6%.
Is Airtel Africa's ROE % too high?
Airtel Africa's current ROE % of 26.50% is 69% above median its 10-year median of 15.69. The Telecommunication Services industry median ROE % is 7.41. Airtel Africa's value of 26.50% is 257.6% above this industry median. Based on the distribution chart, Airtel Africa ranks #58 out of 349 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, Airtel Africa has a GF Score™ of 39/100, reflecting its overall financial health beyond just this single metric.
How does Airtel Africa's ROE % compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Airtel Africa ranks #58 out of 349 companies for ROE %. This places Airtel Africa in the top 17% of its industry — outperforming the majority of peers. The industry median ROE % is 7.41. Airtel Africa's value of 26.50% is 257.6% above this benchmark. While the company's 10-year median is 15.69 vs. the industry median of 7.41, Airtel Africa 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 ROE % for a Telecommunication Services company?
The median ROE % among Telecommunication Services companies is 7.41, based on 349 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Airtel Africa's current ROE % of 26.50% is 257.6% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Airtel Africa and its competitors. For the Telecommunication Services industry, the median ROE % is 7.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Airtel Africa's current ROE % is 26.50%, which is 69% above median its own 10-year median of 15.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Airtel Africa stock overvalued right now?
Airtel Africa (MEX:AAFN) has a current ROE % of 26.50%. The current ROE % is 26.50%, which is 69% above median its 10-year median of 15.69 and 257.6% above the Telecommunication Services industry median of 7.41. Airtel Africa's overall GF Score™ is 39/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Airtel Africa (MEX:AAFN), the current ROE % is 26.50% 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.
Airtel Africa PLC is a telecoms and financial services provider transforming lives across the continent through increased digital and financial inclusion. The principal activities of the Group mainly consist of the provision of telecommunications and mobile money services. Its services include Voice, Data, Mobile money, Enterprise, and Data centers. The Group's operating segments are Nigeria mobile services, East Africa mobile services, Francophone Africa mobile services, and Mobile money. It generates maximum revenue from East Africa mobile services, comprising mobile service operations in Uganda, Kenya, Zambia, Tanzania, Malawi, and Rwanda.
39GF Score
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