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ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. MTN Ghana's annualized return on invested capital (ROIC %) for the quarter that ended in Mar. 2026 was 27.20%.
As of today (2026-08-07), MTN Ghana's WACC % is 11.06%. MTN Ghana's ROIC % is 22.76% (calculated using TTM income statement data).
MTN Ghana generates higher returns on investment than it costs the company to raise the capital needed for that investment. It is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases.
ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.
There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.
Why is ROIC % important?
Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.
As of today, MTN Ghana's WACC % is 11.06%. MTN Ghana's ROIC % is 22.76% (calculated using TTM income statement data).
MTN Ghana generates higher returns on investment than it costs the company to raise the capital needed for that investment. It is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases.
Be Aware
Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
MTN Ghana ROIC % Related Terms
MTN Ghana ROIC % Historical Data
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The historical data trend for MTN Ghana's ROIC % 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, MTN Ghana's ROIC %, along with its competitors' market caps and ROIC % 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 ROIC % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, MTN Ghana's ROIC % distribution charts can be found below:
* The bar in red indicates where MTN Ghana's ROIC % falls into.
Note:
The Operating Income data used here is four times the quarterly (Mar. 2026) data.
The tax rate is limited to between 0% and 100%.
* 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 (XGHA:MTNGH) has a ROIC % of 27.20% as of Mar. 2026. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on MTN Ghana and its competitors.
Is MTN Ghana's ROIC % too high?
MTN Ghana's current ROIC % is 27.20%. The Telecommunication Services industry median ROIC % is 4.55. MTN Ghana's value of 27.20% is 497.8% 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 ROIC % compare to VZ and TMUS?
MTN Ghana's ROIC % of 27.20% can be compared against companies in the Telecommunication Services industry. The industry median ROIC % is 4.55. MTN Ghana's value of 27.20% is 497.8% 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 ROIC % for a Telecommunication Services company?
The median ROIC % among Telecommunication Services companies is 4.55, based on 361 companies in the industry. Companies in the top quartile (top 25%) have a ROIC % significantly above this median, while those in the bottom quartile fall well below. However, ROIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MTN Ghana's current ROIC % of 27.20% is 497.8% 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 ROIC % mean?
A high ROIC % can signal that a stock is expensive relative to its fundamentals. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on MTN Ghana and its competitors. For the Telecommunication Services industry, the median ROIC % is 4.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MTN Ghana's current ROIC % is 27.20%. 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 ROIC % is 27.20% and 497.8% above the Telecommunication Services industry median of 4.55. 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 ROIC % calculated?
ROIC % is calculated from a company's financial statements. For MTN Ghana (XGHA:MTNGH), the current ROIC % is 27.20% 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:
ROIC %: 27.20%
GF Value™: GHS4.28 vs. price of GHS7.00 (63.6% above fair value)
Industry Position: 497.8% 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 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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