Airtel AfricaAARTY 55 3-Year ROIIC % is -9.89 as of Mar. 2026. GuruFocus rates AARTY with a GF Score™ of 55/100 and a GF Value™ of $16.22 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 352 Telecommunication Services companies, Airtel Africa ranks worse than 70.74% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Airtel Africa's 3-Year ROIIC % for the quarter that ended in Mar. 2026 was -9.89%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Airtel Africa's 3-Year ROIIC % or its related term are showing as below:
AARTY's 3-Year ROIIC % is ranked worse than 70.74% of 352
companies
in the Telecommunication Services industry
Industry Median: 1.71
vs AARTY: -9.89
Airtel Africa (OTCPK:AARTY) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Airtel Africa 3-Year ROIIC % Related Terms
Airtel Africa 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Airtel Africa's 3-Year ROIIC % 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 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Airtel Africa's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Airtel Africa's 3-Year ROIIC % falls into.
Airtel Africa's 3-Year ROIIC % for the quarter that ended in Mar. 2026 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 1217.9854 (Mar. 2026) - 1284.5063 (Mar. 2023) )
/
( 14680 (Mar. 2026) - 11583 (Mar. 2023) )
=
-66.5209
/
3097
=
-2.15%***
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Airtel Africa (AARTY) has a 3-Year ROIIC % of -9.89 as of Mar. 2026. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Airtel Africa and its competitors. According to the industry distribution chart, Airtel Africa ranks #249 out of 352 companies in the Telecommunication Services industry, placing it in the top 70.7%.
Is Airtel Africa's 3-Year ROIIC % too high?
Airtel Africa's current 3-Year ROIIC % is -9.89. Based on the distribution chart, Airtel Africa ranks #249 out of 352 companies in the Telecommunication Services industry, which is below the industry midpoint. Overall, Airtel Africa has a GF Score™ of 55/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Airtel Africa's 3-Year ROIIC % compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Airtel Africa ranks #249 out of 352 companies for 3-Year ROIIC %. This places Airtel Africa in the lower half of its industry. The industry median 3-Year ROIIC % is 1.71. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Telecommunication Services company?
The median 3-Year ROIIC % among Telecommunication Services companies is 1.71, based on 352 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Airtel Africa and its competitors. For the Telecommunication Services industry, the median 3-Year ROIIC % is 1.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Airtel Africa's current 3-Year ROIIC % is -9.89. 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?
Based on GuruFocus' analysis, Airtel Africa (AARTY) is currently considered Significantly Overvalued. The stock's GF Value™ is $16.22, compared to a current price of $45.37 — trading 179.7% above its estimated fair value. The current 3-Year ROIIC % is -9.89. Airtel Africa's overall GF Score™ is 55/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Airtel Africa (AARTY), the current 3-Year ROIIC % is -9.89 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 Airtel Africa (AARTY) Overvalued in 2026?
Based on GuruFocus' analysis, Airtel Africa stock appears to be overvalued.
The current stock price of $45.37 is trading 179.7% above its estimated GF Value™ of $16.22.
GuruFocus considers Airtel Africa to be Significantly Overvalued.
Key valuation signals for AARTY:
3-Year ROIIC %: -9.89
GF Value™: $16.22 vs. price of $45.37 (179.7% above fair value)
No single metric tells the full story. See the AARTY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
55GF Score
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