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MTN GhanaXGHA:MTNGH +0.14%100 3-Year ROIIC % is 14.19 as of Dec. 2025, which is 0% above its 10-year median of 14.13. GuruFocus rates XGHA:MTNGH with a GF Score™ of 100/100 and a GF Value™ of GHS4.32 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 352 Telecommunication Services companies, MTN Ghana ranks better than 72.44% 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.
MTN Ghana's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 14.19%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for MTN Ghana's 3-Year ROIIC % or its related term are showing as below:
XGHA:MTNGH's 3-Year ROIIC % is ranked better than 72.44% of 352
companies
in the Telecommunication Services industry
Industry Median: 1.435
vs XGHA:MTNGH: 14.19
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.
MTN Ghana 3-Year ROIIC % Related Terms
MTN Ghana 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for MTN Ghana'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.
XGHA:MTNGH vs VZ, TMUS, T: 3-Year ROIIC % Comparison
For the Telecom Services subindustry, MTN Ghana'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.
MTN Ghana 3-Year ROIIC % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, MTN Ghana's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where MTN Ghana's 3-Year ROIIC % 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.
** 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.
MTN Ghana (XGHA:MTNGH) has a 3-Year ROIIC % of 14.19 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on MTN Ghana and its competitors. This is near median its historical median of 14.13. Over the past decade, MTN Ghana's 3-Year ROIIC % has ranged from 8.33 to 19.29. According to the industry distribution chart, MTN Ghana ranks #97 out of 352 companies in the Telecommunication Services industry, placing it in the top 27.6%.
Is MTN Ghana's 3-Year ROIIC % too high?
MTN Ghana's current 3-Year ROIIC % of 14.19 is near median its 10-year median of 14.13. Over the past 10 years, this metric has ranged from a low of 8.33 to a high of 19.29. The Telecommunication Services industry median 3-Year ROIIC % is 1.44. MTN Ghana's value of 14.19 is 888.9% above this industry median. Based on the distribution chart, MTN Ghana ranks #97 out of 352 companies in the Telecommunication Services industry, which is above the industry midpoint. 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 3-Year ROIIC % compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, MTN Ghana ranks #97 out of 352 companies for 3-Year ROIIC %. This puts MTN Ghana in the upper half of its industry. The industry median 3-Year ROIIC % is 1.44. MTN Ghana's value of 14.19 is 888.9% above this benchmark. Historically, MTN Ghana's own 3-Year ROIIC % has ranged from 8.33 to 19.29 over the past decade. While the company's 10-year median is 14.13 vs. the industry median of 1.44, MTN Ghana 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 3-Year ROIIC % for a Telecommunication Services company?
The median 3-Year ROIIC % among Telecommunication Services companies is 1.44, 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. MTN Ghana's current 3-Year ROIIC % of 14.19 is 888.9% 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 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 MTN Ghana and its competitors. For the Telecommunication Services industry, the median 3-Year ROIIC % is 1.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MTN Ghana's current 3-Year ROIIC % is 14.19, which is near median its own 10-year median of 14.13. 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 GHS4.32, compared to a current price of GHS7.00 — trading 62% above its estimated fair value. The current 3-Year ROIIC % is 14.19, which is near median its 10-year median of 14.13 and 888.9% above the Telecommunication Services industry median of 1.44. 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 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For MTN Ghana (XGHA:MTNGH), the current 3-Year ROIIC % is 14.19 as of Dec. 2025. 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 62% above its estimated GF Value™ of GHS4.32.
GuruFocus considers MTN Ghana to be Significantly Overvalued.
Key valuation signals for XGHA:MTNGH:
3-Year ROIIC %: 14.19 (near median its 10-year median of 14.13)
GF Value™: GHS4.32 vs. price of GHS7.00 (62% above fair value)
Industry Position: 888.9% above the Telecommunication Services median (#97 of 352)
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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