Valuation
69
MTNN · MTN Nigeria Communications Plc
Accumulate Quality Compounder Quality 4/5Distress proxy: 97.57 (Safe)
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Composite score
72.5
Tier: Accumulate
Last close
₦720
As of latest snapshot
30-day ADV
₦2.08B
Liquidity signal
Market cap
₦15.10T
ICT
Financials
82
Technical
65
AI bottom line
MTNN's quality credentials are compelling—a 147% ROE and 23.6% net margin sit well ahead of sector peers—while its 12.9x P/E offers meaningful valuation relief versus the 52.7x sector median. The critical constraint is leverage at 3.05x debt-to-equity; investors should monitor debt trajectory and FCF conversion (currently 10% yield) to ensure the capital structure can sustain shareholder returns.
Stock Snowflake 5-axis radar
Blue = MTNN. Gold dash = ICT median. Bigger area = better across the five research dimensions.
What the model is seeing
- Trades at P/E 12.9x — about 76% below the ICT median of 52.7x.
- Free cash flow yield of 10.0% — strong cash generation relative to market cap.
- ROE of 147.1% — well above ICT median of 30.9%. Top-quartile capital efficiency.
Risk flags
High leverage — Debt/Equity 3.1x
Price & trend
Close price with 50-day and 200-day moving averages, last 12 months.
Composite score history
How the model has rated this stock over the available history. Tier changes happen at 75 / 60 / 40.
Key metrics
Valuation
P/E ratio12.9x
P/B ratio19.3x
P/S ratio3.1x
EV/EBITDA7.0x
FCF yield10.0%
Financials
ROE147.1%
ROA22.7%
Net margin23.6%
FCF margin30.7%
Debt / Equity3.1x
Technical
Last close₦720
Above 50d MA-11.5%
Above 200d MA16.3%
ADX (trend)76.2
RSI22.4
Dividend history 7 fiscal years shown
All amounts are gross of Nigeria's 10% withholding tax on dividends. Bonus ratios are 'new shares for shares held'.
Current yield: 2.08% 5y DPS CAGR: +20.5% ↑
| FY | Interim DPS | Final DPS | Total cash | Bonus | Qualification | Payment |
|---|---|---|---|---|---|---|
| 2025 | — | ₦15.00 | ₦15.00 | — | 08 Apr 2026 | 04 May 2026 |
| 2023 | ₦5.60 | — | ₦5.60 | — | — | 24 Aug 2023 |
| 2022 | — | ₦10.00 | ₦10.00 | — | — | 20 Apr 2023 |
| 2021 | — | ₦5.60 | ₦5.60 | — | — | 26 Aug 2022 |
| 2020 | — | ₦5.90 | ₦5.90 | — | — | 26 May 2021 |
| 2019 | ₦3.50 | ₦4.97 | ₦8.47 | — | — | 19 May 2020 |
| 2018 | — | ₦2.95 | ₦2.95 | — | — | — |
Peers in ICT
Closest names by composite score within the same sector. Click a symbol to open its detail page.
| Symbol | Composite | P/E | P/B | ROE | Tier |
|---|---|---|---|---|---|
| CWG | 76.1 | 9.2x | 4.8x | 47.9% | Conviction Buy |
| CHAMS | 61.2 | 57.6x | 2.6x | 3.8% | Accumulate |
| ETRANZACT | 53.6 | 47.8x | 8.0x | 13.9% | Illiquid |
| TRIPPLEG | 52.4 | 1039.5x | — | — | Illiquid |
| NCR | 48.9 | 80.9x | — | — | Illiquid |
| OMATEK | 26.8 | — | 9.5x | — | Illiquid |
Recent news mentioning MTNN
NGX corporate disclosures MTNN · last 5
Plain-English summaries of every NGX filing for MTNN, generated from the underlying PDFs by Claude Haiku. Click "Read the filing" to open the official document.
Insider Dealing
filed 26 Jun 2026
MTN Nigeria Communications PLC disclosed an insider share purchase by Samusideen Odufisan, General Manager of Finance Business Partnering, on 18 June 2026. Odufisan bought 8,000 ordinary shares at ₦750 per share in Lagos, aggregating ₦6 million in value. This initial notification reflects a material increase in his shareholding position.
Insider Dealing
filed 26 Jun 2026
MTN Nigeria Communications PLC filed an insider dealing notification on 26 June 2026 for an employee share acquisition scheme involving purchase of 1,233,299 ordinary shares at an aggregate price of ₦747.42 per share (total ~₦922 million) on 19 June 2026. The transaction represents a related-party share purchase through the company's employee scheme.
Other Disclosure
filed 22 Jun 2026
MTN Nigeria notified the market on 22 June 2026 of share vesting for six employees under its Employee Share Ownership and Performance Share Plans. A total of 128,929 shares vested between 30–31 March 2026, with the largest allocation of 99,122 units going to Omolara Micheal-Nwadu. This is a non-transactional corporate governance disclosure.
Insider Dealing
filed 18 Jun 2026
MTN Nigeria CFO Modupe Kadri purchased 1,313,732 ordinary shares between 16–17 June 2026 at an average price of ₦782.39 per share, totalling approximately ₦1.03 billion. This initial insider notification shows material accumulation by the finance chief, though the disclosure does not indicate whether this reflects personal conviction or unvested compensation.
Insider Dealing
filed 18 Jun 2026
MTN Nigeria Communications PLC disclosed that Jimoh Olayinka Fatai, Manager of Treasury Operations, purchased 12,100 ordinary shares at ₦820 per share on 14 May 2026 in Lagos. The ₦9.922 million transaction represents an insider share purchase and signals management confidence in the stock's value.