MTN (MTNOY)

Thursday

4:01 PM

ThesisStrong growth in mobile financial services and subscriber base in key markets is driving positive sentiment around MTN's future earnings potential.

Revenue Outlook

Metric	FY2025	FY2026E	FY2027E
Revenue	$210.0B	$262.1B	$304.5B
Rev. Growth	+11.7%	+24.8%	+16.2%
EPS	$10.26	$16.97	$21.90
EPS Growth	+293%	+65.4%	+29.0%
P/E (fwd)	1.3×	0.8×	0.6×

★ Analysts see FY2026 revenue reaching $262.1B — +24.8% growth in a single year.

Why Revenue Could Accelerate

01MTN's mobile financial services, MoMo, reported a 50% increase in transaction volume YoY, indicating strong demand for digital financial solutions.
02Subscriber growth in Nigeria accelerated to 15% YoY, driven by increased network coverage and competitive pricing strategies.
03MTN's recent partnership with local fintech companies is expected to enhance its service offerings and drive further adoption of mobile money.
04The company is exploring 5G deployment in urban areas, which could unlock new revenue streams and enhance customer experience.
05Digital financial inclusion in Africa
065G technology deployment
07Subscriber growth in key markets like Nigeria and South Africa
08Regulatory changes affecting mobile tariffs and competition

FY2025 Snapshot

Revenue: $210.0B
Rev. Growth: +11.7%
Gross Margin: 47.6%
Op. Margin: 34.0%
Net Margin: 8.9%
Net Income: $18.8B
NI Growth: +296%
EPS: $10.26
1Y Return: +67.1%

MTNOY Chart

My Notes

"Our focus on expanding digital services is yielding significant results, particularly in underserved markets."
Moat: MTN's extensive network infrastructure and established brand presence provide a durable competitive advantage in the African…
growth - due to MTN's strong revenue growth and expansion into mobile financial services.
Moderate - While MTN's financing costs are influenced by interest rates, the demand for mobile services remains relatively inelastic.
Watch on earnings: Subscriber growth rate in Nigeria, Average revenue per user (ARPU) trends, Mobile financial services transaction volume.

One Sentence Summary:

The bull case is simple: analysts see revenue climbing from $262.1B to $304.5B as mtn's mobile financial services, momo, reported a 50% increase in transaction volume yoy.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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