Company Valuation: MTN Group Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 1,08,262 3,07,757 2,29,864 2,08,640 1,66,178 3,20,675 3,20,675 -
Change - 184.27% -25.31% -9.23% -20.35% 92.97% 0% -
Enterprise Value (EV) 1 2,12,839 3,97,085 3,25,848 3,18,552 2,90,381 4,29,766 4,13,609 3,93,025
Change - 86.57% -17.94% -2.24% -8.84% 48% -3.76% -4.98%
P/E ratio 6.43x 22.9x 12.2x 51.8x -17.3x 14.1x 10.6x 8.79x
PBR 1.02x 2.84x 2.02x 1.52x 1.35x 2.09x 1.8x 1.51x
PEG - -1.1x 0.3x -0.7x 0x -0x 0.3x 0.4x
Capitalization / Revenue 0.6x 1.69x 1.11x 0.94x 0.88x 1.43x 1.28x 1.12x
EV / Revenue 1.19x 2.19x 1.57x 1.44x 1.54x 1.92x 1.65x 1.38x
EV / EBITDA 2.62x 5.21x 3.61x 3.59x 4.9x 4.48x 3.67x 2.96x
EV / EBIT 4.62x 9.7x 5.81x 6.85x 12.7x 7.68x 5.71x 4.2x
EV / FCF 6.08x 9.26x 8.87x 10x 12.9x 25.9x 17.7x 13.9x
FCF Yield 16.4% 10.8% 11.3% 10% 7.76% 3.86% 5.64% 7.21%
Dividend per Share 2 - 3 3.3 3.3 3.3 3.855 4.793 6.065
Rate of return - 1.76% 2.59% 2.86% 3.59% 2.2% 2.74% 3.46%
EPS 2 9.36 7.44 10.44 2.23 -5.31 12.39 16.46 19.93
Distribution rate - 40.3% 31.6% 148% -62.1% 31.1% 29.1% 30.4%
Net sales 1 1,79,361 1,81,646 2,07,003 2,21,056 1,88,001 2,23,776 2,51,216 2,85,684
EBITDA 1 81,311 76,158 90,348 88,780 59,298 95,904 1,12,754 1,32,732
EBIT 1 46,105 40,935 56,081 46,512 22,807 55,948 72,404 93,495
Net income 1 17,022 13,750 19,337 4,092 -9,592 25,235 32,513 35,721
Net Debt 1 1,04,577 89,328 95,984 1,09,912 1,24,203 1,09,091 92,934 72,350
Reference price 2 60.19 170.71 127.30 115.50 91.99 175.19 175.19 175.19
Nbr of stocks (in thousands) 17,98,675 18,02,808 18,05,685 18,06,405 18,06,475 18,30,441 18,30,441 -
Announcement Date 10/03/21 09/03/22 12/03/23 22/03/24 17/03/25 - - -
1ZAR in Million2ZAR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.27x1.92x4.48x2.17% 1.95TCr
42.18x6.61x11.66x1.01% 14TCr
17.93x2.09x8.01x4.04% 6.49TCr
-105.55x9.13x11.55x0.96% 2.06TCr
4.08x3.16x7x3.96% 1.97TCr
-4.63x7.06x16.45x-.--% 1.35TCr
14.73x2.85x7.45x4.07% 1.33TCr
22.86x4.55x10.17x4.99% 1.15TCr
23.49x3.33x9.4x4.19% 1.02TCr
47.36x9.82x18.6x0.92% 976.19Cr
Average 7.67x 5.05x 10.48x 2.63% 3.18TCr
Weighted average by Cap. 19.32x 5.13x 10.29x 2.21%
See all sector valuations

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation MTN Group Limited