MTN Group Ltd (MTN) - Net Assets

Latest as of December 2025: ZAC169.73 Billion ZAC ≈ $90.20 Million USD

Based on the latest financial reports, MTN Group Ltd (MTN) has net assets worth ZAC169.73 Billion ZAC (≈ $90.20 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (ZAC498.71 Billion ≈ $265.04 Million USD) and total liabilities (ZAC328.98 Billion ≈ $174.84 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check MTN Group Ltd (MTN) tangible equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric Value
Current Net Assets ZAC169.73 Billion
% of Total Assets 34.03%
Annual Growth Rate 10.13%
5-Year Change 47.62%
10-Year Change 61.3%
Growth Volatility 23.1

MTN Group Ltd - Net Assets Trend (2001–2025)

This chart illustrates how MTN Group Ltd's net assets have evolved over time, based on quarterly financial data. See MTN defensive interval ratio to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for MTN Group Ltd (2001–2025)

The table below shows the annual net assets of MTN Group Ltd from 2001 to 2025. For live valuation and market cap data, see MTN stock market capitalisation.

Year Net Assets Change
2025-12-31 ZAC169.73 Billion
≈ $90.20 Million		 +22.60%
2024-12-31 ZAC138.45 Billion
≈ $73.58 Million		 -7.81%
2023-12-31 ZAC150.18 Billion
≈ $79.81 Million		 +22.76%
2022-12-31 ZAC122.34 Billion
≈ $65.02 Million		 +6.40%
2021-12-31 ZAC114.98 Billion
≈ $61.11 Million		 +8.24%
2020-12-31 ZAC106.22 Billion
≈ $56.45 Million		 +23.37%
2019-12-31 ZAC86.10 Billion
≈ $45.76 Million		 -2.41%
2018-12-31 ZAC88.23 Billion
≈ $46.89 Million		 -6.41%
2017-12-31 ZAC94.27 Billion
≈ $50.10 Million		 -10.42%
2016-12-31 ZAC105.23 Billion
≈ $55.92 Million		 -30.70%
2015-12-31 ZAC151.84 Billion
≈ $80.69 Million		 +13.79%
2014-12-31 ZAC133.44 Billion
≈ $70.92 Million		 +11.41%
2013-12-31 ZAC119.77 Billion
≈ $63.65 Million		 +28.94%
2012-12-31 ZAC92.89 Billion
≈ $49.36 Million		 +0.20%
2011-12-31 ZAC92.70 Billion
≈ $49.26 Million		 +25.14%
2010-12-31 ZAC74.07 Billion
≈ $39.37 Million		 +1.66%
2009-12-31 ZAC72.87 Billion
≈ $38.72 Million		 -9.53%
2008-12-31 ZAC80.54 Billion
≈ $42.80 Million		 +56.39%
2007-12-31 ZAC51.50 Billion
≈ $27.37 Million		 +20.53%
2006-12-31 ZAC42.73 Billion
≈ $22.71 Million		 +85.01%
2005-12-31 ZAC23.10 Billion
≈ $12.27 Million		 +8.61%
2003-12-31 ZAC21.27 Billion
≈ $11.30 Million		 +18.51%
2002-12-31 ZAC17.95 Billion
≈ $9.54 Million		 +7.22%
2001-12-31 ZAC16.74 Billion
≈ $8.89 Million		 --

Equity Component Analysis

This analysis shows how different components contribute to MTN Group Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

  • Retained earnings have grown by 6318.4% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component Amount Percentage
Retained Earnings ZAC100.64 Billion 69.41%
Other Comprehensive Income ZAC5.36 Billion 3.70%
Other Components ZAC39.00 Billion 26.90%
Total Equity ZAC145.00 Billion 100.00%

MTN Group Ltd Competitors by Market Cap

The table below lists competitors of MTN Group Ltd ranked by their market capitalization.

Company Market Cap
VOLKSWAGEN AG VZ ADR1/10
F:VOWB
 $20.97 Billion
Indian Oil Corporation Limited
NSE:IOC
 $20.98 Billion
Helvetia Holding AG
SW:HBAN
 $20.98 Billion
JCET Group Co Ltd
SHG:600584
 $20.98 Billion
SBA Communications Corp
NASDAQ:SBAC
 $20.95 Billion
Laboratory Corporation of America Holdings
NYSE:LH
 $20.92 Billion
Ulta Beauty Inc
NASDAQ:ULTA
 $20.90 Billion
Woodward Inc
NASDAQ:WWD
 $20.87 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in MTN Group Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2024 to 2025, total equity changed from 123,445,000,000 to 144,997,000,000, a change of 21,552,000,000 (17.5%).
  • Net income of 20,262,000,000 contributed positively to equity growth.
  • Dividend payments of 6,235,000,000 reduced retained earnings.
  • Share repurchases of 513,000,000 reduced equity.
  • New share issuances of 3,433,000,000 increased equity.
  • Other comprehensive income increased equity by 557,000,000.
  • Other factors increased equity by 4,048,000,000.

Equity Change Factors (2024 to 2025)

Factor Impact Contribution
Net Income ZAC20.26 Billion +13.97%
Dividends Paid ZAC6.24 Billion -4.3%
Share Repurchases ZAC513.00 Million -0.35%
Share Issuances ZAC3.43 Billion +2.37%
Other Comprehensive Income ZAC557.00 Million +0.38%
Other Changes ZAC4.05 Billion +2.79%
Total Change ZAC- 17.46%

Book Value vs Market Value Analysis

This analysis compares MTN Group Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

  • Current price-to-book ratio: 273.09x
  • The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
  • The price-to-book ratio has decreased from 2207.78x to 273.09x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2001-12-31 ZAC9.75 ZAC21520.00 x
2002-12-31 ZAC10.36 ZAC21520.00 x
2003-12-31 ZAC12.00 ZAC21520.00 x
2005-12-31 ZAC11.75 ZAC21520.00 x
2006-12-31 ZAC21.91 ZAC21520.00 x
2007-12-31 ZAC25.23 ZAC21520.00 x
2008-12-31 ZAC40.74 ZAC21520.00 x
2009-12-31 ZAC37.35 ZAC21520.00 x
2010-12-31 ZAC38.80 ZAC21520.00 x
2011-12-31 ZAC47.58 ZAC21520.00 x
2012-12-31 ZAC48.13 ZAC21520.00 x
2013-12-31 ZAC62.11 ZAC21520.00 x
2014-12-31 ZAC69.80 ZAC21520.00 x
2015-12-31 ZAC80.11 ZAC21520.00 x
2016-12-31 ZAC54.94 ZAC21520.00 x
2017-12-31 ZAC50.72 ZAC21520.00 x
2018-12-31 ZAC46.48 ZAC21520.00 x
2019-12-31 ZAC45.96 ZAC21520.00 x
2020-12-31 ZAC56.59 ZAC21520.00 x
2021-12-31 ZAC60.05 ZAC21520.00 x
2022-12-31 ZAC62.96 ZAC21520.00 x
2023-12-31 ZAC75.74 ZAC21520.00 x
2024-12-31 ZAC68.33 ZAC21520.00 x
2025-12-31 ZAC78.80 ZAC21520.00 x

Capital Efficiency Dashboard

This dashboard shows how efficiently MTN Group Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

  • Current Return on Equity (ROE): 13.97%
  • The company shows good efficiency in utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 8.94%
  • • Asset Turnover: 0.45x
  • • Equity Multiplier: 3.44x
  • Recent ROE (13.97%) is below the historical average (16.18%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2001 3.44% 4.41% 0.45x 1.72x ZAC-1.04 Billion
2002 13.00% 11.43% 0.69x 1.65x ZAC511.70 Million
2003 21.73% 18.06% 0.75x 1.61x ZAC2.33 Billion
2005 34.00% 24.64% 0.61x 2.27x ZAC4.73 Billion
2006 31.27% 23.45% 0.53x 2.50x ZAC8.23 Billion
2007 25.18% 16.29% 0.63x 2.44x ZAC7.18 Billion
2008 22.43% 16.71% 0.60x 2.23x ZAC9.50 Billion
2009 24.51% 15.33% 0.72x 2.23x ZAC10.16 Billion
2010 23.42% 14.67% 0.74x 2.15x ZAC9.64 Billion
2011 26.76% 19.52% 0.67x 2.04x ZAC14.90 Billion
2012 23.26% 15.32% 0.74x 2.04x ZAC11.80 Billion
2013 22.97% 19.26% 0.60x 1.98x ZAC14.85 Billion
2014 24.96% 21.83% 0.58x 1.97x ZAC19.23 Billion
2015 13.80% 13.74% 0.47x 2.14x ZAC5.57 Billion
2016 -2.55% -1.77% 0.55x 2.62x ZAC-12.85 Billion
2017 4.76% 3.32% 0.55x 2.61x ZAC-4.86 Billion
2018 10.28% 6.48% 0.55x 2.88x ZAC239.10 Million
2019 10.68% 5.92% 0.50x 3.60x ZAC573.30 Million
2020 16.55% 9.49% 0.51x 3.39x ZAC6.73 Billion
2021 12.38% 7.57% 0.50x 3.29x ZAC2.65 Billion
2022 16.33% 9.20% 0.53x 3.36x ZAC7.38 Billion
2023 2.94% 1.85% 0.51x 3.12x ZAC-9.83 Billion
2024 -7.77% -5.10% 0.44x 3.49x ZAC-21.94 Billion
2025 13.97% 8.94% 0.45x 3.44x ZAC5.76 Billion

Industry Comparison

This section compares MTN Group Ltd's net assets metrics with peer companies in the Telecom Services industry.

Industry Context

  • Industry: Telecom Services
  • Average net assets among peers: $34,149,284,942
  • Average return on equity (ROE) among peers: 13.11%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
MTN Group Ltd (MTN) ZAC169.73 Billion 3.44% 1.94x $20.96 Billion
Blue Label Telecoms Ltd (BLU) $5.00 Billion 15.73% 0.74x $411.91 Million
Telkom (TKG) $27.91 Billion 13.61% 0.72x $1.63 Billion
Telemasters Holdings Ltd (TLM) $34.70 Million 7.08% 0.58x $3.91 Million
Vodacom Group Ltd (VOD) $103.65 Billion 16.01% 1.41x $15.45 Billion

About MTN Group Ltd

JSE:MTN South Africa Telecom Services
Market Cap
$20.96 Billion
ZAC39.45 Trillion ZAC
Market Cap Rank
#1231 Global
#9 in South Africa
Share Price
ZAC21520.00
Change (1 day)
+0.02%
52-Week Range
ZAC12670.00 - ZAC21920.00
All Time High
ZAC21920.00
Categories
Companies in South Africa Telecom Services
About

MTN Group Limited, together with its subsidiaries, provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa. The company offers data, voice and SMS, interconnect, and roaming services; and sells mobile devices. It also provides digital and fintech services, such as value-added services, rich media se… Read more