Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Airtel Africa Plc is a British public limited company delivering telecommunications and mobile money services across 14 countries in East, Central, and West Africa, including Nigeria, Kenya, Uganda, and Tanzania. Majority owned by Bharti Airtel, it specializes in mobile voice, data connectivity, and financial services like Airtel Money, enabling access for the unconnected and financially excluded in sub-Saharan Africa. The company leads markets in several nations, such as Malawi with 72% share and Chad with 43%, serving over 166 million customers as of March 2025 through extensive network investments, including 5G spectrum and data centers via Nxtra by Airtel. Notable for its 'One Network' feature allowing seamless roaming at home rates, Airtel Africa has grown via strategic acquisitions like Zain's African operations in 2010 and Tigo Rwanda in 2018, while optimizing its portfolio by divesting non-core assets. Listed on the London Stock Exchange since 2019 and a FTSE 100 constituent, it plays a pivotal role in bridging the digital divide, supporting sustainable development amid rising demand for affordable mobile services in a region projected to add 200 million subscribers by 2030.
£3.43
+£0.06 (+1.78%)
EOD Jul 3, 2026
33.14% operating margin is above average. ROIC at 13.06%.
Revenue up 29.5% YoY with margins expanding 3.6pp.
Even for strong businesses, today's 21x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
20.9x earnings, 7.3x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$6.42B
▲ +29.5% YoY
Net Income (TTM)
$813M
▲ +147.9% YoY
Op. Margin
33.14%
▲ +3.6pp YoY
ROIC
13.06%
▲ +3.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2.32B
▲ +64.9% YoY
Op. Cash Flow (TTM)
$2.61B
▲ +77.1% YoY
Net Debt
$5.53B
Cash & Equiv.
$878M
3Y CAGR: +6.9%
3Y CAGR: +34.8%
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At a P/E of 20.9 and a price-to-free-cash-flow of 7.3, Airtel Africa (AAF.XLON) trades below a two-stage DCF intrinsic value of about $19.27 per share, so at $3.43 the stock looks undervalued (461.2% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Airtel Africa scores 68/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 1.4%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $19.27 per share for AAF.XLON, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $14.45. At today's $3.43, that puts the stock about 461.2% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Airtel Africa scores 68 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a solid business on these measures. Recent fundamentals include a 33.1% operating margin and a 13.1% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Airtel Africa pays a regular dividend of about $0.07 per share per year (typically in quarterly installments), a yield of roughly 1.4% at the current price. That is a payout ratio of about 30.3% of earnings, so the dividend is amply covered by earnings. Airtel Africa has grown the dividend at roughly 9.8% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For AAF.XLON's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. AAF.XLON currently trades below its estimated intrinsic value and scores 68/100 on quality (solid). It also yields about 1.4%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.