A 
Airtel Africa AAF.L · GBp
Communication Services · Wireless Telecommunication Services · LSE · 🇬🇧 United Kingdom
FTSE 100
287.00p
+3.39%
Close of 9 Nov 2026, in pence
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At a glance
Figures in USD, from our data supplier.
Revenue
$6.42bn
FY2017FY2026
Net income
$679.0m
FY2017FY2026
Free cash flow
$1.60bn
FY2017FY2026
Shareholders' equity
$3.15bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.42bn | $4.96bn | $5.00bn | $5.25bn | $4.71bn | $3.91bn | $3.42bn | $3.08bn | $2.91bn | $2.88bn |
| Gross profit | $4.68bn | $3.48bn | $3.19bn | $3.58bn | $3.25bn | $2.64bn | $2.23bn | $1.88bn | $1.70bn | $1.59bn |
| Operating income | $2.13bn | $1.30bn | $1.64bn | $1.76bn | $1.53bn | $1.54bn | $1.20bn | $734.0m | $552.0m | $173.0m |
| Net income | $679.0m | $220.0m | −$165.0m | $663.0m | $631.0m | $339.0m | $370.0m | $412.0m | −$138.0m | −$630.0m |
| Diluted earnings per share | 0.19 | 0.06 | -0.04 | 0.22 | 0.17 | 0.09 | 0.10 | 0.11 | -0.04 | -0.17 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $13.96bn | $12.02bn | $9.86bn | $11.17bn | $10.36bn | $9.99bn | $9.32bn | $9.11bn | $8.51bn | $8.60bn |
| Cash and short-term investments | $2.25bn | $628.0m | $966.0m | $1.33bn | $1.52bn | $1.14bn | $1.08bn | $936.0m | $358.0m | $176.0m |
| Total liabilities | $10.47bn | $9.25bn | $7.56bn | $7.36bn | $6.71bn | $6.64bn | $6.04bn | $6.68bn | $9.82bn | $9.60bn |
| Debt | — | $5.98bn | $4.46bn | $4.22bn | $3.93bn | $4.62bn | $4.28bn | $4.84bn | $7.93bn | $7.71bn |
| Shareholders' equity | $3.15bn | $2.49bn | $2.16bn | $3.63bn | $3.50bn | $3.40bn | $3.39bn | $2.63bn | −$1.08bn | −$768.0m |
| Shares outstanding | 3,646m | 3,648m | 3,694m | 3,000m | 3,739m | 3,780m | 3,800m | 3,750m | 3,758m | 3,646m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $2.34bn | $2.27bn | $2.26bn | $2.21bn | $2.01bn | $1.67bn | $1.39bn | $1.03bn | $831.0m | $421.0m |
| Capital spending | −$740.9m | −$859.0m | −$1.03bn | −$1.28bn | −$739.0m | −$915.0m | −$811.0m | −$693.0m | −$346.0m | −$574.0m |
| Free cash flow | $1.60bn | $1.41bn | $1.23bn | $927.0m | $1.27bn | $751.0m | $576.0m | $337.0m | $485.0m | −$153.0m |
| Dividends paid | −$242.1m | −$229.0m | −$212.0m | −$195.0m | −$169.0m | −$169.0m | −$113.0m | −$113.0m | −$113.0m | −$113.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.84bn | $1.75bn | $1.69bn | $1.56bn | $1.42bn | $1.32bn | $1.27bn | $1.21bn |
| Gross profit | $954.2m | $1.29bn | $1.25bn | $790.4m | $1.01bn | $925.0m | $899.0m | $856.0m |
| Operating income | $629.2m | $591.0m | $577.7m | $514.9m | $446.0m | $376.0m | $375.0m | $371.0m |
| Net income | $159.0m | $199.0m | $177.0m | $176.6m | $126.0m | $56.0m | $133.0m | $24.0m |
| Diluted earnings per share | 0.04 | 0.05 | 0.05 | 0.05 | 0.03 | 0.02 | 0.04 | 0.01 |
| Cash from operations | $548.0m | $678.0m | $918.0m | $643.0m | $568.0m | $643.0m | $644.0m | $565.0m |
| Capital spending | −$318.0m | −$245.0m | −$236.0m | −$149.0m | −$157.0m | −$177.0m | −$170.0m | −$271.0m |
| Free cash flow | $230.0m | $433.0m | $682.0m | $494.0m | $411.0m | $466.0m | $474.0m | $294.0m |
| Total assets | $14.44bn | $13.96bn | $13.44bn | $12.91bn | $12.43bn | $12.02bn | $11.39bn | $10.65bn |
| Cash and short-term investments | $2.35bn | $2.25bn | $835.0m | $1.89bn | $784.0m | $628.0m | $562.0m | $514.0m |
| Debt | $1.51bn | $2.52bn | $2.60bn | $1.33bn | $2.66bn | $2.55bn | $2.50bn | $2.45bn |
| Shareholders' equity | $3.24bn | $3.15bn | $2.86bn | $2.75bn | $2.60bn | $2.49bn | $2.37bn | $2.03bn |
Financial ratios
Data as of 28 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 72.9% | 70.3% | 63.7% | 68.1% | 68.9% | 67.6% |
| Operating margin | 33.1% | 26.3% | 32.8% | 33.4% | 32.6% | 39.5% |
| Net margin | 10.6% | 4.4% | -3.3% | 12.6% | 13.4% | 8.7% |
| Return on equity | 21.6% | 8.8% | -7.6% | 18.2% | 18.0% | 10.0% |
| Return on assets | 4.9% | 1.8% | -1.7% | 5.9% | 6.1% | 3.4% |
| Free cash flow yield | 0.3% | 0.3% | 0.3% | 0.4% | 0.2% | 0.2% |
| Revenue growth | 29.5% | -0.9% | -4.9% | 11.5% | 20.6% | 14.2% |
| Earnings growth | 208.6% | -233.3% | -124.9% | 5.1% | 86.1% | -8.4% |
| Current ratio | 0.58x | 0.51x | 0.57x | 0.53x | 0.65x | 0.54x |
| Debt to equity | 0.80x | 1.03x | 1.26x | 0.71x | 0.74x | 1.05x |
| Equity ratio | 22.5% | 20.7% | 21.9% | 32.6% | 33.8% | 34.1% |
| Interest coverage | 2.70x | 2.05x | 3.77x | 4.85x | 4.95x | 5.04x |
| Buybacks as a share of market value | 0.1% | 1.3% | -23.1% | 19.8% | 1.1% | 0.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.2% | 9.8% | — |
| Operating income | 6.6% | 6.6% | — |
| Net income | 0.8% | 14.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 71.8% | 69.0% | 68.8% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | 20.1 | 79.7 | -34.4 | 8.0 | 9.0 | 20.2 | 10.5 |
| Price to sales | 2.5 | 4.1 | 1.3 | 1.2 | 1.3 | 2.0 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 7 years. Last went ex-dividend on 18 Jun 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.042 | 0.067 | 0.092 | 0.057 | 0.052 | 0.045 | 0.045 | 0.03 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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