MTN Group Limited (JSE:MTN)
South Africa · Delayed Price · Currency is ZAR · Price in ZAc 19,320
-1,230 (-5.99%)
Aug 11, 2026, 5:12 PM SAST
MTN Group Cash Flow Statement
Financials in millions ZAR. Fiscal year is January - December.
Millions ZAR. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 20,262 | -9,369 | 4,092 | 19,037 | 13,750 |
Depreciation & Amortization | 34,270 | 31,417 | 37,383 | 31,278 | 31,061 |
Other Amortization | 6,015 | 5,211 | 5,862 | 4,122 | 4,270 |
Loss (Gain) From Sale of Assets | 84 | 806 | 832 | 707 | 4,641 |
Asset Writedown & Restructuring Costs | 3,244 | 12,357 | 850 | 467 | 1,128 |
Loss (Gain) From Sale of Investments | - | - | - | 342 | -1,212 |
Loss (Gain) on Equity Investments | -3,152 | -4,735 | -3,581 | -3,369 | -2,054 |
Stock-Based Compensation | 1,907 | 932 | 1,079 | 807 | 1,075 |
Provision & Write-off of Bad Debts | 1,804 | 2,528 | 1,330 | 1,579 | 1,116 |
Other Operating Activities | 16,713 | 14,352 | 20,332 | 15,898 | 9,657 |
Change in Accounts Receivable | -986 | -8,369 | -8,767 | -8,098 | -4,027 |
Change in Inventory | -218 | 303 | 828 | -611 | -97 |
Change in Accounts Payable | -1,999 | 485 | 3,818 | 5,962 | 7,978 |
Operating Cash Flow | 77,944 | 45,918 | 64,058 | 68,121 | 67,286 |
Operating Cash Flow Growth | 69.75% | -28.32% | -5.96% | 1.24% | 14.99% |
Investing Activities
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -30,907 | -24,288 | -32,187 | -31,398 | -24,413 |
Sale of Property, Plant & Equipment | 154 | 70 | 100 | 198 | 175 |
Cash Acquisitions | - | - | - | - | 68 |
Divestitures | - | -836 | - | 6,355 | -1,128 |
Sale (Purchase) of Intangibles | -9,425 | -6,675 | -13,710 | -13,786 | -10,812 |
Investment in Securities | 847 | -5,548 | 831 | 345 | 6,852 |
Other Investing Activities | -1,232 | 4,309 | -7,361 | -5,150 | -1,695 |
Investing Cash Flow | -40,930 | -33,341 | -52,255 | -43,436 | -30,953 |
Financing Activities
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Issued | 12,551 | 34,849 | 33,381 | 25,000 | 23,754 |
Long-Term Debt Repaid | -27,881 | -43,612 | -33,855 | -35,539 | -49,902 |
Net Debt Issued (Repaid) | -15,330 | -8,763 | -474 | -10,539 | -26,148 |
Issuance of Common Stock | 3,433 | 1,036 | 1,175 | 2,073 | 2,191 |
Repurchase of Common Stock | -513 | -1,237 | -1,299 | -1,417 | - |
Common Dividends Paid | -6,235 | -5,963 | -5,963 | -5,414 | - |
Other Financing Activities | -5,075 | -379 | -2,924 | -2,122 | -2,222 |
Financing Cash Flow | -23,720 | -15,306 | -9,485 | -17,419 | -26,179 |
Net Cash Flow
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -184 | -4,365 | -9,730 | -2,280 | -1,515 |
Miscellaneous Cash Flow Adjustments | -909 | -400 | 333 | -371 | -256 |
Net Cash Flow | 12,201 | -7,494 | -7,079 | 4,615 | 8,383 |
Free Cash Flow
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 47,037 | 21,630 | 31,871 | 36,723 | 42,873 |
Free Cash Flow Growth | 117.46% | -32.13% | -13.21% | -14.34% | 22.46% |
Free Cash Flow Margin | 20.74% | 11.47% | 14.40% | 17.74% | 23.60% |
Free Cash Flow Per Share | 25.56 | 11.97 | 17.34 | 19.83 | 23.18 |
Levered Free Cash Flow | 45,041 | 22,268 | 12,129 | 32,119 | 34,582 |
Unlevered Free Cash Flow | 57,528 | 33,957 | 23,975 | 41,064 | 42,794 |
Additional Metrics
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 18,302 | 16,395 | 16,284 | 14,417 | 12,145 |
Cash Income Tax Paid | 12,120 | 10,152 | 15,824 | 13,953 | 10,954 |
Change in Working Capital | -3,203 | -7,581 | -4,121 | -2,747 | 3,854 |