MTN Nigeria Communications PLC (NGX:MTNN)
Nigeria · Delayed Price · Currency is NGN 811.10
-1.90 (-0.23%)
At close: Sep 11, 2026
NGX:MTNN Cash Flow Statement
Financials in millions NGN. Fiscal year is January - December.
Millions NGN. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 | 1,405,531 | 1,112,846 | -399,448 | -133,841 | 351,382 | 298,654 |
Depreciation & Amortization | 682,576 | 603,022 | 486,917 | 384,684 | 306,683 | 266,037 |
Other Amortization | 88,282 | 69,304 | 53,276 | 48,680 | 33,258 | 30,470 |
Loss (Gain) From Sale of Assets | -2,636 | -2,477 | -2,193 | -752 | -1,381 | -1,692 |
Asset Writedown & Restructuring Costs | 167 | 672 | -1,117 | 4,221 | 761 | 500 |
Loss (Gain) From Sale of Investments | 594 | 3,008 | 5,233 | -1,369 | -589 | 8 |
Stock-Based Compensation | - | - | - | - | - | 6,274 |
Provision & Write-off of Bad Debts | 13,017 | - | - | 998 | 4,575 | -1,864 |
Other Operating Activities | 490,498 | 457,104 | 628,416 | 536,763 | 80,425 | 50,524 |
Change in Accounts Receivable | -73,987 | -46,122 | -167,568 | -14,842 | -68,394 | -75,428 |
Change in Inventory | -37,330 | -27,361 | 3,281 | -3,402 | -4,257 | -1,156 |
Change in Accounts Payable | 153,406 | 73,090 | 260,719 | 175,943 | 127,894 | 191,705 |
Change in Unearned Revenue | 30,386 | 20,866 | 14,476 | 9,935 | 20,525 | 10,035 |
Change in Other Net Operating Assets | 145,669 | 52,949 | -13,091 | -2,775 | 12,781 | - |
Operating Cash Flow | 2,896,173 | 2,316,901 | 868,901 | 1,004,243 | 863,663 | 774,067 |
Operating Cash Flow Growth | 124.28% | 166.65% | -13.48% | 16.28% | 11.58% | 19.44% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 | -1,035,421 | -654,035 | -339,900 | -392,997 | -326,736 | -260,276 |
Sale of Property, Plant & Equipment | 3,097 | 2,903 | 2,643 | 1,225 | 4,582 | 3,642 |
Sale (Purchase) of Intangibles | -259,782 | -287,575 | -94,549 | -170,058 | -136,775 | -180,115 |
Investment in Securities | -276,933 | -104,184 | -27,931 | 30,806 | 37,957 | 107,114 |
Other Investing Activities | -36,259 | -97,147 | 221,338 | -252,248 | -65,006 | -98,523 |
Investing Cash Flow | -1,605,298 | -1,140,038 | -238,399 | -783,272 | -485,978 | -428,158 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 | - | 107,357 | 463,348 | 635,825 | 479,243 | 417,926 |
Long-Term Debt Repaid | - | -791,122 | -1,193,238 | -611,383 | -462,140 | -560,189 |
Lease Payments | -210,373 | -268,032 | -204,564 | -110,103 | -100,709 | -57,977 |
Net Debt Issued (Repaid) | -639,418 | -683,765 | -729,890 | 24,442 | 17,103 | -142,263 |
Repurchase of Common Stock | -16,965 | -509 | - | - | - | - |
Common Dividends Paid | -419,571 | -104,978 | - | -171,697 | -288,186 | -212,705 |
Other Financing Activities | -276 | -191 | -6,950 | - | 1,000 | - |
Financing Cash Flow | -1,076,230 | -789,443 | -736,840 | -147,255 | -270,083 | -354,968 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 | -12,910 | -8,134 | 14,579 | -78,336 | -19,308 | -5,272 |
Net Cash Flow | 201,735 | 379,286 | -91,759 | -4,620 | 88,294 | -14,331 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 | 1,860,752 | 1,662,866 | 529,001 | 611,246 | 536,927 | 513,791 |
Free Cash Flow Growth | 162.81% | 214.34% | -13.46% | 13.84% | 4.50% | 18.62% |
Free Cash Flow Margin | 31.98% | 31.95% | 15.74% | 24.76% | 26.68% | 31.06% |
Free Cash Flow Per Share | 88.73 | 79.30 | 25.23 | 29.15 | 25.61 | 25.24 |
Levered Free Cash Flow | 1,293,026 | 1,271,050 | 817,730 | 153,805 | 309,226 | 158,562 |
Unlevered Free Cash Flow | 1,591,476 | 1,596,608 | 1,084,821 | 300,288 | 400,259 | 244,577 |
Free Cash Flow After Leases | 1,650,379 | 1,394,834 | 324,437 | 501,143 | 436,218 | 455,814 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 | 483,746 | 534,419 | 438,506 | 212,965 | 145,653 | 137,603 |
Cash Income Tax Paid | 146,984 | 21,546 | 126,620 | 184,507 | 139,511 | 109,931 |
Change in Working Capital | 218,144 | 73,422 | 97,817 | 164,859 | 88,549 | 125,156 |