Airtel Africa plc/ADR (AARTY)
Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa. It offers pre and post-paid wireless voice, international roaming, and fixed line telephony services; data services, including 4G and 5G, home broadband, fibre, and data centers; and mobile money services, such as digital wallet payments systems, microloans, merchant, savings, international, and international money transfers. The company also provides messaging, value added, and tower sharing services, as well as infrastructure sharing, mobile commerce, and support services. The company was incorporated in 2018 and is based in London, the United Kingdom. Airtel Africa Plc is a subsidiary of Airtel Africa Mauritius Limited.
Industry: Telecommunications Services
Airtel Africa Plc
OTC:AARTYCommunication Services · Telecommunications Services
+1.08%$36.03
Mkt Cap-
Float75.66M
O/S-
Vol
$ Vol
RVOL
Inst Own-
SI<0.1%
Earnings
Div Yield1.78%
Dilution
Financials Summary
Revenue$6.42B
Net Income$679M
Total Assets$13.96B
Free Cash Flow$2.32B
Debt & Equity
Debt 67%
Equity 33%
Total Debt$6.41B
Total Equity$3.15B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in AARTY's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$13.96B
Liabilities$10.47B
Accounts Receivable$397M
Accounts Payable$612M
Inventory$16M
PP&E (Net)$6.26B
Goodwill$3.24B
Intangible Assets$896M
Income Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 | 2018-03-31 | 2017-03-31 |
| Revenue | $6.42B | $4.98B | $5B | $5.25B | $4.71B | $3.91B | $3.42B | $3.08B | $2.91B | $2.88B |
| YoY Growth | 28.9% | -0.5% | -4.9% | 11.5% | 20.6% | 14.2% | 11.2% | 5.7% | 0.9% | - |
| Cost of Revenue | $1.74B | $1.77B | $1.81B | $1.68B | $1.47B | $1.27B | $1.19B | $1.2B | $1.21B | $1.29B |
| Gross Profit | $4.68B | $3.2B | $3.19B | $3.58B | $3.25B | $2.64B | $2.23B | $1.88B | $1.7B | $1.59B |
| Gross Margin | 72.9% | 64.3% | 63.7% | 68.1% | 68.9% | 67.6% | 65.1% | 61.1% | 58.3% | 55.2% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $909M | $650M | $576M | $521M | $224M | $187M | $152M | $186M | $174M | $257M |
| Other | $1.64B | $1.09B | $969M | $1.28B | $1.48B | $1.33B | $1.18B | -$4M | $10M | $12M |
| Total Operating Expenses | $2.55B | $1.75B | $1.54B | $1.81B | $1.71B | $1.51B | $1.33B | $1.14B | $1.14B | $1.42B |
| Operating Income (EBIT) | $2.13B | $1.46B | $1.64B | $1.76B | $1.53B | $1.12B | -$901M | $734M | $552M | $173M |
| Operating Margin | 33.1% | 29.3% | 32.8% | 33.4% | 32.6% | 28.6% | -26.3% | 23.9% | 19.0% | 6.0% |
| Interest Expense | $786M | $664M | $435M | $414.29M | $342.31M | $342.31M | $330.44M | $348.36M | $379.49M | $347M |
| Interest Income | $27M | $20.03M | $38M | $29M | $9.09M | $9.09M | $29.04M | $20.96M | $16.02M | $16M |
| Other Income (Expense) | -$707M | -$796M | -$1.7B | -$723M | -$311M | -$422M | $0 | -$386M | -$561M | -$825M |
| Income Before Tax (EBT) | $1.42B | $661M | -$63M | $1.03B | $1.22B | $697M | $598M | $372M | -$9M | -$652M |
| Income Tax Expense | $606M | $333M | $26M | $284M | $469M | $282M | $190M | -$78M | $125M | $117M |
| Net Income | $679M | $220M | -$165M | $663M | $631M | $339M | $370M | $412M | -$138M | -$630M |
| Net Income Margin | 10.6% | 4.4% | -3.3% | 12.6% | 13.4% | 8.7% | 10.8% | 13.4% | -4.7% | -21.8% |
| Supplementary Data | ||||||||||
| EPS | 1.90 | 0.59 | -0.44 | 1.80 | 1.70 | 0.90 | 1.00 | 1.10 | -0.37 | -1.70 |
| Diluted EPS | 1.90 | 0.59 | -0.44 | 1.80 | 1.70 | 0.90 | 1.00 | 1.10 | -0.37 | -1.70 |
| Weighted Average OS | 365.03M | 370.78M | 375.06M | 375.17M | 375.42M | 375.76M | 358.56M | 375.82M | 375.82M | 375.82M |
| EBITDA | $3.25B | $2.3B | $2.43B | $2.21B | $2.28B | $1.68B | $1.53B | $1.24B | $1.01B | $355M |
| EBITDA Margin | 50.7% | 46.3% | 48.6% | 42.1% | 48.3% | 43.1% | 44.7% | 40.4% | 34.6% | 12.3% |
Balance Sheet
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 | 2018-03-31 | 2017-03-31 |
| Assets | ||||||||||
| Current Assets | ||||||||||
| Cash and Cash Equivalents | $646M | $552M | $620M | $586M | $638M | $813M | $1.01B | $848M | $232M | $102M |
| Short-Term Investments | $209M | $76M | $346M | $117M | $344M | $323M | $72M | $88M | $126M | $74M |
| Cash and Short-Term Investments | $855M | $628M | $966M | $1.33B | $1.53B | $1.14B | $1.08B | $936M | $358M | $176M |
| Accounts Receivable | $397M | $203M | $219M | $204M | $176M | $156M | $169M | $163M | $155M | $147M |
| Inventory | $16M | $19M | $26M | $15M | $3M | $7M | $3M | $3M | $2M | $4M |
| Other Current Assets | $1.54B | $1.31B | $1.02B | $276M | $176M | $519M | $331M | $324M | $475M | $296M |
| Total Current Assets | $2.9B | $2.16B | $2.29B | $1.9B | $2B | $1.91B | $1.67B | $1.43B | $959M | $671M |
| Long-Term Assets | ||||||||||
| Property, Plant & Equipment Net | $6.26B | $5.31B | $3.54B | $3.94B | $3.51B | $3.03B | $2.73B | $2.62B | $2.47B | $2.48B |
| Goodwill | $3.24B | $3.01B | $2.57B | $3.52B | $3.83B | $3.83B | $3.94B | $4.13B | $4.32B | $4.4B |
| Intangible Assets | $896M | $818M | $729M | $1.21B | $634M | $735M | $486M | $419M | $418M | $477M |
| Long-Term Investments | $6M | $5M | $5M | -$221M | -$331M | -$310M | -$62M | -$70M | -$118M | -$63M |
| Deferred Tax Assets | $428M | $509M | $543M | $337M | $222M | $314M | $333M | $346M | $198M | $248M |
| Other Long-Term Assets | $231M | $722M | $182M | $483M | $503M | $482M | $224M | $247M | $257M | $391M |
| Total Long-Term Assets | $11.06B | $9.86B | $7.57B | $9.27B | $8.37B | $8.09B | $7.65B | $7.68B | $7.55B | $7.93B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $13.96B | $12.02B | $9.86B | $11.17B | $10.36B | $9.99B | $9.32B | $9.11B | $8.51B | $8.6B |
| Liabilities | ||||||||||
| Current Liabilities | ||||||||||
| Accounts Payable | $612M | $485M | $422M | $460M | $404M | $366M | $416M | $470M | $694M | $919M |
| Short-Term Debt | $1.02B | $1.09B | $1.43B | $945M | $786M | $1.47B | $664M | $1.18B | $2.88B | $1.49B |
| Current Income Tax Payable | $438M | $0 | $301M | $194M | $220M | $173M | $144M | $207M | $287M | $315M |
| Current Unearned Revenue | $0 | $0 | $156M | $1.58B | $1.38B | $1.28B | $1.09B | $207M | $287M | $315M |
| Other Current Liabilities | $2.27B | $1.81B | $1.55B | -$74M | -$82M | -$97M | -$83M | $1.08B | $342M | $164M |
| Total Current Liabilities | $4.99B | $4.24B | $4.05B | $3.57B | $3.07B | $3.5B | $2.49B | $3.11B | $4.7B | $3.35B |
| Long-Term Liabilities | ||||||||||
| Long-Term Debt | $1.17B | $1.23B | $947M | $1.23B | $1.49B | $1.87B | $2.45B | $2.44B | $3.82B | $4.93B |
| Long-Term Unearned Revenue | $43M | $3M | $16M | $13M | $18M | $24M | $29M | $34M | $55M | $68M |
| Long-Term Deferred Tax Liabilities | $136M | $106M | $67M | $108M | $114M | $81M | $69M | $33M | $36M | $17M |
| Other Long-Term Liabilities | $240M | $241M | $753M | $780M | $687M | $122M | $42M | $36M | $241M | $171M |
| Total Long-Term Liabilities | $5.48B | $5.01B | $3.52B | $3.79B | $3.64B | $3.13B | $3.56B | $3.58B | $5.13B | $6.25B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $10.47B | $9.25B | $7.56B | $7.36B | $6.71B | $6.64B | $6.04B | $6.68B | $9.82B | $9.6B |
| Stockholders' Equity | ||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $1.81B | $1.45B | $1.3B | $0 | $0 | $0 |
| Common Stock | $1.83B | $1.83B | $1.88B | $1.88B | $1.88B | $1.88B | $3.42B | $3.08B | $2.36B | $2.36B |
| Retained Earnings | $5.31B | $4.92B | $5.06B | $3.9B | $3.44B | $2.98B | $2.81B | $1.69B | -$3.79B | -$3.63B |
| Comprehensive Income & Other | -$3.97B | -$4.27B | -$4.76B | -$2.13B | -$1.81B | -$1.45B | -$1.3B | -$1.24B | -$1.02B | -$728M |
| Other Stockholders' Equity | -$3.99B | -$4.27B | -$4.77B | -$2.15B | -$1.81B | -$1.45B | -$2.84B | -$2.14B | $350M | $505M |
| Total Equity | $3.15B | $2.49B | $2.16B | $3.63B | $3.5B | $3.4B | $3.39B | $2.63B | -$1.08B | -$768M |
| Minority Interest | $340M | $289M | $140M | $173M | $147M | -$52M | -$107M | -$196M | -$232M | -$230M |
| Total Liabilities and Equity | $13.62B | $11.73B | $9.72B | $10.99B | $10.22B | $10.04B | $9.43B | $9.31B | $8.74B | $8.83B |
| Supplementary Data | ||||||||||
| Total Debt | $6.41B | $5.98B | $4.46B | $4.22B | $3.93B | $4.62B | $4.28B | $4.84B | $7.93B | $7.71B |
| Net Debt | $5.77B | $5.43B | $3.84B | $3.64B | $3.29B | $3.8B | $3.27B | $3.99B | $7.7B | $7.6B |
Cash Flow Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 | 2018-03-31 | 2017-03-31 |
| Operating Activities | ||||||||||
| Net Income | $1.42B | $220M | -$63M | $1.03B | $1.22B | $697M | $598M | $372M | -$9M | -$652M |
| Depreciation & Amortization | $1.05B | $831M | $788M | $818M | $744M | $681M | $632M | $573M | $577M | $660M |
| Deferred Income Tax | $0 | $0 | $0 | -$1M | -$2M | -$1M | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $5M | $3M | $1M | $2M | $1M | $0 | $2M | $2M | -$2M |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | $16M | -$30M | -$79M | -$45M | -$18M | -$8M | -$11M | -$29M | -$38M | -$199M |
| Inventory | -$2M | $1M | -$16M | -$13M | $4M | -$4M | -$1M | -$1M | $3M | $10M |
| Accounts Payable | $0 | $0 | $56.08M | $45M | $18M | $8M | $11M | $0 | $0 | $0 |
| Other Working Capital | $387M | $232M | $214.3M | $41M | $27M | $80M | $14M | -$177M | -$186M | -$370M |
| Total Working Capital Change | $401M | $203M | $175M | $28M | $31M | $76M | $13M | -$178M | -$183M | -$360M |
| Other Non-Cash Items | $328M | $1.01B | $1.36B | $328M | $12M | $212M | $144M | $263M | $446M | $773M |
| Net Cash from Operating | $3.19B | $2.27B | $2.26B | $2.21B | $2.01B | $1.67B | $1.39B | $1.03B | $831M | $421M |
| Investing Activities | ||||||||||
| Capital Expenditures | -$753M | -$736M | -$868M | -$1.28B | -$739M | -$915M | -$811M | -$693M | -$346M | -$574M |
| Acquisitions | $0 | $0 | $0 | $502M | $79M | $0 | -$19M | $0 | -$19M | $7M |
| Purchases of Investments | -$459M | -$123M | -$963M | -$126M | -$388M | -$257M | $0 | $0 | $0 | $0 |
| Sales of Investments | $325M | $394M | $731M | $350M | $301M | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$99M | $174M | -$128M | -$471M | $190M | $14M | $29M | $63M | $82M | $169M |
| Net Cash from Investing | -$986M | -$562M | -$1.23B | -$1.03B | -$557M | -$1.16B | -$801M | -$630M | -$283M | -$398M |
| Financing Activities | ||||||||||
| Debt Repaid | $31M | $239M | -$163M | $112M | $1.14B | -$142M | $546M | $1.61B | -$47M | $476M |
| Common Stock Issuance | $0 | $0 | $51M | -$8M | $0 | $0 | $680M | $2.39B | $0 | $0 |
| Common Stock Repurchases | -$74M | -$120M | -$9M | $0 | -$6M | -$4M | $0 | $0 | $0 | $0 |
| Dividends Paid | -$246M | -$229M | -$212M | -$195M | -$169M | -$169M | -$113M | $0 | $0 | $0 |
| Other Financing Activities | -$1.24B | -$955M | -$513M | -$524M | -$39M | -$336M | $478M | -$594M | -$75M | $416M |
| Net Cash from Financing | -$1.59B | -$1.54B | -$844M | -$1.12B | -$1.61B | -$575M | -$370M | $179M | -$409M | -$60M |
| Forex Effect | $107M | -$1M | -$128M | -$70M | -$3M | -$17M | $1M | $4M | $1M | -$17M |
| Net Change in Cash | $725M | $160M | $59M | -$6M | -$156M | -$84M | $217M | $583M | $140M | -$54M |
| Supplementary Data | ||||||||||
| Operating Cash Flow | $3.19B | $2.27B | $2.26B | $2.21B | $2.01B | $1.67B | $1.39B | $1.03B | $831M | $421M |
| Capital Expenditure | -$875M | -$736M | -$1.03B | -$1.28B | -$739M | -$915M | -$811M | -$693M | -$346M | -$574M |
| Free Cash Flow | $2.32B | $1.53B | $1.23B | $927M | $1.27B | $751M | $576M | $337M | $485M | -$153M |
| Cash at Beginning | $1.06B | $900M | $841M | $847M | $1B | $1.09B | $870M | $49M | -$91M | -$37M |
| Cash at End | $1.78B | $1.06B | $900M | $841M | $847M | $1B | $1.09B | $632M | $49M | -$91M |