Key Performance Metrics

  • The review of Net Profit Margin witnessed a mixed trend. The Net Profit Margin moved from 24.97% in 2019 to 16.88% in 2023.
  • The average EBIT Margin for the period under analysis was 34.69% with 2019 and 2020 performing the worst and best, respectively.
  • In the current year, Safaricom ICR was 7.61 times in the current year- compared to 2019 when it was 171.10
  • The Asset Turnover stood at73times in 2023 from 1.85 in 2019, implying a poor performance or Assets of the business in relation to revenue.


  • The revenue of Safaricom has increased year on year. The revenue increased by 4.90% between 2019 and 2020 and a further 0.56% increase was recorded between 2020 and 2021. There also occurred an increase of 4.30% between 2022 and 2023 (the current period). 
  • Safaricom’s performance in profitability looks good as the return on capital employed also recorded good performance during the period of analysis.


  • The company’s result in liquidity looks poor, as current ratio/acid test increase from 1.08:1/1.04:1 to 0.52:1/0.49:1 on the last year. Which implies that the company does not have enough assets to settle its current liabilities.

Capital Structure

  • Safaricom is both equity and debt financed.
  • The debt-to-equity (D/E) ratio has been falling year on year. The gearing position of the company appears to be low as it stood at 0.93 in the current year.

Source: Safaricom Annual Report

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