MILLICOM INTL CELLULAR S.A. (TIGO) Stock Fundamental Analysis
NASDAQ:TIGO • LU0038705702
65.71 USD
-0.02 (-0.03%)
At close: Feb 13, 2026
65.71 USD
0 (0%)
After Hours: 2/13/2026, 5:43:09 PM
We assign a fundamental rating of 5 out of 10 to TIGO. TIGO was compared to 22 industry peers in the Wireless Telecommunication Services industry. While TIGO belongs to the best of the industry regarding profitability, there are concerns on its financial health. TIGO has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
- TIGO had positive earnings in the past year.
- TIGO had a positive operating cash flow in the past year.
- The reported net income has been mixed in the past 5 years: TIGO reported negative net income in multiple years.
- Each year in the past 5 years TIGO had a positive operating cash flow.
1.2 Ratios
- TIGO's Return On Assets of 7.03% is amongst the best of the industry. TIGO outperforms 81.82% of its industry peers.
- The Return On Equity of TIGO (32.78%) is better than 90.91% of its industry peers.
- Looking at the Return On Invested Capital, with a value of 9.61%, TIGO belongs to the top of the industry, outperforming 81.82% of the companies in the same industry.
- Measured over the past 3 years, the Average Return On Invested Capital for TIGO is in line with the industry average of 6.60%.
- The 3 year average ROIC (6.73%) for TIGO is below the current ROIC(9.61%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.03% | ||
| ROE | 32.78% | ||
| ROIC | 9.61% |
ROA(3y)0.84%
ROA(5y)0.73%
ROE(3y)3.19%
ROE(5y)3.14%
ROIC(3y)6.73%
ROIC(5y)5.05%
1.3 Margins
- Looking at the Profit Margin, with a value of 19.59%, TIGO belongs to the top of the industry, outperforming 95.45% of the companies in the same industry.
- In the last couple of years the Profit Margin of TIGO has grown nicely.
- TIGO has a Operating Margin of 26.62%. This is amongst the best in the industry. TIGO outperforms 100.00% of its industry peers.
- In the last couple of years the Operating Margin of TIGO has grown nicely.
- The Gross Margin of TIGO (76.96%) is better than 86.36% of its industry peers.
- In the last couple of years the Gross Margin of TIGO has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 26.62% | ||
| PM (TTM) | 19.59% | ||
| GM | 76.96% |
OM growth 3Y33.38%
OM growth 5Y18.32%
PM growth 3Y-31.97%
PM growth 5Y4.87%
GM growth 3Y1.43%
GM growth 5Y0.99%
2. Health
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), TIGO is creating some value.
- The number of shares outstanding for TIGO remains at a similar level compared to 1 year ago.
- TIGO has more shares outstanding than it did 5 years ago.
- Compared to 1 year ago, TIGO has an improved debt to assets ratio.
2.2 Solvency
- Based on the Altman-Z score of 1.38, we must say that TIGO is in the distress zone and has some risk of bankruptcy.
- With a Altman-Z score value of 1.38, TIGO perfoms like the industry average, outperforming 59.09% of the companies in the same industry.
- TIGO has a debt to FCF ratio of 8.59. This is a slightly negative value and a sign of low solvency as TIGO would need 8.59 years to pay back of all of its debts.
- Looking at the Debt to FCF ratio, with a value of 8.59, TIGO is in line with its industry, outperforming 45.45% of the companies in the same industry.
- A Debt/Equity ratio of 2.33 is on the high side and indicates that TIGO has dependencies on debt financing.
- TIGO has a Debt to Equity ratio of 2.33. This is in the lower half of the industry: TIGO underperforms 68.18% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.33 | ||
| Debt/FCF | 8.59 | ||
| Altman-Z | 1.38 |
ROIC/WACC1.31
WACC7.34%
2.3 Liquidity
- TIGO has a Current Ratio of 0.92. This is a bad value and indicates that TIGO is not financially healthy enough and could expect problems in meeting its short term obligations.
- With a Current ratio value of 0.92, TIGO perfoms like the industry average, outperforming 54.55% of the companies in the same industry.
- A Quick Ratio of 0.89 indicates that TIGO may have some problems paying its short term obligations.
- TIGO has a Quick ratio (0.89) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.92 | ||
| Quick Ratio | 0.89 |
3. Growth
3.1 Past
- The Earnings Per Share has grown by an impressive 153.26% over the past year.
- TIGO shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.40% yearly.
- TIGO shows a decrease in Revenue. In the last year, the revenue decreased by -4.39%.
- Measured over the past years, TIGO shows a small growth in Revenue. The Revenue has been growing by 6.01% on average per year.
EPS 1Y (TTM)153.26%
EPS 3Y-37.04%
EPS 5Y-0.4%
EPS Q2Q%93.33%
Revenue 1Y (TTM)-4.39%
Revenue growth 3Y10.85%
Revenue growth 5Y6.01%
Sales Q2Q%-0.77%
3.2 Future
- Based on estimates for the next years, TIGO will show a very strong growth in Earnings Per Share. The EPS will grow by 29.70% on average per year.
- TIGO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.24% yearly.
EPS Next Y226.04%
EPS Next 2Y75.07%
EPS Next 3Y45.35%
EPS Next 5Y29.7%
Revenue Next Year-2.37%
Revenue Next 2Y7.26%
Revenue Next 3Y4.53%
Revenue Next 5Y2.24%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 28.20 indicates a quite expensive valuation of TIGO.
- TIGO's Price/Earnings is on the same level as the industry average.
- Compared to an average S&P500 Price/Earnings ratio of 27.97, TIGO is valued at the same level.
- Based on the Price/Forward Earnings ratio of 14.58, the valuation of TIGO can be described as correct.
- TIGO's Price/Forward Earnings ratio is in line with the industry average.
- When comparing the Price/Forward Earnings ratio of TIGO to the average of the S&P500 Index (27.96), we can say TIGO is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.2 | ||
| Fwd PE | 14.58 |
4.2 Price Multiples
- 68.18% of the companies in the same industry are more expensive than TIGO, based on the Enterprise Value to EBITDA ratio.
- TIGO's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. TIGO is cheaper than 63.64% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.17 | ||
| EV/EBITDA | 6.59 |
4.3 Compensation for Growth
- The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- TIGO has an outstanding profitability rating, which may justify a higher PE ratio.
- A more expensive valuation may be justified as TIGO's earnings are expected to grow with 45.35% in the coming years.
PEG (NY)0.12
PEG (5Y)N/A
EPS Next 2Y75.07%
EPS Next 3Y45.35%
5. Dividend
5.1 Amount
- TIGO has a Yearly Dividend Yield of 4.60%, which is a nice return.
- TIGO's Dividend Yield is a higher than the industry average which is at 6.51.
- Compared to an average S&P500 Dividend Yield of 1.79, TIGO pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.6% |
5.2 History
- TIGO has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DPN/A
EPS Next 2Y75.07%
EPS Next 3Y45.35%
65.71
-0.02 (-0.03%)
Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupTelecommunication Services
GICS IndustryWireless Telecommunication Services
Earnings (Last)11-06 2025-11-06/bmo
Earnings (Next)02-26 2026-02-26/amc
Inst Owners44.69%
Inst Owner Change0.87%
Ins Owners0.17%
Ins Owner ChangeN/A
Market Cap10.98B
Revenue(TTM)5.59B
Net Income(TTM)1.10B
Analysts74.55
Price Target55.23 (-15.95%)
Short Float %2.44%
Short Ratio2.34
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.6% |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-Date04-08 2026-04-08 (1.25)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-21.93%
Min EPS beat(2)-37.08%
Max EPS beat(2)-6.78%
EPS beat(4)1
Avg EPS beat(4)-22.88%
Min EPS beat(4)-74.67%
Max EPS beat(4)27.01%
EPS beat(8)2
Avg EPS beat(8)26.88%
EPS beat(12)3
Avg EPS beat(12)-9.23%
EPS beat(16)6
Avg EPS beat(16)130.13%
Revenue beat(2)0
Avg Revenue beat(2)-1.94%
Min Revenue beat(2)-3.31%
Max Revenue beat(2)-0.56%
Revenue beat(4)0
Avg Revenue beat(4)-4.31%
Min Revenue beat(4)-8.89%
Max Revenue beat(4)-0.56%
Revenue beat(8)1
Avg Revenue beat(8)-3.05%
Revenue beat(12)1
Avg Revenue beat(12)-3.28%
Revenue beat(16)1
Avg Revenue beat(16)-6.3%
PT rev (1m)6.59%
PT rev (3m)15.16%
EPS NQ rev (1m)-9.52%
EPS NQ rev (3m)41.79%
EPS NY rev (1m)-7.59%
EPS NY rev (3m)4.44%
Revenue NQ rev (1m)-5.45%
Revenue NQ rev (3m)7.88%
Revenue NY rev (1m)-0.5%
Revenue NY rev (3m)1.73%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.2 | ||
| Fwd PE | 14.58 | ||
| P/S | 1.96 | ||
| P/FCF | 11.17 | ||
| P/OCF | 6.45 | ||
| P/B | 3.28 | ||
| P/tB | N/A | ||
| EV/EBITDA | 6.59 |
EPS(TTM)2.33
EY3.55%
EPS(NY)4.51
Fwd EY6.86%
FCF(TTM)5.88
FCFY8.96%
OCF(TTM)10.2
OCFY15.52%
SpS33.49
BVpS20.01
TBVpS-22.46
PEG (NY)0.12
PEG (5Y)N/A
Graham Number32.39
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.03% | ||
| ROE | 32.78% | ||
| ROCE | 12.16% | ||
| ROIC | 9.61% | ||
| ROICexc | 11.12% | ||
| ROICexgc | 33.75% | ||
| OM | 26.62% | ||
| PM (TTM) | 19.59% | ||
| GM | 76.96% | ||
| FCFM | 17.57% |
ROA(3y)0.84%
ROA(5y)0.73%
ROE(3y)3.19%
ROE(5y)3.14%
ROIC(3y)6.73%
ROIC(5y)5.05%
ROICexc(3y)7.23%
ROICexc(5y)5.46%
ROICexgc(3y)21.48%
ROICexgc(5y)16.59%
ROCE(3y)8.52%
ROCE(5y)6.4%
ROICexgc growth 3Y24.05%
ROICexgc growth 5Y36.67%
ROICexc growth 3Y43.68%
ROICexc growth 5Y21.14%
OM growth 3Y33.38%
OM growth 5Y18.32%
PM growth 3Y-31.97%
PM growth 5Y4.87%
GM growth 3Y1.43%
GM growth 5Y0.99%
F-Score6
Asset Turnover0.36
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.33 | ||
| Debt/FCF | 8.59 | ||
| Debt/EBITDA | 2.89 | ||
| Cap/Depr | 59.7% | ||
| Cap/Sales | 12.87% | ||
| Interest Coverage | 2.62 | ||
| Cash Conversion | 63.19% | ||
| Profit Quality | 89.69% | ||
| Current Ratio | 0.92 | ||
| Quick Ratio | 0.89 | ||
| Altman-Z | 1.38 |
F-Score6
WACC7.34%
ROIC/WACC1.31
Cap/Depr(3y)66.21%
Cap/Depr(5y)68%
Cap/Sales(3y)15.35%
Cap/Sales(5y)17.27%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)153.26%
EPS 3Y-37.04%
EPS 5Y-0.4%
EPS Q2Q%93.33%
EPS Next Y226.04%
EPS Next 2Y75.07%
EPS Next 3Y45.35%
EPS Next 5Y29.7%
Revenue 1Y (TTM)-4.39%
Revenue growth 3Y10.85%
Revenue growth 5Y6.01%
Sales Q2Q%-0.77%
Revenue Next Year-2.37%
Revenue Next 2Y7.26%
Revenue Next 3Y4.53%
Revenue Next 5Y2.24%
EBIT growth 1Y29.59%
EBIT growth 3Y47.85%
EBIT growth 5Y25.43%
EBIT Next Year117.05%
EBIT Next 3Y35.33%
EBIT Next 5Y18.89%
FCF growth 1Y191.69%
FCF growth 3Y125.44%
FCF growth 5YN/A
OCF growth 1Y37.12%
OCF growth 3Y18.8%
OCF growth 5Y15.14%
MILLICOM INTL CELLULAR S.A. / TIGO FAQ
What is the ChartMill fundamental rating of MILLICOM INTL CELLULAR S.A. (TIGO) stock?
ChartMill assigns a fundamental rating of 5 / 10 to TIGO.
Can you provide the valuation status for MILLICOM INTL CELLULAR S.A.?
ChartMill assigns a valuation rating of 6 / 10 to MILLICOM INTL CELLULAR S.A. (TIGO). This can be considered as Fairly Valued.
Can you provide the profitability details for MILLICOM INTL CELLULAR S.A.?
MILLICOM INTL CELLULAR S.A. (TIGO) has a profitability rating of 8 / 10.
What is the valuation of MILLICOM INTL CELLULAR S.A. based on its PE and PB ratios?
The Price/Earnings (PE) ratio for MILLICOM INTL CELLULAR S.A. (TIGO) is 28.2 and the Price/Book (PB) ratio is 3.28.