MILLICOM INTL CELLULAR S.A. (TIGO) Stock Fundamental Analysis

NASDAQ:TIGO • LU0038705702

64.95 USD
+0.38 (+0.59%)
Last: Feb 12, 2026, 10:41 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

TIGO gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 22 industry peers in the Wireless Telecommunication Services industry. While TIGO has a great profitability rating, there are quite some concerns on its financial health. TIGO has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • In the past year TIGO was profitable.
  • 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.
  • TIGO had a positive operating cash flow in each of the past 5 years.
TIGO Yearly Net Income VS EBIT VS OCF VS FCFTIGO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B

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.
  • With an excellent Return On Equity value of 32.78%, TIGO belongs to the best of the industry, outperforming 90.91% of the companies in the same industry.
  • TIGO's Return On Invested Capital of 9.61% is amongst the best of the industry. TIGO outperforms 81.82% of its industry peers.
  • TIGO had an Average Return On Invested Capital over the past 3 years of 6.73%. This 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 RankSector 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%
TIGO Yearly ROA, ROE, ROICTIGO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

1.3 Margins

  • TIGO's Profit Margin of 19.59% is amongst the best of the industry. TIGO outperforms 95.45% of its industry peers.
  • In the last couple of years the Profit Margin of TIGO has grown nicely.
  • TIGO has a better Operating Margin (26.62%) than 100.00% of its industry peers.
  • TIGO's Operating Margin has improved in the last couple of years.
  • TIGO has a better Gross Margin (76.96%) than 86.36% of its industry peers.
  • TIGO's Gross Margin has been stable in the last couple of years.
Industry RankSector 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%
TIGO Yearly Profit, Operating, Gross MarginsTIGO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

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.
  • TIGO has about the same amout of shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, TIGO has more shares outstanding
  • Compared to 1 year ago, TIGO has an improved debt to assets ratio.
TIGO Yearly Shares OutstandingTIGO Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
TIGO Yearly Total Debt VS Total AssetsTIGO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

  • Based on the Altman-Z score of 1.37, we must say that TIGO is in the distress zone and has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 1.37, TIGO is in line with its industry, 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.
  • TIGO has a Debt to FCF ratio (8.59) which is comparable to the rest of the industry.
  • TIGO has a Debt/Equity ratio of 2.33. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 2.33, TIGO is not doing good in the industry: 68.18% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 2.33
Debt/FCF 8.59
Altman-Z 1.37
ROIC/WACC1.31
WACC7.34%
TIGO Yearly LT Debt VS Equity VS FCFTIGO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B

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.
  • TIGO has a Current ratio (0.92) which is comparable to the rest of the industry.
  • A Quick Ratio of 0.89 indicates that TIGO may have some problems paying its short term obligations.
  • TIGO has a Quick ratio of 0.89. This is comparable to the rest of the industry: TIGO outperforms 54.55% of its industry peers.
Industry RankSector Rank
Current Ratio 0.92
Quick Ratio 0.89
TIGO Yearly Current Assets VS Current LiabilitesTIGO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 153.26% over the past year.
  • Measured over the past years, TIGO shows a decrease in Earnings Per Share. The EPS has been decreasing by -0.40% on average per year.
  • The Revenue has decreased by -4.39% in the past year.
  • 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.
  • Based on estimates for the next years, TIGO will show a small growth in Revenue. The Revenue will grow by 2.24% on average per year.
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.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
TIGO Yearly Revenue VS EstimatesTIGO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2B 4B 6B
TIGO Yearly EPS VS EstimatesTIGO Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 2 -2 4

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Find the best growth stocksShow best growing peers

6

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 27.88, TIGO can be considered very expensive at the moment.
  • Compared to the rest of the industry, the Price/Earnings ratio of TIGO is on the same level as its industry peers.
  • When comparing the Price/Earnings ratio of TIGO to the average of the S&P500 Index (28.18), we can say TIGO is valued inline with the index average.
  • A Price/Forward Earnings ratio of 14.41 indicates a correct valuation of TIGO.
  • Based on the Price/Forward Earnings ratio, TIGO is valued a bit cheaper than the industry average as 63.64% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of TIGO to the average of the S&P500 Index (28.01), we can say TIGO is valued slightly cheaper.
Industry RankSector Rank
PE 27.88
Fwd PE 14.41
TIGO Price Earnings VS Forward Price EarningsTIGO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, TIGO is valued a bit cheaper than the industry average as 68.18% of the companies are valued more expensively.
  • 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 RankSector Rank
P/FCF 11.04
EV/EBITDA 6.52
TIGO Per share dataTIGO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20 -20 30

4.3 Compensation for Growth

  • TIGO's 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.
  • TIGO's earnings are expected to grow with 45.35% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.12
PEG (5Y)N/A
EPS Next 2Y75.07%
EPS Next 3Y45.35%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

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 6.32.
  • Compared to an average S&P500 Dividend Yield of 1.80, TIGO pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.6%

5.2 History

  • TIGO has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
TIGO Yearly Dividends per shareTIGO Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2025 2026 2 4 6

5.3 Sustainability

DPN/A
EPS Next 2Y75.07%
EPS Next 3Y45.35%
TIGO Yearly Income VS Free CF VS DividendTIGO Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M 800M

More info and screens

Find the best dividend stocksShow peers with best dividend

MILLICOM INTL CELLULAR S.A.

NASDAQ:TIGO (2/12/2026, 10:41:04 AM)

64.95

+0.38 (+0.59%)

Chartmill FA Rating
GICS IndustryGroupTelecommunication Services
GICS IndustryWireless Telecommunication Services
Earnings (Last)11-06
Earnings (Next)02-26
Inst Owners44.69%
Inst Owner Change0.87%
Ins Owners0.17%
Ins Owner ChangeN/A
Market Cap10.85B
Revenue(TTM)5.59B
Net Income(TTM)1.10B
Analysts74.55
Price Target55.23 (-14.97%)
Short Float %2.44%
Short Ratio2.34
Dividend
Industry RankSector 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
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 RankSector Rank
PE 27.88
Fwd PE 14.41
P/S 1.94
P/FCF 11.04
P/OCF 6.37
P/B 3.25
P/tB N/A
EV/EBITDA 6.52
EPS(TTM)2.33
EY3.59%
EPS(NY)4.51
Fwd EY6.94%
FCF(TTM)5.88
FCFY9.06%
OCF(TTM)10.2
OCFY15.7%
SpS33.49
BVpS20.01
TBVpS-22.46
PEG (NY)0.12
PEG (5Y)N/A
Graham Number32.39
Profitability
Industry RankSector 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 RankSector 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 1.37
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 27.88 and the Price/Book (PB) ratio is 3.25.