MILLICOM INTL CELLULAR S.A. (TIGO) Fundamental Analysis & Valuation

NASDAQ:TIGO • LU0038705702

Current stock price

79.9 USD
+2.05 (+2.63%)
Last:

This TIGO fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. TIGO Profitability Analysis

1.1 Basic Checks

  • TIGO had positive earnings in the past year.
  • In the past year TIGO had a positive cash flow from operations.
  • Of the past 5 years TIGO 4 years were profitable.
  • 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 2025 0 500M 1B 1.5B

1.2 Ratios

  • TIGO's Return On Assets of 7.63% is amongst the best of the industry. TIGO outperforms 86.36% of its industry peers.
  • With an excellent Return On Equity value of 36.14%, TIGO belongs to the best of the industry, outperforming 90.91% of the companies in the same industry.
  • The Return On Invested Capital of TIGO (7.26%) is comparable to the rest of the industry.
  • TIGO had an Average Return On Invested Capital over the past 3 years of 6.34%. This is in line with the industry average of 7.50%.
  • The last Return On Invested Capital (7.26%) for TIGO is above the 3 year average (6.34%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 7.63%
ROE 36.14%
ROIC 7.26%
ROA(3y)2.97%
ROA(5y)2.81%
ROE(3y)13.6%
ROE(5y)13.71%
ROIC(3y)6.34%
ROIC(5y)5.27%
TIGO Yearly ROA, ROE, ROICTIGO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20 30

1.3 Margins

  • The Profit Margin of TIGO (22.62%) is better than 95.45% of its industry peers.
  • TIGO's Profit Margin has improved in the last couple of years.
  • The Operating Margin of TIGO (26.41%) is better than 95.45% of its industry peers.
  • In the last couple of years the Operating Margin of TIGO has grown nicely.
  • TIGO has a Gross Margin of 77.47%. This is amongst the best in the industry. TIGO outperforms 81.82% of its industry peers.
  • In the last couple of years the Gross Margin of TIGO has grown nicely.
Industry RankSector Rank
OM 26.41%
PM (TTM) 22.62%
GM 77.47%
OM growth 3Y17.9%
OM growth 5Y33.95%
PM growth 3Y92.97%
PM growth 5YN/A
GM growth 3Y2.43%
GM growth 5Y1.75%
TIGO Yearly Profit, Operating, Gross MarginsTIGO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. TIGO Health Analysis

2.1 Basic Checks

  • TIGO has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • Compared to 1 year ago, TIGO has less shares outstanding
  • TIGO has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, TIGO has a worse debt to assets ratio.
TIGO Yearly Shares OutstandingTIGO Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 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.
  • With a decent Altman-Z score value of 1.37, TIGO is doing good in the industry, outperforming 63.64% of the companies in the same industry.
  • TIGO has a debt to FCF ratio of 9.44. This is a negative value and a sign of low solvency as TIGO would need 9.44 years to pay back of all of its debts.
  • With a Debt to FCF ratio value of 9.44, TIGO perfoms like the industry average, outperforming 40.91% of the companies in the same industry.
  • TIGO has a Debt/Equity ratio of 2.43. This is a high value indicating a heavy dependency on external financing.
  • TIGO has a worse Debt to Equity ratio (2.43) than 72.73% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.43
Debt/FCF 9.44
Altman-Z 1.37
ROIC/WACC1.12
WACC6.47%
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 2025 0 2B 4B 6B 8B

2.3 Liquidity

  • A Current Ratio of 0.88 indicates that TIGO may have some problems paying its short term obligations.
  • TIGO has a Current ratio (0.88) which is comparable to the rest of the industry.
  • A Quick Ratio of 0.85 indicates that TIGO may have some problems paying its short term obligations.
  • The Quick ratio of TIGO (0.85) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 0.88
Quick Ratio 0.85
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 2025 1B 2B 3B 4B

More info and screens

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

6

3. TIGO Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 148.98% over the past year.
  • The Earnings Per Share has been growing by 34.03% on average over the past years. This is a very strong growth
  • Looking at the last year, TIGO shows a small growth in Revenue. The Revenue has grown by 0.26% in the last year.
  • Measured over the past years, TIGO shows a small growth in Revenue. The Revenue has been growing by 6.89% on average per year.
EPS 1Y (TTM)148.98%
EPS 3Y34.03%
EPS 5YN/A
EPS Q2Q%738.89%
Revenue 1Y (TTM)0.26%
Revenue growth 3Y1.14%
Revenue growth 5Y6.89%
Sales Q2Q%15.69%

3.2 Future

  • The Earnings Per Share is expected to grow by 19.62% on average over the next years. This is quite good.
  • TIGO is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.95% yearly.
EPS Next Y20.11%
EPS Next 2Y23.73%
EPS Next 3Y20.44%
EPS Next 5Y19.62%
Revenue Next Year41.78%
Revenue Next 2Y21.45%
Revenue Next 3Y14.62%
Revenue Next 5Y8.95%

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better 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 2030 2B 4B 6B 8B
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 2030 0 2 -2 4 6 8

More info and screens

Find the best growth stocksShow best growing peers

4

4. TIGO Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 21.83 indicates a rather expensive valuation of TIGO.
  • TIGO's Price/Earnings ratio is in line with the industry average.
  • TIGO is valuated rather cheaply when we compare the Price/Earnings ratio to 27.38, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 18.18 indicates a rather expensive valuation of TIGO.
  • TIGO's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. TIGO is more expensive than 72.73% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 38.20, TIGO is valued rather cheaply.
Industry RankSector Rank
PE 21.83
Fwd PE 18.18
TIGO Price Earnings VS Forward Price EarningsTIGO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • TIGO's Enterprise Value to EBITDA is on the same level as the industry average.
  • TIGO's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 13.35
EV/EBITDA 7.44
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

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The excellent profitability rating of TIGO may justify a higher PE ratio.
  • TIGO's earnings are expected to grow with 20.44% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.09
PEG (5Y)N/A
EPS Next 2Y23.73%
EPS Next 3Y20.44%

More info and screens

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

6

5. TIGO Dividend Analysis

5.1 Amount

  • TIGO has a Yearly Dividend Yield of 3.62%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 6.14, TIGO pays a bit more dividend than its industry peers.
  • TIGO's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 3.62%

5.2 History

  • The dividend of TIGO is nicely growing with an annual growth rate of 10.89%!
  • TIGO has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)10.89%
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

  • TIGO pays out 57.29% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • TIGO's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP57.29%
EPS Next 2Y23.73%
EPS Next 3Y20.44%
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 2025 0 500M 1B
TIGO Dividend Payout.TIGO Dividend Payout, showing the Payout Ratio.TIGO Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

TIGO Fundamentals: All Metrics, Ratios and Statistics

MILLICOM INTL CELLULAR S.A.

NASDAQ:TIGO (4/16/2026, 12:01:04 PM)

79.9

+2.05 (+2.63%)

Chartmill FA Rating
GICS IndustryGroupTelecommunication Services
GICS IndustryWireless Telecommunication Services
Earnings (Last)02-26
Earnings (Next)05-07
Inst Owners45.66%
Inst Owner Change-0.16%
Ins Owners0.18%
Ins Owner Change0%
Market Cap13.39B
Revenue(TTM)5.82B
Net Income(TTM)1.32B
Analysts72.86
Price Target71.53 (-10.48%)
Short Float %2.69%
Short Ratio1.76
Dividend
Industry RankSector Rank
Dividend Yield 3.62%
Yearly Dividend4.42
Dividend Growth(5Y)10.89%
DP57.29%
Div Incr Years0
Div Non Decr Years0
Ex-Date07-08
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)24.52%
Min EPS beat(2)-6.78%
Max EPS beat(2)55.83%
EPS beat(4)2
Avg EPS beat(4)9.74%
Min EPS beat(4)-37.08%
Max EPS beat(4)55.83%
EPS beat(8)3
Avg EPS beat(8)62%
EPS beat(12)3
Avg EPS beat(12)-6.23%
EPS beat(16)6
Avg EPS beat(16)19.02%
Revenue beat(2)1
Avg Revenue beat(2)1.41%
Min Revenue beat(2)-0.56%
Max Revenue beat(2)3.38%
Revenue beat(4)1
Avg Revenue beat(4)-2.34%
Min Revenue beat(4)-8.89%
Max Revenue beat(4)3.38%
Revenue beat(8)2
Avg Revenue beat(8)-2.62%
Revenue beat(12)2
Avg Revenue beat(12)-2.69%
Revenue beat(16)2
Avg Revenue beat(16)-4.36%
PT rev (1m)20.24%
PT rev (3m)38.04%
EPS NQ rev (1m)-10.88%
EPS NQ rev (3m)14.52%
EPS NY rev (1m)-8.93%
EPS NY rev (3m)-7.81%
Revenue NQ rev (1m)0.89%
Revenue NQ rev (3m)44.29%
Revenue NY rev (1m)15.1%
Revenue NY rev (3m)22.49%
Valuation
Industry RankSector Rank
PE 21.83
Fwd PE 18.18
P/S 2.3
P/FCF 13.35
P/OCF 7.76
P/B 3.68
P/tB N/A
EV/EBITDA 7.44
EPS(TTM)3.66
EY4.58%
EPS(NY)4.4
Fwd EY5.5%
FCF(TTM)5.99
FCFY7.49%
OCF(TTM)10.3
OCFY12.89%
SpS34.73
BVpS21.73
TBVpS-24.81
PEG (NY)1.09
PEG (5Y)N/A
Graham Number42.3041 (-47.05%)
Profitability
Industry RankSector Rank
ROA 7.63%
ROE 36.14%
ROCE 11.09%
ROIC 7.26%
ROICexc 8.17%
ROICexgc 22.3%
OM 26.41%
PM (TTM) 22.62%
GM 77.47%
FCFM 17.24%
ROA(3y)2.97%
ROA(5y)2.81%
ROE(3y)13.6%
ROE(5y)13.71%
ROIC(3y)6.34%
ROIC(5y)5.27%
ROICexc(3y)6.9%
ROICexc(5y)5.75%
ROICexgc(3y)19.81%
ROICexgc(5y)17.5%
ROCE(3y)9.69%
ROCE(5y)8.06%
ROICexgc growth 3Y11.41%
ROICexgc growth 5Y48.29%
ROICexc growth 3Y15%
ROICexc growth 5Y33.82%
OM growth 3Y17.9%
OM growth 5Y33.95%
PM growth 3Y92.97%
PM growth 5YN/A
GM growth 3Y2.43%
GM growth 5Y1.75%
F-Score7
Asset Turnover0.34
Health
Industry RankSector Rank
Debt/Equity 2.43
Debt/FCF 9.44
Debt/EBITDA 3.14
Cap/Depr 56.48%
Cap/Sales 12.42%
Interest Coverage 2.63
Cash Conversion 61.27%
Profit Quality 76.22%
Current Ratio 0.88
Quick Ratio 0.85
Altman-Z 1.37
F-Score7
WACC6.47%
ROIC/WACC1.12
Cap/Depr(3y)63.22%
Cap/Depr(5y)65.66%
Cap/Sales(3y)14.2%
Cap/Sales(5y)15.8%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)148.98%
EPS 3Y34.03%
EPS 5YN/A
EPS Q2Q%738.89%
EPS Next Y20.11%
EPS Next 2Y23.73%
EPS Next 3Y20.44%
EPS Next 5Y19.62%
Revenue 1Y (TTM)0.26%
Revenue growth 3Y1.14%
Revenue growth 5Y6.89%
Sales Q2Q%15.69%
Revenue Next Year41.78%
Revenue Next 2Y21.45%
Revenue Next 3Y14.62%
Revenue Next 5Y8.95%
EBIT growth 1Y19.24%
EBIT growth 3Y19.25%
EBIT growth 5Y43.17%
EBIT Next Year130.47%
EBIT Next 3Y37.89%
EBIT Next 5Y21%
FCF growth 1Y8.08%
FCF growth 3Y39.81%
FCF growth 5YN/A
OCF growth 1Y7.67%
OCF growth 3Y11.06%
OCF growth 5Y16.02%

MILLICOM INTL CELLULAR S.A. / TIGO Fundamental Analysis 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.


What is the valuation status of MILLICOM INTL CELLULAR S.A. (TIGO) stock?

ChartMill assigns a valuation rating of 4 / 10 to MILLICOM INTL CELLULAR S.A. (TIGO). This can be considered as Fairly Valued.


What is the profitability of TIGO stock?

MILLICOM INTL CELLULAR S.A. (TIGO) has a profitability rating of 8 / 10.


Can you provide the financial health for TIGO stock?

The financial health rating of MILLICOM INTL CELLULAR S.A. (TIGO) is 2 / 10.


Can you provide the dividend sustainability for TIGO stock?

The dividend rating of MILLICOM INTL CELLULAR S.A. (TIGO) is 6 / 10 and the dividend payout ratio is 57.29%.