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, 8:00:00 PM
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. TIGO has an excellent profitability rating, but there are concerns on its financial health. TIGO has a correct valuation and a medium growth rate.


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

  • With an excellent Return On Assets value of 7.03%, TIGO belongs to the best of the industry, outperforming 81.82% of the companies in the same industry.
  • TIGO's Return On Equity of 32.78% is amongst the best of the industry. TIGO outperforms 90.91% of its industry peers.
  • The Return On Invested Capital of TIGO (9.61%) is better than 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 last Return On Invested Capital (9.61%) for TIGO is above the 3 year average (6.73%), which is a sign of increasing profitability.
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.
  • In the last couple of years the Operating Margin of TIGO has grown nicely.
  • With an excellent Gross Margin value of 76.96%, TIGO belongs to the best of the industry, outperforming 86.36% of the companies in the same industry.
  • In the last couple of years the Gross Margin of TIGO has remained more or less at the same level.
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

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so TIGO is still 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 1.38, we must say that TIGO is in the distress zone and has some risk of bankruptcy.
  • TIGO has a Altman-Z score of 1.38. This is comparable to the rest of the industry: TIGO outperforms 59.09% of its industry peers.
  • The Debt to FCF ratio of TIGO is 8.59, which is on the high side as it means it would take TIGO, 8.59 years of fcf income to pay off 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.
  • Looking at the Debt to Equity ratio, with a value of 2.33, TIGO is doing worse than 68.18% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 2.33
Debt/FCF 8.59
Altman-Z 1.38
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 in line with its industry peers.
  • TIGO has a Quick 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 Quick ratio (0.89) which is comparable to the rest of the industry.
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

  • TIGO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 153.26%, which is quite impressive.
  • TIGO shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.40% yearly.
  • The Revenue has decreased by -4.39% in the past year.
  • TIGO shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.01% yearly.
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

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • 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

  • TIGO is valuated quite expensively with a Price/Earnings ratio of 28.20.
  • TIGO's Price/Earnings is on the same level as the industry average.
  • When comparing the Price/Earnings ratio of TIGO to the average of the S&P500 Index (27.97), we can say TIGO is valued inline with the index average.
  • Based on the Price/Forward Earnings ratio of 14.58, the valuation of TIGO can be described as correct.
  • The rest of the industry has a similar Price/Forward Earnings ratio as TIGO.
  • TIGO's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.96.
Industry RankSector Rank
PE 28.2
Fwd PE 14.58
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

  • 68.18% of the companies in the same industry are more expensive than TIGO, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of TIGO indicates a somewhat cheap valuation: TIGO is cheaper than 63.64% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 11.17
EV/EBITDA 6.59
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 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

  • With a Yearly Dividend Yield of 4.60%, TIGO is a good candidate for dividend investing.
  • 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 RankSector 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
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

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MILLICOM INTL CELLULAR S.A.

NASDAQ:TIGO (2/13/2026, 8:00:00 PM)

After market: 65.71 0 (0%)

65.71

-0.02 (-0.03%)

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 Cap10.98B
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 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 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 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 1.38
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.