TIGO Stock Analysis: Millicom International | NASDAQ
Telecom Services | NASDAQ, USA | Market Cap: 14.812m USD | 12M Return: 77.6% | LU0038705702 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 70.2M
Qual. Beats: 0
Rev. Trend: 62.3%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 7.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Millicom International Cellular S.A. (TIGO) is a Luxembourg-headquartered telecommunications company founded in 1990 that provides cable and mobile services across Latin America. Its operations span mobile data and voice, short message services, and mobile financial services including payments, money transfers, international remittances, savings, micro-loans, and micro-insurance. On the fixed-line side, the company offers broadband, fixed voice, pay-TV, and value-added services such as cloud, security, and managed solutions, and it also operates tower infrastructure.
Millicom serves a diverse customer base of small, medium, and large businesses, residential consumers, and governmental entities, marketing its offerings under the Tigo and Tigo Business brands. The company trades on NASDAQ as a large-cap stock in the Communication Services sector and completed its IPO in 1994.
Its mobile money platform, branded Tigo Money, is one of the larger digital wallet services in Latin America, an asset that distinguishes emerging-market telecom operators from peers in developed regions. Latin America remains a structurally underpenetrated broadband and smartphone market, supporting long-term demand for both connectivity and over-the-top financial services.
- Mobile data and Tigo Money fintech revenue expand across Latin America
- Latin America FX volatility pressures reported margins and earnings
- Fixed broadband and pay-TV subscriber growth lifts blended ARPU
| Net Income: 665.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 0.05 > 1.0 |
| NWC/Revenue: -33.28% < 20% (prev -6.32%; Δ -26.96% < -1%) |
| CFO/TA 0.11 > 3% & CFO 2.33b > Net Income 665.0m |
| Net Debt (14.2b) to EBITDA (3.34b): 4.26 < 3 |
| Current Ratio: 0.53 > 1.5 & < 3 |
| Outstanding Shares: last quarter (168.0m) vs 12m ago 0.22% < -2% |
| Gross Margin: 62.91% > 18% (prev 65.85%; Δ -2.94% > 0.5%) |
| Asset Turnover: 40.56% > 50% (prev 37.37%; Δ 3.20% > 0%) |
| Interest Coverage Ratio: 1.84 > 6 (EBIT TTM 1.66b / Interest Expense TTM 907.0m) |
| A: -0.12 (Total Current Assets 2.75b - Total Current Liabilities 5.16b) / Total Assets 20.7b |
| B: 0.11 (Retained Earnings 2.27b / Total Assets 20.7b) |
| C: 0.09 (EBIT TTM 1.66b / Avg Total Assets 17.8b) |
| D: 0.14 (Book Value of Equity 2.53b / Total Liabilities 18.2b) |
| Altman-Z'' = 0.37 = B |
| DSRI: 0.82 (Receivables 692.0m/650.0m, Revenue 7.24b/5.61b) |
| GMI: 1.05 (GM 65.85% / 62.91%) |
| AQI: 1.23 (AQ_t 0.64 / AQ_t-1 0.52) |
| SGI: 1.29 (Revenue 7.24b / 5.61b) |
| TATA: -0.08 (NI 665.0m - CFO 2.33b) / TA 20.7b) |
| Beneish M = -2.79 (Cap -4..+1) = A |
As of October 12, 2026, the stock is trading at USD 79.48 with a total of 1,402,799 shares traded. Over the past week, the price has changed by -9.26%, over one month by -14.35%, over three months by -15.13% and over the past year by +77.58%.
Current recommended Stop Loss: 75.30 (which is 5.3% or 1.3 ATR below the current price).
Millicom International has received a consensus analysts rating of 3.13. Therefore, it is recommended to hold TIGO.
- StrongBuy: 1
- Buy: 0
- Hold: 6
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 98.4 | 23.8% |
P/E Trailing = 22.0249
P/E Forward = 10.01
P/S = 2.0436
P/B = 6.2746
P/EG = 0.322
Revenue TTM = 7.24b USD
EBIT TTM = 1.66b USD
EBITDA TTM = 3.34b USD
Long Term Debt = 7.65b USD (from longTermDebt, last quarter)
Short Term Debt = 1.45b USD (from shortTermDebt, last quarter)
Debt = 15.1b USD (from shortLongTermDebtTotal, last quarter) + Leases 3.16b
Net Debt = 14.2b USD (calculated: Debt 15.1b - CCE 861.0m)
Enterprise Value = 29.0b USD (14.8b + Debt 15.1b - CCE 861.0m)
Interest Coverage Ratio = 1.84 (Ebit TTM 1.66b / Interest Expense TTM 907.0m)
EV/FCF = 18.81x (Enterprise Value 29.0b / FCF TTM 1.54b)
FCF Yield = 5.32% (FCF TTM 1.54b / Enterprise Value 29.0b)
FCF Margin = 21.32% (FCF TTM 1.54b / Revenue TTM 7.24b)
Net Margin = 9.19% (Net Income TTM 665.0m / Revenue TTM 7.24b)
Gross Margin = 62.91% ((Revenue TTM 7.24b - Cost of Revenue TTM 2.68b) / Revenue TTM)
Gross Margin QoQ = 51.45% (prev 52.34%)
Tobins Q-Ratio = 1.40 (Enterprise Value 29.0b / Total Assets 20.7b)
Interest Expense / Debt = 6.02% (Interest Expense 907.0m / Debt 15.1b)
Taxrate = 32.67% (313.0m / 958.0m)
NOPAT = 1.12b (EBIT 1.66b * (1 - 32.67%))
Current Ratio = 0.53 (Total Current Assets 2.75b / Total Current Liabilities 5.16b)
Debt / Equity = 5.95 (Debt 15.1b / totalStockholderEquity, last quarter 2.53b)
Debt / EBITDA = 4.26 (Net Debt 14.2b / EBITDA 3.34b)
Debt / FCF = 9.20 (Net Debt 14.2b / FCF TTM 1.54b)
Total Stockholder Equity = 3.16b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.73% (Net Income 665.0m / Total Assets 20.7b)
RoE = 21.02% (Net Income TTM 665.0m / Total Stockholder Equity 3.16b)
RoCE = 15.40% (EBIT 1.66b / Capital Employed (Equity 3.16b + L.T.Debt 7.65b))
RoIC = 6.75% (NOPAT 1.12b / Invested Capital 16.6b)
WACC = 4.49% (E(14.8b)/V(29.9b) * Re(4.94%) + D(15.1b)/V(29.9b) * Rd(6.02%) * (1-Tc(0.33)))
Discount Rate = 4.94% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -88.75 | Cagr: -1.11%
[DCF] Terminal Value 77.97% ; FCFF base≈1.37b ; Y1≈1.57b ; Y5≈2.31b
[DCF] Fair Price = 122.8 (EV 34.8b - Net Debt 14.2b = Equity 20.6b / Shares 167.7m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.22 | # QB: 0
Revenue Correlation: 62.33 | Revenue CAGR: 5.32% | SUE: 0.94 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.83 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=4.54 | Chg30d=-3.73% | Revisions=+0% | GrowthEPS=+16.7% | GrowthRev=+50.6%
EPS next Year (2027-12-31): EPS=7.05 | Chg30d=-4.07% | Revisions=+0% | GrowthEPS=+55.1% | GrowthRev=+4.2%
[Analyst] Revisions Ratio: +0% (up=4, down=4)