Overview Dividends

(TIGO) Millicom International - Ratings and Ratios

Exchange: NASDAQ • Country: Luxembourg • Currency: USD • Type: Common Stock • ISIN: LU0038705702

Mobile, Broadband, Pay-TV, Money, Cloud

TIGO EPS (Earnings per Share)

EPS Growth (3Y CAGR): -19.50%
EPS Trend (3Y Correlation): 47.6%

TIGO Revenue

Revenue Growth (3Y CAGR): -0.42%
Revenue Trend (3Y Correlation): 14.4%

Description: TIGO Millicom International November 05, 2025

Millicom International Cellular S.A. (NASDAQ:TIGO) is a Luxembourg-based telecom operator that delivers both mobile and fixed-line services across Latin America under the Tigo and Tigo Business brands. Its portfolio spans mobile voice, data, and messaging, a suite of mobile financial products (including Tigo Money for peer-to-peer transfers, savings, micro-loans, and insurance), as well as pay-TV, broadband, cloud, security, and tower infrastructure services for consumers, enterprises, and governments.

Key operating metrics as of FY 2023 show roughly 44 million total subscribers, with mobile ARPU trending around $5.2 USD and an EBITDA margin near 15 %. The business benefits from two macro drivers: (1) robust growth in Latin American digital payments-mobile money transactions grew >20 % YoY in the region, bolstering Tigo Money’s revenue upside, and (2) continued rollout of 5G and fiber-to-the-home networks, which are expected to lift average revenue per user (ARPU) and create cross-sell opportunities for cloud and managed services. A downside risk is the exposure to currency volatility in markets such as Guatemala and Paraguay, which can erode profitability if local devaluations accelerate.

For a deeper dive into TIGO’s valuation sensitivities and peer comparisons, the ValueRay platform offers a granular, data-driven toolkit worth exploring.

TIGO Stock Overview

Market Cap in USD	7,689m
Sub-Industry	Wireless Telecommunication Services
IPO / Inception	1994-02-28

TIGO Stock Ratings

Growth Rating	79.3%
Fundamental	78.1%
Dividend Rating	35.7%
Return 12m vs S&P 500	79.5%
Analyst Rating	4.30 of 5

TIGO Dividends

Dividend Yield 12m	12.64%
Yield on Cost 5y	20.51%
Annual Growth 5y	%
Payout Consistency	0.8%
Payout Ratio	83.8%

TIGO Growth Ratios

Growth Correlation 3m	65.1%
Growth Correlation 12m	97.7%
Growth Correlation 5y	-1.1%
CAGR 5y	60.48%
CAGR/Max DD 3y (Calmar Ratio)	2.09
CAGR/Mean DD 3y (Pain Ratio)	7.09
Sharpe Ratio 12m	2.85
Alpha	80.98
Beta	0.934
Volatility	31.02%
Current Volume	568k
Average Volume 20d	586.1k
Stop Loss	46 (-3.1%)
Signal	-0.07

Piotroski VR‑10 (Strict, 0-10) 7.5

Net Income (951.0m TTM) > 0 and > 6% of Revenue (6% = 336.3m TTM)

FCFTA 0.06 (>2.0%) and ΔFCFTA 2.75pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -6.32% (prev -1.68%; Δ -4.64pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.12 (>3.0%) and CFO 1.73b > Net Income 951.0m (YES >=105%, WARN >=100%)

Net Debt (6.64b) to EBITDA (3.00b) ratio: 2.21 <= 3.0 (WARN <= 3.5)

Current Ratio 0.89 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (167.6m) change vs 12m ago -3.05% (target <= -2.0% for YES)

Gross Margin 60.55% (prev 51.95%; Δ 8.60pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 38.40% (prev 41.18%; Δ -2.78pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 3.31 (EBITDA TTM 3.00b / Interest Expense TTM 609.0m) >= 6 (WARN >= 3)

Altman Z'' 1.67

(A) -0.02 = (Total Current Assets 2.83b - Total Current Liabilities 3.19b) / Total Assets 15.00b

(B) 0.20 = Retained Earnings (Balance) 3.06b / Total Assets 15.00b

(D) 0.22 = Book Value of Equity 2.55b / Total Liabilities 11.50b

Total Rating: 1.67 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 78.11

1. Piotroski 7.50pt = 2.50

2. FCF Yield 6.54% = 3.27

3. FCF Margin 16.72% = 4.18

4. Debt/Equity 2.24 = 0.40

5. Debt/Ebitda 2.21 = -0.42

6. ROIC - WACC (= 12.83)% = 12.50

7. RoE 26.50% = 2.21

8. Rev. Trend 14.43% = 1.08

9. EPS Trend 47.61% = 2.38

What is the price of TIGO shares?

As of November 08, 2025, the stock is trading at USD 47.48 with a total of 567,999 shares traded.
Over the past week, the price has changed by +0.79%, over one month by +1.95%, over three months by +15.24% and over the past year by +104.66%.

Is Millicom International a good stock to buy?

Partly, yes. Based on ValueRay´s Fundamental Analyses, Millicom International (NASDAQ:TIGO) is currently (November 2025) ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 78.11 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of TIGO is around 47.76 USD . This means that TIGO is currently overvalued and has a potential downside of 0.59%.

Is TIGO a buy, sell or hold?

Millicom International has received a consensus analysts rating of 4.30. Therefore, it is recommended to buy TIGO.

Strong Buy: 5
Buy: 3
Hold: 2
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the TIGO price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	49.1	3.5%
Analysts Target Price	49.1	3.5%
ValueRay Target Price	51.9	9.2%

TIGO Fundamental Data Overview November 07, 2025

Market Cap USD = 7.69b (7.69b USD * 1.0 USD.USD)
P/E Trailing = 8.1613
P/E Forward = 13.587
P/S = 1.3718
P/B = 2.2531
P/EG = 0.5964
Beta = 0.934
Revenue TTM = 5.61b USD
EBIT TTM = 2.02b USD
EBITDA TTM = 3.00b USD
Long Term Debt = 5.56b USD (from longTermDebt, last quarter)
Short Term Debt = 556.0m USD (from shortTermDebt, last quarter)
Debt = 7.93b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 6.64b USD (from netDebt column, last quarter)
Enterprise Value = 14.33b USD (7.69b + Debt 7.93b - CCE 1.28b)
Interest Coverage Ratio = 3.31 (Ebit TTM 2.02b / Interest Expense TTM 609.0m)
FCF Yield = 6.54% (FCF TTM 937.0m / Enterprise Value 14.33b)
FCF Margin = 16.72% (FCF TTM 937.0m / Revenue TTM 5.61b)
Net Margin = 16.97% (Net Income TTM 951.0m / Revenue TTM 5.61b)
Gross Margin = 60.55% ((Revenue TTM 5.61b - Cost of Revenue TTM 2.21b) / Revenue TTM)
Gross Margin QoQ = 55.32% (prev 55.39%)
Tobins Q-Ratio = 0.96 (Enterprise Value 14.33b / Total Assets 15.00b)
Interest Expense / Debt = 2.14% (Interest Expense 170.0m / Debt 7.93b)
Taxrate = 13.05% (101.0m / 774.0m)
NOPAT = 1.75b (EBIT 2.02b * (1 - 13.05%))
Current Ratio = 0.89 (Total Current Assets 2.83b / Total Current Liabilities 3.19b)
Debt / Equity = 2.24 (Debt 7.93b / totalStockholderEquity, last quarter 3.54b)
Debt / EBITDA = 2.21 (Net Debt 6.64b / EBITDA 3.00b)
Debt / FCF = 7.09 (Net Debt 6.64b / FCF TTM 937.0m)
Total Stockholder Equity = 3.59b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.34% (Net Income 951.0m / Total Assets 15.00b)
RoE = 26.50% (Net Income TTM 951.0m / Total Stockholder Equity 3.59b)
RoCE = 22.04% (EBIT 2.02b / Capital Employed (Equity 3.59b + L.T.Debt 5.56b))
RoIC = 18.44% (NOPAT 1.75b / Invested Capital 9.51b)
WACC = 5.60% (E(7.69b)/V(15.62b) * Re(9.46%) + D(7.93b)/V(15.62b) * Rd(2.14%) * (1-Tc(0.13)))
Discount Rate = 9.46% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.21%
[DCF Debug] Terminal Value 76.98% ; FCFE base≈760.6m ; Y1≈938.3m ; Y5≈1.60b
Fair Price DCF = 126.3 (DCF Value 21.10b / Shares Outstanding 167.0m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 47.61 | EPS CAGR: -19.50% | SUE: -0.49 | # QB: 0
Revenue Correlation: 14.43 | Revenue CAGR: -0.42% | SUE: -1.14 | # QB: 0

Additional Sources for TIGO Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle