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): 58.45%
EPS Trend (3Y Correlation): 68.4%

TIGO Revenue

Revenue Growth (3Y CAGR): 1.02%
Revenue Trend (3Y Correlation): 5.9%

Risk via 10d forecast
Volatility	33.5%
Value at Risk 5%th	45.4%
Relative Tail Risk	-7.41%

Reward TTM
Sharpe Ratio	2.57
Alpha	111.11

Character TTM
Hurst Exponent	0.338
Beta	0.218
Beta Downside	0.334

Drawdowns 3y
Max DD	28.97%
Mean DD	8.53%
Median DD	5.46%

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	7,933m
Sub-Industry	Wireless Telecommunication Services
IPO / Inception	1994-02-28
Return 12m vs S&P 500	87.6%
Analyst Rating	4.30 of 5

TIGO Dividends

Dividend Yield	11.92%
Yield on Cost 5y	18.54%
Yield CAGR 5y	%
Payout Consistency	0.8%
Payout Ratio	68.8%

TIGO Growth Ratios

CAGR 3y	62.76%
CAGR/Max DD Calmar Ratio	2.17
CAGR/Mean DD Pain Ratio	7.36
Current Volume	629.1k
Average Volume	666.8k

Piotroski VR‑10 (Strict, 0-10) 7.5

Net Income (1.09b TTM) > 0 and > 6% of Revenue (6% = 335.6m TTM)

FCFTA 0.06 (>2.0%) and ΔFCFTA 1.73pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -4.52% (prev -1.52%; Δ -3.00pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.11 (>3.0%) and CFO 1.76b > Net Income 1.09b (YES >=105%, WARN >=100%)

Net Debt (6.73b) to EBITDA (3.11b) ratio: 2.17 <= 3.0 (WARN <= 3.5)

Current Ratio 0.92 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (168.1m) change vs 12m ago -2.64% (target <= -2.0% for YES)

Gross Margin 71.65% (prev 53.02%; Δ 18.63pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 37.72% (prev 41.59%; Δ -3.87pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 3.34 (EBITDA TTM 3.11b / Interest Expense TTM 630.0m) >= 6 (WARN >= 3)

Altman Z'' 1.64

(A) -0.02 = (Total Current Assets 3.10b - Total Current Liabilities 3.35b) / Total Assets 15.59b

(B) 0.18 = Retained Earnings (Balance) 2.83b / Total Assets 15.59b

(D) 0.19 = Book Value of Equity 2.36b / Total Liabilities 12.28b

Total Rating: 1.64 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 78.80

1. Piotroski 7.50pt = 2.50

2. FCF Yield 6.76% = 3.38

3. FCF Margin 17.73% = 4.43

4. Debt/Equity 2.53 = -0.04

5. Debt/Ebitda 2.17 = -0.32

6. ROIC - WACC (= 11.90)% = 12.50

7. RoE 31.52% = 2.50

8. Rev. Trend 5.86% = 0.44

9. EPS Trend 68.35% = 3.42

What is the price of TIGO shares?

As of November 15, 2025, the stock is trading at USD 50.33 with a total of 629,117 shares traded.
Over the past week, the price has changed by +6.00%, over one month by +9.13%, over three months by +19.06% and over the past year by +115.07%.

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 78.80 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 51.81 USD . This means that TIGO is currently overvalued and has a potential downside of 2.94%.

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	50.1	-0.5%
Analysts Target Price	50.1	-0.5%
ValueRay Target Price	55.4	10.2%

TIGO Fundamental Data Overview November 09, 2025

Market Cap USD = 7.93b (7.93b USD * 1.0 USD.USD)
P/E Trailing = 8.4035
P/E Forward = 13.587
P/S = 1.4182
P/B = 2.2531
P/EG = 0.5964
Beta = 0.934
Revenue TTM = 5.59b USD
EBIT TTM = 2.11b USD
EBITDA TTM = 3.11b USD
Long Term Debt = 5.53b USD (from longTermDebt, last fiscal year)
Short Term Debt = 656.0m USD (from shortTermDebt, last quarter)
Debt = 8.44b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 6.73b USD (from netDebt column, last quarter)
Enterprise Value = 14.67b USD (7.93b + Debt 8.44b - CCE 1.71b)
Interest Coverage Ratio = 3.34 (Ebit TTM 2.11b / Interest Expense TTM 630.0m)
FCF Yield = 6.76% (FCF TTM 991.6m / Enterprise Value 14.67b)
FCF Margin = 17.73% (FCF TTM 991.6m / Revenue TTM 5.59b)
Net Margin = 19.57% (Net Income TTM 1.09b / Revenue TTM 5.59b)
Gross Margin = 71.65% ((Revenue TTM 5.59b - Cost of Revenue TTM 1.59b) / Revenue TTM)
Gross Margin QoQ = 77.96% (prev 76.97%)
Tobins Q-Ratio = 0.94 (Enterprise Value 14.67b / Total Assets 15.59b)
Interest Expense / Debt = 1.92% (Interest Expense 162.0m / Debt 8.44b)
Taxrate = 29.41% (85.0m / 289.0m)
NOPAT = 1.49b (EBIT 2.11b * (1 - 29.41%))
Current Ratio = 0.92 (Total Current Assets 3.10b / Total Current Liabilities 3.35b)
Debt / Equity = 2.53 (Debt 8.44b / totalStockholderEquity, last quarter 3.34b)
Debt / EBITDA = 2.17 (Net Debt 6.73b / EBITDA 3.11b)
Debt / FCF = 6.79 (Net Debt 6.73b / FCF TTM 991.6m)
Total Stockholder Equity = 3.47b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.02% (Net Income 1.09b / Total Assets 15.59b)
RoE = 31.52% (Net Income TTM 1.09b / Total Stockholder Equity 3.47b)
RoCE = 23.39% (EBIT 2.11b / Capital Employed (Equity 3.47b + L.T.Debt 5.53b))
RoIC = 15.91% (NOPAT 1.49b / Invested Capital 9.35b)
WACC = 4.01% (E(7.93b)/V(16.38b) * Re(6.84%) + D(8.44b)/V(16.38b) * Rd(1.92%) * (1-Tc(0.29)))
Discount Rate = 6.84% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -33.33 | Cagr: -1.07%
[DCF Debug] Terminal Value 81.43% ; FCFE base≈855.7m ; Y1≈1.06b ; Y5≈1.80b
Fair Price DCF = 183.3 (DCF Value 30.63b / Shares Outstanding 167.1m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 68.35 | EPS CAGR: 58.45% | SUE: 0.40 | # QB: 0
Revenue Correlation: 5.86 | Revenue CAGR: 1.02% | SUE: 0.55 | # QB: 0

Additional Sources for TIGO Stock

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