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

EPS (Earnings per Share)

EPS (Earnings per Share) of TIGO over the last years for every Quarter: "2020-09": -0.5, "2020-12": -0.55, "2021-03": 0.41, "2021-06": -0.98, "2021-09": 0.05, "2021-12": 6.41, "2022-03": 0.23, "2022-06": 1.14, "2022-09": -0.18, "2022-12": 0.33, "2023-03": 0.02, "2023-06": -0.13, "2023-09": 0.36, "2023-12": -0.37, "2024-03": 0.53, "2024-06": 0.46, "2024-09": 0.3, "2024-12": 0.2016, "2025-03": 1.14, "2025-06": 4.03, "2025-09": 1.17,
EPS CAGR: 58.45%
EPS Trend: 68.4%
Last SUE: 0.40σ
Qual. Beats: 0

Revenue

Revenue of TIGO over the last years for every Quarter: 2020-09: 1026, 2020-12: 1088, 2021-03: 999, 2021-06: 1001, 2021-09: 1006, 2021-12: 1255, 2022-03: 1408, 2022-06: 1447, 2022-09: 1388, 2022-12: 1381, 2023-03: 1369, 2023-06: 1393, 2023-09: 1424, 2023-12: 1475, 2024-03: 1487, 2024-06: 1458, 2024-09: 1431, 2024-12: 1428, 2025-03: 1374, 2025-06: 1372, 2025-09: 1420,
Revenue CAGR: 1.02%
Revenue Trend: 5.9%
Last SUE: 0.55σ
Qual. Beats: 0
Risk via 10d forecast
Volatility 31.4%
Value at Risk 5%th 47.4%
Relative Tail Risk -8.15%
Reward TTM
Sharpe Ratio 2.64
Alpha 126.85
Character TTM
Hurst Exponent 0.410
Beta 0.208
Beta Downside 0.339
Drawdowns 3y
Max DD 28.97%
Mean DD 8.52%
Median DD 5.42%

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 8,700m
Sub-Industry Wireless Telecommunication Services
IPO / Inception 1994-02-28
Return 12m vs S&P 500 102%
Analyst Rating 4.30 of 5

TIGO Dividends

Metric Value
Dividend Yield 11.22%
Yield on Cost 5y 17.18%
Yield CAGR 5y %
Payout Consistency 0.8%
Payout Ratio 68.8%

TIGO Growth Ratios

Metric Value
CAGR 3y 66.31%
CAGR/Max DD Calmar Ratio 2.29
CAGR/Mean DD Pain Ratio 7.79
Current Volume 747k
Average Volume 790.4k

Piotroski VR‑10 (Strict, 0-10) 7.5

Net Income (1.09b TTM) > 0 and > 6% of Revenue (6% = 335.6m TTM)
FCFTA 0.07 (>2.0%) and ΔFCFTA 2.09pp (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 0.12 (>3.0%) and CFO 1.82b > Net Income 1.09b (YES >=105%, WARN >=100%)
Net Debt (6.73b) to EBITDA (3.17b) ratio: 2.12 <= 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 3.39 (EBITDA TTM 3.17b / Interest Expense TTM 641.0m) >= 6 (WARN >= 3)

Altman Z'' 1.67

(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
(C) 0.15 = EBIT TTM 2.17b / Avg Total Assets 14.83b
(D) 0.19 = Book Value of Equity 2.36b / Total Liabilities 12.28b
Total Rating: 1.67 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 80.07

1. Piotroski 7.50pt
2. FCF Yield 7.56%
3. FCF Margin 20.86%
4. Debt/Equity 2.53
5. Debt/Ebitda 2.12
6. ROIC - WACC (= 12.13)%
7. RoE 31.52%
8. Rev. Trend 5.86%
9. EPS Trend 68.35%

What is the price of TIGO shares?

As of November 25, 2025, the stock is trading at USD 53.47 with a total of 747,032 shares traded.
Over the past week, the price has changed by -0.11%, over one month by +12.85%, over three months by +16.64% and over the past year by +128.83%.

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 52.4 -2.1%
Analysts Target Price 52.4 -2.1%
ValueRay Target Price 59.6 11.5%

TIGO Fundamental Data Overview November 22, 2025

Market Cap USD = 8.70b (8.70b USD * 1.0 USD.USD)
P/E Trailing = 7.9862
P/E Forward = 13.5685
P/S = 1.5553
P/B = 2.674
P/EG = 0.4636
Beta = 0.934
Revenue TTM = 5.59b USD
EBIT TTM = 2.17b USD
EBITDA TTM = 3.17b USD
Long Term Debt = 5.82b USD (from longTermDebt, last quarter)
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 = 15.43b USD (8.70b + Debt 8.44b - CCE 1.71b)
Interest Coverage Ratio = 3.39 (Ebit TTM 2.17b / Interest Expense TTM 641.0m)
FCF Yield = 7.56% (FCF TTM 1.17b / Enterprise Value 15.43b)
FCF Margin = 20.86% (FCF TTM 1.17b / 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 = 0.99 (Enterprise Value 15.43b / Total Assets 15.59b)
Interest Expense / Debt = 2.05% (Interest Expense 173.0m / Debt 8.44b)
Taxrate = 29.41% (85.0m / 289.0m)
NOPAT = 1.53b (EBIT 2.17b * (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 = 2.12 (Net Debt 6.73b / EBITDA 3.17b)
Debt / FCF = 5.77 (Net Debt 6.73b / FCF TTM 1.17b)
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 = 23.37% (EBIT 2.17b / Capital Employed (Equity 3.47b + L.T.Debt 5.82b))
RoIC = 16.28% (NOPAT 1.53b / Invested Capital 9.41b)
WACC = 4.15% (E(8.70b)/V(17.14b) * Re(6.78%) + D(8.44b)/V(17.14b) * Rd(2.05%) * (1-Tc(0.29)))
Discount Rate = 6.78% (= 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≈1.00b ; Y1≈1.24b ; Y5≈2.11b
Fair Price DCF = 215.0 (DCF Value 35.92b / 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

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