Overview Dividends

(TIGO) Millicom International - Ratings and Ratios

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

Mobile, Cable, Broadband, Money, Tv

Wireless Telecommunication Services
Market Cap in USD: 9,263m
IPO / Inception: 1994-02-28
Return 12m vs S&P 500: 96.0%

EPS (Earnings per Share)

EPS (Earnings per Share) of TIGO over the last years for every Quarter: "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, "2025-12": 0,
EPS CAGR: -11.31%
EPS Trend: 37.3%
Last SUE: -0.62
Qual. Beats: 0

Revenue

Revenue of TIGO over the last years for every Quarter: 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, 2025-12: null,
Rev. CAGR: 3.35%
Rev. Trend: 35.3%
Last SUE: 0.55
Qual. Beats: 0

Dividends

Dividend Yield 9.65%
Yield on Cost 5y 15.00%
Yield CAGR 5y %
Payout Consistency 23.1%
Payout Ratio 65.0%
Risk via 5d forecast
Volatility 32.4%
Value at Risk 5%th 48.6%
Relative Tail Risk -8.90%
Reward TTM
Sharpe Ratio 2.55
Alpha 124.42
CAGR/Max DD 2.11
Character TTM
Hurst Exponent 0.444
Beta 0.198
Beta Downside 0.297
Drawdowns 3y
Max DD 28.97%
Mean DD 8.57%
Median DD 5.48%

Description: TIGO Millicom International January 08, 2026

Millicom International Cellular S.A. (NASDAQ:TIGO) operates a diversified telecom portfolio across Latin America under the Tigo and Tigo Business brands, delivering mobile voice, data, and financial services (e.g., Tigo Money), as well as fixed broadband, pay-TV, cloud, security, and tower infrastructure to consumers, enterprises, and governments.

Key recent metrics: as of Q3 2024 the company reported ~38 million mobile subscribers and a mobile-money transaction volume exceeding $4 billion annually, reflecting a ~12 % YoY growth driven by rising unbanked populations and digital payments adoption in the region. EBITDA margin has stabilized around 38 % after cost-efficiency initiatives, while average revenue per user (ARPU) remains modest at roughly $5.2 per month, consistent with price-sensitive Latin American markets.

Sector drivers influencing Millicom’s outlook include continued GDP growth of 2-3 % in its core markets, accelerating 4G/5G rollout, and regulatory trends favoring mobile-money ecosystems. Conversely, currency volatility and competitive pressure from larger incumbents pose upside risk to profitability.

For a deeper quantitative assessment, you may explore ValueRay’s detailed financial models for TIGO.

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 1.21pp (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) 80.59

1. Piotroski 7.50pt
2. FCF Yield 7.29%
3. FCF Margin 20.86%
4. Debt/Equity 2.53
5. Debt/Ebitda 2.12
6. ROIC - WACC (= 12.06)%
7. RoE 31.52%
8. Rev. Trend 35.26%
9. EPS Trend 37.34%

What is the price of TIGO shares?

As of January 09, 2026, the stock is trading at USD 51.83 with a total of 1,474,155 shares traded.
Over the past week, the price has changed by -6.98%, over one month by +4.33%, over three months by +10.41% and over the past year by +131.94%.

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 52.4 1%
Analysts Target Price 52.4 1%
ValueRay Target Price 60.6 16.9%

TIGO Fundamental Data Overview January 03, 2026

P/E Trailing = 8.49
P/E Forward = 14.0647
P/S = 1.6559
P/B = 2.7709
P/EG = 0.4804
Beta = 0.922
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 = 16.00b USD (9.26b + Debt 8.44b - CCE 1.71b)
Interest Coverage Ratio = 3.39 (Ebit TTM 2.17b / Interest Expense TTM 641.0m)
FCF Yield = 7.29% (FCF TTM 1.17b / Enterprise Value 16.00b)
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 = 1.03 (Enterprise Value 16.00b / 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 = 7.38% (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 = 4.22% (E(9.26b)/V(17.71b) * Re(6.74%) + D(8.44b)/V(17.71b) * Rd(2.05%) * (1-Tc(0.29)))
Discount Rate = 6.74% (= 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 88.44% ; FCFF base≈1.05b ; Y1≈1.30b ; Y5≈2.22b
Fair Price DCF = 344.5 (EV 64.30b - Net Debt 6.73b = Equity 57.57b / Shares 167.1m; r=6.0% [WACC]; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 37.34 | EPS CAGR: -11.31% | SUE: -0.62 | # QB: 0
Revenue Correlation: 35.26 | Revenue CAGR: 3.35% | SUE: 0.55 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.93 | Chg30d=+0.139 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=3.99 | Chg30d=+0.358 | Revisions Net=-1 | Growth EPS=+14.6% | Growth Revenue=+9.0%

Additional Sources for TIGO Stock

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