(TIGO) Millicom International - NASDAQ
Sector: Communication Services | Industry: Telecom Services | Exchange: NASDAQ (USA) | Market Cap: 13.849m USD | Total Return: 179.8% in 12m
Avg Turnover: 133M
Qual. Beats: -1
Rev. Trend: 54.5%
Qual. Beats: 0
Warnings
Altman Z'' 0.83 < 1.0 - financial distress zone
Extended 1w
Tailwinds
Rs Leader, Idiosyncratic Leader, Tailwind
Millicom International Cellular S.A. (TIGO) is a telecommunications provider focused exclusively on the Latin American market. Operating primarily under the Tigo brand, the company delivers integrated digital services including mobile voice and data, fixed-line broadband, and pay-TV to residential, corporate, and government clients.
The business model leverages a converged network strategy, combining mobile infrastructure with high-speed fiber-cable assets to drive multi-service subscriptions. In many emerging markets where Millicom operates, traditional banking penetration is low, allowing the company to integrate mobile financial services like digital payments and micro-insurance directly into its telecommunications platform.
To evaluate how these regional dynamics impact long-term valuation, consider reviewing the detailed metrics available on ValueRay.
Headquartered in Luxembourg and founded in 1990, Millicom also manages a portfolio of tower infrastructure and B2B solutions, including cloud and security services. The company competes in the Wireless Telecommunication Services sub-industry, where capital expenditure is typically high due to the ongoing transition to advanced data networks.
- B2B and fiber-to-the-home expansion stabilizes high-margin recurring service revenue
- Operational efficiency program targets significant free cash flow and margin growth
- Latin American currency volatility impacts US dollar denominated earnings and debt
- Potential consolidation or acquisition activity drives significant share price premium volatility
- Mobile financial services adoption increases customer retention and ecosystem monetization levels
| Net Income: 1.23b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA -1.36 > 1.0 |
| NWC/Revenue: -30.42% < 20% (prev -12.26%; Δ -18.16% < -1%) |
| CFO/TA 0.10 > 3% & CFO 2.10b > Net Income 1.23b |
| Net Debt (13.6b) to EBITDA (3.52b): 3.86 < 3 |
| Current Ratio: 0.61 > 1.5 & < 3 |
| Outstanding Shares: last quarter (167.5m) vs 12m ago -1.44% < -2% |
| Gross Margin: 69.79% > 18% (prev 60.36%; Δ 9.43% > 0.5%) |
| Asset Turnover: 37.37% > 50% (prev 41.66%; Δ -4.29% > 0%) |
| Interest Coverage Ratio: 2.72 > 6 (EBIT TTM 2.07b / Interest Expense TTM 762.0m) |
| A: -0.09 (Total Current Assets 3.07b - Total Current Liabilities 5.03b) / Total Assets 20.7b |
| B: 0.14 (Retained Earnings 2.89b / Total Assets 20.7b) |
| C: 0.12 (EBIT TTM 2.07b / Avg Total Assets 17.2b) |
| D: 0.18 (Book Value of Equity 3.14b / Total Liabilities 17.6b) |
| Altman-Z'' = 0.83 = B |
| DSRI: 2.65 (Receivables 1.31b/437.0m, Revenue 6.43b/5.69b) |
| GMI: 0.86 (GM 60.36% / 69.79%) |
| AQI: 0.88 (AQ_t 0.49 / AQ_t-1 0.56) |
| SGI: 1.13 (Revenue 6.43b / 5.69b) |
| TATA: -0.04 (NI 1.23b - CFO 2.10b) / TA 20.7b) |
| Beneish M = -1.77 (Cap -4..+1) = CCC |
As of June 14, 2026, the stock is trading at USD 93.77 with a total of 1,268,201 shares traded.
Over the past week, the price has changed by +13.44%,
over one month by +17.02%,
over three months by +35.50% and
over the past year by +179.82%.
Millicom International has received a consensus analysts rating of 4.30. Therefore, it is recommended to buy TIGO.
- StrongBuy: 5
- Buy: 3
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 83.2 | -11.3% |
P/E Trailing = 11.231
P/E Forward = 17.094
P/S = 2.1518
P/B = 4.4169
P/EG = 0.6524
Revenue TTM = 6.43b USD
EBIT TTM = 2.07b USD
EBITDA TTM = 3.52b USD
Long Term Debt = 7.39b USD (from longTermDebt, last quarter)
Short Term Debt = 1.56b USD (from shortTermDebt, last quarter)
Debt = 14.8b USD (from shortLongTermDebtTotal, last quarter) + Leases 3.10b
Net Debt = 13.6b USD (calculated: Debt 14.8b - CCE 1.22b)
Enterprise Value = 27.5b USD (13.8b + Debt 14.8b - CCE 1.22b)
Interest Coverage Ratio = 2.72 (Ebit TTM 2.07b / Interest Expense TTM 762.0m)
EV/FCF = 19.77x (Enterprise Value 27.5b / FCF TTM 1.39b)
FCF Yield = 5.06% (FCF TTM 1.39b / Enterprise Value 27.5b)
FCF Margin = 21.60% (FCF TTM 1.39b / Revenue TTM 6.43b)
Net Margin = 19.16% (Net Income TTM 1.23b / Revenue TTM 6.43b)
Gross Margin = 69.79% ((Revenue TTM 6.43b - Cost of Revenue TTM 1.94b) / Revenue TTM)
Gross Margin QoQ = 52.34% (prev 77.78%)
Tobins Q-Ratio = 1.32 (Enterprise Value 27.5b / Total Assets 20.7b)
Interest Expense / Debt = 5.14% (Interest Expense 762.0m / Debt 14.8b)
Taxrate = 20.29% (310.0m / 1.53b)
NOPAT = 1.65b (EBIT 2.07b * (1 - 20.29%))
Current Ratio = 0.61 (Total Current Assets 3.07b / Total Current Liabilities 5.03b)
Debt / Equity = 4.72 (Debt 14.8b / totalStockholderEquity, last quarter 3.14b)
Debt / EBITDA = 3.86 (Net Debt 13.6b / EBITDA 3.52b)
Debt / FCF = 9.80 (Net Debt 13.6b / FCF TTM 1.39b)
Total Stockholder Equity = 3.41b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.16% (Net Income 1.23b / Total Assets 20.7b)
RoE = 36.08% (Net Income TTM 1.23b / Total Stockholder Equity 3.41b)
RoCE = 19.16% (EBIT 2.07b / Capital Employed (Equity 3.41b + L.T.Debt 7.39b))
RoIC = 9.74% (NOPAT 1.65b / Invested Capital 17.0b)
WACC = 4.60% (E(13.8b)/V(28.7b) * Re(5.13%) + D(14.8b)/V(28.7b) * Rd(5.14%) * (1-Tc(0.20)))
Discount Rate = 5.13% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -55.56 | Cagr: -1.11%
[DCF] Terminal Value 77.97% ; FCFF base≈1.27b ; Y1≈1.46b ; Y5≈2.15b
[DCF] Fair Price = 111.8 (EV 32.3b - Net Debt 13.6b = Equity 18.7b / Shares 167.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -2.18 | # QB: -1
Revenue Correlation: 54.54 | Revenue CAGR: 2.45% | SUE: 0.38 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.62 | Chg30d=-12.54% | Revisions=-20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.80 | Chg30d=-6.97% | Revisions=-20% | Analysts=2
EPS current Year (2026-12-31): EPS=5.22 | Chg30d=+22.69% | Revisions=-14% | GrowthEPS=+34.1% | GrowthRev=+44.1%
EPS next Year (2027-12-31): EPS=6.54 | Chg30d=+31.05% | Revisions=+0% | GrowthEPS=+25.2% | GrowthRev=+2.6%
[Analyst] Revisions Ratio: -20%