(TIGO) Millicom International - Ratings and Ratios

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

Mobile, Cable, Broadband, Money, Tv

Stock: Wireless Telecommunication Services
Age 31.9y
MCap 9,362m
Avg Vol 1.04M (56.0M USD)
Beta 0.143
Volatility 32.01%

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 14.53%
Yield on Cost 5y 14.81%
Yield CAGR 5y %
Payout Consistency 23.1%
Payout Ratio 65.0%
Risk via 5d forecast
Volatility 32.0%
Value at Risk 5%th 47.6%
Relative Tail Risk -9.58%
Reward TTM
Sharpe Ratio 2.71
Alpha 139.00
CAGR/Max DD 2.06
Character TTM
Hurst Exponent 0.340
Beta 0.143
Beta Downside 0.305
Drawdowns 3y
Max DD 28.97%
Mean DD 8.56%
Median DD 5.47%

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
FCF/TA: 0.07 > 0.02 and ΔFCF/TA 1.21 > 1.0
NWC/Revenue: -4.52% < 20% (prev -1.52%; Δ -3.00% < -1%)
CFO/TA 0.12 > 3% & CFO 1.82b > Net Income 1.09b
Net Debt (6.73b) to EBITDA (3.17b): 2.12 < 3
Current Ratio: 0.92 > 1.5 & < 3
Outstanding Shares: last quarter (168.1m) vs 12m ago -2.64% < -2%
Gross Margin: 71.65% > 18% (prev 0.53%; Δ 7112 % > 0.5%)
Asset Turnover: 37.72% > 50% (prev 41.59%; Δ -3.87% > 0%)
Interest Coverage Ratio: 3.39 > 6 (EBITDA TTM 3.17b / Interest Expense TTM 641.0m)

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 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)
Altman-Z'' Score: 1.67 = BB

Beneish M -2.97

DSRI: 1.51 (Receivables 699.0m/485.0m, Revenue 5.59b/5.85b)
GMI: 0.74 (GM 71.65% / 53.02%)
AQI: 0.93 (AQ_t 0.51 / AQ_t-1 0.54)
SGI: 0.96 (Revenue 5.59b / 5.85b)
TATA: -0.05 (NI 1.09b - CFO 1.82b) / TA 15.59b)
Beneish M-Score: -2.97 = A

ValueRay F-Score (Strict, 0-100) 80.57

1. Piotroski: 7.50pt
2. FCF Yield: 7.25%
3. FCF Margin: 20.86%
4. Debt/Equity: 2.53
5. Debt/Ebitda: 2.12
6. ROIC - WACC: 12.21%
7. RoE: 31.52%
8. Revenue Trend: 35.26%
9. EPS Trend: 37.34%

What is the price of TIGO shares?

As of January 23, 2026, the stock is trading at USD 60.56 with a total of 1,256,320 shares traded.
Over the past week, the price has changed by +8.08%, over one month by +14.43%, over three months by +29.28% and over the past year by +141.84%.

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 58 -4.3%
Analysts Target Price 58 -4.3%
ValueRay Target Price 71.6 18.3%

TIGO Fundamental Data Overview January 17, 2026

P/E Trailing = 8.5936
P/E Forward = 13.3333
P/S = 1.6735
P/B = 2.629
P/EG = 0.4558
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 = 16.09b USD (9.36b + Debt 8.44b - CCE 1.71b)
Interest Coverage Ratio = 3.39 (Ebit TTM 2.17b / Interest Expense TTM 641.0m)
EV/FCF = 13.79x (Enterprise Value 16.09b / FCF TTM 1.17b)
FCF Yield = 7.25% (FCF TTM 1.17b / Enterprise Value 16.09b)
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 16.09b / 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 = 4.07% (E(9.36b)/V(17.80b) * Re(6.44%) + D(8.44b)/V(17.80b) * Rd(2.05%) * (1-Tc(0.29)))
Discount Rate = 6.44% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -1.07%
[DCF Debug] Terminal Value 88.43% ; FCFF base≈1.05b ; Y1≈1.30b ; Y5≈2.21b
Fair Price DCF = 345.3 (EV 64.42b - Net Debt 6.73b = Equity 57.69b / Shares 167.1m; r=5.90% [WACC]; 5y FCF grow 25.0% → 2.90% )
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=1.54 | Chg30d=+0.602 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=3.78 | Chg30d=+0.008 | Revisions Net=-1 | Growth EPS=+27.7% | Growth Revenue=+17.9%

Additional Sources for TIGO Stock

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