Millicom International Cellular S.A.(TIGO)Earnings, Financials & Key Ratios
TIGO•NASDAQ
$92.95
11.9× P/E·Price updated Jul 7, 2026
AboutMillicom International Cellular S.A. provides cable and mobile services in Latin America and Africa. The company offers mobile services, including mobile data and voice; short message service; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance. It also provides cable and other fixed services, including broadband, content, fixed voice, and pay-TV to residential consumers; and fixed, managed services, cloud and security solutions, and value-added services to small, medium, and large businesses, as well as governmental entities. As of December 31, 2021, the company served 44.9 million mobile customers; and 12.7 million cable homes. It markets its products and services under Tigo and Tigo Business brands. The company was founded in 1990 and is headquartered in Luxembourg.Show more
- Revenue$5.82B+0.3%
- EBITDA$2.92B+13.3%
- Net Income$1.32B+420.2%
- EPS (Diluted)7.83+432.7%
- Gross Margin77.47%+2.6%
- EBITDA Margin50.16%+13.0%
- Operating Margin28.17%+21.8%
- Net Margin22.62%+418.8%
- ROE36.59%+407.5%
TIGO Price & Volume
Millicom International Cellular S.A. (TIGO) stock price & volume — 10-year historical chart
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Volatile Revenue Growth Masks Structural Solvency Risks
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Moderate
Financial:Vulnerable
Cash Flow:Deteriorating
Primary Risk:High USD debt exposure
Key Thesis Takeaways
- Millicom's recent 44.5% revenue surge in 2026Q1 appears disconnected from bottom-line performance, as evidenced by a 42.8% decline in EPS and a concerning escalation in capital intensity.
- The company's reliance on debt-funded expansion has pushed the debt-to-equity ratio to 3.70, raising significant questions regarding long-term solvency and the sustainability of its current dividend policy.
- Investors should monitor the $8.7B goodwill balance, which remains vulnerable to impairment if the company fails to translate its aggressive infrastructure spending into consistent, high-quality free cash flow.
Verdict Logic
the company's current ratio of 0.61 and the significant disconnect between revenue growth and cash generation suggest that the current capital-intensive strategy is value-destructive.
TIGO Growth Metrics
Millicom International Cellular S.A. (TIGO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-1.21%
5 Years6.89%
3 Years1.14%
TTM12.97%
Profit CAGR
10 Years-
5 Years-
3 Years184.75%
TTM248.02%
EPS CAGR
10 Years-
5 Years-
3 Years167.71%
TTM256.05%
Return on Capital
10 Years6.67%
5 Years8.7%
3 Years10.51%
Last Year13.39%
TIGO Recent Earnings
Millicom International Cellular S.A. (TIGO) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 3/12 qtrs (25%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
May 12, 2026Metric
Actual
Est
EPS
$0.97-28.7%
$1.36
Rev
$2.0B-0.1%
$2.0B
Q1 2026
Feb 26, 2026Metric
Actual
Est
EPS
$1.50+42.9%
$1.05
Rev
$1.7B+5.5%
$1.6B
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.34-46.2%
$0.63
Rev
$1.4B+1.3%
$1.4B
Q3 2025
Aug 7, 2025Metric
Actual
Est
EPS
$0.51-5.6%
$0.54
Rev
$1.4B-2.7%
$1.4B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 12, 2026 | $0.97vs $1.36-28.7% | $2.0Bvs $2.0B-0.1% |
| Q1 2026 | Feb 26, 2026 | $1.50vs $1.05+42.9% | $1.7Bvs $1.6B+5.5% |
| Q4 2025 | Nov 6, 2025 | $0.34vs $0.63-46.2% | $1.4Bvs $1.4B+1.3% |
| Q3 2025 | Aug 7, 2025 | $0.51vs $0.54-5.6% | $1.4Bvs $1.4B-2.7% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Millicom International Cellular S.A. (TIGO)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $92.95 | $15.57B | 11.87 | 0.26% | 22.62% | 36.59% | 4.83% | |
| $26.15 | $78.54B | 17.67 | 1.82% | 9.23% | 19.81% | — | |
| $5.77 | $5.02B | 12.10 | -96.34% | 7.85% | 7.54% | — | |
| $7.54 | $2.22B | -2.46 | -0.33% | -11.2% | -45.66% | — | |
| $12.67 | $5.46B | -47.72 | 101.3% | 4.17% | 5.38% | — | |
| $13.28 | $21.22B | 18.04 | 4.62% | 10.52% | 9.29% | — |
Compare TIGO vs Peers
Millicom International Cellular S.A. (TIGO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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TIGO Frequently Asked Questions
Millicom International Cellular S.A. (TIGO) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Millicom International Cellular S.A.'s revenue?
Millicom International Cellular S.A. (TIGO) reported $6.43B in revenue for fiscal year 2025. This represents a 2882% increase from $215.6M in 1996.
How fast is Millicom International Cellular S.A. growing?
Millicom International Cellular S.A. (TIGO) grew revenue by 0.3% over the past year. Growth has been modest.
Is TIGO profitable?
Yes, Millicom International Cellular S.A. (TIGO) is profitable, generating $1.23B in net income for fiscal year 2025 (22.6% net margin).
Dividend & Returns
Does TIGO pay dividends?
Yes, Millicom International Cellular S.A. (TIGO) pays a dividend with a yield of 4.83%. This makes it attractive for income-focused investors.
What is TIGO's return on equity?
Millicom International Cellular S.A. (TIGO) has a return on equity (ROE) of 36.6%. This is excellent, indicating efficient use of shareholder capital.
What is Millicom International Cellular S.A.'s free cash flow?
Millicom International Cellular S.A. (TIGO) generated $767.3M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.