Millicom International Cellular S.A (TIGO) AI Stock Analysis

Millicom International Cellular S.A., headquartered in Luxembourg, provides cable and mobile services throughout Latin America and Africa under its Tigo and Tigo Business brands. Its mobile communications portfolio covers mobile data, voice, SMS, and mobile financial services such as payments, money transfers, and micro-insurance. Its residential cable operations deliver broadband, fixed voice, pay-TV, and digital content. For commercial and governmental clients, Millicom provides fixed and managed services, cloud infrastructure, and security solutions. As of December 31, 2021, Millicom served 44.9 million mobile subscribers and connected 12.7 million cable homes across its operating footprint.

Millicom expanded revenue from $4.26B in FY2021 to $5.82B in FY2025, reflecting a 5-year revenue CAGR of 6.9%. FY2025 revenue grew 0.3%, with gross margin reaching 77.5% and operating margin expanding to 28.2%. Net income increased to $1.32B in FY2025 from $253.0M in FY2024, resulting in diluted EPS of $4.32. Over the trailing twelve months, revenue totaled $7.25B with a profit margin of 9.2%. In the latest quarter ended June 30, 2026, quarterly revenue grew 59.4% year-over-year, while quarterly earnings dropped 84.0%.

As of June 30, 2026, Millicom held $861.0M in cash and short-term investments against total debt of $11.90B, leaving net debt at $11.04B. Total assets stood at $20.68B and shareholders' equity was $2.53B, yielding a debt-to-equity ratio of 4.70 and a current ratio of 0.53. In FY2025, operating cash flow reached $1.83B and free cash flow was $1.18B. Cash usage for FY2025 included $650.0M for capital expenditures, $754.0M in dividends paid, and $119.0M deployed into share buybacks.

TIGO trades at a trailing P/E of 20.9x and a forward P/E of 10.0x, compared to medians of 16.2x and 14.1x for its US-listed Communication Services peers. Its enterprise value of $26.44B corresponds to an EV/EBITDA of 8.0x, below the peer median of 10.0x. The stock carries a price-to-sales ratio of 1.9x and a price-to-book ratio of 6.3x. Over the past year, Millicom generated a price return of 88.7%, outperforming the S&P 500 (SPY) return of 16.8%. Over five years, TIGO shares gained 173.1% versus 83.0% for SPY.

Millicom offers an annual forward dividend of $3.00 per share, representing a dividend yield of 3.62%. Dividends are distributed on a quarterly frequency and have been paid for 2 consecutive years. The dividend payout ratio stands at 109.3%, and the company's last ex-dividend date was April 8, 2027.

Wall Street coverage includes 1 Strong Buy, 6 Hold, and 1 Sell rating. The mean price target is $96.39, which sits 16.3% above the last close of $82.86. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $4.55 on revenue of $8.76B. For the subsequent year, 5 analysts project EPS of $7.05 on revenue of $9.15B. Millicom beat EPS estimates in 3 of the last 4 quarters, and its next earnings date is November 5, 2026.

This page is an AI-written research summary of Millicom International Cellular S.A (TIGO). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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