Monday 2 November 2026 Export TIGO’s income statement to Excel — free account

Millicom International Cellular SA

TIGO Communication Services Telecom Services

Millicom International Cellular SA’s revenue for fiscal 2025 (year ended December 2025) was $5.8 billion, roughly unchanged from fiscal 2024.

Revenue: +59.4%
EPS: −84.0%
Free cash flow: +66.1%
Total debt: +47.9%

Quarter to June 2026, against a year earlier

Revenue growth 5 yrs

77.38 2.19 −2.75%

Follow TIGO

Alert me

Market cap: $13.3B
P/E: 19.4×
Fwd P/E: 23.4×
Dividend yield: 2.91%
F-score: 7/9
Altman Z: 1.18
Beneish M: −2.15
Dividend safety: 42/100

Overview

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
Piotroski F-Score Full definition →	4	7	3	6	3	6	6	5	8	7
P/E ratio Full definition →	0.00	79.49	0.00	32.15	0.00	4.83	8.59	0.00	16.90	7.04
P/S ratio Full definition →	1.06	1.66	1.63	1.13	0.95	0.86	0.32	0.55	0.74	1.60
Altman Z-Score Full definition →	1.44	1.67	1.31	1.03	0.99	0.60	0.97	0.98	1.20	1.18
P/FCF ratio Full definition →	155.49	30.83	38.65	0.00	657.57	39.76	7.79	54.37	4.80	9.25
Altman Z″-Score (non-manufacturers) Full definition →	1.84	1.76	0.88	1.26	0.94	(0.03)	1.39	1.15	1.30	1.10
P/Operating CF Full definition →	19.01	25.89	27.78	18.13	13.33	8.31	4.36	7.81	9.44	19.48
Beneish M-Score Full definition →	(2.83)	(2.88)	(2.90)	(2.65)	(3.01)	(2.45)	(2.83)	(2.82)	(3.07)	(2.15)
Dividend Safety Score Full definition →	—	—	—	—	—	—	—	—	—	42
P/B ratio Full definition →	1.29	2.07	2.30	1.82	1.74	1.34	0.50	0.90	1.20	2.57
Price to Tangible BV Full definition →	2.17	3.37	14.39	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EV/Sales Full definition →	1.82	2.41	2.61	2.11	2.01	2.42	1.34	1.58	1.61	2.50
EV/EBITDA Full definition →	5.28	7.08	7.01	5.43	5.08	5.68	3.30	4.14	3.63	4.99
EV/Operating CF Full definition →	8.50	11.96	13.02	11.44	10.23	10.78	5.86	7.33	5.83	8.40
EV/FCF Full definition →	266.56	44.56	62.12	(111.71)	1,400.41	112.00	32.29	157.28	10.47	14.51
Quick Ratio Full definition →	0.67	0.60	0.42	0.90	0.64	0.36	0.75	0.60	0.40	0.68
Current Ratio Full definition →	0.88	0.88	0.57	1.10	0.88	0.50	0.97	0.82	0.76	0.88
Net Debt/EBITDA Full definition →	2.20	2.18	2.65	2.54	2.69	3.66	2.51	2.71	1.96	1.81
Debt/Assets Full definition →	40.52%	39.99%	44.42%	46.31%	45.81%	51.15%	47.92%	46.14%	42.33%	39.91%
Debt/Equity Full definition →	1.16	1.15	1.64	2.23	2.50	2.83	1.87	1.94	1.63	1.90
Asset Turnover Full definition →	0.41	0.43	0.40	0.37	0.33	0.31	0.38	0.39	0.41	0.38
Operating CF/Net income Full definition →	(27.44)	9.53	(79.20)	5.38	(2.39)	1.62	7.25	(14.91)	6.34	1.32
Capex/Depreciation Full definition →	(0.91)	(0.68)	(0.75)	(0.79)	(0.67)	(0.72)	(0.77)	(0.87)	(0.58)	(0.57)
Interest Coverage Full definition →	1.28	1.28	1.74	1.02	0.71	1.25	1.48	1.16	1.87	2.34
ROE Full definition →	(0.90%)	2.59%	(0.33%)	5.45%	(13.89%)	23.53%	5.55%	(2.32%)	7.21%	36.58%
ROA Full definition →	(0.32%)	0.90%	(0.10%)	1.28%	(2.72%)	4.28%	1.21%	(0.57%)	1.79%	8.49%
ROIC Full definition →	4.64%	5.01%	5.98%	5.17%	4.14%	4.12%	6.11%	5.54%	9.72%	11.51%
Return on Tangible Assets Full definition →	(1.13%)	3.27%	(0.52%)	4.75%	(14.02%)	51.48%	6.03%	(3.04%)	11.97%	46.72%
Average Days of Receivables Full definition →	43.39	43.43	41.72	41.25	39.12	43.60	31.80	36.17	31.38	44.47
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	40.46%	39.08%	40.95%	36.99%	36.08%	36.28%	33.61%	36.09%	32.99%	30.21%
Intangible Assets out of Total Assets Full definition →	0.14	0.13	0.23	0.25	0.27	0.50	0.52	0.54	0.50	0.45
Share Based Compensation of Revenue Full definition →	0.34%	0.54%	0.56%	0.69%	0.58%	0.40%	0.52%	0.92%	0.86%	0.24%
Graham Net Nets Full definition →	(1.05)	(0.64)	(0.93)	(1.55)	(1.99)	(2.77)	(4.68)	(2.95)	(1.82)	(1.15)
Graham Number Full definition →	0.00	25.00	0.00	29.90	0.00	53.14	29.90	0.00	26.36	61.85
Earnings Yield Full definition →	(0.74%)	1.26%	(0.16%)	3.11%	(8.77%)	20.70%	11.65%	(2.65%)	5.92%	14.20%
Free Cash Flow Yield Full definition →	0.64%	3.24%	2.59%	(1.68%)	0.15%	2.52%	12.84%	1.84%	20.82%	10.81%
Revenue per Share Full definition →	40.91	40.60	39.15	42.87	32.43	33.14	40.45	33.03	33.88	34.73
Operating CF per Share Full definition →	8.75	8.17	7.86	7.92	6.38	7.44	9.23	7.14	9.36	10.35
Capex per Share Full definition →	(8.47)	(5.98)	(6.21)	(8.73)	(6.34)	(6.72)	(7.56)	(6.80)	(4.15)	(4.36)
Free Cash Flow per Share Full definition →	0.28	2.19	1.65	(0.81)	0.05	0.72	1.68	0.33	5.21	5.99
Cash per Share Full definition →	7.88	7.61	6.81	16.71	9.59	8.54	7.88	4.85	4.41	9.56
Shareholders Equity per Share Full definition →	33.57	32.68	27.70	26.50	17.68	21.31	26.13	20.10	20.86	21.61
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	33.57	32.68	27.70	26.50	17.68	21.31	26.13	20.10	20.86	21.61
Free Cash Flow Full definition →	28.00	220.00	166.00	(82.00)	6.00	92.00	233.00	57.00	892.00	1,004.00
Working Capital Full definition →	(232.00)	(250.00)	(1,148.00)	240.00	(301.00)	(2,236.00)	(54.00)	(414.00)	(733.00)	(409.00)
Capital Expenditures Full definition →	(850.00)	(600.00)	(626.00)	(883.00)	(815.00)	(864.00)	(1,051.00)	(1,166.00)	(711.00)	(730.00)
Net Current Asset Value Full definition →	(4,592.00)	(4,365.00)	(5,993.00)	(7,558.00)	(7,841.00)	(10,150.00)	(8,500.00)	(9,156.00)	(7,783.00)	(10,650.00)
EV/EBIT Full definition →	15.52	19.41	16.11	15.90	18.84	16.65	8.23	10.87	6.96	8.89
Capex to Sales Full definition →	0.21	0.15	0.16	0.20	0.20	0.20	0.19	0.21	0.12	0.13
Price to Operating Income Full definition →	9.05	13.43	10.03	8.47	8.85	5.91	1.99	3.76	3.19	5.66
Other line items
Depreciation/Fixed assets Full definition →	0.30	0.31	0.27	0.38	0.44	0.35	0.46	0.43	0.43	0.40
Cash ROIC Full definition →	0.35%	2.81%	2.06%	(0.79%)	0.07%	0.79%	2.02%	0.52%	8.79%	8.29%
Accounts Receivable Turnover Full definition →	8.12	8.38	8.43	9.22	8.90	8.91	11.26	10.77	10.95	9.63
Accounts Payable Turnover Full definition →	2.31	4.12	3.95	4.21	3.74	3.51	4.03	0.00	0.00	0.00
Inventory Turnover Full definition →	16.72	22.52	26.60	33.83	33.94	23.94	25.97	30.76	31.91	23.00
Average Days of Payables Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days of Inventory on Hand Full definition →	19.06	13.63	12.74	9.73	11.53	19.21	12.85	10.90	11.31	19.49
Average Receivables Full definition →	505.50	486.50	468.00	470.50	468.50	478.00	499.50	525.50	530.00	604.00
Average Payables Full definition →	513.90	292.50	283.11	284.94	313.10	341.26	373.40	—	—	—
Average Inventory Full definition →	71.00	53.50	42.00	35.50	34.50	50.00	58.00	49.00	44.50	57.00
Average Assets Full definition →	10,011.00	9,545.50	9,888.50	11,604.00	12,658.50	13,781.50	14,669.50	14,357.00	14,126.50	15,495.00
Average Common Equity Full definition →	3,548.50	3,324.50	3,036.00	2,736.00	2,477.00	2,507.00	3,187.00	3,539.50	3,510.00	3,597.50

Show all line items

Columns are period end dates · fundamentals updated 26 Oct 2026

Stockrow Weekly