Millicom International Cellular S.A. (TIGO)

TIGO Financials Overview

Financials in millions USD. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	8,109	5,819	5,804	5,661	5,624	4,261
Revenue Growth	45.38%	0.26%	2.53%	0.66%	31.99%	11.98%
Gross Profit Gross Profit Growth	6,183	4,508	4,384	4,154	4,118	3,064
Operating Income Operating Income Growth	1,945	1,510	1,351	862	886	410
Net Income Net Income Growth	568	1,316	253	-82	177	590
Earnings Per Share EPS Growth	3.38	7.83	1.46	-0.48	1.27	5.83
EPS Growth	-47.67%	435.34%	-	-	-78.25%	-

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Mobile Service Mobile Service Growth	4,618	3,265	3,159	2,993	2,957	2,000
Cable and Other Fixed Cable and Other Fixed Growth	2,849	2,068	2,175	2,192	2,145	1,938
Other Service Other Service Growth	121	98	84	65	69	60
Telephone and Equipment Telephone and Equipment Growth	500	367	387	411	454	263
Revenue (Total) Revenue (Total) Growth	8,092	5,819	5,804	5,661	5,624	4,261

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	848	1,552	699	775	1,039	895
Total Debt Total Debt Growth	12,042	9,494	6,828	7,786	7,873	8,912
Net Cash (Debt) Net Cash Growth	-11,194	-7,942	-6,129	-7,011	-6,834	-8,017
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-66.81	-47.27	-35.52	-40.91	-48.92	-79.27

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	2,505	1,734	1,603	1,223	1,284	956
Capital Expenditures CapEx Growth	-844	-650	-540	-814	-800	-740
Free Cash Flow Free Cash Flow Growth	1,661	1,084	1,063	409	484	216
Free Cash Flow Growth	53.94%	1.98%	159.90%	-15.50%	124.07%	8.54%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	76.25%	77.47%	75.53%	73.38%	73.22%	71.91%
Operating Margin	23.99%	25.95%	23.28%	15.23%	15.75%	9.62%
Pretax Margin	10.98%	28.61%	9.51%	3.09%	4.23%	17.09%
Profit Margin	7.00%	22.62%	4.36%	-1.45%	3.15%	13.85%
FCF Margin	20.48%	18.63%	18.32%	7.22%	8.61%	5.07%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024
Period Ending	Nov 9, 2026	Dec 31, 2025	Dec 31, 2024
Dividend Per Share Dividend Per Share Growth	4.500	3.000	1.750
Dividend Per Share Growth	-18.18%	71.43%	-
Dividend Yield	5.41%	5.41%	7.00%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 9, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	24.62	7.04	16.83	-	12.19	4.83
Forward PE	12.32	14.71	8.11	8.04	14.08	20.11
P/FCF Ratio	8.41	8.55	4.01	7.56	4.46	13.20
PS Ratio	1.72	1.59	0.73	0.55	0.38	0.67

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Nov 5, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Nov 9, 2026

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