Millicom International Cellular (TIGO) Stock Overview
Engages in the provision cable and mobile services in Latin America. More details
| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 4/6 |
| Past Performance | 2/6 |
| Financial Health | 1/6 |
| Dividends | 5/6 |
TIGO Community Fair Values
Create NarrativeSee what 49 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Millicom International Cellular S.A. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$96.68 |
| 52 Week High | US$107.13 |
| 52 Week Low | US$44.88 |
| Beta | 0.90 |
| 1 Month Change | 0.22% |
| 3 Month Change | 3.10% |
| 1 Year Change | 103.41% |
| 3 Year Change | 513.06% |
| 5 Year Change | 165.68% |
| Change since IPO | 448.53% |
Recent News & Updates
Narrative Update • Sep 03
TIGO: Colombia Integration And Legal Overhang Will Test Future Execution
The analyst price target for Millicom International Cellular has been revised higher to $98.39 from $88.43. This reflects updated views on fair value and P/E assumptions as analysts respond to recent price target changes in the $94 to $105 range and reassess the company within the Latin America telecom sector.Seeking Alpha • Aug 26
Millicom: Improving Fundamentals, But I Would Wait For A Better Entry
Summary Millicom International Cellular is rated 'Hold' as its current price exceeds my base-case fair value estimate of $80 per share. TIGO's recent growth is driven by acquisitions, with organic improvements and margin expansion, but leverage remains elevated and integration risk persists. 2027 EPS is independently estimated at $6.17, below consensus, with a 13x forward P/E yielding a fair value notably under the current market price. I will monitor debt reduction and equity free cash flow progress, considering a buy if shares retrace to the $75–$82 range. Read the full article on Seeking Alpha
Narrative Update • Aug 19
TIGO: Colombia Restructuring And Capex Risks Will Cap Upside Potential
Millicom International Cellular's analyst fair value estimate has shifted from $54.51 to $60.10. Analysts point to updated views on consolidation benefits, execution risk and regional operations as key drivers behind the new price target assumptions.Recent updates
Narrative Update • Sep 03
TIGO: Colombia Integration And Legal Overhang Will Test Future Execution
The analyst price target for Millicom International Cellular has been revised higher to $98.39 from $88.43. This reflects updated views on fair value and P/E assumptions as analysts respond to recent price target changes in the $94 to $105 range and reassess the company within the Latin America telecom sector.Seeking Alpha • Aug 26
Millicom: Improving Fundamentals, But I Would Wait For A Better Entry
Summary Millicom International Cellular is rated 'Hold' as its current price exceeds my base-case fair value estimate of $80 per share. TIGO's recent growth is driven by acquisitions, with organic improvements and margin expansion, but leverage remains elevated and integration risk persists. 2027 EPS is independently estimated at $6.17, below consensus, with a 13x forward P/E yielding a fair value notably under the current market price. I will monitor debt reduction and equity free cash flow progress, considering a buy if shares retrace to the $75–$82 range. Read the full article on Seeking AlphaNarrative Update • Aug 19
TIGO: Colombia Restructuring And Capex Risks Will Cap Upside Potential
Millicom International Cellular's analyst fair value estimate has shifted from $54.51 to $60.10. Analysts point to updated views on consolidation benefits, execution risk and regional operations as key drivers behind the new price target assumptions.Narrative Update • Aug 05
TIGO: Colombia Integration Progress Will Face Valuation And Execution Tests
Millicom International Cellular's analyst fair value estimate has moved from $85.30 to about $88.43 as analysts factor in updated revenue growth, margin and P/E assumptions, alongside higher price targets from several firms that cite Colombia consolidation progress and revised sector risk premiums. Analyst Commentary Recent Street research on Millicom International Cellular points to a split view on the stock.
Narrative Update • Jul 21
TIGO: Colombia Consolidation And Index Additions Will Shape Balanced Forward Risk Reward
The analyst price target for Millicom International Cellular has been raised by $5 to $105, reflecting updated views that factor in changes to growth, margin and P/E assumptions discussed in recent Street research. Analyst Commentary Recent Street research on Millicom International Cellular shows a mix of caution and optimism, with several bullish analysts lifting price targets while others highlight valuation and execution risks.Narrative Update • Jul 07
TIGO: Future Will Struggle With Colombia Execution Risks After Sharp Rally
Millicom International Cellular's implied fair value price target has edged up by about $2.10 to roughly $85.30, as analysts factor in updated assumptions around revenue growth, profitability and P/E, along with recent Street research that reflects higher but more mixed target revisions and views on execution risk. Analyst Commentary Recent research on Millicom International Cellular shows a split in opinion, with some analysts leaning more optimistic on the company’s earnings power and others highlighting valuation and execution risks, especially around Colombia.Narrative Update • Jun 23
TIGO: Colombia Execution Risks Will Limit Upside After Sharp Share Rally
Analyst price targets for Millicom International Cellular have been revised higher, with the modelled fair value moving from $46.65 to $54.51 as analysts factor in updated assumptions on global risk premiums, valuation after the year-to-date rally, and progress around Colombia consolidation and restructuring. Analyst Commentary Recent research on Millicom International Cellular shows a mix of optimism and caution, with higher modelled fair values sitting alongside more reserved ratings.Narrative Update • Jun 05
TIGO: Future Will Balance Colombia Execution Risks With Dividend And Buyback Support
Analysts have lifted the implied fair value for Millicom International Cellular from $52.35 to $83.20, reflecting updated assumptions on faster revenue growth, a higher future P/E of 14.76, and recent Street research where price targets now range from about $52 to $100, alongside comments on improved Colombia execution and higher global equity risk premiums. Analyst Commentary Recent Street research on Millicom International Cellular shows a split view, with some analysts focused on upside from Colombia and acquisitions, and others putting more weight on valuation and execution risks.Narrative Update • May 21
TIGO: Faster Colombia Consolidation And Network Expansion Will Reshape Forward Risk Reward Profile
Analysts lifted their price target on Millicom International Cellular to $100 from $89, citing updated assumptions that include a revised discount rate, adjusted revenue growth expectations, higher projected profit margins, a slightly lower future P/E multiple, and recent research that points to faster than expected progress from the Colombia consolidation. Analyst Commentary Recent Street research points to a clear shift in sentiment around Millicom International Cellular, with bullish analysts revisiting their models and assigning higher values to the stock.Narrative Update • Apr 27
TIGO: Colombia Integration And Leverage Balance Will Shape Forward Risk Reward Profile
Analysts have lifted Millicom International Cellular's consensus price target to $89, citing updated models that factor in Colombia, slightly adjusted revenue growth and profit margin assumptions, and refined P/E expectations. Analyst Commentary Recent research has leaned more positive on Millicom International Cellular, with several bullish analysts revisiting their models and aligning around a higher US$89 price target.Narrative Update • Apr 13
TIGO: Colombia Integration And Leverage Concerns Will Shape Future Risk Reward Profile
Analysts have raised their consolidated price target on Millicom International Cellular by $8.20 to $89, citing updated models that now incorporate Colombia, along with mixed views on leverage but generally more constructive long term assumptions regarding revenue, profit margins and the future P/E multiple. Analyst Commentary Recent research updates on Millicom International Cellular show a cluster of optimistic views around valuation, execution and growth potential, even as some analysts remain cautious on leverage.Narrative Update • Mar 30
TIGO: Chile Bid Interest And Leverage Profile May Shape Upside Potential
Analysts have raised the fair value estimate for Millicom International Cellular to $89 from $75. This change reflects updated models that incorporate higher revenue growth assumptions, a revised future P/E of 15.39x, and recent price target increases from several research firms.Narrative Update • Mar 16
TIGO: Telefonica Chile Bid And Rich P E Multiple Will Constrain Returns
Millicom International Cellular's updated analyst price target moves slightly to $46.65 from $46.80, as analysts factor in higher modeled revenue growth, a lower profit margin outlook, a higher P/E multiple, and a modestly higher discount rate amid mixed recent rating changes. Analyst Commentary Recent Street research on Millicom International Cellular reflects a split view, with some firms outlining upside scenarios at higher price targets and others flagging balance sheet and execution risks.Narrative Update • Mar 01
TIGO: Leverage Concerns And Chile Bid Interest May Guide Future Balance
Analysts have nudged their fair value estimate for Millicom International Cellular up from $70.00 to $75.00, reflecting updated assumptions around profit margins and future P/E multiples, despite mixed recent rating changes on the stock. Analyst Commentary Recent Street research has sent mixed signals, with some downgrades focused on what has been described as sub optimal leverage and a more cautious stance on the shares.Narrative Update • Feb 15
TIGO: Leverage Concerns And Chile Bid May Shape Balanced Future Upside
Analysts have lifted their price target on Millicom International Cellular to $70.00 from $62.60, reflecting updated views on growth, leverage and future P/E assumptions following recent mixed research that includes a downgrade on balance sheet concerns and an earlier upgrade supported by expectations for further share upside. Analyst Commentary Recent Street research on Millicom International Cellular shows a split tape, but there are some clear positives that bullish analysts keep coming back to, especially around valuation, execution and potential growth optionality.Narrative Update • Feb 01
TIGO: Telefonica Chile Bid And Rich P E Assumptions Will Pressure Returns
Narrative update on Millicom International Cellular Analysts have lifted their Millicom International Cellular price target to US$63 from US$55, reflecting updated views on revenue growth, profit margins and P/E assumptions that underpin a steady fair value estimate of US$46.80. Analyst Commentary The recent move in the Millicom International Cellular price target to US$63 from US$55, with a fair value estimate cited at US$46.80, highlights how divided opinion is around the shares.Narrative Update • Jan 18
TIGO: Elevated Expectations Around Telefonica Chile Bid Will Likely Pressure Future Returns
Analysts have raised their fair value estimate for Millicom International Cellular to US$46.80 from US$36.00, citing updated assumptions on revenue growth, profit margins and a lower forward P/E in light of recent positive research and higher Street price targets. Analyst Commentary Recent research coverage on Millicom International Cellular has leaned supportive, with some high profile firms maintaining constructive views on the shares and on the company´s positioning in Latin America.Narrative Update • Jan 04
TIGO: Future Margin Expansion May Support Balanced Upside Despite Recent Rally
Analysts have raised their price target on Millicom International Cellular from $55 to about $63 per share, citing expectations of stronger revenue growth and higher profit margins. They also see potential for continued share upside despite the recent rally.Narrative Update • Dec 16
TIGO: Future Will Weigh Latin America Upside Against Execution And Macro Risks
Analysts have lifted their price target on Millicom International Cellular to $63 from $55, citing continued share upside potential even after the stock's recent rally and reaffirming the company as a top pick in Latin America. Analyst Commentary Recent research updates highlight a constructive stance on Millicom International Cellular, with the higher price target framed around improving fundamentals and continued re-rating potential despite recent share gains.Narrative Update • Dec 02
TIGO: Future Will Balance Colombia Developments Against Peer Comparisons And Market Optimism
Millicom International Cellular's analyst fair value estimate has increased by $1.00 to $52.35. Analysts point to recent price target hikes and improved long-term profit margin expectations as reasons supporting a higher valuation.Narrative Update • Nov 18
TIGO: Medium-Term Outlook Will Weigh Colombia Market Developments Against Softer Regional Trends
Analysts have raised their fair value price target for Millicom International Cellular from $49.14 to $51.35. This reflects improved growth prospects, a higher profit margin outlook, and ongoing optimism following recent upward Street research revisions.Narrative Update • Nov 03
TIGO: Heavy Acquisition Costs And Colombia Deal Will Shape Future Performance
Millicom International Cellular’s analyst price target has risen notably, with recent updates reflecting an increase from $39.50 to $49.00. Analysts point to the company’s valuation now aligning with regional peers despite tempered growth expectations.Narrative Update • Oct 20
Low-Cost Competition And High Capex Will Weaken Latin American Networks
Millicom International Cellular’s analyst price target has increased notably from $46.51 to $49.14, as analysts cite valuation improvements relative to Latin American peers. This comes despite a softer growth outlook and ongoing interest concerns.Narrative Update • Oct 05
Low-Cost Competition And High Capex Will Weaken Latin American Networks
Millicom International Cellular's analyst price target has risen slightly from approximately $45.57 to $46.51. Analysts cite improved valuation alignment with peers but note that a softer growth outlook and lingering acquisition-related debt temper expectations for future performance.Narrative Update • Sep 19
Low-Cost Competition And High Capex Will Weaken Latin American Networks
Analysts have modestly raised Millicom International Cellular's price target to $45.57 as its valuation premium versus peers has diminished and growth remains subdued, with potential deal upside already reflected and high interest costs highlighting the need for successful execution of its turnaround strategy. Analyst Commentary Valuation for Millicom has caught up with regional peers, eroding its previous discount advantage.Narrative Update • Sep 04
Low-Cost Competition And High Capex Will Weaken Latin American Networks
Analysts remain cautiously optimistic about Millicom International Cellular’s turnaround strategy and growth potential following major acquisitions, but highlight elevated interest burden and execution risks, resulting in an unchanged consensus price target of $44.06. Analyst Commentary Bullish analysts are raising price targets reflecting expectations of an impressive turnaround strategy from Millicom.Seeking Alpha • Jan 27
Millicom International Cellular: Continued Potential For Outperformance Exists In 2025
Summary Millicom International Cellular has performed close to the S&P500 trend, with a 5% RoR, which I consider within the margin of error. I believe in diversifying investments in emerging markets, particularly in Africa, the Middle East, Asia, and LATAM/South America. Millicom, now focused on LATAM, benefits from divestments and operational changes, aligning with my strategy of increasing exposure to these regions. The next 100 years will see rising importance in South America, Latin America, and Africa, making this a "good" long-term investment strategy. Read the full article on Seeking AlphaSeeking Alpha • Oct 25
Millicom: Excellent Outperformance On A Too Small Position
Summary Millicom operates in politically volatile Latin American markets, leading to high volatility but significant growth potential, particularly in Guatemala, Panama, and Honduras. Despite geopolitical and debt risks, Millicom's 2Q24 results are strong, with EBITDA up 20%, leverage down, and positive free cash flow. Key transactions, including acquisitions in Colombia and a merger in Costa Rica, aim to enhance growth and market position, though they increase risk. I rate Millicom a speculative "BUY" with a $29/share PT, acknowledging its high risk/reward ratio and significant growth potential in the telco sector. Read the full article on Seeking Alpha
New Narrative • Sep 02
Efficiency, Expansion, And Decisive Shifts Set To Propel Profitability And Market Leadership
Strengthened market leadership and efficient operations suggest increased profitability and revenue growth in mobile and B2B segments.Seeking Alpha • Jul 24
Millicom International Cellular Q2 Earnings Preview (Rating Downgrade)
Summary Millicom's Q2 earnings preview includes EPS of $0.54 and revenue of $1.48 billion, with limited revisions. DCF analysis suggests a price target of $21.80, a 12% downside from current price, leading to a rating downgrade from buy to sell. Market has recognized Millicom's value, but the share price may be overvalued; potential upside from acquisition or further cash flow improvement, but downside risks remain. Read the full article on Seeking AlphaSeeking Alpha • Jan 19
Millicom International Cellular Setting Up For A Great 2024
Summary The company has revised its 2022-2024 equity free cash flow guidance from $500 million to $600 million, indicating a positive outlook. Despite an expected dip in 2023 revenue and profit, the underlying business is improving, with cost restructuring efforts exceeding expectations and one-time items skewing profitability figures. Considering the current trends and updated free cash flow guidance, a DCF analysis yields a price target of $20.50, representing a 14% upside from current pricing. Read the full article on Seeking AlphaShareholder Returns
| TIGO | US Wireless Telecom | US Market | |
|---|---|---|---|
| 7D | 2.0% | -4.9% | -2.2% |
| 1Y | 103.4% | -21.8% | 13.1% |
Return vs Industry: TIGO exceeded the US Wireless Telecom industry which returned -21.8% over the past year.
Return vs Market: TIGO exceeded the US Market which returned 13.1% over the past year.
Price Volatility
| TIGO volatility | |
|---|---|
| TIGO Average Weekly Movement | 6.6% |
| Wireless Telecom Industry Average Movement | 6.6% |
| Market Average Movement | 6.9% |
| 10% most volatile stocks in US Market | 15.4% |
| 10% least volatile stocks in US Market | 2.9% |
Stable Share Price: TIGO has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: TIGO's weekly volatility (7%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1990 | 14,250 | Marcelo Benitez | www.millicom.com |
Millicom International Cellular S.A. engages in the provision cable and mobile services in Latin America. The company offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance. In addition, the company provides fixed services, including broadband, fixed voice, and pay-TV; and fixed-voice and data telecommunications services, managed services, cloud and security solutions, and value-added services; and tower infrastructure and services.
Millicom International Cellular S.A. Fundamentals Summary
| TIGO fundamental statistics | |
|---|---|
| Market cap | US$16.18b |
| Earnings (TTM) | US$669.00m |
| Revenue (TTM) | US$7.25b |
24.2x
P/E Ratio2.2x
P/S RatioIs TIGO overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| TIGO income statement (TTM) | |
|---|---|
| Revenue | US$7.25b |
| Cost of Revenue | US$1.70b |
| Gross Profit | US$5.55b |
| Other Expenses | US$4.88b |
| Earnings | US$669.00m |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
Nov 05, 2026
| Earnings per share (EPS) | 3.99 |
| Gross Margin | 76.55% |
| Net Profit Margin | 9.23% |
| Debt/Equity Ratio | 358.4% |
How did TIGO perform over the long term?
See historical performance and comparisonDividends
4.7%
Current Dividend Yield75%
Payout RatioDoes TIGO pay a reliable dividends?
See TIGO dividend history and benchmarks| Millicom International Cellular dividend dates | |
|---|---|
| Ex Dividend Date | Oct 08 2026 |
| Dividend Pay Date | Oct 15 2026 |
| Days until Ex dividend | 26 days |
| Days until Dividend pay date | 33 days |
Does TIGO pay a reliable dividends?
See TIGO dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/11 22:08 |
| End of Day Share Price | 2026/09/11 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Millicom International Cellular S.A. is covered by 22 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Barry Zeitoune | Berenberg |
| Justine Dimovic | BNP Paribas |
| Mathieu Robilliard | BNP Paribas |