Revenue
5Y CAGR +8.9%5Y CAGR +8.9%$5.8B FY25
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
TIGO
$77.09-0.54%
as of close, Nov 4, 2026
☾ AH $77.09 -0.54%
Millicom International Cellular S.A.Stock · Communication ServicesMSCI EAFE · 0.04% of EFARussell 1000 · 0.01% of IWBMSCI ACWI · 0.009% of ACWIMSCI World · 0.009% of URTH
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TIGO financial statements
The full income statement, balance sheet, and cash-flow statement for Millicom International Cellular S.A. (TIGO), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Financial overview#
Gross profit
5Y CAGR +10.4%5Y CAGR +10.4%$4.5B FY25
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Operating income
5Y CAGR +32.5%5Y CAGR +32.5%$1.6B FY25
FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Net income
5Y n/m5Y n/m$1.4B FY25
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
EPS (diluted)
5Y n/m5Y n/m$7.83 FY25
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Operating cash flow
5Y CAGR +16.1%5Y CAGR +16.1%$1.7B FY25
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Capital expenditure
5Y CAGR +0.9%5Y CAGR +0.9%$650M FY25
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Free cash flow
5Y CAGR +40.4%5Y CAGR +40.4%$1.1B FY25
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Shares (diluted)
5Y +30.3%5Y +30.3%168M FY25
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Dividend per share
$4.46 FY25
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Shares outstanding (point-in-time)
2017-12 100.4M2018-12 101.7M2019-12 101.7M2020-12 101.7M2021-12 101.7M2022-12 139.7M2023-12 172.1M2024-12 172.1M2025-12 169.0M+68.4% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 5.82B+0.3% | 5.80B+2.5% | 5.66B+0.7% | 5.62B+32.0% | 4.26B+12.0% | |
| 4.51B+2.8% | 4.38B+5.5% | 4.15B+0.9% | 4.12B+34.4% | 3.06B+11.6% | ||
| Cost of revenue | 1.31B-7.7% | 1.42B-5.8% | 1.51B+0.1% | 1.51B+25.8% | 1.20B+12.9% | |
| Operating income | 1.64B+22.1% | 1.34B+62.5% | 826M-9.7% | 915M+47.8% | 619M+54.0% | |
| Interest expense | 702M-2.0% | 716M+0.6% | 712M+15.4% | 617M+24.6% | 495M-11.6% | |
| Pre-tax income | 1.67B+201.6% | 552M+215.4% | 175M-26.5% | 238M-67.3% | 728M+388.9% | |
| Income tax | 303M+7.8% | 281M-33.7% | 424M+91.0% | 222M+40.5% | 158M+119.4% | |
| 1.36B+408.2% | 268M+209.4% | -245M-289.9% | 129M-76.2% | 542M+240.8% | ||
| Net income to common | 1.32B+420.2% | 253M+408.5% | -82.0M-146.3% | 177M-70.0% | 590M+271.5% | |
| $7.83+436.3% | $1.46+404.2% | -$0.48-137.8% | $1.27-72.2% | $4.57+271.2% | ||
| EPS (basic) | $7.86+434.7% | $1.47+406.3% | -$0.48-137.8% | $1.27-72.3% | $4.59+271.3% | |
| Weighted-avg shares (basic) | 168M-2.2% | 171M-0.0% | 171M+23.3% | 139M+8.1% | 129M-0.0% | |
| Weighted-avg shares (diluted) | 168M-2.6% | 173M+0.7% | 171M+22.7% | 140M+8.2% | 129M+0.1% | |
| Dividends per share | $4.46 | — | — | — | — | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 1.55B+122.0% | 699M-9.8% | 775M-25.4% | 1.04B+16.1% | 895M+2.3% | |
| Inventory | 70.0M+59.1% | 44.0M-2.2% | 45.0M-15.1% | 53.0M-15.9% | 63.0M+70.3% | |
| 17.3B+25.6% | 13.7B-5.4% | 14.5B+2.2% | 14.2B-6.2% | 15.1B+21.9% | ||
| Property, plant & equipment | 3.23B+13.3% | 2.85B-8.4% | 3.11B+3.9% | 2.99B-11.6% | 3.38B+22.8% | |
| Goodwill | 4.26B+4.2% | 4.09B-0.3% | 4.11B+1.2% | 4.06B-1.0% | 4.10B+147.0% | |
| Total non-current assets | 14.3B+25.6% | 11.4B-9.9% | 12.6B+3.9% | 12.1B-5.9% | 12.9B+27.4% | |
| Short-term & current debt | 142M+2.9% | 138M+331.3% | 32.0M-47.5% | 61.0M+408.3% | 12.0M-77.8% | |
| 13.6B+34.1% | 10.2B-8.2% | 11.1B+4.8% | 10.6B-14.8% | 12.4B+22.2% | ||
| Long-term debt | 6.56B+18.5% | 5.53B-14.6% | 6.48B-2.2% | 6.62B+12.2% | 5.90B+5.8% | |
| 3.64B+0.3% | 3.63B+2.8% | 3.53B-2.1% | 3.60B+39.6% | 2.58B+25.4% | ||
| Total equity incl. non-controlling | 3.62B+1.3% | 3.57B+3.7% | 3.44B-5.2% | 3.63B+32.6% | 2.74B+20.5% | |
| Common shares issued | 169M-1.8% | 172M+0.0% | 172M+0.0% | 172M+69.2% | 102M+0.0% | |
| Shares outstanding (cover) | 169M-1.8% | 172M+0.0% | 172M+0.0% | 172M+69.2% | 102M+0.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.73B+8.2% | 1.60B+31.1% | 1.22B-4.8% | 1.28B+34.3% | 956M+16.4% | ||
| Depreciation & amortization | 961M+4.9% | 916M-6.3% | 978M-2.1% | 999M+24.3% | 804M-28.2% | |
| Intangible amortization | 319M+0.0% | 319M-11.4% | 360M+4.3% | 345M+11.3% | 310M+0.3% | |
| Capital expenditure | 650M+20.4% | 540M-33.7% | 814M+1.8% | 800M+8.1% | 740M+19.0% | |
| Free cash flow | 1.08B+2.0% | 1.06B+159.9% | 409M-15.5% | 484M+124.1% | 216M+8.5% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Long-term debt issued | 1.20B+98.5% | 604M+66.9% | 362M-76.9% | 1.57B-49.6% | 3.11B+111.8% | |
| Long-term debt repaid | 599M-56.1% | 1.37B+116.1% | 632M-70.3% | 2.13B+59.3% | 1.33B-23.5% | |
| Common stock issued | 0.00 | 0.00 | 0.00-100.0% | 717M | 0.00 | |
| Common stock repurchased | 128M+77.8% | 72.0M+620.0% | 10.0M+233.3% | 3.00M-94.4% | 54.0M+237.5% | |
| Dividends paid | 754M | 0.00 | 0.00 | 0.00 | 0.00 | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 9.37B+117.7% | 4.30B+71.2% | 2.51B+95.7% | 1.28B-55.6% | 2.89B-26.6% | |
| P/E | 6.9×-57.2% | 16.1×-17.6% | 19.5×+722.2% | 2.4×-55.6% | 5.3× | |
| P/S | 1.6×+117.1% | 0.7×+65.9% | 0.4×+48.3% | 0.3×-55.6% | 0.7×-34.5% | |
| P/B | 2.6×+117.0% | 1.2×+70.1% | 0.7×+40.2% | 0.5×-55.6% | 1.1×-41.5% | |
| P/FCF | 8.6×+113.5% | 4.0×-22.1% | 5.2×-12.7% | 5.9×-55.6% | 13.4×-32.4% | |
| Earnings yield | 14.5%+133.5% | 6.2%+21.4% | 5.1%-87.8% | 42.2%+125.3% | 18.7% | |
| FCF yield | 11.6%-53.2% | 24.7%+28.3% | 19.2%+14.5% | 16.8%+125.3% | 7.5%+48.0% | |
| Dividend yield | 8.0% | — | — | — | — | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F/A |
About this data
Source: TIGO’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TIGO filings on SEC EDGAR → Not investment advice.
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