Millicom International Cellular S.A (TIGO) Fair Value & Analysis
Communication Services · US · Market cap $15.9B
Millicom International Cellular S.A
TIGO · US
Fair value as of: Jul 16, 2026
From 26 valuation models · updated 22 days ago
Share price +13.1% over the past month.
A solid business, screening 17% undervalued on our models.
What matters now
- A fairly wide model range ($67.22 to $151.95) leaves room in how you read the outcome.
- Our model range runs from $67.22 (bear) to $151.95 (bull), base $121.56. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 68/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
60‑month range $8.84 – $104.31 · fair‑value band $67.22 – $151.95 · the $104.31 price screens below the $121.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
Millicom International Cellular S.A (TIGO) currently trades at $104.31, while our model-based Fair Value estimate is $121.56, implying the stock looks roughly 16.5% undervalued today. We read business quality at 68/100 (solid quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Millicom International Cellular S.A generated revenue of $6.4B at a net margin of 19.1%. Revenue grew 45.1% year over year. It earns a return on equity of 37.4%. Net debt stands at $7.9B. Fundamentals as of Jul 16, 2026
Our scenario range runs from $67.22 (bear case) to $151.95 (bull case); at $104.31, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 224% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at 17%, TIGO screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings ($143.13) versus Asset-Based ($14.56). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 85
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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. The company serves small, medium, and large businesses, as well as residential consumers and governmental entities. It markets its products and services under the Tigo and Tigo Business brands. The company was founded in 1990 and is headquartered in Luxembourg, Luxembourg.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Millicom International Cellular S.A reported revenue of $5.8B in FY2025 versus $4.3B in FY2021, a compound +8.1%/yr. Reported net income was $1.3B in FY2025, compounding +22.2%/yr from FY2021.
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Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Notable ETF Inflow Detected - EFV, NBIS, AER, TIGO
- Millicom (Tigo) notice of second quarter 2026 results and video conference
- Results of the Millicom (Tigo) AGM held today
- Millicom International Cellular TIGO Valuation Check After Strong Long Term Shareholder Returns
Peer Group
Telecom Services · 252 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Telecom Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Mobile Limited 600941 | ¥89.98 | ¥109.88 | +22% |
| T-Mobile US, Inc TMUS | $187.61 | $172.67 | -8% |
| Bharti Airtel Limited BHARTIARTL | ₹1,922 | ₹941.55 | -51% |
| China Telecom Corporation 601728 | ¥6.01 | ¥8.36 | +39% |
| América Móvil, S.A. AMXB | 23.07 MXN | 30.35 MXN | +32% |
| Vodafone Group VODN | 259.50 MXN | 507.27 MXN | +95% |
| Advanced Info Service Public Company ADVANC | 379.00 THB | 286.77 THB | -24% |
| Chunghwa Telecom Co 2412 | 133.50 TWD | 100.00 TWD | -25% |
| China Unicom (Hong Kong) Limited 0762 | HK$6.50 | HK$13.03 | +100% |
| Telefónica, S.A TEFN | 75.67 MXN | 111.01 MXN | +47% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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