TIGO (Millicom International Cellular S.A.) Stock Financials & Earnings | Market Cap Arena

TIGO (Millicom International Cellular S.A.) Stock Financials & Earnings | Market Cap Arena

TIGOMillicom International Cellular S.A.

Mkt Cap$12B

Communication Services·Telecommunications Services·🇱🇺 Luxembourg·NASDAQ

Revenue (TTM)$5.8B

Net Income (TTM)$1.3B

EPS (TTM)$7.83

Free Cash Flow (TTM)$1.2B

Gross Margin72.3%

Op. Margin26.7%

Net Margin22.6%

FCF Margin20.1%

P/S Ratio (TTM)2.1x

P/E Ratio (TTM)9.2x

YoY Rev Growth+0.2%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$1.4B	$666M	$176M
Q2 23	$1.4B	$685M	$187M
Q3 23	$1.4B	$724M	$196M
Q4 23	$1.5B	$741M	$214M
Q1 24	$1.5B	$771M	$298M
Q2 24	$1.5B	$800M	$329M
Q3 24	$1.4B	$790M	$286M
Q4 24	$1.4B	$1.1B	$374M
Q1 25	$1.4B	$761M	$338M
Q2 25	$1.4B	$1.1B	$357M
Q3 25	$1.4B	$1.1B	$390M
Q4 25	$1.7B	$1.3B	$469M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	2.2x	319.8x
Q2 23	2.2x	1736.1x
Q3 23	2.2x	328.5x
Q4 23	2.1x	—
Q1 24	2.1x	2025.5x
Q2 24	2.1x	114.6x
Q3 24	2.1x	76.9x
Q4 24	2.1x	48.0x
Q1 25	2.1x	34.3x
Q2 25	2.2x	12.8x
Q3 25	2.2x	11.1x
Q4 25	2.1x	9.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$243M	$15M
Q2 23	$278M	$2M
Q3 23	$347M	$128M
Q4 23	$389M	$183M
Q1 24	$248M	$117M
Q2 24	$476M	$299M
Q3 24	$433M	$284M
Q4 24	$435M	$279M
Q1 25	$364M	$232M
Q2 25	$495M	$310M
Q3 25	$507M	$339M
Q4 25	$477M	$291M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$228M
Q2 23	$276M
Q3 23	$219M
Q4 23	$207M
Q1 24	$131M
Q2 24	$177M
Q3 24	$149M
Q4 24	$157M
Q1 25	$132M
Q2 25	$185M
Q3 25	$169M
Q4 25	$186M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-2.8%	+1.0%
Q2 23	-3.7%	-0.5%
Q3 23	+2.6%	+3.0%
Q4 23	+6.8%	+9.0%
Q1 24	+8.6%	-0.3%
Q2 24	+4.7%	-6.4%
Q3 24	+0.5%	-6.8%
Q4 24	-3.2%	-16.4%
Q1 25	-7.6%	-12.9%
Q2 25	-5.9%	-10.1%
Q3 25	-0.8%	-10.0%
Q4 25	+15.7%	+12.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$13M	0.9%
Q3 23	$15M	1.1%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$10M	0.7%
Q3 24	$23M	1.6%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 23	$490M
Q2 23	$498M
Q3 23	$528M
Q4 23	$527M
Q1 24	$473M
Q2 24	$471M
Q3 24	$504M
Q1 25	$423M
Q2 25	$416M
Q3 25	$412M
Q4 25	$508M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$903M	$0	$903M
Q2 23	$697M	$0	$697M
Q3 23	$759M	$0	$759M
Q4 23	$775M	$0	$775M
Q1 24	$622M	$0	$622M
Q2 24	$792M	$0	$792M
Q3 24	$803M	$0	$803M
Q4 24	$699M	$0	$699M
Q1 25	$534M	$0	$534M
Q2 25	$1.3B	$0	$1.3B
Q3 25	$1.7B	$0	$1.7B
Q4 25	$1.6B	$0	$1.6B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	171M	-0.3%
Q2 23	171M	+0.2%
Q3 23	173M	+1.1%
Q4 23	172M	-0.8%
Q1 24	172M	+0.3%
Q2 24	173M	+0.4%
Q3 24	173M	-0.1%
Q4 24	173M	+0.0%
Q1 25	170M	-1.6%
Q2 25	168M	-1.4%
Q3 25	168M	+0.3%
Q4 25	168M	-0.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$960K	7K
FY 15	$988K	7K
FY 16	$617K	7K
FY 17	$613K	7K
FY 18	$193K	20K
FY 19	$194K	22K
FY 20	$195K	21K
FY 21	$206K	21K
FY 22	$289K	19K
FY 23	$343K	17K
FY 24	$341K	17K
FY 25	$342K	17K