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Millicom International Cellular SA (TIGO)




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Upturn Advisory Summary
03/24/2025: TIGO (3-star) is a STRONG-BUY. BUY since 46 days. Profits (9.59%). Updated daily EoD!
Analysis of Past Performance
Type Stock | Historic Profit 39.74% | Avg. Invested days 53 | Today’s Advisory Strong Buy |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 5.06B USD | Price to earnings Ratio 20.3 | 1Y Target Price 35.11 |
Price to earnings Ratio 20.3 | 1Y Target Price 35.11 | ||
Volume (30-day avg) 874826 | Beta 1.23 | 52 Weeks Range 18.72 - 31.63 | Updated Date 04/1/2025 |
52 Weeks Range 18.72 - 31.63 | Updated Date 04/1/2025 | ||
Dividends yield (FY) 5.78% | Basic EPS (TTM) 1.48 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 4.36% | Operating Margin (TTM) 25.14% |
Management Effectiveness
Return on Assets (TTM) 5.7% | Return on Equity (TTM) 7.72% |
Valuation
Trailing PE 20.3 | Forward PE 11.79 | Enterprise Value 11262141440 | Price to Sales(TTM) 0.88 |
Enterprise Value 11262141440 | Price to Sales(TTM) 0.88 | ||
Enterprise Value to Revenue 1.92 | Enterprise Value to EBITDA 4.73 | Shares Outstanding 168248992 | Shares Floating 98061193 |
Shares Outstanding 168248992 | Shares Floating 98061193 | ||
Percent Insiders 40.71 | Percent Institutions 7.34 |
Analyst Ratings
Rating 4 | Target Price 33.46 | Buy 4 | Strong Buy 2 |
Buy 4 | Strong Buy 2 | ||
Hold 2 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Millicom International Cellular SA

Company Overview
History and Background
Millicom International Cellular SA, founded in 1990, has evolved from a global provider of cellular services to a leading telecommunications and media company focused on Latin America and Africa. It initially operated in various emerging markets and underwent strategic shifts to concentrate on Latin America.
Core Business Areas
- Mobile Services: Provides mobile voice, data, and value-added services to consumers and businesses. It includes 4G/LTE networks and mobile financial services.
- Fixed Services: Offers broadband internet, cable TV, and fixed voice services to residential and business customers. It includes fiber-to-the-home (FTTH) networks.
- Financial Services: Provides digital financial services such as mobile money, micro-insurance, and micro-lending.
- Business Services: Offers enterprise solutions, including connectivity, cloud services, and security solutions.
Leadership and Structure
The company is led by a CEO and a management team overseeing different regions and functions. The Board of Directors provides governance and strategic guidance.
Top Products and Market Share
Key Offerings
- Mobile Data: Provides internet access via mobile networks. Market share varies by country in Latin America. Competitors include America Movil (AMX) and Telefonica (TEF). Revenue from mobile data constitutes a significant portion of Millicom's total revenue, but the specific figure is not public. Number of Mobile users in Latin America 37 million.
- Broadband Internet: Delivers high-speed internet access via fixed networks. Competitors include Liberty Latin America (LILA) and local internet providers. Specific revenue from broadband internet is not public. Around 4 million broadband subscriptions.
- Tigo Money: A mobile money platform offering financial services. Competitors include other mobile money platforms and traditional banks. Specific data on revenue or market share of Tigo Money are not public. Number of Tigo Money users in Latin America are around 7 million.
Market Dynamics
Industry Overview
The telecommunications industry in Latin America is characterized by increasing demand for data services, growing smartphone penetration, and competition from established players and new entrants.
Positioning
Millicom is positioned as a leading provider of integrated telecommunications and media services in Latin America, focusing on providing affordable and reliable connectivity and digital services.
Total Addressable Market (TAM)
The TAM for telecommunications services in Latin America is substantial, estimated to be hundreds of billions of USD. Millicom captures a notable, though smaller, portion of the TAM, focusing on specific countries and customer segments.
Upturn SWOT Analysis
Strengths
- Strong brand recognition in Latin America
- Extensive network infrastructure
- Diversified product portfolio
- Experienced management team
- Focus on emerging markets with growth potential
Weaknesses
- Exposure to political and economic instability in Latin America
- High capital expenditure requirements
- Currency fluctuations
- Intense competition
- Relatively high debt levels
Opportunities
- Increasing demand for data services
- Growing smartphone penetration
- Expansion of 4G/5G networks
- Development of new digital services
- Strategic acquisitions
Threats
- Regulatory changes
- Economic downturns
- Technological disruption
- Increased competition
- Security breaches and cyberattacks
Competitors and Market Share
Key Competitors
- AMX
- TEF
- LILA
Competitive Landscape
Millicom competes with other telecommunications companies based on network coverage, service quality, pricing, and brand reputation. Millicom's focus on specific markets in Latin America provides a competitive advantage in those areas.
Major Acquisitions
Cable Onda
- Year: 2018
- Acquisition Price (USD millions): 1460
- Strategic Rationale: Expanded Millicom's presence in Panama and strengthened its cable and broadband business.
Growth Trajectory and Initiatives
Historical Growth: Millicom's historical growth has been driven by organic growth in its existing markets and strategic acquisitions.
Future Projections: Analyst estimates suggest continued growth in revenue and earnings, driven by increasing demand for data services and digital solutions.
Recent Initiatives: Recent initiatives include investments in 4G/5G networks, expansion of fixed services, and development of new digital services such as Tigo Money.
Summary
Millicom, with its strong brand in Latin America, is a major telecom player poised for further growth. Its focus on data services and digital solutions aligns with market trends. However, it faces challenges from economic instability and strong competition but is well-positioned due to its network infrastructure and strategic investments.
Similar Companies

AMX

America Movil SAB de CV ADR



AMX

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CMCSA

Comcast Corp



CMCSA

Comcast Corp

LILA

Liberty Latin America Ltd



LILA

Liberty Latin America Ltd

TEF

Telefonica SA ADR



TEF

Telefonica SA ADR

VZ

Verizon Communications Inc



VZ

Verizon Communications Inc
Sources and Disclaimers
Data Sources:
- Millicom Investor Relations
- SEC Filings
- Analyst Reports
- Industry Research
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market data is subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Millicom International Cellular SA
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 1994-02-28 | CEO - | ||
Sector Communication Services | Industry Telecom Services | Full time employees 14000 | Website https://www.millicom.com |
Full time employees 14000 | Website https://www.millicom.com |
Millicom International Cellular S.A. provides cable and mobile services in Latin America. It 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. The company also operates TIGO Sports for local entertainment; Tigo Money that allows its customers to send and receive money without the need for a bank account; and TIGO ONEtv for pay TV. In addition, it provides fixed services, including broadband and fixed voice; 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.
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