Millicom International Cellular S.A. (TIGO)

Nasdaq: TIGO · Radiotelephone Communications · Luxembourg, LU · filing with the SEC since 1997

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Grade5.2

◀ Past 4.8● Present 6.6▶ Future 4.4

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Millicom International Cellular S.A.

Nine metrics read from its own filings, by tense

Headline grade

5.2/10

◀ Past4.825% of the headline

● Present6.635% of the headline

▶ Future4.440% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

4.8/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed

6.5/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 22% of this tense · 65th percentile among 13 sector filers · read for itself

From the record

Millicom International Cellular S.A.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

5.7/10

What has it actually done, year after year?

+4.1% a year over 10 filed years; profitable in 6 of 10.

weight 45% of this tense · 57th percentile among 13 sector filers · read for its customers

From the record

Millicom International Cellular S.A.'s 10 filed years say what it did: revenue went from $4.0 billion in fiscal 2016 to $5.8 billion in fiscal 2025, up 4.1% a year; it rose in 7 of 9 years; the deepest fall was 12% from fiscal 2019 to fiscal 2020; net income was positive in 6 of 10 of those years (its annual reports).

What it rests on

revenue growth over the filed span4.1%top 50% of its family
the share of years revenue rosetop 27% of its family
the share of filed years with a profitbottom 46% of its family
the deepest fall from a revenue peak12.2%top 42% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

2.4/10

How has it treated the people who own it?

Share count grew 6.3% a year. 5% of cash flow returned. Insiders: 7 sales, 0 purchases.

weight 33% of this tense · 24th percentile among 10 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Millicom International Cellular S.A.'s diluted share count grew about 6.3% a year, and dividends and buybacks returned about 5% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 7 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearsbottom 13% of its family
cash returned against operating cash flowbottom 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.6/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

6.7/10

Is it financially healthy right now?

ROE 38%: 38¢ of profit per shareholder dollar. Leverage 79%: owes 79¢ per asset dollar.

weight 45% of this tense · 67th percentile among 13 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Millicom International Cellular S.A. earned about 38 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 26 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 79 cents per dollar of assets, and net share issuance: its share count shrank 2.6% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 19% of its family
return on equitytop 4% of its family
gross profit against assetstop 28% of its family
the share count against the year beforetop 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

6.9/10

How strong is its position in its industry?

top 31% of 13 in its family; net margin 23.4%.

weight 33% of this tense · 69th percentile among 13 sector filers · read for its customers

From the record

Millicom International Cellular S.A.'s standing among 13 graded names in its industry family: revenue of $5.8 billion in fiscal 2025 ranks in the top 17% by size; a net margin of 23.4% ranks in the top 12%; revenue growth of 1.1% a year over the last 3 filed years ranks in the bottom 35% (its annual reports).

What it rests on

revenue against the family$5.82Btop 17% of its family
net margin23.4%top 12% of its family
three-year revenue growth1.1%bottom 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.8/10

What are the people in charge doing?

SI estimate 5.8/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 5 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 5 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 5 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Millicom International Cellular S.A.'s leadership is put at 5.8 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 5 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.4/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed

4.9/10

How much room does it have to grow?

bottom 49% of 12 in its family for room to expand.

weight 22% of this tense · 49th percentile among 12 sector filers · read for itself

From the record

Millicom International Cellular S.A.'s room to grow, from the newest filed statements (fiscal 2025): cash of $1.6 billion against debt of $6.9 billion leaves -30.9% of its assets as net cash, bottom 29% of its family; cash from operations less capital spending is 18.6% of revenue (bottom 46%); a gross margin of 77.5% (top 28%) (its annual report).

What it rests on

cash less debt against assets-30.9%bottom 29% of its family
cash from operations less capital spending against revenue18.6%bottom 46% of its family
gross margin77.5%top 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

2.7/10

What could actually drive growth from here?

bottom 27% of 13 in its family for growth drivers.

weight 45% of this tense · 27th percentile among 13 sector filers · read for its customers

From the record

Millicom International Cellular S.A.'s growth drivers, from the filed years to fiscal 2025: revenue grew 1.1% a year over the last three filed years against 4.1% over all 10, slowing (bottom 35% of its family); the newest year grew 0.3% (bottom 12%); capital spending grew -6.7% a year (bottom 35%) (its annual reports). Millicom International Cellular S.A. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-3.0 points a yearbottom 35% of its family
the newest year's revenue growth0.3%bottom 12% of its family
three-year growth of capital spending-6.7%bottom 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

6.3/10

Did its newest year beat what its own record pointed to?

top 37% of 12 in its family for expectations against reality.

weight 33% of this tense · 63rd percentile among 12 sector filers · read for its shareholders

From the record

Millicom International Cellular S.A.'s newest year against its own record: revenue of $5.8 billion in fiscal 2025 came in 1.3% below the $5.9 billion its prior three years' pace pointed to (bottom 21% of its family); net income of $1.4 billion against a prior three-year average of $51 million (top 4%); a net margin of 23.4% against 0.9% before (top 29%) (its annual reports).

What it rests on

revenue against the prior three years' pace-1.3%bottom 21% of its family
net income against the prior three years' averagefive times its prior average or moretop 4% of its family
net margin against its prior average+22.5 pointstop 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton TIGO · research, not advice