Last 47 quarters of trend data · Communication Services · Telecommunications Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 11.28 | 34.91 | 28.82 | 9.24 | 10.46 | 2.32 | 6.66 | 34.83 | 22.95 | 13.61 | 9.47 | — | — | — | 270.29 | 9.50 | — | 45.47 | 35.07 | 1.82 | 298.27 |
| — | +1401.8% | +332.5% | -73.5% | -54.4% | -82.9% | -29.6% | — | — | — | -96.5% | — | — | — | +670.7% | +422.2% | — | — | +19.5% | — | — | |
| P/S Ratio | 2.54 | 1.75 | 1.58 | 1.41 | 1.44 | 1.14 | 0.94 | 0.76 | 0.82 | 0.73 | 0.59 | 0.52 | 0.47 | 0.47 | 0.59 | 0.39 | 0.35 | 0.28 | 0.57 | 0.93 | 1.48 |
| — | +52.8% | +68.9% | +86.4% | +75.6% | +57.2% | +59.8% | +44.3% | +74.1% | +55.4% | -0.8% | +33.7% | +33.8% | +65.6% | +3.1% | -57.9% | -76.3% | -82.6% | -53.6% | -18.9% | +55.7% | |
| P/B Ratio | 4.10 | 6.11 | 3.96 | 2.57 | 2.47 | 1.80 | 1.53 | 1.21 | 1.26 | 1.18 | 0.99 | 0.90 | 0.74 | 0.73 | 0.89 | 0.60 | 0.54 | 0.45 | 1.16 | 1.71 | 2.78 |
| — | +240.5% | +158.2% | +112.9% | +96.2% | +51.9% | +54.5% | +34.7% | +68.7% | +62.8% | +11.5% | +50.6% | +36.8% | +61.5% | -23.0% | -65.1% | -80.4% | -85.0% | -47.4% | -22.3% | +61.3% | |
| P/FCF | 12.51 | 30.96 | — | 55.44 | 6.02 | 1.85 | 5.54 | 3.87 | 4.12 | 3.55 | 18.15 | 4.23 | 5.23 | 326.30 | 53.89 | 2.17 | 6.10 | — | 11.05 | — | 17.28 |
| — | +1575.5% | — | +1330.9% | +46.2% | -47.9% | -69.5% | -8.5% | -21.2% | -98.9% | -66.3% | +95.1% | -14.4% | — | +387.8% | — | -64.7% | — | — | — | +38.7% | |
| EV / EBITDA | 7.77 | 6.51 | 6.73 | 5.12 | 5.27 | 4.94 | 4.62 | 3.87 | 4.75 | 4.31 | 4.17 | 4.52 | 4.53 | 4.70 | 5.03 | 4.09 | 4.16 | 3.79 | 4.89 | 6.87 | 8.16 |
| — | +31.8% | +45.9% | +32.5% | +11.1% | +14.7% | +10.7% | -14.5% | +4.8% | -8.3% | -17.1% | +10.6% | +8.9% | +23.8% | +3.0% | -40.5% | -49.0% | -56.9% | -34.1% | +1.2% | +25.4% | |
| EV / EBIT | 13.83 | 13.41 | 14.34 | 13.81 | 8.06 | 3.55 | 6.65 | 10.23 | 9.76 | 8.11 | 8.16 | 10.61 | 11.66 | 12.16 | 12.63 | 10.96 | 15.77 | 9.69 | 11.83 | 3.79 | 22.03 |
| — | +277.3% | +115.7% | +35.1% | -17.5% | -56.1% | -18.5% | -3.6% | -16.3% | -33.3% | -35.4% | -3.2% | -26.0% | +25.5% | +6.8% | +189.2% | -28.4% | — | -56.8% | -88.4% | -40.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 77.5% | 51.4% | 52.3% | 77.8% | 78.0% | 77.0% | 55.4% | 75.9% | 55.2% | 54.9% | 51.8% | 50.2% | 50.8% | 49.2% | 48.6% | 49.7% | 73.4% | 49.1% | 49.8% | 48.7% | 46.7% |
| — | -33.2% | -5.5% | +2.5% | +41.2% | +40.3% | +6.8% | +51.1% | +8.6% | +11.6% | +6.6% | +1.1% | -30.7% | +0.2% | -2.3% | +2.0% | +57.1% | +8.9% | +18.7% | +5.9% | +10.2% | |
| Operating Margin | 28.2% | 22.5% | 19.6% | 28.4% | 27.5% | 26.0% | 24.6% | 26.2% | 20.0% | 22.6% | 20.0% | 14.5% | 13.8% | 13.4% | 12.9% | 16.2% | 14.1% | 16.2% | 16.1% | 13.1% | 10.2% |
| — | -13.6% | -20.3% | +8.4% | +37.4% | +15.3% | +22.8% | +80.5% | +45.2% | +68.1% | +55.9% | -10.6% | -2.5% | -17.3% | -20.3% | +24.1% | +37.9% | +108.4% | +173.0% | +49.7% | +59.2% | |
| Net Margin | 22.6% | 5.0% | 5.5% | 15.3% | 13.7% | 49.3% | 14.0% | 2.2% | 3.6% | 5.3% | 6.2% | -4.3% | -0.1% | -1.6% | 0.2% | 4.1% | -2.2% | 0.6% | 1.6% | 51.2% | 0.5% |
| — | -89.8% | -60.9% | +580.7% | +285.3% | +821.0% | +127.0% | +152.5% | +5176.8% | +438.7% | +2723.8% | -203.5% | +96.9% | -353.9% | -86.6% | -91.9% | -549.4% | +106.2% | -61.1% | +1095.4% | +110.0% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 36.6% | 3.8% | 3.2% | 7.3% | 5.7% | 19.7% | 5.6% | 0.9% | 1.4% | 2.2% | 2.6% | -1.8% | -0.0% | -0.6% | 0.1% | 1.6% | -0.9% | 0.3% | 0.8% | 26.3% | 0.2% |
| — | -80.5% | -42.4% | +729.6% | +311.1% | +798.3% | +110.6% | +149.0% | +5112.9% | +460.9% | +3103.4% | -213.3% | +96.8% | -317.6% | -90.1% | -94.0% | -470.1% | +106.2% | -55.3% | +1167.1% | +110.4% | |
| ROA | 8.5% | 0.5% | 0.6% | 1.5% | 1.3% | 4.7% | 1.4% | 0.2% | 0.4% | 0.5% | 0.6% | -0.4% | -0.0% | -0.2% | 0.0% | 0.4% | -0.2% | 0.1% | 0.2% | 4.8% | 0.0% |
| — | -88.8% | -59.3% | +566.6% | +253.2% | +763.1% | +121.0% | +152.9% | +5331.9% | +458.6% | +2935.2% | -208.2% | +96.8% | -349.8% | -86.2% | -91.7% | -598.2% | +107.1% | -56.3% | +1170.8% | +110.7% | |
| ROIC | 11.6% | 2.7% | 2.3% | 3.3% | 2.9% | 2.7% | 2.6% | 2.8% | 2.1% | 2.4% | 2.1% | 1.5% | 1.4% | 1.3% | 1.3% | 1.6% | 1.4% | 1.7% | 1.6% | 1.3% | 1.0% |
| — | +1.3% | -10.4% | +15.4% | +38.2% | +12.6% | +21.5% | +85.0% | +51.5% | +79.5% | +69.6% | -4.4% | +0.5% | -20.1% | -21.3% | +19.7% | +37.1% | +122.9% | +191.4% | +51.3% | +63.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.62 | 4.77 | 3.70 | 2.62 | 2.55 | 2.27 | 2.12 | 1.89 | 1.95 | 2.08 | 2.19 | 2.25 | 2.15 | 2.16 | 2.17 | 2.15 | 2.20 | 2.17 | 3.04 | 3.25 | 2.90 |
| — | +110.6% | +74.3% | +38.1% | +31.1% | +8.9% | -3.0% | -15.7% | -9.7% | -3.6% | +1.0% | +4.4% | -2.3% | -0.4% | -28.8% | -33.8% | -24.0% | -26.3% | +6.5% | +10.2% | -4.7% | |
| Debt / EBITDA | 3.24 | 11.79 | 13.70 | 11.29 | 11.96 | 12.12 | 11.21 | 10.07 | 12.38 | 11.79 | 12.16 | 13.92 | 14.52 | 15.07 | 15.53 | 14.30 | 14.67 | 13.69 | 15.06 | 19.29 | 17.72 |
| — | -2.7% | +22.2% | +12.1% | -3.4% | +2.8% | -7.8% | -27.6% | -14.8% | -21.8% | -21.7% | -2.6% | -1.0% | +10.1% | +3.1% | -25.9% | -17.2% | -26.4% | -15.0% | +14.7% | -4.7% | |
| Current Ratio | 0.88 | 0.53 | 0.61 | 0.88 | 0.92 | 0.89 | 0.76 | 0.76 | 0.97 | 0.97 | 0.86 | 0.82 | 0.87 | 0.84 | 0.93 | 0.97 | 1.03 | 0.95 | 0.73 | 0.50 | 0.82 |
| — | -40.1% | -19.7% | +15.0% | -4.6% | -8.0% | -11.4% | -7.1% | +11.2% | +15.2% | -7.9% | -15.5% | -15.3% | -12.0% | +28.0% | +94.1% | +25.3% | +11.2% | -11.0% | -43.3% | -27.6% | |
| Quick Ratio | 0.85 | 0.51 | 0.58 | 0.85 | 0.89 | 0.87 | 0.74 | 0.75 | 0.95 | 0.95 | 0.84 | 0.80 | 0.84 | 0.81 | 0.90 | 0.95 | 0.99 | 0.90 | 0.70 | 0.49 | 0.80 |
| — | -40.7% | -21.2% | +13.0% | -5.9% | -8.4% | -11.8% | -6.6% | +12.7% | +17.0% | -6.6% | -15.4% | -15.4% | -10.5% | +27.9% | +94.6% | +24.7% | +8.6% | -12.1% | -44.0% | -28.4% | |
| Interest Coverage | 2.19 | 1.68 | 1.62 | 1.60 | 2.67 | 5.35 | 2.69 | 1.53 | 1.63 | 1.76 | 1.77 | 1.30 | 1.14 | 1.12 | 1.19 | 1.39 | 0.89 | 1.36 | 1.63 | 6.44 | 1.12 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying TIGO stock.
Millicom International Cellular S.A.'s current P/E is 11.3x. The average P/E over the last 4 quarters is 20.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Millicom International Cellular S.A.'s current operating margin is 28.2%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Millicom International Cellular S.A.'s business trajectory between earnings reports.