Millicom International Cellular S.A. (TIGO) Revenue History
Annual and quarterly revenue from 1993 to present
TIGO Revenue Over Time (1993–2025)
TIGO Revenue Growth History
26 of 32 years with positive growth- FY1993 revenue growth
- N/A
- FY1994 revenue growth
- +32.8%
- FY1995 revenue growth
- +61.4%
- FY1996 revenue growth
- +64.1%
- FY1997 revenue growth
- +61.1%
- FY1998 revenue growth
- +28.9%
- FY1999 revenue growth
- +23.3%
- FY2000 revenue growth
- +3.3%
- FY2001 revenue growth
- +12.9%
- FY2002 revenue growth
- -6.1%
- FY2003 revenue growth
- +6.9%
- FY2004 revenue growth
- +41.8%
- FY2005 revenue growth
- +0.6%
- FY2006 revenue growth
- +70.8%
- FY2007 revenue growth
- +66.9%
- FY2008 revenue growth
- +19.8%
- FY2009 revenue growth
- +7.1%
- FY2010 revenue growth
- +16.2%
- FY2011 revenue growth
- +15.5%
- FY2012 revenue growth
- +6.3%
- FY2013 revenue growth
- -8.8%
- FY2014 revenue growth
- +45.5%
- FY2015 revenue growth
- +2.9%
- FY2016 revenue growth
- -37.5%
- FY2017 revenue growth
- -0.7%
- FY2018 revenue growth
- -3.2%
- FY2019 revenue growth
- +9.9%
- FY2020 revenue growth
- -3.8%
- FY2021 revenue growth
- +2.2%
- FY2022 revenue growth
- +32.0%
- FY2023 revenue growth
- +0.7%
- FY2024 revenue growth
- +2.5%
- FY2025 revenue growth
- +0.3%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $1.98B | +44.5% |
| Q4 2025 | $1.65B | +15.7% |
| Q3 2025 | $1.42B | -0.8% |
| Q2 2025 | $1.37B | -5.9% |
| Q1 2025 | $1.37B | -7.6% |
| Q4 2024 | $1.43B | -3.2% |
| Q3 2024 | $1.43B | +0.5% |
| Q2 2024 | $1.46B | +4.7% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
TIGO's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
TIGO Revenue Analysis (1993–2025)
Current Revenue & Growth
As of June 22, 2026, Millicom International Cellular S.A. (TIGO) generated trailing twelve-month (TTM) revenue of $6.43 billion, reflecting explosive growth of +44.5% year-over-year. The most recent quarter (Q1 2026) recorded $1.98 billion in revenue, up 20.2% sequentially.
Historical Growth Trajectory
TIGO's 5-year compound annual growth rate (CAGR) stands at +6.9%, indicating steady revenue expansion. The 3-year CAGR of +1.1% is below the 5-year average, signalling a growth deceleration in recent years. Millicom International Cellular S.A.'s highest annual revenue of $6.57 billion was recorded in 2015.
Revenue by Segment
TIGO's revenue is primarily driven by Service1 (100%). With over half of revenue concentrated in Service1, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Communication Services sector peers — including AMX (+7.0% YoY), TKC (-2.5% YoY), and LILA (+0.0% YoY) — TIGO has outperformed the peer group in revenue growth. Compare TIGO vs AMX →
TIGO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TIGOCurrent | $6.4B | +44.5% | +6.9% | 28.2% | |
 AMX | $885.1B | +7.0% | +1.7% | 21.0% | |
 TKC | $6.1B | -2.5% | -38.5% | 17.0% | |
 LILA | $4.4B | +0.0% | +3.4% | 16.2% | |
 TEO | $8.33T | +87.4% | +56.5% | 10.3% | |
 VIV | $58.4B | +6.9% | +6.3% | 15.2% |
TIGO Historical Revenue Data (1993–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $5.82B | +0.3% | $4.51B | 77.5% | $1.64B | 28.2% |
| 2024 | $5.80B | +2.5% | $4.38B | 75.5% | $1.34B | 23.1% |
| 2023 | $5.66B | +0.7% | $2.20B | 38.9% | $773.0M | 13.7% |
| 2022 | $5.62B | +32.0% | $4.12B | 73.2% | $915.0M | 16.3% |
| 2021 | $4.26B | +2.2% | $1.48B | 34.6% | $404.0M | 9.5% |
| 2020 | $4.17B | -3.8% | $1.31B | 31.5% | $240.0M | 5.8% |
| 2019 | $4.34B | +9.9% | $1.54B | 35.5% | $430.0M | 9.9% |
| 2018 | $3.95B | -3.2% | $1.53B | 38.7% | $410.0M | 10.4% |
| 2017 | $4.08B | -0.7% | $1.58B | 38.7% | $436.0M | 10.7% |
| 2016 | $4.11B | -37.5% | $2.04B | 49.7% | $381.0M | 9.3% |
| 2015 | $6.57B | +2.9% | $3.50B | 53.2% | $882.0M | 13.4% |
| 2014 | $6.39B | +45.5% | $3.53B | 55.3% | $936.0M | 14.7% |
| 2013 | $4.39B | -8.8% | $2.52B | 57.5% | $631.0M | 14.4% |
| 2012 | $4.81B | +6.3% | $2.85B | 59.2% | $1.19B | 24.7% |
| 2011 | $4.53B | +15.5% | $2.78B | 61.3% | $1.32B | 29.2% |
Full Stock Analysis
Deep dive into TIGO consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
33+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
TIGO — Frequently Asked Questions
Quick answers to the most common questions about buying TIGO stock.
Is TIGO's revenue growth accelerating or slowing?
TIGO revenue growth is accelerating. TTM revenue reached $6.4B, up +44.5% year-over-year — ahead of the 5-year CAGR of +6.9%. This indicates the business is expanding faster than its historical baseline.
What is TIGO's revenue history from 1993 to 2026?
Millicom International Cellular S.A. (TIGO) revenue history spans 1993 to 2026. TTM revenue as of 2026 is $6.4B, growing at +44.5% YoY. The 5-year CAGR is +6.9%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is TIGO's long-term revenue growth rate (CAGR)?
Millicom International Cellular S.A.'s 5-year revenue CAGR of +6.9% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +44.5% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for TIGO.
Why does TIGO's quarterly revenue fluctuate?
TIGO quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Millicom International Cellular S.A.'s revenue data from 1993 to 2026 shows full historical quarterly detail on this page.
How is TIGO's revenue distributed by segment?
TIGO reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does TIGO's revenue compare to industry peers?
Millicom International Cellular S.A. (TIGO) with TTM revenue of $6.4B and +44.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.