What is Millicom Intl Cellular S A's earnings per share (EPS)?

Millicom Intl Cellular S A (TIGO) reported diluted earnings per share of $7.83 for fiscal year 2025. This represents a 429.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Millicom Intl Cellular S A Financials

TIGO

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Millicom Intl Cellular S A (TIGO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI TIGO FY2025 2026-04-22

A maturing cash engine is visible here: free cash flow improved sharply, but FY2025 added liquidity through a more leveraged balance sheet.

With revenue essentially flat into FY2025, net income still jumped from $268M to $1.4B. Because free cash flow stayed near $1.1B rather than stepping up in parallel, the profit surge appears less like a broad operating expansion and more like an earnings lift that did not fully change the company's underlying cash economics.

Cash conversion is the clearest operating improvement: FY2025 produced $1.7B of operating cash flow against only $650M of capex. The resulting free-cash-flow margin of 18.6% versus 5.1% in FY2021 suggests the business now carries much less reinvestment drag per dollar of revenue.

Balance-sheet posture became more aggressive in FY2025 even though cash rose to $1.6B. Debt-to-equity expanded from 0.2x to 0.6x, so the extra liquidity looks funded more by leverage while short-term obligations still run ahead of near-term assets.

Financial Health Signals

Financial Profile 43/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Millicom Intl Cellular S A's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Millicom Intl Cellular S A's revenue grew a modest 0.3% year-over-year to $5.8B. This slow but positive growth earns a score of 36/100.

Leverage

Millicom Intl Cellular S A carries a low D/E ratio of 0.63, meaning only $0.63 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Millicom Intl Cellular S A's current ratio of 0.88 is below the typical benchmark, resulting in a score of 12/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Millicom Intl Cellular S A converts 18.6% of revenue into free cash flow ($1.1B). This strong cash generation earns a score of 66/100.

Returns

Millicom Intl Cellular S A's ROE of 37.6% shows moderate profitability relative to equity, earning a score of 55/100. This is up from 7.5% the prior year.

Piotroski F-Score Neutral

6/9

Millicom Intl Cellular S A passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.27x

For every $1 of reported earnings, Millicom Intl Cellular S A generates $1.27 in operating cash flow ($1.7B OCF vs $1.4B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$5.8B

YoY+0.3%

5Y CAGR+8.9%

Millicom Intl Cellular S A generated $5.8B in revenue in fiscal year 2025. This represents an increase of 0.3% from the prior year.

EBITDA

N/A

Net Income

$1.4B

YoY+408.2%

Millicom Intl Cellular S A reported $1.4B in net income in fiscal year 2025. This represents an increase of 408.2% from the prior year.

EPS (Diluted)

$7.83

YoY+429.1%

Millicom Intl Cellular S A earned $7.83 per diluted share (EPS) in fiscal year 2025. This represents an increase of 429.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$1.1B

YoY+2.0%

5Y CAGR+40.4%

Millicom Intl Cellular S A generated $1.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 2.0% from the prior year.

Cash & Debt

$1.6B

YoY+122.0%

5Y CAGR+12.1%

Millicom Intl Cellular S A held $1.6B in cash against $2.3B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

169M

YoY-1.8%

5Y CAGR+10.7%

Millicom Intl Cellular S A had 169M shares outstanding in fiscal year 2025. This represents a decrease of 1.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

23.4%

YoY+18.8pp

5Y CAGR+33.5pp

Millicom Intl Cellular S A's net profit margin was 23.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 18.8 percentage points from the prior year.

Return on Equity

37.6%

YoY+30.1pp

5Y CAGR+54.5pp

Millicom Intl Cellular S A's ROE was 37.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 30.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$128.0M

YoY+77.8%

5Y CAGR+51.6%

Millicom Intl Cellular S A spent $128.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 77.8% from the prior year.

Capital Expenditures

$650.0M

YoY+20.4%

5Y CAGR+0.9%

Millicom Intl Cellular S A invested $650.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 20.4% from the prior year.

TIGO Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$5.8B+0.3%	$5.8B+2.5%	$5.7B+0.7%	$5.6B+32.0%	$4.3B+12.0%	$3.8B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$182.0M+49.2%	$122.0M+4.3%	$117.0M-5.6%	$124.0M+9.7%	$113.0M+0.9%	$112.0M
Income Tax	$303.0M+7.8%	$281.0M-33.7%	$424.0M+91.0%	$222.0M+40.5%	$158.0M+119.4%	$72.0M
Net Income	$1.4B+408.2%	$268.0M+209.4%	-$245.0M-289.9%	$129.0M-76.2%	$542.0M+240.8%	-$385.0M
EPS (Diluted)	$7.83+429.1%	$1.48+396.0%	$-0.50-208.7%	$0.46-90.4%	$4.79+317.7%	$-2.20

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TIGO Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$17.3B+25.6%	$13.7B-5.4%	$14.5B+2.2%	$14.2B-6.2%	$15.1B+21.9%	$12.4B
Current Assets	$3.0B+70.1%	$1.8B-8.5%	$1.9B-7.3%	$2.1B-8.3%	$2.3B-2.4%	$2.3B
Cash & Equivalents	$1.6B+122.0%	$699.0M-9.8%	$775.0M-25.4%	$1.0B+16.1%	$895.0M+2.3%	$875.0M
Inventory	$70.0M+59.1%	$44.0M-2.2%	$45.0M-15.1%	$53.0M-15.9%	$63.0M+70.3%	$37.0M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$4.3B+4.2%	$4.1B-0.3%	$4.1B+1.2%	$4.1B-1.0%	$4.1B+147.0%	$1.7B
Total Liabilities	$13.6B+34.1%	$10.2B-8.2%	$11.1B+4.8%	$10.6B-14.8%	$12.4B+22.2%	$10.1B
Current Liabilities	$3.4B+41.1%	$2.4B+3.2%	$2.3B+9.9%	$2.1B-52.8%	$4.5B+72.0%	$2.6B
Long-Term Debt	$2.3B+187.3%	$798.0M-6.6%	$854.0M+0.1%	$853.0M-14.4%	$996.0M+11.0%	$897.0M
Total Equity	$3.6B+1.3%	$3.6B+3.7%	$3.4B-5.2%	$3.6B+32.6%	$2.7B+20.5%	$2.3B
Retained Earnings	N/A	N/A	N/A	N/A	$2.0B-14.6%	$2.4B

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Total Assets	$17.3B+25.6%	$13.7B-5.4%	$14.5B+2.2%	$14.2B-6.2%	$15.1B+21.9%	$12.4B-3.7%	$12.9B+25.0%	$10.3B
Current Assets	$3.0B+70.1%	$1.8B-8.5%	$1.9B-7.3%	$2.1B-8.3%	$2.3B-2.4%	$2.3B-13.0%	$2.7B+73.9%	$1.5B
Cash & Equivalents	$1.6B+122.0%	$699.0M-9.8%	$775.0M-25.4%	$1.0B+16.1%	$895.0M+2.3%	$875.0M-24.8%	$1.2B+120.5%	$528.0M
Inventory	$70.0M+59.1%	$44.0M-2.2%	$45.0M-15.1%	$53.0M-15.9%	$63.0M+70.3%	$37.0M+15.6%	$32.0M-17.9%	$39.0M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$4.3B+4.2%	$4.1B-0.3%	$4.1B+1.2%	$4.1B-1.0%	$4.1B+147.0%	$1.7B-1.5%	$1.7B+57.5%	$1.1B
Total Liabilities	$13.6B+34.1%	$10.2B-8.2%	$11.1B+4.8%	$10.6B-14.8%	$12.4B+22.2%	$10.1B-0.7%	$10.2B+35.8%	$7.5B
Current Liabilities	$3.4B+41.1%	$2.4B+3.2%	$2.3B+9.9%	$2.1B-52.8%	$4.5B+72.0%	$2.6B+7.9%	$2.4B-9.7%	$2.7B
Long-Term Debt	$2.3B+187.3%	$798.0M-6.6%	$854.0M+0.1%	$853.0M-14.4%	$996.0M+11.0%	$897.0M-9.2%	$988.0M	$0
Total Equity	$3.6B+1.3%	$3.6B+3.7%	$3.4B-5.2%	$3.6B+32.6%	$2.7B+20.5%	$2.3B-15.1%	$2.7B-4.0%	$2.8B
Retained Earnings	N/A	N/A	N/A	N/A	$2.0B-14.6%	$2.4B+6.4%	$2.2B-12.3%	$2.5B

TIGO Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.7B+8.2%	$1.6B+31.1%	$1.2B-4.8%	$1.3B+34.3%	$956.0M+16.4%	$821.0M
Capital Expenditures	$650.0M+20.4%	$540.0M-33.7%	$814.0M+1.8%	$800.0M+8.1%	$740.0M+19.0%	$622.0M
Free Cash Flow	$1.1B+2.0%	$1.1B+159.9%	$409.0M-15.5%	$484.0M+124.1%	$216.0M+8.5%	$199.0M
Investing Cash Flow	-$374.0M+38.1%	-$604.0M+45.9%	-$1.1B-1.1%	-$1.1B+59.2%	-$2.7B-446.1%	-$495.0M
Financing Cash Flow	-$485.0M+54.5%	-$1.1B-182.8%	-$377.0M-37600.0%	-$1.0M-100.1%	$1.8B+397.2%	-$598.0M
Dividends Paid	$754.0M	$0	$0	$0	$0	$0
Share Buybacks	$128.0M+77.8%	$72.0M+620.0%	$10.0M+233.3%	$3.0M-94.4%	$54.0M+237.5%	$16.0M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TIGO Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	23.4%+18.8pp	4.6%+8.9pp	-4.3%-6.6pp	2.3%-10.4pp	12.7%+22.8pp	-10.1%
Return on Equity	37.6%+30.1pp	7.5%+14.6pp	-7.1%-10.7pp	3.5%-16.2pp	19.8%+36.7pp	-16.9%
Return on Assets	7.9%+5.9pp	1.9%+3.6pp	-1.7%-2.6pp	0.9%-2.7pp	3.6%+6.7pp	-3.1%
Current Ratio	0.88+0.1	0.73-0.1	0.82-0.2	0.97+0.5	0.50-0.4	0.88
Debt-to-Equity	0.63+0.4	0.22-0.0	0.25+0.0	0.23-0.1	0.36-0.0	0.39
FCF Margin	18.6%+0.3pp	18.3%+11.1pp	7.2%-1.4pp	8.6%+3.5pp	5.1%-0.2pp	5.2%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	0.88+0.1	0.73-0.1	0.82-0.2	0.97+0.5	0.50-0.4	0.88-0.2	1.10+0.5	0.57
Debt-to-Equity	0.63+0.4	0.22-0.0	0.25+0.0	0.23-0.1	0.36-0.0	0.39+0.0	0.37+0.4	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.88), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Millicom Intl Cellular S A's annual revenue?

Millicom Intl Cellular S A (TIGO) reported $5.8B in total revenue for fiscal year 2025. This represents a 0.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Millicom Intl Cellular S A's revenue growing?

Millicom Intl Cellular S A (TIGO) revenue grew by 0.3% year-over-year, from $5.8B to $5.8B in fiscal year 2025.

Is Millicom Intl Cellular S A profitable?

Yes, Millicom Intl Cellular S A (TIGO) reported a net income of $1.4B in fiscal year 2025, with a net profit margin of 23.4%.

How much debt does Millicom Intl Cellular S A have?

As of fiscal year 2025, Millicom Intl Cellular S A (TIGO) had $1.6B in cash and equivalents against $2.3B in long-term debt.

What is Millicom Intl Cellular S A's net profit margin?

Millicom Intl Cellular S A (TIGO) had a net profit margin of 23.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Millicom Intl Cellular S A's return on equity (ROE)?

Millicom Intl Cellular S A (TIGO) has a return on equity of 37.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Millicom Intl Cellular S A's free cash flow?

Millicom Intl Cellular S A (TIGO) generated $1.1B in free cash flow during fiscal year 2025. This represents a 2.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Millicom Intl Cellular S A's operating cash flow?

Millicom Intl Cellular S A (TIGO) generated $1.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Millicom Intl Cellular S A's total assets?

Millicom Intl Cellular S A (TIGO) had $17.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Millicom Intl Cellular S A's capital expenditures?

Millicom Intl Cellular S A (TIGO) invested $650.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Millicom Intl Cellular S A buy back shares?

Yes, Millicom Intl Cellular S A (TIGO) spent $128.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Millicom Intl Cellular S A have outstanding?

Millicom Intl Cellular S A (TIGO) had 169M shares outstanding as of fiscal year 2025.

What is Millicom Intl Cellular S A's current ratio?

Millicom Intl Cellular S A (TIGO) had a current ratio of 0.88 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Millicom Intl Cellular S A's debt-to-equity ratio?

Millicom Intl Cellular S A (TIGO) had a debt-to-equity ratio of 0.63 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Millicom Intl Cellular S A's return on assets (ROA)?

Millicom Intl Cellular S A (TIGO) had a return on assets of 7.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Millicom Intl Cellular S A's Piotroski F-Score?

Millicom Intl Cellular S A (TIGO) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Millicom Intl Cellular S A's earnings high quality?

Millicom Intl Cellular S A (TIGO) has an earnings quality ratio of 1.27x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Millicom Intl Cellular S A?

Millicom Intl Cellular S A (TIGO) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.