Financials Millicom International Cellular S.A.

Equities

TIGO

LU0038705702

Wireless Telecommunications Services

Market Closed - Nasdaq 16:00:00 2024-04-26 EDT 5-day change 1st Jan Change
20.15 USD -0.64% Intraday chart for Millicom International Cellular S.A. +0.35% +11.94%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,878 3,925 2,851 2,158 3,091 3,452 - -
Enterprise Value (EV) 1 10,750 9,616 10,868 8,992 10,056 9,831 9,449 8,841
P/E ratio 32.6 x -11.4 x 4.87 x 9.94 x -37.5 x 13.3 x 8.76 x 7.71 x
Yield 2.07% - - - - - 1.62% -
Capitalization / Revenue 0.77 x 0.63 x 0.43 x 0.38 x 0.55 x 0.59 x 0.57 x 0.56 x
EV / Revenue 1.69 x 1.55 x 1.65 x 1.6 x 1.78 x 1.67 x 1.57 x 1.43 x
EV / EBITDA 4.17 x 3.87 x 4.16 x 4.04 x 4.76 x 4.12 x 3.79 x 3.45 x
EV / FCF 25.3 x 14.6 x 134 x 27.5 x 15.6 x 13.8 x 9.93 x 8.94 x
FCF Yield 3.95% 6.83% 0.75% 3.64% 6.41% 7.24% 10.1% 11.2%
Price to Book 2.02 x 1.91 x 1.1 x 0.6 x 0.88 x 0.95 x 0.86 x 0.87 x
Nbr of stocks (in thousands) 101,142 101,208 100,194 170,868 171,726 171,291 - -
Reference price 2 48.23 38.78 28.45 12.63 18.00 20.15 20.15 20.15
Announcement Date 20-02-25 21-02-11 22-02-11 23-02-10 24-02-27 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 6,345 6,206 6,572 5,624 5,661 5,882 6,024 6,184
EBITDA 1 2,576 2,487 2,615 2,228 2,111 2,388 2,496 2,561
EBIT 1 990 807 1,023 915 826 1,032 1,171 1,278
Operating Margin 15.6% 13% 15.57% 16.27% 14.59% 17.55% 19.43% 20.67%
Earnings before Tax (EBT) 1 464 -33 732 238 175 425 557.2 717.1
Net income 1 149 -348 590 177 -82 254.1 397.5 459.7
Net margin 2.35% -5.61% 8.98% 3.15% -1.45% 4.32% 6.6% 7.43%
EPS 2 1.480 -3.400 5.840 1.270 -0.4800 1.518 2.299 2.615
Free Cash Flow 1 425 657 81 327 645 711.7 951.5 989
FCF margin 6.7% 10.59% 1.23% 5.81% 11.39% 12.1% 15.79% 15.99%
FCF Conversion (EBITDA) 16.5% 26.42% 3.1% 14.68% 30.55% 29.8% 38.12% 38.61%
FCF Conversion (Net income) 285.23% - 13.73% 184.75% - 280.04% 239.39% 215.14%
Dividend per Share 2 1.000 - - - - - 0.3273 -
Announcement Date 20-02-25 21-02-11 22-02-11 23-02-10 24-02-27 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 1,634 1,687 1,408 1,447 1,388 1,381 1,369 1,393 1,424 1,475 1,448 1,463 1,474 1,513 1,506
EBITDA 1 650 647 564 577 539 548 507 515 533 557 577.5 589.5 598.1 616.9 599.1
EBIT 1 298 280 234 247 196 238 190 198 209 228 258.2 276.8 292.2 306.8 287.7
Operating Margin 18.24% 16.6% 16.62% 17.07% 14.12% 17.23% 13.88% 14.21% 14.68% 15.46% 17.83% 18.92% 19.82% 20.29% 19.1%
Earnings before Tax (EBT) 1 46 728 99 71 4 64 39 33 36 66 84.69 106.3 124.2 144.3 135.5
Net income 1 5 643 23 129 -32 57 3 -22 - -63 35 65 118 124 116.6
Net margin 0.31% 38.11% 1.63% 8.91% -2.31% 4.13% 0.22% -1.58% - -4.27% 2.42% 4.44% 8% 8.2% 7.74%
EPS 2 0.0500 6.410 0.2300 1.140 -0.1800 0.3300 0.0200 -0.1300 - -0.3700 0.5730 0.6278 0.5967 0.6474 0.6806
Dividend per Share 2 - - - - - - - - - - - 0.0811 - 0.0811 -
Announcement Date 21-10-28 22-02-11 22-04-28 22-07-28 22-10-27 23-02-10 23-04-27 23-07-27 23-10-26 24-02-27 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 5,872 5,691 8,017 6,834 6,965 6,380 5,998 5,390
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.28 x 2.288 x 3.066 x 3.067 x 3.299 x 2.671 x 2.403 x 2.104 x
Free Cash Flow 1 425 657 81 327 645 712 952 989
ROE (net income / shareholders' equity) 6.02% -15.6% 25.4% 5.72% -2.3% 7.4% 9.21% 11.1%
ROA (Net income/ Total Assets) 1.29% -2.75% 4.28% 1.21% -0.57% 1.71% 2.14% 3.26%
Assets 1 11,585 12,659 13,781 14,669 14,358 14,902 18,571 14,088
Book Value Per Share 2 23.80 20.30 25.80 21.10 20.60 21.20 23.50 23.10
Cash Flow per Share 2 15.70 8.110 9.450 - 7.080 9.820 10.30 11.10
Capex 1 907 824 875 957 947 882 968 976
Capex / Sales 14.29% 13.28% 13.31% 17.02% 16.73% 14.99% 16.07% 15.78%
Announcement Date 20-02-25 21-02-11 22-02-11 23-02-10 24-02-27 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
20.15 USD
Average target price
23.19 USD
Spread / Average Target
+15.10%
Consensus
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