Millicom International Cellular (TIGO) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Millicom International Cellular had a P/E ratio of 7.04 (down from 16.83), return on equity of 37.9% (up from 7.7%), debt-to-equity of 2.62 (up from 1.91) and a current ratio of 0.88 (up from 0.77). A current ratio of 0.88 means current liabilities exceed current assets. Its dividend yield was 5.41% with a payout ratio of 57.3%.

Millicom International Cellular Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	7.04	16.83	-	12.19	4.83	-
Forward P/E	14.71	8.11	8.04	14.08	20.11	121.22
P/S Ratio	1.59	0.73	0.55	0.38	0.67	1.03
P/B Ratio	2.56	1.19	0.90	0.59	1.04	1.73
Price/FCF	8.54	4.01	7.56	4.46	13.20	19.72
Price/OCF	5.34	2.66	2.53	1.68	2.98	4.78
PEG Ratio	0.80	0.30	0.30	0.30	0.30	0.30
Enterprise Value Ratios
EV/Revenue	2.76	1.85	1.78	1.65	2.01	2.59
EV/EBITDA	6.31	4.51	4.58	4.17	5.63	7.45
EV/EBIT	10.62	7.95	11.70	10.48	20.92	47.89
EV/FCF	14.80	10.10	24.66	19.19	39.70	49.57
Profitability & Returns
Return on Equity (ROE)	37.87%	7.72%	-7.03%	0.50%	22.74%	-13.12%
Return on Assets (ROA)	6.09%	5.98%	3.75%	3.78%	1.86%	1.02%
Return on Invested Capital (ROIC)	11.62%	6.58%	-11.72%	0.56%	3.42%	2.48%
Return on Capital Employed (ROCE)	10.90%	12.70%	7.10%	7.30%	3.80%	2.10%
Leverage & Solvency Ratios
Debt/Equity	2.62	1.91	2.26	2.17	3.25	2.97
Debt/EBITDA	3.40	2.64	3.54	3.53	5.85	5.10
Debt/FCF	8.76	6.42	19.04	16.27	41.26	33.95
Liquidity Ratios
Current Ratio	0.88	0.77	0.82	0.97	0.50	0.89
Quick Ratio	0.74	0.44	0.65	0.77	0.34	0.66
Efficiency Ratios
Asset Turnover	0.38	0.41	0.39	0.38	0.31	0.30
Inventory Turnover	23.00	31.91	30.75	25.97	23.94	30.73
Yield & Distribution Ratios
Earnings Yield	14.21%	5.94%	-2.65%	8.20%	20.70%	-8.76%
FCF Yield	11.70%	24.96%	13.23%	22.43%	7.58%	5.07%
Dividend Yield	5.41%	7.00%	-	-	-	-
Payout Ratio	57.30%	-	-	-	-	-
Buyback Yield	2.64%	-0.68%	-22.70%	-38.13%	0.04%	-0.03%
Total Return	8.06%	6.32%	-22.70%	-38.13%	0.04%	-0.03%

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Millicom International Cellular Financial Ratios

What is Millicom International Cellular's P/E ratio?

Millicom International Cellular's P/E ratio was 7.04 for fiscal 2025 (period ended Dec 31, 2025). It was 16.83 a year earlier.

What is Millicom International Cellular's return on equity?

Millicom International Cellular's return on equity (ROE) was 37.9% for fiscal 2025 (period ended Dec 31, 2025). It was 7.7% a year earlier.

What is Millicom International Cellular's debt-to-equity ratio?

Millicom International Cellular's debt-to-equity ratio was 2.62 for fiscal 2025 (period ended Dec 31, 2025). It was 1.91 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition