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Millicom International Cellular SA TIGO

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Stock XNAS Rating as of
$20.16 −0.18 (0.89%)
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As of Delayed Price Closed
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Company Report

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Cost-Cutting and Pricing Discipline Should Drive Cash Flow at Millicom

Michael Hodel

Millicom is a collection of telecom businesses serving nine countries in Latin America. Economic and political challenges in certain markets, combined with a weak Colombian peso, have hindered recent financial results. However, we expect that continued smartphone and broadband adoption, attractive competitive dynamics in several countries, and cost-cutting efforts will allow the firm to generate solid cash flow in the coming years.

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Price vs Fair Value

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TIGO is trading at a 32% discount.
Price
$20.34
Fair Value
$92.00
Uncertainty
High
1-Star Price
$51.40
5-Star Price
$86.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Millicom holds strong wireless market share across nine Latin American countries with a combined population of 120 million people and owns high-quality cable networks that can provide broadband to 13 million homes and businesses in the region.

Bears

Millicom’s recent acquisitions have pushed its debt load much higher than historical levels. This debt amplifies the economic, political, and competitive risks the firm faces.

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News

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Trading Information

Previous Close Price
$20.34
Day Range
$20.07–20.24
52-Week Range
$14.46–20.81
Bid/Ask
$20.13 / $20.51
Market Cap
$3.45 Bil
Volume/Avg
40,695 / 88,438

Key Statistics

Price/Earnings (Normalized)
38.22
Price/Sales
0.61
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
0.15%

Company Profile

Millicom offers wireless and fixed-line telecom services primarily in smaller, less developed countries in Latin America. Countries served include Bolivia (100% owned), Nicaragua (100%), Panama (100%), El Salvador (100%), Guatemala (100%), Paraguay (100%), Colombia (50%), Costa Rica (100%), and Honduras (67% but not controlled or consolidated in the firm's financial statements). The firm’s fixed-line networks reach 13 million homes while its wireless networks cover about 120 million people. Increasingly, Millicom offers a converged package that may include fixed-line phone, broadband, and pay television in conjunction with wireless services. The firm plans to carve out its infrastructure assets and mobile financial services business in 2024.
Sector
Communication Services
Industry
Telecom Services
Stock Style Box
Small Value
Total Number of Employees
16,527
Website
https://www.millicom.com

Competitors

Valuation

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Metric
TIGO
AMX
Price/Earnings (Normalized)
 38.2212.97
Price/Book Value
 0.982.40
Price/Sales
 0.611.24
Price/Cash Flow
 2.574.83
Price/Earnings
TIGO
AMX

Financial Strength

Metric
TIGO
AMX
Quick Ratio
 0.690.58
Current Ratio
 0.820.68
Interest Coverage
 1.253.13
Quick Ratio
TIGO
AMX

Profitability

Metric
TIGO
AMX
Return on Assets (Normalized)
 −1.50%5.48%
Return on Equity (Normalized)
 −6.01%24.26%
Return on Invested Capital (Normalized)
 1.83%12.76%
Return on Assets
TIGO
AMX
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