MILLICOM INTERNATIONAL CELLULAR SA
boothcheck covers MILLICOM INTERNATIONAL CELLULAR SA (TIGO) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed July 11, 2026.
• Millicom is a Latin American mobile and cable operator, running Tigo networks across Guatemala, Colombia, Panama, Bolivia, Paraguay and neighboring markets, that has been rebuilt into a cash-return machine: full-year revenue barely moved, up 0.3% to $5.82 billion, while operating margin climbed from 16.3% in 2022 to 28.2% in 2025 and the company generated record equity free cash flow of $916 million [Source: Millicom 2025 annual report, March 24 2026]. • The headline profit overstates the run
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356 institutional managers reported holding TIGO in 13F filings for the quarter ended 2026-03-31. Together they hold about 39% of the company; the top 10 hold 18%. 78 opened new positions that quarter. Held by Dodge & Cox, BlackRock, State Street, among others. On the short side, 5.1M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (3.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
TIGO's share count grew 65.7% over the past five years. It pays a dividend, and has for 2 years running. Cash returned over the past three years: $1.22B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.