Stock fact sheet · data as of
Millicom International Cellular S.A. (TIGO): fair value, margin of safety and Wheel Score
Communication Services · Telecommunications Services · Luxembourg · High Yield Income
Is TIGO undervalued?
Millicom International Cellular S.A. (TIGO) closed at 80.34 on 16 Oct 2026. The GLS average fair value - the simple average of the 9 valuation models that produced a positive number - is 162.47, which puts the price 51% below it. 6 of the 9 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
There is a wide gap between Graham Number (36.70) and Payback Time (364.24). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files TIGO under High Yield Income: a dividend yield above 4%.
Nine valuation models for TIGO
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 135.53 | +69% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 36.70 | -54% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 226.81 | +182% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 99.13 | +23% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 242.75 | +202% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 250.47 | +212% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 364.24 | +353% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 62.54 | -22% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 44.06 | -45% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -63.57 | -179% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 89.78 | +12% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Millicom International Cellular S.A. scores only 4 of 9 on the Piotroski F-score, which fails the Sunday Scan's "6 or more" rule. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. On durability TIGO scores 7.4/10 on the GLS Moat - a middle reading; the Scorecard on the Quote page's Financials tab shows which ten-year lines are steady and which are not.
Returns on capital are moderate - ROIC 10.0%, ROE 36.2%, ROA 7.6% - with debt at 2.60 times equity and a free-cash-flow yield of 11.5%. Debt of 2.60 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is high at 5.29% (payout ratio 138%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Service1 100% (fiscal year FY2025).
Institutional ownership scores 6/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 4 / 9 | ROIC | 10.0% |
|---|---|---|---|
| GLS Moat | 7.4 / 10 | ROE | 36.2% |
| Debt / equity | 2.60 | ROA | 7.6% |
| Free-cash-flow yield | 11.5% | Payout ratio | 138% |
| Institutions | 6 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 84: Prime
With a Wheel Score of 84, Millicom International Cellular S.A. sits in the Prime band - price, quality and premium all line up for the wheel strategy. The parts: Value 25/25, Health 9/20, Moat 11/15, Premium 20/20, Stability 19/20. A high score is a ranking, not a signal: it says nothing about timing, the earnings date or your position size.
Implied volatility is 53% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 11,798 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.3M shares a day on a market cap of $13.5B, with a beta of 0.90; the Stability part of the Wheel Score gives that 19 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 51% margin of safety | |
| Health | 9 / 20 | Piotroski 4/9 | |
| Moat | 11 / 15 | moat 7.4/10 | |
| Premium | 20 / 20 | implied volatility 53% | |
| Stability | 19 / 20 | 1.3M shares/day, $13.5B cap, beta 0.90 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 5 Nov 2026 (before the open), 20 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Telecommunications Services
The 12 companies below are the closest to Millicom International Cellular S.A. by market cap within the Telecommunications Services industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| ECHO EchoStar Corporation | 86.85 | - | - | 45Weak | $13.8B |
| SKM SK Telecom Co.,Ltd | 33.89 | 21,577.20 | +100% | 80Prime | $13.0B |
| TU TELUS Corporation | 8.11 | 27.13 | +70% | 45Weak | $12.8B |
| TLK Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk | 12.74 | 148,783.93 | +100% | 39No options | $12.6B |
| CHTR Charter Communications, Inc. | 109.99 | 735.49 | +85% | 82Prime | $14.8B |
| CCZ Comcast Holdings Corp. | 65.70 | 248.46 | +74% | 39No options | $16.3B |
| RCI Rogers Communications Inc. | 31.05 | 185.42 | +83% | 82Prime | $16.8B |
| GSAT Globalstar, Inc. | 82.97 | 47.18 | -76% | 37Weak | $10.7B |
| ASTS AST SpaceMobile, Inc. | 44.46 | - | - | 45Weak | $18.2B |
| BCE BCE Inc. | 20.18 | 72.34 | +72% | 81Prime | $18.8B |
| TMUSI T-Mobile USA Inc 5.5 % Notes 2025-01.06.70 | 17.92 | 79.16 | +77% | 37No options | $19.2B |
| VIV Telefônica Brasil S.A. | 12.32 | 38.52 | +68% | 89Prime | $19.7B |
⚖ Compare TIGO with 7 of them All Communication Services stocks →
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Start free See the Sunday ScanQuestions about TIGO
Is TIGO undervalued right now?
By the GLS models, yes: at 80.34 the stock is 51% below the average fair value of 162.47 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of TIGO and what does it mean?
TIGO scores 84 out of 100 (Prime). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for TIGO?
162.47 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Millicom International Cellular S.A. report earnings next?
The next earnings report is due on 5 Nov 2026 (before the open), 20 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does TIGO have listed options, and how liquid are they?
Yes. The nightly snapshot found 212 listed contracts with 11,798 open interest across all expiries and implied volatility of 53% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.