Tigo Valuation Multiples

Tigo Overview

About Tigo

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%), and Honduras (67% but not controlled or consolidated in the firm's financial statements). The firm’s wireless networks cover about 120 million people, serving 42 million customers. Its fixed-line networks reach 14 million homes, serving about 4 million broadband customers. Increasingly, Millicom offers converged packages that include broadband with wireless services. The firm has agreed to acquire Telefonica's operations in Ecuador and Uruguay.

Founded

1992

HQ

Employees

14.2K

Website

millicom.com

Sectors

Telecom Service Providers

Financials (LTM)

Revenue: $7B

EBITDA: $3B

EV

$22B

Valuation Multiples

Multiples.vc

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Tigo Financials

Tigo reported last 12-month revenue of $7B and EBITDA of $3B.

In the same LTM period, Tigo generated $5B in gross profit, $3B in EBITDA, and $1B in net income.

Tigo P&L

In the most recent fiscal year, Tigo reported revenue of $6B and EBITDA of $4B.

Tigo expects next 12-month revenue of XXX and NTM EBITDA of XXX

Tigo Stock Performance

Tigo has current market cap of $14B, and enterprise value of $22B.

Tigo's stock price is $81.38.

Tigo Valuation Multiples

Tigo trades at 3.3x EV/Revenue multiple, and 7.2x EV/EBITDA.

Tigo Financial Valuation Multiples

As of April 20, 2026, Tigo has market cap of $14B and EV of $22B.

Equity research analysts estimate Tigo's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Tigo has a P/E ratio of 11.8x.

Tigo Margins & Growth Rates

Tigo's revenue in the last 12 month grew by 27%.

Tigo's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.

Tigo's rule of 40 is 85% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Tigo's rule of X is 146% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Tigo Public Comps

See public comps and valuation multiples for other Telecom Service Providers comps.

Tigo M&A Activity

Tigo acquired XXX companies to date.

Last acquisition by Tigo was on XXXXXXXX, XXXXX. Tigo acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Tigo Investment Activity

Tigo invested in XXX companies to date.

Tigo made its latest investment on XXXXXXXX, XXXXX. Tigo invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).