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Tigo Valuation Multiples

Discover revenue and EBITDA valuation multiples for Tigo and similar public comparables like KPN, Jordan Telecom, and Space42.

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 sell the majority of its wireless towers to SBA Communications for $975 million.


Founded

1992

HQ

United States of America
Employees

14.2K+

Website

millicom.com

Financials

LTM Revenue $5.7B

LTM EBITDA $2.5B

EV

$12.8B

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Tigo Financials

Tigo has a last 12-month revenue (LTM) of $5.7B and a last 12-month EBITDA of $2.5B.

In the most recent fiscal year, Tigo achieved revenue of $5.8B and an EBITDA of $2.4B.

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

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Tigo P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $5.7B XXX $5.8B XXX XXX XXX
Gross Profit $4.3B XXX $4.4B XXX XXX XXX
Gross Margin 76% XXX 76% XXX XXX XXX
EBITDA $2.5B XXX $2.4B XXX XXX XXX
EBITDA Margin 44% XXX 41% XXX XXX XXX
EBIT $1.4B XXX $1.3B XXX XXX XXX
EBIT Margin 24% XXX 22% XXX XXX XXX
Net Profit $344M XXX $253M XXX XXX XXX
Net Margin 6% XXX 4% XXX XXX XXX
Net Debt XXX XXX $5.1B XXX XXX XXX

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Tigo Stock Performance

As of May 30, 2025, Tigo's stock price is $38.

Tigo has current market cap of $6.3B, and EV of $12.8B.

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Tigo Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$12.8B $6.3B XXX XXX XXX XXX $2.63

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Tigo Valuation Multiples

As of May 30, 2025, Tigo has market cap of $6.3B and EV of $12.8B.

Tigo's trades at 2.2x EV/Revenue multiple, and 5.4x EV/EBITDA.

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 18.2x.

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Tigo Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $6.3B XXX $6.3B XXX XXX XXX
EV (current) $12.8B XXX $12.8B XXX XXX XXX
EV/Revenue 2.2x XXX 2.2x XXX XXX XXX
EV/EBITDA 5.1x XXX 5.4x XXX XXX XXX
EV/EBIT 9.5x XXX 10.1x XXX XXX XXX
EV/Gross Profit 3.0x XXX n/a XXX XXX XXX
P/E 18.2x XXX 24.7x XXX XXX XXX
EV/FCF 15.5x XXX 15.4x XXX XXX XXX

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Tigo Margins & Growth Rates

Tigo's last 12 month revenue growth is -1%

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 36% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Tigo's rule of X is 42% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Tigo Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth -1% XXX -1% XXX XXX XXX
EBITDA Margin 44% XXX 41% XXX XXX XXX
EBITDA Growth 2% XXX 10% XXX XXX XXX
Rule of 40 36% XXX 40% XXX XXX XXX
Bessemer Rule of X XXX XXX 42% XXX XXX XXX
Revenue per Employee XXX XXX $0.4M XXX XXX XXX
Opex per Employee XXX XXX $0.2M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 9% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 54% XXX XXX XXX

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Tigo Public Comps

See public comps and valuation multiples for Telecom Service Providers and Internet Service Providers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
XXX XXX XXX XXX XXX XXX
e& XXX XXX XXX XXX XXX XXX
Space42 XXX XXX XXX XXX XXX XXX
Jordan Telecom XXX XXX XXX XXX XXX XXX
KPN XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Tigo M&A and Investment Activity

Tigo acquired  XXX companies to date.

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

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Latest Acquisitions by Tigo

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Tigo

When was Tigo founded? Tigo was founded in 1992.
Where is Tigo headquartered? Tigo is headquartered in United States of America.
How many employees does Tigo have? As of today, Tigo has 14.2K+ employees.
Who is the CEO of Tigo? Tigo's CEO is Mr. Marcelo Benitez.
Is Tigo publicy listed? Yes, Tigo is a public company listed on NAS.
What is the stock symbol of Tigo? Tigo trades under TIGO ticker.
When did Tigo go public? Tigo went public in 2003.
Who are competitors of Tigo? Similar companies to Tigo include e.g. , e&, Space42, Jordan Telecom.
What is the current market cap of Tigo? Tigo's current market cap is $6.3B
What is the current revenue of Tigo? Tigo's last 12 months revenue is $5.7B.
What is the current revenue growth of Tigo? Tigo revenue growth (NTM/LTM) is -1%.
What is the current EV/Revenue multiple of Tigo? Current revenue multiple of Tigo is 2.2x.
Is Tigo profitable? Yes, Tigo is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Tigo? Tigo's last 12 months EBITDA is $2.5B.
What is Tigo's EBITDA margin? Tigo's last 12 months EBITDA margin is 44%.
What is the current EV/EBITDA multiple of Tigo? Current EBITDA multiple of Tigo is 5.1x.
What is the current FCF of Tigo? Tigo's last 12 months FCF is $827M.
What is Tigo's FCF margin? Tigo's last 12 months FCF margin is 14%.
What is the current EV/FCF multiple of Tigo? Current FCF multiple of Tigo is 15.5x.

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