Millicom International Cellular (TIGO) Net Margin (2009 - 2026)
Millicom International Cellular's Net Margin was 4.31% in Q3 2026, down 9.48 percentage points from 13.78% a year earlier and down 0.70 percentage points from the prior quarter.
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Analysis
Millicom International Cellular (TIGO) Net Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Millicom International Cellular's Net Margin was 7.02% through Sep 30, 2026, down 12.61 percentage points year-over-year; for FY2025, it came in at 22.62%, up 18.26 percentage points from FY2024.
- Net Margin shows a five-year change of +31.66 percentage points (FY2020 to FY2025).
- In earlier years, Net Margin was 4.36% in FY2024 (+5.81 pp), -1.45% in FY2023 (-4.60 pp), 3.15% in FY2022 (-10.70 pp) and 13.85% in FY2021 (+22.89 pp).
- The Q3 2026 figure marks the lowest quarterly Net Margin since Q4 2024.
- Compared with a year earlier, Net Margin has declined for three straight quarters, with an average year-over-year change of +2.40 percentage points over the last eight quarters.
- The best year-over-year quarter for Net Margin over five years was Q4 2021 (a gain of 53.35 percentage points); the worst was Q4 2022 (a drop of 47.15 percentage points).
- Per Business Quant data, TIGO's Net Margin in the three quarters before Q3 2026 was 5.00% (Q2 2026), 5.49% (Q1 2026) and 15.25% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Verizon Communications | 192.19 Bn | 159.83 Bn | 27.05 Bn | 15.15% |
| 2 | T-Mobile US | 180.63 Bn | 163.07 Bn | 15.13 Bn | 14.65% |
| 3 | At&T | 149.48 Bn | 106.93 Bn | 26.22 Bn | 2.65% |
| 4 | Grupo Televisa, S.A.B | 138.76 Bn | 131.89 Bn | 960.50 Mn | 10.07% |
| 5 | Comcast | 89.06 Bn | 55.02 Bn | - | 11.77% |
| 6 | Chunghwa Telecom | 38.69 Bn | 31.18 Bn | 728.80 Mn | 18.36% |
| 7 | Vodafone Group Public | 37.39 Bn | 5.63 Bn | - | - |
| 8 | EchoStar | 29.07 Bn | 10.15 Bn | 647.20 Mn | 246.74% |
| 9 | Bce | 19.98 Bn | 18.22 Bn | 11.61 Bn | 9.74% |
| 10 | Millicom International Cellular | 13.41 Bn | 9.01 Bn | - | 4.31% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.31% |
| Jun 30, 2026 | 5.00% |
| Mar 31, 2026 | 5.49% |
| Dec 31, 2025 | 15.25% |
| Sep 30, 2025 | 13.78% |
| Jun 30, 2025 | 49.45% |
| Mar 31, 2025 | 14.11% |
| Dec 31, 2024 | 2.17% |
| Sep 30, 2024 | 3.56% |
| Jun 30, 2024 | 5.35% |
| Mar 31, 2024 | 6.19% |
| Dec 31, 2023 | -4.27% |
| Jun 30, 2023 | -1.58% |
| Mar 31, 2023 | 0.22% |
| Dec 31, 2022 | 4.13% |
| Sep 30, 2022 | -2.31% |
| Jun 30, 2022 | 8.91% |
| Mar 31, 2022 | 1.63% |
| Dec 31, 2021 | 51.28% |
| Sep 30, 2021 | 0.50% |
API Access
Millicom International Cellular Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=TIGO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "TIGO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=TIGO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();