Millicom International Cellular (TIGO) Operating Margin (2009 - 2026)
Millicom International Cellular's (TIGO) quarterly Operating Margin came in at 20.96% in Q1 2026, down 982.0% YoY from 2.38% in Q1 2025, and down 26.18% on a QoQ basis from 28.39% in Q4 2025.
Millicom International Cellular (TIGO) Operating Margin (2009 - 2026) Analysis & Trends
Millicom International Cellular (TIGO) has 14 years of Operating Margin data on file, last reported at 20.96% in Q1 2026.
- Quarterly Operating Margin fell 982.0% year-over-year to 20.96% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 25.38% (up 129.0% YoY) and the FY2025 annual result came in at 28.17%, up 504.0% from the prior year.
- Operating Margin eased to 20.96% in Q1 2026, from 28.39% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 30.77% in Q1 2025 to a low of 13.88% in Q1 2023.
- A 5-year average of 20.21% and a median of 20.96% in 2026 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2024 — Operating Margin surged 945 bps — and 2026, when it plunged 982 bps.
- Tracing TIGO's Operating Margin over 5 years: stood at 15.98% in 2022, then slipped by 11 bps to 14.26% in 2023, then soared by 59 bps to 22.72% in 2024, then advanced by 25 bps to 28.39% in 2025, then decreased by 26 bps to 20.96% in 2026.
- The last three Operating Margin figures came in at 20.96% (Q1 2026), 28.39% (Q4 2025), and 27.46% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Verizon Communications | 206.69 Bn | 204.94 Bn | 27.03 Bn | 20.96% |
| 2 | T-Mobile US | 199.86 Bn | 197.03 Bn | 17.74 Bn | 24.09% |
| 3 | Grupo Televisa, S.A.B | 192.34 Bn | 190.63 Bn | 318.12 Mn | 40.18% |
| 4 | At&T | 176.95 Bn | 159.38 Bn | 25.25 Bn | 22.30% |
| 5 | Chunghwa Telecom | 33.75 Bn | 31.18 Bn | 728.80 Mn | 21.61% |
| 6 | EchoStar | 25.44 Bn | 23.94 Bn | 1.65 Bn | 14.34% |
| 7 | Bce | 22.19 Bn | 22.19 Bn | - | - |
| 8 | Rogers Communications | 19.72 Bn | 18.47 Bn | 1.77 Bn | 39.73% |
| 9 | Telefonica Brasil | 18.58 Bn | 18.58 Bn | 1.32 Bn | 51.43% |
| 10 | Millicom International Cellular | 15.39 Bn | 14.41 Bn | - | 21.20% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 20.96% |
| Dec 31, 2025 | 28.39% |
| Sep 30, 2025 | 27.46% |
| Jun 30, 2025 | 26.02% |
| Mar 31, 2025 | 30.77% |
| Dec 31, 2024 | 22.72% |
| Sep 30, 2024 | 20.96% |
| Jun 30, 2024 | 23.66% |
| Mar 31, 2024 | 21.79% |
| Dec 31, 2023 | 14.26% |
| Sep 30, 2023 | 14.68% |
| Jun 30, 2023 | 14.21% |
| Mar 31, 2023 | 13.88% |
| Dec 31, 2022 | 15.98% |
| Sep 30, 2022 | 14.12% |
| Jun 30, 2022 | 17.07% |
| Mar 31, 2022 | 16.62% |
| Dec 31, 2021 | 13.84% |
| Sep 30, 2021 | 18.79% |
| Jun 30, 2021 | 12.39% |