Millicom International Cellular (TIGO) Operating Margin (2009 - 2026)
Millicom International Cellular (TIGO) reported Operating Margin of 21.20% for Q2 2026, down 4.69 percentage points from 25.90% a year earlier but up 0.25 percentage points from the prior quarter.
Millicom International Cellular (TIGO) Operating Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Millicom International Cellular's Operating Margin came in at 24.00%, down 1.88 percentage points year-over-year; for FY2025, it was 25.34%, down 20.22 percentage points from FY2024.
- Operating Margin has a five-year change of +17.60 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at 45.57% in FY2024 (+25.84 pp), 19.73% in FY2023 (-1.83 pp), 21.56% in FY2022 (+0.97 pp) and 20.59% in FY2021 (+12.85 pp).
- Five-year quarterly Operating Margin spans a low of 13.88% in Q1 2023 and a high of 30.77% in Q1 2025.
- Year over year, Operating Margin gained in six of the last eight quarters, with an average year-over-year change of +2.80 percentage points.
- The high point for year-over-year Operating Margin in five years was Q4 2024 (a gain of 10.66 percentage points); the low point was Q1 2026 (a drop of 9.82 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 20.96% (Q1 2026), 28.39% (Q4 2025) and 27.46% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Verizon Communications | 190.87 Bn | 155.27 Bn | 27.03 Bn | 20.96% |
| 2 | T-Mobile US | 175.88 Bn | 160.63 Bn | 14.76 Bn | 24.09% |
| 3 | At&T | 166.65 Bn | 114.60 Bn | 25.82 Bn | 22.30% |
| 4 | Grupo Televisa, S.A.B | 142.49 Bn | 131.12 Bn | 318.12 Mn | 11.00% |
| 5 | Comcast | 76.29 Bn | 40.54 Bn | - | 17.23% |
| 6 | Chunghwa Telecom | 35.81 Bn | 31.66 Bn | 728.80 Mn | 21.61% |
| 7 | EchoStar | 27.35 Bn | 18.48 Bn | 1.65 Bn | 14.34% |
| 8 | AST SpaceMobile | 22.74 Bn | 23.25 Bn | 7.95 Mn | -1,018.86% |
| 9 | Telefonica Brasil | 18.42 Bn | 12.42 Bn | 1.42 Bn | 16.48% |
| 10 | Millicom International Cellular | 14.93 Bn | 7.24 Bn | - | 21.20% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.20% |
| Mar 31, 2026 | 20.96% |
| Dec 31, 2025 | 28.39% |
| Sep 30, 2025 | 27.46% |
| Jun 30, 2025 | 25.90% |
| Mar 31, 2025 | 30.77% |
| Dec 31, 2024 | 26.12% |
| Sep 30, 2024 | 20.96% |
| Jun 30, 2024 | 23.66% |
| Mar 31, 2024 | 21.79% |
| Dec 31, 2023 | 15.46% |
| Sep 30, 2023 | 14.68% |
| Jun 30, 2023 | 14.21% |
| Mar 31, 2023 | 13.88% |
| Sep 30, 2022 | 14.12% |
| Jun 30, 2022 | 17.07% |
| Mar 31, 2022 | 16.62% |
| Sep 30, 2021 | 18.79% |
| Jun 30, 2021 | 12.39% |
| Mar 31, 2021 | 10.31% |
Millicom International Cellular Operating 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=operating-margin&ticker=TIGO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=TIGO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();