Millicom International Cellular (TIGO) Operating Margin (2009 - 2026)
Millicom International Cellular (TIGO) reported Operating Margin of 26.36% for Q3 2026, down 1.06 percentage points from 27.42% a year earlier but up 5.16 percentage points from the prior quarter.
Millicom International Cellular (TIGO) Operating Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Millicom International Cellular's Operating Margin came in at 24.06%, down 3.48 percentage points year-over-year; for FY2025, it was 28.17%, up 5.04 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 23.12% in FY2024 (+8.53 pp), 14.59% in FY2023 (-1.68 pp), 16.27% in FY2022 (+1.74 pp) and 14.53% in FY2021 (+3.96 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 has now declined in each of the last three quarters, with an average year-over-year change of +1.88 percentage points over the last eight quarters.
- The high point for year-over-year Operating Margin in five years was Q4 2021 (a gain of 11.63 percentage points); the low point was Q1 2026 (a drop of 9.82 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 21.20% (Q2 2026), 20.96% (Q1 2026) and 28.39% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Verizon Communications | 192.19 Bn | 159.83 Bn | 27.05 Bn | 25.21% |
| 2 | T-Mobile US | 180.63 Bn | 163.07 Bn | 15.13 Bn | 24.00% |
| 3 | At&T | 149.48 Bn | 106.93 Bn | 26.22 Bn | 12.67% |
| 4 | Grupo Televisa, S.A.B | 138.76 Bn | 131.89 Bn | 960.50 Mn | 4.84% |
| 5 | Comcast | 89.06 Bn | 55.02 Bn | - | 18.16% |
| 6 | Chunghwa Telecom | 38.69 Bn | 31.18 Bn | 728.80 Mn | 21.61% |
| 7 | Vodafone Group Public | 37.39 Bn | 5.63 Bn | - | - |
| 8 | EchoStar | 29.07 Bn | 10.15 Bn | 647.20 Mn | 13.10% |
| 9 | Bce | 19.98 Bn | 18.22 Bn | 11.61 Bn | 51.26% |
| 10 | Millicom International Cellular | 13.41 Bn | 9.01 Bn | - | 26.36% |
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 26.36% |
| Jun 30, 2026 | 21.20% |
| Mar 31, 2026 | 20.96% |
| Dec 31, 2025 | 28.39% |
| Sep 30, 2025 | 27.42% |
| 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% |
| Dec 31, 2022 | 17.23% |
| Sep 30, 2022 | 14.12% |
| Jun 30, 2022 | 17.07% |
| Mar 31, 2022 | 16.62% |
| Dec 31, 2021 | 16.19% |
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();