Millicom International Cellular (TIGO) Return on Capital Employed [ROCE] (2009 - 2026)
Millicom International Cellular (TIGO) posted Return on Capital Employed [ROCE] of 12.43% for Q3 2026, down 0.43 percentage points from 12.86% a year earlier but up 1.28 percentage points from the prior quarter.
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Analysis
Millicom International Cellular (TIGO) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, Millicom International Cellular's Return on Capital Employed [ROCE] came in at 13.54%, up 2.09 percentage points from FY2024.
- Annual Return on Capital Employed [ROCE] shows a five-year change of +9.54 percentage points (FY2020 to FY2025).
- In prior years, Millicom International Cellular's Return on Capital Employed [ROCE] was 11.45% in FY2024 (+4.58 pp), 6.87% in FY2023 (-0.42 pp) and 7.29% in FY2022.
- Quarterly Return on Capital Employed [ROCE] has run from a low of 6.06% in Q1 2022 to a high of 16.08% in Q4 2021 over five years.
- On a year-over-year basis, Return on Capital Employed [ROCE] has declined in each of the last three quarters, with an average year-over-year change of +1.76 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Return on Capital Employed [ROCE] in the past five years was Q4 2021, with a gain of 11.51 percentage points; the weakest was Q4 2022, with a drop of 8.49 percentage points.
- According to Business Quant data, Return on Capital Employed [ROCE] for the three prior quarters was 11.15% (Q2 2026), 11.65% (Q1 2026) and 12.53% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Verizon Communications | 192.19 Bn | 159.83 Bn | 27.05 Bn | 8.39% |
| 2 | T-Mobile US | 180.63 Bn | 163.07 Bn | 15.13 Bn | 10.24% |
| 3 | At&T | 149.48 Bn | 106.93 Bn | 26.22 Bn | 6.26% |
| 4 | Grupo Televisa, S.A.B | 138.76 Bn | 131.89 Bn | 960.50 Mn | 2.57% |
| 5 | Comcast | 89.06 Bn | 55.02 Bn | - | 7.98% |
| 6 | Chunghwa Telecom | 38.69 Bn | 31.18 Bn | 728.80 Mn | 2.44% |
| 7 | Vodafone Group Public | 37.39 Bn | 5.63 Bn | - | - |
| 8 | EchoStar | 29.07 Bn | 10.15 Bn | 647.20 Mn | 0.75% |
| 9 | Bce | 19.98 Bn | 18.22 Bn | 11.61 Bn | 32.40% |
| 10 | Millicom International Cellular | 13.41 Bn | 9.01 Bn | - | 12.43% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 12.43% |
| Jun 30, 2026 | 11.15% |
| Mar 31, 2026 | 11.65% |
| Dec 31, 2025 | 12.53% |
| Sep 30, 2025 | 12.86% |
| Jun 30, 2025 | 12.51% |
| Mar 31, 2025 | 12.62% |
| Dec 31, 2024 | 11.67% |
| Sep 30, 2024 | 9.90% |
| Jun 30, 2024 | 9.08% |
| Mar 31, 2024 | 7.93% |
| Dec 31, 2023 | 6.79% |
| Sep 30, 2023 | 6.80% |
| Jun 30, 2023 | 6.70% |
| Mar 31, 2023 | 7.11% |
| Dec 31, 2022 | 7.59% |
| Sep 30, 2022 | 7.14% |
| Jun 30, 2022 | 6.86% |
| Mar 31, 2022 | 6.06% |
| Dec 31, 2021 | 16.08% |
API Access
Millicom International Cellular Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=TIGO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=TIGO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();