Millicom International Cellular (TIGO) Return on Invested Capital [ROIC] (2009 - 2026)
Millicom International Cellular (TIGO) posted Return on Invested Capital [ROIC] of 19.28% for Q3 2026, up 2.39 percentage points from 16.89% a year earlier and up 2.52 percentage points from the prior quarter.
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Analysis
Millicom International Cellular (TIGO) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Millicom International Cellular's Return on Invested Capital [ROIC] came in at 13.43%, up 6.73 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] shows a five-year change of +8.44 percentage points (FY2020 to FY2025).
- In prior years, Millicom International Cellular's Return on Invested Capital [ROIC] was 6.70% in FY2024 (+6.70 pp), 0.00% in FY2023 (-0.59 pp) and 0.59% in FY2022.
- The Q3 2026 figure stands as the highest quarterly Return on Invested Capital [ROIC] since Q4 2011.
- On a year-over-year basis, Return on Invested Capital [ROIC] increased in seven of the last eight quarters, with an average year-over-year change of +3.32 percentage points.
- The strongest year-over-year quarter for Return on Invested Capital [ROIC] in the past five years was Q2 2022, with a gain of 10.10 percentage points; the weakest was Q2 2023, with a drop of 2.05 percentage points.
- According to Business Quant data, Return on Invested Capital [ROIC] for the three prior quarters was 16.76% (Q2 2026), 15.43% (Q1 2026) and 16.61% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Verizon Communications | 192.19 Bn | 159.83 Bn | 27.05 Bn | 8.22% |
| 2 | T-Mobile US | 180.63 Bn | 163.07 Bn | 15.13 Bn | 10.51% |
| 3 | At&T | 149.48 Bn | 106.93 Bn | 26.22 Bn | 6.91% |
| 4 | Grupo Televisa, S.A.B | 138.76 Bn | 131.89 Bn | 960.50 Mn | 2.72% |
| 5 | Comcast | 89.06 Bn | 55.02 Bn | - | 7.84% |
| 6 | Chunghwa Telecom | 38.69 Bn | 31.18 Bn | 728.80 Mn | 10.75% |
| 7 | Vodafone Group Public | 37.39 Bn | 5.63 Bn | - | - |
| 8 | EchoStar | 29.07 Bn | 10.15 Bn | 647.20 Mn | 0.79% |
| 9 | Bce | 19.98 Bn | 18.22 Bn | 11.61 Bn | 34.10% |
| 10 | Millicom International Cellular | 13.41 Bn | 9.01 Bn | - | 19.28% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 19.28% |
| Jun 30, 2026 | 16.76% |
| Mar 31, 2026 | 15.43% |
| Dec 31, 2025 | 16.61% |
| Sep 30, 2025 | 16.89% |
| Jun 30, 2025 | 16.16% |
| Mar 31, 2025 | 15.72% |
| Dec 31, 2024 | 14.05% |
| Sep 30, 2024 | 12.32% |
| Jun 30, 2024 | 11.42% |
| Mar 31, 2024 | 9.67% |
| Dec 31, 2023 | 8.12% |
| Sep 30, 2023 | 8.27% |
| Jun 30, 2023 | 8.06% |
| Mar 31, 2023 | 8.41% |
| Dec 31, 2022 | 8.83% |
| Sep 30, 2022 | 8.51% |
| Jun 30, 2022 | 10.10% |
| Mar 31, 2022 | 8.71% |
| Dec 31, 2021 | 8.02% |
API Access
Millicom International Cellular Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=TIGO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=TIGO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();