Millicom International Cellular SA balance sheet TIGO

Annual Quarterly

As of Dec 31, 2025, Millicom International Cellular SA had total assets of $17.3 billion and total liabilities of $13.6 billion. Total assets were up 25.6% from a year earlier. Stockholders' equity was $3.6 billion. It held $1.6 billion in cash and investments against $9.7 billion of total debt, net debt of $8.1 billion.

USD in millions, except ratios and per-share amounts. The percent under a figure is the change from the year before.

FY 2025
Dec 31, 2025
FY 2024
Dec 31, 2024
FY 2023
Dec 31, 2023
FY 2022
Dec 31, 2022
FY 2021
Dec 31, 2021
FY 2020
Dec 31, 2020
FY 2019
Dec 31, 2019
FY 2018
Dec 31, 2018
Assets
Cash
1,552
+122.0%
699
-9.8%
775
-25.4%
1,039
+16.1%
895
+2.3%
875
-24.8%
1,164
+120.5%
528
Cash and investments
1,552
+122.0%
699
-9.8%
775
-25.4%
1,039
+16.1%
895
+2.3%
875
-24.8%
1,164
+120.5%
528
Inventory
70
+59.1%
44
-2.2%
45
-15.1%
53
-15.9%
63
+70.3%
37
+15.6%
32
-17.9%
39
Property and equipment, net
3,226
+13.3%
2,847
-8.4%
3,107
+3.9%
2,989
-11.6%
3,382
+22.8%
2,755
-5.0%
2,899
+4.9%
2,764
Goodwill
4,265
+4.2%
4,094
-0.3%
4,107
+1.2%
4,059
-1.0%
4,098
+147.0%
1,659
-1.5%
1,684
+57.5%
1,069
Total assets
17,253
+25.6%
13,737
-5.4%
14,516
+2.2%
14,198
-6.2%
15,141
+21.9%
12,422
-3.7%
12,895
+25.0%
10,313
Liabilities and equity
Accounts payable
491
+63.7%
300
-23.1%
390
-2.5%
400
+15.3%
347
+3.9%
334
+15.6%
289
+2.5%
282
Total liabilities
13,633
+34.1%
10,163
-8.2%
11,071
+4.8%
10,565
-14.8%
12,401
+22.2%
10,148
-0.7%
10,215
+35.8%
7,521
Stockholders' equity
3,621
+1.3%
3,574
+3.7%
3,445
-5.2%
3,634
+32.6%
2,740
+20.5%
2,274
-15.1%
2,680
-4.0%
2,792
Debt
Debt due within a year
518
+21.6%
426
+4.2%
409
+36.8%
299
-91.8%
3,668
+2032.6%
172
-29.2%
243
-67.4%
746
Long-term debt
6,556
+18.5%
5,533
-14.6%
6,476
-2.2%
6,624
+12.2%
5,904
+5.8%
5,578
-3.6%
5,786
+40.3%
4,123
Lease liabilities
2,587
+171.2%
954
-8.5%
1,043
+2.7%
1,016
-12.9%
1,167
+14.3%
1,021
-6.8%
1,096
—
Total debt
9,661
+39.8%
6,913
-12.8%
7,928
-0.1%
7,939
-26.1%
10,739
+58.6%
6,771
-5.0%
7,125
+46.3%
4,869
Net cash
-8,109
-30.5%
-6,214
+13.1%
-7,153
-3.7%
-6,900
+29.9%
-9,844
-67.0%
-5,896
+1.1%
-5,961
-37.3%
-4,341
Ratios
Debt to equity
2.67x
1.93x
2.30x
2.18x
3.92x
2.98x
2.66x
1.74x
Debt to EBITDA
—
—
—
3.51x
6.20x
4.45x
4.25x
3.37x
Return on equity
37.61%
7.50%
-7.11%
3.55%
19.78%
-16.93%
5.75%
-0.93%
Return on assets
7.89%
1.95%
-1.69%
0.91%
3.58%
-3.10%
1.19%
-0.25%
How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except ratios and per-share amounts. Cash and investments adds short-term and long-term marketable securities to cash. Debt due within a year is the borrowings that are not already in long-term debt. Total debt is those borrowings plus lease liabilities. Net cash is cash and investments minus total debt. Return on equity and return on assets divide the trailing twelve months of net income by the balance on that date. Debt to EBITDA uses the trailing twelve months of EBITDA. More on our methodology.

Company profile

Industry
Radiotelephone Communications (SIC 4812)
Listed as
TIGO (Nasdaq), MLCMF (OTC)
Fiscal year ends
December 31
Headquarters
Luxembourg, Luxembourg
SEC filer status
Large accelerated filer
SEC CIK
912958

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.