Millicom International Cellular S.A. (TIGO) Fair Value 2026

TIGO · Telecom Services ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

8.0 /10

32 fundamental signals · 10 models active

Value Trap Risk

LOW (29/100)

Quick Summary — As of 2026-08-27, Millicom International Cellular S.A. (TIGO) trades at $93.22, versus a $104.78 median fair value across its 10 active models — 12.4% above the current price. QOC: 8.0/10. Value Trap Risk: 29/100 (LOW). 10/13 models active. Within that set, the Bayesian DCF component alone returns $254.47.

Key Facts

Ticker
TIGO
Price
$93.22
Quality Score
8.0/10
Value Trap Risk
29/100
Models Active
10/13
Last Updated
Strength: First Chicago suggests +191.0% upside with 49% confidence
Risk: Limited model coverage (10/13) may reduce confidence

Is Millicom International Cellular S.A. (TIGO) Undervalued or Overvalued in 2026?

According to CirclFi’s 10-model valuation engine, Millicom International Cellular S.A. (TIGO) appears undervalued as of : the median of 10 independent fair value estimates is $104.78, 12.4% above the current price of $93.22. Estimates range from $49.44 to $271.22. TIGO scores 8.0/10 on fundamental quality and 29/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -23.7% versus its own 13-model consensus, across 3,801 rated companies as of 2026-08-27. TIGO’s +12.4% gap is narrower than that market norm, and the Telecom Services sector median is +30.5%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy Millicom International Cellular S.A. Stock in 2026? →

What Fair Value Does Each Model Give TIGO?

10 Intrinsic Value Models vs. Current Price ($93.22)

Core Models (Unlocked)
Model Fair Value Upside
Intrinsic · High Conviction
 $254.47 +173.0%
Intrinsic · High Conviction
 $55.79 -40.2%
Ensemble · Low Conviction
 $119.02 +27.7%
Scenario · Medium Conviction
 $271.22 +191.0%
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What Is TIGO's Fair Value Range?

Spread across 10 independent models · $49.44 to $271.22

CirclFi's 10 active models place Millicom International Cellular S.A. (TIGO) between $49.44 and $271.22 per share, a spread of 212% of the median. The median of that range — $104.78 — is the fair value CirclFi publishes for TIGO, against a current price of $93.22.

Low · EROICHigh · First Chicago
$49.44median $104.78$271.22
Where the range comes from
Most bearish modelEROIC Spread$49.44
Most bullish modelFirst Chicago$271.22
Model agreement6 bullish · 3 bearishwide

A band this wide is itself the finding. When independent methods land far apart, they are reading a business whose value depends heavily on which lens you apply — volatile earnings, heavy reinvestment, or an asset base that cash-flow and asset-based methods score differently. That disagreement is information: it says the choice of method matters more than usual for TIGO. Treat the median as one reading among several and compare the individual models below before acting.

Every figure above is one model's standalone output on TIGO, not a CirclFi price target. How each model works →

What Is Millicom International Cellular S.A. (TIGO) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, Millicom International Cellular S.A.'s intrinsic value is estimated at a median fair value of $104.78. While the stock appears modestly undervalued at $93.22 (implied upside of +12.4%), our analysis suggests a thinner margin of safety across 6 of 10 bullish models. Notably, First Chicago sees the most upside at +191.0% (fair value: $271.22), while EROIC is the most conservative at -47.0% ($49.44). The spread between these extremes — +237.9% — reveals how different analytical frameworks can reach starkly different conclusions.

What Do the Models Say About TIGO?

10 of 13 models are currently active for TIGO. Of these, 7 models suggest upside while 3 models suggest overvaluation. Taken together, their median fair value for TIGO is $104.78 — the figure CirclFi publishes as this stock's fair value. One component of that median, the Bayesian DCF, returns $254.47 on its own, implying +173.0% upside from the current price. See which stocks rank higher →

How Does TIGO Rank in Telecom Services?

Among 55 Telecom Services stocks, TIGO ranks #11 by Quality of Company score. CirclFi's QOC score of 8.0/10 evaluates 32 fundamental signals. A score of 8.0 places TIGO in the top tier.

See all Most Undervalued Telecom Services Stocks →

Within the Telecom Services space, Millicom International Cellular S.A. competes in an environment where fiber/5G penetration often separates market leaders from laggards. Understanding these industry-specific dynamics is essential context for interpreting our model outputs.

Is TIGO a Value Trap?

CirclFi's Value Trap algorithm assigns TIGO a score of 29/100 (LOW). This indicates low risk. The financial profile does not exhibit typical value trap warning signs. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

10 of 13 models are active for Millicom International Cellular S.A.. Broad coverage provides high confidence. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi Quality of Company (QOC) framework, which evaluates 32 signals including margin stability, revenue growth trajectory, leverage, and free cash flow generation, Millicom International Cellular S.A. is rated at 8.0/10. This strong-tier score demonstrates strong fundamentals across the majority of our quality signals.

The gap between the most bullish and bearish model spans +237.9% — demonstrating why single-model analysis is dangerous. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every TIGO valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across TIGO's 10 active models, average confidence is 42%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy Millicom International Cellular S.A. Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar Telecom Services Stocks Should You Also Analyze?

11 related Telecom Services stocks with 13-model coverage

CHTChunghwa Telecom Co., Ltd.QOC 8.1VIVTelefônica Brasil S.A.QOC 7.8TAT&T Inc.QOC 8.1VZVerizon Communications Inc.QOC 7.7ATEXAnterix Inc.QOC 8.2SKMSK Telecom Co., Ltd.QOC 7.6GSATGlobalstar, Inc.QOC 6.9NUVRNuvera Communications, Inc.QOC 5.9RDCMRADCOM Ltd.QOC 3.0IRDMIridium Communications Inc.QOC 8.7IDTIDT CorporationQOC 8.6

Read investment analysis: CHT · VIV · T · VZ · ATEX · SKM · GSAT · NUVR · RDCM · IRDM · IDT

Which Other Stocks Have a Similar Quality Score to TIGO?

7 companies across all industries closest to TIGO’s Quality of Company score of 8.0/10.

IRTIndependence Realty Trust, Inc.QOC 8.0AMRZAmrize LtdQOC 8.0ZDZiff Davis, Inc.QOC 8.0CBANColony Bankcorp, Inc.QOC 8.0GRNDGrindr Inc.QOC 8.0FIEEFiEE, Inc.QOC 8.0NVDANVIDIA CorporationQOC 10.0

Read investment analysis: IRT · AMRZ · ZD · CBAN · GRND · FIEE · NVDA

Where Does TIGO Sit in CirclFi's Telecom Services Rankings?

TIGO is ranked against every other Telecom Services stock CirclFi covers in each of these screens.

See all Telecom Services stocks ranked →

What Else Do Investors Ask About Millicom International Cellular S.A.’s Valuation?

What is Millicom International Cellular S.A.'s intrinsic value in 2026?

CirclFi puts Millicom International Cellular S.A. (TIGO)'s intrinsic value at $104.78 — the median of 10 independent model estimates as of 2026-08-27, ranging from $49.44 to $271.22. One component of that median, the Bayesian DCF, runs 10,000 Monte Carlo simulations with jump-diffusion and returns $254.47 on its own. The Quality of Company score is 8.0/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is TIGO overvalued or undervalued right now?

At $93.22, 7 of 10 active models suggest TIGO may be undervalued, while 3 indicate potential overvaluation. The median of all 10 fair value estimates is $104.78, 12.4% above the current price of $93.22 — a consensus view that TIGO is undervalued. The assessment depends on which methodology best fits Millicom International Cellular S.A.'s business model in Telecom Services.

What does a Quality of Company score of 8.0 mean for TIGO?

Millicom International Cellular S.A.'s QOC of 8.0/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores above 7 indicate strong fundamentals and disciplined management.

How many valuation models does CirclFi run on TIGO?

CirclFi analyzes TIGO with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 10 of 13 are active for this stock. Read the full methodology →

Which valuation models are most bullish and most bearish on TIGO?

Of the 10 models currently active on TIGO, First Chicago is the most bullish at $271.22 per share, and EROIC Spread is the most bearish at $49.44. CirclFi's published fair value for TIGO is the median of that range, $104.78, not either extreme. The gap between the two ends equals 212% of the median — a wide spread, meaning the methods genuinely disagree and the median should carry less weight. Browse stocks by value-trap risk →

Is TIGO a value trap in 2026?

Millicom International Cellular S.A.'s Value Trap score is 29/100 (LOW). This low score indicates the current valuation is not artificially depressed by fundamental deterioration, suggesting genuine opportunity rather than a trap.

Cite this analysis — “According to CirclFi’s 10-model valuation engine, Millicom International Cellular S.A. (TIGO) has a median fair value of $104.78 — 12.4% above the current price of $93.22 — as of 2026-08-27.” Source: circlfi.com/stock/TIGO/ · Methodology
Primary sources for this TIGO valuation

Market data for TIGO as of ; valuations recomputed .

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