MILLICOM INTERNATIONAL CELLULAR SA

EDGAR

Annual consolidated revenue for 2025: about USD 5.819B, using the latest reported figures. The previous period, 2024, was about USD 5.804B.

Watchlist

Latest fiscal year

Revenue

5.82 billion USD

2025 · USD

Exact inputs and evidence
  • Revenue: 5819000000 USD Source

Operating margin

28.17%

2025 · %

Exact inputs and evidence
  • Operating Income: 1639000000 USD Source
  • Revenue: 5819000000 USD Source

Operating cash flow

1.73 billion USD

2025 · USD

Exact inputs and evidence
  • Operating Cash Flow: 1734000000 USD Source

Free cash flow

1.08 billion USD

2025 · USD

Exact inputs and evidence
  • Operating Cash Flow: 1734000000 USD Source
  • Capital Expenditure: 650000000 USD Source
Cash and cash equivalents
1.55 billion USD Source
Exact value

1552000000 USD

Long-term debt including current maturities
Not available
Shares outstanding
Not available

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-08-06.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 10 of 11 periods available· newest 2025-12-31
  • Operating income: 10 of 11 periods available· newest 2025-12-31
  • Net income: 10 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 10 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 10 of 11 periods available· newest 2025-12-31
  • Total assets: 10 of 11 periods available· newest 2025-12-31
  • Total liabilities: 10 of 11 periods available· newest 2025-12-31
  • current assets: No compatible figures in this window
  • current liabilities: No compatible figures in this window
  • Cash and cash equivalents: 10 of 11 periods available· newest 2025-12-31
  • long term debt: No compatible figures in this window
  • shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +0.3%

    Prior period

    USD 5.8 billion

    –

    Current period

    USD 5.82 billion

    –

    Exact inputs and evidence

    5819000000 − 5804000000 = 15000000 USD

    5804000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    5819000000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +420.2%

    Prior period

    USD 253 million

    –

    Current period

    USD 1.32 billion

    –

    Exact inputs and evidence

    1316000000 − 253000000 = 1063000000 USD

    253000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1316000000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +8.2%

    Prior period

    USD 1.6 billion

    –

    Current period

    USD 1.73 billion

    –

    Exact inputs and evidence

    1734000000 − 1603000000 = 131000000 USD

    1603000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1734000000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    +20.4%

    Prior period

    USD 540 million

    –

    Current period

    USD 650 million

    –

    Exact inputs and evidence

    650000000 − 540000000 = 110000000 USD

    540000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    650000000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 5.82 billion 100% of revenue
  • Cost of revenue USD 1.31 billion 23% of revenue
  • Operating expenses USD 1.76 billion 30% of revenue
  • Other operating costs Derived USD 1.11 billion 19% of revenue
  • Operating income USD 1.64 billion 28% of revenue
  • Tax, interest and other Derived USD 323 million 5.6% of revenue
  • Net income USD 1.32 billion 23% of revenue

Cash

  • Operating cash flow USD 1.73 billion 30% of revenue
  • Capital expenditure USD 650 million 11% of revenue
  • Free cash flow Derived USD 1.08 billion 19% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 Net loss: net income was −0.8% of revenue.
  • 2017 14%84%
  • 2018 Net loss: net income was −0.3% of revenue.
  • 2019 9.8%87%
  • 2020 Net loss: net income was −9% of revenue.
  • 2021 14%85%
  • 2022 13%84%
  • 2023 Net loss: net income was −1.4% of revenue.
  • 2024 19%77%
  • 2025 23%72%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-314043000000 3553000000 Derived 490000000 522000000 Derived -32000000 159000000 Derived
Source
2017 2017-01-01 – 2017-12-313936000000 3304000000 Derived 632000000 545000000 Derived 87000000 170000000 Derived
Source
2018 2018-01-01 – 2018-12-313946000000 3306000000 Derived 640000000 650000000 Derived -10000000 160000000 Derived
Source
2019 2019-01-01 – 2019-12-314336000000 3761000000 Derived 575000000 426000000 Derived 149000000 65000000 Derived
Source
2020 2020-01-01 – 2020-12-313805000000 3403000000 Derived 402000000 746000000 Derived -344000000 199000000 Derived
Source
2021 2021-01-01 – 2021-12-314261000000 3642000000 Derived 619000000 29000000 Derived 590000000 216000000 Derived
Source
2022 2022-01-01 – 2022-12-315624000000 4709000000 Derived 915000000 738000000 Derived 177000000 484000000 Derived
Source
2023 2023-01-01 – 2023-12-315661000000 4835000000 Derived 826000000 908000000 Derived -82000000 409000000 Derived
Source
2024 2024-01-01 – 2024-12-315804000000 4462000000 Derived 1342000000 1089000000 Derived 253000000 1063000000 Derived
Source
2025 2025-01-01 – 2025-12-315819000000 4180000000 Derived 1639000000 323000000 Derived 1316000000 1084000000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 5.8B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.6.3B4.7B3.1B1.6B0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue4043000000
2017Revenue3936000000
2018Revenue3946000000
2019Revenue4336000000
2020Revenue3805000000
2021Revenue4261000000
2022Revenue5624000000
2023Revenue5661000000
2024Revenue5804000000
2025Revenue5819000000

Revenue growth

Change in revenue from the same financial period one year earlier.

0.3% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.36%23%10%-3%-16%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over yearNo prior comparable period
2017Year over year-2.6%
2018Year over year0.3%
2019Year over year9.9%
2020Year over year-12.2%
2021Year over year12%
2022Year over year32%
2023Year over year0.7%
2024Year over year2.5%
2025Year over year0.3%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 28.2% 2025
Net margin 22.6% 2025
Free cash flow margin 18.6% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.31%20%10%-1%-12%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin12.1%
2017Operating margin16.1%
2018Operating margin16.2%
2019Operating margin13.3%
2020Operating margin10.6%
2021Operating margin14.5%
2022Operating margin16.3%
2023Operating margin14.6%
2024Operating margin23.1%
2025Operating margin28.2%
2016Net margin-0.8%
2017Net margin2.2%
2018Net margin-0.3%
2019Net margin3.4%
2020Net margin-9%
2021Net margin13.8%
2022Net margin3.1%
2023Net margin-1.4%
2024Net margin4.4%
2025Net margin22.6%
2016Free cash flow margin3.9%
2017Free cash flow margin4.3%
2018Free cash flow margin4.1%
2019Free cash flow margin1.5%
2020Free cash flow margin5.2%
2021Free cash flow margin5.1%
2022Free cash flow margin8.6%
2023Free cash flow margin7.2%
2024Free cash flow margin18.3%
2025Free cash flow margin18.6%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 1.7B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.9B1.4B936.4M468.2M0.0201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow878000000
2017Operating cash flow820000000
2018Operating cash flow792000000
2019Operating cash flow801000000
2020Operating cash flow821000000
2021Operating cash flow956000000
2022Operating cash flow1284000000
2023Operating cash flow1223000000
2024Operating cash flow1603000000
2025Operating cash flow1734000000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 1.1B 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.2B878.0M585.4M292.7M0.0201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow159000000
2017Free cash flow170000000
2018Free cash flow160000000
2019Free cash flow65000000
2020Free cash flow199000000
2021Free cash flow216000000
2022Free cash flow484000000
2023Free cash flow409000000
2024Free cash flow1063000000
2025Free cash flow1084000000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

79% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.88%66%44%22%0%201620212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets65%
2017Liabilities / assets65.3%
2018Liabilities / assets72.9%
2019Liabilities / assets79.2%
2020Liabilities / assets81.7%
2021Liabilities / assets81.9%
2022Liabilities / assets74.4%
2023Liabilities / assets76.3%
2024Liabilities / assets74%
2025Liabilities / assets79%

Current assets to current liabilities

Current assets divided by current liabilities.

Not enough comparable data to show this history.
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016-12-31Current assets / current liabilitiesNot reportedNo source recorded
2017-12-31Current assets / current liabilitiesNot reportedNo source recorded
2018-12-31Current assets / current liabilitiesNot reportedNo source recorded
2019-12-31Current assets / current liabilitiesNot reportedNo source recorded
2020-12-31Current assets / current liabilitiesNot reportedNo source recorded
2021-12-31Current assets / current liabilitiesNot reportedNo source recorded
2022-12-31Current assets / current liabilitiesNot reportedNo source recorded
2023-12-31Current assets / current liabilitiesNot reportedNo source recorded
2024-12-31Current assets / current liabilitiesNot reportedNo source recorded
2025-12-31Current assets / current liabilitiesNot reportedNo source recorded

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
−USD 32 million
Exact value

Exact value: -32000000 USD

2016-01-01 – 2016-12-31: -32000000 USD Inspect Net Income Open source
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USD 878 million
Exact value

Exact value: 878000000 USD

2016-01-01 – 2016-12-31: 878000000 USD Inspect Operating Cash Flow Open source
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USD 719 million
Exact value

Exact value: 719000000 USD

2016-01-01 – 2016-12-31: 719000000 USD Inspect Capital Expenditure Open source
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USD 159 million
Calculation and evidence

878000000 − 719000000 USD

Exact free cash flow: 159000000 USD

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2017 2017-01-01 – 2017-12-31
USD 87 million
Exact value

Exact value: 87000000 USD

2017-01-01 – 2017-12-31: 87000000 USD Inspect Net Income Open source
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USD 820 million
Exact value

Exact value: 820000000 USD

2017-01-01 – 2017-12-31: 820000000 USD Inspect Operating Cash Flow Open source
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USD 650 million
Exact value

Exact value: 650000000 USD

2017-01-01 – 2017-12-31: 650000000 USD Inspect Capital Expenditure Open source
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USD 170 million
Calculation and evidence

820000000 − 650000000 USD

Exact free cash flow: 170000000 USD

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2018 2018-01-01 – 2018-12-31
−USD 10 million
Exact value

Exact value: -10000000 USD

2018-01-01 – 2018-12-31: -10000000 USD Inspect Net Income Open source
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USD 792 million
Exact value

Exact value: 792000000 USD

2018-01-01 – 2018-12-31: 792000000 USD Inspect Operating Cash Flow Open source
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USD 632 million
Exact value

Exact value: 632000000 USD

2018-01-01 – 2018-12-31: 632000000 USD Inspect Capital Expenditure Open source
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USD 160 million
Calculation and evidence

792000000 − 632000000 USD

Exact free cash flow: 160000000 USD

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2019 2019-01-01 – 2019-12-31
USD 149 million
Exact value

Exact value: 149000000 USD

2019-01-01 – 2019-12-31: 149000000 USD Inspect Net Income Open source
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USD 801 million
Exact value

Exact value: 801000000 USD

2019-01-01 – 2019-12-31: 801000000 USD Inspect Operating Cash Flow Open source
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USD 736 million
Exact value

Exact value: 736000000 USD

2019-01-01 – 2019-12-31: 736000000 USD Inspect Capital Expenditure Open source
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USD 65 million
Calculation and evidence

801000000 − 736000000 USD

Exact free cash flow: 65000000 USD

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2020 2020-01-01 – 2020-12-31
−USD 344 million
Exact value

Exact value: -344000000 USD

2020-01-01 – 2020-12-31: -344000000 USD Inspect Net Income Open source
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USD 821 million
Exact value

Exact value: 821000000 USD

2020-01-01 – 2020-12-31: 821000000 USD Inspect Operating Cash Flow Open source
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USD 622 million
Exact value

Exact value: 622000000 USD

2020-01-01 – 2020-12-31: 622000000 USD Inspect Capital Expenditure Open source
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USD 199 million
Calculation and evidence

821000000 − 622000000 USD

Exact free cash flow: 199000000 USD

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2021 2021-01-01 – 2021-12-31
USD 590 million
Exact value

Exact value: 590000000 USD

2021-01-01 – 2021-12-31: 590000000 USD Inspect Net Income Open source
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USD 956 million
Exact value

Exact value: 956000000 USD

2021-01-01 – 2021-12-31: 956000000 USD Inspect Operating Cash Flow Open source
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USD 740 million
Exact value

Exact value: 740000000 USD

2021-01-01 – 2021-12-31: 740000000 USD Inspect Capital Expenditure Open source
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USD 216 million
Calculation and evidence

956000000 − 740000000 USD

Exact free cash flow: 216000000 USD

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2022 2022-01-01 – 2022-12-31
USD 177 million
Exact value

Exact value: 177000000 USD

2022-01-01 – 2022-12-31: 177000000 USD Inspect Net Income Open source
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USD 1.28 billion
Exact value

Exact value: 1284000000 USD

2022-01-01 – 2022-12-31: 1284000000 USD Inspect Operating Cash Flow Open source
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USD 800 million
Exact value

Exact value: 800000000 USD

2022-01-01 – 2022-12-31: 800000000 USD Inspect Capital Expenditure Open source
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USD 484 million
Calculation and evidence

1284000000 − 800000000 USD

Exact free cash flow: 484000000 USD

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2023 2023-01-01 – 2023-12-31
−USD 82 million
Exact value

Exact value: -82000000 USD

2023-01-01 – 2023-12-31: -82000000 USD Inspect Net Income Open source
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USD 1.22 billion
Exact value

Exact value: 1223000000 USD

2023-01-01 – 2023-12-31: 1223000000 USD Inspect Operating Cash Flow Open source
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USD 814 million
Exact value

Exact value: 814000000 USD

2023-01-01 – 2023-12-31: 814000000 USD Inspect Capital Expenditure Open source
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USD 409 million
Calculation and evidence

1223000000 − 814000000 USD

Exact free cash flow: 409000000 USD

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2024 2024-01-01 – 2024-12-31
USD 253 million
Exact value

Exact value: 253000000 USD

2024-01-01 – 2024-12-31: 253000000 USD Inspect Net Income Open source
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USD 1.6 billion
Exact value

Exact value: 1603000000 USD

2024-01-01 – 2024-12-31: 1603000000 USD Inspect Operating Cash Flow Open source
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USD 540 million
Exact value

Exact value: 540000000 USD

2024-01-01 – 2024-12-31: 540000000 USD Inspect Capital Expenditure Open source
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USD 1.06 billion
Calculation and evidence

1603000000 − 540000000 USD

Exact free cash flow: 1063000000 USD

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2025 2025-01-01 – 2025-12-31
USD 1.32 billion
Exact value

Exact value: 1316000000 USD

2025-01-01 – 2025-12-31: 1316000000 USD Inspect Net Income Open source
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USD 1.73 billion
Exact value

Exact value: 1734000000 USD

2025-01-01 – 2025-12-31: 1734000000 USD Inspect Operating Cash Flow Open source
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USD 650 million
Exact value

Exact value: 650000000 USD

2025-01-01 – 2025-12-31: 650000000 USD Inspect Capital Expenditure Open source
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USD 1.08 billion
Calculation and evidence

1734000000 − 650000000 USD

Exact free cash flow: 1084000000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

276 filings · 669 latest values · 669 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0000912958, 912958, MLCMF, TIGO, edgar:912958

Also known as MILLICOM INTERNATIONAL CELLULAR SA, MILLICOM INTERNATIONAL CELLULAR SA