Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price94.26 USD
Fair value121.88
Ethical score70.0/100
Our investment reviews on this name
2026-07-02Read Markup93.77+0.5% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Millicom International Cellular SA holds its Accumulation at $94.26. The statistical read favours the buyers, held for 498 days.
As held on the ledger · 2026-09-18
Phase
Accumulation
Quantitative state
The statistical read favours the buyers, held for 498 days
Price at the screen
$94.26
Valuation
23.51 trailing · 13.37 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.90
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
54.89%
Below 33%
Interest-bearing debt is 54.9% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
12.05%
Below 49%
Money owed to the company is 12.1% of assets, under the 49% limit.
Pass
Revenue purity
0.48%
Below 5%
Only 0.5% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-18 screen. The gold marker is the market price at the same screen. A 29.3% margin of safety to the base estimate.
Third-party analyst targets: 8 covering, consensus None. The average target sits +3% from the screen price.
Reading the gap · Our model sees value the Street hasn't fully caught up to yet.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-18 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Latin American signals that reach beyond the cities
Picture a family in rural Guatemala topping up mobile credit or wiring money home through the same handset. Millicom builds those connections across Latin America, where traditional networks still leave gaps. The business is expanding revenue at 45 percent, posting a 19 percent profit margin and 37 percent return on equity, all while clearing the ethical screen with a narrow moat.
Those numbers explain the modest 7 percent gap between the current price near 98 dollars and our fair value of 105 dollars. Forward earnings sit at 13.7 times and the company converts growth into cash without needing heroic assumptions. Yet eight analysts rate the shares a hold with a median target of 92 dollars, suggesting the market sees limited upside from here.
Currency swings, regulatory shifts and competition from bigger regional players remain real threats in these markets. A narrow moat offers only partial protection if growth slows or margins compress. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Luxembourg and to currency swings; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
TIGO trades on NASDAQ (the company is based in Luxembourg). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-14Markup$95.91+0.3%Entry 5
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 0.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 45% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 171%. Our forward projection puts the odds of a 10% gain over the next month near 44%. The street (7 analysts) rates it none, with a mean price target of $83.
2026-08-14Markup$95.64+2.0%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 2.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 45% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 171%. Our forward projection puts the odds of a 10% gain over the next month near 44%. The street (7 analysts) rates it none, with a mean price target of $83.
2026-07-18Markup$93.77+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 45% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 171%. Our forward projection puts the odds of a 10% gain over the next month near 44%. The street (7 analysts) rates it none, with a mean price target of $83.
2026-07-03Markup$93.77+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$93.77Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
