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Millicom International Cellular S.A. (TIGO)

USD95.74 -1.22 (-1.26%)
LU NASDAQ Communication Services Telecommunications Services
Address 148-150, Boulevard de la PEtrusse 2330
Luxembourg, LU
CEO Marcelo Benitez
IPO 2019-01-09
CIK 912958 ISIN LU0038705702

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Also trades on NASDAQ Global Market · TIGOR (USD) NASDAQ Global Select · TIGO (USD) Other OTC · MICCF (USD) Stockholm Stock Exchange · TIGO-SDB.ST (SEK)
Description

Millicom International Cellular S.A. engages in the provision cable and mobile services in Latin America. The company offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance. In addition, the company provides fixed services, including broadband, fixed voice, and pay-TV; and fixed-voice and data telecommunications services, managed services, cloud and security solutions, and value-added services; and tower infrastructure and services. The company serves small, medium, and large businesses, as well as residential consumers and governmental entities. It markets its products and services under the Tigo and Tigo Business brands. The company was founded in 1990 and is headquartered in Luxembourg, Luxembourg.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
USD95.74 -1.22 (-1.26%)
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Volume Profile
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Liquidity & share structure
Average Volume
2M
Beta
0.90
Float Shares
92.52M
Free Float %
55.2%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.39% +1.62% +1.37% +24.27% +62.25% +47.29% +133.05% +343.32% +79.95% +42.89% +363.19%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (11 ratings, all time) Buy
Price Targets & DCF
Current price
95.74
Low 43.00 -55.1%
Consensus 64.25 -32.9%
Median 62.50 -34.7%
High 89.00 -7.0%
DCF (Unlevered) 239.15 +149.8%
DCF (Levered) 312.93 +226.9%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 56% Bullish
Rating 2026-05 Change
Strong Buy 2 0
Buy 3 0
Hold 3 0
Sell 0 0
Strong Sell 1 0
Price Target Summary
Period # Analysts Avg Target
Last Month
Last Quarter 2
72.00
-24.8%
Last Year 5
59.30
-38.1%
All Time 8
49.60
-48.2%
Quality scores
Altman Z-Score
1.19
Distress
Piotroski F-Score
5 / 9
Average
MOAT Score
6 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
3 / 5
Medium
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
1 / 5
Low
P/E Score
3 / 5
Medium
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Telecommunications Services: +7.0%
    +0.3% Q1'26: +44.5% (vs Q1'25)
  • EPS growth Telecommunications Services: +15.8%
    +432.7% Q1'26: -42.8% (vs Q1'25)
  • FCF margin FCF growth · Telecommunications Services: +29.4%
    +29.7% Q1'26: +22.6% (vs Q1'25)
  • EBIT margin Telecommunications Services: +14.7%
    +26.4% Q1'26: +19.6% (vs Q1'25)
  • ROIC Telecommunications Services: +6.4%
    +11.0% Q1'26: +6.8% (vs Q1'25)
  • Share dilution Telecommunications Services: +0.0%
    -2.6% Q1'26: -1.4% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Telecommunications Services: 1.26×
    3.36× Q1'26: 3.42× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.90) × ERP
WACC = 58% × Ke + 42% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 239.15 Current price: 95.74
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
4 Rev. Ana.
3 EPS Ana.
Dec 2027
4 Rev. Ana.
3 EPS Ana.
Dec 2028
6 Rev. Ana.
5 EPS Ana.
Dec 2029
5 Rev. Ana.
1 EPS Ana.
Revenue
6.57B
est: 6.76B (-2.7%)
4.11B
est: 6.25B (-34.3%)
4.08B
est: 6.11B (-33.2%)
3.95B
est: 6.06B (-34.8%)
4.34B
est: 6.34B (-31.6%)
4.17B
est: 6.18B (-32.5%)
4.26B
est: 6.58B (-35.2%)
5.62B
est: 5.66B (-0.7%)
5.66B
est: 5.84B (-3.1%)
5.80B
est: 5.85B (-0.8%)
5.82B
est: 5.75B (+1.2%)
8.23B
8.20B – 8.26B
+43.1% YoY
8.54B
8.45B – 8.62B
+3.7% YoY
8.70B
8.69B – 8.71B
+1.9% YoY
5.90B
5.67B – 6.03B
-32.2% YoY
EBITDA
1.52B
est: 2.72B (-44.0%)
1.25B
est: 2.52B (-50.3%)
1.31B
est: 2.46B (-46.6%)
1.27B
est: 2.44B (-48.1%)
1.73B
est: 2.55B (-32.2%)
1.38B
est: 2.49B (-44.7%)
2.16B
est: 2.65B (-18.4%)
2.16B
est: 2.28B (-5.2%)
2.19B
est: 2.53B (-13.8%)
2.36B
est: 2.54B (-7.0%)
2.82B
est: 2.49B (+13.0%)
3.57B
3.56B – 3.58B
+43.1% YoY
3.70B
3.66B – 3.74B
+3.7% YoY
3.77B
3.77B – 3.78B
+1.9% YoY
2.56B
2.46B – 2.62B
-32.2% YoY
EBIT
242.00M
est: 1.04B (-76.8%)
374.00M
est: 963.56M (-61.2%)
473.00M
est: 941.01M (-49.7%)
463.00M
est: 933.33M (-50.4%)
631.00M
est: 976.66M (-35.4%)
168.00M
est: 951.96M (-82.4%)
1.05B
est: 1.01B (+3.2%)
796.00M
est: 872.56M (-8.8%)
847.00M
est: 1.78B (-52.4%)
1.12B
est: 1.78B (-37.0%)
1.54B
est: 1.75B (-12.2%)
2.51B
2.50B – 2.52B
+43.1% YoY
2.60B
2.57B – 2.62B
+3.7% YoY
2.65B
2.65B – 2.65B
+1.9% YoY
1.80B
1.73B – 1.84B
-32.2% YoY
Net Income
-559.00M
est: 1.36M (-41,105.7%)
-45.00M
est: 134.86M (-133.4%)
47.00M
est: 80.66M (-41.7%)
19.00M
est: 209.52M (-90.9%)
75.00M
est: 352.11M (-78.7%)
-344.00M
est: -374.72M (+8.2%)
590.00M
est: 53.75M (+997.7%)
57.00M
est: 189.49M (-69.9%)
-82.00M
est: 103.00M (-179.6%)
253.00M
est: 446.54M (-43.3%)
1.32B
est: 968.27M (+35.9%)
835.31M
826.24M – 844.37M
-13.7% YoY
824.11M
743.44M – 1.17B
-1.3% YoY
954.97M
682.97M – 1.53B
+15.9% YoY
— – —
-100.0% YoY
SGA
2.26B
est: 1.54B (+46.9%)
1.66B
est: 1.42B (+16.9%)
1.14B
est: 1.39B (-17.6%)
1.12B
est: 1.38B (-18.9%)
1.11B
est: 1.44B (-23.0%)
1.08B
est: 1.40B (-23.4%)
1.07B
est: 1.50B (-28.3%)
1.06B
est: 1.29B (-17.3%)
1.43B
est: 1.38B (+3.5%)
1.08B
est: 1.38B (-22.0%)
1.76B
est: 1.36B (+29.4%)
1.94B
1.94B – 1.95B
+43.1% YoY
2.02B
2.00B – 2.04B
+3.7% YoY
2.06B
2.05B – 2.06B
+1.9% YoY
1.39B
1.34B – 1.43B
-32.2% YoY
EPS
-4.38
est: 0.01 (-55,551.9%)
-0.35
est: 0.78 (-145.2%)
0.37
est: 0.47 (-21.4%)
0.15
est: 1.21 (-87.8%)
0.58
est: 2.04 (-71.5%)
-2.67
est: -2.17 (-22.9%)
3.60
est: 0.31 (+1,056.6%)
0.41
est: 1.10 (-62.7%)
-0.48
est: 0.60 (-179.7%)
1.48
est: 2.66 (-44.4%)
7.86
est: 5.83 (+34.9%)
4.98
4.92 – 5.02
-14.6% YoY
5.69
4.42 – 6.95
+14.4% YoY
6.43
4.06 – 9.13
+12.9% YoY
— – —
-100.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-05-08 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-05-07 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-05-06 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-05-05 A- 4/5 3/5 5/5 5/5 1/5 4/5 2/5
2026-05-04 A- 4/5 3/5 5/5 5/5 1/5 4/5 2/5
2026-05-01 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-30 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-29 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-28 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-27 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-24 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-23 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-22 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-21 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-20 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-17 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-16 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5
2026-04-15 B+ 3/5 3/5 5/5 5/5 1/5 3/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
1.18B
OE per share TTM
7.03
Owner's Yield
8.97%
Maintenance CapEx ratio
1.52%
Maint CapEx / Avg PPE
81.3%

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
102
Total invested
595.77M
Insider transactions (90d)
5
Beneficial owners (>5%)
13
Beneficial owners (>5%)
# Reporting person Amount owned % of class Sole voting Shared voting Sole dispositive Shared dispositive Type Citizenship Filing date SEC filing
1 Kinnevik AB (publ) 37.84M 37.20% 37.84M CO Sweden 2019-02-01
2 Millcellvik AB 37.84M 37.20% 37.84M 37.84M CO Sweden 2019-02-01
3 Atlas Investissement 34.17M 20.00% 34.17M 34.17M CO France 2023-02-24
4 Atlas Luxco S.à r.l. 34.17M 20.00% 34.17M 34.17M CO Luxembourg 2023-02-24
5 NJJ Holding 34.17M 20.00% 34.17M 34.17M CO France 2023-02-24
6 Xavier Niel 34.17M 20.00% 34.17M 34.17M IN France 2023-02-24
7 PAGE 2 OF 5 PAGES 10.08M 9.90% 10.08M 10.08M IA 2020-02-13
8 Millicom International Cellular S.A. 9.64M 6.10% 9.64M 9.64M CO Grand Duchy of Luxembourg 2020-05-26
9 PAGE 2 OF 4 PAGES 5.18M 5.10% 5.18M 5.18M IA 2022-02-14
10 52-0556948 327.1K 1.30% 27.1K 327.1K IA MARYLAND 2004-02-13
11 Barry R. Feirstein 300.0K 1.80% 300.0K 300.0K IN United States 2004-02-11
12 GENESIS ASSET MANAGERS INTERNATIONAL LIMITED ("GAMIL") 0.00% IA A LIMITED LIABILITY COMPANY ORGANIZED UNDER THE LAWS OF THE UNITED KINGDOM 2004-03-24
13 GENESIS ASSET MANAGERS LIMITED ("GAML") 0.00% IA CHANNEL ISLANDS 2004-03-24

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2026 Q1
Investors holding
102
-234 vs prev Q
New positions
22
Closed positions
248
Increased
59
Reduced
34
Put/Call ratio
0.00
Calls held
Puts held
Top institutional holders
# Investor Shares / Δ Mkt value / Δ Own% / Δ Weight% / Δ Avg px / Perf. Hold / Status
1 DODGE & COX 8.13M -315.5K (-3.7%) 450.90M +40.8M (+9.9%) 4.84% -0.224 pp 0.24% +0.022 pp USD30.38 +82.5% 4 qtrs
2 JPMORGAN CHASE & CO 6.71M +253.9K (+3.9%) 372.20M +58.6M (+18.7%) 3.99% +0.123 pp 0.02% +0.005 pp USD45.16 +22.8% 7 qtrs
3 BLACKROCK, INC. 5.42M +121.4K (+2.3%) 300.75M +43.3M (+16.8%) 3.23% +0.049 pp 0.01% +0.001 pp USD35.30 +57.1% 6 qtrs
4 PRICE T ROWE ASSOCIATES INC /MD/ 4.94M -895.9K (-15.4%) 273.66M -9.4M (-3.3%) 2.94% -0.558 pp 0.03% -0.001 pp USD30.44 +82.1% 8 qtrs
5 BRANDES INVESTMENT PARTNERS, LP 4.84M -998.8K (-17.1%) 268.14M -15.1M (-5.3%) 2.88% -0.620 pp 2.04% -0.231 pp USD19.39 +185.9% 15 qtrs
6 BARCLAYS PLC 2.86M +2.6M (+1,204.1%) 158.58M +152.6M (+2,565.8%) 1.70% +1.570 pp 0.04% +0.037 pp USD53.48 +3.7% 7 qtrs
7 STATE STREET CORP 2.28M +296.3K (+14.9%) 126.36M +30.1M (+31.3%) 1.36% +0.168 pp 0.00% +0.001 pp USD38.09 +45.6% 6 qtrs
8 PERPETUAL LTD 2.05M -682.9K (-25.0%) 113.60M -19.0M (-14.3%) 1.22% -0.418 pp 1.64% -0.003 pp USD48.10 +15.3% 5 qtrs
9 SWEDBANK AB 2.01M -381.6K (-15.9%) 111.66M -4.6M (-4.0%) 1.20% -0.237 pp 0.11% -0.010 pp USD30.27 +83.2% 4 qtrs
10 BOSTON PARTNERS 1.60M +41.8K (+2.7%) 88.91M +13.1M (+17.3%) 0.95% +0.018 pp 0.09% +0.014 pp USD32.20 +72.2% 4 qtrs
11 NORTHERN TRUST CORP 1.25M -18.1K (-1.4%) 69.46M +7.8M (+12.6%) 0.75% -0.016 pp 0.01% +0.001 pp USD41.87 +32.4% 4 qtrs
12 MARATHON ASSET MANAGEMENT LTD 1.10M +116.5K (+11.8%) 61.07M +13.3M (+27.8%) 0.66% +0.065 pp 2.35% +0.591 pp USD49.27 +12.5% 2 qtrs
13 TREDJE AP-FONDEN 1.09M +1.1M (+100.0%) 60.46M +60.5M (+100.0%) 0.65% +0.649 pp 0.46% +0.455 pp USD55.44 +0.0% 1 qtrs NEW
14 BNP PARIBAS ASSET MANAGEMENT HOLDING S.A. 1.01M +459.1K (+83.2%) 56.03M +29.3M (+109.3%) 0.60% +0.271 pp 0.06% -0.005 pp USD48.52 +14.3% 3 qtrs
15 FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND 1.00M +1.0M (+100.0%) 55.44M +55.4M (+100.0%) 0.59% +0.595 pp 0.46% +0.464 pp USD55.44 +0.0% 1 qtrs NEW
16 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 940.7K -276.3K (-22.7%) 52.15M -6.9M (-11.7%) 0.56% -0.170 pp 0.03% -0.007 pp USD30.27 +83.2% 4 qtrs
17 FIRST TRUST ADVISORS LP 893.4K -75.7K (-7.8%) 49.53M +2.5M (+5.3%) 0.53% -0.049 pp 0.04% +0.001 pp USD37.67 +47.2% 4 qtrs
18 QUBE RESEARCH & TECHNOLOGIES LTD 850.9K +203.0K (+31.3%) 47.17M +15.7M (+50.0%) 0.51% +0.118 pp 0.05% +0.015 pp USD39.84 +39.2% 10 qtrs
19 MORGAN STANLEY 847.7K +234.0K (+38.1%) 47.00M +17.2M (+57.8%) 0.50% +0.137 pp 0.00% +0.001 pp USD40.48 +37.0% 28 qtrs
20 VICTORY CAPITAL MANAGEMENT INC 810.5K +66.0K (+8.9%) 44.94M +8.8M (+24.3%) 0.48% +0.036 pp 0.03% +0.004 pp USD32.38 +71.2% 4 qtrs
21 GEODE CAPITAL MANAGEMENT, LLC 777.0K -14.3K (-1.8%) 43.07M +4.7M (+12.1%) 0.46% -0.012 pp 0.00% +0.000 pp USD36.03 +53.9% 28 qtrs
22 DEUTSCHE BANK AG\ 724.8K -111.9K (-13.4%) 40.18M -429.4K (-1.1%) 0.43% -0.070 pp 0.01% -0.001 pp USD31.89 +73.8% 4 qtrs
23 CULLEN CAPITAL MANAGEMENT, LLC 656.6K +13.6K (+2.1%) 36.40M +5.2M (+16.6%) 0.39% +0.005 pp 0.40% +0.056 pp USD48.68 +13.9% 2 qtrs
24 GAMCO INVESTORS, INC. ET AL 651.2K -65.0K (-9.1%) 36.10M +1.3M (+3.8%) 0.39% -0.042 pp 0.35% +0.010 pp USD37.18 +49.1% 28 qtrs
25 TRIODOS INVESTMENT MANAGEMENT BV 607.0K -102.0K (-14.4%) 33.44M -954.0K (-2.8%) 0.36% -0.064 pp 2.42% -0.070 pp USD30.27 +83.2% 4 qtrs
26 CREDIT AGRICOLE S A 575.6K +11.1K (+2.0%) 31.91M +4.5M (+16.5%) 0.34% +0.004 pp 0.07% 0.000 pp USD48.67 +13.9% 2 qtrs
27 FMR LLC 557.4K +263.2K (+89.5%) 30.90M +16.6M (+116.4%) 0.33% +0.155 pp 0.00% +0.001 pp USD51.79 +7.0% 28 qtrs
28 RENAISSANCE TECHNOLOGIES LLC 462.4K -238.2K (-34.0%) 25.64M -8.4M (-24.6%) 0.28% -0.145 pp 0.04% -0.005 pp USD35.19 +57.5% 27 qtrs
29 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 454.9K -27.2K (-5.6%) 25.22M +1.8M (+7.8%) 0.27% -0.018 pp 0.08% +0.004 pp USD44.48 +24.6% 4 qtrs
30 MACKENZIE FINANCIAL CORP 457.8K +8.9K (+2.0%) 25.17M +3.4M (+15.5%) 0.27% +0.003 pp 0.03% +0.003 pp USD37.82 +46.6% 3 qtrs
31 GOLDMAN SACHS GROUP INC 450.1K +207.6K (+85.6%) 24.95M +13.2M (+112.0%) 0.27% +0.122 pp 0.00% +0.002 pp USD41.88 +32.4% 4 qtrs
32 SG AMERICAS SECURITIES, LLC 433.3K +26.8K (+6.6%) 24.02M +4.3M (+21.8%) 0.26% +0.014 pp 0.03% -0.036 pp USD47.78 +16.0% 15 qtrs
33 GABELLI FUNDS LLC 419.1K -26.4K (-5.9%) 23.23M +1.6M (+7.4%) 0.25% -0.018 pp 0.16% +0.011 pp USD30.08 +84.3% 28 qtrs
34 SEI INVESTMENTS CO 415.4K +147.8K (+55.2%) 23.03M +10.0M (+77.3%) 0.25% +0.087 pp 0.02% +0.009 pp USD47.34 +17.1% 4 qtrs
35 CROSSMARK GLOBAL HOLDINGS, INC. 414.0K +16.1K (+4.1%) 22.95M +3.6M (+18.8%) 0.25% +0.008 pp 0.33% +0.040 pp USD45.07 +23.0% 3 qtrs
36 AQR CAPITAL MANAGEMENT LLC 406.4K +385.8K (+1,865.5%) 22.53M +21.5M (+2,144.9%) 0.24% +0.229 pp 0.01% +0.011 pp USD54.44 +1.8% 7 qtrs
37 APERTURE INVESTORS, LLC 383.0K +— (+0.0%) 21.24M +2.6M (+14.2%) 0.23% -0.002 pp 2.43% -0.122 pp USD48.54 +14.2% 2 qtrs
38 FRANKLIN RESOURCES INC 371.0K +87.1K (+30.7%) 20.57M +6.8M (+49.2%) 0.22% +0.051 pp 0.01% +0.002 pp USD49.13 +12.8% 3 qtrs
39 UBS GROUP AG 356.3K -172.3K (-32.6%) 19.75M -5.9M (-23.0%) 0.21% -0.105 pp 0.00% -0.001 pp USD44.01 +26.0% 28 qtrs
40 BANK OF NEW YORK MELLON CORP 355.2K +15.2K (+4.5%) 19.69M +3.2M (+19.3%) 0.21% +0.008 pp 0.00% +0.000 pp USD40.78 +35.9% 4 qtrs
41 HOSKING PARTNERS LLP 354.6K -22.6K (-6.0%) 19.66M +1.4M (+7.4%) 0.21% -0.015 pp 0.67% +0.005 pp USD30.27 +83.2% 4 qtrs
42 PARK WEST ASSET MANAGEMENT LLC 335.1K -115.4K (-25.6%) 18.58M -3.3M (-15.0%) 0.20% -0.071 pp 1.54% -0.300 pp USD29.41 +88.5% 5 qtrs
43 VANGUARD GROUP INC 322.1K -30.2K (-8.6%) 17.86M +755.2K (+4.4%) 0.19% -0.020 pp 0.00% +0.000 pp USD41.08 +35.0% 4 qtrs
44 UBS ASSET MANAGEMENT AMERICAS INC 315.4K +315.4K (+100.0%) 17.48M +17.5M (+100.0%) 0.19% +0.188 pp 0.00% +0.004 pp USD55.44 +0.0% 4 qtrs
45 CANADA PENSION PLAN INVESTMENT BOARD 299.1K +110.7K (+58.8%) 16.58M +7.4M (+81.3%) 0.18% +0.065 pp 0.01% +0.005 pp USD51.09 +8.5% 2 qtrs
46 SUSQUEHANNA INTERNATIONAL GROUP, LLP 285.5K +23.2K (+8.8%) 15.83M +3.1M (+24.3%) 0.17% +0.013 pp 0.00% +0.000 pp USD49.10 +12.9% 2 qtrs
47 NUVEEN, LLC 267.8K +20.9K (+8.5%) 14.85M +2.9M (+23.9%) 0.16% +0.011 pp 0.00% +0.001 pp USD37.56 +47.6% 4 qtrs
48 HENNESSY ADVISORS INC 260.9K -17.0K (-6.1%) 14.46M +975.0K (+7.2%) 0.16% -0.011 pp 0.51% +0.047 pp USD37.47 +48.0% 3 qtrs
49 LEGAL & GENERAL GROUP PLC 249.1K +10.9K (+4.6%) 13.81M +2.2M (+19.4%) 0.15% +0.005 pp 0.00% +0.001 pp USD36.56 +51.6% 12 qtrs
50 CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. 247.9K +130.8K (+111.8%) 13.74M +8.1M (+141.9%) 0.15% +0.077 pp 0.04% +0.018 pp USD49.79 +11.3% 4 qtrs
51 AMUNDI 240.0K +49.6K (+26.1%) 13.31M +4.1M (+44.2%) 0.14% +0.029 pp 0.00% +0.001 pp USD44.86 +23.6% 4 qtrs
52 LB PARTNERS LLC 232.0K -80.0K (-25.6%) 12.86M -2.3M (-15.1%) 0.14% -0.049 pp 11.87% +2.150 pp USD18.34 +202.3% 9 qtrs
53 TREASURER OF THE STATE OF NORTH CAROLINA 226.6K +171.5K (+311.2%) 12.56M +9.9M (+369.6%) 0.13% +0.102 pp 0.04% +0.032 pp USD51.42 +7.8% 3 qtrs
54 PDT PARTNERS, LLC 225.9K +— (+0.0%) 12.52M +1.6M (+14.2%) 0.13% -0.001 pp 0.81% +0.121 pp USD36.50 +51.9% 4 qtrs
55 CAUSEWAY CAPITAL MANAGEMENT LLC 216.0K +178.0K (+468.3%) 11.97M +10.1M (+549.1%) 0.13% +0.106 pp 0.16% +0.140 pp USD54.23 +2.2% 2 qtrs
56 NORDEA INVESTMENT MANAGEMENT AB 204.9K -27.6K (-11.9%) 11.38M +109.7K (+1.0%) 0.12% -0.017 pp 0.01% 0.000 pp USD30.99 +78.9% 4 qtrs
57 TRIASIMA PORTFOLIO MANAGEMENT INC. 203.4K +— (+0.0%) 11.28M +1.4M (+14.2%) 0.12% -0.001 pp 1.69% +0.199 pp USD43.56 +27.3% 3 qtrs
58 SWISS NATIONAL BANK 200.8K -300.0 (-0.1%) 11.13M +1.4M (+14.0%) 0.12% -0.001 pp 0.01% +0.001 pp USD30.52 +81.7% 4 qtrs
59 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 200.6K -12.0K (-5.6%) 11.12M +801.5K (+7.8%) 0.12% -0.008 pp 0.00% +0.000 pp USD27.08 +104.7% 7 qtrs
60 BANK OF AMERICA CORP /DE/ 199.8K +125.8K (+170.1%) 11.08M +7.5M (+208.5%) 0.12% +0.075 pp 0.00% +0.001 pp USD46.58 +19.0% 28 qtrs
61 LOS ANGELES CAPITAL MANAGEMENT LLC 220.6K -86.7K (-28.2%) 10.32M -4.6M (-30.8%) 0.13% -0.053 pp 0.04% -0.015 pp USD48.54 +14.2% 4 qtrs
62 INVESCO LTD. 181.1K +23.3K (+14.8%) 10.04M +2.4M (+31.1%) 0.11% +0.013 pp 0.00% +0.000 pp USD39.38 +40.8% 4 qtrs
63 RENAISSANCE GROUP LLC 180.0K -21.9K (-10.8%) 9.98M +180.5K (+1.8%) 0.11% -0.014 pp 0.40% +0.031 pp USD22.20 +149.7% 15 qtrs
64 CX INSTITUTIONAL 178.2K +2.6K (+1.5%) 9.88M +1.4M (+15.9%) 0.11% +0.001 pp 0.29% +0.036 pp USD48.64 +14.0% 2 qtrs
65 ALLIANCEBERNSTEIN L.P. 145.6K +36.1K (+33.0%) 8.07M +2.8M (+51.8%) 0.09% +0.021 pp 0.00% +0.001 pp USD45.23 +22.6% 4 qtrs
66 WELLS FARGO & COMPANY/MN 142.9K +85.6K (+149.6%) 7.92M +5.1M (+185.1%) 0.09% +0.051 pp 0.00% +0.001 pp USD51.52 +7.6% 13 qtrs
67 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 142.0K +25.7K (+22.1%) 7.87M +2.2M (+39.5%) 0.08% +0.015 pp 0.04% +0.012 pp USD49.79 +11.3% 2 qtrs
68 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 125.2K -3.2K (-2.5%) 6.94M +709.6K (+11.4%) 0.07% -0.002 pp 0.02% +0.003 pp USD38.91 +42.5% 3 qtrs
69 KLP KAPITALFORVALTNING AS 124.7K -5.1K (-3.9%) 6.91M +612.9K (+9.7%) 0.07% -0.004 pp 0.03% +0.002 pp USD33.46 +65.7% 4 qtrs
70 MERITAGE PORTFOLIO MANAGEMENT 124.7K -3.9K (-3.0%) 6.91M +670.9K (+10.8%) 0.07% -0.003 pp 0.46% +0.043 pp USD37.47 +48.0% 3 qtrs
71 HRT FINANCIAL LP 116.5K +116.5K (+100.0%) 6.46M +6.5M (+100.0%) 0.07% +0.069 pp 0.02% +0.020 pp USD55.44 +0.0% 1 qtrs NEW
72 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 112.9K -2.5K (-2.2%) 6.26M +655.2K (+11.7%) 0.07% -0.002 pp 0.01% +0.001 pp USD31.31 +77.1% 4 qtrs
73 SUSQUEHANNA PORTFOLIO STRATEGIES, LLC 111.5K -66.2K (-37.2%) 6.18M -2.4M (-28.3%) 0.07% -0.040 pp 0.10% -0.041 pp USD47.28 +17.3% 3 qtrs
74 EMPOWERED FUNDS, LLC 111.3K +111.3K (+100.0%) 6.17M +6.2M (+100.0%) 0.07% +0.066 pp 0.05% +0.049 pp USD55.44 +0.0% 1 qtrs NEW
75 EXCHANGE TRADED CONCEPTS, LLC 111.2K +2.6K (+2.4%) 6.17M +892.8K (+16.9%) 0.07% +0.001 pp 0.05% +0.002 pp USD48.70 +13.8% 2 qtrs
76 BRANDYWINE GLOBAL INVESTMENT MANAGEMENT, LLC 110.6K +37.0K (+50.2%) 6.13M +2.6M (+71.6%) 0.07% +0.022 pp 0.04% +0.017 pp USD50.85 +9.0% 2 qtrs
77 JANE STREET GROUP, LLC 108.6K -2.8K (-2.5%) 6.02M +613.4K (+11.3%) 0.06% -0.002 pp 0.00% +0.000 pp USD48.54 +14.2% 2 qtrs
78 EXODUSPOINT CAPITAL MANAGEMENT, LP 108.0K +79.8K (+283.3%) 5.98M +4.6M (+337.8%) 0.06% +0.047 pp 0.05% +0.033 pp USD53.64 +3.4% 2 qtrs
79 VESTCOR INC 107.0K +25.9K (+31.9%) 5.93M +2.0M (+50.7%) 0.06% +0.015 pp 0.17% +0.052 pp USD41.82 +32.6% 3 qtrs
80 ENVESTNET ASSET MANAGEMENT INC 101.0K -30.6K (-23.3%) 5.60M -790.5K (-12.4%) 0.06% -0.019 pp 0.00% 0.000 pp USD21.84 +153.8% 15 qtrs
81 SEGALL BRYANT & HAMILL, LLC 98.6K +1.0K (+1.0%) 5.47M +728.7K (+15.4%) 0.06% +0.000 pp 0.07% +0.011 pp USD30.55 +81.5% 4 qtrs
82 ASSETMARK, INC 85.1K +20.2K (+31.1%) 4.72M +1.6M (+49.8%) 0.05% +0.012 pp 0.01% +0.003 pp USD37.02 +49.8% 8 qtrs
83 NISA INVESTMENT ADVISORS, LLC 83.9K +1.3K (+1.5%) 4.65M +641.0K (+16.0%) 0.05% +0.000 pp 0.02% 0.000 pp USD48.65 +14.0% 2 qtrs
84 RHUMBLINE ADVISERS 82.3K -2.6K (-3.1%) 4.56M +439.9K (+10.7%) 0.05% -0.002 pp 0.00% +0.000 pp USD38.23 +45.0% 3 qtrs
85 MAN GROUP PLC 81.5K +25.9K (+46.5%) 4.52M +1.8M (+67.4%) 0.05% +0.015 pp 0.01% +0.003 pp USD43.18 +28.4% 3 qtrs
86 STATE OF TENNESSEE, TREASURY DEPARTMENT 73.9K +73.9K (+100.0%) 4.51M +4.5M (+100.0%) 0.04% +0.044 pp 0.01% +0.014 pp USD55.44 +0.0% 1 qtrs NEW
87 FUTURE FUND LLC 81.2K +16.2K (+24.9%) 4.50M +1.3M (+42.6%) 0.05% +0.009 pp 1.43% +0.311 pp USD42.52 +30.4% 4 qtrs
88 POLICE & FIREMEN'S RETIREMENT SYSTEM OF NEW JERSEY 80.2K -3.7K (-4.4%) 4.45M +374.5K (+9.2%) 0.05% -0.003 pp 0.04% +0.004 pp USD38.49 +44.0% 4 qtrs
89 CALAMOS ADVISORS LLC 79.6K -28.7K (-26.5%) 4.41M -843.2K (-16.1%) 0.05% -0.018 pp 0.02% -0.003 pp USD36.20 +53.1% 4 qtrs
90 BTG PACTUAL ASSET MANAGEMENT US LLC 78.8K +14.9K (+23.2%) 4.37M +2.0M (+82.3%) 0.05% +0.009 pp 0.43% +0.313 pp USD32.91 +68.5% 6 qtrs
91 LAZARD ASSET MANAGEMENT LLC 78.4K +78.4K (+100.0%) 4.35M +4.3M (+100.0%) 0.05% +0.047 pp 0.01% +0.007 pp USD55.44 +0.0% 9 qtrs
92 LSV ASSET MANAGEMENT 78.2K +— (+0.0%) 4.33M +539.0K (+14.2%) 0.05% 0.000 pp 0.01% +0.001 pp USD30.27 +83.2% 4 qtrs
93 VERITION FUND MANAGEMENT LLC 76.4K +— (+0.0%) 4.24M +527.1K (+14.2%) 0.05% 0.000 pp 0.02% +0.001 pp USD30.97 +79.0% 4 qtrs
94 WELLINGTON MANAGEMENT GROUP LLP 69.5K +51.4K (+282.9%) 3.85M +3.0M (+337.3%) 0.04% +0.031 pp 0.00% +0.001 pp USD50.75 +9.2% 3 qtrs
95 TWO SIGMA ADVISERS, LP 68.4K -4.9K (-6.7%) 3.79M +234.1K (+6.6%) 0.04% -0.003 pp 0.01% +0.000 pp USD29.88 +85.5% 5 qtrs
96 CITADEL ADVISORS LLC 65.8K +65.8K (+100.0%) 3.65M +3.6M (+100.0%) 0.04% +0.039 pp 0.00% +0.001 pp USD55.44 +0.0% 8 qtrs
97 RAYMOND JAMES FINANCIAL INC 65.3K +16.7K (+34.4%) 3.62M +1.3M (+53.6%) 0.04% +0.010 pp 0.00% +0.000 pp USD50.20 +10.4% 3 qtrs
98 ILLINOIS MUNICIPAL RETIREMENT FUND 63.2K +63.2K (+100.0%) 3.50M +3.5M (+100.0%) 0.04% +0.038 pp 0.04% +0.044 pp USD55.44 +0.0% 1 qtrs NEW
99 AMERICAN CENTURY COMPANIES INC 63.2K +29.5K (+87.5%) 3.50M +1.9M (+114.1%) 0.04% +0.017 pp 0.00% +0.001 pp USD45.88 +20.8% 3 qtrs
100 ONE CAPITAL MANAGEMENT, LLC 63.0K +18.7K (+42.2%) 3.49M +1.3M (+62.4%) 0.04% +0.011 pp 0.11% +0.037 pp USD45.69 +21.3% 3 qtrs
Ownership breakdown by holder

Insider Activity

Insider Activity — Latest Quarter
Ratio by transactions
0.00
Bearish
Buys
0
Sells
0
Shares acquired
Shares disposed
Cash buys
Cash sales
Net activity
+0
Insider buys vs sells (history) From To
Recent insider transactions From To
Date Person Role Transaction A/D Security Shares Price Value Owned after D/I Filing
2027-01-01 Vianna Celso T Officer Stock Appreciation Rights 8,324 20.30 169.0K 0 D
2027-01-01 Vanhaeren Bart Kristof Officer Stock Appreciation Rights 8,296 20.30 168.4K 0 D
2027-01-01 Lesina Karim Antonio Officer Stock Appreciation Rights 19,816 20.30 402.3K 0 D
2027-01-01 Escalon Salvador Officer Stock Appreciation Rights 27,937 20.30 567.1K 0 D
2027-01-01 Benitez Marcelo Officer Stock Appreciation Rights 31,824 20.30 646.0K 0 D
2026-03-18 Vianna Celso T Officer Common Shares 0 0.00 66,964 D
2026-03-18 Vanhaeren Bart Kristof Officer Common Shares 0 0.00 87,120 D
2026-03-18 Trevino de Vega Blanca Director Common Shares 0 0.00 13,027 D
2026-03-18 Niel Jules Director 0 0.00 0
2026-03-18 Lombardini Maxime Director 0 0.00 0
2026-03-18 Lesina Karim Antonio Officer Common Shares 0 0.00 160,598 D
2026-03-18 Escalon Salvador Officer Common Shares 0 0.00 214,632 D
2026-03-18 Durand Pierre-Emmanuel Director 0 0.00 0
2026-03-18 Duhaze Guillaume Officer 0 0.00 0
2026-03-18 Dimovic Justine Director Common Shares 0 0.00 7,426 D
2026-03-18 CHURCHILL BRUCE Director Common Shares 0 0.00 25,593 D
2026-03-18 Benitez Marcelo Officer Common Shares 0 0.00 131,473 D
2026-03-18 Arnal Maria Teresa Director Common Shares 0 0.00 13,027 D
2026-03-18 Allemand Pierre-Alain Director 0 0.00 0

Executive team

Top executives
EBIT / Employee
106.2K
Shares Outstanding
167.54M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings
Filing date Form type Filing
2026-04-28 6-K
2026-04-17 6-K
2026-04-15 6-K
2026-04-02 6-K
2026-03-27 SC 13D/A
2026-03-26 6-K
2026-03-24 20-F
2026-03-18 3
2026-03-18 3
2026-03-18 3

Executive team

NameTitleCompensationGender
Bart Vanhaeren Chief Financial Officer male
Guillaume Duhaze Chief Technology & Information Officer male
Karim Lesina Executive Vice President & Chief External Affairs Officer male
Luca Pfeifer Vice President of Investor Relations male
Marcelo Benitez Chief Executive Officer male
Salvador Escalon Executive Vice President and Chief Legal & Compliance Officer male
Sofia Corral Director of Corporate Communications
ESG Rating
B
TELECOMMUNICATIONS SERVICES
Rank: 24 out of 79
2025
E (Environmental)
61.7 / 58.5
Company / Sector avg.
S (Social)
62.6 / 69.1
Company / Sector avg.
G (Governance)
69.3 / 64.0
Company / Sector avg.
ESG Total
64.5 / 63.9
Company / Sector avg.
ESG Score History TELECOMMUNICATIONS SERVICES
Benchmark vs Sector
Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits