BCE vs. TIGO: BCE vs. Millicom International Cellular Stock Comparison

November 11, 2026

How do BCE (BCE) and Millicom International Cellular (TIGO) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

BCE (BCE) and Millicom International Cellular (TIGO) both fall under the Telecommunication Services industry group, but BCE is classified in Diversified Telecommunication Services while TIGO is classified in Wireless Telecommunication Services.

Company profile comparison for BCE (BCE) and Millicom International Cellular (TIGO)
Profile Item	BCE	TIGO
Name	BCE Inc.	Millicom International Cellular S.A.
Country/Region	Canada	Luxembourg
GICS Sector	Communication Services	Communication Services
GICS Industry Group	Telecommunication Services	Telecommunication Services
GICS Industry	Diversified Telecommunication Services	Wireless Telecommunication Services
GICS Sub-Industry	Integrated Telecommunication Services	Wireless Telecommunication Services
Market Capitalization	20.16 billion USD	13.96 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	November 15, 1982	January 9, 2019
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

BCE

TIGO

GSPC

BCE (BCE) vs. Millicom International Cellular (TIGO), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for BCE (BCE) and Millicom International Cellular (TIGO). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for BCE (BCE) and Millicom International Cellular (TIGO). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for BCE (BCE) and Millicom International Cellular (TIGO)
Metric	BCE	TIGO
Total Return (1Y)	-3.05%	88.87%
Total Return (3Y, Annualized)	-11.78%	85.47%
Total Return (5Y, Annualized)	-10.24%	23.36%

Risk Profile

Drawdown History

BCE

TIGO

GSPC

BCE (BCE) vs. Millicom International Cellular (TIGO), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for BCE (BCE) and Millicom International Cellular (TIGO). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for BCE (BCE) and Millicom International Cellular (TIGO)
Metric	BCE	TIGO
Volatility (1Y, Annualized)	21.92%	41.65%
Beta (5Y)	0.52	0.96
Max Drawdown (5Y)	-56.57%	-71.26%
Avg. Volume (3M)	4.21M	924.74K

Risk-Adjusted Performance

Risk-Return Positioning

BCE and TIGO are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for BCE (BCE) and Millicom International Cellular (TIGO)
Metric	BCE	TIGO
Sharpe Ratio (1Y)	-0.33	2.03
Sortino Ratio (1Y)	-0.47	3.02

Profitability

ROE (TTM)

Millicom International Cellular (TIGO) at 19.54% sits in the top ROE quartile, while BCE (BCE) at 11.13% is closer to the peer norm — stronger capital efficiency for TIGO.

BCE

Telecommunication Services industry group

11.13%

Max: 31.74%
Q3: 17.02%
BCE: 11.13%
Median: 7.32%
Q1: -5.16%
Min: -20.26%

TIGO

Telecommunication Services industry group

19.54%

Max: 31.74%
TIGO: 19.54%
Q3: 17.02%
Median: 7.32%
Q1: -5.16%
Min: -20.26%

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their ROE against the Telecommunication Services industry group benchmark.

Net Margin (TTM)

Both BCE (BCE) at 10.23% and Millicom International Cellular (TIGO) at 7.01% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

BCE

Telecommunication Services industry group

10.23%

Max: 30.45%
Q3: 11.78%
BCE: 10.23%
Median: 7.20%
Q1: -3.86%
Min: -18.49%

TIGO

Telecommunication Services industry group

7.01%

Max: 30.45%
Q3: 11.78%
Median: 7.20%
TIGO: 7.01%
Q1: -3.86%
Min: -18.49%

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their net margin against the Telecommunication Services industry group benchmark.

Operating Margin (TTM)

Both BCE (BCE) at 23.89% and Millicom International Cellular (TIGO) at 26.63% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

BCE

Telecommunication Services industry group

23.89%

Max: 35.53%
BCE: 23.89%
Q3: 22.79%
Median: 12.87%
Q1: 0.82%
Min: -29.20%

TIGO

Telecommunication Services industry group

26.63%

Max: 35.53%
TIGO: 26.63%
Q3: 22.79%
Median: 12.87%
Q1: 0.82%
Min: -29.20%

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their operating margin against the Telecommunication Services industry group benchmark.

Profitability Metrics

Profitability metrics for BCE (BCE) and Millicom International Cellular (TIGO)
Metric	BCE	TIGO
ROE (TTM)	11.13%	19.54%
ROA (TTM)	4.22%	6.70%
Net Margin (TTM)	10.23%	7.01%
Operating Margin (TTM)	23.89%	26.63%
Gross Margin (TTM)	44.92%	76.25%

Growth

Revenue Growth

Both BCE (BCE) at 0.24% and Millicom International Cellular (TIGO) at 0.26% post bottom-quartile revenue growth versus peers, pointing to weaker demand or pricing momentum than typical rivals.

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both BCE (BCE) at 3,672.22% and Millicom International Cellular (TIGO) at 438.36% grew per-share earnings faster than their entire industry benchmark ranges for EPS growth — a strong showing on both sides, though a depressed base year can exaggerate the percentage, so the level of earnings matters too.

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for BCE (BCE) and Millicom International Cellular (TIGO)
Metric	BCE	TIGO
Revenue Growth (YoY)	0.24%	0.26%
Revenue Growth (3Y CAGR)	0.40%	1.14%
EPS Growth (YoY)	3,672.22%	438.36%
EPS Growth (3Y CAGR)	31.59%	83.60%

Financial Strength

Current Ratio (MRQ)

Both BCE (BCE) at 0.62 and Millicom International Cellular (TIGO) at 0.56 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

BCE

Telecommunication Services industry group

0.62

Max: 2.85
Q3: 1.64
Median: 0.97
Q1: 0.78
BCE: 0.62
Min: 0.26

TIGO

Telecommunication Services industry group

0.56

Max: 2.85
Q3: 1.64
Median: 0.97
Q1: 0.78
TIGO: 0.56
Min: 0.26

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their current ratio against the Telecommunication Services industry group benchmark.

Debt / Equity (MRQ)

BCE (BCE) at 1.70 is near its industry mid-range for debt-to-equity ratio, while Millicom International Cellular (TIGO) at 5.29 sits above its benchmark range, pointing to a heavier debt load relative to equity.

BCE

Telecommunication Services industry group

1.70

Max: 3.94
Q3: 2.11
BCE: 1.70
Median: 1.32
Q1: 0.65
Min: 0.00

TIGO

Telecommunication Services industry group

5.29

TIGO: 5.29
Max: 3.94
Q3: 2.11
Median: 1.32
Q1: 0.65
Min: 0.00

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their debt-to-equity ratio against the Telecommunication Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for BCE (BCE) and Millicom International Cellular (TIGO)
Metric	BCE	TIGO
Current Ratio (MRQ)	0.62	0.56
Debt / Equity (MRQ)	1.70	5.29
Net Debt / EBITDA	4.67	3.15

Dividends

Dividend Yield (TTM)

Millicom International Cellular (TIGO) at 3.79% earns its spot in the top quartile of its industry’s yields; BCE (BCE) at 7.94% is past the top of its own peer range — territory where a dividend-safety check matters more than the headline number.

BCE

Telecommunication Services industry group

7.94%

BCE: 7.94%
Max: 6.10%
Q3: 2.63%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

TIGO

Telecommunication Services industry group

3.79%

Max: 6.10%
TIGO: 3.79%
Q3: 2.63%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their dividend yield against the Telecommunication Services industry group benchmark.

Dividend Payout Ratio (TTM)

BCE (BCE) at 68.09% pays out a band-typical share of earnings, while Millicom International Cellular (TIGO) at 88.91% distributes more than its industry norm — less retained, thinner cover.

BCE

Telecommunication Services industry group

68.09%

Max: 121.72%
Q3: 68.18%
BCE: 68.09%
Median: 4.06%
Q1: 0.00%
Min: 0.00%

TIGO

Telecommunication Services industry group

88.91%

Max: 121.72%
TIGO: 88.91%
Q3: 68.18%
Median: 4.06%
Q1: 0.00%
Min: 0.00%

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their payout ratio against the Telecommunication Services industry group benchmark.

Dividend Metrics

Dividend metrics for BCE (BCE) and Millicom International Cellular (TIGO)
Metric	BCE	TIGO
Dividend Yield (TTM)	7.94%	3.79%
Dividend Payout Ratio (TTM)	68.09%	88.91%

Valuation

P/E Ratio (TTM)

BCE (BCE) at 11.69 is near its industry’s usual P/E ratio, while Millicom International Cellular (TIGO) at 24.70 sits in the richer quartile — TIGO needs stronger growth or earnings quality to justify the premium.

BCE

Telecommunication Services industry group

11.69

Max: 30.40
Q3: 23.75
Median: 13.30
BCE: 11.69
Q1: 8.65
Min: 2.50

TIGO

Telecommunication Services industry group

24.70

Max: 30.40
TIGO: 24.70
Q3: 23.75
Median: 13.30
Q1: 8.65
Min: 2.50

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their P/E ratio against the Telecommunication Services industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both BCE (BCE) at 0.81 and Millicom International Cellular (TIGO) at 1.72 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

BCE

Telecommunication Services industry group

0.81

Max: 3.01
Q3: 1.73
BCE: 0.81
Median: 0.81
Q1: 0.36
Min: 0.00

TIGO

Telecommunication Services industry group

1.72

Max: 3.01
Q3: 1.73
TIGO: 1.72
Median: 0.81
Q1: 0.36
Min: 0.00

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their P/S ratio against the Telecommunication Services industry group benchmark.

P/B Ratio (MRQ)

BCE (BCE) at 1.35 is valued about in line with its industry on P/B ratio, while Millicom International Cellular (TIGO) at 6.24 carries an above-peer premium to book — TIGO is pricier on assets.

BCE

Telecommunication Services industry group

1.35

Max: 8.10
Q3: 3.98
Median: 1.53
BCE: 1.35
Q1: 0.65
Min: -2.39

TIGO

Telecommunication Services industry group

6.24

Max: 8.10
TIGO: 6.24
Q3: 3.98
Median: 1.53
Q1: 0.65
Min: -2.39

BCE (BCE) vs. Millicom International Cellular (TIGO): A comparison of their P/B ratio against the Telecommunication Services industry group benchmark.

Valuation Metrics

Valuation metrics for BCE (BCE) and Millicom International Cellular (TIGO)
Metric	BCE	TIGO
P/E Ratio (TTM)	11.69	24.70
P/S Ratio (TTM)	0.81	1.72
P/B Ratio (MRQ)	1.35	6.24
Free Cash Flow Yield (TTM)	11.99%	14.20%