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TIGO vs. VIV: Millicom International Cellular vs. Telefônica Brasil Stock Comparison

How do Millicom International Cellular (TIGO) and Telefônica Brasil (VIV) 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

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

Millicom International Cellular (TIGO) trades as ordinary local shares, while Telefônica Brasil (VIV) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Millicom International Cellular (TIGO) and Telefônica Brasil (VIV)
Profile ItemTIGOVIV
NameMillicom International Cellular S.A.Telefônica Brasil S.A. ADR
Country/RegionLuxembourgBrazil
GICS SectorCommunication ServicesCommunication Services
GICS Industry GroupTelecommunication ServicesTelecommunication Services
GICS IndustryWireless Telecommunication ServicesDiversified Telecommunication Services
GICS Sub-IndustryWireless Telecommunication ServicesIntegrated Telecommunication Services
Market Capitalization13.96 billion USD18.26 billion USD
CurrencyUSDUSD
ExchangeNasdaqNYSE
Listing DateJanuary 9, 2019November 16, 1998
Security TypeCommon StockADR

Price Performance

Cumulative Growth

TIGO
VIV
GSPC
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV), 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 Millicom International Cellular (TIGO) and Telefônica Brasil (VIV). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Millicom International Cellular (TIGO) and Telefônica Brasil (VIV)
MetricTIGOVIV
Total Return (1Y)88.87%-1.63%
Total Return (3Y, Annualized)85.47%11.15%
Total Return (5Y, Annualized)23.36%12.02%

Risk Profile

Drawdown History

TIGO
VIV
GSPC
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV), 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 Millicom International Cellular (TIGO) and Telefônica Brasil (VIV). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Millicom International Cellular (TIGO) and Telefônica Brasil (VIV)
MetricTIGOVIV
Volatility (1Y, Annualized)41.65%33.69%
Beta (5Y)0.960.53
Max Drawdown (5Y)-71.26%-40.80%
Avg. Volume (3M)924.74K1.60M

Risk-Adjusted Performance

Risk-Return Positioning

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TIGO and VIV 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 Millicom International Cellular (TIGO) and Telefônica Brasil (VIV)
MetricTIGOVIV
Sharpe Ratio (1Y)2.03-0.18
Sortino Ratio (1Y)3.02-0.24

Profitability

ROE (TTM)

Millicom International Cellular (TIGO) at 19.54% sits in the top ROE quartile, while Telefônica Brasil (VIV) at 9.87% is closer to the peer norm — stronger capital efficiency for TIGO.

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%

VIV

Telecommunication Services industry group

9.87%

Max
31.74%
Q3
17.02%
VIV
9.87%
Median
7.32%
Q1
-5.16%
Min
-20.26%
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV): A comparison of their ROE against the Telecommunication Services industry group benchmark.

Net Margin (TTM)

Both Millicom International Cellular (TIGO) at 7.01% and Telefônica Brasil (VIV) at 10.68% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

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%

VIV

Telecommunication Services industry group

10.68%

Max
30.45%
Q3
11.78%
VIV
10.68%
Median
7.20%
Q1
-3.86%
Min
-18.49%
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV): A comparison of their net margin against the Telecommunication Services industry group benchmark.

Operating Margin (TTM)

Millicom International Cellular (TIGO) at 26.63% operates in the top operating margin quartile, ahead of Telefônica Brasil (VIV) at 17.64%, which runs around its industry’s norm.

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%

VIV

Telecommunication Services industry group

17.64%

Max
35.53%
Q3
22.79%
VIV
17.64%
Median
12.87%
Q1
0.82%
Min
-29.20%
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV): A comparison of their operating margin against the Telecommunication Services industry group benchmark.

Profitability Metrics

Profitability metrics for Millicom International Cellular (TIGO) and Telefônica Brasil (VIV)
MetricTIGOVIV
ROE (TTM)19.54%9.87%
ROA (TTM)6.70%5.51%
Net Margin (TTM)7.01%10.68%
Operating Margin (TTM)26.63%17.64%
Gross Margin (TTM)76.25%48.26%

Growth

Revenue Growth

Telefônica Brasil (VIV) at 6.71% is around its peer norm for revenue growth, while Millicom International Cellular (TIGO) at 0.26% drops into the bottom quartile, signaling weaker demand or pricing momentum.

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

EPS Growth

Millicom International Cellular (TIGO) at 438.36% clears its industry range for EPS growth, a much stronger earnings trajectory than Telefônica Brasil (VIV) at 13.02%, which is closer to a typical peer reading.

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

Growth Metrics

Growth metrics for Millicom International Cellular (TIGO) and Telefônica Brasil (VIV)
MetricTIGOVIV
Revenue Growth (YoY)0.26%6.71%
Revenue Growth (3Y CAGR)1.14%7.45%
EPS Growth (YoY)438.36%13.02%
EPS Growth (3Y CAGR)83.60%16.12%

Financial Strength

Current Ratio (MRQ)

Telefônica Brasil (VIV) at 0.95 keeps current ratio within its industry’s typical mid-range, while Millicom International Cellular (TIGO) at 0.56 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for TIGO.

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

VIV

Telecommunication Services industry group

0.95

Max
2.85
Q3
1.64
Median
0.97
VIV
0.95
Q1
0.78
Min
0.26
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV): A comparison of their current ratio against the Telecommunication Services industry group benchmark.

Debt / Equity (MRQ)

Telefônica Brasil (VIV) at 0.30 keeps leverage in the lower quartile, while Millicom International Cellular (TIGO) at 5.29 is above its industry debt-to-equity ratio range.

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

VIV

Telecommunication Services industry group

0.30

Max
3.94
Q3
2.11
Median
1.32
Q1
0.65
VIV
0.30
Min
0.00
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV): A comparison of their debt-to-equity ratio against the Telecommunication Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Millicom International Cellular (TIGO) and Telefônica Brasil (VIV)
MetricTIGOVIV
Current Ratio (MRQ)0.560.95
Debt / Equity (MRQ)5.290.30
Net Debt / EBITDA3.150.56

Dividends

Dividend Yield (TTM)

Both Millicom International Cellular (TIGO) at 3.79% and Telefônica Brasil (VIV) at 4.81% offer top-quartile dividend income relative to share price within their industries.

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%

VIV

Telecommunication Services industry group

4.81%

Max
6.10%
VIV
4.81%
Q3
2.63%
Median
0.00%
Q1
0.00%
Min
0.00%
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV): A comparison of their dividend yield against the Telecommunication Services industry group benchmark.

Dividend Payout Ratio (TTM)

Telefônica Brasil (VIV) reports payout ratio above 100% at 120.03%, meaning dividends exceeded current-period earnings and sustainability needs extra context. Meanwhile Millicom International Cellular (TIGO) reports 88.91%, ranking against industry peers normally.

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%

VIV

Telecommunication Services industry group

120.03%

Max
121.72%
VIV
120.03%
Q3
68.18%
Median
4.06%
Q1
0.00%
Min
0.00%
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV): A comparison of their payout ratio against the Telecommunication Services industry group benchmark.

Dividend Metrics

Dividend metrics for Millicom International Cellular (TIGO) and Telefônica Brasil (VIV)
MetricTIGOVIV
Dividend Yield (TTM)3.79%4.81%
Dividend Payout Ratio (TTM)88.91%120.03%

Valuation

P/E Ratio (TTM)

Telefônica Brasil (VIV) at 14.65 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.

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

VIV

Telecommunication Services industry group

14.65

Max
30.40
Q3
23.75
VIV
14.65
Median
13.30
Q1
8.65
Min
2.50
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV): A comparison of their P/E ratio against the Telecommunication Services industry group benchmark.

P/S Ratio (TTM)

Telefônica Brasil (VIV) at 0.30 sits in the cheaper P/S ratio quartile while Millicom International Cellular (TIGO) at 1.72 prices around its industry’s middle — VIV costs less per dollar of sales, though read it alongside growth and margins.

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

VIV

Telecommunication Services industry group

0.30

Max
3.01
Q3
1.73
Median
0.81
Q1
0.36
VIV
0.30
Min
0.00
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV): A comparison of their P/S ratio against the Telecommunication Services industry group benchmark.

P/B Ratio (MRQ)

Telefônica Brasil (VIV) at 1.40 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.

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

VIV

Telecommunication Services industry group

1.40

Max
8.10
Q3
3.98
Median
1.53
VIV
1.40
Q1
0.65
Min
-2.39
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Millicom International Cellular (TIGO) vs. Telefônica Brasil (VIV): A comparison of their P/B ratio against the Telecommunication Services industry group benchmark.

Valuation Metrics

Valuation metrics for Millicom International Cellular (TIGO) and Telefônica Brasil (VIV)
MetricTIGOVIV
P/E Ratio (TTM)24.7014.65
P/S Ratio (TTM)1.720.30
P/B Ratio (MRQ)6.241.40
Free Cash Flow Yield (TTM)14.20%68.91%