Millicom International Cellular SA (TIGO) — Working Capital to Net Assets Ratio
Millicom International Cellular SA (TIGO) has a Working Capital to Net Assets ratio of -11.3% as of December 2025. Working capital of $-410.00 Million (current assets of $2.98 Billion minus current liabilities of $3.39 Billion) is measured against net assets of $3.62 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See TIGO equity financing ratio to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Millicom International Cellular SA Working Capital to Net Assets (1993–2025)
This chart shows how Millicom International Cellular SA's Working Capital to Net Assets ratio has evolved across 33 annual periods from 1993 to 2025. As of December 2025, the ratio stands at -11.3%, reflecting working capital of $-410.00 Million against net assets of $3.62 Billion USD. Check Millicom International Cellular SA tangible equity quality to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Millicom International Cellular SA (1993–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Millicom International Cellular SA from 1993 to 2025, covering 33 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see Millicom International Cellular SA market cap and net worth.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -11.3% | $-410.00 Million | $3.62 Billion | $2.98 Billion | $3.39 Billion | ▲ +9.2 pp |
| 2024 | -20.5% | $-734.00 Million | $3.57 Billion | $2.38 Billion | $3.12 Billion | ▼ -8.5 pp |
| 2023 | -12.0% | $-413.00 Million | $3.44 Billion | $1.92 Billion | $2.33 Billion | ▼ -10.5 pp |
| 2022 | -1.5% | $-55.00 Million | $3.63 Billion | $2.06 Billion | $2.12 Billion | ▲ +80.1 pp |
| 2021 | -81.6% | $-2.23 Billion | $2.74 Billion | $2.25 Billion | $4.49 Billion | ▼ -68.4 pp |
| 2020 | -13.1% | $-299.00 Million | $2.27 Billion | $2.31 Billion | $2.61 Billion | ▼ -22.1 pp |
| 2019 | 9.0% | $240.00 Million | $2.68 Billion | $2.66 Billion | $2.42 Billion | ▲ +50.1 pp |
| 2018 | -41.1% | $-1.15 Billion | $2.79 Billion | $1.53 Billion | $2.68 Billion | ▼ -33.5 pp |
| 2017 | -7.6% | $-250.00 Million | $3.28 Billion | $1.82 Billion | $2.07 Billion | ▼ -0.8 pp |
| 2016 | -6.8% | $-230.00 Million | $3.37 Billion | $1.67 Billion | $1.90 Billion | ▲ +8.6 pp |
| 2015 | -15.4% | $-574.00 Million | $3.73 Billion | $1.88 Billion | $2.46 Billion | ▲ +41.6 pp |
| 2014 | -57.0% | $-2.12 Billion | $3.73 Billion | $2.44 Billion | $4.57 Billion | ▼ -50.7 pp |
| 2013 | -6.3% | $-131.00 Million | $2.08 Billion | $2.70 Billion | $2.83 Billion | ▲ +37.1 pp |
| 2012 | -43.4% | $-1.01 Billion | $2.34 Billion | $1.97 Billion | $2.98 Billion | ▼ -5.9 pp |
| 2011 | -37.5% | $-918.00 Million | $2.45 Billion | $1.78 Billion | $2.70 Billion | ▼ -9.1 pp |
| 2010 | -28.5% | $-680.17 Million | $2.39 Billion | $1.83 Billion | $2.51 Billion | ▼ -50.3 pp |
| 2009 | 21.9% | $505.39 Million | $2.31 Billion | $2.08 Billion | $1.57 Billion | ▲ +45.6 pp |
| 2008 | -23.7% | $-392.01 Million | $1.65 Billion | $1.36 Billion | $1.76 Billion | ▼ -5.4 pp |
| 2007 | -18.3% | $-250.70 Million | $1.37 Billion | $1.75 Billion | $2.00 Billion | ▼ -57.0 pp |
| 2006 | 38.7% | $225.37 Million | $582.39 Million | $1.13 Billion | $901.85 Million | ▼ -60.9 pp |
| 2005 | 99.6% | $332.31 Million | $333.78 Million | $1.24 Billion | $909.01 Million | ▲ +26.3 pp |
| 2004 | 73.2% | $205.39 Million | $280.44 Million | $711.27 Million | $505.88 Million | ▲ +79.5 pp |
| 2003 | -6.2% | $3.64 Million | $-58.61 Million | $407.06 Million | $403.41 Million | ▼ -4.0 pp |
| 2002 | -2.2% | $5.97 Million | $-271.53 Million | $381.83 Million | $375.86 Million | ▲ +154.7 pp |
| 2001 | -156.9% | $-124.17 Million | $79.16 Million | $345.02 Million | $469.19 Million | ▼ -317.6 pp |
| 2000 | 160.7% | $560.56 Million | $348.86 Million | $1.21 Billion | $651.03 Million | ▲ +183.5 pp |
| 1999 | -22.8% | $-68.20 Million | $299.12 Million | $288.85 Million | $357.05 Million | ▼ -46.5 pp |
| 1998 | 23.7% | $68.78 Million | $289.86 Million | $451.94 Million | $383.16 Million | ▼ -64.1 pp |
| 1997 | 87.8% | $99.00 Million | $112.70 Million | $361.00 Million | $262.00 Million | ▼ -111.7 pp |
| 1996 | 199.5% | $296.90 Million | $148.80 Million | $468.90 Million | $172.00 Million | ▲ +223.0 pp |
| 1995 | -23.5% | $-39.30 Million | $167.50 Million | $107.50 Million | $146.80 Million | ▼ -11.7 pp |
| 1994 | -11.7% | $-14.80 Million | $126.00 Million | $75.40 Million | $90.20 Million | ▲ +66.6 pp |
| 1993 | -78.3% | $-72.30 Million | $92.30 Million | $39.60 Million | $111.90 Million | — |