TIGO Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	13.33B EUR	15.22B EUR	12.56B EUR	9.26B EUR
Enterprise Value	26.02B EUR	26.26B EUR	23.1B EUR	17.18B EUR
Valuation Multiples
Trailing P/E	20.07x	22.89x	10.19x	8.25x
Forward P/E	11.28x	--	--	--
Price to Sales	1.84x	2.1x	1.95x	2.09x
Price to Book	5.43x	6.2x	4x	2.54x
EV/Revenue	3.59x	3.63x	3.6x	3.87x
EV/EBITDA	8.4x	8.22x	8.04x	8.45x
Price to FCF (P/FCF)	7.09x	12.51x	11.88x	11.76x
EV/FCF	13.85x	21.58x	21.86x	21.81x
FCF Yield	14.1%	8%	8.42%	8.51%