NYSE : TEO
Telecom Argentina S.A. — Financial statements
Communication Services · Telecom Services · Argentina
Last price 10.61 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.93B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Telecom Argentina S.A. (TEO) reported revenue of 8.93T ARS (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 8.93T | 8.33T | 5.44T | 5.90T | 6.03T | 2.58T |
| Cost of Revenue | 2.10T | 2.05T | 1.45T | 1.57T | 1.58T | 695.18B |
| Gross Profit | 6.82T | 6.28T | 3.99T | 4.33T | 4.45T | 1.89T |
| Selling, General & Admin | 2.41T | 2.40T | 1.65T | 1.82T | 1.88T | 706.33B |
| Other Operating Expenses | 1.34T | 1.14T | 668.87B | 663.67B | 666.19B | 279.21B |
| Operating Expenses | 5.98T | 5.73T | 4.16T | 4.63T | 4.76T | 1.85T |
| Operating Income | 844.48B | 546.49B | -170.43B | -295.62B | -308.68B | 37.42B |
| Interest Expense | -505.41B | -449.52B | -173.84B | -167.52B | -123.66B | -103.21B |
| Interest & Investment Income | 31.96B | 44.20B | 16.00B | |||
| Earnings From Equity Investments | 31.41B | -3.74B | -15.09B | -5.41B | 6.77B | 2.40B |
| Currency Exchange Gain (Loss) | 644.51B | -327.34B | 2.47T | -1.96T | 358.77B | 325.99B |
| Other Non Operating Income (Expenses) | 158.01B | 50.35B | -163.76B | 581.94B | 370.10B | 59.94B |
| EBT Excluding Unusual Items | 1.17T | -183.76B | 1.98T | -1.80T | 319.31B | 322.52B |
| Impairment of Goodwill | -2.02T | -4.04B | ||||
| Gain (Loss) on Sale of Investments | 108.37B | 88.47B | -59.72B | 184.26B | -104.90B | 8.61B |
| Asset Writedown | -27.01B | -27.01B | 1.46B | -900.00M | -18.48B | -3.74B |
| Legal Settlements | -69.44B | -69.44B | -23.70B | -61.74B | -98.36B | -47.90B |
| Other Unusual Items | 3.46B | -2.29B | -332.00M | -13.05B | ||
| Pretax Income | 1.18T | -191.74B | 1.90T | -1.68T | -1.92T | 262.40B |
| Income Tax Expense | 360.29B | -46.43B | 538.24B | -968.99B | -219.21B | 202.10B |
| Earnings From Continuing Operations | 824.63B | -145.30B | 1.36T | -715.27B | -1.70T | 60.29B |
| Minority Interest in Earnings | -28.84B | -24.70B | -27.43B | -23.04B | -18.14B | -7.74B |
| Net Income | 795.80B | -170.01B | 1.33T | -738.31B | -1.72T | 52.56B |
| Net Income to Common | 795.80B | -170.01B | 1.33T | -738.31B | -1.72T | 52.56B |
| Shares Outstanding (Basic) | 2.15B | 2.15B | 2.15B | 2.15B | 2.15B | 2.15B |
| Shares Outstanding (Diluted) | 2.15B | 2.15B | 2.15B | 2.15B | 2.15B | 2.15B |
| EPS (Basic) | 369.50 | -78.94 | 618.38 | -342.81 | -798.15 | 24.40 |
| EPS (Diluted) | 369.50 | -78.94 | 618.38 | -342.81 | -798.15 | 24.40 |
| Free Cash Flow | 1.30T | 1.03T | 609.56B | 1.01T | 800.37B | 342.42B |
| Free Cash Flow Per Share | 603.88 | 478.62 | 283.03 | 470.54 | 371.62 | 158.99 |
| Dividend Per Share | 13.63 | 13.63 | ||||
| Gross Margin | 76.45% | 75.42% | 73.29% | 73.45% | 73.78% | 73.07% |
| Operating Margin | 9.46% | 6.56% | -3.13% | -5.01% | -5.12% | 1.45% |
| Profit Margin | 8.91% | -2.04% | 24.47% | -12.52% | -28.50% | 2.04% |
| Free Cash Flow Margin | 14.57% | 12.38% | 11.20% | 17.18% | 13.27% | 13.27% |
| EBITDA | 2.60T | 2.27T | 1.28T | 1.52T | 1.57T | 789.24B |
| EBITDA Margin | 29.15% | 27.23% | 23.47% | 25.70% | 26.07% | 30.58% |
| D&A For EBITDA | 1.76T | 1.72T | 1.45T | 1.81T | 1.88T | 751.82B |
| EBIT | 844.48B | 546.49B | -170.43B | -295.62B | -308.68B | 37.42B |
| EBIT Margin | 9.46% | 6.56% | -3.13% | -5.01% | -5.12% | 1.45% |
| Effective Tax Rate | 30.41% | 28.37% | 77.02% |
Balance sheet
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 401.24B | 469.05B | 418.75B | 424.36B | 124.72B | 38.66B |
| Short-Term Investments | 35.98B | 27.69B | 29.20B | 329.26B | 26.07B | 21.01B |
| Trading Asset Securities | 519.47B | 295.38B | 14.98B | 365.00M | ||
| Cash & Short-Term Investments | 956.69B | 792.11B | 462.92B | 753.61B | 151.16B | 59.67B |
| Accounts Receivable | 813.28B | 799.19B | 389.38B | 352.89B | 117.14B | 43.93B |
| Other Receivables | 210.21B | 63.51B | 25.05B | 44.19B | 32.63B | 3.56B |
| Receivables | 1.02T | 869.68B | 414.43B | 397.09B | 149.77B | 47.49B |
| Inventory | 87.74B | 79.53B | 79.51B | 83.74B | 20.08B | 6.07B |
| Prepaid Expenses | 68.25B | 26.83B | 24.97B | 17.06B | 9.94B | |
| Other Current Assets | 27.97B | 24.24B | 9.31B | 21.25B | 13.76B | 3.73B |
| Total Current Assets | 2.10T | 1.83T | 993.01B | 1.28T | 351.83B | 126.91B |
| Property, Plant & Equipment | 8.71T | 7.40T | 6.24T | 6.51T | 2.64T | 935.81B |
| Long-Term Investments | 124.11B | 14.70B | 17.90B | 63.27B | 20.69B | 6.28B |
| Goodwill | 5.19T | 4.44T | 4.44T | 4.10T | 1.54T | 738.46B |
| Other Intangible Assets | 3.03T | 2.59T | 2.48T | 3.04T | 783.19B | 276.49B |
| Long-Term Accounts Receivable | 976.00M | 940.00M | 568.00M | 670.00M | 368.00M | 140.00M |
| Long-Term Deferred Tax Assets | 12.28B | 48.43B | 43.40B | 36.69B | 7.70B | 1.28B |
| Long-Term Deferred Charges | 77.30B | 11.14B | -635.66B | 10.30B | 4.24B | |
| Other Long-Term Assets | 102.09B | 212.21B | 168.32B | 152.25B | 32.43B | 12.20B |
| Total Assets | 19.26T | 16.62T | 14.39T | 14.55T | 5.38T | 2.10T |
| Accounts Payable | 1.09T | 1.11T | 584.98B | 947.79B | 277.95B | 95.90B |
| Accrued Expenses | 702.10B | 678.13B | 416.91B | 346.04B | 148.18B | 51.09B |
| Short-Term Debt | 284.49B | 341.24B | 162.39B | 62.45B | 23.70B | 23.73B |
| Current Portion of Long-Term Debt | 823.37B | 1.28T | 1.25T | 1.44T | 395.33B | 102.63B |
| Current Portion of Leases | 148.14B | 149.03B | 98.05B | 76.32B | 28.66B | 11.94B |
| Current Income Taxes Payable | 410.42B | 66.74B | 6.00B | 4.15B | 976.00M | 27.13B |
| Current Unearned Revenue | 62.06B | 34.51B | 25.71B | 12.36B | 5.24B | |
| Other Current Liabilities | 175.46B | 156.18B | 23.80B | 41.31B | 10.68B | 4.89B |
| Total Current Liabilities | 3.63T | 3.84T | 2.58T | 2.94T | 897.82B | 322.54B |
| Long-Term Debt | 4.50T | 3.82T | 2.38T | 4.16T | 1.04T | 393.58B |
| Long-Term Leases | 262.63B | 239.27B | 182.12B | 159.12B | 61.33B | 24.91B |
| Long-Term Unearned Revenue | 31.55B | 4.43B | 4.05B | 2.60B | 1.16B | |
| Pension & Post-Retirement Benefits | 21.10B | 11.27B | 5.97B | 2.74B | 1.26B | |
| Long-Term Deferred Tax Liabilities | 1.34T | 1.18T | 1.86T | 1.22T | 797.87B | 263.42B |
| Other Long-Term Liabilities | 606.44B | 508.98B | 107.33B | 93.00B | 47.15B | 23.81B |
| Total Liabilities | 10.33T | 9.64T | 7.11T | 8.58T | 2.85T | 1.03T |
| Common Stock | 2.15B | 2.15B | 2.15B | 2.15B | 2.15B | 2.15B |
| Additional Paid-In Capital | 3.69T | 3.27T | 3.40T | 3.35T | 2.12T | 709.28B |
| Retained Earnings | 1.05T | 42.73B | 1.48T | -549.02B | -596.19B | 32.33B |
| Comprehensive Income & Other | 4.09T | 3.55T | 2.26T | 2.95T | 957.89B | 310.65B |
| Total Common Equity | 8.83T | 6.86T | 7.14T | 5.76T | 2.48T | 1.05T |
| Minority Interest | 96.22B | 119.45B | 144.41B | 205.97B | 50.48B | 16.70B |
| Shareholders' Equity | 8.93T | 6.98T | 7.28T | 5.96T | 2.53T | 1.07T |
| Total Liabilities & Equity | 19.26T | 16.62T | 14.39T | 14.55T | 5.38T | 2.10T |
| Total Debt | 6.01T | 5.83T | 4.07T | 5.89T | 1.55T | 556.79B |
| Net Cash (Debt) | -5.06T | -5.03T | -3.60T | -5.14T | -1.40T | -497.11B |
| Net Cash Per Share | -2,348.30 | -2,337.19 | -1,673.81 | -2,385.75 | -651.04 | -230.82 |
| Filing Date Shares Outstanding | 2.15B | 2.15B | 2.15B | 2.15B | 2.15B | 2.15B |
| Total Common Shares Outstanding | 2.15B | 2.15B | 2.15B | 2.15B | 2.15B | 2.15B |
| Working Capital | -1.54T | -2.00T | -1.58T | -1.66T | -545.99B | -195.64B |
| Book Value Per Share | 4,100.05 | 3,187.03 | 3,313.62 | 2,673.47 | 1,151.45 | 489.59 |
| Tangible Book Value | 614.17B | -174.36B | 216.26B | -1.39T | 155.96B | 39.48B |
| Tangible Book Value Per Share | 285.17 | -80.96 | 100.41 | -643.53 | 72.42 | 18.33 |
| Machinery | 4.75T | 4.63T | 3.60T | 1.25T | 363.29B | |
| Construction In Progress | 337.49B | 198.71B | 423.54B | 183.24B | 76.30B |
Cash flow statement
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 795.80B | -170.01B | 1.33T | -738.31B | -1.72T | 52.56B |
| Depreciation & Amortization | 2.03T | 2.00T | 1.71T | 2.02T | 2.06T | 814.48B |
| Other Amortization | 48.37B | 48.37B | 18.14B | |||
| Loss (Gain) From Sale of Assets | 149.94B | 147.29B | 2.22B | 1.45B | 39.98B | 12.49B |
| Asset Writedown & Restructuring Costs | 197.42B | 176.05B | 99.86B | 113.82B | 2.18T | 61.37B |
| Loss (Gain) on Equity Investments | -31.41B | 3.74B | 15.09B | 5.41B | -6.77B | -2.40B |
| Other Operating Activities | -11.81B | 587.80B | -1.86T | -157.25B | -814.49B | -151.34B |
| Change in Accounts Receivable | -230.63B | -224.67B | -343.13B | -509.80B | -273.44B | -80.73B |
| Change in Inventory | 72.53B | 71.37B | -8.40B | -59.78B | -19.44B | 8.69B |
| Change in Accounts Payable | 317.89B | -17.96B | 27.49B | 968.99B | 457.74B | 69.83B |
| Change in Other Net Operating Assets | -159.77B | -236.24B | 78.37B | 127.83B | -131.45B | 3.85B |
| Operating Cash Flow | 3.18T | 2.39T | 1.07T | 1.77T | 1.77T | 788.80B |
| Capital Expenditures | -1.88T | -1.36T | -457.95B | -756.09B | -969.80B | -446.38B |
| Sale of Property, Plant & Equipment | 32.46B | 37.20B | 7.78B | 3.31B | 2.96B | 953.00M |
| Cash Acquisitions | 219.68B | -1.30T | -18.24B | -6.47B | -3.37B | |
| Divestitures | -12.76B | 33.85B | 5.19B | 69.09B | ||
| Sale (Purchase) of Intangibles | -120.73B | -135.57B | -60.62B | -571.70B | -43.17B | -15.41B |
| Investment in Securities | -585.91B | -289.74B | 13.93B | -366.12B | -363.56B | -238.90B |
| Other Investing Activities | 3.06B | 1.73B | 5.54B | -3.70B | 5.09B | 1.42B |
| Investing Cash Flow | -2.34T | -3.01T | -504.38B | -1.63T | -1.37T | -698.31B |
| Long-Term Debt Issued | 3.96T | 1.57T | 1.11T | 704.81B | 389.53B | |
| Long-Term Debt Repaid | -2.79T | -1.63T | -781.32B | -691.23B | -345.11B | |
| Lease Payments | -193.76B | -196.18B | -121.02B | -126.59B | -126.21B | -40.01B |
| Net Debt Issued (Repaid) | -393.28B | 1.17T | -56.78B | 330.65B | 13.58B | 44.43B |
| Common Dividends Paid | -20.29B | -20.29B | -4.51B | |||
| Other Financing Activities | -431.70B | -531.99B | -476.81B | -606.11B | -392.38B | -163.03B |
| Financing Cash Flow | -845.27B | 612.96B | -533.59B | -275.46B | -378.80B | -123.12B |
| Foreign Exchange Rate Adjustments | -40.30B | 63.12B | -68.50B | 238.05B | -8.04B | -16.60B |
| Net Cash Flow | -49.21B | 50.30B | -38.95B | 100.40B | 11.47B | -49.23B |
| Free Cash Flow | 1.30T | 1.03T | 609.56B | 1.01T | 800.37B | 342.42B |
| Free Cash Flow Margin | 14.57% | 12.38% | 11.20% | 17.18% | 13.27% | 13.27% |
| Free Cash Flow Per Share | 603.88 | 478.62 | 283.03 | 470.54 | 371.62 | 158.99 |
| Levered Free Cash Flow | 810.52B | 1.11T | 690.92B | 988.37B | 910.27B | 380.97B |
| Unlevered Free Cash Flow | 1.13T | 1.39T | 799.56B | 1.09T | 987.56B | 445.48B |
| Free Cash Flow After Leases | 1.11T | 834.62B | 488.54B | 886.80B | 674.15B | 302.41B |
| Cash Interest Paid | 377.60B | 514.35B | 428.01B | 592.90B | 382.22B | 162.67B |
| Cash Income Tax Paid | 58.20B | 15.01B | 9.70B | 14.67B | 83.77B | 13.77B |
| Change in Working Capital | 19.00M | -407.50B | -245.67B | 527.23B | 33.41B | 1.63B |
Ratios
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.93B | 5.23B | 6.41B | 3.68B | 4.46B | 4.24B |
| Enterprise Value | 8.29B | 8.61B | 8.95B | 4.77B | 6.70B | 6.66B |
| Last Close Price | 10.61 | 11.61 | 12.31 | 6.88 | 5.03 | 4.44 |
| PE Ratio | 8.88 | 4.96 | 8.29 | |||
| PS Ratio | 0.82 | 0.91 | 1.22 | 0.51 | 0.13 | 0.17 |
| PB Ratio | 0.82 | 1.09 | 0.91 | 0.50 | 0.31 | 0.41 |
| P/TBV Ratio | 11.88 | 30.57 | 5.06 | 11.04 | ||
| P/FCF Ratio | 5.85 | 7.37 | 10.85 | 2.94 | 0.99 | 1.27 |
| P/OCF Ratio | 2.39 | 3.18 | 6.19 | 1.68 | 0.45 | 0.55 |
| EV/Sales Ratio | 1.37 | 1.50 | 1.70 | 0.65 | 0.20 | 0.27 |
| EV/EBITDA Ratio | 4.71 | 5.51 | 7.23 | 2.54 | 0.76 | 0.87 |
| EV/EBIT Ratio | 14.52 | 22.87 | 18.29 | |||
| EV/FCF Ratio | 9.83 | 12.12 | 15.14 | 3.80 | 1.48 | 2.00 |
| Debt / Equity Ratio | 0.67 | 0.83 | 0.56 | 0.99 | 0.61 | 0.52 |
| Debt / EBITDA Ratio | 2.09 | 2.29 | 2.64 | 3.42 | 0.89 | 0.65 |
| Debt / FCF Ratio | 4.62 | 5.65 | 6.67 | 5.81 | 1.94 | 1.63 |
| Net Debt / Equity Ratio | 0.57 | 0.72 | 0.49 | 0.86 | 0.55 | 0.46 |
| Net Debt / EBITDA Ratio | 1.94 | 2.22 | 2.82 | 3.39 | 0.89 | 0.63 |
| Net Debt / FCF Ratio | 3.89 | 4.88 | 5.91 | 5.07 | 1.75 | 1.45 |
| Asset Turnover | 0.53 | 0.54 | 0.38 | 0.59 | 1.61 | 1.59 |
| Inventory Turnover | 20.19 | 25.75 | 17.81 | 30.17 | 120.96 | 118.98 |
| Quick Ratio | 0.55 | 0.43 | 0.34 | 0.39 | 0.34 | 0.33 |
| Current Ratio | 0.58 | 0.48 | 0.39 | 0.44 | 0.39 | 0.39 |
| Return on Equity (ROE) | 10.83% | -2.04% | 20.52% | -16.84% | -94.45% | 7.27% |
| Return on Assets (ROA) | 3.12% | 2.20% | -0.74% | -1.85% | -5.15% | 1.44% |
| Return on Invested Capital (ROIC) | 4.35% | 4.77% | -1.11% | -3.93% | -11.22% | 0.71% |
| Return on Capital Employed (ROCE) | 5.40% | 4.30% | -1.40% | -2.50% | -6.90% | 2.10% |
| Earnings Yield | 11.26% | -2.24% | 20.14% | -24.79% | -217.78% | 12.06% |
| FCF Yield | 17.10% | 13.57% | 9.22% | 34.02% | 101.40% | 78.59% |
| Dividend Yield | 2.49% | 0.39% | ||||
| Payout Ratio | 22.24% | 8.58% | ||||
| Total Shareholder Return | 2.49% | 0.39% |