Telecom Argentina S.A.
- Open
- 13.07
- Day high
- 13.36
- Day low
- 13.07
- Prev close
- 13.06
- Volume
- 195K
- Mkt cap
- $5.7B
- P/E (TTM)
- 11.9
- EPS (TTM)
- $1.12
- P/B
- 1.0
- P/S
- 0.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$2K over the last 3 months (1 open-market buy, 1 sale)
- 🏛Institutions reducing (13F)
Telecom Argentina S.A. (TEO) is a Communication Services company listed on NYSE. The stock is up 57% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 1 sale (SEC Form 4). Drillr has 2 published research articles covering TEO.
Telecom Argentina S.A. (TEO) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TEO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 12, 2026 | $0.27 | $0.29 | +8.2% | $1.7B | +1.2% |
| May 12, 2026 | $0.28 | $1.04 | +271.4% | $1.7B | +6.0% |
| Mar 14, 2026 | $0.02 | $0.19 | +773.2% | $1.9B | — |
| Aug 12, 2025 | $-0.33 | $-0.36 | -9.1% | $1.5B | -2.2% |
| Feb 28, 2025 | $-0.47 | $0.17 | +136.2% | $1.2B | +24.2% |
| Aug 15, 2024 | $0.45 | $0.15 | -66.7% | $940M | +24.1% |
| Mar 11, 2024 | $-2.24 | $-2.16 | +3.6% | $928M | -0.2% |
| Nov 9, 2023 | $-0.40 | $0.23 | +157.5% | $781M | +12.7% |
| Mar 20, 2023 | $0.15 | $0.05 | -66.7% | $13.6B | +14.7% |
| Nov 9, 2022 | $-0.21 | $-0.67 | -219.0% | $148.2B | +18.1% |
| Mar 9, 2022 | $0.11 | $0.19 | +72.7% | — | — |
| Dec 31, 2020 | — | $-0.11 | — | $1.1B | — |
TEO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 26, 2026 | Gonzalez Baruki Luis Albertodirector | Sell | 188,500 | $2.78 |
| Jun 4, 2026 | Urricelqui Alejandro Albertodirector | Buy | 38,890 | $13.43 |
Source: TEO SEC Form 4 filings, latest Aug 26, 2026. For informational purposes only — not investment advice.
See the full TEO insider & 13F page →TEO research & analysis
Supervielle (SUPV), Banco Macro (BMA): Argentine Cost Cuts Now Need Cash
Supervielle, Banco Macro and Telecom Argentina disclosed in August 2026 that disinflation ended peso wage-bill erosion, so cost cuts now require cash severance.
BMAEDNIRSBanco Macro (BMA), Supervielle (SUPV): Argentine Dollar Loans Reach Peso Earners
Argentina dropped the export-revenue test on bank dollar loans and capped each bank at 15% of its FX deposits, about $5.2bn, and Banco Macro now guides only its dollar book to grow.
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Telecom Argentina S.A. company profile
Overview
Telecom Argentina S.A. (NYSE:TEO) is Argentina's leading telecommunications company, founded in 1979 and originally known as Cablevisión S.A. before changing its name in January 2018. The company has been publicly traded since December 1994 and is headquartered in Buenos Aires. As the dominant telecommunications provider in Argentina, Telecom Argentina serves over 21 million mobile subscribers and 4.1 million broadband customers across the country, while also operating in Paraguay, Uruguay, and Chile. The company has evolved from a traditional fixed-line telephone operator into a comprehensive digital services provider offering mobile communications, broadband internet, pay television, and fintech services.
Business
Telecom Argentina operates in the telecommunications services industry, providing essential communication infrastructure and services across Argentina and select international markets. The telecommunications industry serves as the backbone of modern digital communication, enabling voice calls, internet connectivity, data transmission, and entertainment services for both consumers and businesses. The company's core operations are organized into several key segments: Mobile Services (40% of revenues): Operating under the Personal brand, this segment provides cellular voice and data services to 21.2 million subscribers. Mobile telecommunications allow users to make calls, send messages, and access high-speed internet through cellular networks using smartphones and other mobile devices. The company operates both prepaid and postpaid plans, with postpaid customers representing 43% of the mobile base. Broadband Internet (21% of revenues): Provides high-speed internet connectivity to 4.1 million residential and business customers. The company is actively expanding its Fiber-to-the-Home (FTTH) network, which delivers internet through fiber optic cables directly to customers' premises, offering superior speed and reliability compared to traditional copper wire connections. Currently, 18% of broadband subscribers use FTTH technology. Pay Television (18% of revenues): Offers cable television services to 3.3 million subscribers through its Flow platform, which provides traditional cable TV alongside streaming and on-demand content. Flow has grown to 1.5 million unique customers, representing the company's evolution toward digital entertainment platforms. Fixed Voice Services (12% of revenues): Traditional landline telephone services serving 2.8 million customers, though this segment continues to decline as customers migrate to mobile communications. Business-to-Business (B2B) Services (18% of revenues): Provides specialized telecommunications solutions to corporate clients, including dedicated internet access, data center services, interconnection services, and managed network solutions. Equipment Sales and Other Services (remaining revenues): Includes handset sales, fintech services through Personal Pay digital wallet serving nearly 3 million clients, and various value-added services. The company also maintains regional operations in Paraguay (2.4 million mobile customers), Uruguay (pay-TV services), and Chile (cybersecurity services), though these represent a smaller portion of overall revenues.
Revenue model
Telecom Argentina generates revenue through multiple complementary business models that leverage its telecommunications infrastructure investments. The company primarily operates on a subscription-based model for its core services, collecting monthly recurring fees from customers for mobile plans, broadband internet access, and pay-TV services. This creates predictable cash flows, though the company faces the challenge of frequent price adjustments due to Argentina's high inflation environment. For mobile services, the company earns revenue through both prepaid and postpaid plans. Prepaid customers purchase credit in advance for voice, text, and data usage, while postpaid customers pay monthly bills based on their plan and usage. The mobile segment benefits from increasing data consumption, with customers using 11% more mobile data year-over-year, driving higher average revenue per user. The broadband business operates on monthly subscription fees, with pricing tiers based on internet speed. The company's investment in FTTH technology allows it to offer premium high-speed packages at higher price points, improving profit margins. Similarly, the pay-TV business charges monthly subscription fees, with the Flow platform enabling additional revenue through premium content and on-demand services. B2B services generate revenue through customized contracts with enterprise clients, often involving higher-margin specialized services like dedicated connectivity, data center hosting, and managed network solutions. Equipment sales provide additional revenue, particularly smartphone sales that often accompany mobile service contracts. The company's fintech arm, Personal Pay, generates revenue through transaction fees and financial service commissions, representing a growing digital ecosystem that leverages the customer base across other services. Several factors significantly impact Telecom Argentina's margins and profitability. Inflationary pressures in Argentina create both challenges and opportunities - while costs rise rapidly, the company has demonstrated ability to implement frequent price increases to maintain margins. Currency devaluation affects the company positively when it generates peso-denominated revenues while having dollar-denominated debt, creating natural hedging effects. Regulatory changes in telecommunications pricing and spectrum allocation can impact competitive positioning and cost structure. Network investment requirements for 5G deployment and FTTH expansion require significant capital expenditure but enable premium service offerings. Competition from other telecommunications providers and over-the-top services affects pricing power and customer retention, while economic conditions in Argentina influence customer payment behavior and demand for premium services.
Competitive moat
Telecom Argentina possesses a moderate to strong competitive moat built primarily on infrastructure advantages and market position, though this moat faces ongoing challenges in Argentina's dynamic economic environment. The company's most significant competitive advantage stems from its extensive telecommunications infrastructure, including cellular tower networks, fiber optic cables, and data centers that require massive capital investments and years to replicate. This creates substantial barriers to entry for new competitors and switching costs for customers who rely on network coverage and quality. The company benefits from network effects in its integrated service offerings, where customers using multiple services (mobile, broadband, pay-TV) experience higher switching costs and the company achieves better customer lifetime value. The convergent customer strategy, with 2.2 million customers using multiple services, strengthens customer retention and reduces churn rates. Scale advantages provide cost efficiencies in network operations, content acquisition for pay-TV services, and equipment procurement. As Argentina's leading telecommunications provider with over 21 million mobile subscribers, Telecom Argentina can spread fixed infrastructure costs across a large customer base and negotiate favorable terms with suppliers and content providers. The company's spectrum licenses for mobile services represent valuable regulated assets that cannot be easily replicated, particularly its recent 5G spectrum acquisition. These licenses provide exclusive rights to use specific radio frequencies essential for mobile service delivery. However, the moat faces several vulnerabilities. Regulatory risks in Argentina's changing political environment could impact pricing flexibility, foreign exchange policies, or ownership structures. Technology disruption from over-the-top services, satellite internet providers, and alternative communication platforms threatens traditional revenue streams. Economic instability in Argentina creates unpredictable operating conditions that can erode competitive advantages. Competition from other established telecommunications providers and potential new entrants, particularly in mobile services, pressures market share and pricing power. The company must continuously invest in network upgrades and new technologies to maintain its competitive position, requiring ongoing capital expenditure that may not always generate proportional returns. While Telecom Argentina maintains meaningful competitive advantages through its infrastructure and market position, the strength of its moat is moderated by Argentina's challenging economic environment and the rapidly evolving telecommunications landscape.
Risks & safety
Telecom Argentina presents a moderate margin of safety with mixed financial health indicators that reflect both operational strengths and balance sheet concerns typical of emerging market telecommunications companies. Liquidity and Solvency Concerns: • Current ratio of 0.39 indicates potential short-term liquidity pressure, with current liabilities ($1.9 billion) significantly exceeding current assets ($733 million) • Cash and short-term investments of $309 million provide limited cushion relative to current obligations • Debt-to-equity ratio of 0.57 shows moderate leverage, though manageable for a capital-intensive business • Strong operating cash flow of $788 million and free cash flow of $405 million demonstrate cash generation ability despite balance sheet concerns Valuation Metrics: • Price-to-earnings ratio of 6.5x appears attractive, though influenced by currency translation effects • EV/EBITDA of 3.1x suggests reasonable valuation relative to cash generation • Price-to-book ratio of 1.2x indicates modest premium to book value • Graham number calculations suggest potential undervaluation, though negative net-net working capital reflects typical utility-like capital structure Other Considerations: • Revenue growth challenged by Argentina's economic environment, requiring constant price adjustments to maintain real purchasing power • EBITDA margins around 30% demonstrate operational efficiency despite inflationary pressures • Capital expenditure requirements for 5G and FTTH deployment may pressure free cash flow in coming years • Currency exposure creates both risks and opportunities given peso volatility and dollar-denominated debt components
Recent development
Over the past few years, Telecom Argentina has undergone significant strategic transformation to adapt to changing market conditions and technological evolution. The company has pivoted from a traditional telecommunications provider to a comprehensive digital services ecosystem, with several key strategic initiatives driving this transformation. Network Infrastructure Modernization represents the company's largest strategic investment. The deployment of 5G technology began with spectrum acquisition and initial network rollout, targeting 200 sites by end of 2024. Simultaneously, the company has aggressively expanded its FTTH network, with fiber-to-the-home services now representing 18% of the broadband subscriber base and growing rapidly. This infrastructure investment enables premium service offerings and positions the company for future bandwidth demands. Digital Ecosystem Expansion has become a central strategic focus. The Flow platform evolution from traditional cable TV to a comprehensive streaming and on-demand service has attracted 1.5 million unique customers, growing 11% year-over-year. The Personal Pay fintech platform has scaled to nearly 3 million clients, creating a digital payments ecosystem that leverages the existing customer base and generates additional revenue streams beyond traditional telecommunications. Operational Efficiency Initiatives have been crucial for margin preservation amid Argentina's inflationary environment. The company has successfully implemented monthly price adjustment mechanisms to maintain real pricing power, while simultaneously reducing operational costs through digitalization. Customer service interactions have shifted to 60% digital platforms, reducing contact center costs and improving service efficiency. Financial Strategy Evolution has focused on liability management to optimize the debt structure. The successful $500 million bond issuance in 2024 demonstrated strong investor confidence and enabled refinancing of shorter-term obligations. The company has actively managed its debt profile to extend maturities and reduce financing costs while maintaining investment-grade metrics. Geographic Diversification has expanded through regional operations, with Paraguay achieving 35% broadband market share and continued growth in mobile services. This diversification provides some hedge against Argentina-specific economic risks while leveraging operational expertise in similar markets. The convergent customer strategy has intensified, with integrated service bundles designed to increase customer lifetime value and reduce churn. The company now serves 2.2 million customers across multiple service categories, creating stronger customer relationships and improved unit economics.
TEO company profile · for informational purposes only — not investment advice.
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