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TEO

Telecom Argentina S.A.

TEO

Telecom Argentina S.A. • NYSE
$12.62 ▲ 4.99% (+0.60)
Market Cap $5.44 B
52w High $15.54
52w Low $6.43
Dividend Yield 0.05%
P/E -15.39
Volume 245.23K
Outstanding Shares 430.74M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.065T ▲ $889.513B ▼ $-200.363B ▼ -9.702% ▼ $-465.15 ▼ $350.158B ▲
Q2-2025 $1.912T ▲ $1.389T ▲ $-178.207B ▼ -9.322% ▼ $-413.75 ▼ $285.485B ▼
Q1-2025 $1.363T ▲ $906.337B ▼ $89.06B ▲ 6.532% ▲ $206.75 ▲ $612.349B ▲
Q4-2024 $1.285T ▲ $983.506B ▲ $73.765B ▲ 5.739% ▲ $171.25 ▲ $501.096B ▲
Q3-2024 $983.141B $760.776B $-16.361B -1.664% $-38 $419.13B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $673.913B ▲ $15.63T ▲ $9.092T ▲ $6.437T ▲
Q2-2025 $368.757B ▼ $14.559T ▲ $8.258T ▲ $6.224T ▲
Q1-2025 $518.846B ▲ $14.036T ▲ $7.941T ▲ $6.019T ▲
Q4-2024 $351.903B ▲ $10.942T ▲ $5.407T ▲ $5.425T ▲
Q3-2024 $338.147B $10.194T $4.956T $5.139T

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-178.207B ▼ $413.324B ▲ $-251.259B ▲ $-279.951B ▼ $-81.393B ▼ $173.433B ▲
Q1-2025 $94.415B ▲ $273.544B ▼ $-1.258T ▼ $1.06T ▲ $94.026B ▼ $103.978B ▼
Q4-2024 $81.34B ▲ $332.49B ▲ $-133.623B ▼ $-93.04B ▲ $135.509B ▲ $174.079B ▲
Q3-2024 $0 ▼ $150.347B ▼ $76.459B ▲ $-154.39B ▲ $17.802B ▲ $103.685B ▲
Q2-2024 $54.608B $191.221B $23.372B $-264.798B $14.404B $42.318B

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the five‑year period but has been very volatile, which is common in Argentina given inflation, currency swings, and tariff regulation. The core services generate solid gross profit, meaning the basic business of selling connectivity still creates value after direct costs. The main issue is at the operating level: the company has posted recurring operating losses, suggesting that overhead, network maintenance, marketing, and other indirect costs are heavy relative to revenue. EBITDA recently improved sharply, but this looks partly driven by accounting and macro effects rather than a smooth, underlying margin trend. Net income has swung from losses to a strong profit in the latest year, which likely reflects financial items, currency effects, and one‑offs. Overall, the income statement shows a business with strong commercial traction but profitability that is fragile and heavily exposed to Argentina’s macro and regulatory environment.

Balance Sheet

Balance Sheet The balance sheet has expanded a lot over five years, reflecting network investment, inflation, and possibly asset revaluations. Equity has grown meaningfully in the latest year, giving the company a thicker capital cushion than before. Debt is still sizeable, although it has come down from a prior peak, which reduces financial risk somewhat but does not eliminate it. Cash on hand is modest relative to total assets and debt, but it has been trending upward, improving liquidity. The picture is of a capital‑intensive utility‑like business: heavy fixed assets, material leverage, but a stronger equity base now than a few years ago. The key ongoing risk is the combination of high local inflation, currency devaluation, and foreign‑currency debt, which can quickly change the balance sheet profile.

Cash Flow

Cash Flow Despite the accounting swings in profit, cash generation from operations has been consistently positive and reasonably strong. The company has also produced positive free cash flow every year in this period, even while spending heavily on capital expenditures for network and technology upgrades. Investment outlays have been large but relatively steady, showing a long‑term commitment to infrastructure and digital platforms rather than stop‑and‑go spending. Overall, the cash flow statement looks healthier and more stable than the income statement: the core business brings in cash, and that cash has been enough to fund investments with room to spare. The main sensitivities are macro shocks, regulatory limits on pricing, and access to capital markets if external funding is ever needed.

Competitive Edge

Competitive Edge Telecom Argentina holds a leading, arguably dominant, position in the local telecom market, backed by nationwide mobile, broadband, and TV infrastructure. Its scale and network reach create high barriers for smaller rivals, especially in less dense regions where building duplicate networks is expensive. Well‑known consumer brands and the ability to bundle mobile, fixed internet, and entertainment into single packages help keep customers loyal and reduce churn. Planned consolidation with Telefónica’s Argentine operations, if fully realized as described, would further concentrate market share and deepen economies of scale. At the same time, the company operates in a heavily regulated, politically sensitive sector with periodic price controls, and faces competition from other telcos, cable operators, and over‑the‑top streaming services. So the moat is strong in infrastructure and customer reach, but its value is partly capped by regulation and macro instability.

Innovation and R&D

Innovation and R&D The company is clearly trying to evolve from a traditional telecom carrier into a broader digital platform. It is investing in 5G deployment, expanding fiber, and pushing converged offers that mix connectivity with content via its Flow platform. Initiatives like Openxpand, which opens network capabilities to developers through APIs, and its work with IoT and smart‑city solutions, show a push to tap new, higher‑value revenue streams beyond basic data and voice. Personal Pay moves it into fintech, deepening customer relationships and potentially capturing more of the digital payments space. The use of cloud partnerships and AI projects signals an effort to modernize operations and build new services, not just maintain legacy networks. The opportunity is large, but execution risk is high: monetizing 5G, IoT, APIs, and fintech in a volatile economy and under regulatory scrutiny is challenging, and the payoff timelines can be long.

Summary

Telecom Argentina looks like a scale telecom leader with solid cash generation and a strengthening equity base, but with profitability that is uneven and heavily influenced by Argentina’s macro and regulatory conditions. The business produces good gross profit and reliable cash flows, yet persistent operating losses in several years highlight cost pressures and the difficulty of translating revenue growth into stable margins. The balance sheet carries meaningful debt, mitigated by recent deleveraging and equity growth, while cash levels, though improving, remain a key metric to watch. Competitively, the company benefits from nationwide infrastructure, strong brands, and bundled offerings, giving it a durable moat in connectivity, albeit within a tightly regulated and economically volatile market. Strategically, it is leaning into 5G, digital platforms, IoT, fintech, and AI to diversify and move up the value chain. Future performance will hinge on how well it can control costs, navigate regulation and inflation, and convert its innovation and scale advantages into more consistent, sustainable profitability.

NEWS

November 10, 2025 · 10:05 PM UTC

CORRECTION FROM SOURCE: Cablevisión Holding Announces its Nine Months and Third Quarter 2025 Results

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November 10, 2025 · 7:25 PM UTC

Cablevisión Holding Announces its Nine Months and Third Quarter 2025 Results

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November 10, 2025 · 9:25 AM UTC

Telecom Argentina S.A. Announces Consolidated Results for The Nine-Month Period ("9M25") and Third Quarter of Fiscal Year 2025 ("3Q25")

Read more