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Telecom Argentina S.A (TECO2) Fair Value & Analysis

Communication Services · AR · Market cap 9.4T ARS

TA Telecom Argentina S.A TECO2 · BA
Price4,375 ARS
Fair Value4,083 ARS
Upside-6.7%
Quality39/100
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Mixed Growth
Thin margins · 3.9% net margin
Moderate debt · generates free cash flow
0.31% dividend yield
Trails peers (5/15)
Narrow moat 37/100
Evidence: Medium Range 2,483 ARS – 6,022 ARS Share as image

Fair value as of: Jul 25, 2026

From 14 valuation models · updated 16 days ago

Share price +23.2% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (2,483 ARS to 6,022 ARS) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

4,755 ARS 139.55 ARS Fair Value 4,083 ARS Feb 2021 Jun 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range 139.55 ARS – 4,755 ARS · fair‑value band 2,483 ARS – 6,022 ARS · the 4,375 ARS price screens above the 4,083 ARS fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

Full chart & analysis →

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Analysis

Telecom Argentina S.A (TECO2) currently trades at 4,375 ARS, while our model-based Fair Value estimate is 4,083 ARS, implying the stock looks roughly 6.7% fairly valued today. The Quality Score stands at 39/100 (below-average quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Telecom Argentina S.A generated revenue of 8.9T ARS at a net margin of 3.9%. Revenue grew 30.5% year over year. It earns a return on equity of 5.2%. Net debt stands at 5.0T ARS. Fundamentals as of Jul 25, 2026

Our scenario range runs from 2,483 ARS (bear case) to 6,022 ARS (bull case); at 4,375 ARS, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 119% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at -7%, TECO2 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 5,431 ARS 13,016 ARS 25,755 ARS 80
Rev-Margin DCF 3,893 ARS 8,028 ARS 16,697 ARS 74
ROIC Compounder 2,034 ARS 2,670 ARS 3,326 ARS 72
All 14 models by family
DCF Models
FCF DCF 5,858 ARS 10,404 ARS 25,268 ARS 38
Owner Earnings 1,431 ARS 5,456 ARS 14,282 ARS 31
5Y Revenue Exit 3,388 ARS 6,817 ARS 13,978 ARS 39
5Y EBITDA Exit 9,770 ARS 19,726 ARS 39,299 ARS 41
10Y Revenue Exit 4,011 ARS 10,263 ARS 14,101 ARS 36
10Y EBITDA Exit 8,947 ARS 24,329 ARS 51,942 ARS 37
Earnings-Based
EPV 2,034 ARS 2,670 ARS 3,234 ARS 59
Multiples
EV/EBIT 3,234 ARS 4,834 ARS 6,434 ARS 53
EV/EBITDA 10,595 ARS 14,648 ARS 18,702 ARS 54
EV/Revenue 2,074 ARS 3,634 ARS 5,194 ARS 43
Asset-Based
NCAV (Graham) 1,594 ARS 2,135 ARS 3,187 ARS 50
Growth DCF
Growth DCF 5,431 ARS 13,016 ARS 25,755 ARS 80
Rev-Margin DCF 3,893 ARS 8,028 ARS 16,697 ARS 74
Economic Profit
ROIC Compounder 2,034 ARS 2,670 ARS 3,326 ARS 72

Widest divergence: DCF Models (10,263 ARS) versus Asset-Based (2,135 ARS). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 8.9T ARS
Revenue growth (YoY) +30.5%
Net margin 3.9%
Return on equity 5.2%
Free cash flow 895B ARS FY2025
P/E ratio 27.0
More key figures
Operating margin 12.5%
EPS (TTM) 161.83 ARS
Dividend yield 0.3%
EPS growth (YoY) +439%
Net debt 5.0T ARS FY2025

Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 41 · Market factors (momentum, volatility) 78

Profitability 25
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 31
Balance sheet, leverage, solvency risk
Investment 4
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 85
Price trend over the last 3–12 months (market factor)
52W Momentum 92
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Telecom Argentina S.A., together with its subsidiaries, provides telecommunications services in Argentina, Paraguay, Uruguay, Chile and the United States.

Full company description

Telecom Argentina S.A., together with its subsidiaries, provides telecommunications services in Argentina, Paraguay, Uruguay, Chile and the United States. The company offers mobile telecommunications services, including voice communications, high-speed mobile internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, modems, MiFi and wingles, and smartwatches. It also offers internet connectivity products, including virtual private network services, traditional internet protocol links, and other products; and programming and other cable television services. In addition, the company provides telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; and other related supplementary services, such as call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services. Further, it offers infrastructure, interconnection, datacenter, internet, value added, and international long-distance services; and data services, including data transmission, virtual private networks, symmetric internet access, national and international signal transport, and videoconferencing services; Personal Pay, a digital wallet service. The company also offers broadcasting, cable television, financial, cybersecurity, ICT services and audiovisual communication, content platform and related services; security solutions and services; closed-circuit and community closed-circuit television, as well as investment and consulting services. The company was formerly known as Cablevisión S.A. and changed its name to Telecom Argentina S.A. in January 2018. Telecom Argentina S.A. was founded in 1979 and is based in Buenos Aires, Argentina.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Telecom Argentina S.A reported revenue of 8.3T ARS in FY2025 versus 425B ARS in FY2021, a compound +110.3%/yr. Reported net income was −170B ARS in FY2025.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
8.3T ARS
Latest YoY
+53.0%
Avg. growth/yr (3Y)
+125.2%
Avg. growth/yr (5Y)
+94.2%
Avg. growth/yr (10Y)
+82.7%
Revenue +110.3%/yr
FY21 425B ARS
FY22 729B ARS
FY23 5.9T ARS
FY24 5.4T ARS
FY25 8.3T ARS
Net income
FY21 8.7B ARS
FY22 −208B ARS
FY23 −738B ARS
FY24 1.3T ARS
FY25 −170B ARS

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Cite: Fair Value Calculator (2026). "Telecom Argentina S.A Fair Value". https://www.fairvalue-calculator.com/stock/TECO2

Peer Group

Telecom Services · 252 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 39 · Bottom 25%
Fair Value upside −7% · Below median
Return on equity (TTM) 5% · Below median
Return on assets 3% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 12% · Above median
Revenue growth 31% · Top 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.56× · Higher than median

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 27.0× · Pricier than median
P/B 1.37× · Pricier than median
P/S (TTM) 1.06× · Pricier than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 5.2× · Cheaper than median
PEG 0.35× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 24 · sector 30
FUTURE 100 · sector 15
PAST 21 · sector 28
HEALTH 72 · sector 89
DIVIDEND 6 · sector 72

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 25, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥89.98 ¥109.88 +22%
T-Mobile US, Inc TMUS $187.61 $172.67 -8%
Bharti Airtel Limited BHARTIARTL ₹1,922 ₹941.55 -51%
China Telecom Corporation 601728 ¥6.01 ¥8.36 +39%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 507.27 MXN +95%
Advanced Info Service Public Company ADVANC 379.00 THB 286.77 THB -24%
Chunghwa Telecom Co 2412 133.50 TWD 100.00 TWD -25%
China Unicom (Hong Kong) Limited 0762 HK$6.50 HK$13.03 +100%
Telefónica, S.A TEFN 75.67 MXN 111.01 MXN +47%

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Frequently asked questions

Is Telecom Argentina S.A (TECO2) overvalued or undervalued?
As of Jul 25, 2026, our model estimates a fair value of 4,083 ARS versus a price of 4,375 ARS, about −7% (fairly valued).
What is the fair value of TECO2?
Our model-based fair value for Telecom Argentina S.A is 4,083 ARS (as of Jul 25, 2026), built from audited fundamentals. The current price is 4,375 ARS.
What is the quality score of TECO2?
Telecom Argentina S.A has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Telecom Argentina S.A (TECO2)?
Telecom Argentina S.A reported trailing-twelve-month revenue of about 8.9T ARS (latest available figure, as of Jul 25, 2026).
What is the net profit margin of TECO2?
The net profit margin of Telecom Argentina S.A is about 3.9%, meaning it keeps roughly 3.9% of revenue as net income. Based on the latest reported figures.
Does Telecom Argentina S.A pay a dividend?
Telecom Argentina S.A currently shows a dividend yield of about 0.31% relative to its recent price (as of Jul 25, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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