T

Telecom Argentina SA
BCBA:TECO2

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Telecom Argentina SA
BCBA:TECO2
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Price: 2 810 ARS -0.71% Market Closed
Market Cap: 6.1T ARS
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Intrinsic Value

The intrinsic value of one TECO2 stock under the Base Case scenario is 3 501.22 ARS. Compared to the current market price of 2 810 ARS, Telecom Argentina SA is Undervalued by 20%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

TECO2 Intrinsic Value
3 501.22 ARS
Undervaluation 20%
Intrinsic Value
Price
T
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Base Case
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Valuation Backtest
Telecom Argentina SA

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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of Telecom Argentina SA against its competitors.

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(gross, operating, and net) of Telecom Argentina SA compared to its peers.

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Revenue & Expenses Breakdown
Telecom Argentina SA

Balance Sheet Decomposition
Telecom Argentina SA

Current Assets 739.9B
Cash & Short-Term Investments 388.1B
Receivables 286.2B
Other Current Assets 65.6B
Non-Current Assets 8.6T
Long-Term Investments 36.8B
PP&E 4.1T
Intangibles 4.4T
Other Non-Current Assets 49.2B
Current Liabilities 1.5T
Accounts Payable 391.4B
Accrued Liabilities 341.6B
Other Current Liabilities 790.4B
Non-Current Liabilities 3.2T
Long-Term Debt 1.8T
Other Non-Current Liabilities 1.4T
Efficiency

Earnings Waterfall
Telecom Argentina SA

Revenue
3T ARS
Cost of Revenue
-829.7B ARS
Gross Profit
2.2T ARS
Operating Expenses
-2.3T ARS
Operating Income
-135.8B ARS
Other Expenses
678.7B ARS
Net Income
542.9B ARS

Free Cash Flow Analysis
Telecom Argentina SA

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

In H1 2023, Telecom coped with intense inflation, impacting revenues and EBITDA margins, with a revenue decrease of 9% in real terms year-over-year and an EBITDA margin compression from 41% to 28.4%. The company has been proactive, implementing monthly price increases since March, resulting in a flatter real-term service revenue variation amid steep inflation. Mobile subscribers and data usage rose by roughly 3% and 15%, respectively. The focus on FTTH network expansion underpinned a robust customer base, while the fintech segment Personal Pay saw significant growth. CapEx reached $655 million, accounting for 16% of revenues. Despite challenges, there was strong free cash flow generation of approximately $308 million, and all financial commitments to date have been met, leading to a cleaner debt maturity profile.

What is Earnings Call?
Fundamental Scores

TECO2 Profitability Score
Profitability Due Diligence

Telecom Argentina SA's profitability score is 54/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Exceptional Revenue Growth Forecast
Positive Free Cash Flow
Positive Net Income
54/100
Profitability
Score

Telecom Argentina SA's profitability score is 54/100. The higher the profitability score, the more profitable the company is.

TECO2 Solvency Score
Solvency Due Diligence

Telecom Argentina SA's solvency score is 30/100. The higher the solvency score, the more solvent the company is.

Low D/E
Long-Term Solvency
Short-Term Solvency
Positive Net Debt
30/100
Solvency
Score

Telecom Argentina SA's solvency score is 30/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

TECO2 Price Targets Summary
Telecom Argentina SA

Wall Street analysts forecast TECO2 stock price to drop over the next 12 months.

According to Wall Street analysts, the average 1-year price target for TECO2 is 2 422.5 ARS with a low forecast of 2 171.5 ARS and a high forecast of 2 730 ARS.

Lowest
Price Target
2 171.5 ARS
23% Downside
Average
Price Target
2 422.5 ARS
14% Downside
Highest
Price Target
2 730 ARS
3% Downside
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Dividends

Dividend Yield
Lowest
Average
Highest
Dividend Per Share
N/A
Growth 3Y
Growth 5Y
Growth 10Y
Dividend Safety Score
Very
Unsafe
Unsafe
Safe
Very
Safe
0
25
50
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100
Shareholder Yield

Current shareholder yield for TECO2 is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
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Buyback Yield
Lowest
Average
Highest
Debt Paydown Yield
Lowest
Average
Highest

Profile

Telecom Argentina SA

Country

Argentina

Industry

Telecommunication

Market Cap

6.1T ARS

Dividend Yield

0%

Description

Telecom Argentina SA engages in the provision of telecommunications services. The company is headquartered in Buenos Aires, Buenos Aires. The firm's segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services). The Company, through its subsidiaries, also provides mobile telecommunications services and international wholesale services. The Fixed services segment consists of basic telephone services, interconnection services, data transmission and Internet services, information and communication technology services, and other telephone services. The Company, through its subsidiaries, such as Telecom Personal S.A. and Nucleo S.A., provides mobile services in Argentina and Paraguay, respectively.

Contact

BUENOS AIRES
Buenos Aires
General Hornos 690
+541131002222.0
www.telecom.com.ar

IPO

1992-03-24

Employees

22 846

Officers

Chief Executive Officer
Mr. Roberto Daniel NĂłbile
Chief Financial Officer
Mr. Gabriel Pablo Blasi
Chief Operating Officer
Mr. Gonzalo Hita
Chief Technology Officer
Mr. Miguel Angel Fernández
IR Associate
Luis F. Rial Ubago
Director of Legal & Institutional
Mr. Pablo CĂ©sar Casey
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Chief Audit & Compliance Officer
Mr. Alejandro Miralles
Director of External Communications, Sustainability & Media
Mr. Pedro L. Lopez Matheu
Director of Human Capital
Mr. Sergio D. Faraudo
Chief of Procurement Officer
Mr. Sebastián Palla
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See Also

Discover More
What is the Intrinsic Value of one TECO2 stock?

The intrinsic value of one TECO2 stock under the Base Case scenario is 3 501.22 ARS.

Is TECO2 stock undervalued or overvalued?

Compared to the current market price of 2 810 ARS, Telecom Argentina SA is Undervalued by 20%.

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