Telecom Argentina S.A (TEO) Key Metrics
TEO key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Argentine pesosTEO returns How much profit the business earns on the capital it uses.
TEO financial health Debt, liquidity and how easily interest is covered.
TEO efficiency & capital use Working capital cycle and where the cash goes.
TEO returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TEO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TEO cash returned to shareholders
TEO key metrics in Argentine pesos
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −2.8% | 20.0% | −20.5% | −79.8% | 1.2% | −4.8% | −3.4% | 8.8% | 69.3% | 57.3% |
| Return on invested capital (ROIC) | 7.3% | −1.2% | −2.0% | −58.2% | −0.8% | 5.4% | 4.1% | 24.7% | 51.0% | 34.6% |
| Return on assets (ROA) | −1.2% | 8.9% | −8.5% | −37.7% | 0.6% | −2.5% | −1.9% | 5.2% | 28.4% | 24.2% |
| Return on tangible assets | −1.8% | 17.8% | −11.2% | −46.2% | 0.8% | −4.2% | −2.9% | 5.8% | 29.6% | 28.8% |
| Free cash flow margin | 7.2% | 10.1% | 7.5% | 1.9% | 2.1% | 5.3% | 6.4% | −0.1% | 4.3% | 10.9% |
| Income quality (OCF / net income) | — | 0.80 | — | — | 15.01 | — | — | 6.35 | 2.34 | 2.48 |
| Financial health | ||||||||||
| Total debt | ARS 4.31T | ARS 3.09T | ARS 4.83T | ARS 1.55T | ARS 556.43B | ARS 271.69B | ARS 185.14B | ARS 111.12B | ARS 12.23B | ARS 11.91B |
| Cash & short-term investments | ARS 791.81B | ARS 351.90B | ARS 617.89B | ARS 150.80B | ARS 59.67B | ARS 25.07B | ARS 26.17B | ARS 9.01B | ARS 6.32B | ARS 5.70B |
| Net debt | ARS 3.52T | ARS 2.74T | ARS 4.21T | ARS 1.40T | ARS 496.75B | ARS 246.62B | ARS 158.97B | ARS 102.11B | ARS 5.91B | ARS 6.21B |
| Debt / equity | 0.63 | 0.57 | 1.02 | 0.63 | 0.53 | 0.70 | 0.60 | 0.49 | 0.51 | 0.62 |
| Debt / assets | 0.26 | 0.28 | 0.40 | 0.29 | 0.26 | 0.36 | 0.32 | 0.30 | 0.21 | 0.25 |
| Net debt / EBITDA | 1.51 | 0.94 | 8.00 | 5.87 | 0.42 | 0.83 | 0.97 | 1.22 | 0.15 | 0.24 |
| Current ratio | 0.48 | 0.39 | 0.44 | 0.39 | 0.39 | 0.50 | 0.59 | 0.63 | 0.83 | 0.94 |
| Quick ratio | 0.45 | 0.35 | 0.41 | 0.37 | 0.37 | 0.47 | 0.55 | 0.58 | 0.75 | 0.87 |
| Interest coverage | 1.8 | -571.0 | -0.8 | — | -0.2 | 1.3 | 147.4 | 4.9 | 13.5 | 7.0 |
| Working capital | −ARS 2.00T | −ARS 1.20T | −ARS 1.36T | −ARS 545.99B | −ARS 195.64B | −ARS 52.79B | −ARS 35.20B | −ARS 19.96B | −ARS 3.75B | −ARS 949.0M |
| Invested capital | ARS 10.38T | ARS 8.17T | ARS 8.93T | ARS 3.88T | ARS 1.55T | ARS 635.48B | ARS 468.81B | ARS 331.02B | ARS 29.79B | ARS 25.55B |
| Tangible asset value | −ARS 132.16B | ARS 265.71B | −ARS 446.29B | ARS 196.15B | ARS 51.93B | ARS 32.92B | ARS 42.10B | ARS 48.59B | ARS 16.78B | ARS 8.24B |
| Net current asset value | −ARS 7.80T | −ARS 4.65T | −ARS 5.99T | −ARS 2.50T | −ARS 903.78B | −ARS 309.94B | −ARS 217.53B | −ARS 109.34B | −ARS 15.47B | −ARS 12.47B |
| Capital allocation | ||||||||||
| Dividends paid | ARS 23.63B | ARS 9.60B | ARS 4.02B | ARS 1.23B | ARS 744.0M | ARS 367.0M | ARS 35.53B | ARS 71.25B | ARS 4.01B | ARS 3.00B |
| Share buybacks (net) | ARS 17.49B | — | ARS 2.26B | — | ARS 59.0M | ARS 0 | ARS 125.0M | ARS 0 | ARS 0 | ARS 0 |
| Dividend payout ratio | — | 0.9% | — | — | 8.6% | — | — | 642.6% | 26.8% | 28.7% |
| Dividends + buybacks / free cash flow | 6.8% | 2.3% | 1.4% | 1.3% | 1.5% | 0.8% | 114.5% | — | 90.3% | 45.8% |
| Capex / revenue | 19.0% | 9.5% | 22.5% | 2.5% | 2.9% | 6.1% | 10.4% | 20.1% | 29.9% | 32.2% |
| Capex / operating cash flow | 72.4% | 48.6% | 75.0% | 57.2% | 58.5% | 53.6% | 62.0% | 100.5% | 87.3% | 74.8% |
| Capex / depreciation | 0.77 | 0.30 | 0.66 | 0.49 | 0.57 | 0.66 | 0.87 | 1.02 | 2.03 | 2.46 |
| Stock-based compensation / revenue | — | — | −63.2% | — | 0.4% | 1.1% | 2.3% | 0.0% | 0.9% | 1.1% |
| SG&A / revenue | 27.4% | 28.6% | 30.8% | 29.4% | 28.9% | 25.6% | 26.6% | 26.4% | 24.7% | 24.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 26.3 | 28.4 | 14.9 | 7.7 | 5.4 | 9.4 | 16.2 | 16.5 | 32.1 | 42.4 |
| Days of inventory on hand | 13.2 | 21.3 | 10.3 | 3.7 | 2.6 | 5.7 | 8.4 | 9.1 | 20.4 | 35.3 |
| Days payables outstanding | 138.4 | 201.8 | 122.9 | 52.6 | 35.5 | 58.6 | 77.4 | 68.2 | 94.7 | 126.0 |
| Cash conversion cycle (days) | -98.9 | -152.1 | -97.6 | -41.2 | -27.6 | -43.4 | -52.8 | -42.5 | -42.2 | -48.3 |
| Receivables turnover | 13.89 | 12.87 | 24.42 | 47.38 | 68.20 | 38.67 | 22.59 | 22.13 | 11.38 | 8.62 |
| Payables turnover | 2.64 | 1.81 | 2.97 | 6.94 | 10.28 | 6.23 | 4.72 | 5.36 | 3.85 | 2.90 |
| Inventory turnover | 27.60 | 17.12 | 35.30 | 99.17 | 142.02 | 64.09 | 43.46 | 40.06 | 17.85 | 10.33 |
| Asset turnover | 0.60 | 0.36 | 0.68 | 1.32 | 1.81 | 1.33 | 1.03 | 1.64 | 1.94 | 1.40 |
| Average receivables | ARS 599.71B | ARS 321.42B | ARS 241.54B | ARS 104.36B | ARS 37.85B | ARS 22.93B | ARS 21.57B | ARS 15.90B | ARS 9.01B | ARS 7.01B |
| Average payables | ARS 776.54B | ARS 610.89B | ARS 527.53B | ARS 186.93B | ARS 67.63B | ARS 35.66B | ARS 27.41B | ARS 17.17B | ARS 7.26B | ARS 6.19B |
| Average inventory | ARS 74.17B | ARS 64.55B | ARS 44.37B | ARS 13.07B | ARS 4.89B | ARS 3.47B | ARS 2.97B | ARS 2.30B | ARS 1.57B | ARS 1.74B |
| Intangibles / total assets | 42.8% | 48.2% | 44.7% | 43.4% | 48.5% | 47.3% | 46.3% | 48.5% | 12.3% | 24.3% |
Computed from TEO's annual financial statements (latest annual report filed March 11, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Argentine pesos; data from EODHD. Averages use the opening and closing balance of each year.
TEO valuation and financial ratios
Telecom Argentina S.A earned a return on equity of −2.8% and a return on invested capital of 7.3% in fiscal 2025. It ended the year with ARS 4.31 trillion of debt and ARS 791.8 billion in cash and short-term investments, net debt of ARS 3.52 trillion. It returned ARS 41.1 billion to shareholders: ARS 23.6 billion in dividends and ARS 17.5 billion in share buybacks, 7% of free cash flow.
See the TEO income statement, the TEO chart for price history, or the TEO stock overview for the latest quote and news.
TEO key metrics FAQ
What is Telecom Argentina S.A's return on equity?
Telecom Argentina S.A's return on equity (ROE) was −2.8% in fiscal 2025: net income of -ARS 170.0 billion on average shareholders' equity of ARS 6.14 trillion.
What is Telecom Argentina S.A's ROIC?
Telecom Argentina S.A's return on invested capital was 7.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Telecom Argentina S.A have?
Telecom Argentina S.A had total debt of ARS 4.31 trillion at the end of fiscal 2025, a debt-to-equity ratio of 0.63 and ARS 3.52 trillion of net debt (1.51 times EBITDA).
Does Telecom Argentina S.A buy back its shares?
Yes. Telecom Argentina S.A spent ARS 17.5 billion on net share repurchases in fiscal 2025.
What is Telecom Argentina S.A's current ratio?
Telecom Argentina S.A's current ratio was 0.48 at the end of fiscal 2025: current assets were 0.48 times current liabilities.