Telecom Argentina (MEX:TEO N) Cyclically Adjusted PB Ratio: 3.77 (As of Jul. 29, 2026) — 26% Below Median

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Founder & CEO of GuruFocus
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MEX:TEO N Telecom Argentina SA MEX:TEO N
80 GF Score
Price MXN142.68
GF Value MXN109.31
! 10 Warning Signs
View Full Analysis

What is Telecom Argentina Cyclically Adjusted PB Ratio?

Telecom Argentina MEX:TEO N 80 Cyclically Adjusted PB Ratio is 3.77 as of Jul. 29, 2026, which is 26% below its 10-year median of 5.08. GuruFocus rates MEX:TEO N with a GF Score™ of 80/100 and a GF Value™ of MXN109.31. The stock has 10 warning signs investors should review. Among 288 Telecommunication Services companies, Telecom Argentina ranks worse than 87.15% on this metric.

As of today (2026-07-29), Telecom Argentina's current share price is MXN142.68. Telecom Argentina's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was MXN37.83. Telecom Argentina's Cyclically Adjusted PB Ratio for today is 3.77.

The historical rank and industry rank for Telecom Argentina's Cyclically Adjusted PB Ratio or its related term are showing as below:

MEX:TEO N' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.14   Med: 5.08   Max: 12.26
Current: 4.77

During the past years, Telecom Argentina's highest Cyclically Adjusted PB Ratio was 12.26. The lowest was 2.14. And the median was 5.08.

MEX:TEO N's Cyclically Adjusted PB Ratio is ranked worse than
87.15% of 288 companies
in the Telecommunication Services industry
Industry Median: 1.75 vs MEX:TEO N: 4.77

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Telecom Argentina's adjusted book value per share data for the three months ended in Mar. 2026 was MXN242.343. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is MXN37.83 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Telecom Argentina  (MEX:TEO N) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Telecom Argentina Cyclically Adjusted PB Ratio Related Terms


Telecom Argentina Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Telecom Argentina's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Telecom Argentina Cyclically Adjusted PB Ratio Chart

Telecom Argentina Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.38 2.64 5.65 6.24 4.40

Telecom Argentina Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.70 3.30 3.09 4.40 3.77

MEX:TEO N vs VZ, TMUS, T: Cyclically Adjusted PB Ratio Comparison

For the Telecom Services subindustry, Telecom Argentina's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Telecom Argentina Cyclically Adjusted PB Ratio vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Telecom Argentina's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Telecom Argentina's Cyclically Adjusted PB Ratio falls into.


MEX:TEO N
80GF Score
Telecom Argentina SA MEX:TEO N
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Telecom Argentina Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Telecom Argentina's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=142.68/37.83
=3.77

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Telecom Argentina's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Telecom Argentina's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=242.343/330.2130*330.2130
=242.343

Current CPI (Mar. 2026) = 330.2130.

Telecom Argentina Quarterly Data

Book Value per Share CPI Adj_Book
201606 116.528 241.018 159.652
201609 121.227 241.428 165.808
201612 129.739 241.432 177.447
201703 134.020 243.801 181.522
201706 130.082 244.955 175.358
201709 133.911 246.819 179.156
201712 153.872 246.524 206.108
201803 266.290 249.554 352.358
201806 219.255 251.989 287.318
201809 127.448 252.439 166.713
201812 419.741 251.233 551.695
201903 291.666 254.202 378.879
201906 273.761 256.143 352.926
201909 230.948 256.759 297.018
201912 304.241 256.974 390.951
202003 289.801 258.115 370.750
202006 271.954 257.797 348.347
202009 256.110 260.280 324.923
202012 327.595 260.474 415.305
202103 232.206 264.877 289.483
202106 232.051 271.696 282.029
202109 236.704 274.310 284.943
202112 497.246 278.802 588.938
202203 280.126 287.504 321.739
202206 285.083 296.311 317.700
202209 232.200 296.808 258.334
202212 669.510 296.797 744.889
202303 211.064 301.836 230.907
202306 196.735 305.109 212.922
202309 188.347 307.789 202.069
202312 515.336 306.746 554.761
202403 177.714 312.332 187.888
202406 220.163 314.175 231.402
202409 247.132 315.301 258.820
202412 342.118 315.605 357.953
202503 268.184 319.799 276.917
202506 229.180 322.561 234.617
202509 201.859 324.800 205.223
202512 197.675 324.054 201.432
202603 242.343 330.213 242.343

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 3.77 mean?
Telecom Argentina (MEX:TEO N) has a Cyclically Adjusted PB Ratio of 3.77 as of Jul. 29, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Telecom Argentina and its competitors. This is 26% below median its historical median of 5.08. Over the past decade, Telecom Argentina's Cyclically Adjusted PB Ratio has ranged from 2.14 to 12.26. According to the industry distribution chart, Telecom Argentina ranks #251 out of 288 companies in the Telecommunication Services industry, placing it in the top 87.2%.
Is Telecom Argentina's Cyclically Adjusted PB Ratio too high?
Telecom Argentina's current Cyclically Adjusted PB Ratio of 3.77 is 26% below median its 10-year median of 5.08. Over the past 10 years, this metric has ranged from a low of 2.14 to a high of 12.26. The Telecommunication Services industry median Cyclically Adjusted PB Ratio is 1.75. Telecom Argentina's value of 3.77 is 115.4% above this industry median. Based on the distribution chart, Telecom Argentina ranks #251 out of 288 companies in the Telecommunication Services industry, which is in the bottom quartile relative to peers. Overall, Telecom Argentina has a GF Score™ of 80/100, reflecting its overall financial health beyond just this single metric.
How does Telecom Argentina's Cyclically Adjusted PB Ratio compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Telecom Argentina ranks #251 out of 288 companies for Cyclically Adjusted PB Ratio. This places Telecom Argentina in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.75. Telecom Argentina's value of 3.77 is 115.4% above this benchmark. Historically, Telecom Argentina's own Cyclically Adjusted PB Ratio has ranged from 2.14 to 12.26 over the past decade. While the company's 10-year median is 5.08 vs. the industry median of 1.75, Telecom Argentina has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Telecommunication Services company?
The median Cyclically Adjusted PB Ratio among Telecommunication Services companies is 1.75, based on 288 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Telecom Argentina's current Cyclically Adjusted PB Ratio of 3.77 is 115.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Telecom Argentina and its competitors. For the Telecommunication Services industry, the median Cyclically Adjusted PB Ratio is 1.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Telecom Argentina's current Cyclically Adjusted PB Ratio is 3.77, which is 26% below median its own 10-year median of 5.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Telecom Argentina stock overvalued right now?
Telecom Argentina (MEX:TEO N) has a current Cyclically Adjusted PB Ratio of 3.77. The stock's GF Value™ is MXN109.31, compared to a current price of MXN142.68 — trading 30.5% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.77, which is 26% below median its 10-year median of 5.08 and 115.4% above the Telecommunication Services industry median of 1.75. Telecom Argentina's overall GF Score™ is 80/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Telecom Argentina (MEX:TEO N), the current Cyclically Adjusted PB Ratio is 3.77 as of Jul. 29, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Telecom Argentina (MEX:TEO N) Overvalued in 2026?

Based on GuruFocus' analysis, Telecom Argentina stock appears to be overvalued. The current stock price of MXN142.68 is trading 30.5% above its estimated GF Value™ of MXN109.31.

Key valuation signals for MEX:TEO N:

  • Cyclically Adjusted PB Ratio: 3.77 (26% below median its 10-year median of 5.08)
  • GF Value™: MXN109.31 vs. price of MXN142.68 (30.5% above fair value)
  • GF Score™: 80/100 with 10 warning signs
  • Industry Position: 115.4% above the Telecommunication Services median (#251 of 288)

No single metric tells the full story. See the MEX:TEO N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Telecom Argentina Business Description

Address General Hornos 690, Buenos Aires, ARG, C1272ACK
Telecom Argentina SA offers its customers quadruple play services, combining mobile telephony services, cable television services, Internet services and fixed telephony services. It also provides other telephone-related services such as international long-distance and wholesale services, data transmission and IT solutions outsourcing and install, operate and develop cable television and data transmission services. The company operates in segments: ICT Services provided in Argentina: Personal Network; ICT Services provided in Argentina - TMA Network; and Other segments..
80GF Score

Get the complete analysis for MEX:TEO N

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN142.68
Price
MXN109.31
GF Value