Telecom Argentina (BUE:TECO2) Cyclically Adjusted Price-to-FCF: 22.34 (As of Sep. 07, 2026) — 11% Below Median

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BUE:TECO2 Telecom Argentina SA BUE:TECO2
82 GF Score
Price ARS4,112.50
GF Value ARS3,663.51
Valuation Modestly Overvalued
! 9 Warning Signs
View Full Analysis

What is Telecom Argentina Cyclically Adjusted Price-to-FCF?

Telecom Argentina BUE:TECO2 -0.42% 82 Cyclically Adjusted Price-to-FCF is 22.34 as of Sep. 07, 2026, which is 11% below its 10-year median of 25.01. GuruFocus rates BUE:TECO2 with a GF Score™ of 82/100 and a GF Value™ of ARS3,663.51 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 196 Telecommunication Services companies, Telecom Argentina ranks worse than 69.9% on this metric.

As of today (2026-09-07), Telecom Argentina's current share price is ARS4112.50. Telecom Argentina's Cyclically Adjusted FCF per Share for the quarter that ended in Jun. 2026 was ARS184.11. Telecom Argentina's Cyclically Adjusted Price-to-FCF for today is 22.34.

The historical rank and industry rank for Telecom Argentina's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

BUE:TECO2' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 5.9   Med: 25.01   Max: 85.92
Current: 22.34

During the past years, Telecom Argentina's highest Cyclically Adjusted Price-to-FCF was 85.92. The lowest was 5.90. And the median was 25.01.

BUE:TECO2's Cyclically Adjusted Price-to-FCF is ranked worse than
69.9% of 196 companies
in the Telecommunication Services industry
Industry Median: 14.265 vs BUE:TECO2: 22.34

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 Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Telecom Argentina's adjusted free cash flow per share data for the three months ended in Jun. 2026 was ARS132.634. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is ARS184.11 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Telecom Argentina  (BUE:TECO2) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow 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 Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Telecom Argentina Cyclically Adjusted Price-to-FCF Related Terms


Telecom Argentina Cyclically Adjusted Price-to-FCF Historical Data

* Premium members only.

The historical data trend for Telecom Argentina's Cyclically Adjusted Price-to-FCF 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 Price-to-FCF Chart

Telecom Argentina Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.70 6.63 17.56 28.67 23.23

Telecom Argentina Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted Price-to-FCF 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 17.23 16.59 23.23 20.32 21.97

BUE:TECO2 vs VZ, TMUS, T: Cyclically Adjusted Price-to-FCF Comparison

For the Telecom Services subindustry, Telecom Argentina's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF 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 Price-to-FCF vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Telecom Argentina's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Telecom Argentina's Cyclically Adjusted Price-to-FCF falls into.


BUE:TECO2
82GF Score
Telecom Argentina SA BUE:TECO2
Cyclically Adjusted Price-to-FCF is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Telecom Argentina Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF 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 Price-to-FCF.

Telecom Argentina's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=4112.50/184.11
=22.34

* 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 FCF per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Telecom Argentina's adjusted Free Cash Flow per Share data for the three months ended in Jun. 2026 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=132.634/333.9520*333.9520
=132.634

Current CPI (Jun. 2026) = 333.9520.

Telecom Argentina Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201609 0.079 241.428 0.109
201612 8.587 241.432 11.878
201703 0.057 243.801 0.078
201706 -0.285 244.955 -0.389
201709 0.991 246.819 1.341
201712 3.002 246.524 4.067
201803 1.952 249.554 2.612
201806 -0.635 251.989 -0.842
201809 0.944 252.439 1.249
201812 -2.420 251.233 -3.217
201903 4.071 254.202 5.348
201906 4.738 256.143 6.177
201909 6.111 256.759 7.948
201912 14.719 256.974 19.128
202003 3.177 258.115 4.110
202006 14.159 257.797 18.342
202009 9.334 260.280 11.976
202012 35.623 260.474 45.672
202103 9.156 264.877 11.544
202106 9.339 271.696 11.479
202109 15.323 274.310 18.655
202112 118.019 278.802 141.364
202203 13.260 287.504 15.402
202206 18.900 296.311 21.301
202209 27.993 296.808 31.496
202212 228.123 296.797 256.681
202303 62.315 301.836 68.945
202306 75.688 305.109 82.843
202309 111.626 307.789 121.115
202312 -44.536 306.746 -48.486
202403 70.378 312.332 75.250
202406 19.944 314.175 21.199
202409 58.467 315.301 61.925
202412 106.093 315.605 112.260
202503 51.608 319.799 53.892
202506 87.938 322.561 91.043
202509 102.100 324.800 104.977
202512 174.027 324.054 179.343
202603 139.060 330.213 140.635
202606 132.634 333.952 132.634

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF 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 Price-to-FCF of 22.34 mean?
Telecom Argentina (BUE:TECO2) has a Cyclically Adjusted Price-to-FCF of 22.34 as of Sep. 07, 2026. Cyclically Adjusted Price-to-FCF Ratio is the ratio of share price to a company's inflation-adjusted FCF per share over a 10-year period. View historical data on Telecom Argentina and its competitors. This is 11% below median its historical median of 25.01. Over the past decade, Telecom Argentina's Cyclically Adjusted Price-to-FCF has ranged from 5.90 to 85.92. According to the industry distribution chart, Telecom Argentina ranks #137 out of 196 companies in the Telecommunication Services industry, placing it in the top 69.9%.
Is Telecom Argentina's Cyclically Adjusted Price-to-FCF too high?
Telecom Argentina's current Cyclically Adjusted Price-to-FCF of 22.34 is 11% below median its 10-year median of 25.01. Over the past 10 years, this metric has ranged from a low of 5.90 to a high of 85.92. The Telecommunication Services industry median Cyclically Adjusted Price-to-FCF is 14.27. Telecom Argentina's value of 22.34 is 56.6% above this industry median. Based on the distribution chart, Telecom Argentina ranks #137 out of 196 companies in the Telecommunication Services industry, which is below the industry midpoint. Overall, Telecom Argentina has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Telecom Argentina's Cyclically Adjusted Price-to-FCF compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Telecom Argentina ranks #137 out of 196 companies for Cyclically Adjusted Price-to-FCF. This places Telecom Argentina in the lower half of its industry. The industry median Cyclically Adjusted Price-to-FCF is 14.27. Telecom Argentina's value of 22.34 is 56.6% above this benchmark. Historically, Telecom Argentina's own Cyclically Adjusted Price-to-FCF has ranged from 5.90 to 85.92 over the past decade. While the company's 10-year median is 25.01 vs. the industry median of 14.27, 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 Price-to-FCF for a Telecommunication Services company?
The median Cyclically Adjusted Price-to-FCF among Telecommunication Services companies is 14.27, based on 196 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted Price-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted Price-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Telecom Argentina's current Cyclically Adjusted Price-to-FCF of 22.34 is 56.6% 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 Price-to-FCF mean?
A high Cyclically Adjusted Price-to-FCF can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted Price-to-FCF Ratio is the ratio of share price to a company's inflation-adjusted FCF 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 Price-to-FCF is 14.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Telecom Argentina's current Cyclically Adjusted Price-to-FCF is 22.34, which is 11% below median its own 10-year median of 25.01. 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?
Based on GuruFocus' analysis, Telecom Argentina (BUE:TECO2) is currently considered Modestly Overvalued. The stock's GF Value™ is ARS3,663.51, compared to a current price of ARS4,112.50 — trading 12.3% above its estimated fair value. The current Cyclically Adjusted Price-to-FCF is 22.34, which is 11% below median its 10-year median of 25.01 and 56.6% above the Telecommunication Services industry median of 14.27. Telecom Argentina's overall GF Score™ is 82/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Price-to-FCF calculated?
Cyclically Adjusted Price-to-FCF is calculated from a company's financial statements. For Telecom Argentina (BUE:TECO2), the current Cyclically Adjusted Price-to-FCF is 22.34 as of Sep. 07, 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 (BUE:TECO2) Overvalued in 2026?

Based on GuruFocus' analysis, Telecom Argentina stock appears to be overvalued. The current stock price of ARS4,112.50 is trading 12.3% above its estimated GF Value™ of ARS3,663.51. GuruFocus considers Telecom Argentina to be Modestly Overvalued.

Key valuation signals for BUE:TECO2:

  • Cyclically Adjusted Price-to-FCF: 22.34 (11% below median its 10-year median of 25.01)
  • GF Value™: ARS3,663.51 vs. price of ARS4,112.50 (12.3% above fair value)
  • GF Score™: 82/100 with 9 warning signs
  • Industry Position: 56.6% above the Telecommunication Services median (#137 of 196)

No single metric tells the full story. See the BUE:TECO2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Telecom Argentina Business Description

Other Exchanges TCMFF:USATEO:USATEO:Germany
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..
82GF Score

Get the complete analysis for BUE:TECO2

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

ARS4,112.50
Price
ARS3,663.51
GF Value