Telecom Argentina (HAM:TEO) Cyclically Adjusted Revenue per Share: €4.41 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
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.

HAM:TEO Telecom Argentina SA HAM:TEO
83 GF Score
Price €12.30
GF Value €9.72
Valuation Modestly Overvalued
! 10 Warning Signs
View Full Analysis

What is Telecom Argentina Cyclically Adjusted Revenue per Share?

Telecom Argentina HAM:TEO +2.50% 83 Cyclically Adjusted Revenue per Share is €4.41 as of Mar. 2026. GuruFocus rates HAM:TEO with a GF Score™ of 83/100 and a GF Value™ of €9.72 (Modestly Overvalued). The stock has 10 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

Telecom Argentina's adjusted revenue per share for the three months ended in Mar. 2026 was €3.386. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is €4.41 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Telecom Argentina's average Cyclically Adjusted Revenue Growth Rate was 41.80% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was 44.90% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was 65.00% per year. During the past 10 years, the average Cyclically Adjusted Revenue Growth Rate was 58.00% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of Telecom Argentina was 87.70% per year. The lowest was 15.50% per year. And the median was 33.80% per year.

As of today (2026-07-17), Telecom Argentina's current stock price is €12.30. Telecom Argentina's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was €4.41. Telecom Argentina's Cyclically Adjusted PS Ratio of today is 2.79.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Telecom Argentina was 4.81. The lowest was 0.72. And the median was 2.35.


Telecom Argentina  (HAM:TEO) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

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 PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Telecom Argentina's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=12.30/4.41
=2.79

* 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.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Telecom Argentina was 4.81. The lowest was 0.72. And the median was 2.35.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


Telecom Argentina Cyclically Adjusted Revenue per Share Related Terms


Telecom Argentina Cyclically Adjusted Revenue per Share Historical Data

* Premium members only.

The historical data trend for Telecom Argentina's Cyclically Adjusted Revenue per Share 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 Revenue per Share Chart

Telecom Argentina Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Revenue per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 3.87

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 Revenue per Share 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 0.00 0.00 0.00 3.87 4.41

HAM:TEO vs TMUS, VZ, T: Cyclically Adjusted Revenue per Share Comparison

For the Telecom Services subindustry, Telecom Argentina's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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 PS Ratio vs Telecommunication Services Industry

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

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


HAM:TEO
83GF Score
Telecom Argentina SA HAM:TEO
Cyclically Adjusted Revenue per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Telecom Argentina Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Revenue 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.

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

Adj_RevenuePerShare= Revenue per Share /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=3.386/330.2130*330.2130
=3.386

Current CPI (Mar. 2026) = 330.2130.

Telecom Argentina Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 4.277 241.018 5.860
201609 4.133 241.428 5.653
201612 6.660 241.432 9.109
201703 2.951 243.801 3.997
201706 2.233 244.955 3.010
201709 2.131 246.819 2.851
201712 13.590 246.524 18.203
201803 4.553 249.554 6.025
201806 4.282 251.989 5.611
201809 3.106 252.439 4.063
201812 9.428 251.233 12.392
201903 3.455 254.202 4.488
201906 3.034 256.143 3.911
201909 2.735 256.759 3.517
201912 9.357 256.974 12.024
202003 3.031 258.115 3.878
202006 2.954 257.797 3.784
202009 2.709 260.280 3.437
202012 13.350 260.474 16.924
202103 2.772 264.877 3.456
202106 2.950 271.696 3.585
202109 3.555 274.310 4.279
202112 41.601 278.802 49.272
202203 4.708 287.504 5.407
202206 4.993 296.311 5.564
202209 5.961 296.808 6.632
202212 49.974 296.797 55.601
202303 9.146 301.836 10.006
202306 8.338 305.109 9.024
202309 6.404 307.789 6.871
202312 16.002 306.746 17.226
202403 2.704 312.332 2.859
202406 2.875 314.175 3.022
202409 2.851 315.301 2.986
202412 3.698 315.605 3.869
202503 3.639 319.799 3.758
202506 3.241 322.561 3.318
202509 3.008 324.800 3.058
202512 3.697 324.054 3.767
202603 3.386 330.213 3.386

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

What does a Cyclically Adjusted Revenue per Share of €4.41 mean?
Telecom Argentina (HAM:TEO) has a Cyclically Adjusted Revenue per Share of €4.41 as of Mar. 2026. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Telecom Argentina and its competitors.
Is Telecom Argentina's Cyclically Adjusted Revenue per Share too high?
Telecom Argentina's current Cyclically Adjusted Revenue per Share is €4.41. Overall, Telecom Argentina has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Telecom Argentina's Cyclically Adjusted Revenue per Share compare to TMUS and VZ?
Telecom Argentina's Cyclically Adjusted Revenue per Share of €4.41 can be compared against companies in the Telecommunication Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Revenue per Share for a Telecommunication Services company?
A good Cyclically Adjusted Revenue per Share depends on the Telecommunication Services industry context. However, Cyclically Adjusted Revenue per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Revenue per Share mean?
A high Cyclically Adjusted Revenue per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Telecom Argentina and its competitors. Telecom Argentina's current Cyclically Adjusted Revenue per Share is €4.41. 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 (HAM:TEO) is currently considered Modestly Overvalued. The stock's GF Value™ is €9.72, compared to a current price of €12.30 — trading 26.5% above its estimated fair value. The current Cyclically Adjusted Revenue per Share is €4.41. Telecom Argentina's overall GF Score™ is 83/100 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 Revenue per Share calculated?
Cyclically Adjusted Revenue per Share is calculated from a company's financial statements. For Telecom Argentina (HAM:TEO), the current Cyclically Adjusted Revenue per Share is €4.41 as of Mar. 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 (HAM:TEO) Overvalued in 2026?

Based on GuruFocus' analysis, Telecom Argentina stock appears to be overvalued. The current stock price of €12.30 is trading 26.5% above its estimated GF Value™ of €9.72. GuruFocus considers Telecom Argentina to be Modestly Overvalued.

Key valuation signals for HAM:TEO:

  • Cyclically Adjusted Revenue per Share: €4.41
  • GF Value™: €9.72 vs. price of €12.30 (26.5% above fair value)
  • GF Score™: 83/100 with 10 warning signs

No single metric tells the full story. See the HAM:TEO 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..
83GF Score

Get the complete analysis for HAM:TEO

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

€12.30
Price
€9.72
GF Value