Telecom Argentina S.A. (TEO) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 765.3B | 980.28B | 508.69M | 149.53M | 185.55M | 332.49B | 150.35B | 191.22B | 171.23B | 312.23B | 445.55B | 292.24B | 53.14B | 83.36B | 148.02B | 88.24B | 75.09B | 39.56B | 73.21B | 49.65B |
| Operating CF Margin % | 32.46% | 36.22% | 0.02% | 0.01% | 0.01% | 25.87% | 15.29% | 16.02% | 16.06% | 30.36% | 43.25% | 116.27% | 6.38% | 32.28% | 41.9% | 32.26% | 31.31% | 29.85% | 41.56% | 34.24% |
| Operating CF Growth % | 412345.35% | 194.83% | -99.66% | -99.92% | -99.89% | 6.49% | -66.26% | -34.57% | 222.22% | 274.54% | 201.01% | 231.19% | -29.23% | 110.73% | 102.17% | 77.73% | 75.68% | 33.91% | 90.45% | 3.43% |
| Net Income | 642.98B | 120.3B | -150.82M | -155.13M | 84.37M | 81.34B | 0 | 54.61B | 675.03B | -334.85B | -61.24B | 35.93B | 27.76B | -42.14B | -458.31B | 20.21B | 48.51B | 8.91B | 4.62B | -16.72B |
| Depreciation & Amortization | 523.83B | 725.84B | 366.87M | 412.8M | 323.19M | 382.76B | 0 | 281.06B | 233.2B | 355.69B | -286.34B | 86.86B | 67.86B | 89.29B | 73.05B | 10.82B | 76.03B | 41.16B | 79.51B | 52.77B |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 320.66B | -25.53B | -5.31M | -60.41M | -113.55M | -12.94B | 0 | 150.68B | 210.83B | -262.4B | -38.27B | -94B | -11.77B | -30.8B | 13.64B | -3.35B | -57M | 2.36B | 14.55B | 37.11B |
| Other Non-Cash Items | -586.85B | 17.13B | 368.03M | 132.7M | 70.09M | -132.61B | 274.1B | -236.19B | -929.85B | 377.03B | 831.41B | 210.02B | -19.06B | 63.8B | 524.85B | 59.04B | -38.68B | -12.48B | -25.48B | -12.14B |
| Working Capital Changes | -135.32B | 142.54B | -70.08M | -180.42M | -178.56M | 13.94B | -123.76B | -58.95B | -17.98B | 176.76B | 0 | 53.43B | -11.65B | 3.22B | -5.21B | 1.51B | -10.71B | -397M | 18M | -11.37B |
| Change in Receivables | -124.61B | 22.91B | -79.43M | -7.71M | -123.8M | -98.97B | -44.23B | -89.88B | -109.05B | -127.11B | -20.71B | -13.68B | -16.46B | -11.38B | -9.22B | 4.07B | -21.51B | -5.43B | -6.15B | -6.92B |
| Change in Inventory | -3.1B | 18B | 45.24M | 449.19K | -157.21K | -6.6B | -7.04B | 18.67B | -11.42B | -2.24B | -13.52B | -2.42B | -2.69B | -1.78B | -2.68B | -6.28B | 1.24B | -42M | -532M | 506M |
| Change in Payables | -22.69B | 90.4B | 22M | -69.22M | -29.66M | 32.58B | -85.93B | 27.84B | 46.41B | 259.04B | 39.91B | 27.64B | 11.66B | 21.37B | 9.72B | 24.76B | 7.66B | 2.42B | 583M | -464M |
| Cash from Investing | -582.77B | -991.33B | -371.6M | -191.5M | -1.2B | -133.62B | 76.46B | 23.37B | -224.22B | -579.16B | -112.09B | -57.48B | -237.68B | -51.91B | -113.65B | -80.61B | -77.29B | -30.5B | -58.17B | -75.26B |
| Capital Expenditures | -439.01B | -795.66B | -371.6M | -244.6M | -1.2B | -142.22B | 76.46B | -115.11B | -224.22B | -579.16B | -77.35B | -57.48B | -237.68B | -44.52B | -82.41B | -80.61B | -77.29B | -24.69B | -38.56B | -75.26B |
| CapEx % of Revenue | 18.62% | 29.4% | 0.02% | 0.01% | 0.09% | 11.07% | 7.78% | 9.64% | 21.03% | 56.32% | 7.51% | 22.87% | 28.53% | 17.24% | 23.33% | 29.47% | 32.23% | 18.64% | 21.89% | 51.9% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -25.6B | 14.46B | 15.41M | 2.02M | 85.75K | 12.95B | 83.28B | 172.82B | -150.19B | -407.13B | 253M | 88.3B | -176.4B | -1.26B | -5.21B | -1.97B | -830M | -649M | -1.49B | -46.69B |
| Cash from Financing | 64.84B | 28.63B | -120.14M | -68.99M | 1.08B | -93.04B | -154.39B | -264.8B | 27.66B | 64.96B | -180.9B | -15.5B | 9.73B | -32.03B | -19.76B | -14.94B | 1.9B | -8.37B | -16.73B | -1.04B |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | -459.92M | -11.87M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -59M | 0 | 0 |
| Dividends Paid | 0 | -23.9B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.62B | -2.62B | 0 | 0 | -182M | -602M | -445M | 0 | -384M | -30M | -330M |
| Share Repurchases | 0 | -459.92M | -11.87M | 0 | 0 | 0 | 0 | 0 | 0 | -2.26B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -59M | 0 | 0 |
| Other Financing | -148.03B | -46.05B | -37.2M | -64.65M | -28.65M | -101.33B | -99.78B | -163.9B | -76.41B | -8.77B | -112.78B | -44.84B | -70.74B | -14.54B | -27.88B | -5.49B | -17.34B | -6.75B | -18.48B | -7.56B |
| Net Change in Cash | 162.14B | 48.22B | 11.92M | -106.26M | 75.5M | 135.51B | 17.8B | 14.4B | -91.65B | 61.6B | 37.27B | 19.31B | -27.78B | 7.12B | 32.08B | 2.45B | -3.13B | 2.78B | 4.33B | -22.16B |
| Free Cash Flow | 299.5B | 236.19B | 137.09M | -66.05M | -1.01B | 174.08B | 226.81B | 42.32B | -52.99B | -266.93B | 93.99B | 234.76B | -184.54B | 37.18B | 60.29B | 7.63B | -2.21B | 14.12B | 33B | -25.61B |
| FCF Margin % | 12.7% | 8.73% | 0.01% | -0% | -0.07% | 13.54% | 23.07% | 3.55% | -4.97% | -25.96% | 9.12% | 93.4% | -22.15% | 14.4% | 17.07% | 2.79% | -0.92% | 10.65% | 18.73% | -17.66% |
| FCF Growth % | 29662.45% | 35.68% | -99.94% | -100.16% | 98.09% | 165.22% | 141.32% | -81.97% | 71.29% | -817.92% | 55.9% | 2976.05% | -8257.84% | 163.4% | 82.68% | 129.8% | -111.2% | 320.32% | 1646.14% | -184.38% |
| FCF per Share | 695.30 | 548.34 | 0.32 | -0.15 | -2.35 | 404.14 | 526.78 | 98.25 | -123.02 | -619.71 | 218.20 | 545.03 | -428.43 | 86.32 | 139.96 | 17.72 | -5.13 | 32.77 | 76.62 | -59.47 |
| FCF Conversion (FCF/Net Income) | 1.20x | 8.23x | -0.00x | -0.00x | 0.00x | 4.51x | -9.19x | 2.51x | 0.16x | -0.92x | 4.76x | 84.15x | 0.49x | -1.94x | -0.31x | 11.17x | 1.56x | 4.76x | 15.69x | -2.59x |
| Interest Paid | 0 | 0 | 0 | 244.27B | 78.8B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |