T-Mobile US, Inc. TMUS
As America's supercharged Un-carrier, we have disrupted the telecommunications industry by actively engaging with and listening to our customers and focusing on eliminating their pain points. Our customers benefit from what we believe is an unmatched combination of the best value and best network, alongside an unwavering focus on offering them the best possible service experience and an undisputable drive for disruptive innovation in wireless and beyond. This includes providing added value and what we believe is an exceptional experience while implementing signature Un-carrier initiatives that have changed the industry. We ended annual service contracts, overages, unpredictable international roaming fees and data buckets, among other things. We are inspired by a relentless focus on customer experience, consistently delivering award-winning customer experience, which drives our customer satisfaction levels while enabling operational efficiencies.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $88.31B | $81.40B | $78.56B | $79.57B | $80.12B | $68.40B | $45.00B | $43.31B | $40.60B | $37.49B |
| Cost of revenue | — | — | — | — | — | — | — | — | $6.10B | $5.73B |
| Gross profit | — | — | — | — | — | — | — | — | $34.50B | $31.76B |
| SG&A | $23.47B | $20.82B | $21.31B | $21.61B | $20.24B | $18.93B | $14.14B | $13.16B | $12.26B | $11.38B |
| Total operating expenses | $70.03B | $63.39B | $64.29B | $73.03B | $73.23B | $61.76B | $39.28B | $38.00B | $35.72B | $33.44B |
| Operating income | $18.28B | $18.01B | $14.27B | $6.54B | $6.89B | $6.64B | $5.72B | $5.31B | $4.89B | $4.05B |
| Interest expense | — | — | — | — | — | — | — | $835.0M | $1.11B | $1.42B |
| Pre-tax income | $14.28B | $14.71B | $11.00B | $3.15B | $3.35B | $3.53B | $4.60B | $3.92B | $3.16B | $2.33B |
| Income tax | $3.29B | $3.37B | $2.68B | $556.0M | $327.0M | $786.0M | $1.14B | $1.03B | $1.38B | $867.0M |
| Net income | $10.99B | $11.34B | $8.32B | $2.59B | $3.02B | $3.06B | $3.47B | $2.89B | $4.54B | $1.46B |
| EPS, basic | 9.75 | 9.70 | 7.02 | 2.07 | 2.42 | 2.68 | 4.06 | 3.40 | 5.39 | 1.71 |
| EPS, diluted | 9.72 | 9.66 | 6.93 | 2.06 | 2.41 | 2.65 | 4.02 | 3.36 | 5.20 | 1.69 |
| Shares, diluted (wtd. avg.) | $1.13B | $1.17B | $1.20B | $1.26B | $1.25B | $1.15B | $863.4M | $858.3M | $871.8M | $833.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $5.60B | $5.41B | $5.31B | $4.67B | $6.70B | $10.46B | $1.53B | $1.20B | $1.22B | $5.50B |
| Short-term investments | — | — | — | — | — | — | — | — | — | $0 |
| Receivables | $4.87B | $4.28B | $4.69B | $4.45B | $4.19B | $4.25B | $1.89B | $1.77B | $1.92B | $1.90B |
| Inventory | $2.40B | $1.61B | $1.68B | $1.88B | $2.57B | $2.53B | $964.0M | $1.08B | $1.57B | $1.11B |
| Total current assets | $24.46B | $18.40B | $19.02B | $19.07B | $20.89B | $23.89B | $9.30B | $8.28B | $8.91B | $14.22B |
| Property, plant and equipment | $38.33B | $38.53B | $40.43B | $42.09B | $39.80B | $41.17B | $21.98B | $23.36B | $22.20B | $20.94B |
| Goodwill | $13.68B | $13.01B | $12.23B | $12.23B | $12.19B | $11.12B | $1.93B | $1.90B | $1.68B | $1.68B |
| Other intangibles | $3.84B | $2.51B | $2.62B | $3.51B | $4.73B | $5.30B | $115.0M | $198.0M | $217.0M | $376.0M |
| Total assets | $219.24B | $208.03B | $207.68B | $211.34B | $206.56B | $200.16B | $86.92B | $72.47B | $70.56B | $65.89B |
| Accounts payable | $10.28B | $8.46B | $10.37B | $12.28B | $11.40B | $10.20B | $6.75B | $7.74B | $8.53B | $7.15B |
| Short-term debt | $5.13B | $4.07B | $3.62B | $5.16B | $3.38B | $4.58B | $25.0M | $841.0M | $1.61B | $354.0M |
| Total current liabilities | $24.50B | $20.17B | $20.93B | $24.74B | $23.50B | $21.70B | $12.51B | $10.27B | $11.52B | $9.02B |
| Long-term debt | $81.15B | $74.20B | $71.40B | $66.80B | $67.08B | $61.83B | $10.96B | $12.12B | $12.12B | $21.83B |
| Retained earnings | $21.14B | $14.38B | $7.35B | -$223.0M | -$2.81B | -$5.84B | -$8.83B | -$12.95B | -$16.07B | -$20.61B |
| Total equity | $59.20B | $61.74B | $64.72B | $69.66B | $69.10B | $65.34B | $28.79B | $24.72B | $22.56B | $18.24B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $27.95B | $22.29B | $18.56B | $16.78B | $13.92B | $8.64B | $6.82B | $3.90B | $3.83B | $2.78B |
| Depreciation and amortisation | $13.51B | $12.92B | $12.82B | $13.65B | $16.38B | $14.15B | $6.62B | $6.49B | $5.98B | $6.24B |
| Stock-based compensation | $829.0M | $649.0M | $667.0M | $595.0M | $540.0M | $694.0M | $495.0M | $424.0M | $306.0M | $235.0M |
| Capital expenditure | $9.96B | $8.84B | $9.80B | $13.97B | $12.33B | $11.03B | $6.39B | $5.54B | $5.24B | $4.70B |
| Investing cash flow | -$17.61B | -$9.07B | -$5.83B | -$12.36B | -$19.39B | -$12.71B | -$4.12B | -$579.0M | -$6.75B | -$2.32B |
| Financing cash flow | -$10.08B | -$12.81B | -$12.10B | -$6.45B | $1.71B | $13.01B | -$2.37B | -$3.34B | -$1.37B | $463.0M |
| Dividends paid | $4.12B | $3.30B | $747.0M | $0 | $0 | — | $0 | $0 | $55.0M | $55.0M |
| Buybacks | $9.97B | $11.23B | $13.07B | $3.00B | $0 | $19.54B | $0 | $1.07B | $427.0M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-181884.
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| AD | ARRAY DIGITAL INFRASTRUCTURE, INC. | $3.33B | 68.8x | 58.3% |
| SPOK | Spok Holdings, Inc | $224.0M | 14.3x | 1.5% |
| SIDU | Sidus Space Inc. | $176.5M | — | -54.1% |
| TIGO | MILLICOM INTERNATIONAL CELLULAR SA | — | — | 0.3% |
| SKM | SK TELECOM CO LTD | — | — | — |
| CHT | CHUNGHWA TELECOM CO LTD | — | — | -3.8% |
| VOD | VODAFONE GROUP PUBLIC LTD CO | — | — | — |
| VEON | VEON Ltd. | — | — | 9.9% |