T-Mobile US Inc. (TMUS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$2.6	$2.99	+15.0%	—	$22.8B	—
Q1 26	$2.11	$2.77	+31.3%	—	$23.1B	—
Q4 25	$2.06	$1.88	-8.7%	—	$24.3B	—
Q3 25	$2.57	$2.77	+7.8%	—	$22B	—
Q2 25	$2.68	$2.85	+6.3%	—	—	—
Q1 25	$2.47	$2.58	+4.5%	—	—	—
Q4 24	$2.38	$2.59	+8.8%	—	—	—
Q3 24	$2.42	$2.61	+7.9%	—	—	—
Q2 24	$2.27	$2.49	+9.7%	—	—	—
Q1 24	$1.86	$2	+7.5%	—	—	—
Q4 23	$1.96	$1.83	-6.6%	—	—	—
Q3 23	$1.89	$2	+5.8%	—	$19.3B	—
Q2 23	$1.69	$1.86	+10.1%	—	$19.2B	—
Q1 23	$1.48	$1.58	+6.8%	—	$19.6B	—
Q4 22	$1.1	$1.18	+7.3%	—	$20.3B	—
Q3 22	$0.04	$0.4	+900.0%	—	$19.5B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$9.75	—	—	$88.3B	—
FY24	—	$9.7	—	—	$81.4B	—
FY23	—	$7.02	—	—	$78.6B	—
FY22	—	$2.07	—	—	$79.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$37.5B	$40.6B	$43.3B	$45B	$68.4B	$80.1B	$79.6B	$78.6B	$81.4B	$88.3B
YoY change	+15.5%	+8.31%	+6.66%	+3.9%	+52%	+17.1%	-0.68%	-1.27%	+3.62%	+8.49%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	37.5B	40.6B	43.3B	45B	68.4B	80.1B	79.6B	78.6B	81.4B	88.3B
Cost of revenue	16.6B	17.7B	18.4B	18.5B	28.3B	36.6B	36.2B	30.2B	29.7B	32.8B
Gross profit	20.9B	22.9B	25B	26.5B	40.1B	43.5B	43.4B	48.4B	51.7B	55.5B
Gross margin	55.9%	56.4%	57.6%	58.8%	58.7%	54.3%	54.5%	61.6%	63.6%	62.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	11.4B	12.3B	13.2B	14.1B	18.9B	20.2B	21.6B	21.3B	20.8B	23.5B
Operating expenses	11.4B	12.3B	13.2B	14.1B	18.9B	20.2B	21.6B	21.3B	20.8B	23.5B
Operating income	3.3B	4.7B	5.3B	5.7B	7.1B	6.9B	8.1B	14.2B	18B	18.6B
Operating margin	8.85%	11.5%	12.3%	12.7%	10.3%	8.6%	10.2%	18.1%	22.1%	21%
Non-operating income, net	725M	162M	-54M	-8M	-823M	-199M	-1.6B	93M	113M	-502M
Pretax income	2.3B	3.2B	3.9B	4.6B	3.5B	3.4B	3.1B	11B	14.7B	14.3B
Income tax	867M	-1.4B	1B	1.1B	786M	327M	556M	2.7B	3.4B	3.3B
Net income	1.5B	4.5B	2.9B	3.5B	3.1B	3B	2.6B	8.3B	11.3B	11B
Net margin	3.89%	11.2%	6.67%	7.71%	4.48%	3.77%	3.25%	10.6%	13.9%	12.4%
EBITDA	9.6B	10.6B	11.8B	12.4B	20.8B	23.1B	21.7B	27.1B	31B	31.8B
EPS	1.71	5.39	3.4	4.06	2.68	2.42	2.07	7.02	9.7	9.75
Diluted EPS	1.69	5.2	3.36	4.02	2.65	2.41	2.06	6.93	9.66	9.72

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	19.3B	—	—	—	—	—	—	—	22B	24.3B	23.1B	22.8B
Cost of revenue	7.1B	—	—	—	—	—	—	—	7.7B	10.3B	8.8B	8B
Gross profit	12.1B	12.1B	12.5B	13B	13.1B	13.1B	13.5B	13.8B	14.2B	14.1B	14.3B	14.8B
Gross margin	62.9%	—	—	—	—	—	—	—	64.8%	57.8%	61.8%	64.8%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	5.3B	—	—	—	—	—	—	—	6B	6.6B	6B	5.8B
Operating expenses	5.3B	—	—	—	—	—	—	—	6B	6.6B	6B	5.8B
Operating income	3.6B	—	—	—	—	—	—	—	4.8B	3.7B	4.5B	5.5B
Operating margin	18.7%	—	—	—	—	—	—	—	21.9%	15.4%	19.5%	24.1%
Non-operating income, net	41M	—	—	—	—	—	—	—	-356M	-89M	-132M	-107M
Pretax income	2.8B	—	—	—	—	—	—	—	3.5B	2.6B	3.3B	4.3B
Income tax	705M	—	—	—	—	—	—	—	814M	532M	830M	1.1B
Net income	2.1B	—	—	—	—	—	—	—	2.7B	2.1B	2.5B	3.2B
Net margin	11.1%	—	—	—	—	—	—	—	12.4%	8.64%	10.8%	14.2%
EBITDA	6.8B	—	—	—	—	—	—	—	8.1B	7.4B	8.2B	8.8B
EPS	1.83	1.74	2	2.5	2.62	—	2.59	2.84	2.42	1.89	2.28	2.99
Diluted EPS	1.82	1.67	2	2.49	2.61	—	2.58	2.84	2.41	1.88	2.27	2.99

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	47.3B	52.8B	54.1B	67B	—	144.6B	175B	190B	258.1B	229B	178.5B
Enterprise value	66.6B	82.5B	68.4B	107.8B	—	246.8B	282.3B	298B	366.6B	345.7B	295.1B
Shares outstanding	822.5M	831.9M	849.7M	854.1M	1.1B	1.2B	1.2B	1.2B	1.2B	1.1B	1.1B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	32.4	11.6	18.7	19.3	—	47.8	67.6	22.8	22.8	20.8	17.3
P/S	1.26	1.3	1.25	1.49	—	1.81	2.2	2.42	3.17	2.59	1.92
P/B	2.59	2.34	2.19	2.33	—	2.09	2.51	2.94	4.18	3.87	3.16
EV/EBITDA	6.96	7.8	5.81	8.72	—	10.7	13	11	11.8	10.9	8.58
EV/Sales	1.78	2.03	1.58	2.4	—	3.08	3.55	3.79	4.5	3.91	3.2
Earnings yield	3.09%	8.59%	5.34%	5.18%	—	2.09%	1.48%	4.38%	4.39%	4.8%	5.78%
FCF yield	-12.5%	-13.7%	-3.27%	-0.8%	—	-5.38%	-0.3%	4.08%	3.87%	6.74%	6.35%
PEG	—	—	—	—	—	—	—	—	—	—	3.28

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	55.9%	56.4%	57.6%	58.8%	58.7%	54.3%	54.5%	61.6%	63.6%	62.9%	64.8%
Operating margin	8.85%	11.5%	12.3%	12.7%	10.3%	8.6%	10.2%	18.1%	22.1%	21%	25.2%
Net margin	3.89%	11.2%	6.67%	7.71%	4.48%	3.77%	3.25%	10.6%	13.9%	12.4%	11.5%
ROE	8.01%	20.1%	11.7%	12%	4.69%	4.38%	3.72%	12.9%	18.4%	18.6%	18%
ROA	2.22%	6.43%	3.99%	3.99%	1.53%	1.46%	1.23%	4%	5.45%	5.01%	5.97%
ROIC	5.55%	8.91%	10%	6.19%	3.38%	3.63%	3.77%	6.24%	8.15%	8.12%	8.19%
Return on tangible assets	18.9%	-114.3%	-101.4%	35%	182.8%	-24.2%	-22.1%	-53.9%	-47%	-92.6%	-63.1%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.58	0.77	0.81	0.74	1.1	0.89	0.77	0.91	0.91	1	0.92
Quick ratio	1.45	0.64	0.7	0.67	0.98	0.78	0.69	0.83	0.83	0.9	0.83
Debt / equity	1.36	1.37	0.63	1.47	1.64	1.57	1.6	1.75	1.85	2.07	2.14
Debt / assets	0.38	0.44	0.21	0.49	0.54	0.53	0.53	0.54	0.55	0.56	0.56
Net debt / EBITDA	2.02	2.81	1.22	3.3	4.66	4.43	4.94	3.98	3.5	3.66	3.58
Interest coverage	2.35	2.89	3.89	5.06	2.31	2	1.94	4.3	5.31	4.78	4.44
Effective tax rate	37.3%	0%	26.3%	24.7%	22.3%	9.76%	17.7%	24.4%	22.9%	23%	23.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	45.6	48.8	51	52.7	59.8	64.2	63.7	66.3	69.6	78.3	83.4
EPS (basic)	1.71	5.39	3.4	4.06	2.68	2.42	2.07	7.02	9.7	9.75	9.75
EPS (diluted)	1.69	5.2	3.36	4.02	2.65	2.41	2.06	6.93	9.66	9.72	9.56
Book value per share	22.2	27.1	29.1	33.7	57.1	55.4	55.7	54.6	52.8	52.5	52.3
FCF per share	-7.16	-8.7	-2.08	-0.63	-3.26	-6.23	-0.42	6.54	8.54	13.7	15
Cash per share	6.69	1.47	1.42	1.79	9.08	5.32	3.61	4.33	4.63	4.96	2.63
Capex per share	5.72	6.3	6.52	7.44	9.64	9.85	11.2	8.26	7.56	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	12.5%	12.9%	12.8%	14.1%	16.1%	15.3%	17.5%	12.5%	10.9%	—	—
Capex / operating cash flow	178.2%	163.3%	166.7%	77%	86.2%	96.6%	98.8%	52.6%	38.3%	—	—
Payout ratio	3.77%	1.21%	0%	0%	—	0%	0%	8.98%	29.1%	37.5%	41.2%
Dividend yield	0.12%	0.1%	0%	0%	—	0%	0%	0.39%	1.28%	1.8%	2.45%

Yield

2.45%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.02

ex-dividend Aug 28, 2026

Payout ratio

41%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 28, 2026	$1.02
May 29, 2026	$1.02
Feb 27, 2026	$1.02
Nov 26, 2025	$1.02
Aug 29, 2025	$0.88
May 30, 2025	$0.88
Feb 28, 2025	$0.88
Nov 27, 2024	$0.88

Split history

Date	Ratio
May 1, 2013	1:2

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$19.3B	—	—	—	—	—	—	—	$22B	$24.3B	$23.1B	$22.8B
YoY change	-1.16%	—	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	5.5B	1.2B	1.2B	1.5B	10.4B	6.6B	4.5B	5.1B	5.4B	5.6B
Receivables	1.9B	1.9B	1.8B	1.9B	4.3B	4.2B	4.4B	4.7B	4.3B	4.9B
Inventory	1.1B	1.6B	1.1B	964M	2.5B	2.6B	1.9B	1.7B	1.6B	2.4B
Total current assets	14.2B	8.9B	8.3B	9.3B	23.9B	20.9B	19.1B	19B	18.4B	24.5B
Property, plant & equipment	19.3B	20.1B	20.9B	33B	68.2B	65.7B	69.4B	66.4B	62.6B	62.3B
Goodwill & intangibles	58.1B	74.5B	75.3B	77B	198.5B	219.1B	223.1B	223.1B	232.2B	231.1B
Total assets	65.9B	70.6B	72.5B	86.9B	200.2B	206.6B	211.3B	207.7B	208B	219.2B
Accounts payable	5.2B	6.2B	5.5B	4.3B	5.6B	6.5B	7.2B	5.6B	3.8B	4.4B
Short-term debt	354M	1.6B	841M	3.3B	9.5B	10.2B	9.8B	8.4B	8.5B	10.1B
Total current liabilities	9B	11.5B	10.3B	12.5B	21.7B	23.5B	24.7B	20.9B	20.2B	24.5B
Long-term debt	24.5B	29.3B	14.7B	39.1B	97.7B	98.6B	102B	104.7B	105.4B	112.2B
Total liabilities	47.7B	48B	47.8B	58.1B	134.8B	137.5B	141.7B	143B	146.3B	160B
Shareholders' equity	18.2B	22.6B	24.7B	28.8B	65.3B	69.1B	69.7B	64.7B	61.7B	59.2B
Total debt	24.8B	30.9B	15.5B	42.3B	107.2B	108.8B	111.8B	113.1B	113.9B	122.3B
Net debt	19.3B	29.7B	14.3B	40.8B	96.9B	102.2B	107.3B	108B	108.5B	116.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	5B	5.1B	6.7B	6.4B	9.8B	5.4B	12B	10.3B	3.3B	5.6B	3.5B	2.8B
Receivables	4.5B	4.7B	4.3B	4.6B	4.3B	4.3B	4.4B	4.6B	5.1B	4.9B	4.9B	5.2B
Inventory	1.7B	1.7B	1.5B	1.3B	1.8B	1.6B	1.9B	1.7B	2.4B	2.4B	2.3B	2.2B
Total current assets	18.7B	19B	19.3B	19.3B	22.5B	18.4B	27.4B	26.8B	21.7B	24.5B	22.1B	21.8B
Property, plant & equipment	72B	66.4B	69.2B	67.7B	66.8B	62.6B	65.9B	65.3B	67.7B	62.3B	65B	64.2B
Goodwill & intangibles	223.5B	223.1B	223.7B	229.3B	229B	232.2B	229.6B	223.7B	231.1B	231.1B	229.6B	230.3B
Total assets	208.6B	207.7B	206.3B	208.6B	210.7B	208B	214.6B	212.6B	217.2B	219.2B	214.7B	213.6B
Accounts payable	4.6B	5.6B	3.3B	3.3B	3B	3.8B	4B	4.1B	4.7B	4.4B	4.6B	4.3B
Short-term debt	8.3B	8.4B	10.1B	10.3B	10.4B	8.5B	12.7B	10.9B	11B	10.1B	7B	10.9B
Total current liabilities	21.7B	20.9B	20.6B	23B	21B	20.2B	23.6B	22.1B	24.3B	24.5B	20.3B	23.6B
Long-term debt	105.6B	104.7B	105.6B	103.8B	105.7B	105.4B	108.3B	107B	109.4B	112.2B	114.2B	108.5B
Total liabilities	143.9B	143B	144.2B	145.9B	146.5B	146.3B	153.5B	151.5B	156.7B	160B	158.8B	157.3B
Shareholders' equity	64.7B	64.7B	62.1B	62.6B	64.3B	61.7B	61.1B	61.1B	60.5B	59.2B	55.9B	56.3B
Total debt	113.9B	113.1B	115.7B	114.2B	116.2B	113.9B	120.9B	117.9B	120.4B	122.3B	121.2B	119.4B
Net debt	108.9B	108B	109B	107.7B	106.4B	108.5B	108.9B	107.6B	117.1B	116.7B	117.7B	116.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.5B	4.5B	2.9B	3.5B	3.1B	3B	2.6B	8.3B	11.3B	11B
Depreciation & amortization	6.2B	6B	6.5B	6.6B	14.2B	16.4B	13.7B	12.8B	12.9B	13.5B
Stock-based compensation	235M	306M	424M	495M	694M	540M	595M	667M	649M	829M
Change in working capital	-6.4B	-6.4B	-7.5B	-3.7B	-6.3B	-7.7B	-3.6B	-5.9B	-5B	-3.9B
Operating cash flow	2.6B	3.2B	3.3B	8.2B	12.8B	12.7B	14.1B	18.6B	23.1B	27.9B
Capital expenditure	-4.7B	-5.2B	-5.5B	-6.4B	-11B	-12.3B	-14B	-9.8B	-8.8B	—
Investing cash flow	1.6B	-917M	-452M	-2.5B	-11.4B	-10B	-9B	-4.8B	-5.6B	-7.3B
Dividends paid	-55M	-55M	0	0	—	0	0	-747M	-3.3B	-4.1B
Share repurchases	0	-427M	-1.1B	0	-19.5B	0	-3B	-13.1B	-11.2B	-10B
Financing cash flow	313M	-1.7B	-3.6B	-5.5B	-6.4B	1.5B	-6.5B	-12.1B	-12.8B	-10.1B
Net change in cash	4.6B	623M	-765M	232M	-5B	4.2B	-1.4B	1.7B	4.7B	10.6B
Free cash flow	-5.9B	-7.2B	-1.8B	-534M	-3.7B	-7.8B	-520M	7.7B	10B	15.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	2.1B	2B	2.4B	2.9B	3.1B	3B	3B	3.2B	2.7B	2.1B	2.5B	3.2B
Depreciation & amortization	3.2B	3.3B	3.4B	3.2B	3.2B	3.1B	3.2B	3.1B	3.4B	3.8B	3.8B	3.4B
Stock-based compensation	156M	167M	140M	164M	170M	175M	186M	200M	227M	216M	209M	214M
Change in working capital	-1.4B	-2B	-142M	-2B	-1.3B	-1.5B	-508M	-765M	-1.4B	-1.2B	-229M	-621M
Operating cash flow	4.8B	4.2B	6.5B	5.2B	6B	5.4B	6.8B	6.6B	7.5B	6.7B	7.2B	7.5B
Capital expenditure	-2.4B	-1.6B	-2.6B	-2B	-2B	-2.2B	-2.5B	-330M	—	—	—	—
Investing cash flow	-1.3B	-436M	-1.7B	-1.5B	-888M	-1.5B	-3.3B	-717M	-5.9B	-45M	-295M	119M
Dividends paid	0	—	-769M	-759M	-758M	-1B	-1B	-996M	-987M	-1.1B	-1.1B	-1.1B
Share repurchases	-2.7B	-2.2B	-3.6B	-2.4B	-560M	-4.7B	-2.5B	-2.6B	-2.5B	-2.4B	-4.8B	-2.3B
Financing cash flow	-5.5B	-2.8B	-1.7B	-4.1B	507M	-7.5B	3.2B	-7.2B	-4.2B	-1.8B	-6.4B	-5.2B
Net change in cash	-2B	963M	3.1B	-453M	5.6B	-3.6B	6.6B	-1.3B	-2.7B	4.8B	487M	2.4B
Free cash flow	2.8B	2.5B	2.4B	3.3B	1.8B	2.5B	4.3B	3.8B	3.2B	4.1B	4.6B	4.3B

T-Mobile US Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement