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TMUS

T-Mobile US, Inc.

TMUS

T-Mobile US, Inc. • NASDAQ
$209.01 ▲ 1.10% (+2.28)
Market Cap $233.80 B
52w High $276.49
52w Low $199.41
Dividend Yield 4.08%
P/E 20.12
Volume 1.23M
Outstanding Shares 1.12B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $21.957B ▲ $5.961B ▼ $2.714B ▼ 12.361% ▼ $2.42 ▼ $7.796B ▼
Q2-2025 $21.132B ▲ $8.543B ▼ $3.222B ▲ 15.247% ▲ $2.84 ▲ $8.348B ▲
Q1-2025 $20.886B ▼ $8.686B ▲ $2.953B ▼ 14.139% ▲ $2.59 ▲ $7.952B ▲
Q4-2024 $21.872B ▲ $8.501B ▲ $2.981B ▼ 13.629% ▼ $2.58 ▼ $7.829B ▼
Q3-2024 $20.162B $8.337B $3.059B 15.172% $2.62 $7.954B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.581B ▼ $217.18B ▲ $156.703B ▲ $60.477B ▼
Q2-2025 $10.259B ▼ $212.643B ▼ $151.536B ▼ $61.107B ▲
Q1-2025 $12.003B ▲ $214.633B ▲ $153.528B ▲ $61.105B ▼
Q4-2024 $5.409B ▼ $208.035B ▼ $146.294B ▼ $61.741B ▼
Q3-2024 $9.754B $210.742B $146.492B $64.25B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.714B ▼ $7.457B ▲ $-10.139B ▼ $-4.238B ▲ $-6.92B ▼ $4.818B ▲
Q2-2025 $3.222B ▲ $6.992B ▲ $-1.559B ▲ $-7.205B ▼ $-1.765B ▼ $4.596B ▲
Q1-2025 $2.953B ▼ $6.847B ▲ $-3.409B ▼ $3.193B ▲ $6.631B ▲ $4.396B ▲
Q4-2024 $2.981B ▼ $5.549B ▼ $-2.3B ▲ $-7.522B ▼ $-4.273B ▼ $2.502B ▲
Q3-2024 $3.059B $6.139B $-3.307B $507M $3.339B $1.759B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Branded Postpaid Revenue
Branded Postpaid Revenue
 $13.50Bn ▲$13.59Bn ▲$14.08Bn ▲$14.88Bn ▲
Branded Prepaid Revenue
Branded Prepaid Revenue
 $2.69Bn ▲$2.64Bn ▼$2.64Bn ▲$2.63Bn ▼
Product and Service Other
Product and Service Other
 $240.00M ▲$260.00M ▲$260.00M ▲$250.00M ▼
Product Equipment
Product Equipment
 $4.70Bn ▲$3.70Bn ▼$3.44Bn ▼$3.46Bn ▲
Wholesale Service Revenue
Wholesale Service Revenue
 $740.00M ▲$690.00M ▼$720.00M ▲$730.00M ▲

Five-Year Company Overview

Income Statement

Income Statement T-Mobile’s income statement shows a company that has moved from heavy integration and investment into a much more efficient, profitable phase. Revenue is large and has generally edged higher over the last five years, but the big story is margin improvement: gross profit, operating profit, and net income have all grown much faster than sales. Profitability has strengthened notably in the last two years as Sprint merger costs have faded and synergies have kicked in. Earnings per share have climbed strongly, helped both by better margins and a smaller share count, reflecting buybacks. Overall, the business looks like a mature, high-scale operator that is now extracting more value from a largely stable revenue base.

Balance Sheet

Balance Sheet The balance sheet reflects a capital‑intensive telecom business with a large asset base and meaningful debt, but without major recent swings. Total assets have stayed broadly stable, suggesting the peak 5G build-out is largely behind them. Debt levels are high in absolute terms yet have only inched up over time, while equity has come down somewhat, likely due to share repurchases returning capital to shareholders. Cash on hand is modest relative to debt, which keeps leverage a key consideration, but the stability of assets and liabilities signals no obvious balance-sheet shock. The picture is of a heavily invested, but fairly steady, infrastructure owner relying on strong ongoing cash generation to support its obligations.

Cash Flow

Cash Flow Cash flow is a clear bright spot. Operating cash flow has risen sharply over the past five years, showing that the core business is converting more of its earnings into cash. Capital spending was very heavy during the peak 5G rollout period, which pushed free cash flow negative for a time. As network investment has started to normalize, free cash flow has turned positive and grown meaningfully in the last three years. That shift—from cash consumer to strong cash generator—gives T-Mobile more flexibility to reduce debt, buy back stock, or pursue targeted investments, as long as it keeps capex disciplined and cash flows resilient.

Competitive Edge

Competitive Edge T-Mobile holds a strong competitive position in U.S. wireless, built on its 5G leadership and distinct brand. The Sprint merger gave it a powerful spectrum portfolio, especially in mid-band frequencies that balance coverage and speed, helping T-Mobile consistently rank well in independent network tests. Its “Un‑carrier” strategy—simpler plans, fewer fees, extra perks—has built a reputation for customer friendliness that rivals struggle to mimic credibly. Scale now rivals the largest players, which supports cost efficiency and pricing flexibility. At the same time, the market is mature and intensely competitive, so growth depends on stealing share, expanding into home internet and enterprise services, and maintaining network leadership while Verizon and AT&T keep investing heavily.

Innovation and R&D

Innovation and R&D Innovation at T-Mobile is less about lab research budgets and more about how it uses network technology, partnerships, and digital tools. It has led with a nationwide standalone 5G core, is pushing into 5G Advanced and network slicing, and is experimenting with satellite-to-cell connectivity through its Starlink collaboration to close coverage gaps. On the product side, it has turned 5G capacity into new offerings like fixed wireless home internet and tailored plans for specific customer groups. The T‑Life app and growing use of AI to manage the network and personalize the customer experience are examples of digital innovation layered on top of infrastructure. Looking ahead, the company is positioning itself for enterprise 5G solutions, internet-of-things connectivity, and eventually 6G, though the timing and scale of revenue from these emerging areas remain uncertain.

Summary

T-Mobile today looks like a scaled, maturing telecom operator that has successfully digested a large merger and is now reaping the benefits. Financially, it has shifted from integration and build-out mode into a period of stronger earnings and robust free cash flow, while still carrying substantial but manageable debt. Competitively, it enjoys a clear 5G network edge in many metrics, a differentiated brand built around customer value, and growing footholds in home internet and business services. The main opportunities lie in monetizing its network advantages—through enterprise 5G, fixed wireless broadband, digital services, and potentially satellite connectivity—while managing the risks of high leverage, a saturated wireless market, aggressive competitors, and ongoing technology upgrade demands. Overall, it appears to be moving from an investment-heavy growth story toward a more cash-generative, efficiency-driven phase, with innovation aimed at opening new lanes of growth on top of that foundation.

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