Telephone and Data Systems, Inc. (TDS) Financial Ratios
30 years of historical data (1996–2025) · Communication Services · Telecommunications Services
EV/EBITDA
↑
18.62
↑+74% vs avg
5yr avg: 10.69
30Y Low3.0·High20.4
P/FCF
↓
1.54
↓-83% vs avg
5yr avg: 8.93
30Y Low1.7·High50.0
P/B Ratio
↑
0.87
↑+78% vs avg
5yr avg: 0.49
30Y Low0.2·High2.1
ROE
↓
-0.1%
↓+89% vs avg
5yr avg: -1.0%
30Y Low-26%·High61%
Debt/EBITDA
↑
6.74
+12% vs avg
5yr avg: 6.03
30Y Low1.3·High10.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TDS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Telephone and Data Systems, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 1.5x P/FCF, 83% below the 5-year average of 8.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.2B | $4.7B | $3.9B | $2.1B | $1.2B | $2.3B | $2.1B | $2.9B | $3.7B | $3.1B | $3.2B |
| Enterprise Value | $5.4B | $5.9B | $8.6B | $7.0B | $5.6B | $6.0B | $5.2B | $5.9B | $5.2B | $5.0B | $4.7B |
| P/E Ratio → | -59.98 | — | — | — | — | 20.15 | 9.62 | 24.69 | 27.58 | 20.29 | 74.03 |
| P/S Ratio | 3.43 | 3.84 | 0.78 | 0.40 | 0.22 | 0.44 | 0.41 | 0.57 | 0.73 | 0.62 | 0.63 |
| P/B Ratio | 0.87 | 0.90 | 0.66 | 0.35 | 0.18 | 0.35 | 0.38 | 0.54 | 0.70 | 0.64 | 0.67 |
| P/FCF | 1.54 | 1.73 | 16.14 | — | — | — | 13.02 | 50.00 | 15.39 | 34.22 | 21.95 |
| P/OCF | 7.13 | 8.01 | 3.40 | 1.82 | 1.04 | 2.12 | 1.39 | 2.90 | 3.65 | 4.01 | 4.10 |
P/E links to full P/E history page with 30-year chart
TDS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Telephone and Data Systems, Inc.'s enterprise value stands at 18.6x EBITDA, 74% above its 5-year average of 10.7x. The Communication Services sector median is 9.6x, placing the stock at a 94% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.81 | 1.74 | 1.35 | 1.04 | 1.13 | 1.00 | 1.13 | 1.02 | 0.98 | 0.93 |
| EV / EBITDA | 18.62 | 20.39 | 8.58 | 13.93 | 5.37 | 5.19 | 4.46 | 5.27 | 4.80 | 6.70 | 5.22 |
| EV / EBIT | — | 29.31 | 33.31 | — | 37.35 | 21.07 | 18.52 | 30.83 | 26.67 | 103.16 | 41.66 |
| EV / FCF | — | 2.16 | 35.79 | — | — | — | 31.74 | 99.29 | 21.69 | 54.41 | 32.53 |
TDS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Telephone and Data Systems, Inc. earns an operating margin of -5.0%, below the Communication Services sector average of 1.6%. Operating margins have expanded from -8.0% to -5.0% over the past 3 years, signaling improving operational efficiency. A negative ROE of -0.1% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -5.0% | -5.0% | 57.0% | 54.8% | 52.6% | 53.6% | 54.9% | 54.8% | 54.3% | 53.2% | 52.4% |
| Operating Margin | -5.0% | -5.0% | 1.3% | -8.0% | 2.3% | 4.9% | 5.0% | 3.5% | 4.0% | -2.1% | 1.2% |
| Net Profit Margin | -0.5% | -0.5% | -0.6% | -9.7% | 1.1% | 2.9% | 4.3% | 2.3% | 2.6% | 3.0% | 0.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.1% | -0.1% | -0.5% | -7.9% | 0.9% | 2.5% | 4.1% | 2.3% | 2.6% | 3.2% | 0.9% |
| ROA | -0.1% | -0.1% | -0.2% | -3.5% | 0.4% | 1.2% | 1.9% | 1.2% | 1.4% | 1.6% | 0.5% |
| ROIC | -0.5% | -0.5% | 0.4% | -2.8% | 0.9% | 2.1% | 2.3% | 1.8% | 2.3% | -1.2% | 0.7% |
| ROCE | -0.6% | -0.6% | 0.5% | -3.2% | 1.0% | 2.2% | 2.4% | 1.9% | 2.4% | -1.2% | 0.7% |
TDS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Telephone and Data Systems, Inc. carries a Debt/EBITDA ratio of 6.7x, which is highly leveraged (87% above the sector average of 3.6x). Net debt stands at $1.2B ($2.0B total debt minus $766M cash). Interest coverage of just 1.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.37 | 0.37 | 0.87 | 0.86 | 0.73 | 0.60 | 0.80 | 0.62 | 0.46 | 0.50 | 0.51 |
| Debt / EBITDA | 6.74 | 6.74 | 5.07 | 10.27 | 4.57 | 3.49 | 3.85 | 3.04 | 2.24 | 3.32 | 2.69 |
| Net Debt / Equity | — | 0.23 | 0.81 | 0.82 | 0.67 | 0.54 | 0.55 | 0.54 | 0.29 | 0.38 | 0.33 |
| Net Debt / EBITDA | 4.10 | 4.10 | 4.71 | 9.79 | 4.23 | 3.17 | 2.63 | 2.62 | 1.40 | 2.49 | 1.70 |
| Debt / FCF | — | 0.43 | 19.66 | — | — | — | 18.71 | 49.29 | 6.30 | 20.20 | 10.58 |
| Interest Coverage | 1.79 | 1.79 | 0.93 | -0.95 | 0.87 | 1.23 | 1.67 | 1.15 | 1.14 | 0.28 | 0.67 |
TDS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Telephone and Data Systems, Inc.'s current ratio of 2.10x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 1.40x to 2.10x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.10 | 2.10 | 1.56 | 1.40 | 1.34 | 1.75 | 2.62 | 2.00 | 2.65 | 2.14 | 2.32 |
| Quick Ratio | 2.09 | 2.09 | 1.39 | 1.23 | 1.16 | 1.60 | 2.49 | 1.82 | 2.48 | 1.98 | 2.15 |
| Cash Ratio | 1.74 | 1.74 | 0.33 | 0.20 | 0.24 | 0.31 | 1.24 | 0.48 | 1.07 | 0.78 | 1.01 |
| Asset Turnover | — | 0.15 | 0.36 | 0.37 | 0.37 | 0.39 | 0.42 | 0.48 | 0.52 | 0.54 | 0.54 |
| Inventory Turnover | 317.63 | 317.63 | 11.67 | 11.22 | 9.57 | 13.89 | 15.29 | 13.83 | 15.57 | 16.27 | 16.09 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
TDS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Telephone and Data Systems, Inc. returns 5.0% to shareholders annually — split between a 1.9% dividend yield and 3.1% buyback yield.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.9% | 1.9% | 2.7% | 7.4% | 12.6% | 5.1% | 3.7% | 2.5% | 1.9% | 2.2% | 2.0% |
| Payout Ratio | — | — | — | — | 243.5% | 76.3% | 34.5% | 62.0% | 53.3% | 45.1% | 151.2% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 5.0% | 10.4% | 4.1% | 3.6% | 4.9% | 1.4% |
| FCF Yield | 65.0% | 57.9% | 6.2% | — | — | — | 7.7% | 2.0% | 6.5% | 2.9% | 4.6% |
| Buyback Yield | 3.1% | 2.7% | 1.4% | 0.3% | 6.9% | 2.6% | 1.7% | 0.7% | 0.0% | 0.0% | 0.2% |
| Total Shareholder Yield | 5.0% | 4.6% | 4.1% | 7.7% | 19.6% | 7.7% | 5.4% | 3.3% | 1.9% | 2.2% | 2.3% |
| Shares Outstanding | — | $115M | $114M | $113M | $114M | $116M | $115M | $116M | $114M | $112M | $111M |
Peer Comparison
Compare TDS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TDSYou | $4B | -60.0 | 18.6 | 1.5 | -5.0% | -5.0% | -0.1% | -0.5% | 6.7 |
 LUMN | $8B | -4.7 | 9.8 | 22.8 | 46.5% | -1.5% | — | -0.8% | 6.9 |
 SHEN | $784M | -20.0 | 12.8 | — | 26.9% | -6.2% | -4.0% | -1.1% | 5.9 |
 T | $154B | 7.2 | 6.9 | 7.9 | 79.8% | 19.2% | 17.6% | 6.7% | 3.9 |
 VZ | $191B | 11.2 | 7.8 | 9.5 | 45.6% | 21.2% | 16.6% | 8.0% | 4.2 |
 TMUS | $197B | 18.7 | 9.7 | 19.0 | 47.6% | 21.2% | 18.2% | 8.1% | 3.8 |
 CABO | $233M | -0.6 | 4.4 | 0.8 | 51.3% | 26.5% | -22.1% | 6.1% | 4.3 |
 WOW | $446M | -7.2 | 6.7 | — | 59.3% | 1.0% | -25.2% | 0.4% | 4.8 |
 CSCO | $471B | 46.9 | 33.6 | 35.5 | 64.9% | 20.8% | 22.1% | 13.0% | 1.9 |
 NOK | $77B | 106.9 | 35.3 | 47.8 | 43.5% | 3.9% | 3.1% | 3.0% | 2.7 |
 ERIC | $35B | 13.6 | 8.9 | 11.8 | 48.1% | 13.8% | 26.3% | 22.3% | 1.2 |
| Communication Services Median | — | 15.3 | 9.6 | 11.4 | 48.5% | 1.6% | 2.0% | 2.6% | 3.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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TDS — Frequently Asked Questions
Quick answers to the most common questions about buying TDS stock.
What is Telephone and Data Systems, Inc.'s P/E ratio?
Telephone and Data Systems, Inc.'s current P/E ratio is -60.0x. The historical average is 30.5x.
What is Telephone and Data Systems, Inc.'s EV/EBITDA?
Telephone and Data Systems, Inc.'s current EV/EBITDA is 18.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.3x.
What is Telephone and Data Systems, Inc.'s ROE?
Telephone and Data Systems, Inc.'s return on equity (ROE) is -0.1%. The historical average is 3.2%.
Is TDS stock overvalued?
Based on historical data, Telephone and Data Systems, Inc. is trading at a P/E of -60.0x. Compare with industry peers and growth rates for a complete picture.
What is Telephone and Data Systems, Inc.'s dividend yield?
Telephone and Data Systems, Inc.'s current dividend yield is 1.92%.
What are Telephone and Data Systems, Inc.'s profit margins?
Telephone and Data Systems, Inc. has -5.0% gross margin and -5.0% operating margin.
How much debt does Telephone and Data Systems, Inc. have?
Telephone and Data Systems, Inc.'s Debt/EBITDA ratio is 6.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.