T-Mobile US, Inc. (TMUS) 10-Year Financial Performance & Capital Metrics

TMUS • • Utilities

Communication ServicesTelecom ServicesIntegrated Telecommunications ProvidersMajor US Wireless Carriers

AboutT-Mobile US, Inc., together with its subsidiaries, provides mobile communications services in the United States, Puerto Rico, and the United States Virgin Islands. The company offers voice, messaging, and data services to 108.7 million customers in the postpaid, prepaid, and wholesale markets. It also provides wireless devices, including smartphones, wearables, and tablets and other mobile communication devices, as well as wireless devices and accessories. In addition, the company offers services, devices, and accessories under the T-Mobile and Metro by T-Mobile brands through its owned and operated retail stores, T-Mobile app and customer care channels, and its websites. It also sells its devices to dealers and other third-party distributors for resale through independent third-party retail outlets and various third-party websites. As of December 31, 2021, it operated approximately 102,000 macro cell and 41,000 small cell/distributed antenna system sites. The company was founded in 1994 and is headquartered in Bellevue, Washington.Show more

Revenue $81.4B +3.6%
EBITDA $30.93B +14.2%
Net Income $11.34B +36.3%
Free Cash Flow $9.98B +28.8%
EBITDA Margin 38% +10.2%
Net Margin 13.93% +31.6%
ROE 17.93% +44.9%
Interest Coverage 5.28 +23.4%
Debt/Equity 1.85 +5.3%
Net Debt/EBITDA 3.52 -12.2%
CapEx / Revenue 10.86% -13.0%
CapEx Coverage 2.52 +33.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 26.7%
✓Strong Piotroski F-Score: 8/9
✓Strong interest coverage of 5.3x
✓Share count reduced 2.3% through buybacks

✗Weaknesses

✗Weak momentum: RS Rating 20 (bottom 20%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.66%

5Y12.59%

3Y0.53%

TTM7.3%

Profit (Net Income) CAGR

10Y46.62%

5Y26.74%

3Y55.36%

TTM14.44%

EPS CAGR

10Y41.51%

5Y19.17%

3Y58.85%

TTM18.47%

ROCE

10Y Avg6.77%

5Y Avg5.97%

3Y Avg6.93%

Latest9.62%

Peer Comparison

Major US Wireless Carriers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TMUST-Mobile US, Inc.	212.15B	189.67	19.63	3.62%	13.83%	19.63%	4.71%	1.85
TAT&T Inc.	165.18B	23.30	15.64	-0.08%	17.87%	17.28%	11.2%	1.17
TBBAT&T Inc. 5.35% GLB NTS 66	139.19B	22.67	15.21	-0.08%	17.87%	17.28%	13.3%	1.17
VZVerizon Communications Inc.	164.48B	39.01	9.40	0.61%	14.43%	18.65%	11.5%	1.67
CMCSAComcast Corporation	103.51B	28.48	6.88	1.78%	18.33%	23.15%	14.97%	1.15

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	32.47B	37.49B	40.6B	43.31B	45B	68.4B	80.12B	79.57B	78.56B	81.4B
Revenue Growth %	0.1%	0.15%	0.08%	0.07%	0.04%	0.52%	0.17%	-0.01%	-0.01%	0.04%
Cost of Revenue	14.9B	16.55B	17.71B	18.35B	18.52B	28.27B	36.6B	36.21B	30.19B	29.65B
Gross Profit+	17.57B	20.94B	22.9B	24.96B	26.48B	40.13B	43.51B	43.37B	48.37B	51.75B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.24%	0.19%	0.09%	0.09%	0.06%	0.52%	0.08%	-0%	0.12%	0.07%
Operating Expenses+	15.09B	16.89B	18.01B	19.65B	20.75B	33.49B	36.62B	36.82B	34.1B	33.74B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	7.17B	10.29B	10.87B	11.79B	12.34B	20.79B	23.27B	20.19B	27.08B	30.93B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.23%	0.44%	0.06%	0.08%	0.05%	0.68%	0.12%	-0.13%	0.34%	0.14%
Depreciation & Amortization+	4.69B	6.24B	5.98B	6.49B	6.62B	14.15B	16.38B	13.65B	12.82B	12.92B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	2.48B	4.05B	4.89B	5.31B	5.72B	6.64B	6.89B	6.54B	14.27B	18.01B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.75%	0.63%	0.21%	0.09%	0.08%	0.16%	0.04%	-0.05%	1.18%	0.26%
Interest Expense+	1.5B	1.73B	1.67B	1.36B	1.14B	2.7B	3.34B	3.36B	3.33B	3.41B
Interest Coverage	1.66x	2.34x	2.93x	3.91x	5.04x	2.46x	2.06x	1.95x	4.28x	5.28x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	978M	2.33B	3.16B	3.92B	4.6B	3.53B	3.35B	3.15B	11B	14.71B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	245M	867M	-1.38B	1.03B	1.14B	786M	327M	556M	2.68B	3.37B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	733M	1.46B	4.54B	2.89B	3.47B	3.06B	3.02B	2.59B	8.32B	11.34B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	1.97%	0.99%	2.11%	-0.36%	0.2%	-0.12%	-0.01%	-0.14%	2.21%	0.36%
EPS (Diluted)+	0.82	1.69	5.20	3.36	4.02	2.65	2.41	2.06	6.93	9.66
EPS Growth %	1.73%	1.06%	2.08%	-0.35%	0.2%	-0.34%	-0.09%	-0.15%	2.36%	0.39%
EPS (Basic)	0.83	1.71	5.39	3.40	4.06	2.68	2.42	2.07	7.02	9.70
Diluted Shares Outstanding	822.62M	833.05M	871.79M	858.29M	863.43M	1.15B	1.25B	1.26B	1.2B	1.17B

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	62.44B	65.89B	70.56B	72.47B	86.92B	200.16B	206.56B	211.34B	207.68B	208.03B
Asset Growth %	0.1%	0.06%	0.07%	0.03%	0.2%	1.3%	0.03%	0.02%	-0.02%	0%
PP&E (Net)+	20B	20.94B	22.2B	23.36B	35.63B	72.22B	70.08B	74.06B	70.84B	67.02B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	14.89B	14.22B	8.91B	8.28B	9.3B	23.89B	20.89B	19.07B	19.02B	18.4B
Cash & Equivalents	4.58B	5.5B	1.22B	1.2B	1.53B	10.38B	6.63B	4.51B	5.13B	5.41B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	1.29B	1.11B	1.57B	1.08B	964M	2.53B	2.57B	1.88B	1.68B	1.61B
Other Current Assets	1.81B	1.54B	1.9B	1.68B	1.97B	2.5B	2B	2.44B	2.35B	1.85B
Long-Term Investments	0	0	0	0	0	0	0	0	0	2.28B
Goodwill	1.68B	1.68B	1.68B	1.9B	1.93B	11.12B	12.19B	12.23B	12.23B	13.01B
Intangible Assets	24.55B	27.39B	35.58B	35.76B	36.58B	88.13B	97.34B	99.31B	99.33B	103.07B
Other Assets	1.29B	1.66B	2.19B	3.17B	3.47B	4.81B	6.06B	6.67B	6.27B	4.25B
Total Liabilities	45.86B	47.66B	48B	47.75B	58.13B	134.82B	137.46B	141.68B	142.97B	146.29B
Total Debt+	23.3B	24.81B	30.91B	16.36B	42.33B	107.25B	108.82B	111.79B	113.83B	114.4B
Net Debt	18.72B	19.31B	29.69B	15.16B	40.81B	96.86B	102.19B	107.28B	108.69B	109B
Long-Term Debt	20.46B	21.83B	26.71B	12.12B	24.94B	66.55B	68.57B	66.8B	71.4B	74.2B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	3.48B	1.09B	1.21B	841M	15.13B	33.09B	31.82B	35.9B	38.07B	32.02B
Total Current Liabilities+	9.53B	9.02B	11.52B	10.27B	12.51B	21.7B	23.5B	24.74B	20.93B	20.17B
Accounts Payable	6.14B	5.16B	6.18B	5.49B	4.32B	5.56B	6.5B	7.21B	4.83B	3.78B
Accrued Expenses	1.34B	1.37B	1.44B	1.48B	1.56B	2.69B	2.65B	3.4B	3.1B	2.7B
Deferred Revenue	717M	986M	779M	698M	631M	1.03B	856M	780M	825M	1.22B
Other Current Liabilities	410M	405M	414M	-54M	1.67B	810M	1.07B	1.85B	1.3B	1.97B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	9.15B	9.24B	3.65B	18.33B	954M	5.41B	5.1B	4.1B	3.93B	4B
Total Equity+	16.56B	18.24B	22.56B	24.72B	28.79B	65.34B	69.1B	69.66B	64.72B	61.74B
Equity Growth %	0.06%	0.1%	0.24%	0.1%	0.16%	1.27%	0.06%	0.01%	-0.07%	-0.05%
Shareholders Equity	16.56B	18.24B	22.56B	24.72B	28.79B	65.34B	69.1B	69.66B	64.72B	61.74B
Minority Interest	0	0	0	0	0	0	0	0	0	0
Common Stock	0	0	0	0	0	0	0	0	0	0
Additional Paid-in Capital	38.67B	38.85B	38.63B	38.01B	38.5B	72.77B	73.29B	73.94B	67.7B	68.8B
Retained Earnings	-22.11B	-20.61B	-16.07B	-12.95B	-8.83B	-5.84B	-2.81B	-223M	7.35B	14.38B
Accumulated OCI	-1M	1M	8M	-332M	-868M	-1.58B	-1.36B	-1.05B	-964M	-857M
Return on Assets (ROA)	0.01%	0.02%	0.07%	0.04%	0.04%	0.02%	0.01%	0.01%	0.04%	0.05%
Return on Equity (ROE)	0.05%	0.08%	0.22%	0.12%	0.13%	0.07%	0.04%	0.04%	0.12%	0.18%
Debt / Equity	1.41x	1.36x	1.37x	0.66x	1.47x	1.64x	1.57x	1.60x	1.76x	1.85x
Debt / Assets	0.37%	0.38%	0.44%	0.23%	0.49%	0.54%	0.53%	0.53%	0.55%	0.55%
Net Debt / EBITDA	2.61x	1.88x	2.73x	1.29x	3.31x	4.66x	4.39x	5.31x	4.01x	3.52x
Book Value per Share	20.13	21.89	25.88	28.8	33.34	56.59	55.07	55.49	53.92	52.63

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	5.41B	6.13B	3.83B	3.9B	6.82B	8.64B	13.92B	16.78B	18.56B	22.29B
Operating CF Growth %	0.31%	0.13%	-0.38%	0.02%	0.75%	0.27%	0.61%	0.21%	0.11%	0.2%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	733M	1.46B	4.54B	2.89B	3.47B	3.06B	3.02B	2.59B	8.32B	11.34B
Depreciation & Amortization	4.69B	6.24B	5.98B	6.49B	6.62B	14.15B	16.38B	13.65B	12.82B	12.92B
Deferred Taxes	256M	914M	-1.4B	980M	1.09B	822M	197M	492M	2.6B	3.12B
Other Non-Cash Items	888M	3.39B	725M	654M	713M	1.79B	887M	2.51B	1.22B	1.27B
Working Capital Changes	-1.35B	-6.11B	-6.32B	-7.53B	-5.56B	-11.88B	-7.11B	-3.06B	-7.06B	-7.01B
Capital Expenditures+	-6.66B	-8.67B	-11.06B	-5.67B	-7.36B	-12.37B	-21.69B	-17.3B	-10.81B	-12.31B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-9.56B	-5.68B	-6.75B	-579M	-4.13B	-12.71B	-19.39B	-12.36B	-5.83B	-9.07B
Acquisitions	0	0	0	-338M	-31M	-3.78B	-1.92B	-52M	0	-373M
Purchase of Investments	-3B	0	0	0	0	-632M	0	0	0	0
Sale of Investments	0	1000K	0	0	0	1000K	0	0	0	0
Other Investing	96M	-8M	4.32B	5.43B	3.26B	3.43B	4.22B	4.99B	3.97B	141M
Cash from Financing+	3.41B	463M	-1.37B	-3.34B	-2.37B	13.01B	1.71B	-6.45B	-12.1B	-12.81B
Dividends Paid	-55M	-55M	-55M	0	0	0	0	0	-747M	-3.3B
Dividend Payout Ratio %	-	-	-	-	-	-	-	-	0.09%	0.29%
Debt Issuance (Net)	1000K	1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	1000K	1000K
Stock Issued	47M	29M	0	0	0	19.84B	0	0	0	0
Share Repurchases	0	0	-427M	-1.07B	-156M	-19.54B	-316M	-3B	-13.07B	-11.23B
Other Financing	63M	-133M	-183M	-264M	-45M	-527M	-307M	-370M	-444M	-434M
Net Change in Cash+	-733M	918M	-4.28B	-16M	325M	8.94B	-3.76B	-2.03B	633M	406M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	5.32B	4.58B	5.5B	1.22B	1.2B	1.53B	10.46B	6.7B	4.67B	5.31B
Cash at End	4.58B	5.5B	1.22B	1.2B	1.53B	10.46B	6.7B	4.67B	5.31B	5.71B
Free Cash Flow+	-1.25B	-2.54B	-7.23B	-1.77B	-534M	-3.73B	-7.78B	-520M	7.75B	9.98B
FCF Growth %	0.59%	-1.04%	-1.85%	0.76%	0.7%	-5.98%	-1.09%	0.93%	15.9%	0.29%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.55%	8.39%	22.24%	12.22%	12.96%	6.51%	4.5%	3.73%	12.38%	17.93%
EBITDA Margin	22.07%	27.46%	26.78%	27.23%	27.42%	30.39%	29.05%	25.38%	34.48%	38%
Net Debt / EBITDA	2.61x	1.88x	2.73x	1.29x	3.31x	4.66x	4.39x	5.31x	4.01x	3.52x
Interest Coverage	1.66x	2.34x	2.93x	3.91x	5.04x	2.46x	2.06x	1.95x	4.28x	5.28x
CapEx / Revenue	20.51%	23.13%	27.25%	13.09%	16.35%	18.08%	27.08%	21.74%	12.48%	10.86%
Dividend Payout Ratio	-	-	-	-	-	-	-	-	8.98%	29.1%
Debt / Equity	1.41x	1.36x	1.37x	0.66x	1.47x	1.64x	1.57x	1.60x	1.76x	1.85x
EPS Growth	173.33%	106.1%	207.69%	-35.38%	19.64%	-34.08%	-9.06%	-14.52%	236.41%	39.39%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Branded Postpaid Revenue	20.86B	22.67B	36.31B	42.56B	45.92B	48.69B	52.34B
Branded Postpaid Revenue Growth	-	8.68%	60.13%	17.23%	7.89%	6.04%	7.49%
Product, Equipment	10.01B	9.84B	17.31B	20.73B	17.13B	14.14B	14.26B
Product, Equipment Growth	-	-1.69%	75.93%	19.73%	-17.35%	-17.47%	0.88%
Branded Prepaid Revenue	9.6B	9.54B	9.42B	9.73B	9.86B	9.77B	10.4B
Branded Prepaid Revenue Growth	-	-0.57%	-1.28%	3.31%	1.27%	-0.91%	6.47%
Wholesale Service Revenue	1.18B	1.28B	2.59B	3.75B	5.55B	4.78B	3.44B
Wholesale Service Revenue Growth	-	8.11%	102.50%	44.83%	47.88%	-13.79%	-28.08%
Product and Service, Other	1.31B	1.16B	690M	1.02B	1.12B	1.18B	959M
Product and Service, Other Growth	-	-11.08%	-40.72%	48.12%	9.39%	5.46%	-18.66%
Roaming and Other Service Revenue	349M	499M	2.08B	-	-	-	-
Roaming and Other Service Revenue Growth	-	42.98%	316.43%	-	-	-	-

Frequently Asked Questions

Valuation & Price

T-Mobile US, Inc. (TMUS) has a price-to-earnings (P/E) ratio of 19.6x. This is roughly in line with market averages.

Growth & Financials

T-Mobile US, Inc. (TMUS) reported $85.85B in revenue for fiscal year 2024. This represents a 316% increase from $20.62B in 2011.

T-Mobile US, Inc. (TMUS) grew revenue by 3.6% over the past year. Growth has been modest.

Yes, T-Mobile US, Inc. (TMUS) is profitable, generating $11.87B in net income for fiscal year 2024 (13.9% net margin).

Dividend & Returns

Yes, T-Mobile US, Inc. (TMUS) pays a dividend with a yield of 1.48%. This makes it attractive for income-focused investors.

T-Mobile US, Inc. (TMUS) has a return on equity (ROE) of 17.9%. This is reasonable for most industries.

T-Mobile US, Inc. (TMUS) generated $8.81B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

T-Mobile US, Inc. (TMUS) has a dividend payout ratio of 29%. This suggests the dividend is well-covered and sustainable.

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