TMUS

MKT CAP:$211B

T-Mobile US, Inc.

Market Cap

$211B

Communication Services·Telecommunications Services·🇺🇸 United States·NASDAQ

Communication·Telecommunications·🇺🇸·NASDAQ

Stock Price

$193.46-$6.13 (-3.07%)

Apr 24, 2026

Company Details

T-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 cust...

CEO

Srinivasan Gopalan

IPO Date

Apr 19, 2007

Website

www.t-mobile.com

Key Metrics TTM

Revenue

$88.3B

+8.5% YoY

Net Income

$11.0B

EPS (Diluted)

$9.71

Free Cash Flow

$18.0B

Revenue / Share

$79.03

Gross Margin

54.8%

Operating Margin

21.2%

Net Margin

12.4%

FCF Margin

20.4%

P/S

2.4x

P/E

19.2x

Earnings Reports

Q1 2026

Apr 28, 2026

PENDING

FY 2025

Feb 11, 2026

$88.3B+8.5%EPS $9.72

Q4 2025

Feb 11, 2026

$24.3B+11.3%EPS $1.88

Q3 2025

Oct 23, 2025

$22.0B+8.9%EPS $2.41

Q2 2025

Jul 23, 2025

$21.1B+6.9%EPS $2.84

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$20.1B	$10.4B	$1.8B
Q2 22	$19.7B	$10.5B	$709M
Q3 22	$19.5B	$10.8B	$1.3B
Q4 22	$20.3B	$11.6B	$2.7B
Q1 23	$19.6B	$12.0B	$3.4B
Q2 23	$19.2B	$12.2B	$3.8B
Q3 23	$19.3B	$12.1B	$3.6B
Q4 23	$20.5B	$12.1B	$3.5B
Q1 24	$19.6B	$12.5B	$4.0B
Q2 24	$19.8B	$13.0B	$4.6B
Q3 24	$20.2B	$13.1B	$4.8B
Q4 24	$21.9B	$13.1B	$4.6B
Q1 25	$20.9B	$13.5B	$4.8B
Q2 25	$21.1B	$13.8B	$5.2B
Q3 25	$22.0B	$10.8B	$4.9B
Q4 25	$24.3B	$10.3B	$3.9B

Valuation

Quarter	P/S	P/E
Q1 22	2.0x	56.4x
Q2 22	2.1x	99.7x
Q3 22	2.2x	112.3x
Q4 22	2.3x	70.1x
Q1 23	2.2x	45.9x
Q2 23	2.1x	26.6x
Q3 23	2.1x	20.7x
Q4 23	2.5x	23.3x
Q1 24	2.4x	21.7x
Q2 24	2.6x	22.1x
Q3 24	3.0x	23.3x
Q4 24	3.2x	22.8x
Q1 25	3.7x	25.3x
Q2 25	3.2x	21.9x
Q3 25	3.1x	22.5x
Q4 25	2.6x	20.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$3.8B	-$2.4B
Q2 22	$4.2B	$521M
Q3 22	$4.4B	$397M
Q4 22	$4.3B	$941M
Q1 23	$4.1B	$977M
Q2 23	$4.4B	$1.5B
Q3 23	$5.3B	$2.8B
Q4 23	$4.9B	$2.5B
Q1 24	$5.1B	$2.4B
Q2 24	$5.5B	$3.3B
Q3 24	$6.1B	$1.8B
Q4 24	$5.5B	$2.5B
Q1 25	$6.8B	$4.4B
Q2 25	$7.0B	$4.6B
Q3 25	$7.5B	$4.8B
Q4 25	$6.7B	$4.2B

Capital Expenditures

Quarter	CapEx
Q1 22	$6.2B
Q2 22	$3.7B
Q3 22	$4.0B
Q4 22	$3.4B
Q1 23	$3.1B
Q2 23	$2.8B
Q3 23	$2.5B
Q4 23	$2.4B
Q1 24	$2.7B
Q2 24	$2.2B
Q3 24	$4.4B
Q4 24	$3.0B
Q1 25	$2.5B
Q2 25	$2.4B
Q3 25	$2.6B
Q4 25	$2.5B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+1.8%	+3.9%
Q2 22	-1.2%	+6.4%
Q3 22	-0.7%	+0.9%
Q4 22	-2.5%	-11.1%
Q1 23	-2.4%	-11.4%
Q2 23	-2.6%	-18.9%
Q3 23	-1.2%	-14.0%
Q4 23	+1.0%	-3.0%
Q1 24	-0.2%	-3.9%
Q2 24	+3.0%	-1.7%
Q3 24	+4.7%	-1.9%
Q4 24	+6.8%	+1.7%
Q1 25	+6.6%	+3.1%
Q2 25	+6.9%	+5.1%
Q3 25	+8.9%	+11.3%
Q4 25	+11.3%	+18.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$141M	0.7%
Q2 22	$154M	0.8%
Q3 22	$150M	0.8%
Q4 22	$150M	0.7%
Q1 23	$177M	0.9%
Q2 23	$167M	0.9%
Q3 23	$156M	0.8%
Q4 23	$167M	0.8%
Q1 24	$140M	0.7%
Q2 24	$164M	0.8%
Q3 24	$170M	0.8%
Q4 24	$175M	0.8%
Q1 25	$186M	0.9%
Q2 25	$200M	0.9%
Q3 25	$227M	1.0%
Q4 25	$216M	0.9%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	—	—	—	$5.1B
Q2 22	—	—	—	$5.9B
Q3 22	—	—	—	$5.1B
Q4 22	—	—	—	$5.6B
Q1 23	—	—	—	$5.4B
Q2 23	—	—	—	$5.3B
Q3 23	—	—	—	$5.3B
Q4 23	—	—	—	$5.3B
Q1 24	—	—	—	$5.1B
Q2 24	—	—	—	$5.1B
Q3 24	—	—	—	$5.2B
Q4 24	—	—	—	$5.4B
Q1 25	—	—	—	$5.5B
Q2 25	—	$4.5B	$864M	—
Q3 25	—	—	—	$6.0B
Q4 25	$278M	$5.1B	$1.1B	—

Revenue Segments

Quarter	Branded Postpaid Revenue	Branded Prepaid Revenue	Product and Service, Other	Product, Equipment	Wholesale Service Revenue
Q1 22	$11.2B	$2.5B	$298M	$4.7B	$1.5B
Q2 22	$11.4B	$2.5B	$255M	$4.1B	$1.4B
Q3 22	$11.5B	$2.5B	$261M	$3.9B	$1.3B
Q4 22	$11.7B	$2.4B	$304M	$4.5B	$1.3B
Q1 23	$11.9B	$2.4B	$367M	$3.7B	$1.3B
Q2 23	$12.1B	$2.4B	$289M	$3.2B	$1.2B
Q3 23	$12.3B	$2.5B	$262M	$3.1B	$1.2B
Q4 23	$12.5B	$2.4B	$261M	$4.2B	$1.1B
Q1 24	$12.6B	$2.4B	$247M	$3.3B	$1.1B
Q2 24	$12.9B	$2.6B	$237M	$3.1B	$938M
Q3 24	$13.3B	$2.7B	$230M	$3.2B	$701M
Q4 24	$13.5B	$2.7B	$245M	$4.7B	$738M
Q1 25	$13.6B	$2.6B	$257M	$3.7B	$688M
Q2 25	$14.1B	$2.6B	$255M	$3.4B	$717M
Q3 25	$14.9B	$2.6B	$251M	$3.5B	$734M
Q4 25	$15.4B	$2.6B	$268M	$5.4B	$738M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$3.2B	$0	$3.2B
Q2 22	$3.2B	$0	$3.2B
Q3 22	$6.9B	$0	$6.9B
Q4 22	$4.5B	$0	$4.5B
Q1 23	$4.5B	$0	$4.5B
Q2 23	$6.6B	$0	$6.6B
Q3 23	$5.0B	$0	$5.0B
Q4 23	$5.1B	$0	$5.1B
Q1 24	$6.7B	$0	$6.7B
Q2 24	$6.4B	$0	$6.4B
Q3 24	$9.8B	$0	$9.8B
Q4 24	$5.4B	$0	$5.4B
Q1 25	$12.0B	$0	$12.0B
Q2 25	$10.3B	$0	$10.3B
Q3 25	$3.3B	$0	$3.3B
Q4 25	$5.6B	$0	$5.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	1.26B	+0.1%	+0.2%
Q2 22	1.25B	-0.1%	+0.0%
Q3 22	1.26B	+0.4%	+0.4%
Q4 22	1.25B	-1.0%	-0.6%
Q1 23	1.22B	-1.8%	-2.5%
Q2 23	1.20B	-2.4%	-4.7%
Q3 23	1.17B	-1.8%	-6.7%
Q4 23	1.21B	+2.6%	-3.4%
Q1 24	1.19B	-1.3%	-2.9%
Q2 24	1.17B	-1.4%	-1.9%
Q3 24	1.17B	-0.2%	-0.3%
Q4 24	1.17B	+0.2%	-2.6%
Q1 25	1.14B	-2.4%	-3.7%
Q2 25	1.13B	-0.9%	-3.2%
Q3 25	1.13B	-0.7%	-3.8%
Q4 25	1.12B	-0.8%	-4.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$268.3K	75K
Q2 22	$262.7K	75K
Q3 22	$259.7K	75K
Q4 22	$285.5K	71K
Q1 23	$276.5K	71K
Q2 23	$270.4K	71K
Q3 23	$271.2K	71K
Q4 23	$305.6K	67K
Q1 24	$292.4K	67K
Q2 24	$295.1K	67K
Q3 24	$300.9K	67K
Q4 24	$312.5K	70K
Q1 25	$298.4K	70K
Q2 25	$301.9K	70K
Q3 25	$313.7K	70K
Q4 25	$324.5K	75K

Revenue / Employee