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T-Mobile US, Inc., together with its subsidiaries, provides wireless communications services in the United States, Puerto Rico, and the United States Virgin Islands. The company offers voice, messaging, and data services to postpaid, prepaid, and wholesale and other services customers. It also provides wireless devices, including smartphones, wearables, tablets, home broadband gateways, headsets, and other mobile communication devices, as well as accessories; financing through equipment installment plans; reinsurance for device insurance policies and extended warranty contracts. The company offers services under the T-Mobile, Metro by T-Mobile, and Mint Mobile brands through its owned and operated retail stores, customer care channels, national retailers, and its websites, as well as through T-Mobile, Metro by T-Mobile, and Mint Mobile apps. It also sells devices to dealers and other third-party distributors for resale through independent third-party retail outlets and various third-party websites. The company was founded in 1994 and is headquartered in Bellevue, Washington. T-Mobile US, Inc. operates as a subsidiary of Deutsche Telekom AG.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $88.3B | $31.6B | $11.0B | $15.4B | 18.6% | 8.5% | -3.1% |
| 2024 | $81.4B | $31.0B | $11.3B | $10.0B | 18.4% | 3.6% | 36.3% |
| 2023 | $78.6B | $27.2B | $8.3B | $7.7B | 12.9% | -1.3% | 221.1% |
| 2022 | $79.6B | $20.2B | $2.6B | $-520M | 3.7% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 79,571 | 78,558 | 81,400 | 88,309 |
| Operating Revenue | - | 78,453 | 77,379 | 80,441 | 87,278 |
| Cost Of Revenue | - | 36,206 | 30,188 | 29,653 | 32,774 |
| Gross Profit | - | 43,365 | 48,370 | 51,747 | 55,535 |
| Operating Expense | - | 35,258 | 34,129 | 33,737 | 36,978 |
| Selling General And Administration | - | 21,607 | 21,311 | 20,818 | 23,470 |
| Total Expenses | - | 71,464 | 64,317 | 63,390 | 69,752 |
| Operating Income | - | 8,107 | 14,241 | 18,010 | 18,557 |
| Total Operating Income As Reported | - | 6,543 | 14,266 | 18,010 | 18,279 |
| EBITDA | - | 20,161 | 27,152 | 31,042 | 31,563 |
| Normalized EBITDA | - | 21,725 | 27,127 | 31,042 | 31,841 |
| EBIT | - | 6,510 | 14,334 | 18,123 | 18,055 |
| Interest Income | 20 | - | - | - | - |
| Interest Expense | - | 3,364 | 3,335 | 3,411 | 3,774 |
| Net Interest Income | - | -3,364 | -3,335 | -3,411 | -3,774 |
| Other Non Operating Income Expenses | - | -33 | 68 | 113 | -224 |
| Other Income Expense | - | -1,597 | 93 | 113 | -502 |
| Interest Income Non Operating | 20 | - | - | - | - |
| Interest Expense Non Operating | - | 3,364 | 3,335 | 3,411 | 3,774 |
| Net Non Operating Interest Income Expense | - | -3,364 | -3,335 | -3,411 | -3,774 |
| Pretax Income | - | 3,146 | 10,999 | 14,712 | 14,281 |
| Tax Provision | - | 556 | 2,682 | 3,373 | 3,289 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -276.83 | 6.10 | 0 | -63.94 |
| Net Income Continuous Operations | - | 2,590 | 8,317 | 11,339 | 10,992 |
| Net Income From Continuing And Discontinued Operation | - | 2,590 | 8,317 | 11,339 | 10,992 |
| Net Income From Continuing Operation Net Minority Interest | - | 2,590 | 8,317 | 11,339 | 10,992 |
| Net Income | - | 2,590 | 8,317 | 11,339 | 10,992 |
| Net Income Common Stockholders | - | 2,590 | 8,317 | 11,339 | 10,992 |
| Net Income Including Noncontrolling Interests | - | 2,590 | 8,317 | 11,339 | 10,992 |
| Normalized Income | - | 3,877.17 | 8,298.10 | 11,339 | 11,206.06 |
| Diluted NI Availto Com Stockholders | - | 2,590 | 8,317 | 11,339 | 10,992 |
| Basic Average Shares | - | 1,249.76 | 1,185.12 | 1,169.20 | 1,127.98 |
| Diluted Average Shares | - | 1,255.38 | 1,200.29 | 1,173.21 | 1,131.08 |
| Reconciled Depreciation | - | 13,651 | 12,818 | 12,919 | 13,508 |
| Reconciled Cost Of Revenue | - | 36,206 | 30,188 | 29,653 | 32,774 |
| Total Unusual Items | - | -1,564 | 25 | 0 | -278 |
| Total Unusual Items Excluding Goodwill | - | -1,564 | 25 | 0 | -278 |
| Net Income Discontinuous Operations | 0 | 0 | - | - | - |
| Special Income Charges | - | -1,564 | 25 | 0 | -278 |
| Gain On Sale Of Business | - | -1,087 | 25 | 0 | 0 |
| Write Off | 0 | 477 | - | - | - |
| Impairment Of Capital Assets | - | 477 | 0 | 0 | 278 |
| Depreciation Amortization Depletion Income Statement | - | 13,651 | 12,818 | 12,919 | 13,508 |
| Depreciation And Amortization In Income Statement | - | 13,651 | 12,818 | 12,919 | 13,508 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| T-Mobile US, Inc.this co. | TMUS | $191.6B | 17.43↑ premium | 3.24 | 18.6% | 9.77 |
| AppLovin Corporation | APP | $187.7B | 56.32 | 87.95 | 156.2% | 43.36 |
| Verizon Communications Inc. | VZ | $187.4B | 10.91 | 1.79 | 16.4% | 7.33 |
| The Walt Disney Company | DIS | $172.5B | 13.91 | 1.57 | 11.3% | 11.06 |
| AT&T Inc. | T | $158.2B |
| - |
| - |
| - |
| - |
| - |
| 7.21 |
| 1.43 |
| 19.9% |
| 5.39 |
| Comcast Corporation | CMCSA | $83.3B | 4.17 | 0.86 | 20.6% | 3.73 |
| Warner Bros. Discovery, Inc. | WBD | $67.7B | 93.11 | 1.88 | 2.0% | 4.50 |
| Electronic Arts Inc. | EA | $51.0B | 57.50 | 7.54 | 13.1% | 31.86 |
| Take-Two Interactive Software, Inc. | TTWO | $40.2B | -134.89 | 11.46 | -8.5% | 33.54 |
| Peer Median | - | 12.41 | 1.84 | 14.8% | 9.20 | |