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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 |
| 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 |
| Operating Income | - | 8,107 | 14,241 | 18,010 | 18,557 |
| EBITDA | - | 20,161 | 27,152 | 31,042 | 31,563 |
| EBIT | - | 6,510 | 14,334 | 18,123 | 18,055 |
| Pretax Income | - | 3,146 | 10,999 | 14,712 | 14,281 |
| Tax Provision | - | 556 | 2,682 | 3,373 | 3,289 |
| Net Income | - | 2,590 | 8,317 | 11,339 | 10,992 |
| Net Income Common Stockholders | - | 2,590 | 8,317 | 11,339 | 10,992 |
| Total Expenses | - | 71,464 | 64,317 | 63,390 | 69,752 |
| Interest Expense | - | 3,364 | 3,335 | 3,411 | 3,774 |
| Interest Income | 20 | - | - | - | - |
| Selling General And Administration | - | 21,607 | 21,311 | 20,818 | 23,470 |
| Normalized EBITDA | - | 21,725 | 27,127 | 31,042 | 31,841 |
| Normalized Income | - | 3,877.17 | 8,298.10 | 11,339 | 11,206.06 |
| Market Cap | 209,134 | 209,134 | 209,134 | 209,134 | 209,134 |
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 | $214.0B | 19.03↑ premium | 3.53 | 18.6% | 10.32 |
| Verizon Communications Inc. | VZ | $196.2B | 11.29 | 1.86 | 16.4% | 7.47 |
| AT&T Inc. | T | $189.1B | 8.33 | 1.65 | 19.9% | 5.85 |
| The Walt Disney Company | DIS | $185.0B | 14.65 | 1.65 | 11.3% | 11.54 |
| AppLovin Corporation | APP | $151.8B | 45.22 |
| - |
| - |
| - |
| - |
| - |
| 70.62 |
| 156.2% |
| 34.86 |
| Comcast Corporation | CMCSA | $99.2B | 4.92 | 1.02 | 20.6% | 4.05 |
| Warner Bros. Discovery, Inc. | WBD | $67.8B | 93.34 | 1.89 | 2.0% | 4.51 |
| Electronic Arts Inc. | EA | $53.1B | 45.24 | 7.94 | 17.6% | 25.03 |
| Fox Corporation | FOXA | $29.0B | 11.81 | 2.24 | 18.9% | 7.50 |
| Peer Median | - | 13.23 | 1.87 | 18.2% | 7.48 | |