T-Mobile US (TMUS)
Market Price (10/13/2025): $230.98 | Market Cap: $261.6 BilSector: Communication Services | Industry: Wireless Telecommunication Services
T-Mobile US (TMUS)
Market Price (10/13/2025): $230.98Market Cap: $261.6 BilSector: Communication ServicesIndustry: Wireless Telecommunication Services
Investment Highlights
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2% | Weak multi-year price returns3Y Excs Rtn is -6.3% | |
Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23% | ||
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%, CFO LTM is 26 Bil, FCF LTM is 12 Bil | ||
Low stock price volatilityVol 12M is 28% |
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2% |
Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23% |
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%, CFO LTM is 26 Bil, FCF LTM is 12 Bil |
Low stock price volatilityVol 12M is 28% |
Weak multi-year price returns3Y Excs Rtn is -6.3% |
Market Valuation & Key Metrics
TMUS Stock
Price Returns Compared
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
---|---|---|---|---|---|---|---|
Returns | |||||||
TMUS Return | 74% | -14% | 21% | 15% | 40% | 5% | 204% |
Peers Return | 15% | 17% | -18% | -11% | 47% | 49% | 116% |
S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 11% | 103% |
Monthly Win Rates [3] | |||||||
TMUS Win Rate | 75% | 42% | 58% | 58% | 83% | 44% | |
Peers Win Rate | 47% | 52% | 40% | 48% | 57% | 56% | |
S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 67% | |
Max Drawdowns [4] | |||||||
TMUS Max Drawdown | -5% | -21% | -12% | -10% | 0% | -4% | |
Peers Max Drawdown | -39% | -7% | -33% | -33% | -25% | -23% | |
S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: CMCSA, LUMN, TMUS, SATS, GOGO. See TMUS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/10/2025 (YTD)
Downturns Compared
Event | TMUS | S&P 500 |
---|---|---|
2022 Inflation Shock | ||
% Loss | -32.0% | -25.4% |
% Gain to Breakeven | 47.0% | 34.1% |
Time to Breakeven | 280 days | 464 days |
2020 Covid Pandemic | ||
% Loss | -26.0% | -33.9% |
% Gain to Breakeven | 35.2% | 51.3% |
Time to Breakeven | 61 days | 148 days |
2018 Correction | ||
% Loss | -19.0% | -19.8% |
% Gain to Breakeven | 23.4% | 24.7% |
Time to Breakeven | 310 days | 120 days |
2008 Global Financial Crisis | ||
% Loss | -85.5% | -56.8% |
% Gain to Breakeven | 589.4% | 131.3% |
Time to Breakeven | 3545 days | 1480 days |
How Low Can It Go?
T-Mobile US's stock fell -32.0% during the 2022 Inflation Shock from a high on 7/16/2021. A -32.0% loss requires a 47.0% gain to breakeven.
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About T-Mobile US (TMUS)
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 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.
Latest Trefis Analyses
Trade Ideas
Select past trade ideas related to TMUS and Wireless Telecommunication Services.
Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
---|---|---|---|---|---|---|---|
09302025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 6.8% | 6.8% | 0.0% |
07312025 | CMCSA | Comcast | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -10.4% | -10.4% | -10.4% |
05312025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -2.3% | -2.3% | -2.3% | |
04302025 | IRDM | Iridium Communications | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -22.8% | -22.8% | -27.4% |
04302025 | IAS | Integral Ad Science | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 44.0% | 44.0% | 0.0% |
03312020 | TMUS | T-Mobile US | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 37.1% | 51.3% | -2.3% |
Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
---|---|---|---|---|---|---|---|
09302025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 6.8% | 6.8% | 0.0% |
07312025 | CMCSA | Comcast | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -10.4% | -10.4% | -10.4% |
05312025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -2.3% | -2.3% | -2.3% | |
04302025 | IRDM | Iridium Communications | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -22.8% | -22.8% | -27.4% |
04302025 | IAS | Integral Ad Science | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 44.0% | 44.0% | 0.0% |
03312020 | TMUS | T-Mobile US | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 37.1% | 51.3% | -2.3% |
See Trefis Trade Ideas for more.
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Peer Comparisons for T-Mobile US
Financials
Median | |
---|---|
Name | |
Mkt Price | 29.46 |
Mkt Cap | 21.3 |
Rev LTM | 15,453 |
Op Inc LTM | 412 |
FCF LTM | 938 |
FCF 3Y Avg | 144 |
CFO LTM | 4,385 |
CFO 3Y Avg | 3,374 |
Growth & Margins
Median | |
---|---|
Name | |
Rev Chg LTM | 1.3% |
Rev Chg 3Y Avg | 0.9% |
Rev Chg Q | -0.6% |
QoQ Delta Rev Chg LTM | -0.1% |
Op Mgn LTM | 9.5% |
Op Mgn 3Y Avg | 19.0% |
QoQ Delta Op Mgn LTM | -0.1% |
CFO/Rev LTM | 22.8% |
CFO/Rev 3Y Avg | 22.9% |
FCF/Rev LTM | 7.3% |
FCF/Rev 3Y Avg | 10.6% |
Valuation
Median | |
---|---|
Name | |
Mkt Cap | 21.3 |
P/S | 1.4 |
P/EBIT | 13.3 |
P/E | 7.1 |
P/CFO | 10.2 |
Total Yield | 0.6% |
Dividend Yield | 0.0% |
FCF Yield 3Y Avg | 3.3% |
D/E | 0.9 |
Net D/E | 0.8 |
Returns
Median | |
---|---|
Name | |
1M Rtn | -5.3% |
3M Rtn | 0.8% |
6M Rtn | 25.6% |
12M Rtn | 8.9% |
3Y Rtn | 7.2% |
1M Excs Rtn | -4.7% |
3M Excs Rtn | -3.9% |
6M Excs Rtn | 0.7% |
12M Excs Rtn | -4.0% |
3Y Excs Rtn | -67.7% |
Segment Financials
Revenue by Segment
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Postpaid revenues | 48,692 | 45,919 | 42,562 | 36,306 | 22,673 |
Equipment revenues | 14,138 | 17,130 | 20,727 | 17,312 | 9,840 |
Prepaid revenues | 9,767 | 9,857 | 9,733 | 9,421 | 9,543 |
Wholesale and other service revenues | 4,782 | 5,547 | 6,074 | ||
Other revenues | 1,179 | 1,118 | 1,022 | 690 | 658 |
Other service revenues | 2,078 | ||||
Wholesale revenues | 2,590 | 1,279 | |||
Roaming and other service revenues | 1,005 | ||||
Total | 78,558 | 79,571 | 80,118 | 68,397 | 44,998 |
Returns Analyses
Earnings Returns History
Expand for MoreForward Returns | |||
---|---|---|---|
Earnings Date | 1D Returns | 5D Returns | 21D Returns |
7/23/2025 | 5.8% | 3.3% | 10.4% |
4/24/2025 | -11.2% | -5.8% | -7.4% |
1/29/2025 | 6.3% | 7.3% | 19.5% |
10/23/2024 | 5.7% | 0.8% | 7.1% |
7/31/2024 | 3.9% | 8.3% | 14.9% |
4/25/2024 | -0.1% | 0.5% | 1.2% |
1/25/2024 | -0.2% | -0.0% | 0.8% |
10/25/2023 | -0.1% | 2.0% | 5.6% |
... | |||
SUMMARY STATS | |||
# Positive | 16 | 16 | 15 |
# Negative | 8 | 8 | 9 |
Median Positive | 5.3% | 6.5% | 8.5% |
Median Negative | -0.6% | -3.7% | -4.7% |
Max Positive | 10.2% | 16.9% | 19.5% |
Max Negative | -11.2% | -5.8% | -9.9% |
SEC Filings
Expand for MoreReport Date | Filing Date | Filing |
---|---|---|
6302025 | 7232025 | 10-Q 6/30/2025 |
3312025 | 4242025 | 10-Q 3/31/2025 |
12312024 | 1312025 | 10-K 12/31/2024 |
9302024 | 10232024 | 10-Q 9/30/2024 |
6302024 | 7312024 | 10-Q 6/30/2024 |
3312024 | 4262024 | 10-Q 3/31/2024 |
12312023 | 2022024 | 10-K 12/31/2023 |
9302023 | 10252023 | 10-Q 9/30/2023 |
6302023 | 7272023 | 10-Q 6/30/2023 |
3312023 | 4272023 | 10-Q 3/31/2023 |
12312022 | 2142023 | 10-K 12/31/2022 |
9302022 | 10272022 | 10-Q 9/30/2022 |
6302022 | 7292022 | 10-Q 6/30/2022 |
3312022 | 5062022 | 10-Q 3/31/2022 |
12312021 | 2112022 | 10-K 12/31/2021 |
9302021 | 11022021 | 10-Q 9/30/2021 |
Insider Activity
Expand for MoreOwner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
---|---|---|---|---|---|---|---|---|---|
0 | DEUTSCHE TELEKOM AG | 9242025 | Sell | 235.89 | 1,328 | 313,257 | 149,684,551,651 | Form | |
1 | DEUTSCHE TELEKOM AG | 9152025 | Sell | 240.44 | 28,862 | 6,939,455 | 152,673,241,368 | Form | |
2 | DEUTSCHE TELEKOM AG | 9102025 | Sell | 241.57 | 15,663 | 3,783,716 | 153,430,627,217 | Form | |
3 | DEUTSCHE TELEKOM AG | 9082025 | Sell | 251.47 | 14,466 | 3,637,755 | 159,770,853,282 | Form | |
4 | DEUTSCHE TELEKOM AG | 9042025 | Sell | 252.20 | 700 | 176,537 | 160,271,514,315 | Form |
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