Tearsheet

T-Mobile US (TMUS)


Market Price (10/13/2025): $230.98 | Market Cap: $261.6 Bil
Sector: Communication Services | Industry: Wireless Telecommunication Services

T-Mobile US (TMUS)


Market Price (10/13/2025): $230.98
Market Cap: $261.6 Bil
Sector: Communication Services
Industry: Wireless Telecommunication Services

Investment Highlights

0 Attractive yield
Total 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 returns
3Y Excs Rtn is -6.3%
 
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23%
  
2 Attractive cash flow generation
CFO/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
  
3 Low stock price volatility
Vol 12M is 28%
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23%
2 Attractive cash flow generation
CFO/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
3 Low stock price volatility
Vol 12M is 28%
4 Weak multi-year price returns
3Y Excs Rtn is -6.3%

Market Valuation & Key Metrics

TMUS Stock


Price Returns Compared

 202020212022202320242025Total [1]
Returns
TMUS Return74%-14%21%15%40%5%204%
Peers Return15%17%-18%-11%47%49%116%
S&P 500 Return16%27%-19%24%23%11%103%

Monthly Win Rates [3]
TMUS Win Rate75%42%58%58%83%44% 
Peers Win Rate47%52%40%48%57%56% 
S&P 500 Win Rate58%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

Unique KeyEventTMUSS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-32.0%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven47.0%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven280 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-26.0%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven35.2%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven61 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-19.0%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven23.4%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven310 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-85.5%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven589.4%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven3545 days1480 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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Asset Allocation

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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.

Better Bets than T-Mobile US (TMUS)

Latest Trefis Analyses

Trade Ideas

Select past trade ideas related to TMUS and Wireless Telecommunication Services.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TTD_9302025_Dip_Buyer_High_CFO_Margins_ExInd_DE09302025TTDTrade DeskDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
6.8%6.8%0.0%
CMCSA_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025CMCSAComcastMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-10.4%-10.4%-10.4%
PINS_5312025_Monopoly_xInd_xCD_Getting_Cheaper05312025PINSPinterestMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-2.3%-2.3%-2.3%
IRDM_4302025_Dip_Buyer_FCFYield04302025IRDMIridium CommunicationsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-22.8%-22.8%-27.4%
IAS_4302025_Dip_Buyer_High_CFO_Margins_ExInd_DE04302025IASIntegral Ad ScienceDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
44.0%44.0%0.0%
TMUS_3312020_Quality_Momentum_RoomToRun_10%03312020TMUST-Mobile USQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
37.1%51.3%-2.3%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TTD_9302025_Dip_Buyer_High_CFO_Margins_ExInd_DE09302025TTDTrade DeskDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
6.8%6.8%0.0%
CMCSA_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025CMCSAComcastMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-10.4%-10.4%-10.4%
PINS_5312025_Monopoly_xInd_xCD_Getting_Cheaper05312025PINSPinterestMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-2.3%-2.3%-2.3%
IRDM_4302025_Dip_Buyer_FCFYield04302025IRDMIridium CommunicationsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-22.8%-22.8%-27.4%
IAS_4302025_Dip_Buyer_High_CFO_Margins_ExInd_DE04302025IASIntegral Ad ScienceDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
44.0%44.0%0.0%
TMUS_3312020_Quality_Momentum_RoomToRun_10%03312020TMUST-Mobile USQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
37.1%51.3%-2.3%

See Trefis Trade Ideas for more.

Recent Active Movers

Recent Active Movers

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Peer Comparisons for T-Mobile US

Financials

TMUSCMCSALUMNSATSGOGOMedian
NameT-Mobile.Comcast Lumen Te.EchoStar Gogo  
Mkt Price228.7929.466.5874.008.8929.46
Mkt Cap259.2111.06.521.31.221.3
Rev LTM84,052123,55912,82415,45369515,453
Op Inc LTM19,39523,147412-52566412
FCF LTM12,33813,424938-1,73728938
FCF 3Y Avg9,04812,937144-3,88752144
CFO LTM25,52728,1194,385536564,385
CFO 3Y Avg21,13927,8753,3742,423833,374

Growth & Margins

TMUSCMCSALUMNSATSGOGOMedian
NameT-Mobile.Comcast Lumen Te.EchoStar Gogo  
Rev Chg LTM6.3%1.3%-6.5%-4.8%72.7%1.3%
Rev Chg 3Y Avg1.6%0.9%-12.2%-3.4%27.3%0.9%
Rev Chg Q6.9%-0.6%-5.4%-5.8%121.5%-0.6%
QoQ Delta Rev Chg LTM1.6%-0.1%-1.4%-1.5%21.7%-0.1%
Op Mgn LTM23.1%18.7%3.2%-3.4%9.5%9.5%
Op Mgn 3Y Avg19.5%19.0%7.1%1.9%24.0%19.0%
QoQ Delta Op Mgn LTM0.3%-0.1%-0.8%-1.0%0.4%-0.1%
CFO/Rev LTM30.4%22.8%34.2%3.5%8.1%22.8%
CFO/Rev 3Y Avg26.1%22.9%24.6%11.1%18.4%22.9%
FCF/Rev LTM14.7%10.9%7.3%-11.2%4.0%7.3%
FCF/Rev 3Y Avg11.1%10.6%1.4%-17.5%11.8%10.6%

Valuation

TMUSCMCSALUMNSATSGOGOMedian
NameT-Mobile.Comcast Lumen Te.EchoStar Gogo  
Mkt Cap259.2111.06.521.31.221.3
P/S3.10.90.51.41.71.4
P/EBIT13.35.0-22.445.715.313.3
P/E21.27.1-5.6-67.5163.57.1
P/CFO10.23.91.539.721.210.2
Total Yield6.2%18.5%-18.0%-1.5%0.6%0.6%
Dividend Yield1.5%4.4%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg4.1%8.5%1.9%-77.4%3.3%3.3%
D/E0.50.92.81.40.80.9
Net D/E0.40.82.51.20.70.8

Returns

TMUSCMCSALUMNSATSGOGOMedian
NameT-Mobile.Comcast Lumen Te.EchoStar Gogo  
1M Rtn-5.3%-9.9%8.8%-1.2%-9.2%-5.3%
3M Rtn0.8%-14.9%47.2%139.8%-42.3%0.8%
6M Rtn-10.9%-10.9%90.2%229.2%25.6%25.6%
12M Rtn8.9%-25.9%6.1%196.6%35.5%8.9%
3Y Rtn77.1%7.2%-3.8%306.6%-27.1%7.2%
1M Excs Rtn-4.7%-10.3%8.6%-3.4%-13.7%-4.7%
3M Excs Rtn-3.9%-21.0%38.5%142.9%-47.4%-3.9%
6M Excs Rtn-34.4%-35.2%61.5%210.5%0.7%0.7%
12M Excs Rtn-4.0%-39.3%-11.6%177.5%24.5%-4.0%
3Y Excs Rtn-6.3%-67.7%-82.8%269.4%-104.3%-67.7%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Postpaid revenues48,69245,91942,56236,30622,673
Equipment revenues14,13817,13020,72717,3129,840
Prepaid revenues9,7679,8579,7339,4219,543
Wholesale and other service revenues4,7825,5476,074  
Other revenues1,1791,1181,022690658
Other service revenues   2,078 
Wholesale revenues   2,5901,279
Roaming and other service revenues    1,005
Total78,55879,57180,11868,39744,998


Price Behavior

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity13,289,035
Short Interest: % Change Since 91520256.1%
Average Daily Volume4,131,692
Days-to-Cover Short Interest3.22
Basic Shares Quantity1,132,760,465
Short % of Basic Shares1.2%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/23/20255.8%3.3%10.4%
4/24/2025-11.2%-5.8%-7.4%
1/29/20256.3%7.3%19.5%
10/23/20245.7%0.8%7.1%
7/31/20243.9%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   
# Positive161615
# Negative889
Median Positive5.3%6.5%8.5%
Median Negative-0.6%-3.7%-4.7%
Max Positive10.2%16.9%19.5%
Max Negative-11.2%-5.8%-9.9%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025723202510-Q 6/30/2025
3312025424202510-Q 3/31/2025
12312024131202510-K 12/31/2024
93020241023202410-Q 9/30/2024
6302024731202410-Q 6/30/2024
3312024426202410-Q 3/31/2024
12312023202202410-K 12/31/2023
93020231025202310-Q 9/30/2023
6302023727202310-Q 6/30/2023
3312023427202310-Q 3/31/2023
12312022214202310-K 12/31/2022
93020221027202210-Q 9/30/2022
6302022729202210-Q 6/30/2022
3312022506202210-Q 3/31/2022
12312021211202210-K 12/31/2021
93020211102202110-Q 9/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0DEUTSCHE TELEKOM AG 9242025Sell235.891,328313,257149,684,551,651Form
1DEUTSCHE TELEKOM AG 9152025Sell240.4428,8626,939,455152,673,241,368Form
2DEUTSCHE TELEKOM AG 9102025Sell241.5715,6633,783,716153,430,627,217Form
3DEUTSCHE TELEKOM AG 9082025Sell251.4714,4663,637,755159,770,853,282Form
4DEUTSCHE TELEKOM AG 9042025Sell252.20700176,537160,271,514,315Form