T-Mobile US, Inc.
Financial Performance
T-Mobile Revenue & Financials
Revenue
$88.3B (FY2025)
Market Cap
$178.6B
Net Income
$11B
Employees
75,000
What is T-Mobile's revenue?
T-Mobile had $88.3B in revenue for fiscal year 2025, up 8.5% from 2024. Net income was $11B.
- Latest revenue
- $88.3B (FY2025)
- Year-over-year
- +8.5%
- Growth rate (CAGR)
- 10% over 9 years
- Peak revenue
- $88.3B (FY2025)
- Years of data
- 10
- Employees
- 75,000
Financial Analysis
Revenue climbed from $68.4 billion in 2020, the year Sprint was absorbed, to $88.3 billion in 2025, while net income rose from $3.1 billion to $11.0 billion as merger synergies and network decommissioning costs rolled off. In Q2 2026 T-Mobile reported revenue of $22.79 billion (up about 8%), service revenue of $19.0 billion (up 9%), postpaid service revenue of $15.9 billion (up 13%), net income of $3.2 billion and adjusted free cash flow of $4.8 billion. Management raised 2026 adjusted free cash flow guidance to $18.4-$18.8 billion and kept Core Adjusted EBITDA guidance of $37.1-$37.5 billion with about $10 billion of capital spending. Cumulative shareholder returns under its program reached $54.6 billion through June 2026, and in September 2026 the board raised the quarterly dividend 15% to $1.17 per share. T-Mobile US has grown into a dominant force in the wireless sector, holding a market valuation generally exceeding $180 billion.
Revenue Trend Analysis
YoY Change
+8.5%
9-Year CAGR
+10%
Peak Year
2025
Trend
Consistent Growth
T-Mobile US, Inc. has 10 full fiscal year figures on this page, compounding at +10% annually over 9 years. The most recent year saw a 8.5% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $88.3B. Of 9 comparable year-over-year steps, 7 showed growth and 2 showed a decline.
Annual revenue history
Click any row to see year details.
T-Mobile US, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $27.9B | $10B | $219.2B | $59.2B | $18B | Form 10-K |
| FY2024ended Dec 31, 2024 | $22.3B | $8.8B | $208B | $61.7B | $13.5B | Form 10-K |
| FY2023ended Dec 31, 2023 | $18.6B | $9.8B | $207.7B | $64.7B | $8.8B | Form 10-K |
| FY2022ended Dec 31, 2022 | $16.8B | $14B | $211.3B | $69.7B | $2.8B | Form 10-K |
| FY2021ended Dec 31, 2021 | $13.9B | $12.3B | $206.6B | $69.1B | $1.6B | Form 10-K |
| FY2020ended Dec 31, 2020 | $8.6B | $11B | $200.2B | $65.3B | -$2.4B | Form 10-K |
| FY2019ended Dec 31, 2019 | $6.8B | $6.4B | $86.9B | $28.8B | $433M | Form 10-K |
| FY2018ended Dec 31, 2018 | $3.9B | $5.5B | $72.5B | $24.7B | -$1.6B | Form 10-K |
| FY2017ended Dec 31, 2017 | $3.8B | $5.2B | $70.6B | $22.6B | -$1.4B | Form 10-K |
| FY2016ended Dec 31, 2016 | $2.8B | $4.7B | $65.9B | $18.2B | -$1.9B | Form 10-K |
Keep researching T-Mobile
T-Mobile Revenue and Financial FAQ
What is T-Mobile US's market capitalization and where is it listed?
T-Mobile US is publicly traded on the NASDAQ under ticker symbol TMUS. It commands a market capitalization exceeding $260 billion USD, establishing it as the most valuable telecommunications carrier in the United States and the second-largest worldwide behind China Mobile.
What is T-Mobile's annual revenue and operating income?
T-Mobile generates annual total revenues exceeding $80 billion USD, with service revenues accounting for over $64 billion and core adjusted EBITDA exceeding $31 billion to $32 billion, delivering an industry-leading adjusted EBITDA margin near 40%.
What is T-Mobile's free cash flow generation capacity?
T-Mobile generates extraordinary free cash flow exceeding $13 billion to $15 billion annually, driven by the completion of capital-intensive 5G network integration post-Sprint and the decommissioning of redundant cell towers.
How did the Sprint merger deliver over $7.5 billion in annual cost synergies?
T-Mobile decommissioned 35,000 redundant Sprint cell sites, consolidated retail storefronts, unified billing IT systems, and migrated 60 million customers onto a single radio network, achieving over $7.5 billion in permanent annual run-rate operating cost synergies.
What is T-Mobile's capital return program regarding share buybacks and dividends?
T-Mobile executed a historic $60 billion multi-year capital return program, repurchasing tens of billions in common stock and initiating its first-ever quarterly cash dividend in late 2023, which it targets to grow by roughly 10% annually.
What percentage of T-Mobile US is owned by Deutsche Telekom?
Deutsche Telekom AG holds a controlling equity stake of slightly over 50% in T-Mobile US. T-Mobile US represents the crown jewel of Deutsche Telekom's global portfolio, generating over 60% of the parent company's consolidated EBITDA.
What is T-Mobile's debt profile and leverage ratio?
T-Mobile holds approximately $70 billion in net long-term debt, managing a conservative net debt-to-adjusted EBITDA leverage ratio of approximately 2.4x to 2.5x, well within its investment-grade rating targets (BBB/Baa2).
How many total wireless customers does T-Mobile US serve?
T-Mobile US serves over 125 million total wireless customer connections, including more than 75 million postpaid phone customers, 21 million prepaid subscribers, and over 6 million 5G Home Internet broadband customers.
What is T-Mobile's annual Capital Expenditure (CapEx) budget?
Following the peak build-out of its nationwide 5G network in 2021–2022, T-Mobile reduced its annual CapEx to a capital-efficient range between $8.5 billion and $9.5 billion, boosting free cash flow conversion.
How does T-Mobile consistently lead the industry in postpaid phone net additions?
T-Mobile regularly captures over 50% of the wireless industry's quarterly postpaid phone net additions (frequently adding 2.5M to 3.0M net phone accounts annually), continuously taking customer share from AT&T and Verizon.
What financial impact did the Mint Mobile and UScellular acquisitions have?
The Mint Mobile ($1.35B) and UScellular ($4.4B) transactions added millions of high-margin wireless subscribers and valuable low-band airwaves, funded entirely out of T-Mobile's ongoing free cash flow without straining balance sheet leverage.
How has TMUS stock performed compared to the broader telecom sector over the past decade?
TMUS has delivered massive outperformance, appreciating over 400% in a decade, while competitors AT&T and Verizon generated negative to flat share price returns over the same period due to heavy debt loads and sluggish subscriber growth.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "T-Mobile Revenue & Financials." CorpDigest, https://corpdigest.com/company/t-mobile/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>T-Mobile reported $88.3B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/t-mobile/financials" target="_blank" rel="noopener">CorpDigest — T-Mobile financials</a></div>Related Financial Audits
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