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Communication Services · NASDAQ: TMUS

T-Mobile: how the business works

T-Mobile US sells wireless plans, home internet and phones to US households and businesses, with revenue of $88.3 billion and net income of $11.0 billion in FY2025.

By · Checked against filings: . Editorial policy. Corrections

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T-Mobile US, Inc. · Bellevue, Washington, and Overland Park, Kansas

Updated for Q3 FY2026 · checked

Revenue, FY2025
$88.3B
Net income, FY2025
$11.0B
Postpaid and prepaid customers, Dec 31, 2025
142.4 million
Deutsche Telekom's stake, Oct 2026
55.9%
Employees, Dec 31, 2025
About 75,000

For learning only. Cityfort is not a registered investment adviser or broker-dealer and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

The short version

T-Mobile in 5 points

  1. 1 · What it sells

    T-Mobile sells monthly phone and home internet plans, plus the phones that use them, under the T-Mobile, Metro by T-Mobile and Mint Mobile brands, with $88.3 billion of revenue in FY2025.

    More: what it sells

  2. 2 · Who pays it

    In FY2025, postpaid customers' service bills were 65.6% of T-Mobile's revenue, phone and device sales 18.1%, prepaid customers 11.9%, and wholesale partners and other revenue 4.4%.

    More: who pays it

  3. 3 · What it keeps from $100

    Of every $100 that came in during FY2025, T-Mobile kept $12.45 as net income, with no large one-off gains, and its operating income was $20.70 per $100 of revenue.

    More: what it keeps from $100

  4. 4 · Where the operating profit comes from

    T-Mobile reports one operating segment, and in FY2025 its service revenue of $71,306 million cost $11,497 million to deliver directly, while devices that sold for $15,972 million cost $21,277 million.

    More: where the operating profit comes from

  5. 5 · The one thing to watch

    Postpaid account churn was 1.09% a month in Q3 FY2026, against 0.97% in Q3 FY2025, while revenue per account rose to $155.73 from $149.44.

    More: the one thing to watch

Sources: From T-Mobile's FY2025 10-K and Q3 FY2026 investor factbook · checked

See the full receipt and the management scorecard below

Sources (2)
Next: Where $100 goes

01Where the money goes · FY2025

Where does $100 of T-Mobile's money go?

Of every $100 that came in (revenue plus other income), this is where it went.

T-Mobile · FY2025

Receipt for every $100

Where $100 of T-Mobile's money went in FY2025
Selling, general and admin$26.6
Cost of equipment sales$24.1
Depreciation, amortization and impairment$15.6
Cost of services$13.0
Interest and other expense, net$4.5
Income tax$3.7
Kept as net income$12.4
Total$100

Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.

How this is worked out

Of every $100 that came in during FY2025 (revenue of $88,309 million; other items were a net expense of $224 million, counted with interest). Cityfort calculation from FY2025 10-K. Operating income was $20.70 per $100 of revenue. Depreciation includes a $278 million impairment.

Sources (1)
Next: The business in one line

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02The business in one line

What does T-Mobile do?

Households and businesses pay T-Mobile every month for wireless and internet service; most of the money goes on selling and admin, phones and the network, and what is left is profit.

  • Postpaid customers' service bills brought in 65.6% of FY2025 revenue. Phone and device sales brought in 18.1% and prepaid plans 11.9%.
  • T-Mobile kept $12.45 of every $100 that came in during FY2025. Net income was $11.0 billion, against $11.3 billion in FY2024.
Next: Who pays it

03Who pays it

Who pays T-Mobile?

  • Postpaid customers (service)

    66%

    of revenue

    Households and businesses that pay a monthly bill after service. Postpaid revenue was $57,932 million in FY2025, 81% of service revenue.

  • Phone and device buyers (equipment)

    18%

    of revenue

    Mostly the same customers, buying phones and other devices, often in installments. Equipment revenue was $15,972 million in FY2025.

  • Prepaid customers (service)

    12%

    of revenue

    People who pay in advance, under the T-Mobile, Metro by T-Mobile, Mint Mobile and Ultra Mobile brands. Prepaid revenue was $10,497 million in FY2025, 15% of service revenue.

  • Wholesale partners and other

    4%

    of revenue

    Partners that resell access to T-Mobile's network, plus other revenues. Wholesale and other service revenue was $2,877 million and other revenues $1,031 million in FY2025.

  • Postpaid customers (service)66%
  • Phone and device buyers (equipment)18%
  • Prepaid customers (service)12%
  • Wholesale partners and other4%

How spread out the customers are

T-Mobile does not report revenue by customer, and its 10-K names no single large customer. Postpaid includes business customers, but T-Mobile gives no business share. Shares are of FY2025 revenue of $88,309 million (Cityfort calculation from FY2025 10-K).

Sources (1)
Next: Why it makes money

04Why it makes money

Why does T-Mobile make money?

T-Mobile earns its profit from monthly service bills that cost far less to deliver than they bring in, while it sells phones below their cost.

Service revenue was $71,306 million in FY2025, against $11,497 million of direct service costs. Phones and devices brought in $15,972 million and cost $21,277 million. Selling and admin took $23,470 million, and capital spending $9,955 million.

Operating income per $100 of revenue

$8.6$20.7

FY2021 to FY2025

  1. T-Mobile pays for spectrum and builds its 5G network.
  2. Customers sign up for phone and home internet plans, often with a new phone.
  3. They pay a bill each month for as long as they stay.
  4. Those bills cover the network, phones, selling costs and staff.
  5. What is left pays interest, dividends, buybacks and more network.

↺ Step 5 feeds back into step 1.

Sources (2)
Next: Business segments

05Business segments · FY2025

Which businesses make up T-Mobile?

  • Postpaid

    66%

    T-Mobile reports one operating segment, Wireless, so these are its revenue lines, with no profit by line. Postpaid service revenue rose from $42,562 million in FY2021 to $57,932 million in FY2025.

    Revenue $57.9B

  • Equipment

    18%

    Phones and devices. Equipment revenue fell from $20,727 million in FY2021 to $14,138 million in FY2023, and was $15,972 million in FY2025. Device lease revenue in this line fell from $3,348 million in FY2021 to $13 million in FY2025.

    Revenue $16.0B

  • Prepaid

    12%

    Pay-in-advance plans, including Mint Mobile, bought on May 1, 2024. Prepaid revenue was $9,733 million in FY2021.

    Revenue $10.5B

  • Wholesale and other

    4%

    Wholesale and other service revenues plus other revenues. They fell from $7,096 million in FY2021, partly because Mint Mobile moved from wholesale partner to owned brand in 2024.

    Revenue $3.9B

How the mix changed

  • Postpaid
  • Equipment
  • Prepaid
  • Wholesale and other

Revenue by segment, FY2021 to FY2025.

US$

See the numbers
How the mix changed (US$)
YearPostpaidEquipmentPrepaidWholesale and other
FY2021$42.6B$20.7B$9.7B$7.1B
FY2022$45.9B$17.1B$9.9B$6.7B
FY2023$48.7B$14.1B$9.8B$6.0B
FY2024$52.3B$14.3B$10.4B$4.4B
FY2025$57.9B$16.0B$10.5B$3.9B
Sources (4)
Next: How has it done

06The numbers · Consolidated · US$

How has T-Mobile done?

Revenue

$88.3BFY2025

Revenue fell in FY2022 and FY2023 as equipment sales dropped, then reached $88.3 billion in FY2025, which includes acquisitions such as UScellular.

US$

See the numbers
Revenue (US$)
PeriodRevenue (US$)
FY2021$80.1B
FY2022$79.6B
FY2023$78.6B
FY2024$81.4B
FY2025$88.3B
Q4 FY2024$21.9B
Q1 FY2025$20.9B
Q2 FY2025$21.1B
Q3 FY2025$22.0B
Q4 FY2025$24.3B
Q1 FY2026$23.1B
Q2 FY2026$22.8B
Q3 FY2026$23.6B

Net profit

$11.0BFY2025

Net income rose from $2.6 billion in FY2022, a year of Sprint merger costs, to $11.3 billion in FY2024, and was $11.0 billion in FY2025.

US$

See the numbers
Net profit (US$)
PeriodNet profit (US$)EPS ($)
FY2021$3.0B$2.41
FY2022$2.6B$2.06
FY2023$8.3B$6.93
FY2024$11.3B$9.66
FY2025$11.0B$9.72
Q4 FY2024$3.0B$2.57
Q1 FY2025$3.0B$2.58
Q2 FY2025$3.2B$2.84
Q3 FY2025$2.7B$2.41
Q4 FY2025$2.1B$1.88
Q1 FY2026$2.5B$2.27
Q2 FY2026$3.2B$2.99
Q3 FY2026$3.5B$3.22

Profit kept per $100 of revenue

$12.4FY2025

T-Mobile kept $12.45 of net income per $100 of revenue in FY2025, against $3.77 in FY2021.

$ of profit per $100 of revenue (net margin)

See the numbers
Profit kept per $100 of revenue ($ of profit per $100 of revenue (net margin))
YearNet marginEBITDA margin
FY20213.8%29.1%
FY20223.3%25.4%
FY202310.6%34.5%
FY202413.9%38.0%
FY202512.4%36.0%

Free cash flow

$18.0BFY2025

Free cash flow (cash from operations minus capital spending) rose from $1.6 billion in FY2021 to $18.0 billion in FY2025; before November 2024, some cash from selling receivables counted as investing cash, not operating cash.

US$ · cash from operations minus spending on plants and equipment

See the numbers
Free cash flow (US$ · cash from operations minus spending on plants and equipment)
YearCash from operationsCapital spendingFree cash flow
FY2021$13.9B$12.3B$1.6B
FY2022$16.8B$14.0B$2.8B
FY2023$18.6B$9.8B$8.8B
FY2024$22.3B$8.8B$13.5B
FY2025$28.0B$10.0B$18.0B
See all yearly numbers
T-Mobile annual financials, FY2021–FY2025, US$
YearRevenueEBITDANet profitEPS ($)Operating cashCapexFree cash
FY2021$80.1B$23.3B$3.0B$2.41$13.9B$12.3B$1.6B
FY2022$79.6B$20.2B$2.6B$2.06$16.8B$14.0B$2.8B
FY2023$78.6B$27.1B$8.3B$6.93$18.6B$9.8B$8.8B
FY2024$81.4B$30.9B$11.3B$9.66$22.3B$8.8B$13.5B
FY2025$88.3B$31.8B$11.0B$9.72$28.0B$10.0B$18.0B

EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (Fiscal year ends on December 31 (the calendar year)). Net profit is the share belonging to the company's owners.

Download T-Mobile's yearly and quarterly numbers (CSV, with source ids)

Learn: Stock-based compensation and dilution: pay that becomes shares

Sources (17)
Next: What they said, and what happened

07Who runs it

Who runs T-Mobile, and did they deliver?

  • Srini Gopalan

    Chief Executive Officer · since 2025

    CEO since Nov 1, 2025, succeeding G. Michael Sievert. The proxy's pay ratio of 499 to 1 uses annualized CEO pay of $37,993,644.

  • Timotheus Höttges

    Chairman of the Board

    Deutsche Telekom's Chief Executive Officer. T-Mobile separates the Chairman and CEO roles.

  • Peter Osvaldik

    Chief Financial Officer

    To retire in February 2027, T-Mobile said on Sep 3, 2026.

  • Jessica Uhl

    CFO Designate · since 2026

    Former CFO of Shell plc, named on Sep 3, 2026 to succeed Peter Osvaldik.

  • Jonathan Freier

    Chief Operating Officer · since 2025

    Appointed in December 2025.

What they said, and what happened

3 delivered · 1 partly delivered · 3 too early to tell

  1. Said on Jan 29, 2025

    FY2025 postpaid net customer additions of 5.5 million to 6.0 million, before the pending acquisitions.

    What happened

    Postpaid net customer additions were 7,798 thousand. Reported figures include acquisitions such as UScellular, which the guidance left out.

    Delivered

  2. Said on Jan 29, 2025

    FY2025 Adjusted Free Cash FlowCash from operations minus spending on buildings and equipment. Learn more (its own measure) of $17.3 billion to $18.0 billion.

    What happened

    Adjusted Free Cash Flow was $17,995 million, from cash from operations of $27,950 million. Reported figures include the acquisitions.

    Delivered

  3. Said on Jan 29, 2025

    FY2025 Core Adjusted EBITDAOperating profit before wear-and-tear charges (depreciation and amortization). As a margin: per $100 of sales. (its own measure) of $33.1 billion to $33.6 billion.

    What happened

    Core Adjusted EBITDA was $33,924 million, above the range, including the acquisitions. Net income was $10,992 million.

    Delivered

  4. Said on Jan 29, 2025

    FY2025 capital spending of about $9.5 billion, before the pending acquisitions.

    What happened

    Capital spending was $9,955 million, about $0.5 billion above the figure. Reported spending includes the acquired businesses, which the guidance left out.

    Partly delivered

  5. Said on Feb 11, 2026

    2026 postpaid net account additions of 900,000 to 1.0 million.

    What happened

    T-Mobile said about 1.0 million on Oct 28, 2026. Net account additions were 768,000 in the first nine months.

    Too early to tell

  6. Said on Feb 11, 2026

    2026 Adjusted Free Cash Flow (its own measure) of $18.0 billion to $18.7 billion.

    What happened

    T-Mobile raised the range to $18.7 billion to $18.8 billion on Oct 28, 2026. It was $14,467 million in the first nine months, from cash from operations of $22,063 million.

    Too early to tell

  7. Said on Dec 11, 2025

    A 2026 shareholder return program of up to $14.6 billion of buybacks and dividends.

    What happened

    T-Mobile raised it to up to $18.2 billion on Apr 23, 2026. In the first nine months it bought back $9,472 million of shares and paid $3,310 million of dividends.

    Too early to tell
Sources (12)
Next: What could go wrong

08What could go wrong

What could go wrong for T-Mobile?

  • Debt

    Debt

    Total debt excluding tower obligations was $85,960 million on Sep 30, 2026, up from $80,591 million on Dec 31, 2024. Operating lease liabilities of $28,661 million come on top. Interest expense was $3,774 million in FY2025.

    Watch T-Mobile's own net debt ratio, 2.2 times Core Adjusted EBITDA on Sep 30, 2026, and net debt to net income of 7.1 times.

  • Competition

    Competition for wireless and home internet customers

    T-Mobile's 10-K names AT&T, Verizon, cable companies such as Comcast and Charter, and EchoStar as rivals. It lists promotions, pricing and market saturation among the competitive factors.

    Watch Postpaid account churn (1.09% a month in Q3 FY2026) and net account additions (274,000).

  • Governance

    Control by Deutsche Telekom

    Deutsche Telekom held 55.9% of the shares in October 2026 and can name up to 10 board nominees. Other holders cannot outvote it, and T-Mobile uses Nasdaq's controlled-company exemptions.

    Watch Amendments to Deutsche Telekom's Schedule 13D, and changes to the Stockholders' Agreement.

  • Technology

    Cyberattacks

    Attacks in August 2021 and January 2023 led to lawsuits, settlements and regulatory inquiries; the second affected about 37 million accounts. T-Mobile says further losses from the 2021 matter are reasonably possible.

    Watch Note 14 on legal matters in each 10-Q and 10-K, and any new security disclosures.

  • Legal

    Antitrust class action over the Sprint merger

    The Dale class action, filed in 2022, alleges that the Sprint merger violated antitrust laws and raised prices for AT&T and Verizon customers. It seeks trebled damages. T-Mobile says it is defending the case and cannot predict the outcome.

    Watch Court rulings in Dale v. Deutsche Telekom AG, reported in Note 14 of each 10-Q and 10-K.

  • Execution

    Acquisition costs and harder comparisons

    FY2025 revenue includes UScellular, Metronet, Lumos, Vistar and Blis. UScellular merger-related costs were $406 million in Q1 FY2026, and customer counts are no longer reported, so like-for-like growth is harder to see.

    Watch Merger-related costs ($129 million in Q3 FY2026) and net account additions.

  • Other

    Unpaid device and service bills

    Many customers pay for phones in installments. Bad debt and losses on sold receivables were 1.9% of revenue in Q3 FY2026, against 1.6% in Q3 FY2025.

    Watch Bad debt and losses on receivable sales as a % of revenue, in the quarterly factbook.

Sources (5)
Next: Supporters vs. critics

09Both sides

What do supporters and critics point to?

Facts each side points to. We don't say which side is right.

What supporters point to

  • Net income was $3,455 million in Q3 FY2026, up 27.3% from $2,714 million in Q3 FY2025.
  • Free cash flow was $17,995 million in FY2025, up from $1,591 million in FY2021; before November 2024 some cash from sold receivables counted as investing cash, not operating cash.
  • Operating income per $100 of revenue rose from $8.60 in FY2021 to $20.70 in FY2025.
  • Postpaid revenue per account was $155.73 a month in Q3 FY2026, up from $149.44 in Q3 FY2025.
  • T-Mobile says it returned $58.1 billion through buybacks and dividends from Q3 2022 to Sep 30, 2026.

What critics point to

  • Total debt excluding tower obligations was $85,960 million on Sep 30, 2026, plus $28,661 million of operating lease liabilities.
  • Postpaid account churn was 1.09% a month in Q3 FY2026, against 0.97% in Q3 FY2025.
  • Phones and devices cost $5,305 million more than they brought in during FY2025.
  • Deutsche Telekom held 55.9% of the shares in October 2026, and T-Mobile uses Nasdaq's controlled-company exemptions.
  • FY2025 growth includes acquisitions such as UScellular, and since Q1 FY2026 T-Mobile no longer reports customer counts.
Next: What to watch next

10What to watch next

What should you watch next at T-Mobile?

Next event

Q4 FY2026 results

Date not announced yet.

  • Postpaid account additions

    Net account additions were 768,000 in the first nine months of 2026. T-Mobile said on Oct 28, 2026 that it expects about 1.0 million for the year.

  • Account churn

    Postpaid account churn was 1.09% a month in Q3 FY2026, against 0.97% a year earlier. T-Mobile linked the rise to broadband-only accounts and rate plan changes.

  • Debt and cash returns

    Total debt excluding tower obligations was $85,960 million on Sep 30, 2026. The 2026 program allows up to $18.2 billion of buybacks and dividends.

  • New CFO

    Jessica Uhl is to take over as CFO when Peter Osvaldik retires in February 2027, T-Mobile said on Sep 3, 2026.

Next: Key facts

11Key facts

Key facts about T-Mobile

What does T-Mobile do?
T-Mobile US, Inc. sells wireless service, home internet and phones in the US, Puerto Rico and the US Virgin Islands, under the T-Mobile, Metro by T-Mobile and Mint Mobile brands. T-Mobile had 142.4 million postpaid and prepaid customers at Dec 31, 2025, and FY2025 revenue of $88,309 million.
How does T-Mobile make money, and what is its business model?
T-Mobile's business model is charging customers a monthly bill for wireless and broadband service over its own network. In FY2025, T-Mobile's service revenue was $71,306 million of total revenue of $88,309 million, and equipment revenue from phones and devices was $15,972 million.
Is T-Mobile profitable?
Yes. T-Mobile had net income of $10,992 million in FY2025 on revenue of $88,309 million, and operating income of $18,279 million. T-Mobile's net income was $3,455 million in Q3 FY2026, up from $2,714 million in Q3 FY2025.
What is T-Mobile's revenue by segment?
T-Mobile reports a single operating segment, Wireless. By revenue line, T-Mobile's FY2025 revenue was postpaid $57,932 million (65.6%), equipment $15,972 million (18.1%), prepaid $10,497 million (11.9%), and wholesale and other $3,908 million (4.4%).
Who owns T-Mobile?
Deutsche Telekom AG controls T-Mobile US. Its Schedule 13D/A filed Oct 29, 2026 reports 592,065,875 shares, or 55.9% of T-Mobile's common stock, including 10,000,000 SoftBank-held shares it votes under a proxy. T-Mobile has one class of common stock, with 1,059.3 million shares on Oct 23, 2026.
Who are T-Mobile's customers?
T-Mobile's customers are mainly postpaid customers, who pay after service, and prepaid customers, who pay in advance. In FY2025, postpaid was 81% of T-Mobile's service revenue, prepaid 15%, and wholesale and other 4%, which includes partners that resell access to its network.
How much does T-Mobile make from selling phones?
T-Mobile's equipment revenue, from phones and other devices, was $15,972 million in FY2025, and its cost of equipment sales was $21,277 million. So T-Mobile's equipment cost was $5,305 million above its equipment revenue in FY2025.
How big is T-Mobile's home internet business?
T-Mobile had 8.45 million 5G broadband customers, who get home internet over its cellular network, at Dec 31, 2025, up from 6.43 million a year earlier. From Q1 FY2026, T-Mobile reports accounts instead of customer counts.
How much debt does T-Mobile have?
T-Mobile had total debt, excluding tower obligations, of $85,960 million and cash of $5,620 million on Sep 30, 2026, as stated in its Q3 FY2026 investor factbook. T-Mobile's interest expense was $3,774 million in FY2025.
Does T-Mobile pay a dividend?
Yes. T-Mobile declared a dividend of $1.17 a share during Q3 FY2026, payable Dec 10, 2026, and declared $3.80 a share for FY2025. T-Mobile first declared a dividend in FY2023, $0.65 a share.
Sources (7)
Next: Go deeper

Terms on this page

Each explains the term in plain English, with the same number from other companies on Cityfort.

Go deeper

More detail from the same filings. Open any section.

12What it sells

12What it sells

What does T-Mobile sell?

T-Mobile sells monthly phone plans, home internet and the phones that use them. Most of its money comes from those monthly bills.

  • Postpaid plans

    Monthly plans billed after use, for phones, 5G home internet, fiber, tablets and watches. Businesses buy them as T-Mobile for Business. Postpaid revenue was $57,932 million in FY2025.

  • Prepaid plans

    Paid in advance, under the T-Mobile, Metro by T-Mobile, Mint Mobile and Ultra Mobile brands. Prepaid revenue was $10,497 million in FY2025.

  • Home internet

    5G broadband, which is home internet over T-Mobile's cellular network, and fiber through joint ventures such as Metronet and Lumos. T-Mobile had 8.45 million 5G broadband customers at Dec 31, 2025.

  • Phones and devices

    Smartphones, tablets, wearables and 5G gateways. Qualified customers can pay over about 24 months. Equipment revenue was $15,972 million in FY2025.

  • Wholesale and other

    Network access sold to partners that resell it under their own brands, plus device protection, financial services and advertising. Wholesale and other service revenue was $2,877 million, and other revenues $1,031 million, in FY2025.

Think of it like this

A phone plan works a bit like a monthly subscription: customers keep paying each month to stay connected, until they leave.

What it does

  • Does: Runs a nationwide 5G network on licensed spectrum (radio frequencies): an average of 394 MHz of low- and mid-band spectrum at Dec 31, 2025.
  • Does: Sells through its own T-Mobile and Metro by T-Mobile stores, websites, apps and national retailers.
  • Does: Lets qualified customers pay for devices over about 24 months.
  • Does: Pays a quarterly dividend: $1.17 a share, declared during Q3 FY2026.

What it does not do

  • Does not: Does not earn much outside the US: substantially all revenue comes from the US, Puerto Rico and the US Virgin Islands.
  • Does not: Does not report separate business segments: it reports one operating segment, Wireless.
  • Does not: Does not own its Metronet and Lumos fiber ventures outright: it accounts for them as investments, though their fiber customers' bills sit in its postpaid revenue.
  • Does not: Does not report customer counts since Q1 FY2026; it reports accounts instead.
  • Does not: Is not independent of its parent: Deutsche Telekom held 55.9% of the shares in October 2026.
Sources (2)
13How the money flows

13How the money flows · FY2025

How does money flow through T-Mobile?

Money in

  • Service revenues$71.3B
  • Equipment revenues$16.0B
  • Other revenues$1.0B

The company

T-Mobile

$88.3B came in

Money out

  • Selling, general and admin$23.5B
  • Cost of equipment sales$21.3B
  • Depreciation, amortization and impairment$13.8B
  • Cost of services$11.5B
  • Interest and other expense, net$4.0B
  • Income tax$3.3B
  • Net income$11.0B
  1. In FY2025 customers paid T-Mobile $71.3 billion for service, $16.0 billion for phones and devices, and $1.0 billion of other revenue.
  2. Selling, general and admin took $23.5 billion. Phones and devices cost $21.3 billion.
  3. Wear and tear on the network and other assets (depreciation and amortization), plus a $278 million impairment, took $13.8 billion. Cost of services took $11.5 billion.
  4. Interest of $3,774 million and $224 million of other net expense took $4.0 billion. Income tax took $3.3 billion.
  5. That left net income of $11.0 billion.
Sources (1)
14What it needs to run

14What it needs to run

What does T-Mobile need to run?

  • Spectrum

    Licensed radio frequencies, carried at $99,980 million on Sep 30, 2026. T-Mobile had an average of 394 MHz of low- and mid-band spectrum nationwide at Dec 31, 2025, including 185 MHz at 2.5 GHz.

  • Network and equipment

    Property and equipment of $38,333 million, net, at Dec 31, 2025. Capital spending was $9,955 million in FY2025.

  • People

    About 75,000 full-time and part-time employees at Dec 31, 2025, in network, retail, admin and customer support jobs.

  • Stores and retailers

    T-Mobile sells through its own T-Mobile and Metro by T-Mobile stores, websites and apps, national retailers, and dealers that resell devices.

  • Borrowed money

    Total debt, excluding tower obligations, was $85,960 million on Sep 30, 2026. A $10.0 billion revolving credit line runs to Jan 5, 2031.

Sources (3)
15Competitors and what protects it

15Competitors and what protects it

Who does T-Mobile compete with?

T-Mobile's FY2025 10-K says it is the second largest US wireless provider, measured by postpaid and prepaid customers. It names AT&T and Verizon as rival carriers, and smaller providers including Comcast, Charter and EchoStar.

  • AT&T

    NYSE: T

    A rival carrier named in T-Mobile's FY2025 10-K. The 10-K also names AT&T's fixed wireless home internet as a broadband rival.

  • Verizon

    NYSE: VZ

    A rival carrier named in T-Mobile's FY2025 10-K, which also names Verizon's fixed wireless home internet as a broadband rival.

  • Comcast

    NASDAQ: CMCSA

    Named in T-Mobile's 10-K among smaller and regional wireless providers, many of which offer no-contract plans. Cable broadband also competes with T-Mobile's home internet.

  • Charter

    Also named in T-Mobile's 10-K among smaller and regional wireless providers, and a cable broadband provider.

  • EchoStar

    Named in T-Mobile's 10-K among smaller and regional wireless providers.

What protects the business

Each strength is scored 1 (weak) to 5 (strong) for the business, with the reason. It is not a rating of the share.

  • Spectrum licenses4 of 5

    T-Mobile carried spectrum licenses at $99,980 million on Sep 30, 2026. It had an average of 394 MHz of low- and mid-band spectrum nationwide at Dec 31, 2025.

  • Customer base4 of 5

    T-Mobile had 142.4 million postpaid and prepaid customers at Dec 31, 2025, and 34,974 thousand postpaid accounts on Sep 30, 2026.

  • Size3 of 5

    Revenue was $88,309 million in FY2025. The 10-K says T-Mobile is the second largest US wireless provider by customers.

  • Brands at several price levels3 of 5

    T-Mobile sells postpaid plans under its own name and prepaid plans as T-Mobile, Metro by T-Mobile, Mint Mobile and Ultra Mobile.

Weak spot

Accounts leaving

Postpaid account churn was 1.09% a month in Q3 FY2026, against 0.97% in Q3 FY2025. T-Mobile said the rise was primarily due to broadband-only accounts, which have higher churn, and the temporary impact of its rate plan changes.

Sources (2)
16Where growth could come from

16Where growth could come from

Where could T-Mobile's growth come from?

T-Mobile said in its Q3 FY2026 earnings release (Oct 28, 2026) that it expects about 1.0 million postpaid net account additions in 2026. It gave Core Adjusted EBITDA, its own measure, of $37.35 billion to $37.45 billion, and cash from operations of $28.7 billion to $28.8 billion. It expects capital spending of about $10.0 billion.
Management statement, Oct 28, 2026. Reported as a statement, not our forecast.

  • Postpaid accounts

    Working

    768,000 net account additions in the first nine months of 2026

    T-Mobile first guided 900,000 to 1.0 million for 2026 on Feb 11, 2026, and said about 1.0 million on Oct 28, 2026. It had 34,974 thousand postpaid accounts on Sep 30, 2026.

    Status: Working, on track against what the company said.

  • Revenue per account

    Working

    $155.73 a month in Q3 FY2026, against $149.44 in Q3 FY2025

    T-Mobile said the 4% rise came from fee revenue on plans that exclude taxes and fees, and from changes to its rate plans.

    Status: Working, on track against what the company said.

  • 5G home internet

    Working

    8.45 million customers at Dec 31, 2025, against 6.43 million a year earlier

    Customer counts are no longer reported from Q1 FY2026, so later growth shows only within account figures.

    Status: Working, on track against what the company said.

  • Fiber joint ventures

    Early

    $4,056 million invested in unconsolidated affiliates in FY2025

    T-Mobile joined Lumos on Apr 1, 2025 and Metronet on Jul 24, 2025, paying $4.6 billion for 50% of Metronet and 713,000 fiber customers. It completed a joint purchase of i3 Broadband on Oct 1, 2026.

    Status: Early, too early to judge.

  • UScellular

    New

    1,448 thousand postpaid accounts added by acquisition in Q3 FY2025

    T-Mobile bought UScellular's wireless business on Aug 1, 2025, for $2.8 billion in cash plus an exchange of $1.7 billion of notes. Merger-related costs were $406 million in Q1 FY2026, $182 million in Q2 and $129 million in Q3.

    Status: New, recently announced.

  • Advertising

    New

    Vistar ($621 million) and Blis ($180 million) bought in early 2025

    T-Mobile counts advertising among the products it sells next to wireless and broadband. It does not report advertising revenue separately.

    Status: New, recently announced.

Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.

Sources (6)
17The company's own measures (non-GAAP)

17The company's own measures · FY2025

What do T-Mobile's own measures show?

Adjusted (non-GAAP) figures and operating measures are T-Mobile's own, shown next to the official (GAAP) number, for FY2025 unless the row says otherwise. From Q1 FY2026 T-Mobile stopped reporting customer counts and per-phone revenue, and reports accounts instead.

  • Official (GAAP): Net income

    $11.0B

    Company's own measure: Core Adjusted EBITDA

    $33.9B

    T-Mobile leaves out interest, tax, depreciation and amortization, stock-based payPay given as shares instead of cash, which spreads ownership more thinly. Learn more, other income or expense and special items such as merger costs, and also removes device lease revenue.

  • Official (GAAP): Cash from operations

    $28.0B

    Company's own measure: Adjusted Free Cash Flow

    $18.0B

    Cash from operations minus capital spending of $9,955 million. For FY2025 it equals this page's free cash flow.

  • Official (GAAP): Cash from operations, FY2024

    $22.3B

    Company's own measure: Adjusted Free Cash Flow, FY2024

    $17.0B

    Before November 2024, T-Mobile added back cash from sold receivables that sat in investing cash flow, so its measure was above this page's free cash flow of $13,453 million.

  • Official (GAAP): Net income, Q3 FY2026

    $3.5B

    Company's own measure: Core Adjusted EBITDA, Q3 FY2026

    $9.6B

    Same definition, for the quarter ended Sep 30, 2026. Special items left out that quarter included $129 million of merger costs and $195 million of stock-based pay.

  • Official (GAAP): Net income per $100 of total revenue, Q3 FY2026

    14.6%

    Company's own measure: Core Adjusted EBITDA margin, Q3 FY2026

    49.7%

    T-Mobile divides by service revenue only ($19,375 million), not total revenue.

  • Official (GAAP): Net debt ÷ net income

    $7.1M

    Company's own measure: Net debt ÷ Core Adjusted EBITDA, Sep 30, 2026

    2.2 times

    T-Mobile states both ratios, using net debt excluding tower obligations and the prior four quarters.

  • Official (GAAP)

    No official figure measures this; it is the company's own operating measure.

    Company's own measure: Postpaid net account additions, Q3 FY2026

    274 thousand

    New postpaid accounts minus accounts lost, as T-Mobile counts them, against 396 thousand in Q3 FY2025. Nearest official figure: revenue of $23,584 million for the quarter.

  • Official (GAAP)

    No official figure measures this; it is the company's own operating measure.

    Company's own measure: Postpaid account churn, Q3 FY2026

    1.1 % per month

    The share of postpaid accounts lost per month. It was 0.97% in Q3 FY2025.

  • Official (GAAP)

    No official figure measures this; it is the company's own operating measure.

    Company's own measure: Postpaid revenue per account, Q3 FY2026

    155.7 $ per month

    T-Mobile presents this as postpaid ARPA (average revenue per account). It was $149.44 in Q3 FY2025.

These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.

Learn: Non-GAAP measures: what a company's "adjusted" numbers leave out · Stock-based compensation and dilution: pay that becomes shares

Sources (5)
18Financial strength and debt

18Financial strength · Sep 30, 2026

How much debt does T-Mobile have?

On Sep 30, 2026, debt minus cash was $80.3 billion, about 2.8 years of the $28.7 billion of cash from operations over the prior four quarters.
  • Total debt$86.0B
  • Cash and investments$5.6B
  • Net debt (debt minus cash)$80.3B
  • Net worth (shareholders' money)$56.3B
Debt to equity
1.53×
$ of debt for every $1 of shareholders' money
Interest cover
4.7×
how many times operating profit covers interest
  • Total debt of $85,960 million is T-Mobile's own total excluding tower obligations, and includes finance leases. Net debt of $80,340 million is as stated in the Q3 FY2026 investor factbook. Total debt was $80,591 million on Dec 31, 2024.
  • Cash from operations over the four quarters to Sep 30, 2026 was $28,717 million (Cityfort calculation from the Q3 FY2026 investor factbook). Interest cover is operating income of $19,384 million ÷ interest of $4,129 million over the same period.
  • Operating lease liabilities of $28,661 million and tower obligations of $3,419 million are not in total debt.
  • Net worth is stockholders' equity: $56,307 million on Sep 30, 2026, against $69,102 million at Dec 31, 2021. Buybacks and dividends of $45,444 million in FY2022 to FY2025 were above net income of $33,238 million (Cityfort calculation from FY2025 10-K and FY2023 10-K).
  • Long-term debt to Deutsche Telekom of $1,498 million at Dec 31, 2025 is shown as zero from Mar 31, 2026.
  • T-Mobile's revolving credit line was raised to $10.0 billion in January 2026, maturing Jan 5, 2031.
Sources (6)
19Who owns it

19Who owns it · ownership as of Mar 31, 2026

Who owns T-Mobile?

T-Mobile has one share class, one vote per share, and Deutsche Telekom controls a majority of the votes. Directors and executive officers as a group held 3,433,635 shares at Mar 31, 2026, stated as less than 1% (0.32% by Cityfort calculation from 2026 proxy statement and the Q1 FY2026 10-Q, on 1,082.2 million shares).
Officers and directors (as a group), shares
0.3%
Share classes
T-Mobile share classes: shares outstanding (millions) and votes per share
ClassShares (millions)Votes per shareHeld by% of shares% of votesTraded
Common stock (1,059,272,571 shares on Oct 23, 2026, from the Q3 FY2026 10-Q cover. 100 million preferred shares are authorized; none are outstanding.)1,059.31Deutsche Telekom, public and institutions100.0%100.0%Yes
Holders of 5% or more
T-Mobile holders of 5% or more, from the proxy statement or later Schedule 13G filings; each row shows its own date
HolderSharesVotesAs ofSourceNote
Deutsche Telekom AG55.9%55.9%Oct 29, 2026S21, S20, S6592,065,875 shares, 55.9% of the 1,059,272,571 shares outstanding on Oct 23, 2026, from its Schedule 13D/A No. 36: 582,065,875 held by a Deutsche Telekom subsidiary and 10,000,000 held by a SoftBank subsidiary, which Deutsche Telekom votes under a proxy and can buy under call options. Deutsche Telekom disclaims beneficial ownership of SoftBank-held shares not subject to the proxy. The 2026 proxy showed 54.5% at Mar 31, 2026; the rise came from T-Mobile's buybacks.

From the company's proxy statement (DEF 14A), later Schedule 13G filings and the share counts on its latest annual or quarterly report. Each holder row shows the date of its own filing.

Learn: How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Form 4 insider filings: who files, the codes and the footnotes

Sources (3)
20What it does with profit

20What it does with profit

What does T-Mobile do with its profit?

T-Mobile paid no dividend in FY2021 or FY2022 and first declared one in FY2023. Per-share figures are dividends declared; payout is that ÷ diluted EPS. T-Mobile says it returned $58.1 billion from its program's start in Q3 2022 to Sep 30, 2026: $46.7 billion of buybacks and $11.5 billion of dividends. It declared $1.17 a share during Q3 FY2026, 15% more than before.

Dividend per share

$3.80FY2025

Dividend paid for each share, by financial year.

$ per share

See the numbers
Dividend per share ($ per share)
YearDividend per shareShare of profit paid out
FY2023$0.659.4%
FY2024$3.7138.4%
FY2025$3.8039.1%

  • Buyback · Dec 31, 2023

    Share repurchases in FY2023

    $13.1B

  • Buyback · Dec 31, 2024

    Share repurchases in FY2024

    $11.2B

  • Buyback · Dec 31, 2025

    Share repurchases in FY2025

    $10.0B

  • Buyback · Sep 30, 2026

    Share repurchases in the first nine months of FY2026, under a 2026 program of up to $18.2 billion of buybacks and dividends

    $9.5B

Sources (4)
21Governance signals

21Governance signals

What do T-Mobile's governance filings show?

Auditor
Deloitte & Touche LLP, since 2022
Auditor changes
None in the period covered
Audit qualifications
None reported
Related-party dealings
Deutsche Telekom, the controlling holder, is a related party. T-Mobile paid it about $80.0 million in trademark royalties in 2025, under a license to the T-Mobile name. The Audit Committee reviews transactions with Deutsche Telekom, the 2026 proxy says.
Credit rating
Not checked for this page

Flags to know about

  • other · Oct 29, 2026

    A controlled company

    Deutsche Telekom held 55.9% of the shares in October 2026 and can name up to 10 board nominees. T-Mobile uses Nasdaq exemptions for controlled companies, so a majority of its board and its compensation and nominating committees need not be independent.

  • shares as collateral · Apr 27, 2026

    A director's shares used as loan collateral

    The 2026 proxy says 1,842,191 shares held by director Marcelo Claure secure a line of credit with an unrelated bank, an arrangement that began before the Sprint deal.

  • disclosure · Apr 28, 2026

    Customer counts no longer reported

    From Q1 FY2026 T-Mobile reports accounts, account churn and revenue per account. It stopped reporting customer counts, phone churn and per-phone revenue, so those series end at Q4 FY2025.

  • disclosure

    Credit rating letters not shown

    None of the filings read for this page states T-Mobile's credit rating letters: the FY2025 10-K, the Q3 FY2026 10-Q and the February 2026 note term sheet. So this page shows no rating.

  • regulatory

    Cyberattack inquiries

    T-Mobile recorded a pre-tax charge of about $400 million in Q2 FY2022 after its August 2021 cyberattack. Its Q3 FY2026 10-Q says government inquiries continue and that further losses are reasonably possible.

  • other

    Lawsuits involving Deutsche Telekom

    A 2022 antitrust class action, Dale v. Deutsche Telekom AG, alleges that the Sprint merger violated antitrust laws and seeks trebled damages; T-Mobile says it is defending it. In Delaware, Dinkevich v. Deutsche Telekom AG (filed Jun 1, 2021) alleges breach of fiduciary duty over the repricing amendment to the Sprint merger agreement and SoftBank's sales of T-Mobile shares. Palkon v. Deutsche Telekom AG (filed Feb 25, 2025) alleges breach of fiduciary duty and unjust enrichment over T-Mobile's 2022 Stock Repurchase Program and 2023-2024 Stockholder Return Program.

  • auditor

    Auditor since 2022

    Deloitte & Touche LLP has audited T-Mobile since 2022. PricewaterhouseCoopers audited FY2021.

  • other · Oct 28, 2026

    Leadership changes

    Former CEO G. Michael Sievert left the board on Nov 1, 2026. T-Mobile named Chris Sambar Chief Enterprise Officer on Jul 7, 2026, effective no later than Oct 14, 2026, and the CFO changes in February 2027.

Sources (10)
22What the market paid

22What the market paid · price as of Nov 5, 2026

What did the market pay for T-Mobile on Nov 5, 2026?

Price as of Nov 5, 2026 (shown for education; prices change daily).

Price as of Nov 5, 2026: T-Mobile closed at $160.59, from Nasdaq's historical price table; the stock is listed on Nasdaq. Times 1,059.3 million shares on Oct 23, 2026, that is a market value of about $170.1 billion (Cityfort calculation from the Nov 5, 2026 Nasdaq closing price and the Q3 FY2026 10-Q). P/E is price ÷ earnings per share: 15.5 on diluted EPS of $10.36 for the four quarters to Sep 30, 2026 (Cityfort calculation from the Q4 FY2025 to Q3 FY2026 earnings releases), or 16.5 on FY2025's $9.72. Dividend yield as of the same date: 2.91%, on the $1.17 quarterly dividend declared during Q3 FY2026, or $4.68 a year.

Share price
$160.59
Market value (market cap)
$170.1B
P/E
15.5×

More price-based ratios · as of Nov 5, 2026

Each ratio divides a number from the company's filings by the market value or share price on Nov 5, 2026. Prices change daily, so these ratios do too.

Shares used for the market value: 1,059.3 million ($160.59 × 1,059.3 million shares ≈ $170.1B). Source: Form 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026)

Source: Nasdaq historical quotes for TMUS (closing price Nov 5, 2026); Form 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026); Earnings release Q4 FY2025, Form 8-K Item 2.02, Exhibit 99.1 and 5 more

Sources (10)
23How it got here

23How it got here

How did T-Mobile get here?

  1. 2020

    Business-model change

    Merged with Sprint

    The Sprint merger closed on Apr 1, 2020. FY2021 and FY2022 carried integration costs. FY2022 included a $1,087 million loss on the wireline business, which it agreed to sell to Cogent in 2022.

  2. 2021

    Crisis

    August 2021 cyberattack

    Customer data was taken in a cyberattack. T-Mobile recorded a pre-tax charge of about $400 million in Q2 FY2022 for settlements.

  3. 2022

    Milestone

    Began returning cash to shareholders

    Its shareholder return program started in Q3 2022, with $3,000 million of buybacks that year. T-Mobile first declared a dividend in FY2023.

  4. 2024

    Business-model change

    Bought Mint Mobile

    T-Mobile completed the purchase of Ka'ena, owner of Mint Mobile, on May 1, 2024. Mint had been a wholesale partner on its network.

  5. 2025

    Business-model change

    UScellular and fiber ventures

    It joined the Lumos fiber venture on Apr 1 and Metronet on Jul 24, and bought UScellular's wireless business on Aug 1, 2025.

  6. 2025

    Milestone

    New CEO

    Srini Gopalan became CEO on Nov 1, 2025, succeeding G. Michael Sievert, who left the board a year later.

  7. 2026

    Business-model change

    Accounts replace customer counts

    From Q1 FY2026 T-Mobile reports postpaid accounts instead of customer counts. It also sold 800 MHz spectrum to Grain for about $2.9 billion in cash plus Grain's 600 MHz licenses.

Sources (7)

24Sources and changes

Where every number on this page comes from

Sources (30 documents)
  1. S1Form 10-K, fiscal year 2025 (ended Dec 31, 2025) · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 11, 2026
  2. S2Form 10-K, fiscal year 2024 (ended Dec 31, 2024) · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 31, 2025
  3. S3Form 10-K, fiscal year 2023 (ended Dec 31, 2023) · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 2, 2024
  4. S4Form 10-K, fiscal year 2022 (ended Dec 31, 2022) · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 14, 2023
  5. S5Form 10-K, fiscal year 2021 (ended Dec 31, 2021) · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 11, 2022
  6. S6Form 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026) · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 28, 2026
  7. S7Form 10-Q, Q2 FY2026 (quarter ended Jun 30, 2026) · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jul 23, 2026
  8. S8Form 10-Q, Q1 FY2026 (quarter ended Mar 31, 2026) · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 28, 2026
  9. S9Form 10-Q, Q3 FY2025 (quarter ended Sep 30, 2025) · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 23, 2025
  10. S10Earnings release Q3 FY2026, Form 8-K Item 2.02, Exhibit 99.1 · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 28, 2026
  11. S11Investor Factbook Q3 FY2026, Form 8-K Item 2.02, Exhibit 99.2 · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 28, 2026
  12. S12Earnings release Q2 FY2026, Form 8-K Item 2.02, Exhibit 99.1 · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jul 23, 2026
  13. S13Earnings release Q1 FY2026, Form 8-K Item 2.02, Exhibit 99.1 · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 28, 2026
  14. S14Earnings release Q4 FY2025, Form 8-K Item 2.02, Exhibit 99.1 · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 11, 2026
  15. S15Investor Factbook Q4 FY2025, Form 8-K Item 2.02, Exhibit 99.2 · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 11, 2026
  16. S16Earnings release Q3 FY2025, Form 8-K Item 2.02, Exhibit 99.1 · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 23, 2025
  17. S17Earnings release Q2 FY2025, Form 8-K Item 2.02, Exhibit 99.1 · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jul 23, 2025
  18. S18Earnings release Q1 FY2025, Form 8-K Item 2.02, Exhibit 99.1 · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 24, 2025
  19. S19Earnings release Q4 FY2024, Form 8-K Item 2.02, Exhibit 99.1 · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 29, 2025
  20. S20Definitive proxy statement (DEF 14A), 2026 annual meeting · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 27, 2026
  21. S21Schedule 13D/A (Amendment No. 36), Deutsche Telekom AG (event Oct 28, 2026) · Deutsche Telekom AG (SEC EDGAR) · Tier 1: company or exchange filing · Oct 29, 2026
  22. S22Form 8-K (Item 8.01): 2026 shareholder return program up to $14.6 billion · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Dec 11, 2025
  23. S23Form 8-K (Item 8.01): 2026 shareholder return program increased to up to $18.2 billion · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 23, 2026
  24. S24Form 8-K (Items 1.01, 2.03): Second Amended and Restated Credit Agreement ($10.0 billion revolver) · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 6, 2026
  25. S25Form 8-K (Item 5.02): CFO transition (Peter Osvaldik to retire; Jessica Uhl CFO Designate) · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 3, 2026
  26. S26Form 8-K (Item 5.02): Chief Enterprise Officer appointment and leadership changes · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jul 7, 2026
  27. S27Form 8-K (Item 5.02): G. Michael Sievert resigns from the board effective Nov 1, 2026 · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 28, 2026
  28. S28Form 8-K (Item 5.02): Jonathan A. Freier appointed Chief Operating Officer · T-Mobile US, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Dec 9, 2025
  29. S29Nasdaq historical quotes for TMUS (closing price Nov 5, 2026) · Nasdaq, Inc. · Tier 1: company or exchange filing · Nov 5, 2026
  30. S30Free writing prospectus: pricing term sheet, T-Mobile USA, Inc. EUR 2.5 billion senior notes (Feb 12, 2026) · T-Mobile USA, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 12, 2026
Changes to this page (v1 · Nov 6, 2026)
  1. v1 · Nov 6, 2026First version. (first version)

Numbers come only from tier 1 and tier 2 sources. Read how we research.

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Cityfort publishes general educational content that explains how listed companies work. Cityfort is not registered with the US Securities and Exchange Commission or any state securities regulator as an investment adviser, and is not a broker-dealer or a member of FINRA. Cityfort does not provide investment, tax or legal advice, recommendations, ratings, price targets or any opinion on whether to buy, sell or hold any security. Nothing on the site is tailored to any person's circumstances.

All information is taken from publicly available sources, mainly company filings with the SEC, which are listed on each page with dates. We work to keep it accurate and correct errors publicly, but we do not guarantee that it is complete, accurate or up to date. Any market price or price-based ratio shown is dated, may be out of date by the time you read it, and is included only to explain concepts.

Statements by company management, including forward-looking statements and guidance, are reported as the company's statements, with their date and source; they are not our forecasts. Adjusted (non-GAAP) figures are the company's own measures and are shown next to the official (GAAP) figures.