T-Mobile US
TMUSNASDAQUSD
- — Source valuation snapshot. Not a live recalculation.
- — Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- — Diluted earnings per share from the latest filed annual.
- $169.08 Prior regular-session close from the quote source.
- $167.38–$170.50 Regular-session low and high so far today.
- 2.3M Regular-session shares traded · Nov 11, 3:46 PM ET.
- Feb 10 projected Projected for 2027-02-10 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $143.75–$224.75 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own TMUS if T-Mobile converts a customer-focused 'Un‑carrier' position and rapid 5G network scale into sustained share gains, high cash generation and operating leverage that fund growth and shareholder returns.
TMUS price history
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INVESTMENT THESIS
What must happen next
T‑Mobile’s Un‑carrier positioning plus superior 5G network quality will continue to win postpaid customers and protect ARPU, letting revenue continue growing above legacy incumbents.StrengtheningMateriality: High
Revenue increased from 78,558,000,000 (2023 annual) to 88,309,000,000 (2025 annual), showing recent top‑line growth while pursuing market share. If true, revenue growth compounds, supporting higher operating income and valuation; if false, share losses or ARPU erosion force slower top‑line growth and lower valuation.
Watch: Verizon or AT&T close the network performance gap (through faster 5G rollouts or spectrum integration) and win sustained net additions share.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Revenue increased from 78,558,000,000 (2023 annual) to 88,309,000,000 (2025 annual), showing recent top‑line growth while pursuing market share.
Open source ↗Scale and efficiency in operations will convert revenue gains into sustained operating margin and rising operating income, producing durable operating leverage.StrengtheningMateriality: High
Operating income rose from 14,266,000,000 (2023 annual) to 18,279,000,000 (2025 annual), indicating improving absolute operating profitability. Operating leverage increases cash available for capex and returns; if leverage fails, cash and EPS growth are at risk even with revenue growth.
Watch: A step‑up in required capex (e.g., densification for new spectrum bands or new wireless standards) that increases network opex/capex and compresses margin.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating income rose from 14,266,000,000 (2023 annual) to 18,279,000,000 (2025 annual), indicating improving absolute operating profitability.
Open source ↗T‑Mobile’s strong operating_cash_flow will continue to fund network investment and shareholder returns (buybacks/dividends) without materially increasing leverage.StrengtheningMateriality: Medium
Operating cash flow increased from 18,559,000,000 (2023 annual) to 27,950,000,000 (2025 annual), a meaningful cash generation improvement. If OCF remains strong, the company can invest in network and return capital while preserving financial flexibility; if OCF weakens, funding choices will force higher leverage or reduced returns.
Watch: Large, unexpected spectrum purchases or regulatory conditions that require significant upfront cash outlays.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating cash flow increased from 18,559,000,000 (2023 annual) to 27,950,000,000 (2025 annual), a meaningful cash generation improvement.
Open source ↗EPS growth will outpace revenue growth because operating leverage plus capital returns (buybacks) will compound per‑share earnings.HoldingMateriality: Medium
Diluted EPS rose from 6.93 (2023 annual) to 9.72 (2025 annual) while revenue increased, implying EPS expanded faster than top‑line in recent years. If EPS compounds faster than revenue, total shareholder return is amplified; if not, valuation multiple compression or underperformance may follow.
Watch: Net issuance of shares (e.g., to fund M&A or employee equity) or cessation of buybacks that stops EPS accretion.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Diluted EPS rose from 6.93 (2023 annual) to 9.72 (2025 annual) while revenue increased, implying EPS expanded faster than top‑line.
Open source ↗
Full investment case & evidence
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Original research
T‑Mobile’s Un‑carrier positioning plus superior 5G network quality will continue to win postpaid customers and protect ARPU, letting revenue continue growing above legacy incumbents. If true, revenue growth compounds, supporting higher operating income and valuation; if false, share losses or ARPU erosion force slower top‑line growth and lower valuation.
Scale and efficiency in operations will convert revenue gains into sustained operating margin and rising operating income, producing durable operating leverage. Operating leverage increases cash available for capex and returns; if leverage fails, cash and EPS growth are at risk even with revenue growth.
T‑Mobile’s strong operating_cash_flow will continue to fund network investment and shareholder returns (buybacks/dividends) without materially increasing leverage. If OCF remains strong, the company can invest in network and return capital while preserving financial flexibility; if OCF weakens, funding choices will force higher leverage or reduced returns.
EPS growth will outpace revenue growth because operating leverage plus capital returns (buybacks) will compound per‑share earnings. If EPS compounds faster than revenue, total shareholder return is amplified; if not, valuation multiple compression or underperformance may follow.
All standing thesis claims
Original report summary
T-Mobile converts a customer-focused 'Un‑carrier' position and rapid 5G network scale into sustained share gains, high cash generation and operating leverage that fund growth and shareholder returns.
Bull case and bear case
Bull case and bear case for T-Mobile US
Where the evidence on T-Mobile US stands: Holding on the latest evidence (Oct 15, 2026). Of its 4 thesis points, 3 strengthening and 1 holding.
Bull case: what the evidence supports
T‑Mobile’s Un‑carrier positioning plus superior 5G network quality will continue to win postpaid customers and protect ARPU, letting revenue continue growing above legacy incumbents.
Scale and efficiency in operations will convert revenue gains into sustained operating margin and rising operating income, producing durable operating leverage.
T‑Mobile’s strong operating_cash_flow will continue to fund network investment and shareholder returns (buybacks/dividends) without materially increasing leverage.
EPS growth will outpace revenue growth because operating leverage plus capital returns (buybacks) will compound per‑share earnings.
Bear case: what would count against it
Verizon or AT&T close the network performance gap (through faster 5G rollouts or spectrum integration) and win sustained net additions share.
A step‑up in required capex (e.g., densification for new spectrum bands or new wireless standards) that increases network opex/capex and compresses margin.
Large, unexpected spectrum purchases or regulatory conditions that require significant upfront cash outlays.
Thesis-Break Engine
What has broken in T-Mobile US’s thesis
Each break OptimistFi flagged on T-Mobile US, dated — with what has historically followed the same kind of break across the market, not a forecast for T-Mobile US.
- CEO / officer changecondition set before this filing
Across all companies, this kind of break has happened 16,849 times before. Those stocks trailed comparable companies by a median of 2% over the next six months, and 38% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MIXEDDirector or principal officer change.
T-Mobile US filed an SEC 8-K on 2026-09-03: Director or principal officer change. It is a dated development that tests the current thesis.
- MIXEDReported results of operations (earnings release).
T-Mobile US filed an SEC 8-K on 2026-07-23: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MIXEDDirector or principal officer change.
T-Mobile US filed an SEC 8-K on 2026-07-07: Director or principal officer change. It is a dated development that tests the current thesis.
RISKS / FALSIFIERS
What could break the thesis
- Verizon or AT&T close the network performance gap (through faster 5G rollouts or spectrum integration) and win sustained net additions share.
- A step‑up in required capex (e.g., densification for new spectrum bands or new wireless standards) that increases network opex/capex and compresses margin.
- Large, unexpected spectrum purchases or regulatory conditions that require significant upfront cash outlays.
- Net issuance of shares (e.g., to fund M&A or employee equity) or cessation of buybacks that stops EPS accretion.
TMUS news
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FINANCIAL STATEMENTS
TMUS income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
TMUS: quick answers
- When does T-Mobile US (TMUS) report earnings next?
- T-Mobile US's next results are projected for February 10, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on October 28, 2026. Earnings calendar
- What is TMUS's short interest?
- As of October 30, 2026, 15.7M TMUS shares were sold short, 1.48% of its shares outstanding, up 4.7% from the count before. At the stock's average daily volume that is 2.2 days to cover. FINRA publishes the count twice a month. TMUS short interest history
- Have members of Congress traded TMUS?
- Reports made public in the last 90 days disclose 8 trades in TMUS by 1 filer: 2 purchases and 6 sales. They are filed under the STOCK Act by members of Congress, the President and senior officials. Every disclosed TMUS trade
- Which well-known investors own TMUS?
- 1 of the 37 well-known funds tracked here reported TMUS shares in their latest 13F filing. By share of the fund's portfolio: Bridgewater Associates (Ray Dalio), 0.1%. Fund portfolios
TMUS in well-known investors’ portfolios
1 of 37 funds reported TMUS shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Ray DalioBridgewater Associates | 0.12% | $28.9M | +75.3% | Q2 2026 |