T-Mobile US, Inc. (TMUS) Balance Sheet
TMUS balance sheet, 2025
December 31, 2025 · U.S. dollars$219.24B assets = $160.03B liabilities + $59.20B equity
Both columns are drawn to the same scale: what TMUS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TMUS financial health
Descriptive bands, not a rating. Fiscal 2025.
TMUS balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $65.89B2016 | $219.24B2025 | +14.3%/yr | |
| Total liabilities | $47.66B2016 | $160.03B2025 | +14.4%/yr | |
| Shareholders’ equity | $18.24B2016 | $59.20B2025 | +14.0%/yr | |
| Cash & short-term investments | $5.50B2016 | $5.60B2025 | +0.2%/yr | |
| Total debt | $24.81B2016 | $122.27B2025 | +19.4%/yr | |
| Net cash (debt) | −$19.31B2016 | −$116.67B2025 | −$97.4B | |
| Working capital | $5.20B2016 | −$39.0M2025 | −$5.2B | |
| Book value per share | $21.892016 | $52.342025 | +10.2%/yr | |
| Current ratio | 1.582016 | 1.002025 | −0.58 | |
| Debt / equity | 1.362016 | 2.072025 | +0.70 | |
| Shares outstanding | 833.1M2016 | 1.13B2025 | +3.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TMUS assets
TMUS liabilities and equity
TMUS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TMUS balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $5.60B | $5.41B | $5.13B | $4.51B | $6.63B | $10.38B | $1.53B | $1.20B | $1.22B | $5.50B |
| Cash & equivalents | $5.60B | $5.41B | $5.13B | $4.51B | $6.63B | $10.38B | $1.53B | $1.20B | $1.22B | $5.50B |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $9.87B | $8.65B | $9.15B | $9.57B | $8.94B | $7.85B | $4.51B | $4.32B | $4.23B | $3.87B |
| Inventory | $2.40B | $1.61B | $1.68B | $1.88B | $2.57B | $2.53B | $964.0M | $1.08B | $1.57B | $1.11B |
| Other current assets | $6.59B | $2.73B | $3.05B | $3.11B | $2.75B | $3.12B | $2.31B | $1.68B | $1.90B | $3.74B |
| Total current assets | $24.46B | $18.40B | $19.02B | $19.07B | $20.89B | $23.89B | $9.30B | $8.28B | $8.91B | $14.22B |
| Property, plant & equipment (net) | $66.78B | $67.02B | $70.84B | $74.06B | $70.08B | $72.22B | $35.63B | $23.36B | $22.20B | $20.94B |
| Goodwill & intangible assets | $17.52B | $116.08B | $111.56B | $111.54B | $109.53B | $99.24B | $38.51B | $37.66B | $37.27B | $29.07B |
| Long-term investments | $0 | $0 | $0 | $2.55B | $2.83B | $2.03B | $1.58B | $1.55B | $1.27B | $984.0M |
| Other non-current assets | $110.47B | $6.53B | $6.27B | $4.13B | $3.23B | $2.78B | $1.89B | $1.62B | $912.0M | $674.0M |
| Total assets | $219.24B | $208.03B | $207.68B | $211.34B | $206.56B | $200.16B | $86.92B | $72.47B | $70.56B | $65.89B |
| Liabilities | ||||||||||
| Accounts payable | $4.40B | $3.78B | $4.83B | $7.21B | $6.50B | $5.56B | $4.32B | $5.49B | $6.18B | $5.16B |
| Short-term debt | $10.11B | $8.98B | $9.17B | $9.84B | $10.17B | $9.51B | $3.27B | $841.0M | $1.61B | $354.0M |
| Deferred revenue | $1.53B | $1.22B | $825.0M | $780.0M | $856.0M | $1.03B | $631.0M | $698.0M | $779.0M | $986.0M |
| Total current liabilities | $24.50B | $20.17B | $20.93B | $24.74B | $23.50B | $21.70B | $12.51B | $10.27B | $11.52B | $9.02B |
| Long-term debt | $81.15B | $74.20B | $71.40B | $65.30B | $67.08B | $61.83B | $10.96B | $12.12B | $12.12B | $24.45B |
| Lease obligations | $35.99B | $35.68B | $38.07B | $35.90B | $31.82B | $33.09B | $15.13B | $841.0M | — | — |
| Other long-term liabilities | $54.39B | $51.92B | $50.64B | $51.64B | $46.89B | $51.28B | $34.67B | $25.36B | $24.37B | $14.18B |
| Total liabilities | $160.03B | $146.29B | $142.97B | $141.68B | $137.46B | $134.82B | $58.13B | $47.75B | $48.00B | $47.66B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | — | — | $0 | $0 |
| Retained earnings (deficit) | $21.14B | $14.38B | $7.35B | −$223.0M | −$2.81B | −$5.84B | −$8.83B | −$12.95B | −$16.07B | −$20.61B |
| Treasury stock | — | — | — | — | −$13.0M | −$11.0M | −$8.0M | −$6.0M | −$4.0M | −$1.0M |
| Accumulated other comprehensive income | −$848.0M | −$857.0M | −$964.0M | −$1.05B | −$1.36B | −$1.58B | −$868.0M | −$332.0M | $8.0M | $1.0M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $59.20B | $61.74B | $64.72B | $69.66B | $69.10B | $65.34B | $28.79B | $24.72B | $22.56B | $18.24B |
| Key figures | ||||||||||
| Total debt | $122.27B | $114.40B | $113.83B | $111.79B | $108.82B | $107.25B | $42.33B | $15.52B | $30.91B | $24.81B |
| Net cash (debt) | −$116.67B | −$109.00B | −$108.69B | −$107.28B | −$102.19B | −$96.86B | −$40.81B | −$14.32B | −$29.69B | −$19.31B |
| Working capital | −$39.0M | −$1.77B | −$1.91B | −$5.67B | −$2.61B | $2.18B | −$3.20B | −$1.99B | −$2.60B | $5.20B |
| Tangible book value | $41.68B | −$54.33B | −$46.84B | −$41.88B | −$40.42B | −$33.90B | −$9.72B | −$12.94B | −$14.71B | −$10.84B |
| Book value per share | $52.34 | $52.63 | $53.92 | $55.49 | $55.07 | $56.59 | $33.34 | $28.80 | $25.88 | $21.89 |
| Shares outstanding | 1.13B | 1.17B | 1.20B | 1.26B | 1.25B | 1.15B | 863.4M | 858.3M | 871.8M | 833.1M |
| Current ratio | 1.00 | 0.91 | 0.91 | 0.77 | 0.89 | 1.10 | 0.74 | 0.81 | 0.77 | 1.58 |
| Quick ratio | 0.63 | 0.70 | 0.68 | 0.57 | 0.66 | 0.84 | 0.48 | 0.54 | 0.47 | 1.04 |
| Debt / equity | 2.07 | 1.85 | 1.76 | 1.60 | 1.57 | 1.64 | 1.47 | 0.63 | 1.37 | 1.36 |
| Equity / assets | 27.0% | 29.7% | 31.2% | 33.0% | 33.5% | 32.6% | 33.1% | 34.1% | 32.0% | 27.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $2.83B | $3.52B | $5.60B | $3.31B | $10.26B | $12.00B | $5.41B | $9.75B | $6.42B | $6.71B | $5.13B | $5.03B |
| Cash & equivalents | $2.83B | $3.52B | $5.60B | $3.31B | $10.26B | $12.00B | $5.41B | $9.75B | $6.42B | $6.71B | $5.13B | $5.03B |
| Receivables | $9.96B | $9.79B | $9.87B | $9.68B | $8.82B | $8.69B | $8.65B | $7.88B | $8.34B | $8.31B | $9.15B | $8.97B |
| Inventory | $2.19B | $2.33B | $2.40B | $2.37B | $1.69B | $1.94B | $1.61B | $1.79B | $1.32B | $1.52B | $1.68B | $1.69B |
| Other current assets | $6.79B | $6.48B | $6.59B | $6.34B | $6.00B | $4.82B | $2.73B | $3.11B | $3.22B | $2.75B | $3.05B | $2.98B |
| Total current assets | $21.77B | $22.12B | $24.46B | $21.70B | $26.77B | $27.44B | $18.40B | $22.53B | $19.30B | $19.30B | $19.02B | $18.67B |
| Property, plant & equipment (net) | $64.21B | $65.05B | $66.78B | $67.74B | $65.32B | $65.90B | $67.02B | $66.79B | $67.73B | $69.23B | $70.84B | $72.04B |
| Goodwill & intangible assets | $115.14B | $17.24B | $17.52B | $115.56B | $111.83B | $114.82B | $116.08B | $114.51B | $114.65B | $111.83B | $111.56B | $111.75B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $12.43B | $110.26B | $110.47B | $12.18B | $8.72B | $6.47B | $6.53B | $6.91B | $6.87B | $5.91B | $6.27B | $6.12B |
| Total assets | $213.55B | $214.67B | $219.24B | $217.18B | $212.64B | $214.63B | $208.03B | $210.74B | $208.56B | $206.27B | $207.68B | $208.58B |
| Liabilities | ||||||||||||
| Accounts payable | $8.77B | $9.52B | $4.40B | $4.71B | $4.14B | $4.01B | $3.78B | $3.05B | $3.29B | $3.35B | $5.57B | $4.60B |
| Short-term debt | $10.91B | $7.03B | $10.11B | $11.04B | $10.91B | $12.65B | $8.98B | $10.43B | $10.32B | $10.06B | $8.43B | $8.27B |
| Deferred revenue | $1.44B | $1.47B | $1.53B | $1.49B | $1.22B | $1.19B | $1.22B | $1.12B | $1.10B | $846.0M | $825.0M | $830.0M |
| Total current liabilities | $23.55B | $20.34B | $24.50B | $24.30B | $22.10B | $23.63B | $20.17B | $20.95B | $23.04B | $20.56B | $20.93B | $21.71B |
| Long-term debt | $78.50B | $83.81B | $81.15B | $77.86B | $76.52B | $77.53B | $74.20B | $74.02B | $71.70B | $72.86B | $71.40B | $71.86B |
| Lease obligations | $34.82B | $35.17B | $35.99B | $36.24B | $34.94B | $35.17B | $35.68B | $36.28B | $36.58B | $37.45B | $38.07B | $34.78B |
| Other long-term liabilities | $51.77B | $54.64B | $54.39B | $54.54B | $52.92B | $52.37B | $51.92B | $51.52B | $51.18B | $50.77B | $50.64B | $50.31B |
| Total liabilities | $157.29B | $158.80B | $160.03B | $156.70B | $151.54B | $153.53B | $146.29B | $146.49B | $145.92B | $144.19B | $142.97B | $143.88B |
| Shareholders' equity | ||||||||||||
| Retained earnings (deficit) | $24.69B | $22.54B | $21.14B | $20.16B | $18.58B | $16.34B | $14.38B | $12.40B | $10.36B | $8.20B | $7.35B | $5.33B |
| Accumulated other comprehensive income | −$635.0M | −$835.0M | −$848.0M | −$881.0M | −$908.0M | −$989.0M | −$857.0M | −$889.0M | −$917.0M | −$926.0M | −$964.0M | −$949.0M |
| Total shareholders' equity | $56.27B | $55.88B | $59.20B | $60.48B | $61.11B | $61.10B | $61.74B | $64.25B | $62.64B | $62.07B | $64.72B | $64.70B |
| Key figures | ||||||||||||
| Total debt | $116.00B | $117.73B | $122.27B | $120.44B | $117.86B | $120.91B | $114.40B | $116.15B | $114.15B | $115.66B | $113.09B | $113.90B |
| Net cash (debt) | −$113.17B | −$114.21B | −$116.67B | −$117.13B | −$107.60B | −$108.91B | −$109.00B | −$106.40B | −$107.73B | −$108.95B | −$107.95B | −$108.87B |
| Working capital | −$1.78B | $1.77B | −$39.0M | −$2.60B | $4.67B | $3.81B | −$1.77B | $1.58B | −$3.74B | −$1.27B | −$1.91B | −$3.04B |
| Tangible book value | −$58.88B | $38.64B | $41.68B | −$55.08B | −$50.72B | −$53.71B | −$54.33B | −$50.26B | −$52.02B | −$49.76B | −$46.84B | −$47.05B |
| Book value per share | $51.98 | $50.70 | $52.98 | $53.68 | $53.85 | $53.38 | $52.63 | $54.88 | $53.42 | $52.20 | $53.70 | $55.09 |
| Shares outstanding | 1.08B | 1.10B | 1.12B | 1.13B | 1.13B | 1.14B | 1.17B | 1.17B | 1.17B | 1.19B | 1.21B | 1.17B |
| Current ratio | 0.92 | 1.09 | 1.00 | 0.89 | 1.21 | 1.16 | 0.91 | 1.08 | 0.84 | 0.94 | 0.91 | 0.86 |
| Quick ratio | 0.54 | 0.65 | 0.63 | 0.53 | 0.86 | 0.88 | 0.70 | 0.84 | 0.64 | 0.73 | 0.68 | 0.64 |
| Debt / equity | 2.06 | 2.11 | 2.07 | 1.99 | 1.93 | 1.98 | 1.85 | 1.81 | 1.82 | 1.86 | 1.75 | 1.76 |
| Equity / assets | 26.3% | 26.0% | 27.0% | 27.8% | 28.7% | 28.5% | 29.7% | 30.5% | 30.0% | 30.1% | 31.2% | 31.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 11, 2026); data from EODHD.
TMUS financial position
At the end of fiscal 2025 (December 31, 2025), T-Mobile had total assets of $219.2 billion (up 5.4% from a year earlier), total liabilities of $160.0 billion and shareholders' equity of $59.2 billion. It held $5.6 billion in cash and short-term investments against $122.3 billion of debt, net debt of $116.7 billion. Its current ratio was 1.00. In the latest quarter (ended June 30, 2026) total assets were $213.6 billion and equity $56.3 billion.
Related: TMUS income statement, TMUS cash flow statement, TMUS key metrics. See the TMUS stock overview for the latest quote and news.
TMUS balance sheet FAQ
What are T-Mobile's total assets?
T-Mobile reported total assets of $219.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $208.0 billion a year earlier.
How much debt does T-Mobile have?
T-Mobile had $122.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.07.
How much cash does T-Mobile have?
T-Mobile held $5.6 billion in cash and short-term investments at the end of fiscal 2025; with $122.3 billion of debt that is net debt of $116.7 billion.
What is T-Mobile's book value?
T-Mobile's shareholders' equity (book value) was $59.2 billion at the end of fiscal 2025, or $52.34 per share.
What is T-Mobile's current ratio?
T-Mobile had current assets of $24.5 billion and current liabilities of $24.5 billion, a current ratio of 1.00 (current liabilities exceed current assets).
How much goodwill does T-Mobile have?
T-Mobile carried $17.5 billion of goodwill and intangible assets, 8.0% of total assets, at the end of fiscal 2025.