T-Mobile US, Inc. (TMUS) Income Statement
TMUS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTMUS revenue and net income
Where TMUS's revenue goes
2025Each bar shows an amount and its share of revenue. TMUS kept 12.4% of revenue as net income.
TMUS profit margins
TMUS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +8.5% | +3.5% | +5.2% | +10.5% |
| Gross profit | −18.7% | −1.0% | +0.9% | +9.1% |
| Operating income | +4.1% | +42.0% | +23.1% | +22.4% |
| Net income | −3.1% | +61.9% | +29.1% | +31.1% |
| EPS (diluted) | +4.6% | +37.2% | +23.4% | +28.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TMUS quarterly EPS vs estimates
T-Mobile beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 28, 2026 (estimate $2.86).
TMUS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $88.31B | $81.40B | $78.56B | $79.57B | $80.12B | $68.40B | $45.00B | $43.31B | $40.60B | $37.49B |
| Cost of revenue | $46.24B | $29.65B | $30.19B | $36.21B | $36.60B | $28.27B | $18.52B | $18.35B | $17.71B | $16.55B |
| Gross profit | $42.07B | $51.75B | $48.37B | $43.37B | $43.51B | $40.13B | $26.48B | $24.96B | $22.90B | $20.94B |
| Research & development | $278.0M | — | — | — | — | $200.0M | — | $0 | $0 | $0 |
| Sales, general & admin | $22.96B | $20.82B | $20.58B | $21.61B | $20.24B | $18.93B | $14.14B | $14.86B | $14.06B | $13.08B |
| Total operating expenses | $23.32B | $33.74B | $34.10B | $36.82B | $36.62B | $33.49B | $20.75B | $19.65B | $18.01B | $16.89B |
| Operating income | $18.74B | $18.01B | $14.27B | $6.54B | $6.89B | $6.64B | $5.72B | $5.31B | $4.89B | $4.05B |
| Interest income | — | — | — | — | $20.0M | $29.0M | $24.0M | $19.0M | $17.0M | $261.0M |
| Interest expense | $3.52B | $3.41B | $3.33B | $3.36B | $3.34B | $2.70B | $1.14B | $1.36B | $1.67B | $1.73B |
| Income before taxes | $14.28B | $14.71B | $11.00B | $3.15B | $3.35B | $3.53B | $4.60B | $3.92B | $3.16B | $2.33B |
| Income taxes | $3.29B | $3.37B | $2.68B | $556.0M | $327.0M | $786.0M | $1.14B | $1.03B | −$1.38B | $867.0M |
| Net income | $10.99B | $11.34B | $8.32B | $2.59B | $3.02B | $3.06B | $3.47B | $2.89B | $4.54B | $1.46B |
| EBITDA | $31.31B | $31.04B | $27.15B | $20.16B | $23.08B | $20.38B | $12.35B | $11.76B | $10.82B | $10.30B |
| EPS (diluted) | $10.14 | $9.69 | $7.46 | $3.93 | $2.57 | $3.54 | $4.03 | $3.38 | $2.26 | $1.66 |
| Gross margin | 47.6% | 63.6% | 61.6% | 54.5% | 54.3% | 58.7% | 58.8% | 57.6% | 56.4% | 55.9% |
| Operating margin | 21.2% | 22.1% | 18.2% | 8.2% | 8.6% | 9.7% | 12.7% | 12.3% | 12.0% | 10.8% |
| Net margin | 12.4% | 13.9% | 10.6% | 3.3% | 3.8% | 4.5% | 7.7% | 6.7% | 11.2% | 3.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.79B | $23.11B | $24.33B | $21.96B | $21.13B | $20.89B | $21.87B | $20.16B | $19.77B | $19.59B | $20.48B | $19.25B |
| Cost of revenue | $8.03B | $8.83B | $14.00B | $11.13B | $7.38B | $7.40B | $8.79B | $7.03B | $6.75B | $7.09B | $8.40B | $7.13B |
| Gross profit | $14.76B | $14.28B | $10.34B | $10.82B | $13.76B | $13.49B | $13.09B | $13.13B | $13.02B | $12.51B | $12.08B | $12.12B |
| Research & development | — | — | $278.0M | — | — | — | — | — | — | — | — | — |
| Sales, general & admin | $5.83B | $5.97B | $6.17B | $6.01B | $5.40B | $5.49B | $8.45B | $5.19B | $5.14B | $5.14B | $5.28B | $5.33B |
| Total operating expenses | $9.27B | $9.78B | $6.47B | $5.96B | $8.54B | $8.69B | $8.50B | $8.34B | $8.39B | $8.51B | $8.60B | $8.52B |
| Operating income | $5.49B | $4.50B | $3.86B | $4.86B | $5.21B | $4.80B | $4.59B | $4.80B | $4.63B | $4.00B | $3.48B | $3.60B |
| Interest expense | $1.05B | $1.03B | $947.0M | $860.0M | $922.0M | $916.0M | $841.0M | $836.0M | $854.0M | $880.0M | $849.0M | $790.0M |
| Income before taxes | $4.33B | $3.33B | $2.63B | $3.53B | $4.28B | $3.84B | $3.84B | $3.97B | $3.77B | $3.14B | $2.64B | $2.85B |
| Income taxes | $1.09B | $830.0M | $532.0M | $814.0M | $1.06B | $885.0M | $858.0M | $908.0M | $843.0M | $764.0M | $629.0M | $705.0M |
| Net income | $3.24B | $2.50B | $2.10B | $2.71B | $3.22B | $2.95B | $2.98B | $3.06B | $2.92B | $2.37B | $2.01B | $2.14B |
| EBITDA | $8.82B | $8.18B | $7.40B | $7.86B | $8.35B | $7.95B | $7.83B | $7.95B | $7.87B | $7.39B | $6.81B | $6.82B |
| EPS (diluted) | $3.13 | $2.27 | $1.88 | $2.77 | $2.85 | $2.64 | $2.59 | $2.61 | $2.49 | $2.00 | $1.83 | $2.00 |
| Gross margin | 64.8% | 61.8% | 42.5% | 49.3% | 65.1% | 64.6% | 59.8% | 65.1% | 65.9% | 63.8% | 59.0% | 62.9% |
| Operating margin | 24.1% | 19.5% | 15.9% | 22.1% | 24.7% | 23.0% | 21.0% | 23.8% | 23.4% | 20.4% | 17.0% | 18.7% |
| Net margin | 14.2% | 10.8% | 8.6% | 12.4% | 15.2% | 14.1% | 13.6% | 15.2% | 14.8% | 12.1% | 9.8% | 11.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TMUS's financial statements (latest annual report filed February 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TMUS financial results
In fiscal year 2025 (ended December 31, 2025), T-Mobile reported revenue of $88.3 billion, up 8.5% from the year before. It had net income of $11.0 billion (down 3.1%), a net profit margin of 12.4%. Diluted earnings per share came to $10.14. Over five years revenue grew at an average rate of 5.2% a year.
See the TMUS stock overview for the latest quote and news, or the TMUS chart for price history and technical indicators.
TMUS income statement FAQ
What is T-Mobile's annual revenue?
T-Mobile reported total revenue of $88.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 8.5% from $81.4 billion the previous year.
Is T-Mobile profitable?
Yes. T-Mobile reported net income of $11.0 billion in fiscal 2025, a net profit margin of 12.4%; its operating margin was 21.2%.
What is T-Mobile's gross margin?
T-Mobile's gross margin was 47.6% in fiscal 2025: for every $100 of revenue, T-Mobile kept $48 after the direct cost of its products and services.
How much does T-Mobile spend on research and development?
T-Mobile spent $278.0 million on research and development in fiscal 2025, 0.3% of revenue.
How fast is T-Mobile growing?
Revenue grew 5.2% a year on average over the last five fiscal years, from $68.4 billion to $88.3 billion.
What are T-Mobile's earnings per share?
T-Mobile earned $10.14 per diluted share in fiscal 2025, compared with $9.69 a year earlier.
When will T-Mobile report its next earnings?
T-Mobile is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 after the market closes.
When does T-Mobile's fiscal year end?
T-Mobile's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 11, 2026.