What is the primary revenue source for T-Mobile US (TMUS)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze TMUS's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out T-Mobile US's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How T-Mobile US Makes Money: TMUS Revenue Breakdown (2025)

Operations

Where did the money come from, and where was it spent?

Steady

Revenue and operating profit grew together, indicating healthy core operations.

The largest revenue segment accounts for 66.52% of revenue, indicating concentration.

Revenue: USD 63.98B
Largest revenue segment share (Branded Postpaid Revenue): 66.52%
Selling, general and administrative: USD 16.90B
Cost of revenue: USD 8.19B

View calculation evidence

YoY periods: 9M 2025 compared with 9M 2024

Source metrics

Largest revenue segment share (Branded Postpaid Revenue)Branded Postpaid Revenue · segment_value / revenue * 100
RevenueTotal revenues · RevenueFromContractWithCustomerExcludingAssessedTax
Cost of revenueCost of services, exclusive of depreciation and amortization shown separately below · CostOfGoodsAndServicesSold
Selling, general and administrativeSelling, general and administrative · SellingGeneralAndAdministrativeExpense

Assets

Where is the money tied up, and how is the company financed?

Watch

Current assets do not cover near-term liabilities, indicating short-term funding pressure.

Property, plant and equipment: USD 38.72B
Goodwill: USD 13.69B
Accounts receivable: USD 5.08B
Shareholder equity: USD 60.48B

View calculation evidence

YoY periods: 9M 2025 compared with 9M 2024

Source metrics

Shareholder equityTotal stockholders' equity · StockholdersEquity
Accounts receivableAccounts receivable, net of allowance for credit losses of $206 and $176 · AccountsReceivableNetCurrent
GoodwillGoodwill · Goodwill
Property, plant and equipmentProperty and equipment, net · PropertyPlantAndEquipmentNet

Some conclusions lack complete source metrics and should be interpreted cautiously.

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 239.58% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 8.89B
Operating cash flow: USD 21.30B
Cash conversion: 239.58%
Free cash flow: USD 13.81B

View calculation evidence

YoY periods: 9M 2025 compared with 9M 2024

Source metrics

Net incomeNet income · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Steady

Dividends and net buybacks are covered by free cash flow, so cash genuinely reached shareholders.

Cash dividends: USD 2.99B
Share repurchases: USD 7.53B
Net shareholder return: USD 10.51B

View calculation evidence

YoY periods: 9M 2025 compared with 9M 2024

Source metrics

Cash dividendsDividends on common stock · PaymentsOfDividendsCommonStock · abs(node_value)
Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?