Short answer
T-Mobile US (TMUS) filed its fiscal 2025 10-K annual report with the SEC on Feb 11, 2026. It reported revenue of $88.3B (+8.5% year over year) and net income of $11.0B.
- Top risk flagged: FCC investigation and class action lawsuits following August 2021 and January 2023 cyberattacks causing significant costs
FY2025 key financial metrics · XBRL
- Revenue
- $88.3B
- +8.5% YoY
- Net income
- $11.0B
- −3.1% YoY
- Operating margin
- 20.7%
- −1.4 pp YoY
- EPS (diluted)
- $9.72
- +0.6% YoY
- ROE
- 18.6%
- +0.2 pp YoY
- Operating cash flow
- $27.9B
- +25.4% YoY
Source: XBRL data from the T-Mobile US (TMUS) FY2025 10-K on SEC EDGAR. USD.
T-Mobile US FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Nationwide wireless communications and broadband services with focus on customer experience and network quality
- New product emphasis: 5G broadband fixed wireless product launched, leveraging advanced multilayer spectrum portfolio
- Strategic shift: Transformation into AI-enabled, data-informed, digital-first organization with personalized self-service and immersive customer experience stores
- Quantitative metric: 142.4 million postpaid and prepaid customers as of Dec 31, 2025
- Noteworthy fact: Comprehensive T-Life app enables full customer transactions anytime, enhancing digital engagement and operational efficiency
Management Discussion & Analysis
- Revenue $85.5B, up $6.9B (8%) YoY, driven by postpaid (+$5.6B, 11%) and equipment revenues (+$1.7B, 12%), wholesale down $562M (-16%)
- Operating income $15.1B, up $269M (1%), net income $11.0B, down $347M (-3%), net income margin 15% vs 17%
- Best segment: Postpaid customers 116.4M, +12.3M (12%), with ARPA $148.97, +4%; Worst segment: Wholesale revenues down 16% ($562M)
- Adjusted EBITDA $33.9B, up $2.1B (7%), core adjusted EBITDA margin steady at 48%; Capex and cash flows not detailed in excerpt
- Management shift to focus on high-value accounts from Q1 2026; risks include integration costs, higher churn (postpaid churn 0.93%, up 7 bps), and network restructuring expenses
Risk Factors
- FCC investigation and class action lawsuits following August 2021 and January 2023 cyberattacks causing significant costs
- Exposure to Ukraine-Russia and Israel-Hamas conflicts impacting supply chain and consumer demand due to geopolitical instability
- Integration risks and potential service disruption from August 1, 2025 UScellular Wireless Business acquisition over next two years
- Intense competition from AT&T, Verizon, Comcast, Charter, and satellite providers threatening market share in wireless and broadband
- CEO transition in November 2025 and enterprise-wide restructuring risk disrupting leadership continuity and talent retention
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