T-Mobile US (TMUS) FY2025 10-K Annual Report
T-Mobile US (TMUS) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 11, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
T-Mobile US FY2025 10-K Analysis
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
T-Mobile US FY2025 Key Financial MetricsXBRL
Revenue
$88.3B
▲ +8.5% YoY
Net Income
$11.0B
▼ -3.1% YoY
Operating Margin
20.7%
▼ -143bp YoY
Net Margin
12.4%
▼ -148bp YoY
ROE
18.6%
▲ +20bp YoY
Total Assets
$219.2B
▲ +5.4% YoY
EPS (Diluted)
$9.72
▲ +0.6% YoY
Operating Cash Flow
$27.9B
▲ +25.4% YoY
Source: XBRL data from T-Mobile US FY2025 10-K filing on SEC EDGAR. All figures in USD.
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