Executive Strategy Brief

T-Mobile US (TMUS) — Financial Dashboard

Latest Quarter: Q4 2025 Stock Period: 3-Year Lens: Network Domain · 5G · Broadband · AI/Software Generated: April 16, 2026 17:48 Sources: T-Mobile US IR · SEC EDGAR · Yahoo Finance
Q4 2025 Key Performance Indicators
Latest quarter vs Q4 2024 (1 year back). All values from T-Mobile IR press releases.
Service Revenue
$18.7B
▲ 10.7% vs prior year Q
Core Adj. EBITDA
$8.4B
▲ 6.3% vs prior year Q
Net Income
$2.1B
▼ 30.0% vs prior year Q
Adj. Free Cash Flow
$4.2B
▲ 2.4% vs prior year Q
CapEx
$2.5B
▲ 13.6% vs prior year Q
Phone Net Adds
962K
▲ 6.5% vs prior year Q
5G Broadband Cust.
9.4M
▲ 46.9% vs prior year Q
Postpaid Churn
1.02%
▲ 10.9% vs prior year Q
Net Income note: Q4 2025 net income ($2.1B) declined vs Q4 2024 ($3.0B); FY2025 full-year $11.0B vs $11.3B (largely flat). EPS grew slightly YoY due to share buybacks. Q1 2026 earnings call: April 28, 2026.
Service Revenue & EBITDA Margin
Quarterly service revenue trend Q4 2023 to Q4 2025. Bars with * are Q2/Q3 2025 estimates.
* Estimated quarters (Q2'25, Q3'25): Derived from FY2025 reported totals minus Q1+Q4 reported actuals. Labeled with lighter shading.
Source: T-Mobile IR quarterly earnings press releases
Annual Financial Performance
FY2022-FY2025 actuals. EBITDA margin annotated above bars. FY2026 EBITDA guidance shown for context.
FY2022 net income impacted by Sprint merger integration costs.
FCF-CapEx line shows residual cash available after network investment.
Network Domain — CapEx, 5G Broadband & AI Initiatives
Primary lens: Network investment trends, 5G deployment, fixed wireless growth, and network AI/software strategy.
CapEx peaked at $14B in FY2022 (Sprint integration). Normalized to $8.8B in FY2024.
9.4M total broadband (8.5M on 5G broadband) as of Q4 2025. Target: 12M by 2028.
Network AI, Software & Technology Initiatives
🧠
AI-RAN Innovation Center
Partners: NVIDIA · Ericsson · Nokia
  • Industry-first AI + RAN integration lab
  • Brings AI inference to the Radio Access Network
  • Targets real-time network optimization via AI
  • Accelerates 5G Advanced performance gains
🤝
IntentCX — AI Customer Platform
Partner: OpenAI
  • Predictive AI platform for customer engagement
  • Target: 75% reduction in inbound care contacts
  • Powered by OpenAI LLMs on T-Mobile network data
  • Redefines Care operations across enterprise segment
📡
Customer Driven Coverage
AI-driven network site prioritization
  • AI algorithmic model ranks tens of thousands of pending sites
  • Prioritizes builds based on specific customer demand signals
  • Enables higher ROI per network dollar spent
  • Part of $9.5B FY2025 CapEx investment strategy
🌐
5G Advanced — Standalone Core
Only US carrier with nationwide SA 5G core
  • US-first 5G Advanced broad deployment
  • Record 6.3 Gbps downlink speeds achieved
  • Voice over New Radio (VoNR) in production
  • 4-carrier aggregation + Massive MIMO rollout
🛰️
T-Satellite (Direct-to-Device)
Satellite network on modern smartphones
  • Only US satellite service on most modern smartphones
  • Over 1 million messages delivered
  • Hundreds of thousands of active customers
  • Eliminates dead zones without new hardware
🏠
Fiber & Fixed Wireless (5G Home)
Fastest-growing broadband in the US
  • 9.4M total broadband customers (Q4 2025)
  • 8.5M on 5G broadband specifically
  • Target: 12M broadband by 2028
  • Fiber: 12-15M households passed by 2030 (~20% IRR)
5G Coverage & Fiber Rollout Plans
5G network reach by technology layer and broadband/fiber expansion roadmap through 2030.
Extended Range 5G: 325M (99%) · Ultra Capacity 5G: 300M (91%) · 5G Advanced: US-only nationwide SA core · mmWave: dense urban markets
Extended Range 5G
325M
99% US pop · Low-band 600 MHz
Ultra Capacity 5G
300M
91% US pop · Mid-band 2.5 GHz
5G Advanced (SA Core)
Only US
Nation's only nationwide SA 5G core
Peak 5G Speed
6.3 Gbps
Record downlink · 4-carrier aggregation
5G Cities Covered
3,888
Including rural via US Cellular (2025)
T-Satellite
Live
Direct-to-device · No dead zones
Fiber launch: Jun 5, 2025. Lumos acquired $1.45B (Apr 2025). Metronet pending (~2M+ homes, 19 states). Bars with lighter shade = projected.
Subscriber Metrics
Postpaid phone net additions and churn. Q4 2025: 962K net adds (+7% YoY). FY2025 total: 3.3M phone net adds (industry best).
Green = churn ≤0.90%; Yellow = 0.90-0.95%; Red = >0.95%. FY2025 full-year churn: 0.93%.
Capital Allocation & Leverage
FCF vs network CapEx vs shareholder returns. FY2025: $18B FCF, $10B CapEx.
Program-to-date (Q3 2022 - Q4 2024): $31.4B returned. FY2026E FCF guidance: $18.0-$18.7B.
Stock Performance — 3-Year vs Peers
TMUS vs AT&T (T), Verizon (VZ), and iShares US Telecom ETF (IYZ). Normalized to 100 at start.
Live data via Yahoo Finance. Q1 2026 earnings: April 28, 2026.
FY2026 Guidance & Strategic Outlook
From Q4 2025 earnings release. Q1 2026 results due April 28, 2026.
Core Adj. EBITDA
$37.0-$37.5B
+10% YoY
Adj. Free Cash Flow
$18.0-$18.7B
+3% YoY
CapEx
~$10.0B
5G Advanced ramp
Postpaid Net Adds
TBD (2026)
Based on Q1 2026 guidance
2027 Long-Range Targets
  • Service Revenue: $75-76B (~5% CAGR from FY2023)
  • Core Adj. EBITDA: $38-39B (~7% CAGR)
  • Adj. Free Cash Flow: $18-19B
  • Stockholder returns through 2027: ~$50B program
Competitive Network Position
  • J.D. Power network quality sweep: 5 of 6 US regions (FY2025)
  • Ookla Best Mobile Network: back-to-back years
  • Opensignal Best Overall Experience: 4 consecutive years
  • Only US carrier with nationwide standalone 5G core