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Telephone & Data Systems Inc. (TDS)

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Telephone & Data Systems Inc. (TDS) reported revenue of $309 million for Q2 FY2026, the quarter ended 30 June 2026, up 3.6% on the same quarter a year earlier. Net income was $298 million, up 2478.6% on the year, and diluted earnings per share $2.42. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2026.

Revenue$309 millionup 3.6%
Net income$298 millionup 2478.6%
Diluted EPS$2.42
QuarterQ2 FY2026ended 30 June 2026

Telephone & Data Systems (TDS) in brief

Telephone & Data Systems (TDS) reported revenue of $1.2 billion for fiscal 2025, the year ended 31 December 2025, down 5.3% on the year before.
Read moreNet loss was $6 million and the diluted loss per share $0.65. Revenue was $1.3 billion in fiscal 2024, $1.4 billion in fiscal 2023, $5.4 billion in fiscal 2022 and $5.3 billion in fiscal 2021. Net income in the same years was a loss of $28 million, a loss of $500 million, $62 million and $156 million. Revenue fell 25.1% a year, compounded, over the five years to fiscal 2025. Telephone & Data Systems declared $0.16 a share in dividends over the last four quarters and had 115 million shares outstanding at the latest filed count. At 30 June 2026 it carried $671 million of debt and $2.2 billion of cash. At the close of 9 October 2026 the market cap of Telephone & Data Systems was $3.9 billion.

Ratios

From the filings

ROEn/a
ROCEn/a
Operating marginn/a
Net marginn/a
FCF marginn/a
Interest covern/a
Debt to equity0.13
Cash conversionn/a
Share count, 1 year0.1%
Sales CAGR, 3 years-39.0%
Profit CAGR, 3 yearsn/a
EPS, TTMn/a

At the close of 9 October 2026

Price$33.53
Market cap$3.9 billion
Stock P/En/a
Price to book0.75
EV / EBITDAn/a
Dividend yield0.5%
Market cap / salesn/a
52-week high$47.59
52-week low$32.98
Price, 1 year-15.3%
Price CAGR, 3 years23.4%
Price CAGR, 5 years11.6%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the one borrowings figure Telephone & Data Systems Inc. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.
TDSgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on TDS

Filings22 in twelve months: 12 current reports (8-K), about 4 other events; 4 results of operations; 2 acquisition or disposition completed; 2 officer or director change; 1 shareholder vote
Planned insider sales2 Form 144 notices in twelve months, $3.1 million; latest 11 September 2026
Options tapeput/call 0.79 by open interest at the 9 October 2026 close; the straddle prices a 7.5% move to 16 October 2026
13F holders8 of the followed funds hold it; largest Third Point; 6 Schedule 13D or 13G filings in twelve months
Insider trading4 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest4.8 million shares short, 2.71 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024 †Q4 FY2024 *Q1 FY2025 †Q2 FY2025 †Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,2781,3121,2621,2383271,240290299309n/a309309
Cost of revenue567607531523155565124122129n/a124129
Gross profit711705731715173675167177180n/a185180
Gross margin56%54%58%58%53%54%57%59%58%n/a60%58%
SG&A432446424426117449116109106n/a103111
Operating income48.0-52467.039.0-15037.0-33.9-12.3-68.0n/a144373
Operating margin4%-40%5%3%-46%3%-12%-4%-22%n/a46%121%
Interest expense62.067.057.073.032.773.023.929.247.3n/a5.311.4
Pre-tax income31.0-54858.013.0-13013.0-12.310.06.0n/a234448
Tax rate87%n/a34%46%n/a38%n/a-42%-1211%n/a23%24%
Net income0.0-50629.03.0-65.76.07.511.6-81.8n/a145298
Net margin0%-39%2%0%-20%0%3%4%-26%n/a47%96%
Diluted EPS-$0.16-$4.64$0.10-$0.13-$0.73-$0.10-$0.09-$0.05-$0.84n/a$1.09$2.42
Operating cash flow409219224402307212186421-36.7n/a67.555.6
Capital expenditure27730523521620422964.4157n/an/a149169
Free cash flow132-86.0-11.0186103-17.0121264n/an/a-81.6-113
Buybacks0.00.00.00.00.00.0n/an/an/an/an/an/a
Shares outstanding113m113m113m113m113m114m114m115m116m114m114m115m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A fourth quarter left blank is one the arithmetic cannot give yet: the annual report changed the basis of the year (a business sold or spun off, a line regrouped), so the year less the three quarters as first filed would not be a quarter of anything. It fills in once the three quarters have been refiled on the new basis. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Revenue5,0095,2105,1555,0445,1095,1765,2255,3295,4131,3551,2971,228n/a
Cost of revenue2,5112,4152,4292,3592,3362,3372,3542,4722,565689590503n/a
Gross profit2,4982,7952,7262,6852,7732,8392,8712,8572,848666707725n/a
Gross margin49.9%53.6%52.9%53.2%54.3%54.8%54.9%53.6%52.6%49.2%54.5%59.0%n/a
Selling, general and administrative1,8661,7801,7591,6861,6941,7171,6811,6771,768489487435n/a
Operating income-181431108-108205179259261122-683-191-97.4n/a
Operating margin-3.6%8.3%2.1%-2.1%4.0%3.5%5.0%4.9%2.3%-50.4%-14.7%-7.9%n/a
Interest expense11114217017017216516823217462.2109113n/a
Pre-tax income-15243592.0-122221211288221125-563-10389.0n/a
Income tax-5.017240.0-27946.064.019.033.053.0-15.8-22.1-62.2n/a
Effective tax raten/a39.6%43.5%n/a20.8%30.3%6.6%14.9%42.4%n/an/a-69.9%n/a
Net income-13621943.015313512122615662.0-500-27.7-6.2n/a
Net margin-2.7%4.2%0.8%3.0%2.6%2.3%4.3%2.9%1.1%-36.9%-2.1%-0.5%n/a
Diluted EPS-$1.26$1.98$0.39$1.37$1.17$1.03$1.93$1.00-$0.07-$5.06-$0.85-$0.65n/a
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Service1,1251,1241,04485.0%
Site Rental10010315512.6%
Equipment and product sales13070.529.72.4%
ServiceSite RentalEquipment and product sales
1,355FY20231,297FY20241,228FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Operating cash flow3957907827761,0171,0161,5321,1031,1551,1421,145590n/a
Capital expenditure7998016366857769571,3381,1311,161643365391n/a
Free cash flow-404-10.614691.024159.0194-28.0-6.0499780199n/a
Free cash flow margin-8.1%-0.2%2.8%1.8%4.7%1.1%3.7%-0.5%-0.1%36.8%60.1%16.2%n/a
Cash from investingn/a-743-808-981-680-1,249-1,511-2,462-1,783-1,327-7542,144n/a
Cash from financingn/a461-59.0-77.0-32.0-22095732161356.0-277-2,347n/a
Depreciation and amortisation798810820817839890862851882270285303n/a
Share-based compensation36.040.042.046.054.059.053.049.042.019.618.327.2n/a
Buybacks39.00.03.00.00.00.014.08.040.05.80.0108n/a
Dividend per share$0.54$0.56$0.59$0.62$0.64$0.66$0.68$0.70$0.72$0.74$0.31$0.16n/a
Diluted shares, weighted108m110m111m112m114m116m115m116m114m113m114m119m116m
Shares outstanding at period end108m109m110m111m114m115m114m115m112m113m114m114m115m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity3,9264,1264,1444,2694,5604,6534,8045,9275,8495,2025,0914,8025,171
Non-controlling interest528578605623733751789807754794777466232
Redeemable equity3.04.25.05.04.05.06.06.06.06.06.01.2n/a
Debt1,9412,4402,4332,4372,4182,3163,4242,9283,7314,0802,416823671
Operating lease liabilitiesn/an/an/an/a0.0931940960908890541550541
Other liabilities2,4562,2752,2591,9612,0682,1252,5622,8653,302n/a4,8511,7571,769
Total liabilities and equity8,8549,4229,4469,2959,78310,78112,52513,49314,5508,13513,6828,3988,383
Owned
Fixed assets3,8463,7643,5553,4243,3463,5273,9724,3614,7605,0622,8762,9653,123
Goodwill7717667665095095475475475470.0n/an/an/a
Intangible assets64.547.033.0279253239213197204183161132117
Investments2,856n/a0.010017.00.03.00.0n/an/an/an/an/a
Cash and equivalents4729859006199214651,4293673602363647662,194
Receivables5497057538619921,0051,0041,0581,06999257.168.763.3
Inventory2741581511451501691541782682084.14.13.8
Other assets21.92,9973,2883,3583,5954,8295,2036,7857,3421,45410,2204,4622,882
Total assets8,8549,4229,4469,2959,78310,78112,52513,49314,5508,13513,6828,3988,383
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded-13.5%-25.1%-39.0%n/a
Profit growth, compoundedn/an/an/an/a
Return on equity, average0.8%-1.3%-3.4%-0.1%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Telephone & Data Systems' revenue in fiscal 2025?

Telephone & Data Systems (TDS) reported revenue of $1.2 billion for fiscal 2025, the year ended 31 December 2025, down 5.3% on the year before.

How much did Telephone & Data Systems earn in fiscal 2025?

Net loss was $6 million for fiscal 2025, and the diluted loss per share $0.65.

What is Telephone & Data Systems' market cap?

The market cap of Telephone & Data Systems was $3.9 billion at the close of 9 October 2026.

Does Telephone & Data Systems pay a dividend?

Yes. Telephone & Data Systems declared $0.16 a share in dividends over the four quarters to 30 June 2026.

How much debt does Telephone & Data Systems have?

At 30 June 2026 Telephone & Data Systems carried $671 million of debt and $2.2 billion of cash.

Peers: Communication

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Verizon Communications Inc. VZ$173.0 billion10.8515.4%20.5%1.4%1.366.6%
AT&T Inc. T$151.9 billion7.3417.1%20.1%2.6%1.065.0%
Lumen Technologies, Inc. LUMN$5.4 billionn/an/a1.7%-7.7%n/a0.0%
Iridium Communications Inc. IRDM$5.0 billion53.9519.7%23.8%3.1%3.731.3%
Nexstar Media Group, Inc. NXST$5.0 billion30.968.3%17.8%10.5%5.184.6%
Versant Media Group, Inc. VSNT$4.3 billion3.7714.4%25.5%n/a0.36n/a
Telephone & Data Systems Inc. TDS$3.9 billionn/an/an/an/a0.130.5%
Adeia Inc. ADEA$2.6 billion22.1325.7%41.6%24.3%0.810.8%
Calix, Inc. CALX$2.3 billion50.317.2%5.5%27.8%0.000.0%
Ziff Davis, Inc. ZD$2.0 billion3.2028.8%5.5%-8.5%0.390.0%
Uniti Group Inc. UNIT$1.6 billion2.54666.9%3.2%n/a65.860.0%
Shenandoah Telecommunications Co. SHEN$576 millionn/a-4.6%-5.3%5.0%0.851.1%
All 26 in Communication
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Verizon Communications Inc. VZ$173.0 billion10.8515.4%20.5%1.4%1.366.6%
T-Mobile US, Inc. TMUS$159.7 billion15.5618.8%19.8%9.7%1.502.6%
AT&T Inc. T$151.9 billion7.3417.1%20.1%2.6%1.065.0%
Spotify Technology S.A. SPOT *$108.9 billion44.7226.6%12.8%9.7%0.18n/a
Warner Bros. Discovery, Inc. WBD$77.6 billionn/a-9.6%-3.5%-6.1%0.98n/a
Comcast Corp. CMCSA$73.7 billion6.6812.5%14.7%0.6%0.946.4%
Vodafone Group Public Limited Company VOD *$35.9 billionn/a-0.8%7.0%8.0%1.043.5%
Chunghwa Telecom Co. Ltd. CHT *$35.7 billion29.5610.1%20.6%2.7%0.073.5%
EchoStar Corp. ECHO$33.4 billionn/a-40.1%-112.7%-5.2%1.13n/a
Fox Corp. FOXA$27.4 billion16.2614.5%n/a5.1%0.57n/a
Fox Corp. FOX$24.5 billion14.5614.5%n/a5.1%0.57n/a
Roku, Inc. ROKU$22.6 billion65.3212.6%5.2%18.5%0.00n/a
Tencent Music Entertainment Group TME *$13.2 billionn/a13.8%40.6%15.8%0.042.1%
Charter Communications, Inc. CHTR$12.5 billion2.6829.0%23.3%-1.5%5.54n/a
Viasat Inc. VSAT$9.9 billionn/a-0.6%2.4%1.3%1.25n/a
Lumen Technologies, Inc. LUMN$5.4 billionn/an/a1.7%-7.7%n/a0.0%
Iridium Communications Inc. IRDM$5.0 billion53.9519.7%23.8%3.1%3.731.3%
Nexstar Media Group, Inc. NXST$5.0 billion30.968.3%17.8%10.5%5.184.6%
Versant Media Group, Inc. VSNT$4.3 billion3.7714.4%25.5%n/a0.36n/a
Telephone & Data Systems Inc. TDS$3.9 billionn/an/an/an/a0.130.5%
Adeia Inc. ADEA$2.6 billion22.1325.7%41.6%24.3%0.810.8%
Calix, Inc. CALX$2.3 billion50.317.2%5.5%27.8%0.000.0%
Ziff Davis, Inc. ZD$2.0 billion3.2028.8%5.5%-8.5%0.390.0%
Uniti Group Inc. UNIT$1.6 billion2.54666.9%3.2%n/a65.860.0%
Shenandoah Telecommunications Co. SHEN$576 millionn/a-4.6%-5.3%5.0%0.851.1%
Cogent Communications Holdings, Inc. CCOI$437 millionn/an/a8.0%-4.5%n/a35.7%
5 companies share its SEC industry code (Telephone Communications (No Radiotelephone)); the rest are the names nearest in size in its wider industry, Communication, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20267 August 2026EDGAR
10-Q31 March 20268 May 2026EDGAR
10-K31 December 202524 February 2026EDGAR
10-Q30 September 20257 November 2025EDGAR
10-Q30 June 202511 August 2025EDGAR
10-Q31 March 20252 May 2025EDGAR
10-K31 December 202421 February 2025EDGAR
10-Q30 September 20241 November 2024EDGAR
10-Q/A30 June 20245 August 2024EDGAR
10-Q30 June 20242 August 2024EDGAR

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