T-Mobile US (TMUS) FY2019 results: revenue $45.0 billion, up 3.9% on the year
T-Mobile US, Inc. (TMUS) reported revenue of $45.0 billion for fiscal 2019, the year ended 31 December 2019, up 3.9% on the year before. Net income was $3.5 billion, up 20.1%, and diluted earnings per share $4.02. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2020.
Revenue
$45.0 billion
+3.9% on the year
FY2012FY2019
Operating margin
12.7%
12.3% a year earlier
FY2012FY2019
Net income
$3.5 billion
+20.1% on the year
FY2012FY2019
Diluted EPS
$4.02
+19.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
44,998
43,310
40,604
+3.9%
Cost of revenue
18,521
18,354
17,708
+0.9%
Gross profit
26,477
24,956
22,896
+6.1%
Gross margin
58.8%
57.6%
56.4%
Selling, general and administrative
14,139
13,161
12,259
+7.4%
Operating income
5,722
5,309
4,888
+7.8%
Operating margin
12.7%
12.3%
12.0%
Interest expense
727
835
1,111
-12.9%
Pre-tax income
4,603
3,917
3,161
+17.5%
Income tax
1,135
1,029
-1,375
+10.3%
Effective tax rate
24.7%
26.3%
-43.5%
Net income
3,468
2,888
4,536
+20.1%
Net margin
7.7%
6.7%
11.2%
Diluted EPS
$4.02
$3.36
$5.20
+19.6%
$ million except per share. 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.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
6,824
3,899
3,831
+75.0%
Capital expenditure
6,391
5,541
5,237
+15.3%
Free cash flow
433
-1,642
-1,406
Free cash flow margin
1.0%
-3.8%
-3.5%
Cash from investing
-4,125
-579
-6,745
Cash from financing
-2,374
-3,336
-1,367
Depreciation and amortisation
6,616
6,486
5,984
+2.0%
Share-based compensation
495
424
306
+16.7%
Buybacks
0.0
1,071
427
Dividends paid
0.0
0.0
55.0
Diluted shares, weighted
863m
858m
872m
+0.6%
Shares outstanding at period end
857m
850m
859m
+0.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
28,789
24,718
22,559
+16.5%
Short-term borrowings
25.0
n/a
n/a
Debt
24,969
12,965
28,319
+92.6%
Operating lease liabilities
10,539
0.0
n/a
Finance lease liabilities
1,346
0.0
n/a
Other liabilities
21,253
34,785
19,685
-38.9%
Total liabilities and equity
86,921
72,468
70,563
+19.9%
Fixed assets
21,984
23,359
22,196
-5.9%
Goodwill
1,930
1,901
1,683
+1.5%
Intangible assets
115
198
217
-41.9%
Cash and equivalents
1,528
1,203
1,219
+27.0%
Receivables
1,888
1,769
1,915
+6.7%
Inventory
964
1,084
1,566
-11.1%
Other assets
58,512
42,954
41,767
+36.2%
Total assets
86,921
72,468
70,563
+19.9%
10-K for the year ended 31 December 2019, filed 6 February 2020: the filing.