T-Mobile US (TMUS) FY2020 results: revenue $68.4 billion, up 52.0% on the year
T-Mobile US, Inc. (TMUS) reported revenue of $68.4 billion for fiscal 2020, the year ended 31 December 2020, up 52.0% on the year before. Net income was $3.1 billion, down 11.6%, and diluted earnings per share $2.65. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$68.4 billion
+52.0% on the year
FY2013FY2020
Operating margin
9.7%
12.7% a year earlier
FY2013FY2020
Net income
$3.1 billion
-11.6% on the year
FY2013FY2020
Diluted EPS
$2.65
-34.1% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
68,397
44,998
43,310
+52.0%
Cost of revenue
n/a
18,521
18,354
Gross profit
n/a
26,477
24,956
Gross margin
n/a
58.8%
57.6%
Selling, general and administrative
18,926
14,139
13,161
+33.9%
Operating income
6,636
5,722
5,309
+16.0%
Operating margin
9.7%
12.7%
12.3%
Interest expense
2,483
727
835
+241.5%
Pre-tax income
3,530
4,603
3,917
-23.3%
Income tax
786
1,135
1,029
-30.7%
Effective tax rate
22.3%
24.7%
26.3%
Net income
3,064
3,468
2,888
-11.6%
Net margin
4.5%
7.7%
6.7%
Diluted EPS
$2.65
$4.02
$3.36
-34.1%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
8,640
6,824
3,899
+26.6%
Capital expenditure
11,034
6,391
5,541
+72.6%
Free cash flow
-2,394
433
-1,642
Free cash flow margin
-3.5%
1.0%
-3.8%
Cash from investing
-12,715
-4,125
-579
Cash from financing
13,010
-2,374
-3,336
Depreciation and amortisation
14,151
6,616
6,486
+113.9%
Share-based compensation
694
495
424
+40.2%
Buybacks
19,536
0.0
1,071
Dividends paid
0.0
0.0
0.0
Diluted shares, weighted
1,155m
863m
858m
+33.7%
Shares outstanding at period end
1,242m
857m
850m
+44.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
65,344
28,789
24,718
+127.0%
Short-term borrowings
4,579
25.0
n/a
+18,216.0%
Debt
71,125
24,969
12,965
+184.9%
Operating lease liabilities
26,719
10,539
0.0
+153.5%
Finance lease liabilities
1,444
1,346
0.0
+7.3%
Other liabilities
30,951
21,253
34,785
+45.6%
Total liabilities and equity
200,162
86,921
72,468
+130.3%
Fixed assets
41,175
21,984
23,359
+87.3%
Goodwill
11,117
1,930
1,901
+476.0%
Intangible assets
5,298
115
198
+4,507.0%
Cash and equivalents
10,385
1,528
1,203
+579.6%
Receivables
4,254
1,888
1,769
+125.3%
Inventory
2,527
964
1,084
+162.1%
Other assets
125,406
58,512
42,954
+114.3%
Total assets
200,162
86,921
72,468
+130.3%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.