T-Mobile US (TMUS) Q4 FY2025 earnings: revenue $24.3 billion, up 11.3% on the year

T-Mobile US, Inc. (TMUS) reported revenue of $24.3 billion for Q4 FY2025, the quarter ended 31 December 2025, up 11.3% on the same quarter a year earlier. Net income was $2.1 billion, down 29.5% on the year, and diluted earnings per share $1.88. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2026.

Revenue

$24.3 billion

+11.3% on the year · +10.8% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

15.4%

21.0% a year earlier

Q1 FY2024Q4 FY2025

Net income

$2.1 billion

-29.5% on the year · -22.5% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$1.88

-26.8% on the year · -22.0% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 6 new.

Service revenue rose 10% in Q4: Total service revenues were $18.7 billion in Q4, up 10% year-over-year, and $71.3 billion for 2025, up 8%.
Postpaid service revenue rose 14%: Postpaid service revenues were $15.4 billion in Q4, up 14% year-over-year, and $57.9 billion for 2025, up 11%.
Net income and EPS fell year-over-year: Q4 net income was $2.1 billion and diluted EPS was $1.88, both down year-over-year, with severance costs included net of tax.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	24,334	21,957	21,872	+10.8%	+11.3%
Selling, general and administrative	6,570	6,015	5,352	+9.2%	+22.8%
Operating income	3,736	4,530	4,586	-17.5%	-18.5%
Operating margin	15.4%	20.6%	21.0%
Interest expense	1,012	924	841	+9.5%	+20.3%
Pre-tax income	2,635	3,528	3,839	-25.3%	-31.4%
Income tax	532	814	858	-34.6%	-38.0%
Effective tax rate	20.2%	23.1%	22.3%
Net income	2,103	2,714	2,981	-22.5%	-29.5%
Net margin	8.6%	12.4%	13.6%
Diluted EPS	$1.88	$2.41	$2.57	-22.0%	-26.8%

$ million except per share.

Fourth quarters are the year less the first three quarters. 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. 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	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	6,654	7,457	5,549	-10.8%	+19.9%
Capital expenditure	2,469	2,639	2,212	-6.4%	+11.6%
Free cash flow	4,185	4,818	3,337	-13.1%	+25.4%
Free cash flow margin	17.2%	21.9%	15.3%
Cash from investing	-2,500	-10,139	-2,300
Cash from financing	-1,831	-4,238	-7,522
Depreciation and amortisation	3,756	3,408	3,149	+10.2%	+19.3%
Share-based compensation	216	227	175	-4.8%	+23.4%
Buybacks	2,446	2,479	4,687	-1.3%	-47.8%
Dividends paid	1,135	987	1,014	+15.0%	+11.9%
Dividend per share	n/a	$1.02	n/a
Diluted shares, weighted	1,131m	1,127m	1,173m	+0.4%	-3.6%
Shares outstanding at period end	1,107m	1,119m	1,145m	-1.0%	-3.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	59,203	60,477	61,741	-2.1%	-4.1%
Short-term borrowings	5,135	n/a	4,068		+26.2%
Debt	86,282	84,196	78,265	+2.5%	+10.2%
Operating lease liabilities	26,371	26,780	26,408	-1.5%	-0.1%
Finance lease liabilities	1,107	1,186	1,151	-6.7%	-3.8%
Other liabilities	41,139	44,541	36,402	-7.6%	+13.0%
Total liabilities and equity	219,237	217,180	208,035	+0.9%	+5.4%
Fixed assets	38,333	38,718	38,533	-1.0%	-0.5%
Goodwill	13,678	13,690	13,005	-0.1%	+5.2%
Intangible assets	3,843	4,117	2,512	-6.7%	+53.0%
Cash and equivalents	5,598	3,310	5,409	+69.1%	+3.5%
Receivables	4,874	5,084	4,276	-4.1%	+14.0%
Inventory	2,405	2,370	1,607	+1.5%	+49.7%
Other assets	150,506	149,891	142,693	+0.4%	+5.5%
Total assets	219,237	217,180	208,035	+0.9%	+5.4%

Questions

What was T-Mobile US's revenue in Q4 FY2025?

T-Mobile US (TMUS) reported revenue of $24.3 billion for Q4 FY2025, the quarter ended 31 December 2025, up 11.3% on the same quarter a year earlier.

How much did T-Mobile US earn in Q4 FY2025?

Net income for Q4 FY2025 was $2.1 billion, down 29.5% on the year, and diluted earnings per share $1.88.

When did T-Mobile US report Q4 FY2025 results?

T-Mobile US filed its 10-K for the year that ended with the quarter on 11 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	20,785	20,120	19,701	19,477	20,273	19,632	19,196	19,252	20,478	19,594	19,772	20,162	21,872	20,886	21,132	21,957	24,334	23,107	22,791	23,584
SG&A	5,398	5,056	5,856	5,118	5,577	5,425	5,272	5,334	5,280	5,138	5,142	5,186	5,352	5,488	5,397	6,015	6,570	5,966	5,834	6,020
Operating income	1,063	1,806	709	1,281	2,747	3,397	3,793	3,596	3,480	3,998	4,630	4,796	4,586	4,800	5,213	4,530	3,736	4,497	5,490	5,661
Operating margin	5%	9%	4%	7%	14%	17%	20%	19%	17%	20%	23%	24%	21%	23%	25%	21%	15%	19%	24%	24%
Interest expense	797	864	851	827	822	835	861	790	849	880	854	836	841	916	922	924	1,012	1,031	1,055	1,031
Pre-tax income	229	931	-163	451	1,927	2,571	2,938	2,847	2,643	3,138	3,768	3,967	3,839	3,838	4,280	3,528	2,635	3,334	4,328	4,540
Tax rate	-84%	23%	n/a	-13%	23%	25%	24%	25%	24%	24%	22%	23%	22%	23%	25%	23%	20%	25%	25%	24%
Net income	422	713	-108	508	1,477	1,940	2,221	2,142	2,014	2,374	2,925	3,059	2,981	2,953	3,222	2,714	2,103	2,504	3,239	3,455
Net margin	2%	4%	-1%	3%	7%	10%	12%	11%	10%	12%	15%	15%	14%	14%	15%	12%	9%	11%	14%	15%
Diluted EPS	$0.34	$0.57	-$0.09	$0.40	$1.18	$1.58	$1.86	$1.82	$1.67	$2.00	$2.49	$2.61	$2.57	$2.58	$2.84	$2.41	$1.88	$2.27	$2.99	$3.22
Operating cash flow	3,000	3,845	4,209	4,391	4,336	4,051	4,355	5,294	4,859	5,084	5,521	6,139	5,549	6,847	6,992	7,457	6,654	7,222	7,500	7,341
Capital expenditure	2,929	3,381	3,572	3,634	3,383	3,001	2,789	2,424	1,587	2,627	2,040	1,961	2,212	2,451	2,396	2,639	2,469	2,623	2,703	2,270
Free cash flow	71.0	464	637	757	953	1,050	1,566	2,870	3,272	2,457	3,481	4,178	3,337	4,396	4,596	4,818	4,185	4,599	4,797	5,071
Buybacks	n/a	0.0	0.0	557	2,443	4,619	3,591	2,681	2,183	3,594	2,387	560	4,687	2,494	2,555	2,479	2,446	4,826	2,320	2,418
Dividends paid	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	747	769	759	758	1,014	1,003	996	987	1,135	1,120	1,101	1,089
Shares outstanding	1,249m	1,253m	1,254m	1,250m	1,234m	1,205m	1,180m	1,162m	1,196m	1,177m	1,167m	1,165m	1,145m	1,137m	1,127m	1,119m	1,107m	1,086m	1,075m	1,063m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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 its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. 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.

10-K for the period ended 31 December 2025, filed 11 February 2026: the filing.