Recent News
On April 23 the board increased the 2026 stockholder return program authorization to up to $18.2 billion and, shortly after, agreed to a joint venture to acquire a 50% stake in i3 Broadband, targeting a mid‑2026 close. On May 5 the company announced network resilience and next‑generation emergency capabilities built on its 5G standalone platform. On May 19 T‑Mobile described expanded first‑responder support including T‑Priority and Drone as First Responder capabilities. On June 15 the board declared a $1.02 per‑share quarterly cash dividend. On June 16 the company published consumer-facing summer travel and member perks content.
Technical Analysis
Directional indicators: DI+ at 28.13 and increasing indicates a bullish directional bias; DI‑ registered a peak‑and‑reversal at 25.72, which also signals a bullish transition. ADX at 17.14, however, classifies the move as lacking trend strength, implying the directional bias may remain range‑bound unless ADX rises.
MACD: The MACD at 1.05 sits above its signal line at -0.62 and the MACD trend is increasing; that cross above the signal line constitutes a bullish momentum signal supporting near‑term upside toward short‑term resistance levels.
MRO: The MRO reads 13.17 with a dip‑and‑reversal pattern. Because the oscillator sits positive, it indicates price currently sits above the calculated target and could face mean‑reverting pressure despite the recent bullish flip.
RSI: At 50.81 and showing a peak‑and‑reversal, the RSI implies momentum has waned from a prior peak and reduces the runway for an extended immediate rally absent new directional strength.
Price structure and moving averages: The close at $192.43 trades above the 12‑ and 26‑day EMAs and above the 20‑day and 50‑day averages, which supports short‑term positive price bias; the 200‑day average at $199.81 presents a nearby technical resistance band. Bollinger band width and 20‑day stdev show moderate intraday dispersion, while the super trend support sits near $181.51. Volume sits slightly above the 10‑day average but below longer‑term averages, so conviction requires higher participation.
Fundamental Analysis
Revenue and profitability: Total revenue of $23,107,000,000 produced YoY revenue growth of 11.85% and a QoQ change of -146.57% (reported). Operating income at $4,497,000,000 and EBIT at $4,365,000,000 deliver an EBIT margin of 18.89%; QoQ margin improved by 26.04% while YoY margin contracted by 17.01%. Gross profit totaled $14,280,000,000 and gross margin sits at 61.80%, slightly below the industry peer mean gross margin of 63.531% but within the industry peer range.
Earnings and cash generation: GAAP EPS came in at $2.77 versus an estimate of $2.11, producing an EPS surprise of +31.28%. Net income reached $2,504,000,000. Operating cash flow totaled $7,222,000,000 and free cash flow measured $4,573,000,000, delivering a free cash flow yield of 2.07%, which stands above the industry peer mean free cash flow yield of ~0.99%. Cash conversion metrics show a cash conversion ratio of 13.03 and cash on hand of $3,520,000,000.
Leverage and capital returns: Total debt carries to $121,217,000,000 with net debt roughly $82,527,000,000 and debt‑to‑equity at 216.93%, which sits above the industry peer mean debt‑to‑equity of ~166.47% and increases sensitivity to interest and refinancing. Interest coverage at 4.23x remains close to the industry peer mean. The board’s increased $18.2 billion stockholder return authorization plus ongoing dividend payments (current quarterly cash dividend $1.02 per share) emphasizes prioritized capital return alongside balance‑sheet management.
Valuation context: Price multiples show a trailing P/E of 89.46 and a forward P/E of 60.13; price‑to‑sales stands at 9.54 and enterprise multiple near 41.34. WMDST values the stock as under‑valued based on its cash generation and tested valuation model, but the combination of elevated leverage metrics and high trailing multiples constrains valuation upside absent sustained margin expansion or deleveraging.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-28 |
| NEXT REPORT DATE: | 2026-07-28 |
| CASH FLOW | Begin Period Cash Flow | $ 6.0 B |
| Operating Cash Flow | $ 7.2 B | |
| Capital Expenditures | $ -2.65 B | |
| Change In Working Capital | $ -637.00 M | |
| Dividends Paid | $ -1.12 B | |
| Cash Flow Delta | $ -2.07 B | |
| End Period Cash Flow | $ 3.9 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 23.1 B | |
| Forward Revenue | $ 9.0 B | |
| COSTS | ||
| Cost Of Revenue | $ 8.8 B | |
| Depreciation | $ 3.8 B | |
| Depreciation and Amortization | $ 3.8 B | |
| Research and Development | — | |
| Total Operating Expenses | $ 18.6 B | |
| PROFITABILITY | ||
| Gross Profit | $ 14.3 B | |
| EBITDA | $ 8.2 B | |
| EBIT | $ 4.4 B | |
| Operating Income | $ 4.5 B | |
| Interest Income | — | |
| Interest Expense | $ 1.0 B | |
| Net Interest Income | $ -1.03 B | |
| Income Before Tax | $ 3.3 B | |
| Tax Provision | $ 830.0 M | |
| Tax Rate | 24.9 % | |
| Net Income | $ 2.5 B | |
| Net Income From Continuing Operations | $ 2.5 B | |
| EARNINGS | ||
| EPS Estimate | $ 2.11 | |
| EPS Actual | $ 2.77 | |
| EPS Difference | $ 0.66 | |
| EPS Surprise | 31.28 % | |
| Forward EPS | $ 3.57 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 214.7 B | |
| Intangible Assets | $ 114.8 B | |
| Net Tangible Assets | $ -58.92 B | |
| Total Current Assets | $ 22.1 B | |
| Cash and Short-Term Investments | $ 3.5 B | |
| Cash | $ 3.5 B | |
| Net Receivables | $ 4.9 B | |
| Inventory | $ 2.3 B | |
| Long-Term Investments | $ 10.1 B | |
| LIABILITIES | ||
| Accounts Payable | $ 4.6 B | |
| Short-Term Debt | $ 2.2 B | |
| Total Current Liabilities | $ 20.3 B | |
| Net Debt | $ 82.5 B | |
| Total Debt | $ 121.2 B | |
| Total Liabilities | $ 158.8 B | |
| EQUITY | ||
| Total Equity | $ 55.9 B | |
| Retained Earnings | $ 22.5 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 51.46 | |
| Shares Outstanding | 1.086 B | |
| Revenue Per-Share | $ 21.28 | |
| VALUATION | Market Capitalization | $ 220.5 B |
| Enterprise Value | $ 338.2 B | |
| Enterprise Multiple | 41.337 | |
| Enterprise Multiple QoQ | -9.839 % | |
| Enterprise Multiple YoY | -17.174 % | |
| Enterprise Multiple IPRWA | high: 168.53 TMUS: 41.337 mean: 29.765 median: 22.476 low: -83.757 |
|
| EV/R | 14.637 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.842 | |
| Asset To Liability | 1.352 | |
| Debt To Capital | 0.684 | |
| Debt To Assets | 0.565 | |
| Debt To Assets QoQ | 1.25 % | |
| Debt To Assets YoY | 0.238 % | |
| Debt To Assets IPRWA | high: 0.751 TMUS: 0.565 mean: 0.407 median: 0.404 low: 0.006 |
|
| Debt To Equity | 2.169 | |
| Debt To Equity QoQ | 5.037 % | |
| Debt To Equity YoY | 9.63 % | |
| Debt To Equity IPRWA | high: 3.76 TMUS: 2.169 median: 1.709 mean: 1.665 low: 0.01 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.946 | |
| Price To Book QoQ | 4.894 % | |
| Price To Book YoY | -16.258 % | |
| Price To Book IPRWA | high: 6.437 TMUS: 3.946 mean: 3.699 median: 3.355 low: 0.001 |
|
| Price To Earnings (P/E) | 89.464 | |
| Price To Earnings QoQ | -16.415 % | |
| Price To Earnings YoY | -8.836 % | |
| Price To Earnings IPRWA | high: 142.594 TMUS: 89.464 mean: 55.313 median: 55.253 low: -47.098 |
|
| PE/G Ratio | 4.313 | |
| Price To Sales (P/S) | 9.544 | |
| Price To Sales QoQ | 4.261 % | |
| Price To Sales YoY | -30.78 % | |
| Price To Sales IPRWA | high: 129.657 mean: 10.509 TMUS: 9.544 median: 6.179 low: 0.002 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 60.131 | |
| Forward PE/G | 2.899 | |
| Forward P/S | 25.242 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -3.904 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.107 | |
| Asset Turnover Ratio QoQ | -4.492 % | |
| Asset Turnover Ratio YoY | 7.771 % | |
| Asset Turnover Ratio IPRWA | high: 0.146 median: 0.13 mean: 0.128 TMUS: 0.107 low: 0.004 |
|
| Receivables Turnover | 4.745 | |
| Receivables Turnover Ratio QoQ | -2.917 % | |
| Receivables Turnover Ratio YoY | -1.543 % | |
| Receivables Turnover Ratio IPRWA | TMUS: 4.745 high: 4.344 mean: 1.225 median: 0.978 low: 0.028 |
|
| Inventory Turnover | 3.731 | |
| Inventory Turnover Ratio QoQ | -13.287 % | |
| Inventory Turnover Ratio YoY | -10.663 % | |
| Inventory Turnover Ratio IPRWA | high: 8.707 TMUS: 3.731 mean: 3.51 median: 3.199 low: 0.874 |
|
| Days Sales Outstanding (DSO) | 19.232 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 0.412 | |
| Cash Conversion Cycle Days QoQ | -105.961 % | |
| Cash Conversion Cycle Days YoY | -113.077 % | |
| Cash Conversion Cycle Days IPRWA | high: 130.907 TMUS: 0.412 median: -22.474 mean: -25.523 low: -248.318 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 13.025 | |
| CapEx To Revenue | -0.115 | |
| CapEx To Depreciation | -0.694 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 139.7 B | |
| Net Invested Capital | $ 141.9 B | |
| Invested Capital | $ 141.9 B | |
| Net Tangible Assets | $ -58.92 B | |
| Net Working Capital | $ 1.8 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.173 | |
| Current Ratio | 1.087 | |
| Current Ratio QoQ | 8.893 % | |
| Current Ratio YoY | -6.383 % | |
| Current Ratio IPRWA | high: 3.333 TMUS: 1.087 mean: 0.816 median: 0.72 low: 0.615 |
|
| Quick Ratio | 0.973 | |
| Quick Ratio QoQ | 8.062 % | |
| Quick Ratio YoY | -9.87 % | |
| Quick Ratio IPRWA | high: 2.208 TMUS: 0.973 mean: 0.768 median: 0.67 low: 0.596 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 14.815 | |
| Cost Of Debt | 0.636 % | |
| Interest Coverage Ratio | 4.234 | |
| Interest Coverage Ratio QoQ | 17.482 % | |
| Interest Coverage Ratio YoY | -18.424 % | |
| Interest Coverage Ratio IPRWA | high: 6.191 median: 4.241 TMUS: 4.234 mean: 4.048 low: -60.89 |
|
| Operating Cash Flow Ratio | 0.324 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 39.837 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.236 | |
| Dividend Payout Ratio | 0.447 | |
| Dividend Rate | $ 1.03 | |
| Dividend Yield | 0.005 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -2.085 % | |
| Revenue Growth | -5.042 % | |
| Revenue Growth QoQ | -146.573 % | |
| Revenue Growth YoY | 11.846 % | |
| Revenue Growth IPRWA | high: 20.157 % mean: -2.531 % low: -3.288 % median: -3.288 % TMUS: -5.042 % |
|
| Earnings Growth | 20.745 % | |
| Earnings Growth QoQ | -194.33 % | |
| Earnings Growth YoY | 5232.905 % | |
| Earnings Growth IPRWA | high: 138.462 % TMUS: 20.745 % median: 18.919 % mean: -8.219 % low: -439.024 % |
|
| MARGINS | ||
| Gross Margin | 61.799 % | |
| Gross Margin QoQ | 6.943 % | |
| Gross Margin YoY | -4.291 % | |
| Gross Margin IPRWA | high: 87.64 % mean: 63.531 % median: 62.621 % TMUS: 61.799 % low: 19.477 % |
|
| EBIT Margin | 18.89 % | |
| EBIT Margin QoQ | 26.043 % | |
| EBIT Margin YoY | -17.011 % | |
| EBIT Margin IPRWA | high: 49.182 % mean: 21.44 % median: 21.223 % TMUS: 18.89 % low: -29.449 % |
|
| Return On Sales (ROS) | 19.462 % | |
| Return On Sales QoQ | 26.763 % | |
| Return On Sales YoY | -14.498 % | |
| Return On Sales IPRWA | high: 29.923 % median: 22.056 % mean: 21.982 % TMUS: 19.462 % low: -29.449 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 4.6 B | |
| Free Cash Flow Yield | 2.074 % | |
| Free Cash Flow Yield QoQ | 12.048 % | |
| Free Cash Flow Yield YoY | 38.175 % | |
| Free Cash Flow Yield IPRWA | high: 6.648 % TMUS: 2.074 % mean: 0.986 % median: 0.149 % low: -6.372 % |
|
| Free Cash Growth | 10.941 % | |
| Free Cash Growth QoQ | -60.495 % | |
| Free Cash Growth YoY | -84.967 % | |
| Free Cash Growth IPRWA | high: 123.699 % TMUS: 10.941 % mean: -81.85 % median: -117.674 % low: -174.309 % |
|
| Free Cash To Net Income | 1.826 | |
| Cash Flow Margin | 28.494 % | |
| Cash Flow To Earnings | 2.629 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.154 % | |
| Return On Assets QoQ | 19.71 % | |
| Return On Assets YoY | -17.394 % | |
| Return On Assets IPRWA | high: 4.199 % median: 1.284 % mean: 1.239 % TMUS: 1.154 % low: -4.527 % |
|
| Return On Capital Employed (ROCE) | 2.246 % | |
| Return On Equity (ROE) | 0.045 | |
| Return On Equity QoQ | 26.154 % | |
| Return On Equity YoY | -7.283 % | |
| Return On Equity IPRWA | high: 0.071 median: 0.054 mean: 0.052 TMUS: 0.045 low: -0.117 |
|
| DuPont ROE | 4.352 % | |
| Return On Invested Capital (ROIC) | 2.31 % | |
| Return On Invested Capital QoQ | 15.442 % | |
| Return On Invested Capital YoY | -7.341 % | |
| Return On Invested Capital IPRWA | high: 4.946 % median: 3.343 % mean: 3.328 % TMUS: 2.31 % low: -3.634 % |
|