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Arphra AIPlain-English read on T-Mobile US, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +54.31% | +54.50% | +61.57% | +63.57% | +47.64% | +56.84% | +56.68% | +57.39% | +57.23% |
| Operating margin | +8.60% | +8.22% | +18.16% | +22.13% | +21.23% | +20.56% | +20.43% | +20.10% | +20.85% |
| EBITDA margin | +28.80% | +25.34% | +34.56% | +38.14% | +36.52% | +36.44% | +37.18% | +36.77% | +35.95% |
| EBIT margin | +8.35% | +8.18% | +18.25% | +22.26% | +21.23% | +20.46% | +20.80% | +20.84% | +20.38% |
| Pre-tax margin | +4.18% | +3.95% | +14.00% | +18.07% | +16.17% | +15.89% | +16.20% | +16.15% | +15.70% |
| Net margin | +3.77% | +3.25% | +10.59% | +13.93% | +12.45% | +12.56% | +12.14% | +12.35% | +12.09% |
| Cost structure | |||||||||
| Cost of revenue / sales | +45.69% | +45.50% | +38.43% | +36.43% | +52.36% | +43.08% | +42.18% | +41.26% | +41.83% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | +0.31% | +0.11% | +0.11% | +0.10% | +0.11% |
| SG&A intensity | +25.26% | +27.15% | +27.13% | +25.57% | +26.00% | +26.41% | +26.59% | +26.39% | +26.96% |
| Effective tax rate | +9.76% | +17.67% | +24.38% | +22.93% | +23.03% | +23.30% | +23.59% | +22.84% | +24.59% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +4.38% | +3.72% | +12.85% | +18.37% | +18.57% | +16.30% | +16.29% | +16.64% | +16.61% |
| Return on assets (ROA) | +1.46% | +1.23% | +4.00% | +5.45% | +5.01% | +4.81% | +4.62% | +4.88% | +4.81% |
| Return on capital (ROC) | +3.87% | +3.61% | +7.99% | +10.22% | +10.33% | +9.30% | +9.53% | +9.43% | +9.88% |
| Return on invested capital (ROIC) | +1.70% | +1.43% | +4.66% | +6.44% | +6.06% | +5.68% | +5.66% | +5.79% | +5.72% |
| Asset turnover | +38.79% | +37.65% | +37.83% | +39.13% | +40.28% | +38.31% | +38.09% | +39.54% | +39.76% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +3.77% | +3.25% | +10.59% | +13.93% | +12.45% | +12.56% | +12.14% | +12.35% | +12.09% |
| Asset turnover (× revenue / assets) | +38.79% | +37.65% | +37.83% | +39.13% | +40.28% | +38.31% | +38.09% | +39.54% | +39.76% |
| Equity multiplier (× assets / equity) | +298.92% | +303.40% | +320.92% | +336.95% | +370.31% | +338.80% | +352.17% | +340.89% | +345.70% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.39 | 0.38 | 0.38 | 0.39 | 0.40 | 0.38 | 0.38 | 0.40 | 0.40 |
| Fixed-asset turnover | 1.14 | 1.07 | 1.11 | 1.21 | 1.32 | — | — | — | — |
| Inventory turnover | 14.26 | 19.22 | 17.99 | 18.45 | 19.23 | — | — | — | — |
| Receivables turnover | 8.96 | 8.32 | 8.59 | 9.40 | 8.95 | — | — | — | — |
| Payables turnover | 5.63 | 5.02 | 6.25 | 7.84 | 10.52 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 40.74 | 43.89 | 42.50 | 38.81 | 40.80 | — | — | — | — |
| Days inventory outstanding (DIO) | 25.60 | 18.99 | 20.29 | 19.78 | 18.98 | — | — | — | — |
| Days payables outstanding (DPO) | 64.80 | 72.72 | 58.44 | 46.55 | 34.70 | — | — | — | — |
| Cash conversion cycle | 1.53 | -9.83 | 4.36 | 12.04 | 25.08 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 4.60 | 6.48 | 2.23 | 1.97 | 2.54 | 2.18 | 2.27 | 2.27 | 2.32 |
| FCF / Net income | -2.57 | -0.20 | 0.93 | 0.88 | 1.64 | 1.15 | 1.18 | 1.12 | 1.14 |
| FCF margin | -9.70% | -0.65% | +9.86% | +12.26% | +20.38% | +14.39% | +14.33% | +13.85% | +13.77% |
| OCF margin | +17.37% | +21.09% | +23.62% | +27.39% | +31.65% | +27.33% | +27.55% | +28.03% | +28.01% |
| CapEx / Revenue | +27.08% | +21.74% | +13.76% | +15.12% | +11.27% | +13.69% | +13.11% | +13.12% | +13.13% |
| CapEx / D&A | 1.32 | 1.27 | 0.84 | 0.95 | 0.74 | — | — | — | — |
| Stock-based comp / Revenue | +0.67% | +0.75% | +0.85% | +0.80% | +0.94% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 2.41 | 2.06 | 6.93 | 9.66 | 9.72 | 10.44 | 13.57 | 16.76 | 17.77 |
| EPS · basic | 2.42 | 2.07 | 7.02 | 9.70 | 9.75 | 10.42 | 13.65 | 16.96 | 17.89 |
| Book value / share | 55.07 | 55.49 | 53.92 | 52.63 | 52.34 | 64.28 | 65.38 | 66.97 | 67.92 |
| Tangible BV / share | -32.22 | -33.36 | -39.03 | -46.31 | 36.85 | 64.28 | 65.38 | 66.97 | 67.92 |
| Sales / share | 63.85 | 63.38 | 65.45 | 69.38 | 78.08 | 83.43 | 87.69 | 90.27 | 93.35 |
| Operating CF / share | 11.09 | 13.37 | 15.46 | 19.00 | 24.71 | 22.80 | 24.16 | 25.30 | 26.15 |
| Free cash flow / share | -6.20 | -0.41 | 6.46 | 8.51 | 15.91 | 12.00 | 12.57 | 12.50 | 12.85 |
| Dividends / share | 0.00 | 0.00 | 0.62 | 2.81 | 3.64 | 2.76 | 2.78 | 2.97 | 3.07 |
| Payout ratio | 0.00% | 0.00% | +8.98% | +29.10% | +37.49% | +26.38% | +26.07% | +26.63% | +27.25% |
| Retention ratio | +100.00% | +100.00% | +91.02% | +70.90% | +62.51% | +73.62% | +73.93% | +73.37% | +72.75% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | -0.68% | -1.27% | +3.62% | +8.49% | +7.18% | +4.49% | +4.12% | +3.34% | +3.61% |
| Gross profit · YoY | — | -0.34% | +11.54% | +6.98% | -18.70% | +27.89% | +4.20% | +5.43% | +3.04% | +4.29% |
| Profit | ||||||||||
| Operating income · YoY | — | -5.06% | +118.03% | +26.24% | +4.08% | +3.81% | +3.86% | +2.42% | +7.21% | +15.74% |
| EBITDA · YoY | — | -12.63% | +34.68% | +14.33% | +3.90% | +6.94% | +6.60% | +3.00% | +1.03% | +6.52% |
| Net income · YoY | — | -14.35% | +221.12% | +36.34% | -3.06% | +8.11% | +1.06% | +5.87% | +1.17% | +19.84% |
| Operating | ||||||||||
| EBIT · YoY | — | -2.73% | +120.18% | +26.43% | +3.43% | +3.30% | +6.24% | +4.33% | +1.05% | +15.83% |
| R&D · YoY | — | — | — | — | — | -63.77% | +4.81% | +0.52% | +8.03% | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -14.52% | +236.41% | +39.39% | +0.62% | +7.42% | +29.98% | +23.47% | +6.06% | +28.37% |
| EPS · basic · YoY | — | -14.46% | +239.13% | +38.18% | +0.52% | +6.85% | +30.99% | +24.29% | +5.49% | +28.41% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $108.82B | $111.79B | $113.83B | $114.4B | $122.27B | $136.36B | $138.31B | $143.1B | $147.26B |
| Net debt | $102.19B | $107.29B | $108.69B | $109B | $116.67B | $130.25B | $131.87B | $136.42B | $140.25B |
| Net debt / EBITDA | 4.43 | 5.32 | 4.00 | 3.51 | 3.62 | 3.78 | 3.59 | 3.60 | 3.67 |
| Debt / equity | 1.57 | 1.60 | 1.76 | 1.85 | 2.07 | 1.87 | 1.88 | 1.87 | 1.90 |
| Debt / assets | +52.68% | +52.90% | +54.81% | +54.99% | +55.77% | +55.19% | +53.27% | +54.95% | +55.02% |
| Equity / assets | +33.45% | +32.96% | +31.16% | +29.68% | +27.00% | +29.52% | +28.40% | +29.33% | +28.93% |
| Coverage | |||||||||
| EBITDA / interest expense | 6.90 | 5.99 | 8.14 | 9.10 | 9.16 | 8.79 | 8.99 | 9.11 | 8.91 |
| Operating income / interest | 2.06 | 1.95 | 4.28 | 5.28 | 5.33 | 4.96 | 4.94 | 4.98 | 5.17 |
| Interest expense | $3.34B | $3.36B | $3.34B | $3.41B | $3.52B | $3.92B | $4.09B | $4.16B | $4.29B |
| Liquidity | |||||||||
| Current ratio | 0.89 | 0.77 | 0.91 | 0.91 | 1.00 | — | — | — | — |
| Quick ratio | 0.66 | 0.57 | 0.68 | 0.70 | 0.63 | — | — | — | — |
| Cash ratio | 0.28 | 0.18 | 0.25 | 0.27 | 0.23 | — | — | — | — |
| Working capital | -$2.61B | -$5.68B | -$1.91B | -$1.77B | -$39M | — | — | — | — |
| Working capital / revenue | -3.26% | -7.13% | -2.44% | -2.17% | -0.04% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).