TMUS
T-Mobile US, Inc.
TMUS has the edge over TU overall, supported by stronger valuation and stronger modeled upside.
TU
TELUS Corporation
TU offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
TMUS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Strong |
TMUS's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
TU Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Healthy | |
| Weak |
TU's cash flow is currently healthy, and its revenue is stable, but its profitability and balance sheet are under pressure.
TMUS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 13x | $171 | — |
| Current | 16x | $171 | — |
| Cheap | 21x | $218 | +27% |
| Fair | 26x | $274 | +60% |
| Expensive | 56x | $581 | +240% |
Historical ranges are pointers, not guarantees.
TMUS's PE is in its cheap range at 16x. If earnings grow as analysts expect, today's price would be 13x next year's earnings.
TU PE Valuation
TU has no meaningful PE right now: it lost money over the past year.
TMUS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
TMUS has the edge over TU on the outlook, with more favorable earnings and revenue expectations.
TU Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Decline | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect TU's profitability to improve, but its earnings to decline. However, they disagree widely on these estimates.
TMUS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.49 | +30% |
| Q3 2026 | $10.37 | -0.2% |
| Q2 2026 | $9.56 | -9.7% |
| Q1 2026 | $9.41 | -8.1% |
| Q4 2025 | $9.72 | +0.6% |
| Q3 2025 | $10.39 | +18% |
| Q2 2025 | $10.59 | +33% |
| Q1 2025 | $10.24 | +39% |
| Q4 2024 | $9.66 | +39% |
TMUS has the edge over TU on earnings quality, reporting a profit while its opponent remains loss making.
TU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.40 | -189% |
| Q1 2026 | $0.42 | -25% |
| Q4 2025 | $0.51 | +8.5% |
| Q3 2025 | $0.54 | +23% |
| Q2 2025 | $0.45 | +22% |
| Q1 2025 | $0.56 | +56% |
| Q4 2024 | $0.47 | +15% |
| Q3 2024 | $0.44 | +13% |
TU has swung to a loss: it lost $0.40 per share over the past year, after a profit the year before.
TMUS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $23.6B | +7.4% |
| Q2 2026 | $22.8B | +7.9% |
| Q1 2026 | $23.1B | +11% |
| Q4 2025 | $24.3B | +11% |
| Q3 2025 | $22B | +8.9% |
| Q2 2025 | $21.1B | +6.9% |
| Q1 2025 | $20.9B | +6.6% |
| Q4 2024 | $21.9B | +6.8% |
TMUS has the edge over TU on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 24% | +3.4 points |
| Q2 2026 | 24% | -0.6 points |
| Q1 2026 | 19% | -3.5 points |
| Q4 2025 | 15% | -5.6 points |
| Q3 2025 | 21% | -3.2 points |
| Q2 2025 | 25% | +1.3 points |
| Q1 2025 | 23% | +2.6 points |
| Q4 2024 | 21% | +4 points |
TMUS has the edge over TU on profitability, with a higher operating margin.
TU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $3.5B | -2.2% |
| Q1 2026 | $3.5B | -0.6% |
| Q4 2025 | $3.7B | -1.9% |
| Q3 2025 | $3.6B | +0.5% |
| Q2 2025 | $3.5B | +2.7% |
| Q1 2025 | $3.5B | +3.1% |
| Q4 2024 | $3.7B | +3.4% |
| Q3 2024 | $3.5B | +1% |
TU's revenue grew through 2023 and has held roughly level since: $3.5B last quarter, down 2.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 15% | +11 points |
| Q1 2026 | 17% | +1.5 points |
| Q4 2025 | 13% | -1 points |
| Q3 2025 | 15% | -1 points |
| Q2 2025 | 3.5% | -10 points |
| Q1 2025 | 15% | +3.2 points |
| Q4 2024 | 14% | +1.4 points |
| Q3 2024 | 16% | +5.3 points |
TU's operating margin was 15% last quarter, up 11 points from the same quarter a year ago.
TMUS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $5.1B | +5.3% |
| Q2 2026 | $4.8B | +4.4% |
| Q1 2026 | $4.6B | +4.6% |
| Q4 2025 | $4.2B | +25% |
| Q3 2025 | $4.8B | +15% |
| Q2 2025 | $4.6B | +32% |
| Q1 2025 | $4.4B | +79% |
| Q4 2024 | $3.3B | +2% |
TMUS has the edge over TU on cash flow, with more consistent year-over-year improvement.
TU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $485.1M | +21% |
| Q1 2026 | -$17.6M | -106% |
| Q4 2025 | $352.2M | +$607.4M |
| Q3 2025 | $506.8M | -4.3% |
| Q2 2025 | $399.3M | -43% |
| Q1 2025 | $297.4M | +2921% |
| Q4 2024 | -$255.2M | -158% |
| Q3 2024 | $529.4M | +40% |
TU generated $1.3B in free cash flow over the past year, up 37% from the year before.
TMUS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -10.8M shares |
| 1 year | -4.9% | -55M shares |
| 3 years | -8.8% | -103M shares |
| 5 years | -15% | -182M shares |
| Available history | +24% | +207M shares |
TMUS has the edge over TU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $2.4B |
| Q2 2026 | $2.3B |
| Q1 2026 | $4.8B |
| Q4 2025 | $2.4B |
| Q3 2025 | $2.5B |
| Q2 2025 | $2.6B |
| Q1 2025 | $2.5B |
| Q4 2024 | $4.7B |
TMUS spent $12B buying back its own shares over the past year, down 1.7% from the year before.
TU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +12M shares |
| 1 year | +2.9% | +44M shares |
| 3 years | +8.4% | +122M shares |
| 5 years | +16% | +215M shares |
| Available history | +31% | +370M shares |
TU has 1.6B diluted shares, up 2.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
TU hasn't bought back shares in the past year.
TMUS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.0x | Very low |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | 2.5x | Moderate |
| Q3 2025 | 0.1x | Very low |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | 2.4x | Moderate |
TMUS has the edge over TU on leverage, with a lower net debt burden relative to earnings.
TU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 4.1x | High |
| Q1 2026 | 4.0x | High |
| Q4 2025 | 3.9x | Elevated |
| Q3 2025 | 2.7x | Moderate |
| Q2 2025 | 4.1x | High |
| Q1 2025 | 4.1x | High |
| Q4 2024 | 4.1x | High |
| Q3 2024 | 4.2x | High |
TU's net debt is about 4.1 years of its operating earnings (EBITDA), about the same as a year ago.
TMUS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.9 | Neutral |
| Stochastic | 42.1 | Neutral |
TMUS's weekly RSI is 48 (neutral) and its Stochastic is 42 (neutral).
TU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.3 | Neutral |
| Stochastic | 43.4 | Neutral |
TU's weekly RSI is 34 (neutral) and its Stochastic is 43 (neutral).
TMUS PE vs Communication Services Sector
| Metric | TMUS | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 16x | Same PE |
| PE % | 1 | 26 | 25 pts below |
TMUS is trading at 16x earnings, in line with the Communication Services sector's median of 16x.
TU PE vs Communication Services Sector
| Metric | TU | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 16x | — |
TU has no meaningful PE right now: it lost money over the past year.
TMUS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $159.1 | 7.5% above |
| 20 week MA | $172.0 | 0.5% below |
| 50 week MA | $187.8 | 8.9% below |
| 100 week MA | $212.9 | 20% below |
| 200 week MA | $188.7 | 9.4% below |
TMUS has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 9.4% below its 200-week average.
TU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.50 | 0.2% above |
| 20 week MA | $9.27 | 8.1% below |
| 50 week MA | $11.4 | 25% below |
| 100 week MA | $13.3 | 36% below |
| 200 week MA | $15.5 | 45% below |
TU has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 45% below its 200-week average.
TMUS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $77.2 | $132.9 | +72% |
| 2021 | $132.9 | $119.9 | -9.8% |
| 2022 | $119.9 | $140.0 | +17% |
| 2023 | $140.0 | $160.3 | +15% |
| 2024 | $160.3 | $223.0 | +39% |
| 2025 | $223.0 | $201.0 | -9.9% |
| 2026 YTD | $201.0 | $171.0 | -15% |
TMUS has the edge over TU on returns for 2026, with the stronger performance.
TU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $19.3 | $20.0 | +3.3% |
| 2021 | $20.0 | $23.2 | +16% |
| 2022 | $23.2 | $19.7 | -15% |
| 2023 | $19.7 | $17.8 | -9.6% |
| 2024 | $17.8 | $13.5 | -24% |
| 2025 | $13.5 | $12.9 | -4.4% |
| 2026 YTD | $12.9 | $8.52 | -34% |
TU has finished four years in a row lower, and it's down 34% so far in 2026.