TMUS
T-Mobile US, Inc.
TMUS has the edge over VIV overall, supported by stronger valuation and stronger modeled upside.
VIV
Telefônica Brasil S.A.
VIV 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.
VIV Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
VIV's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
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 has the edge over VIV in the historical PE scenario, which offers more potential upside but is not a forecast.
VIV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $9.23 | -22% |
| Fair | 16x | $12.05 | +1.3% |
| Current | 16x | $11.90 | — |
| Expensive | 18x | $13.36 | +12% |
Historical ranges are pointers, not guarantees.
VIV's PE is 16x, but its earnings don't support one, so it isn't a reliable read right now.
TMUS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
TMUS has the edge over VIV on the outlook, with more favorable revenue expectations.
VIV Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect VIV's earnings to grow and its profitability to improve, with its revenue holding steady. 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 earned $10.37 per share over the past year, about the same as the year before.
VIV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.74 | +16% |
| Q1 2026 | $0.71 | +15% |
| Q4 2025 | $0.69 | +13% |
| Q3 2025 | $0.67 | +14% |
| Q2 2025 | $0.64 | +14% |
| Q1 2025 | $0.62 | +13% |
| Q4 2024 | $0.61 | +13% |
| Q3 2024 | $0.59 | +20% |
VIV has the edge over TMUS on earnings, with more consistent year-over-year improvement.
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 VIV on sales, with stronger typical year-over-year growth.
| 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 VIV on profitability, with a higher operating margin.
VIV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $2.8B | +7.6% |
| Q1 2026 | $2.7B | +5.4% |
| Q4 2025 | $2.8B | +8.7% |
| Q3 2025 | $2.7B | +6.5% |
| Q2 2025 | $2.6B | +7.1% |
| Q1 2025 | $2.6B | +6.2% |
| Q4 2024 | $2.6B | +7.7% |
| Q3 2024 | $2.5B | +7.1% |
VIV's revenue has grown year over year for 22 quarters in a row: $2.8B last quarter, up 7.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 16% | +1.2 points |
| Q1 2026 | 15% | +1 points |
| Q4 2025 | 16% | -1.1 points |
| Q3 2025 | 19% | +2.2 points |
| Q2 2025 | 15% | +0.4 points |
| Q1 2025 | 14% | -0.3 points |
| Q4 2024 | 17% | 0 points |
| Q3 2024 | 16% | +0.2 points |
VIV's operating margin was 16% last quarter, up 1.2 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 VIV on cash flow, with more consistent year-over-year improvement.
VIV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $538M | -17% |
| Q1 2026 | $516.5M | +8.1% |
| Q4 2025 | $484.8M | +45% |
| Q3 2025 | $403.4M | -0.4% |
| Q2 2025 | $649.8M | +3.6% |
| Q1 2025 | $477.9M | -8.6% |
| Q4 2024 | $334.1M | +59% |
| Q3 2024 | $404.9M | -5.7% |
VIV's free cash flow has been positive every quarter for seven years: $1.9B over the past year, up 4.1% 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 VIV 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.
VIV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +7.3M shares |
| 1 year | +0.3% | +5.1M shares |
| 3 years | -3.3% | -55.3M shares |
| 5 years | -4.7% | -79M shares |
| Available history | -5% | -83.6M shares |
VIV has 1.6B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $72,869 |
| Q1 2026 | $50,131 |
| Q4 2025 | $61.6M |
| Q3 2025 | $648.4M |
| Q2 2025 | $85.1M |
| Q1 2025 | $58.5M |
| Q4 2024 | $58.4M |
| Q3 2024 | $389.9M |
VIV spent $710M buying back its own shares over the past year, up 20% from the year before.
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 VIV on leverage, with a lower net debt burden relative to earnings.
VIV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.4x | Very low |
| Q1 2026 | 0.4x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.5x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.6x | Very low |
| Q4 2024 | 0.7x | Very low |
| Q3 2024 | 0.6x | Very low |
VIV's net debt is less than a year of its operating earnings (EBITDA).
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).
VIV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.0 | Neutral |
| Stochastic | 32.0 | Neutral |
VIV's weekly RSI is 45 (neutral) and its Stochastic is 32 (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.
VIV PE vs Communication Services Sector
| Metric | VIV | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 16x | 2.4% below |
| PE % | 46 | 26 | 20 pts above |
VIV has the edge over TMUS on valuation relative to its sector.
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.
VIV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.9 | 0.3% below |
| 20 week MA | $12.3 | 2.9% below |
| 50 week MA | $13.5 | 12% below |
| 100 week MA | $12.0 | 0.5% below |
| 200 week MA | $10.5 | 13% above |
VIV has fallen below most of its moving averages, though it's still 13% above 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 finished higher in four of the last six years. It's down 15% so far in 2026.
VIV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $14.4 | $8.71 | -39% |
| 2021 | $8.71 | $8.76 | +0.6% |
| 2022 | $8.76 | $7.42 | -15% |
| 2023 | $7.42 | $10.9 | +47% |
| 2024 | $10.9 | $7.63 | -30% |
| 2025 | $7.63 | $11.9 | +56% |
| 2026 YTD | $11.9 | $11.9 | +0.1% |
VIV has the edge over TMUS on returns for 2026, with the stronger performance.