TMUS
T-Mobile US, Inc.
TMUS has the edge over ZG overall, supported by stronger valuation and stronger modeled upside.
ZG
Zillow Group, Inc. Class A
ZG 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.
ZG Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Healthy | |
| Strong |
ZG's revenue, cash flow and balance sheet are currently healthy, but its profitability is 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.
ZG PE Valuation
ZG 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 ZG on the outlook, with more favorable revenue expectations.
ZG Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect ZG'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 has the edge over ZG on earnings quality, reporting a profit while its opponent remains loss making.
ZG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.11 | — |
| Q3 2026 | -$0.52 | -$0.37 |
| Q2 2026 | $0.22 | +$0.49 |
| Q1 2026 | $0.25 | +$0.60 |
| Q4 2025 | $0.09 | +$0.57 |
| Q3 2025 | -$0.15 | +$0.42 |
| Q2 2025 | -$0.27 | +$0.34 |
| Q1 2025 | -$0.35 | +$0.34 |
| Q4 2024 | -$0.48 | +$0.20 |
ZG is still losing money, but far less than before: $0.52 per share over the past year, against $2.26 at its worst in mid-2022.
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's revenue has grown year over year for 10 quarters in a row: $23.6B last quarter, up 7.4% from the same quarter a year ago.
| 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 ZG on profitability, with a higher operating margin.
ZG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $724M | +7.1% |
| Q2 2026 | $772M | +18% |
| Q1 2026 | $708M | +18% |
| Q4 2025 | $654M | +18% |
| Q3 2025 | $676M | +16% |
| Q2 2025 | $655M | +15% |
| Q1 2025 | $598M | +13% |
| Q4 2024 | $554M | +17% |
ZG has the edge over TMUS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -22% | -22 points |
| Q2 2026 | -1.3% | +0.4 points |
| Q1 2026 | 5.1% | +6.6 points |
| Q4 2025 | -1.7% | +11 points |
| Q3 2025 | -0.4% | +7.3 points |
| Q2 2025 | -1.7% | +5 points |
| Q1 2025 | -1.5% | +7 points |
| Q4 2024 | -12% | +9.7 points |
ZG's operating margin was −22% last quarter, down 22 points from the same quarter a year ago, near the bottom of its range since 2019.
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 generated $18.7B in free cash flow over the past year, up 8.8% from the year before.
ZG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $128M | +75% |
| Q2 2026 | -$25M | -150% |
| Q1 2026 | $166M | +144% |
| Q4 2025 | $44M | -50% |
| Q3 2025 | $73M | -47% |
| Q2 2025 | $50M | +178% |
| Q1 2025 | $68M | +66% |
| Q4 2024 | $88M | +69% |
ZG still generates free cash flow, though less than at its 2022 peak: $313M over the past year.
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 1.1B diluted shares, down 4.9% from a year ago, with $12B in buybacks over the past year.
| 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.
ZG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -2.6M shares |
| 1 year | -12% | -30.9M shares |
| 3 years | -3.4% | -8M shares |
| 5 years | -11% | -28.8M shares |
| Available history | +9.2% | +18.9M shares |
ZG has the edge over TMUS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $20M |
| Q2 2026 | $200M |
| Q1 2026 | $626M |
| Q4 2025 | $232M |
| Q3 2025 | $38M |
| Q2 2025 | $150M |
| Q1 2025 | $250M |
| Q4 2024 | — |
ZG spent $1.1B buying back its own shares over the past year, up 146% 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's net debt is less than a year of its operating earnings (EBITDA).
ZG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.9x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -1.3x | Net Cash |
| Q4 2025 | -1.8x | Net Cash |
| Q3 2025 | -3.6x | Net Cash |
| Q2 2025 | -2.9x | Net Cash |
| Q1 2025 | -8.4x | Net Cash |
| Q4 2024 | -21.8x | Net Cash |
ZG has the edge over TMUS on leverage, with a lower net debt burden relative to earnings.
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).
ZG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.6 | Neutral |
| Stochastic | 28.6 | Neutral |
ZG's weekly RSI is 38 (neutral) and its Stochastic is 29 (neutral).
TMUS PE vs Communication Services Sector
| Metric | TMUS | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 16x | Same PE |
| PE % | 1 | 26 | 25 pts below |
TMUS has the edge over ZG on valuation relative to its sector.
ZG PE vs Communication Services Sector
| Metric | ZG | Sector median | Relative |
|---|---|---|---|
| PE | 127x | 16x | 673% above |
| PE % | 19 | 26 | 7 pts below |
ZG 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 the edge over ZG on trend strength, trading above more of its moving averages.
ZG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $30.6 | 4.8% below |
| 20 week MA | $32.5 | 10% below |
| 50 week MA | $42.5 | 31% below |
| 100 week MA | $57.6 | 49% below |
| 200 week MA | $53.5 | 46% below |
ZG is in a downtrend: it's below all five of its weekly moving averages, and 46% 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 ZG on returns for 2026, with the stronger performance.
ZG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $45.8 | $143.9 | +214% |
| 2021 | $143.9 | $62.3 | -57% |
| 2022 | $62.3 | $32.1 | -48% |
| 2023 | $32.1 | $56.7 | +77% |
| 2024 | $56.7 | $72.7 | +28% |
| 2025 | $72.7 | $69.6 | -4.3% |
| 2026 YTD | $69.6 | $29.1 | -58% |
ZG's yearly returns have swung widely, from +214% in 2020 to −57% in 2021. It's down 58% so far in 2026.