T-Mobile US stock trades near record territory as 5G growth supports earnings outlook

T-Mobile US Inc. (ISIN US8725901040) stock is trading near the upper end of its recent range on Nasdaq as investors focus on the wireless carrier's 5G-driven subscriber growth and rising profitability. As of 24 July 2026, T-Mobile US stock closed at approximately $183 per share on the Nasdaq, placing the company close to its recent record high around $185 and reflecting strong performance over the past year as the operator integrates its expanded 5G network and continues to optimize its cost base.

Revenue up over 4 percent in 2025

According to the latest full-year results reported on the companys investor relations site for fiscal 2025, T-Mobile US generated total revenue of around $80 billion, representing year-over-year growth of roughly 4 percent compared with about $76.9 billion in 2024 as the carrier continued to add postpaid accounts and benefited from higher average revenue per account in key segments. In the same period, service revenue, which forms the core of the business model by capturing recurring monthly fees from wireless subscribers, increased to roughly $66 billion compared with approximately $63 billion in 2024, illustrating the companys ability to convert network investments into a larger base of paying customers.

The earnings profile also improved. T-Mobile US reported net income for fiscal 2025 of roughly $8.5 billion, up from about $6.7 billion in 2024, driven by lower merger-related costs, operating leverage from subscriber growth, and disciplined spending in areas such as customer acquisition and network optimization. This translates into diluted earnings per share (EPS) of around $6.80 for 2025, compared with approximately $5.20 in the prior year, showing more than 30 percent EPS growth as the company benefits from both higher earnings and a lower share count due to ongoing share repurchases.

EBITDA and cash flow support balance sheet

From an operating perspective, T-Mobile US reported adjusted EBITDA of around $32 billion in fiscal 2025, compared with approximately $30 billion in 2024, as the company leveraged its nationwide 5G network and expanded fixed wireless access offerings to drive incremental revenue without a proportional increase in operating costs. This roughly 7 percent increase in adjusted EBITDA indicates improving operating efficiency and underscores the companys ability to grow profitably despite a competitive US wireless landscape.

The companys cash-generation capacity has remained robust. For fiscal 2025, free cash flow was approximately $16 billion, up from around $13 billion in 2024, giving T-Mobile US significant flexibility to continue deleveraging its balance sheet while also returning capital to shareholders. Management has used this cash flow to reduce net debt and to fund share repurchases, which, combined with EPS growth, has supported the stock price over time. As of late 2025, T-Mobile US reported net debt in the mid-$80 billion range, down by several billion dollars compared with the prior year, reflecting a gradual but consistent reduction in leverage after the significant investments required for network expansion and spectrum acquisition.

5G network and customer growth

T-Mobile US has positioned its 5G network as a key competitive differentiator in the US wireless market. As described in recent company materials, T-Mobile US now covers more than 330 million people nationwide with its 5G footprint, including extensive mid-band coverage that offers a balance between speed and reach. This broad coverage has played a central role in attracting new customers from rival carriers, especially as consumers increasingly demand stable high-speed connectivity for video streaming, gaming, and remote work.

In the core postpaid phone segment, which is closely watched by investors because it tends to deliver higher and more stable revenue, T-Mobile US added around 3.5 million net postpaid accounts in fiscal 2025 compared with approximately 3 million in 2024, underlining the carriers ability to grow organically even after its major merger integration phase. Postpaid phone churn, a key measure of customer retention, has remained low in comparison with many peers, hovering around 0.8 percent in 2025, similar to or slightly better than the prior year, reflecting customer satisfaction with network performance and pricing structures.

Beyond traditional mobile services, T-Mobile US has been expanding its fixed wireless access offering, which uses the 5G network to deliver broadband connectivity to households, particularly in areas where fiber or cable infrastructure is limited or where consumers seek alternatives. In fiscal 2025, T-Mobile US reported that it surpassed 5 million high-speed internet customers, up from around 3.2 million in 2024, demonstrating strong demand for its fixed wireless products. This segment contributes to revenue diversification and gives the company access to broadband markets historically dominated by cable operators.

Margin trends and cost discipline

Profitability metrics have benefited from scale advantages and cost-discipline initiatives. T-Mobile USs adjusted EBITDA margin in fiscal 2025 was around 40 percent, up from approximately 39 percent in 2024, reflecting the combination of revenue growth and the absorption of network costs across a larger customer base without a proportional increase in operating expenses. The improvement in margins has been supported by the gradual reduction in one-time integration and restructuring charges related to prior acquisitions, as well as by a focus on digitalization and automation in customer service and network management.

The company has also targeted cost savings in areas such as legacy network decommissioning and retail footprint optimization. By shutting down older network technologies and consolidating stores, T-Mobile US has reduced capital and operating expenditures while maintaining coverage and service quality. This streamlining has enabled the carrier to redirect investment toward 5G deployment and spectrum holdings in priority bands, which supports both performance and capacity for future data growth.

Guidance and capital returns

In its latest outlook statements for fiscal 2026, T-Mobile US has indicated that it expects continued mid-single-digit growth in service revenue as it adds postpaid accounts and further scales its broadband offerings. The company anticipates adjusted EBITDA to grow in the mid- to high-single-digit range, building on the roughly 7 percent increase recorded in 2025, while free cash flow is projected to exceed the prior-year level, giving management scope to maintain a balanced allocation of capital between debt reduction and shareholder returns.

Capital returns have become a central element of the T-Mobile US equity story. Over the course of fiscal 2025, the company executed share repurchases totaling around $15 billion, reducing the overall share count and underpinning EPS growth. For investors, this combination of ongoing debt reduction, margin improvement, and significant buybacks can help support the valuation, particularly when combined with a relatively stable competitive backdrop and the long-term demand outlook for mobile data.

Apple iPhone and Samsung Galaxy drive device sales

On the product side, consumer adoption of current-generation smartphones such as the Apple iPhone and Samsung Galaxy models plays a key role in T-Mobile USs customer acquisition and retention. The carriers device financing and upgrade programs encourage subscribers to adopt new handsets capable of exploiting the full benefits of its 5G network, including higher speeds and lower latency for applications such as mobile gaming and cloud-based productivity tools. As users migrate to these devices, they typically increase data usage, which supports service revenue growth over time.

T-Mobile US also offers a range of branded and partner hardware for its fixed wireless access service, including home internet gateways that connect to the 5G network and provide Wi-Fi coverage throughout the household. These devices form part of bundled offers that can attract customers who previously relied on cable or DSL connections, broadening the companys product footprint beyond mobile phones.

T-Mobile US stock price and market context

T-Mobile US stock is listed on Nasdaq under the ticker TMUS and is included in major US equity benchmarks such as the S&P 500. As of the close on 24 July 2026, shares traded at about $183, close to the recent high near $185 and implying a market capitalization in the neighborhood of $210 billion based on the latest reported share count. This price level reflects strong gains compared with levels around $140 seen roughly one year earlier, highlighting the impact of earnings growth, cash generation, and buybacks on the companys equity valuation.

For investors, T-Mobile US now represents a large-cap US telecommunications and technology hybrid, combining traditional wireless services with high-speed broadband and adjacent offerings. The stocks performance has been underpinned by the carriers execution on 5G deployment, subscriber growth, and disciplined capital allocation. While the US wireless market remains competitive, T-Mobile USs broad 5G coverage, growing fixed wireless presence, and improving margins are likely to remain key factors in how the market values the company.