Stock Analysis on Net
Stock Analysis on Net

T-Mobile US Inc. (NASDAQ:TMUS)

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Common-Size Balance Sheet: Assets
Quarterly Data

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T-Mobile US Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents
Accounts receivable, net of allowance for credit losses
Equipment installment plan receivables, net of allowance for credit losses and imputed discount
Inventory
Prepaid expenses
Other current assets
Current assets
Property and equipment, net
Financing lease right-of-use assets
Property and equipment, net, including financing lease right-of-use assets
Operating lease right-of-use assets
Goodwill
Spectrum licenses
Other intangible assets, net
Intangible assets, net
Equipment installment plan receivables due after one year, net of allowance for credit losses and imputed discount
Other assets
Long-term assets
Total assets

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

The asset structure is characterized by a heavy concentration in long-term assets, which consistently account for between 87% and 92% of the total balance sheet. The dominant component of the asset base is intangible assets, specifically spectrum licenses, while current assets represent a relatively small and fluctuating portion of the total asset mix.

Liquidity and Current Asset Trends
Current assets typically range from 8% to 13% of total assets. Cash and cash equivalents exhibit significant volatility, with a notable peak of 5.59% in March 2025, contrasted by lows near 1.5% in mid-2022. Accounts receivable and equipment installment plan receivables remain stable, generally holding between 1.7% and 2.4%. A distinct upward trend is observed in other current assets, which grew from 0.87% in March 2021 to 2.52% by March 2026.
Fixed and Lease Asset Analysis
A gradual downward trend is evident in physical infrastructure. Property and equipment, net, declined from 19.94% in March 2021 to 17.36% by March 2026. Operating lease right-of-use assets followed a similar trajectory, decreasing from 13.67% to 11.66% over the same period. Financing lease right-of-use assets remained relatively stable, fluctuating slightly between 1.26% and 1.71%.
Intangible Asset Concentration
Intangible assets constitute the largest portion of the balance sheet, often exceeding 45% of total assets. Spectrum licenses are the primary driver of this concentration, increasing from 40.77% in March 2021 to a peak of 48.34% in December 2024, before ending at 45.45% in March 2026. Goodwill has remained consistently stable, hovering between 5.46% and 6.37%. Other intangible assets show a general decline, moving from 2.41% at the start of the period to 1.66% at the end.
Overall Asset Composition Shift
The data indicates a strategic shift in the asset mix, where the relative weight of physical property and operating leases has decreased in favor of spectrum licenses and other current assets. While long-term assets continue to dominate the balance sheet, the internal composition has moved toward more intangible, license-based value and a slight increase in current asset flexibility toward the end of the reporting period.