T-Mobile US Inc., FCFE calculation

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net income	11,339)	8,317)	2,590)	3,024)	3,064)
Net noncash charges	17,963)	17,300)	17,246)	18,007)	17,461)
Changes in operating assets and liabilities	(7,009)	(7,058)	(3,055)	(7,114)	(11,885)
Net cash provided by operating activities	22,293)	18,559)	16,781)	13,917)	8,640)
Purchases of property and equipment, including capitalized interest	(8,840)	(9,801)	(13,970)	(12,326)	(11,034)
Purchases of spectrum licenses and other intangible assets, including deposits	(3,471)	(1,010)	(3,331)	(9,366)	(1,333)
Proceeds from issuance of long-term debt	8,587)	8,446)	3,714)	14,727)	35,337)
Payments of consent fees related to long-term debt	—)	—)	—)	—)	(109)
Repayments of financing lease obligations	(1,367)	(1,227)	(1,239)	(1,111)	(1,021)
Repayments of short-term debt for purchases of inventory, property and equipment and other financial liabilities	—)	—)	—)	(184)	(481)
Repayments of long-term debt	(5,073)	(5,051)	(5,556)	(11,100)	(20,416)
Proceeds from issuance of short-term debt	—)	—)	—)	—)	18,743)
Repayments of short-term debt	—)	—)	—)	—)	(18,929)
Cash payments for debt prepayment or debt extinguishment costs	—)	—)	—)	(116)	(82)
Free cash flow to equity (FCFE)	12,129)	9,916)	(3,601)	(5,559)	9,315)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to T-Mobile US Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	T-Mobile US Inc. FCFE increased from 2022 to 2023 and from 2023 to 2024.

T-Mobile US Inc., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding	1,141,744,952
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)	12,129)
FCFE per share	10.62
Current share price (P)	264.56
Valuation Ratio
P/FCFE	24.90
Benchmarks
P/FCFE, Competitors¹
AT&T Inc.	32.40
Verizon Communications Inc.	13.56
P/FCFE, Sector
Telecommunication Services	21.47
P/FCFE, Industry
Communication Services	24.22

Based on: 10-K (reporting date: 2024-12-31).

¹ Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

T-Mobile US Inc., historical P/FCFE calculation, comparison to benchmarks

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
No. shares of common stock outstanding¹	1,141,744,952	1,186,867,575	1,219,383,110	1,249,289,954	1,242,804,085
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)²	12,129)	9,916)	(3,601)	(5,559)	9,315)
FCFE per share³	10.62	8.35	-2.95	-4.45	7.50
Share price^1, 4	232.97	161.78	147.49	124.48	119.22
Valuation Ratio
P/FCFE⁵	21.93	19.36	—	—	15.91
Benchmarks
P/FCFE, Competitors⁶
AT&T Inc.	29.20	6.16	—	3.57	10.51
Verizon Communications Inc.	12.29	15.64	11.68	—	6.75
P/FCFE, Sector
Telecommunication Services	19.18	11.95	—	16.08	9.24
P/FCFE, Industry
Communication Services	27.40	21.97	31.82	26.52	20.51

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

¹ Data adjusted for splits and stock dividends.

² See details »

³ 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 12,129,000,000 ÷ 1,141,744,952 = 10.62

⁴ Closing price as at the filing date of T-Mobile US Inc. Annual Report.

⁵ 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 232.97 ÷ 10.62 = 21.93

⁶ Click competitor name to see calculations.

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T-Mobile US Inc. (NASDAQ:TMUS)

Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)

Price to FCFE Ratio, Current

Price to FCFE Ratio, Historical