15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $1.1B | $20M | 0.0% | -9.1% | $199M | — | $766M |
| 2024 | $1.2B | -$26M | 0.0% | -16.3% | $780M | — | $364M |
| 2023 | $1.2B | -$487M | 0.0% | -55.6% | $498M | — | $236M |
| 2022 | $5.3B | $72M | 0.0% | 2.3% | -$6M | — | $360M |
| 2021 | $5.2B | $188M | 0.0% | 5.0% | -$28M | — | $367M |
| 2020 | $5.1B | $226M | 0.0% | 5.1% | $194M | — | $1.4B |
| 2019 | $5.1B | $121M | 0.0% | 3.5% | — | — | $465M |
| 2018 | $5.0B | $135M | 0.0% | 4.1% | — | — | $921M |
| 2017 | — | $153M | — | — | — | — | $619M |
| 2016 | — | $43M | — | — | — | — | $900M |
| 2015 | — | $219M | — | — | — | — | $985M |
| 2014 | — | -$136M | — | — | — | — | $472M |
| 2013 | — | $142M | — | — | — | — | $830M |
| 2012 | — | $82M | — | — | — | — | $740M |
| 2011 | — | $201M | — | — | — | — | $563M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $258M | $145M | 0.0% | 55.8% | -$82M | — | $1.4B |
| Dec '25 | $275M | $56M | 0.0% | 6.1% | -$109M | — | $766M |
| Sep '25 | $262M | -$82M | 0.0% | -26.0% | -$13M | — | $933M |
| Jun '25 | $1.2B | $12M | 0.0% | 3.5% | $264M | — | $540M |
| Mar '25 | $263M | $7M | 0.0% | -12.9% | $121M | — | $348M |
| Dec '24 | $271M | $6M | 0.0% | 6.2% | $117M | — | $364M |
| Sep '24 | $297M | -$66M | 0.0% | -50.4% | $489M | — | $451M |
| Jun '24 | $1.2B | $3M | 0.0% | 3.2% | $186M | — | $322M |
| Mar '24 | $1.2B | $29M | 0.0% | 5.4% | -$11M | — | $249M |
| Dec '23 | $1.3B | -$506M | 0.0% | -40.9% | -$86M | — | $236M |
| Sep '23 | $1.2B | $0 | 0.0% | 3.8% | $132M | — | $256M |
| Jun '23 | $1.2B | -$2M | 0.0% | 2.7% | $170M | — | $251M |
| Mar '23 | $1.3B | $8M | 0.0% | 2.3% | -$285M | — | $259M |
| Dec '22 | $1.3B | -$25M | 0.0% | -1.9% | -$113M | — | $360M |
| Sep '22 | $1.4B | -$8M | 0.0% | -0.8% | -$101M | — | $442M |
| Jun '22 | $1.3B | $35M | 0.0% | 4.8% | $98M | — | $466M |
| Mar '22 | $1.3B | $61M | 0.0% | 7.4% | $110M | — | $549M |
| Dec '21 | $1.3B | $30M | 0.0% | 1.8% | -$165M | — | $367M |
| Sep '21 | $1.3B | $40M | 0.0% | 5.3% | — | — | $725M |
| Jun '21 | $1.3B | $27M | 0.0% | 4.5% | — | — | $385M |
How the market has priced TDS against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Telephone & Data Systems Inc /De/'s revenue has declined 26.9% per year, and net income declined 38.3% per year. These are computed facts, not advice.
As of FY2025, Telephone & Data Systems Inc /De/ reported — of total debt against $766M of cash; operating income covered interest expense -0.9×.
In FY2025, gross margin was —, operating margin -9.1%, and net margin 1.9%.
As of Jun '26, Telephone & Data Systems Inc /De/ traded at a price-to-earnings ratio of about 209.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.