Stock Analysis on Net
Stock Analysis on Net

T-Mobile US Inc. (NASDAQ:TMUS)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

T-Mobile US Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Accounts payable 2.38 2.04 2.68 3.41 3.15
Payroll and related benefits 0.78 0.52 0.55 0.58 0.65
Property and other taxes, including payroll 0.73 0.73 0.82 0.78 0.89
Accrued interest 0.47 0.44 0.39 0.35 0.34
Other accrued liabilities 0.33 0.35 0.55 0.68 0.50
Accounts payable and accrued liabilities 4.69% 4.07% 4.99% 5.81% 5.52%
Short-term debt 2.34 1.96 1.74 2.44 1.64
Short-term debt to affiliates 0.00 0.00 0.00 0.00 1.09
Deferred revenue 0.70 0.59 0.40 0.37 0.41
Short-term operating lease liabilities 1.74 1.58 1.71 1.66 1.66
Short-term financing lease liabilities 0.53 0.56 0.61 0.55 0.54
Other current liabilities 1.17 0.94 0.62 0.88 0.52
Current liabilities 11.18% 9.70% 10.08% 11.71% 11.38%
Long-term debt 36.33 34.95 33.66 30.90 32.47
Long-term debt to affiliates 0.68 0.72 0.72 0.71 0.72
Tower obligations 1.61 1.76 1.82 1.86 1.36
Deferred tax liabilities 8.93 8.03 6.48 5.15 4.95
Long-term operating lease liabilities 12.03 12.69 13.60 14.13 12.50
Long-term financing lease liabilities 0.50 0.55 0.60 0.65 0.70
Other long-term liabilities 1.73 1.92 1.89 1.94 2.47
Long-term liabilities 61.82% 60.62% 58.76% 55.33% 55.17%
Total liabilities 73.00% 70.32% 68.84% 67.04% 66.55%
Common stock, par value $0.00001 per share 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 31.68 33.07 32.60 34.99 35.48
Treasury stock, at cost -13.93 -9.89 -4.51 -1.43 -0.01
Accumulated other comprehensive loss -0.39 -0.41 -0.46 -0.49 -0.66
Retained earnings (accumulated deficit) 9.64 6.91 3.54 -0.11 -1.36
Stockholders’ equity 27.00% 29.68% 31.16% 32.96% 33.45%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2025-12-31), 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).

The composition of liabilities and stockholders’ equity exhibited several notable shifts between 2021 and 2025. Overall, the proportion of total liabilities increased consistently over the five-year period, while stockholders’ equity decreased. This indicates a growing reliance on debt financing relative to equity.

Current Liabilities
Current liabilities as a percentage of the total remained relatively stable, fluctuating between 9.70% and 11.71% over the period. However, within this category, accounts payable and accrued liabilities decreased from 5.52% to 4.07% before rising to 4.69% in 2025. Short-term debt increased from 1.64% to 2.34% over the period, with a notable jump in 2022. Other current liabilities showed a marked increase from 0.52% to 1.17%.
Long-Term Liabilities
Long-term liabilities demonstrated a consistent upward trend, increasing from 55.17% in 2021 to 61.82% in 2025. Long-term debt contributed significantly to this increase, rising from 32.47% to 36.33%. Deferred tax liabilities also increased substantially, moving from 4.95% to 8.93%. Long-term operating lease liabilities also showed a consistent, though less dramatic, increase from 12.50% to 12.03%.
Stockholders’ Equity
Stockholders’ equity experienced a consistent decline as a percentage of the total, decreasing from 33.45% in 2021 to 27.00% in 2025. This decline was primarily driven by a significant increase in treasury stock, moving from -0.01% to -13.93%. Accumulated other comprehensive loss remained relatively stable, while additional paid-in capital decreased from 35.48% to 31.68%. Retained earnings showed a substantial positive shift, moving from -1.36% to 9.64%, indicating increasing profitability and reinvestment of earnings, though not enough to offset the impact of treasury stock.
Specific Liability Accounts
Accounts payable decreased from 3.15% to 2.38% over the period, suggesting improved management of supplier payments or a change in purchasing practices. Accrued interest showed a steady increase from 0.34% to 0.47%, potentially reflecting higher borrowing costs or increased debt levels. Deferred revenue experienced a modest increase, from 0.41% to 0.70%, indicating a growing base of unearned revenue.

The observed trends suggest a strategic shift towards increased leverage and a reduction in equity. The growing proportion of long-term liabilities, particularly long-term debt and deferred tax liabilities, coupled with the decrease in stockholders’ equity, warrants further investigation into the company’s capital structure and financial risk profile.

AI Ask an analyst for more