Stock Analysis on Net
Stock Analysis on Net

T-Mobile US Inc. (NASDAQ:TMUS)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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T-Mobile US Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

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
Accounts payable and accrued liabilities
Short-term debt
Short-term debt to affiliates
Deferred revenue
Short-term operating lease liabilities
Short-term financing lease liabilities
Other current liabilities
Current liabilities
Long-term debt
Long-term debt to affiliates
Tower obligations
Deferred tax liabilities
Long-term operating lease liabilities
Long-term financing lease liabilities
Other long-term liabilities
Long-term liabilities
Total liabilities
Common stock, par value $0.00001 per share
Additional paid-in capital
Treasury stock, at cost
Accumulated other comprehensive loss
Retained earnings (accumulated deficit)
Stockholders’ equity
Total liabilities and stockholders’ equity

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 overall liability profile reflects a sustained increase in long-term obligations, transitioning from total liabilities of 136,955 million USD in March 2021 to 158,788 million USD by March 2026. This expansion is primarily driven by a strategic increase in long-term borrowing and a consistent rise in deferred tax obligations, while current liabilities have remained relatively stable with periodic fluctuations.

Long-Term Debt and Obligations
Long-term debt exhibited a steady upward trajectory, rising from 66,395 million USD in early 2021 to a peak of 83,809 million USD by March 2026. This represents a significant increase in the company's long-term leverage. Simultaneously, deferred tax liabilities showed a near-linear increase, doubling from 10,154 million USD in March 2021 to 20,266 million USD by March 2026, suggesting a growing gap between accounting and taxable income over the analyzed period.
Current Liabilities and Liquidity
Current liabilities fluctuated between 19,000 million USD and 26,000 million USD. A notable peak occurred in September 2022 at 26,362 million USD, followed by a gradual decline and stabilization around 20,344 million USD by March 2026. Accounts payable and accrued liabilities showed significant volatility, peaking in December 2021 at 11,405 million USD before declining and recovering to 9,522 million USD by the end of the period.
Lease Obligations
Long-term operating lease liabilities experienced a general downward trend, decreasing from 26,602 million USD in March 2021 to 25,856 million USD in March 2026, indicating a gradual reduction in the present value of long-term lease commitments.

Stockholders' equity has followed a divergent path, characterized by strong operational profitability offset by aggressive capital return strategies. Total stockholders' equity declined from 66,377 million USD in March 2021 to 55,879 million USD in March 2026.

Profitability and Retained Earnings
A significant turnaround in retained earnings is observed, moving from an accumulated deficit of 4,903 million USD in March 2021 to a substantial surplus of 22,541 million USD by March 2026. This shift indicates a transition to consistent and significant quarterly net profitability.
Treasury Stock and Share Repurchases
The decline in total equity is primarily attributed to a massive expansion in treasury stock. The cost of repurchased shares rose from a negligible 14 million USD in March 2021 to 35,497 million USD by March 2026. The scale of these buybacks has more than offset the growth in retained earnings, effectively reducing the equity base.
Capital Structure Shift
The combined effect of increasing long-term debt and decreasing stockholders' equity indicates a strategic shift toward a more highly levered capital structure. The company has increasingly relied on debt and share repurchases to optimize its balance sheet and return value to shareholders.