Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
T-Mobile US Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 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).
An analysis of the liquidity position reveals a period of gradual improvement followed by a notable peak in early 2025 and a subsequent decline through mid-2026. The liquidity profile is characterized by fluctuating ratios that frequently oscillate around critical solvency thresholds.
- Current Ratio
- The current ratio exhibited a general upward trajectory from March 2022, moving from 0.81 to a peak of 1.21 by June 2025. A significant transition occurred between December 2023 and March 2024, where the ratio climbed above 0.90 and eventually surpassed 1.00, indicating a period where current assets exceeded current liabilities. However, a downward trend followed the June 2025 peak, with the ratio returning to 0.92 by June 2026.
- Quick Ratio
- The quick ratio followed a similar pattern to the current ratio but remained consistently lower, reflecting the impact of less liquid current assets. After fluctuating between 0.57 and 0.68 through 2022 and 2023, the ratio reached a maximum of 0.88 in March 2025. A sharp contraction is observed in the latter half of the period, with the ratio falling to 0.54 by June 2026, the lowest level recorded since December 2022.
- Cash Ratio
- The cash ratio demonstrated the highest degree of volatility among the three metrics. Starting at 0.15 in March 2022, it experienced several spikes, most notably reaching 0.51 in March 2025. This peak suggests a temporary surge in cash and cash equivalents relative to short-term obligations. This position reversed sharply thereafter, declining to 0.12 by June 2026, indicating a substantial reduction in immediate cash liquidity.
Overall, the data indicates a cyclical liquidity pattern. The window between September 2024 and June 2025 represented a period of strengthened liquidity across all measures. The subsequent decline suggests a strategic deployment of cash or an increase in short-term obligations, returning the liquidity ratios to levels consistent with the early 2022 baseline.
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Current Ratio
T-Mobile US Inc., current ratio calculation (quarterly data)
| Jun 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Current assets | 21,769) | 22,118) | 24,461) | 21,703) | 26,772) | 27,441) | 18,404) | 22,531) | 19,297) | 19,295) | 19,015) | 18,669) | 20,237) | 18,876) | 19,067) | 21,427) | 17,476) | 17,455) | ||||||
| Current liabilities | 23,554) | 20,344) | 24,500) | 24,301) | 22,102) | 23,629) | 20,174) | 20,955) | 23,038) | 20,563) | 20,928) | 21,711) | 24,569) | 23,846) | 24,742) | 26,362) | 20,622) | 21,423) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Current ratio1 | 0.92 | 1.09 | 1.00 | 0.89 | 1.21 | 1.16 | 0.91 | 1.08 | 0.84 | 0.94 | 0.91 | 0.86 | 0.82 | 0.79 | 0.77 | 0.81 | 0.85 | 0.81 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||
| AT&T Inc. | 0.97 | 0.92 | 0.91 | 1.01 | 0.81 | 0.70 | 0.66 | 0.73 | 0.70 | 0.68 | 0.71 | 0.69 | 0.68 | 0.51 | 0.59 | 0.62 | 0.70 | 0.93 | ||||||
| Verizon Communications Inc. | 0.60 | 0.64 | 0.91 | 0.74 | 0.64 | 0.61 | 0.63 | 0.66 | 0.63 | 0.71 | 0.69 | 0.68 | 0.73 | 0.75 | 0.75 | 0.75 | 0.76 | 0.76 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 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).
1 Q2 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 21,769 ÷ 23,554 = 0.92
2 Click competitor name to see calculations.
The analysis of short-term liquidity indicates a general improvement in the current ratio over the observed period, moving from a position where current liabilities consistently exceeded current assets to a more balanced liquidity profile.
- Current Asset Trends
- Current assets exhibited moderate volatility, beginning at 17,455 million USD in March 2022 and reaching a peak of 27,441 million USD in March 2025. Following this peak, a downward adjustment occurred, with assets settling at 21,769 million USD by June 2026.
- Current Liability Trends
- Current liabilities remained relatively stable, fluctuating between a high of 26,362 million USD in September 2022 and a low of 20,174 million USD in December 2024. There is a noticeable stabilization of obligations throughout 2023 and 2024, which contributed to the improvement in the overall liquidity ratio.
- Current Ratio Performance
- The current ratio remained below the 1.0 threshold for the duration of 2022 and 2023, reaching a period low of 0.77 in December 2022. A steady upward trend is observed through 2023, culminating in the ratio first exceeding 1.0 in September 2024 at 1.08. The ratio peaked at 1.21 in June 2025 before exhibiting further volatility, ending the period at 0.92 in June 2026. This pattern suggests an overall shift toward a stronger short-term solvency position, despite periodic fluctuations.
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Quick Ratio
T-Mobile US Inc., quick ratio calculation (quarterly data)
| Jun 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 2,825) | 3,520) | 5,598) | 3,310) | 10,259) | 12,003) | 5,409) | 9,754) | 6,417) | 6,708) | 5,135) | 5,030) | 6,647) | 4,540) | 4,507) | 6,888) | 3,151) | 3,245) | ||||||
| Accounts receivable, net of allowance for credit losses | 5,247) | 4,866) | 4,874) | 5,084) | 4,598) | 4,392) | 4,276) | 4,286) | 4,563) | 4,253) | 4,692) | 4,500) | 4,592) | 4,366) | 4,445) | 4,324) | 4,466) | 4,016) | ||||||
| Equipment installment plan receivables, net of allowance for credit losses and imputed discount | 4,715) | 4,935) | 4,997) | 4,599) | 4,226) | 4,294) | 4,379) | 3,595) | 3,776) | 4,059) | 4,456) | 4,470) | 4,779) | 5,012) | 5,123) | 5,048) | 5,129) | 5,061) | ||||||
| Total quick assets | 12,787) | 13,321) | 15,469) | 12,993) | 19,083) | 20,689) | 14,064) | 17,635) | 14,756) | 15,020) | 14,283) | 14,000) | 16,018) | 13,918) | 14,075) | 16,260) | 12,746) | 12,322) | ||||||
| Current liabilities | 23,554) | 20,344) | 24,500) | 24,301) | 22,102) | 23,629) | 20,174) | 20,955) | 23,038) | 20,563) | 20,928) | 21,711) | 24,569) | 23,846) | 24,742) | 26,362) | 20,622) | 21,423) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Quick ratio1 | 0.54 | 0.65 | 0.63 | 0.53 | 0.86 | 0.88 | 0.70 | 0.84 | 0.64 | 0.73 | 0.68 | 0.64 | 0.65 | 0.58 | 0.57 | 0.62 | 0.62 | 0.58 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||
| AT&T Inc. | 0.49 | 0.40 | 0.50 | 0.54 | 0.40 | 0.34 | 0.28 | 0.29 | 0.30 | 0.29 | 0.33 | 0.32 | 0.35 | 0.22 | 0.27 | 0.26 | 0.31 | 0.68 | ||||||
| Verizon Communications Inc. | 0.45 | 0.50 | 0.74 | 0.56 | 0.49 | 0.46 | 0.47 | 0.50 | 0.46 | 0.52 | 0.51 | 0.50 | 0.54 | 0.53 | 0.54 | 0.48 | 0.52 | 0.54 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 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).
1 Q2 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 12,787 ÷ 23,554 = 0.54
2 Click competitor name to see calculations.
The liquidity profile exhibits a cyclical pattern characterized by a multi-year strengthening phase followed by a notable contraction in the latter period. Throughout the entire analyzed timeframe, the quick ratio remained below 1.0, suggesting a consistent reliance on non-quick current assets or incoming cash flows to satisfy short-term obligations.
- Quick Asset Trends
- Quick assets displayed significant volatility, increasing from 12.3 billion USD in March 2022 to a peak of 20.7 billion USD by March 2025. Following this peak, a downward trajectory is observed, with assets declining to 12.8 billion USD by June 2026.
- Current Liability Management
- Current liabilities remained relatively stable, fluctuating between a minimum of 20.1 billion USD in December 2024 and a maximum of 26.4 billion USD in September 2022. The absence of a strong linear trend in liabilities indicates that fluctuations in the overall liquidity ratio were primarily driven by changes in the volume of quick assets.
- Quick Ratio Performance
- The quick ratio began at 0.58 in March 2022 and entered a period of gradual improvement, reaching a peak of 0.88 in March 2025. This represented the highest level of immediate liquidity during the period. Subsequently, a sharp contraction occurred, with the ratio falling to 0.53 by September 2025, before ending the period at 0.54 in June 2026.
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Cash Ratio
T-Mobile US Inc., cash ratio calculation (quarterly data)
| Jun 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 2,825) | 3,520) | 5,598) | 3,310) | 10,259) | 12,003) | 5,409) | 9,754) | 6,417) | 6,708) | 5,135) | 5,030) | 6,647) | 4,540) | 4,507) | 6,888) | 3,151) | 3,245) | ||||||
| Total cash assets | 2,825) | 3,520) | 5,598) | 3,310) | 10,259) | 12,003) | 5,409) | 9,754) | 6,417) | 6,708) | 5,135) | 5,030) | 6,647) | 4,540) | 4,507) | 6,888) | 3,151) | 3,245) | ||||||
| Current liabilities | 23,554) | 20,344) | 24,500) | 24,301) | 22,102) | 23,629) | 20,174) | 20,955) | 23,038) | 20,563) | 20,928) | 21,711) | 24,569) | 23,846) | 24,742) | 26,362) | 20,622) | 21,423) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Cash ratio1 | 0.12 | 0.17 | 0.23 | 0.14 | 0.46 | 0.51 | 0.27 | 0.47 | 0.28 | 0.33 | 0.25 | 0.23 | 0.27 | 0.19 | 0.18 | 0.26 | 0.15 | 0.15 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||
| AT&T Inc. | 0.33 | 0.24 | 0.34 | 0.38 | 0.22 | 0.14 | 0.07 | 0.06 | 0.07 | 0.08 | 0.13 | 0.15 | 0.18 | 0.05 | 0.07 | 0.05 | 0.08 | 0.47 | ||||||
| Verizon Communications Inc. | 0.03 | 0.12 | 0.31 | 0.13 | 0.06 | 0.04 | 0.06 | 0.08 | 0.04 | 0.04 | 0.04 | 0.08 | 0.09 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 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).
1 Q2 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 2,825 ÷ 23,554 = 0.12
2 Click competitor name to see calculations.
The analysis of liquidity metrics from March 2022 through June 2026 reveals a period of significant volatility in cash holdings, which directly influenced the company's ability to cover short-term obligations with its most liquid assets.
- Total Cash Assets Trend
- Cash assets exhibited a general upward trajectory for the first three years of the period, rising from $3.2 billion in March 2022 to a peak of $12.0 billion in March 2025. This growth was characterized by intermittent fluctuations, including a notable spike to $9.7 billion in September 2024. However, this accumulation was followed by a sharp contraction starting in the second half of 2025, with assets falling to $2.8 billion by June 2026.
- Current Liabilities Stability
- Current liabilities remained relatively stable throughout the observed timeframe, generally oscillating between a low of $20.1 billion in December 2024 and a high of $26.4 billion in September 2022. The lack of extreme variance in liabilities indicates that the fluctuations in liquidity ratios were driven primarily by changes in cash management and asset allocation rather than by significant shifts in the company's short-term debt or operational obligations.
- Cash Ratio Dynamics
- The cash ratio reflected the volatility of the cash assets, moving from 0.15 in early 2022 to a peak of 0.51 in March 2025. This peak represented the strongest immediate liquidity position during the analyzed period. Subsequently, a rapid decline occurred, with the ratio dropping to 0.14 in September 2025 and further descending to 0.12 by June 2026. This final figure represents the lowest point of immediate liquidity in the entire series, suggesting a significantly reduced cash buffer relative to current liabilities at the end of the period.
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