Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.

Solvency Ratios (Summary)
Debt to Equity
Debt to Equity (including Operating Lease Liability)
Debt to Capital
Debt to Capital (including Operating Lease Liability)
Debt to Assets
Debt to Assets (including Operating Lease Liability)
Financial Leverage
Interest Coverage

T-Mobile US Inc., solvency ratios (quarterly data)

		Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Debt Ratios
	Debt to equity
	Debt to equity (including operating lease liability)
	Debt to capital
	Debt to capital (including operating lease liability)
	Debt to assets
	Debt to assets (including operating lease liability)
	Financial leverage
	Coverage Ratios
	Interest coverage

Solvency ratio	Description	The company
Debt to equity ratio	A solvency ratio calculated as total debt divided by total shareholders’ equity.	T-Mobile US Inc.’s debt to equity ratio improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Debt to equity (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.	T-Mobile US Inc.’s debt to equity ratio (including operating lease liability) improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Debt to capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.	T-Mobile US Inc.’s debt to capital ratio improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Debt to capital (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity.	T-Mobile US Inc.’s debt to capital ratio (including operating lease liability) improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Debt to assets ratio	A solvency ratio calculated as total debt divided by total assets.	T-Mobile US Inc.’s debt to assets ratio improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Debt to assets (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total assets.	T-Mobile US Inc.’s debt to assets ratio (including operating lease liability) improved from Q1 2019 to Q2 2019 but then slightly deteriorated from Q2 2019 to Q3 2019.
Financial leverage ratio	A solvency ratio calculated as total assets divided by total shareholders’ equity.	T-Mobile US Inc.’s financial leverage ratio decreased from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Solvency ratio	Description	The company
Interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments.	T-Mobile US Inc.’s interest coverage ratio improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

T-Mobile US Inc., debt to equity calculation (quarterly data)

		Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Short-term debt
	Short-term debt to affiliates
	Short-term financing lease liabilities
	Long-term debt
	Long-term debt to affiliates
	Long-term financing lease liabilities
	Total debt

	Stockholders’ equity
	Solvency Ratio
	Debt to equity¹

¹ Q3 2019 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= hidden ÷ hidden = hidden

Solvency ratio	Description	The company
Debt to equity ratio	A solvency ratio calculated as total debt divided by total shareholders’ equity.	T-Mobile US Inc.’s debt to equity ratio improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

T-Mobile US Inc., debt to equity (including operating lease liability) calculation (quarterly data)

		Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Short-term debt
	Short-term debt to affiliates
	Short-term financing lease liabilities
	Long-term debt
	Long-term debt to affiliates
	Long-term financing lease liabilities
	Total debt
	Short-term operating lease liabilities
	Long-term operating lease liabilities
	Total debt (including operating lease liability)

	Stockholders’ equity
	Solvency Ratio
	Debt to equity (including operating lease liability)¹

¹ Q3 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= hidden ÷ hidden = hidden

Solvency ratio	Description	The company
Debt to equity (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.	T-Mobile US Inc.’s debt to equity ratio (including operating lease liability) improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

T-Mobile US Inc., debt to capital calculation (quarterly data)

		Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Short-term debt
	Short-term debt to affiliates
	Short-term financing lease liabilities
	Long-term debt
	Long-term debt to affiliates
	Long-term financing lease liabilities
	Total debt
	Stockholders’ equity
	Total capital
	Solvency Ratio
	Debt to capital¹

¹ Q3 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= hidden ÷ hidden = hidden

Solvency ratio	Description	The company
Debt to capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.	T-Mobile US Inc.’s debt to capital ratio improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

T-Mobile US Inc., debt to capital (including operating lease liability) calculation (quarterly data)

		Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Short-term debt
	Short-term debt to affiliates
	Short-term financing lease liabilities
	Long-term debt
	Long-term debt to affiliates
	Long-term financing lease liabilities
	Total debt
	Short-term operating lease liabilities
	Long-term operating lease liabilities
	Total debt (including operating lease liability)
	Stockholders’ equity
	Total capital (including operating lease liability)
	Solvency Ratio
	Debt to capital (including operating lease liability)¹

¹ Q3 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= hidden ÷ hidden = hidden

Solvency ratio	Description	The company
Debt to capital (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity.	T-Mobile US Inc.’s debt to capital ratio (including operating lease liability) improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

T-Mobile US Inc., debt to assets calculation (quarterly data)

		Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Short-term debt
	Short-term debt to affiliates
	Short-term financing lease liabilities
	Long-term debt
	Long-term debt to affiliates
	Long-term financing lease liabilities
	Total debt

	Total assets
	Solvency Ratio
	Debt to assets¹

¹ Q3 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= hidden ÷ hidden = hidden

Solvency ratio	Description	The company
Debt to assets ratio	A solvency ratio calculated as total debt divided by total assets.	T-Mobile US Inc.’s debt to assets ratio improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

T-Mobile US Inc., debt to assets (including operating lease liability) calculation (quarterly data)

		Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Short-term debt
	Short-term debt to affiliates
	Short-term financing lease liabilities
	Long-term debt
	Long-term debt to affiliates
	Long-term financing lease liabilities
	Total debt
	Short-term operating lease liabilities
	Long-term operating lease liabilities
	Total debt (including operating lease liability)

	Total assets
	Solvency Ratio
	Debt to assets (including operating lease liability)¹

¹ Q3 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= hidden ÷ hidden = hidden

Solvency ratio	Description	The company
Debt to assets (including operating lease liability) ratio	A solvency ratio calculated as total debt (including operating lease liability) divided by total assets.	T-Mobile US Inc.’s debt to assets ratio (including operating lease liability) improved from Q1 2019 to Q2 2019 but then slightly deteriorated from Q2 2019 to Q3 2019.

T-Mobile US Inc., financial leverage calculation (quarterly data)

		Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Total assets
	Stockholders’ equity
	Solvency Ratio
	Financial leverage¹

¹ Q3 2019 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= hidden ÷ hidden = hidden

Solvency ratio	Description	The company
Financial leverage ratio	A solvency ratio calculated as total assets divided by total shareholders’ equity.	T-Mobile US Inc.’s financial leverage ratio decreased from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

T-Mobile US Inc., interest coverage calculation (quarterly data)

		Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (US$ in millions)
	Net income (loss)
	Add: Income tax expense
	Add: Interest expense
	Earnings before interest and tax (EBIT)
	Solvency Ratio
	Interest coverage¹

¹ Q3 2019 Calculation
Interest coverage = (EBIT_{Q3 2019} + EBIT_{Q2 2019} + EBIT_{Q1 2019} + EBIT_{Q4 2018}) ÷ (Interest expense_{Q3 2019} + Interest expense_{Q2 2019} + Interest expense_{Q1 2019} + Interest expense_{Q4 2018})
= ( hidden + hidden + hidden + hidden ) ÷ ( hidden + hidden + hidden + hidden ) = hidden

Solvency ratio	Description	The company
Interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments.	T-Mobile US Inc.’s interest coverage ratio improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

	T-Mobile US Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Analysis of Financial Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis of Components of Financial Statements
Financial Reporting Quality

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Financial Statements
Common-Size Financial Statements
Analysis of Financial Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis of Components of Financial Statements
Financial Reporting Quality

T-Mobile US Inc. (TMUS)

Analysis of Solvency Ratios
Quarterly Data

Solvency Ratios (Summary)

Debt to Equity

Debt to Equity (including Operating Lease Liability)

Debt to Capital

Debt to Capital (including Operating Lease Liability)

Debt to Assets

Debt to Assets (including Operating Lease Liability)

Financial Leverage

Interest Coverage