Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
T-Mobile US Inc., profitability 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).
The profitability trajectory exhibits a distinct three-phase pattern: an initial period of volatility, a sustained phase of aggressive expansion in margins and returns, and a subsequent period of stabilization. Overall, the company transitioned from a low-margin environment in 2022 to a significantly more efficient operational structure by 2025, before experiencing a slight moderation in the 2026 forecast period.
- Gross Profit Margin
- A consistent upward trend is observed from March 2022 (53.09%) through December 2023, where the margin peaked at 61.57%. This expansion continued into 2024, reaching a maximum of 63.76% by December 31, 2024. A marginal decline is evident starting in 2025, with the margin settling at 62.19% by June 2026, indicating a stabilization of core production costs relative to revenue.
- Operating and Net Profit Margins
- Operational efficiency shows the most dramatic improvement. The operating profit margin rose from a low of 6.07% in September 2022 to a peak of 23.08% in June 2025. Similarly, the net profit margin climbed from 1.92% in September 2022 to 14.53% in June 2025. The strong correlation between these two metrics suggests that the increase in bottom-line profitability was driven primarily by gains in operational efficiency and scale rather than non-operating income.
- Return on Equity (ROE) and Return on Assets (ROA)
- Returns on invested capital followed the trajectory of the profit margins. ROE experienced a significant ascent, moving from 2.19% in September 2022 to a peak of 19.99% in June 2025. ROA mirrors this growth, increasing from 0.72% in the same 2022 trough to 5.74% in June 2025. While both metrics declined slightly in late 2025 and 2026, they remained substantially higher than 2022 levels, with ROE stabilizing around 18.77% and ROA around 4.94%.
The convergence of these ratios indicates a period of rapid margin expansion and improved asset utilization between early 2023 and mid-2025. The slight cooling of these ratios in the final quarters suggests the company has reached a maturity phase in its current operational cycle, shifting from aggressive growth in profitability to a phase of maintenance and stability.
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Return on Sales
Return on Investment
Gross Profit Margin
T-Mobile US Inc., gross profit margin 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) | ||||||||||||||||||||||||
| Gross profit | 14,758) | 14,280) | 14,062) | 14,231) | 13,756) | 13,486) | 13,087) | 13,133) | 13,020) | 12,507) | 12,078) | 12,117) | 12,192) | 11,983) | 11,602) | 10,783) | 10,533) | 10,447) | ||||||
| Revenues | 22,791) | 23,107) | 24,334) | 21,957) | 21,132) | 20,886) | 21,872) | 20,162) | 19,772) | 19,594) | 20,478) | 19,252) | 19,196) | 19,632) | 20,273) | 19,477) | 19,701) | 20,120) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||
| Gross profit margin1 | 62.19% | 62.22% | 62.89% | 63.55% | 63.61% | 63.76% | 63.57% | 63.42% | 62.86% | 62.27% | 61.57% | 61.13% | 59.25% | 56.78% | 54.50% | 52.57% | 52.67% | 53.09% | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||
| AT&T Inc. | 59.72% | 59.41% | 59.55% | 59.67% | 59.67% | 59.90% | 59.77% | 59.91% | 59.61% | 59.33% | 59.06% | 59.11% | 58.89% | 58.37% | 57.89% | 56.22% | 55.29% | 53.79% | ||||||
| Verizon Communications Inc. | 59.26% | 58.76% | 58.92% | 59.41% | 59.35% | 59.88% | 59.87% | 59.95% | 59.80% | 59.52% | 59.03% | 58.64% | 58.05% | 57.20% | 56.79% | 56.97% | 57.35% | 57.46% | ||||||
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
Gross profit margin = 100
× (Gross profitQ2 2026
+ Gross profitQ1 2026
+ Gross profitQ4 2025
+ Gross profitQ3 2025)
÷ (RevenuesQ2 2026
+ RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025)
= 100 × (14,758 + 14,280 + 14,062 + 14,231)
÷ (22,791 + 23,107 + 24,334 + 21,957)
= 62.19%
2 Click competitor name to see calculations.
The company demonstrates a sustained increase in absolute gross profit over the analyzed period, characterized by a significant phase of margin expansion followed by a period of stabilization and slight contraction.
- Gross Profit Trajectory
- Gross profit shows a consistent long-term upward trend, rising from 10,447 million USD in March 2022 to 14,758 million USD by June 2026. While there are minor quarterly fluctuations, the overall movement indicates a steady growth in the company's ability to generate profit after accounting for the cost of sales.
- Gross Profit Margin Expansion
- The gross profit margin underwent a notable transformation between 2022 and 2025. Following a period of relative stability in early 2022 where margins remained between 52.57% and 53.09%, a strong expansion phase began in December 2022. The margin climbed steadily from 54.50% in December 2022 to a peak of 63.76% in March 2025, representing a substantial improvement in operational efficiency and cost management relative to revenue.
- Revenue and Margin Correlation
- Revenue exhibited volatility throughout the period, with a significant peak of 24,334 million USD in December 2025. Interestingly, the gross profit margin reached its apex in March 2025 (63.76%) prior to the highest revenue peak. This suggests that the most efficient period of cost-to-revenue conversion occurred before the maximum scale of revenue was achieved.
- Recent Margin Trends
- A gradual downward trend in the gross profit margin is observable from March 2025 through June 2026, with the ratio declining from 63.76% to 62.19%. This contraction occurs despite the continued growth in absolute gross profit, indicating that cost of sales increased at a slightly higher rate than revenue growth during the final quarters of the analyzed period.
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Operating Profit Margin
T-Mobile US Inc., operating profit margin 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) | ||||||||||||||||||||||||
| Operating income | 5,490) | 4,497) | 3,736) | 4,530) | 5,213) | 4,800) | 4,586) | 4,796) | 4,630) | 3,998) | 3,480) | 3,596) | 3,793) | 3,397) | 2,747) | 1,281) | 709) | 1,806) | ||||||
| Revenues | 22,791) | 23,107) | 24,334) | 21,957) | 21,132) | 20,886) | 21,872) | 20,162) | 19,772) | 19,594) | 20,478) | 19,252) | 19,196) | 19,632) | 20,273) | 19,477) | 19,701) | 20,120) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||
| Operating profit margin1 | 19.80% | 19.86% | 20.70% | 22.28% | 23.08% | 22.75% | 22.13% | 21.13% | 19.85% | 18.93% | 18.16% | 17.27% | 14.28% | 10.29% | 8.22% | 6.07% | 6.43% | 8.15% | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||
| AT&T Inc. | 20.12% | 19.81% | 19.23% | 19.04% | 15.89% | 15.42% | 15.57% | 15.56% | 18.54% | 19.05% | 19.16% | -2.38% | -2.20% | -3.40% | -3.80% | 16.73% | 16.34% | 13.72% | ||||||
| Verizon Communications Inc. | 20.54% | 21.22% | 21.17% | 23.04% | 21.53% | 21.54% | 21.28% | 16.29% | 17.44% | 17.02% | 17.08% | 22.00% | 22.17% | 22.21% | 22.27% | 22.74% | 23.72% | 24.18% | ||||||
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
Operating profit margin = 100
× (Operating incomeQ2 2026
+ Operating incomeQ1 2026
+ Operating incomeQ4 2025
+ Operating incomeQ3 2025)
÷ (RevenuesQ2 2026
+ RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025)
= 100 × (5,490 + 4,497 + 3,736 + 4,530)
÷ (22,791 + 23,107 + 24,334 + 21,957)
= 19.80%
2 Click competitor name to see calculations.
The operational performance exhibits a clear transition from a period of low profitability margins to a sustained high-efficiency phase, followed by a period of stabilization and moderate contraction.
- Operating Profit Margin Expansion
- A significant upward trend in margins is observed between March 2022 and June 2025. The margin increased from a baseline of 8.15% to a peak of 23.08%. The most rapid acceleration occurred throughout 2023, where margins climbed from 10.29% in March to 18.16% by December, indicating a substantial improvement in operational efficiency.
- Revenue Dynamics
- Revenues remained relatively stagnant, fluctuating between 19 billion and 20 billion US$ for the majority of 2022 and 2023. A growth phase commenced in late 2024, with revenues escalating to a peak of 24.3 billion US$ in September 2025. This growth trajectory suggests an expansion in market reach or pricing power during the latter half of the analyzed period.
- Operating Income Trajectory
- Operating income demonstrated strong overall growth, rising from 1.8 billion US$ in early 2022 to a peak of 5.49 billion US$ by June 2026. Although growth was largely consistent through 2024, a period of volatility is evident in late 2025, where income dipped to 3.7 billion US$ in December before recovering sharply in the first half of 2026.
- Recent Margin Stabilization
- Following the peak in June 2025, the operating profit margin entered a gradual decline, descending from 23.08% to 19.80% by June 2026. This contraction occurred despite continued high levels of revenue, suggesting that operating expenses began to scale alongside revenue growth, leading to a stabilization of the margin around the 20% threshold.
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Net Profit Margin
T-Mobile US Inc., net profit margin 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) | ||||||||||||||||||||||||
| Net income (loss) | 3,239) | 2,504) | 2,103) | 2,714) | 3,222) | 2,953) | 2,981) | 3,059) | 2,925) | 2,374) | 2,014) | 2,142) | 2,221) | 1,940) | 1,477) | 508) | (108) | 713) | ||||||
| Revenues | 22,791) | 23,107) | 24,334) | 21,957) | 21,132) | 20,886) | 21,872) | 20,162) | 19,772) | 19,594) | 20,478) | 19,252) | 19,196) | 19,632) | 20,273) | 19,477) | 19,701) | 20,120) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||
| Net profit margin1 | 11.45% | 11.65% | 12.45% | 13.83% | 14.53% | 14.41% | 13.93% | 12.96% | 11.95% | 11.14% | 10.59% | 9.93% | 7.82% | 4.83% | 3.25% | 1.92% | 2.14% | 3.48% | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||
| AT&T Inc. | 16.94% | 16.94% | 17.47% | 17.87% | 10.29% | 9.64% | 8.95% | 7.42% | 10.41% | 11.13% | 11.76% | -9.29% | -7.22% | -7.52% | -7.06% | 15.37% | 14.21% | 11.21% | ||||||
| Verizon Communications Inc. | 11.64% | 12.46% | 12.43% | 14.43% | 13.28% | 13.14% | 12.99% | 7.30% | 8.38% | 8.44% | 8.67% | 15.58% | 15.58% | 15.85% | 15.53% | 14.22% | 15.48% | 15.93% | ||||||
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
Net profit margin = 100
× (Net income (loss)Q2 2026
+ Net income (loss)Q1 2026
+ Net income (loss)Q4 2025
+ Net income (loss)Q3 2025)
÷ (RevenuesQ2 2026
+ RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025)
= 100 × (3,239 + 2,504 + 2,103 + 2,714)
÷ (22,791 + 23,107 + 24,334 + 21,957)
= 11.45%
2 Click competitor name to see calculations.
Analysis of profitability trends indicates a significant expansion of the net profit margin between 2022 and 2025, followed by a period of moderate contraction through mid-2026.
- Net Profit Margin Trajectory
- The net profit margin exhibited considerable volatility throughout 2022, characterized by a low of 1.92% in September and a brief dip into negative net income in June. Beginning in early 2023, a sustained and aggressive upward trend emerged, with margins climbing steadily from 4.83% in March 2023 to a peak of 14.53% by June 30, 2025. This trajectory reflects a substantial improvement in bottom-line efficiency over a three-year period.
- Revenue and Net Income Correlation
- Net income growth significantly outpaced revenue growth between 2023 and early 2025. While revenues remained relatively stable in the 19 billion to 20 billion range for much of 2022 and 2023, net income rose from approximately 2 billion per quarter to over 3 billion. This divergence indicates an expansion of margins driven by operational efficiencies or a shift in the revenue mix toward higher-margin services.
- Late Period Margin Compression
- Following the peak in June 2025, a gradual decline in the net profit margin is observed. The margin contracted from 14.53% to 11.45% by June 30, 2026. Notably, this compression occurred even as revenues reached their highest recorded levels, peaking at 24.33 billion in December 2025, suggesting that operating expenses or non-operating costs began to increase at a rate exceeding revenue growth during the final quarters of the analyzed period.
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Return on Equity (ROE)
T-Mobile US Inc., ROE 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) | ||||||||||||||||||||||||
| Net income (loss) | 3,239) | 2,504) | 2,103) | 2,714) | 3,222) | 2,953) | 2,981) | 3,059) | 2,925) | 2,374) | 2,014) | 2,142) | 2,221) | 1,940) | 1,477) | 508) | (108) | 713) | ||||||
| Stockholders’ equity | 56,265) | 55,879) | 59,203) | 60,477) | 61,107) | 61,105) | 61,741) | 64,250) | 62,636) | 62,074) | 64,715) | 64,698) | 65,750) | 66,925) | 69,656) | 70,150) | 70,034) | 69,976) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||
| ROE1 | 18.77% | 18.87% | 18.57% | 19.63% | 19.99% | 19.50% | 18.37% | 16.14% | 15.10% | 14.10% | 12.85% | 12.03% | 9.35% | 5.70% | 3.72% | 2.19% | 2.45% | 4.01% | ||||||
| Benchmarks | ||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||
| AT&T Inc. | 19.52% | 19.54% | 19.86% | 20.09% | 12.12% | 11.43% | 10.49% | 8.85% | 12.08% | 13.03% | 13.94% | -10.90% | -8.61% | -9.16% | -8.74% | 16.37% | 16.92% | 10.26% | ||||||
| Verizon Communications Inc. | 15.56% | 16.78% | 16.44% | 18.88% | 17.65% | 17.66% | 17.64% | 10.17% | 11.70% | 11.99% | 12.57% | 21.38% | 22.10% | 23.24% | 23.32% | 22.06% | 24.18% | 25.55% | ||||||
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
ROE = 100
× (Net income (loss)Q2 2026
+ Net income (loss)Q1 2026
+ Net income (loss)Q4 2025
+ Net income (loss)Q3 2025)
÷ Stockholders’ equity
= 100 × (3,239 + 2,504 + 2,103 + 2,714)
÷ 56,265 = 18.77%
2 Click competitor name to see calculations.
The financial performance from March 2022 through June 2026 is characterized by a significant expansion in capital efficiency. A strong positive correlation exists between the growth of net income and the strategic reduction of stockholders' equity, which collectively drove a substantial increase in the return on equity (ROE).
- Net Income Trajectory
- Net income demonstrated a robust upward trend, rising from 713 million US dollars in March 2022 to 3,239 million US dollars by June 2026. While a temporary loss of 108 million US dollars was recorded in June 2022, the subsequent recovery was aggressive. Starting in March 2023, quarterly net income consistently exceeded 1.9 billion US dollars, eventually stabilizing and peaking above 3 billion US dollars in the final year of the period.
- Stockholders' Equity Dynamics
- A persistent downward trend is observed in stockholders' equity. After peaking at 70,150 million US dollars in September 2022, the equity base declined steadily to 56,265 million US dollars by June 2026. This reduction in the total equity represents a contraction of approximately 20% from its peak, suggesting a shift in capital allocation or a reduction in retained earnings.
- Return on Equity (ROE) Analysis
- ROE experienced an accelerated growth phase, moving from 4.01% in March 2022 to a peak of 19.99% in June 2025. The ratio remained suppressed under 4% during most of 2022 but climbed rapidly throughout 2023 and 2024. From December 2024 through June 2026, ROE entered a stabilization phase, maintaining a high plateau between 18.57% and 19.99%.
- Integrated Profitability Insight
- The sharp increase in ROE is a direct result of dual financial drivers: the substantial increase in the numerator (net income) and the simultaneous decrease in the denominator (stockholders' equity). This divergence indicates a marked improvement in the company's ability to generate profit per unit of shareholder investment, reflecting heightened operational efficiency and a more lean capital structure.
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Return on Assets (ROA)
T-Mobile US Inc., ROA 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) | ||||||||||||||||||||||||
| Net income (loss) | 3,239) | 2,504) | 2,103) | 2,714) | 3,222) | 2,953) | 2,981) | 3,059) | 2,925) | 2,374) | 2,014) | 2,142) | 2,221) | 1,940) | 1,477) | 508) | (108) | 713) | ||||||
| Total assets | 213,553) | 214,667) | 219,237) | 217,180) | 212,643) | 214,633) | 208,035) | 210,742) | 208,557) | 206,268) | 207,682) | 208,579) | 210,602) | 210,173) | 211,338) | 213,499) | 209,463) | 210,653) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||
| ROA1 | 4.94% | 4.91% | 5.01% | 5.47% | 5.74% | 5.55% | 5.45% | 4.92% | 4.53% | 4.24% | 4.00% | 3.73% | 2.92% | 1.82% | 1.23% | 0.72% | 0.82% | 1.33% | ||||||
| Benchmarks | ||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||
| AT&T Inc. | 5.03% | 5.09% | 5.22% | 5.26% | 3.15% | 2.98% | 2.77% | 2.30% | 3.20% | 3.41% | 3.54% | -2.78% | -2.15% | -2.27% | -2.12% | 4.70% | 4.67% | 3.00% | ||||||
| Verizon Communications Inc. | 3.94% | 4.15% | 4.25% | 5.11% | 4.75% | 4.68% | 4.55% | 2.57% | 2.97% | 2.97% | 3.05% | 5.43% | 5.54% | 5.71% | 5.60% | 5.14% | 5.62% | 5.85% | ||||||
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
ROA = 100
× (Net income (loss)Q2 2026
+ Net income (loss)Q1 2026
+ Net income (loss)Q4 2025
+ Net income (loss)Q3 2025)
÷ Total assets
= 100 × (3,239 + 2,504 + 2,103 + 2,714)
÷ 213,553 = 4.94%
2 Click competitor name to see calculations.
The analysis of profitability ratios reveals a significant upward trend in asset efficiency over the period from March 2022 to June 2026. While the initial period was characterized by volatility, a sustained growth phase emerged in 2023, culminating in a peak efficiency level in mid-2025.
- Return on Assets (ROA) Progression
- ROA experienced initial instability in 2022, reaching a minimum of 0.72% in September 2022. However, a consistent growth trajectory began in March 2023 at 1.82% and continued through June 2025, where the ratio peaked at 5.74%. Following this peak, the ratio entered a period of relative stabilization, fluctuating between 4.91% and 5.47% through the first half of 2026.
- Net Income Dynamics
- The expansion of the ROA is primarily attributed to a robust increase in net income. After a period of volatility in 2022, which included a quarterly loss in June 2022, net income climbed from 1,940 million USD in March 2023 to a peak of 3,239 million USD by June 2026. This consistent earnings growth served as the primary engine for the improvement in profitability.
- Asset Base Stability and Efficiency
- Total assets remained relatively stable throughout the analyzed period, generally fluctuating between 206,268 million USD and 219,237 million USD. The limited variance in the asset base indicates that the marked increase in ROA was driven by operational profitability rather than asset divestment, reflecting an enhanced ability to generate revenue from the existing infrastructure.
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