Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2013
- Return on Equity (ROE) since 2013
- Price to Operating Profit (P/OP) since 2013
- Analysis of Revenues
- Analysis of Debt
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Historical Valuation Ratios (Summary)
T-Mobile US Inc., historical price multiples (quarterly data)
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Price to Earnings (P/E) Ratio
- The P/E ratio began reporting from March 31, 2020, showing an initial rise from 48.36 to a peak of 113.98 in December 31, 2022. Following this peak, a notable decline occurred, reaching 20.96 by September 30, 2023, after which the ratio stabilized in the low to mid-20s range until June 30, 2025. This trend suggests initial expansion in earnings valuation, followed by a correction and stabilization, indicating a shift in market expectations or earnings performance over time.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio displays a pattern similar to the P/E ratio, starting at 22.33 in March 31, 2020, rising sharply to a high of 36.01 in December 31, 2022. After this peak, there is a significant decline, falling to around 12.05 in June 30, 2023, with minor fluctuations thereafter, stabilizing near the 13 to 15 range until June 30, 2025. This pattern indicates increased valuation relative to operating profit until late 2022, followed by more conservative valuation multiples in subsequent periods.
- Price to Sales (P/S) Ratio
- The P/S ratio shows more gradual and consistent growth compared to the P/E and P/OP ratios. Starting at 2.17 in March 31, 2020, it fluctuates slightly but trends upward from 2.09 in March 31, 2023, to a peak of 3.6 in September 30, 2024. A slight decline to 3.13 is noted by June 30, 2025. Overall, this rising trend suggests increasing market value relative to sales, indicating positive investor sentiment toward top-line growth or stable revenue streams.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio starts at 3.69 on March 31, 2020, dropping significantly to a low near 2.11 in September 30, 2020, before trending upwards steadily. From early 2023 onwards, there is a clear upward trajectory, reaching a peak of 4.87 in March 31, 2025, before a minor decrease to 4.31 in June 30, 2025. The increasing P/BV ratio indicates improving market valuation relative to the company’s net asset base, potentially reflecting enhanced intangible asset valuation or investor confidence in future growth prospects.
- General Observations
- Across all price ratios, a peak in valuation multiples tends to occur around late 2022, followed by a correction, especially in earnings and operating profit multiples. Sales and book value multiples show more gradual and sustained growth, suggesting a stronger investor focus on revenue and asset value rather than operating profitability or earnings alone. The stabilization and moderate increase of ratios from mid-2023 onwards may reflect market adjustment to earnings realities alongside sustained interest in growth potential and asset value.
Price to Earnings (P/E)
T-Mobile US Inc., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net income (loss) (in millions) | |||||||||||||||||||||||||||||
| Earnings per share (EPS)2 | |||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/E ratio4 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||
| AT&T Inc. | |||||||||||||||||||||||||||||
| Verizon Communications Inc. | |||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net income (loss)Q2 2025
+ Net income (loss)Q1 2025
+ Net income (loss)Q4 2024
+ Net income (loss)Q3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of T-Mobile US Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The financial data reveals a notable progression in share price, earnings per share (EPS), and price-to-earnings (P/E) ratios for the subject company over approximately five years.
- Share Price
- The share price demonstrates a generally increasing trend from March 2020 through the majority of 2025, commencing at $86.59 and peaking above $260 during 2025. There are interim fluctuations, including a decline in late 2023 and variability in early 2024; however, the overall pattern indicates strong growth in market valuation over the period analyzed.
- Earnings Per Share (EPS)
- EPS values commence in March 2021 at $2.47 and show a consistent upward trajectory across subsequent quarters. The growth accelerates significantly from 2022 onward, culminating at approximately $10.85 by mid-2025. This steady increase suggests improved profitability and operational performance over time.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio displays substantial volatility initially, with elevated ratios surpassing 100 in late 2021 and early 2022, coinciding with a period of comparatively lower EPS relative to the share price. Subsequently, the ratio declines and stabilizes in the range of approximately 20 to 25 from 2023 through mid-2025, despite rising share prices. This trend likely reflects the strong EPS growth outpacing share price appreciation during the latter periods, indicating improving valuation metrics and potentially a normalization of market expectations regarding future earnings.
Price to Operating Profit (P/OP)
T-Mobile US Inc., historical P/OP calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Operating income (in millions) | |||||||||||||||||||||||||||||
| Operating profit per share2 | |||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/OP ratio4 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||
| AT&T Inc. | |||||||||||||||||||||||||||||
| Verizon Communications Inc. | |||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Operating incomeQ2 2025
+ Operating incomeQ1 2025
+ Operating incomeQ4 2024
+ Operating incomeQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of T-Mobile US Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The share price exhibits a general upward trend over the observed quarters, rising from $86.59 in March 2020 to a peak of $262.18 in March 2025, before a slight decline to $233.93 in June 2025. This appreciation suggests increased market confidence or improved performance expectations over the five-year period.
The operating profit per share data, available from March 2021 onwards, shows consistent growth with some fluctuations. The figure begins at $5.34 in March 2021 and rises steadily, reaching $17.23 by June 2025. Notable increases occur particularly in the periods from June 2023 to December 2024, indicating improving operational efficiency or profitability during these times.
The price-to-operating profit (P/OP) ratio demonstrates variability around a declining trend until late 2023, followed by fluctuations thereafter. Initially, the ratio was around 22 in early 2021, peaked above 36 in late 2022, suggesting a period where the share price outpaced operating profit growth. Subsequently, the ratio decreased to approximately 12 in mid-2023, marking a phase of increased profitability relative to share price. Afterward, the ratio fluctuates between roughly 13 and 16, indicating market valuation adjustments in response to operational performance and other factors.
Overall, the data reveal that while the share price has generally trended upward, the operating profit per share has shown strong and consistent growth since 2021, contributing to valuation adjustments observed in the P/OP ratio. The decline and subsequent stabilization of the P/OP ratio in recent years suggest a convergence of market valuation with underlying operating profitability.
- Share Price
- Steady increase from $86.59 to $262.18 over five years, with a minor pullback towards the end.
- Operating Profit per Share
- Consistent growth from $5.34 in 2021 to $17.23 in 2025, indicating improving profitability.
- P/OP Ratio
- Started around 22, peaked above 36 in late 2022, then declined and stabilized between 12 and 16, reflecting changing market valuation relative to profits.
Price to Sales (P/S)
T-Mobile US Inc., historical P/S calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Revenues (in millions) | |||||||||||||||||||||||||||||
| Sales per share2 | |||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/S ratio4 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||
| AT&T Inc. | |||||||||||||||||||||||||||||
| Verizon Communications Inc. | |||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024
+ RevenuesQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of T-Mobile US Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals distinct trends and fluctuations in share price, sales per share, and price-to-sales (P/S) ratio over the observed periods.
- Share Price
- The share price exhibits a general upward trajectory from March 2020 through June 2025, beginning at US$86.59 and reaching a peak above US$260 in late 2024. Notable increases occurred between December 2022 and December 2024, highlighting strong market performance during that timeframe. However, there are intermittent periods of decline or stagnation, such as the dip observed around mid-2023. Despite some volatility, the overall share price trend suggests growing investor confidence and market valuation over the extended period.
- Sales Per Share
- Sales per share data, available from March 2021 onward, show a relatively stable and gradual increase. Starting at 55.03 US$ in early 2021, sales per share rose steadily, reaching approximately 74.69 US$ by mid-2025. This steady growth implies consistent revenue generation on a per-share basis, reflecting ongoing core business strength without significant volatility.
- Price-to-Sales (P/S) Ratio
- The P/S ratio demonstrates varying but generally increasing trends, beginning around 2.17 in March 2021, dropping slightly in some quarters before ascending to a level above 3.5 in early 2025. This indicates that the market valuation relative to sales has generally increased, with investors willing to pay more for each dollar of sales over time. A temporary decline in the P/S ratio during late 2021 might indicate transient investor uncertainty or sales growth outpacing share price increases during that period. The rising ratio into 2025 suggests heightened market expectations or improved profitability margins.
Overall, the data depict a company experiencing solid financial and market performance with steadily increasing sales per share and an appreciating share price supported by a growing price-to-sales ratio. This combination points to positive investor sentiment and consistent operational results over the evaluation period.
Price to Book Value (P/BV)
T-Mobile US Inc., historical P/BV calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Stockholders’ equity (in millions) | |||||||||||||||||||||||||||||
| Book value per share (BVPS)2 | |||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/BV ratio4 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||
| AT&T Inc. | |||||||||||||||||||||||||||||
| Verizon Communications Inc. | |||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of T-Mobile US Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited an overall upward trajectory from March 31, 2020 to June 30, 2025, moving from $86.59 to peaks around $262.18 by March 31, 2025. Despite periodic fluctuations, such as declines around September 2021 and a drop at the end of June 2025, the long-term pattern indicates significant appreciation in market valuation.
- Book Value Per Share (BVPS) Trends
- The book value per share demonstrated relative stability throughout the period. It started at $23.45 in March 2020, increased sharply to near $50.89 by June 2020, and thereafter remained mostly in the range of approximately $53 to $57 with minor quarterly variations. This stability suggests consistent equity growth and asset base maintenance over the period.
- Price-to-Book Value (P/BV) Ratio Trends
- The P/BV ratio declined sharply from 3.69 in March 2020 to a low near 2.11 by September 2021, indicating a period when the share price adjusted relative to the book value. Subsequently, the ratio began to climb steadily, reaching a high point of 4.87 in March 2025. This increase signals growing investor confidence and a premium valuation of the company’s equity relative to its book value in the later periods.
- Overall Insights
- The data reflects a strong recovery and growth in market valuation following an initial adjustment phase in early 2020. The stable book value per share combined with an increasing share price and rising P/BV ratio in the latter years indicates improved investor sentiment and market expectations for future growth or profitability. Fluctuations in the P/BV ratio suggest periods of market reassessment but the long-term trend points to enhanced market valuation well above the company’s book equity per share.