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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- Income Statement
- Cash Flow Statement
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Return on Equity (ROE) since 2013
- Debt to Equity since 2013
- Price to Earnings (P/E) since 2013
- Price to Sales (P/S) since 2013
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Historical Valuation Ratios (Summary)
T-Mobile US Inc., historical price multiples (quarterly data)
Based on: 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), 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).
The analysis of the financial ratios over the quarterly periods reveals varied trends indicating shifts in market valuation and profitability perceptions over time.
- Price to Earnings (P/E) Ratio
- The P/E ratio begins to be reported starting March 31, 2020. It initially shows an upward trend from 48.36 to a peak at 113.98 by December 31, 2022, indicating increasing market expectations about the company's earnings growth or possibly a higher valuation premium. However, following this peak, there is a marked decline through 2023 and into early 2024, stabilizing around the low 20s by mid-2025. This downward correction may reflect market revaluation, earnings growth acceleration, or reduced investor optimism.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio mirrors a somewhat similar pattern to the P/E ratio but is generally lower in magnitude, ranging from the high teens into the mid-30s during its peak in late 2022. After peaking, it declines substantially, bottoming out around 12.05 by mid-2023 before a small rebound and moderate fluctuations settle the ratio in the mid-teens toward the end of the period. This suggests an improving operating profit base relative to the stock price or adjustments in market pricing strategies.
- Price to Sales (P/S) Ratio
- The P/S ratio displays gradual fluctuations with less pronounced volatility compared to P/E and P/OP ratios. Starting from around 2.17 in early periods, it experiences a slight dip near the end of 2020, followed by a rebound and subsequent general upward trend, peaking at 3.6 in late 2024 before a slight fall off by mid-2025. This gradual increase indicates growing investor willingness to pay higher prices per dollar of sales, possibly reflecting confidence in revenue growth or sales stability.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio shows a distinct upward trajectory over the entire time series. Starting around 3.69 and dipping to slightly above 2 in the mid-2020 periods, the ratio then climbs steadily, reaching a peak near 4.87 by late 2024 before a minor decline toward mid-2025. This trend points to an increasing market premium on the company's net asset value, which may be due to improved asset quality, intangible asset recognition, or investor expectations of future growth and profitability beyond book values.
In summary, the data exhibit an overall pattern of rising valuation multiples through late 2022, followed by corrections and stabilization in subsequent quarters. While price to earnings and operating profit ratios show significant volatility, price to sales and book value ratios demonstrate more consistent growth trends, suggesting both improved sales performance and enhanced investor confidence in the company's underlying asset base and operational profitability over time.
Price to Earnings (P/E)
T-Mobile US Inc., historical P/E calculation (quarterly data)
| 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 | 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: 2025-09-30), 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), 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 Q3 2025 Calculation
EPS
= (Net income (loss)Q3 2025
+ Net income (loss)Q2 2025
+ Net income (loss)Q1 2025
+ Net income (loss)Q4 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 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The financial data reveals several noteworthy trends in the company's share price, earnings per share (EPS), and price-to-earnings (P/E) ratio over multiple quarters.
- Share Price
- The share price exhibited a general upward trajectory from March 2020 through September 2025, rising from approximately $86.59 to a peak near $262.18 in September 2025. Although the overall trend is positive, there are intermittent fluctuations, including periods of short-term declines. Notably, the share price experienced significant growth during 2023 and into 2024, reaching new highs above $230 before slightly declining towards the latter quarters.
- Earnings Per Share (EPS)
- EPS data, commencing from March 2021, displays a clear increasing trend across the observed quarters. Initially around the $2.40 mark, EPS steadily improved to over $10 by the latter periods in 2025. This consistent growth suggests improving profitability and operational performance. Some quarters show more pronounced increases, especially from late 2022 onwards, highlighting potential gains in earnings quality or scale.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio presents a more volatile pattern compared to share price and EPS. Early in the period, P/E values are elevated, often exceeding 50 and even reaching above 100, indicating high market expectations or potentially overvalued conditions relative to earnings. As EPS grew substantially, the P/E ratio generally declined, stabilizing in a lower range between approximately 20 and 25 in the most recent quarters. This downward movement in P/E ratio, despite increasing share price, suggests that earnings growth outpaced share price appreciation, reflecting improved valuation metrics.
Overall, the data points to strong earnings growth coupled with a solid increase in share price over the analyzed period. The reduction and stabilization of the P/E ratio alongside rising EPS suggest a maturing profit base that has benefited the company's market valuation. Short-term fluctuations in share price and P/E demonstrate typical market variability but do not overshadow the underlying positive financial trajectory.
Price to Operating Profit (P/OP)
T-Mobile US Inc., historical P/OP calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| 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: 2025-09-30), 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), 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 Q3 2025 Calculation
Operating profit per share
= (Operating incomeQ3 2025
+ Operating incomeQ2 2025
+ Operating incomeQ1 2025
+ Operating incomeQ4 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 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The analyzed financial data reveals several notable trends in the company's market valuation and operational profitability over multiple quarters.
- Share Price Trends
- The share price demonstrated a general upward trajectory from early 2020 through 2025, starting at approximately $86.59 and reaching a peak around $262.18 by the third quarter of 2025. This growth, however, was characterized by some fluctuations, including dips in specific quarters such as late 2021 and mid-2025, suggesting periods of market volatility or reaction to corporate or macroeconomic events.
- Operating Profit Per Share (OPPS)
- Operating profit per share exhibited a consistent and strong increase from early 2020 onwards. Initially unreported, OPPS began at $5.34 in the first quarter of 2021 and rose steadily to $17.1 by the fourth quarter of 2025. This upward trend indicates improving operational efficiency or enhanced profitability on a per-share basis over the examined period.
- Price-to-Operating-Profit (P/OP) Ratio
- The price-to-operating-profit ratio showed variable behavior. Early in the period, ratios were relatively high, peaking around 36.01 in late 2022, indicative of a premium valuation relative to operating profit. Following this, there was a gradual decline to the range of approximately 12 to 15 in the later quarters of 2024 and 2025. This downward shift suggests that market pricing became more aligned with earnings, potentially reflecting recalibrated investor expectations or improved profitability metrics.
Overall, the data reflects a company with a strengthening profit profile as illustrated by rising operating profit per share, accompanied by a generally increasing share price that, despite periodic fluctuations, indicates positive investor sentiment. The decreasing P/OP ratio in recent years may imply that the share price growth is increasingly supported by fundamentals rather than speculative valuation. This pattern underscores enhanced operational performance and potentially more efficient market pricing over time.
Price to Sales (P/S)
T-Mobile US Inc., historical P/S calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| 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: 2025-09-30), 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), 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 Q3 2025 Calculation
Sales per share
= (RevenuesQ3 2025
+ RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 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 Q3 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 several notable trends in the company's share price, sales per share, and price-to-sales (P/S) ratio over the observed periods.
- Share Price
- The share price exhibited an overall upward trajectory from March 2020 to March 2025. Starting at $86.59 in March 2020, the price showed significant increases throughout the timeline, reaching a peak of $262.18 in September 2024. There are fluctuations within quarters, with occasional declines, such as in late 2021 and again in late 2025. However, the general trend is positive, indicating increasing market valuation over this five-year span. The notable surges occur particularly after mid-2023, where the share price rose from around $140 to surpass $260, reflecting strong investor confidence or improved company prospects during this period.
- Sales per Share
- Sales per share data, available from March 2021 onwards, show a steady but moderate growth trend. Beginning at $55.03 in March 2021, sales per share increased gradually each quarter, reaching $76.75 by June 2025. The increase is consistent with minor fluctuations, suggesting steady operational performance and revenue growth over time. The relatively smooth upward trend implies stable expansion or effective revenue enhancement strategies.
- Price-to-Sales (P/S) Ratio
- The P/S ratio presents more variability compared to sales per share and share price. Initially, the ratio decreased slightly after March 2021, dropping from 2.17 to values near 1.82 by December 2021, indicating that the share price did not consistently keep pace with sales growth during this initial period. From early 2022, however, the P/S ratio tended to increase, reaching as high as 3.6 in September 2024 before retreating somewhat to 2.87 by late 2025. This rise suggests that the market valuation per dollar of sales increased, possibly reflecting heightened investor expectations or perceived improvements in profit margins, growth potential, or other qualitative factors beyond pure sales figures.
In summary, the company's financial metrics indicate a strong appreciation in market valuation characterized by an increasing share price and rising sales per share. The upward movement in the P/S ratio in recent years points to strengthening market sentiment and valuation multiples. While fluctuations exist, the overall trends display consistent growth in both operational results and market perception across the analyzed quarters.
Price to Book Value (P/BV)
T-Mobile US Inc., historical P/BV calculation (quarterly data)
| 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 | 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: 2025-09-30), 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), 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 Q3 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 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the financial metrics over the observed quarterly periods reveals several notable trends and insights related to the share price, book value per share (BVPS), and the price-to-book value (P/BV) ratio.
- Share Price Trends
- The share price exhibited a generally upward trajectory over the analyzed intervals, starting at $86.59 at the beginning of 2020 and rising significantly to reach a peak of $262.18 in the third quarter of 2025. Despite some fluctuations, including a notable dip from $144.5 in mid-2021 to $115.8 in the following quarter, the overall direction remained positive. The share price showed steady appreciation particularly from late 2022 onwards, suggesting increasing investor confidence or improved market perception.
- Book Value per Share (BVPS) Trends
- The BVPS showed a different pattern characterized by relative stability with minor fluctuations. It began around $23.45 in early 2020, nearly doubling to approximately $55 by 2021, after which it remained mostly flat, oscillating narrowly between $52.97 and $57.12 up to the end of 2024. This plateau indicates that the intrinsic value of the company, as measured by its book value per share, has been stable in recent years without significant growth or erosion.
- Price-to-Book Value (P/BV) Ratio Trends
- The P/BV ratio declined sharply from 3.69 in early 2020 to around 2.11-2.27 throughout 2020 and 2021, reflecting that the market price became closer to the book value per share during that period. However, from early 2022 forward, the ratio started a strong ascent, reaching a high of 4.87 in the third quarter of 2025. This increase suggests that the market's valuation premium over the company's book value grew substantially, indicating enhanced market optimism, possibly driven by growth expectations or improved profitability not immediately reflected in book value.
- Overall Insights
- The data portrays a scenario where the company's book value per share has been stable since 2021, while the market price has significantly increased, leading to a rising P/BV ratio. This divergence may imply that investors anticipate future growth, improvements in earnings, or favorable industry conditions. The temporary share price volatility observed around 2021 warrants attention, but it did not hinder the long-term upward movement. The rising valuation multiples indicate strengthened market sentiment despite stable underlying net asset values.