AT&T vs T-Mobile US (T vs TMUS)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
AT&T is the larger company by revenue ($125.6B vs $88.3B). T-Mobile US carries the larger market value ($170.7B vs $160.6B). T-Mobile US has grown revenue faster over the last 4 fiscal years (+10.2% cumulative vs -6.3%). T-Mobile US runs the higher operating margin (20.7% vs 19.2%). AT&T trades at the lower trailing P/E (7.7x vs 16.6x).
About AT&T
AT&T Inc. is a telecommunications company that provides wireless and wireline telecom and broadband services primarily in the United States and wireless services in Mexico. Its main products include nationwide wireless service and equipment, advanced fiber-based broadband, fixed wireless internet, and legacy voice and data services for both consumers and businesses. The company focuses on expanding its 5G wireless network and fiber infrastructure to support growing data demands.
About T-Mobile US
T-Mobile US, Inc. provides wireless communications and broadband services to postpaid and prepaid customers in the United States. The company offers a range of service plans, wireless devices, and accessories through its brands including T-Mobile, Metro by T-Mobile, and Mint Mobile. It operates a nationwide 5G network and serves consumers, businesses, wholesale partners, and other customers with products such as smartphones, wearables, tablets, 5G broadband gateways, and fiber internet services.
Head to head (T FY2025 vs TMUS FY2025)
| Metric | TFY2025 | TMUSFY2025 |
|---|---|---|
| Revenue | $125.65B | $88.31B |
| Revenue growth (YoY) | 2.7% | 8.5% |
| Gross margin | — | — |
| Operating margin | 19.2% | 20.7% |
| Net margin | 17.5% | 12.4% |
| Net income | $21.95B | $10.99B |
| Diluted EPS | $3.04 | $9.72 |
| FCF margin | 15.5% | 20.4% |
| ROE | 17.4% | 18.6% |
| Long-term debt / equity | 1.00× | 1.37× |
| Market cap | $160.62B | $170.66B |
| P/E | 7.7× | 16.6× |
Fundamentals are from each company’s SEC filings (T FY2025, TMUS FY2025). ROE is net income over fiscal-year-end equity; long-term debt / equity counts non-current term debt only. P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| T | $134.04B | $120.74B | $122.43B | $122.34B | $125.65B |
| TMUS | $80.12B | $79.57B | $78.56B | $81.40B | $88.31B |
Peer standing
Where each company ranks among the 213 Communication Services companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | T | TMUS |
|---|---|---|
| Operating margin | 19.2%89th percentile of 182 | 20.7%91st percentile of 182 |
| Net margin | 17.5%93rd percentile of 188 | 12.4%86th percentile of 188 |
| FCF margin | 15.5%79th percentile of 162 | 20.4%89th percentile of 162 |
| Revenue growth (YoY) | +2.7%50th percentile of 206 | +8.5%60th percentile of 206 |
| ROE | 17.4%82nd percentile of 162 | 18.6%84th percentile of 162 |
| P/E | 7.7×13th percentile of 79 | 16.6×38th percentile of 79 |
| Long-term debt / equity | 1.00×61st percentile of 100 | 1.37×69th percentile of 100 |
| Short interest (days to cover) | 3.15d39th percentile of 212 | 2.33d29th percentile of 212 |
Short interest
| FINRA settlement data | T | TMUS |
|---|---|---|
| Shares sold short | 124.4M | 14.3M |
| Change vs prior settlement | -4.6% | -20.8% |
| Days to cover | 3.15 | 2.33 |
| As of settlement | 2026-09-30 | 2026-09-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 activity (codes P/S) | T | TMUS |
|---|---|---|
| Buys | — | 0 |
| Sells | — | 1 ($137,671) |
Non-derivative purchases (code P) and sales (code S) reported on SEC Form 4, which may be open-market or private (grants, exercises and tax withholding excluded). For context, about 15% of covered companies saw any reported insider purchase (code P) in a 90-day window.
Held by the same investors
9 tracked 13F managers hold both AT&T and T-Mobile US as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Millennium Management, Point72 Asset Management, Renaissance Technologies, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.