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 ($203.9B vs $149.7B). 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 (7.3x vs 20.0x).
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% |
| Debt / equity | 1.0× | 1.4× |
| Market cap | $149.74B | $203.90B |
| P/E (TTM) | 7.3× | 20.0× |
Fundamentals are from each company’s SEC filings (T FY2025, TMUS FY2025). P/E and market cap are derived from recent market prices and update daily.
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 215 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 186 | 20.7%90th percentile of 186 |
| Net margin | 17.5%93rd percentile of 192 | 12.4%84th percentile of 192 |
| FCF margin | 15.5%78th percentile of 165 | 20.4%88th percentile of 165 |
| Revenue growth (YoY) | +2.7%51st percentile of 208 | +8.5%62nd percentile of 208 |
| ROE | 17.4%83rd percentile of 163 | 18.6%84th percentile of 163 |
| P/E (TTM) | 7.3×6th percentile of 95 | 20.0×40th percentile of 95 |
| Debt / equity | 1.00×61st percentile of 101 | 1.37×69th percentile of 101 |
| Short interest (days to cover) | 1.69d33rd percentile of 215 | 2.78d50th percentile of 215 |
Short interest
| FINRA settlement data | T | TMUS |
|---|---|---|
| Shares sold short | 125.7M | 20.0M |
| Change vs prior settlement | +0.3% | -14.9% |
| Days to cover | 1.69 | 2.78 |
| As of settlement | 2026-06-30 | 2026-06-30 |
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 open-market activity | T | TMUS |
|---|---|---|
| Buys | — | 1 ($1.0M) |
| Sells | — | 2 ($1.9M) |
Open-market purchases and sales reported on SEC Form 4 (grants, exercises and tax withholding excluded). For context, about 16% of covered companies saw any open-market insider buy in a 90-day window.
Held by the same investors
8 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, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR (public domain). 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.