Saturday 17 October 2026 Export TDS’s income statement to Excel — free account

Telephone and Data Systems, Inc.

TDS Communication Services Telecom Services

In the quarter to June 2026, revenue grew 3.60%, EPS grew 5,000.0%, free cash flow fell 134.0% and total debt fell 83.3%, each against the same quarter a year earlier.

33.90 0.12 −0.35%

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Market cap: $3.7B
P/E: 11.1×
Fwd P/E: 34.7×
Dividend yield: 0.47%
F-score: 7/9
Altman Z: 1.36
Beneish M: −2.59
Dividend safety: 16/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 3.88

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	—	—	—	1	—	—	—	—	—	1	—

Insider Ownership 12.82%

Capital & Financial Ratios $m

Market Cap 3,660.00

Revenue 1,257.96

Net Income 533.89

Free Cash Flow (452.31)

Net Debt (1,513.92)

Current Ratio 3.82

Debt/Equity 0.13

P/E ratio 11.08

Fwd P/E 34.70

P/S ratio 3.09

P/B ratio 0.90

Past 5Y EPS Growth —

This Y EPS Growth 669.37%

Next Y EPS Growth (94.16%)

Next Y revenue growth 1.04%

Next 5Y EPS Growth 56.11%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 10.99%

10-year low 10-year high

P/S against its own 10 years 86.65%

10-year low 10-year high

P/B against its own 10 years 88.32%

10-year low 10-year high

EV/Sales against its own 10 years 78.68%

10-year low 10-year high

Dividends

Payout Ratio 0.05

Annual Dividend Rate 0.16

Annual Dividend Yield 0.47%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.17	0.04 0.04 0.04
2025	0.16	0.04 0.04 0.04 0.04
2024	0.31	0.19 0.04 0.04 0.04
2023	0.74	0.19 0.19 0.19 0.19
2022	0.72	0.18 0.18 0.18 0.18
2021	0.70	0.18 0.18 0.18 0.18
2020	0.68	0.17 0.17 0.17 0.17
2019	0.66	0.17 0.17 0.17 0.17
2018	0.64	0.16 0.16 0.16 0.16
2017	0.62	0.16 0.16 0.16 0.16
2016	0.59	0.15 0.15 0.15 0.15

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	236	364	766	2,194
Receivables	1,078	99	110	106
Inventory	208	4	4	4
Other	52	34	15	13
	1,660	1,695	923	2,351

	2023	2024	2025	Q'26
Payables	360	75	116	130
ST’ Debt	26	31	5	9
Other	447	92	166	121
	1,184	1,090	440	616

Compound Annual Growth %

	10y	5y	3y
Sales	(13.45%)	(25.14%)	(39.01%)
Cash Flow	(2.88%)	(17.38%)	(20.07%)
Earnings	0.00%	0.00%	0.00%
Book Value	1.14%	(1.19%)	(7.26%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	309	309	—	—	—
’25	290	299	309	331	1,228
’24	1,262	1,238	327	—	1,297
’23	1,303	1,267	1,278	—	1,355
’22	1,315	1,349	1,392	1,357	5,413
’21	1,318	1,311	1,328	1,372	5,329
’20	1,261	1,263	1,324	1,377	5,225

Fiscal quarters ending in the months shown.

value withheld pending a data check

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	67	56	—	—	—
’25	186	422	(37)	20	590
’24	224	402	307	213	1,146
’23	46	468	409	218	1,141
’22	381	353	167	254	1,155
’21	165	316	382	240	1,103
’20	367	439	360	366	1,532

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(82)	(113)	—	—	—
’25	119	333	(149)	(109)	195
’24	(22)	182	487	114	761
’23	(290)	167	116	376	369
’22	(458)	80	(118)	(124)	(620)
’21	(1,316)	76	89	(205)	(1,356)
’20	(36)	72	47	81	164

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.09	2.42	—	—	—
’25	(0.09)	(0.05)	(0.84)	0.33	(0.65)
’24	0.10	(0.13)	(0.73)	(0.10)	(0.85)
’23	(0.08)	(0.17)	(0.16)	(4.64)	(5.06)
’22	0.37	0.15	(0.22)	(0.38)	(0.07)
’21	0.48	0.17	0.24	0.11	1.00
’20	0.59	0.56	0.66	0.12	1.93

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	20.83	24.57	23.54	21.44	14.05	17.18	9.65	6.44	13.69	31.07	Analyst estimates 2026–2028 Powerpack
	High	32.00	32.98	36.52	37.29	25.64	26.51	21.47	21.75	35.39	42.74
People
People	Employees	10,300	9,900	9,400	9,400	9,200	8,800	9,300	8,800	7,900	4,000
	Revenue/emp, $m	0.50	0.51	0.54	0.55	0.57	0.61	0.58	0.15	0.16	0.31
Income, $m
Income, $m	Revenue	5,155	5,044	5,109	5,176	5,225	5,329	5,413	1,355	1,297	1,228
	Gross margin, %	52.88	53.23	54.28	54.85	54.95	53.61	52.61	49.18	54.49	59.02
	EBT	92	(122)	221	211	288	221	125	(563)	(103)	89
	EBT margin, %	1.78	(2.42)	4.33	4.08	5.51	4.15	2.31	(41.58)	(7.97)	7.24
	Net income	52	157	175	147	269	188	72	(487)	(26)	20
	Depreciation	850	1,106	883	932	909	895	929	310	326	352
Per share, $
Per share, $	Revenue	46.86	45.44	45.62	45.40	45.83	46.34	47.48	12.02	11.41	10.66
	Earnings	0.39	1.39	1.20	1.06	1.97	1.03	(0.07)	(5.05)	(0.85)	(0.66)
	Cash flow	7.11	6.99	9.08	8.91	13.44	9.59	10.13	10.12	10.08	5.12
	Capex	(5.78)	(6.17)	(7.09)	(8.44)	(12.00)	(21.38)	(15.57)	(6.84)	(3.38)	(3.43)
	Free cash flow	1.33	0.82	1.99	0.47	1.44	(11.79)	(5.44)	3.28	6.69	1.69
	Book value	43.18	44.07	47.26	47.40	49.06	58.56	57.92	53.18	51.60	45.73
	Shares, m	110	111	112	114	114	115	114	113	114	115
Valuation, ×
Valuation, ×	P/E	77.95	20.23	27.12	23.99	9.43	19.56	0.00	0.00	0.00	0.00
	P/S	0.65	0.61	0.71	0.56	0.41	0.43	0.23	1.51	2.99	3.84
	P/B	0.70	0.63	0.69	0.54	0.38	0.41	0.23	0.42	0.81	1.13
	EV/Sales	0.95	0.96	1.01	0.92	0.79	0.92	0.86	4.37	4.60	3.90
	EV/FCF	33.49	53.16	21.35	88.15	25.09	(3.60)	(7.49)	16.02	7.83	24.52
Cash, $m
Cash, $m	Operating cash flow	782	776	1,017	1,016	1,532	1,103	1,155	1,141	1,146	590
	Capex	(636)	(685)	(794)	(962)	(1,368)	(2,459)	(1,775)	(772)	(385)	(395)
	Free cash flow	146	91	223	54	164	(1,356)	(620)	369	761	195
Balance, $m
Balance, $m	Working capital	1,172	1,048	1,451	959	1,873	864	514	476	605	483
	Total debt	2,445	2,457	2,439	2,326	3,429	2,934	3,750	4,106	2,447	829
	Net debt	1,545	1,738	1,501	1,861	1,997	2,567	3,390	3,870	2,083	63
	Shareholders’ equity	4,750	4,892	5,293	5,404	5,593	6,734	6,603	5,996	5,868	5,267
Returns, %
Returns, %	ROA	0.46	1.63	1.42	1.18	1.94	0.90	(0.05)	(4.00)	(0.70)	(0.68)
	ROIC	1.07	(1.02)	1.89	1.54	2.13	1.75	0.76	(4.32)	(1.50)	(1.14)
	ROE	0.91	3.17	2.65	2.26	4.11	2.08	(0.13)	(10.89)	(2.00)	(1.68)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
LUMN Lumen Technologies, Inc.	$5.0B	— (loss-making)	— (loss-making)	−9.28% (below 0%: shrinking)	n/m	+124.34% (above 0%: growing)	49.55%	(3.14%)	Compare
IRDM Iridium Communications Inc	$4.8B	49.6×	42.9×	+3.84% (above 0%: growing)	−55.00% (below 0%: shrinking)	−15.24% (below 0%: shrinking)	71.23%	15.10%	Compare
TKC Turkcell Iletisim Hizmetleri AS	$4.3B	10.1×	—	+15.43% (above 0%: growing)	+8.33% (above 0%: growing)	−58.09% (below 0%: shrinking)	25.36%	12.41%	Compare
PHI PLDT Inc.	$4.3B	9.4×	7.5×	−5.84% (below 0%: shrinking)	−24.00% (below 0%: shrinking)	+78.48% (above 0%: growing)	57.86%	20.01%	Compare
TDS Telephone and Data Systems, Inc.	$3.7B	11.1×	34.7×	+3.60% (above 0%: growing)	n/m	−133.98% (below 0%: shrinking)	58.19%	120.67%
AD Array Digital Infrastructure Inc.	$2.9B	5.4×	8.8×	+89.53% (above 0%: growing)	+1,021.62% (above 0%: growing)	−115.23% (below 0%: shrinking)	56.54%	738.42%	Compare
KYIV Kyivstar Group Ltd.	$2.9B	18.1×	10.0×	+19.37% (above 0%: growing)	−16.71% (below 0%: shrinking)	+29.21% (above 0%: growing)	88.79%	37.46%	Compare
LBTYA Liberty Global Ltd	$2.8B	— (loss-making)	— (loss-making)	−7.65% (below 0%: shrinking)	n/m	+429.69% (above 0%: growing)	50.62%	0.26%	Compare
LBTYK Liberty Global Ltd	$2.8B	— (loss-making)	—	−7.65% (below 0%: shrinking)	n/m	+429.69% (above 0%: growing)	50.62%	0.26%	Compare
Median of peers	$3.6B	10.1×	9.4×	−1.00%	−16.71%	+53.85%	53.58%	13.76%

All 55 Telecom Services stocks →

Telephone and Data Systems, Inc. (TDS) key facts

Telephone and Data Systems, Inc. (TDS) is a Telecom Services company in the Communication Services sector, listed on the New York Stock Exchange.
As of October 16, 2026, TDS traded at $33.90, a market capitalization of $3.7 billion.
Telephone and Data Systems, Inc. pays an annual dividend of $0.16 per share, a yield of 0.47%, with a payout ratio of 5.33%.
Return on equity was −1.68% and debt-to-equity 0.13.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 1.36 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.