AI-assembled from public SEC filings
U.S. telecom carriers peer review
Descriptive comparison assembled from public SEC filings and verified companyfacts.
This feature-specific review is assembled from a frozen evidence pack of public SEC filing quotes and verified SEC companyfacts numbers. It is descriptive only and makes no judgment about which company is better. It is not a rating, recommendation, endorsement, forecast, or investment advice. Figures are as of their cited filing dates.
Methodology
The cluster is intentionally small: T and VZ are selected from public SEC SIC 4813 Telephone Communications companies already present in grepcent's processed universe, and TMUS is retained as a disclosed requested wireless carrier peer with cached SEC SIC 4812 rather than being relabeled. The review publishes no proprietary index-membership labels.
Verified Quantitative Matrix
Numbers are templated from frozen SEC companyfacts-derived facts already verified by grepcent. Fiscal periods and filing dates are shown in each cell; code-computed comparisons below only use calendar-aligned periods.
| Metric | T | VZ | TMUS |
|---|---|---|---|
| Revenue | 125,648,000,000 source · NUM_T_REVENUE_FY2025 | 138,191,000,000 source · NUM_VZ_REVENUE_FY2025 | 88,309,000,000 source · NUM_TMUS_REVENUE_FY2025 |
| Operating margin | 19.23% source · NUM_T_OPERATING_MARGIN_FY2025 | 21.17% source · NUM_VZ_OPERATING_MARGIN_FY2025 | 20.70% source · NUM_TMUS_OPERATING_MARGIN_FY2025 |
| Net margin | 17.47% source · NUM_T_NET_MARGIN_FY2025 | 12.43% source · NUM_VZ_NET_MARGIN_FY2025 | 12.45% source · NUM_TMUS_NET_MARGIN_FY2025 |
| Capital expenditures | 20,842,000,000 source · NUM_T_CAPEX_FY2025 | 17,011,000,000 source · NUM_VZ_CAPEX_FY2025 | 9,955,000,000 source · NUM_TMUS_CAPEX_FY2025 |
| Capex / revenue | 16.59% source · NUM_T_CAPEX_INTENSITY_FY2025 | 12.31% source · NUM_VZ_CAPEX_INTENSITY_FY2025 | 11.27% source · NUM_TMUS_CAPEX_INTENSITY_FY2025 |
| Free cash flow | 19,442,000,000 source · NUM_T_FREE_CASH_FLOW_FY2025 | 20,126,000,000 source · NUM_VZ_FREE_CASH_FLOW_FY2025 | 17,995,000,000 source · NUM_TMUS_FREE_CASH_FLOW_FY2025 |
| Total debt | 134,718,000,000 source · NUM_T_TOTAL_DEBT_FY2025 | Not available. | 86,282,000,000 source · NUM_TMUS_TOTAL_DEBT_FY2025 |
| Liabilities / equity leverage | 2.32 source · NUM_T_LIABILITIES_TO_EQUITY_FY2025 | 2.82 source · NUM_VZ_LIABILITIES_TO_EQUITY_FY2025 | 2.70 source · NUM_TMUS_LIABILITIES_TO_EQUITY_FY2025 |
| Dividends paid | 8,180,000,000 source · NUM_T_DIVIDENDS_PAID_FY2025 | 11,481,000,000 source · NUM_VZ_DIVIDENDS_PAID_FY2025 | 4,121,000,000 source · NUM_TMUS_DIVIDENDS_PAID_FY2025 |
| Dividends / net income | 37.26% source · NUM_T_PAYOUT_RATIO_FY2025 | 66.85% source · NUM_VZ_PAYOUT_RATIO_FY2025 | 37.49% source · NUM_TMUS_PAYOUT_RATIO_FY2025 |
| Cash and equivalents | 18,234,000,000 source · NUM_T_CASH_FY2025 | 19,048,000,000 source · NUM_VZ_CASH_FY2025 | 5,598,000,000 source · NUM_TMUS_CASH_FY2025 |
| Subscribers | Quarantined: Only 0 of 3 companies have a verified fact; threshold is 1. | ||
| ARPU | Quarantined: Only 0 of 3 companies have a verified fact; threshold is 1. | ||
| Churn | Quarantined: Only 0 of 3 companies have a verified fact; threshold is 1. | ||
Code-computed comparisons
- grepcent-computed capex intensity range: range endpoints are TMUS (11.27%) and T (16.59%).
- grepcent-computed dividend payout range: range endpoints are T (37.26%) and VZ (66.85%).
Narrative Matrix
| Dimension | T | VZ | TMUS |
|---|---|---|---|
| Business model | Quarantined: no direct dimension-relevant quote survived the gate. | In its latest annual MD&A, VZ describes this business model item. [FACT:Q_VZ_BUSINESS_MODEL_1] We also provide FWA broadband through our 5G or 4G LTE networks as an alternative to traditional landline internet access. company page · source filing · fact Q_VZ_BUSINESS_MODEL_1 · filed 2026-02-17 | In its latest annual MD&A, TMUS describes this business model item. [FACT:Q_TMUS_BUSINESS_MODEL_1] The UScellular Wireless Business offers a comprehensive range of wireless communications products and services. company page · source filing · fact Q_TMUS_BUSINESS_MODEL_1 · filed 2026-02-11 |
| Geographic and customer exposure | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Capital allocation | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Stated strategy in filings | In its latest annual MD&A, T describes this stated strategy in filings item. [FACT:Q_T_STATED_STRATEGY_4] As the owner and operator of scaled wireless and fiber networks, we plan to continue to focus on expanding our wireless network capabilities and providing broadband offerings that allow customers to integrate their home or business fixed services with their mobile service. company page · source filing · fact Q_T_STATED_STRATEGY_4 · filed 2026-02-09 | In its latest annual MD&A, VZ describes this stated strategy in filings item. [FACT:Q_VZ_STATED_STRATEGY_1] Our strategy requires significant capital investments primarily to acquire wireless spectrum, put the spectrum into service, provide additional capacity for growth in our networks, invest in fiber, evolve and maintain our networks and develop and maintain significant advanced information technology systems and data system capabilities. company page · source filing · fact Q_VZ_STATED_STRATEGY_1 · filed 2026-02-17 | Quarantined: no direct dimension-relevant quote survived the gate. |
| Idiosyncratic risks in filings | In its latest annual MD&A, T describes this idiosyncratic risks in filings item. [FACT:Q_T_IDIOSYNCRATIC_RISKS_2] In November 2024, we agreed to purchase select spectrum licenses from United States Cellular Corporation (UScellular) for approximately $1,000, subject to closing conditions, including the consummation of UScellular’s sale of its wireless operations and select spectrum assets to T-Mobile US, Inc. company page · source filing · fact Q_T_IDIOSYNCRATIC_RISKS_2 · filed 2026-02-09 | In its latest annual MD&A, VZ describes this idiosyncratic risks in filings item. [FACT:Q_VZ_IDIOSYNCRATIC_RISKS_1] Total interest expense increased during 2025 compared to 2024 primarily as a result of a decrease in capitalized interest due to additional C-Band spectrum licenses being placed into service, partially offset by a decrease in interest costs due to lower average debt balances and a lower interest rate. company page · source filing · fact Q_VZ_IDIOSYNCRATIC_RISKS_1 · filed 2026-02-17 | In its latest annual MD&A, TMUS describes this idiosyncratic risks in filings item. [FACT:Q_TMUS_IDIOSYNCRATIC_RISKS_3] To date, price inflation has not had a significant impact on our operations as we have fixed rates established through long-term contracts for many of our most significant costs, including for many of our tower agreements and backhaul contracts. company page · source filing · fact Q_TMUS_IDIOSYNCRATIC_RISKS_3 · filed 2026-02-11 |
| Recent narrative change | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
Gate summary
Quarantined quantitative rows
- subscribers: Only 0 of 3 companies have a verified fact; threshold is 1.
- arpu: Only 0 of 3 companies have a verified fact; threshold is 1.
- churn: Only 0 of 3 companies have a verified fact; threshold is 1.
Quarantined dimensions
- geographic_customer_exposure: No verified cells survived the gate.
- capital_allocation: No verified cells survived the gate.
- recent_narrative_change: No verified cells survived the gate.
Quarantined cells
- T / business_model: No direct dimension-relevant quote survived the evidence gate.
- T / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- VZ / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- TMUS / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- T / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
- VZ / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
- TMUS / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
- TMUS / stated_strategy: No direct dimension-relevant quote survived the evidence gate.
- T / recent_narrative_change: No direct dimension-relevant quote survived the evidence gate.
- VZ / recent_narrative_change: No direct dimension-relevant quote survived the evidence gate.
- TMUS / recent_narrative_change: No direct dimension-relevant quote survived the evidence gate.