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T-Mobile US Inc TMUS Stock Quote

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Morningstar‘s Stock Analysis TMUS

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T-Mobile Takes Another Step Toward Spectrum Control Through Auction 108 as AT&T, Verizon Play Nice

Analyst Note

| Michael Hodel, CFA |

T-Mobile not only dominated Federal Communications Commission spectrum auction 108, but it did so at a great price, spending only $304 million to solidify its hold on the EBS portion of the 2.5-gigahertz spectrum band. The small sum is a modest positive for valuation, but we’re leaving our fair value estimate at $155 per share for now. For context, T-Mobile’s spectrum spending in 2022 will total about $7 billion, split between an earlier, more traditional spectrum auction and an agreement to acquire licenses it is currently leasing from investment firm Columbia Capital.

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Key Statistics TMUS

Company Profile TMUS

Business Description

Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, creating T-Mobile us. Following the merger, the firm provided nationwide service in major markets but spottier coverage elsewhere. T-Mobile spent aggressively on low-frequency spectrum, well suited to broad coverage, and has substantially expanded its geographic footprint. This expansion, coupled with aggressive marketing and innovative offerings, produced rapid customer growth. With the Sprint acquisition, the firm’s scale now roughly matches its larger rivals: T-Mobile now serves 71 million postpaid and 21 million prepaid phone customers, equal to around 30% of the U.S. retail wireless market. In addition, the firm provides wholesale service to resellers.

12920 SE 38th Street
Bellevue, WA, 98006-1350
T +1 425 378-4000
Industry Telecom Services
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 75,000

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