Telephone & Data Sys Inc Financials
This page shows Telephone & Data Sys Inc (TDS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Asset sales and debt paydown are reshaping TDS faster than revenue, leaving a smaller but less leveraged business.
FY2025’s positive net income did not come from a fully profitable core: operating income stayed negative at-$97.4M while interest expense was$112.7M , so the bottom-line profit depended on below-operating-line help rather than operating strength. At the same time, operating cash flow fell from$1.15B in FY2024 to$589.9M , showing that accounting profit improved even as cash generation weakened.
The clearest structural shift is on the balance sheet: investing cash flow swung to an inflow of
The operating picture improved mostly through cost resizing, not renewed scale: revenue slipped to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Telephone & Data Sys Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Telephone & Data Sys Inc has an operating margin of -7.9%, meaning the company retains $-8 of operating profit per $100 of revenue. This below-average margin results in a low score of 19/100, suggesting thin profitability after operating expenses. This is up from -14.8% the prior year.
Telephone & Data Sys Inc's revenue declined 5.3% year-over-year, from $1.3B to $1.2B. This contraction results in a growth score of 18/100.
Telephone & Data Sys Inc carries a low D/E ratio of 0.17, meaning only $0.17 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 70/100, indicating a strong balance sheet with room for future borrowing.
Telephone & Data Sys Inc's current ratio of 2.10 indicates adequate short-term liquidity, earning a score of 60/100. The company can meet its near-term obligations, though with limited headroom.
Telephone & Data Sys Inc converts 16.2% of revenue into free cash flow ($199.4M). This strong cash generation earns a score of 96/100.
Telephone & Data Sys Inc generates a 0.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 26/100. This is up from -0.5% the prior year.
Telephone & Data Sys Inc scores 1.11, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.9B) relative to total liabilities ($3.6B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Telephone & Data Sys Inc passes 8 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Telephone & Data Sys Inc generates $29.14 in operating cash flow ($589.9M OCF vs $20.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Telephone & Data Sys Inc earns $-0.9 in operating income for every $1 of interest expense (-$97.4M vs $112.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Telephone & Data Sys Inc generated $1.2B in revenue in fiscal year 2025. This represents a decrease of 5.3% from the prior year.
Telephone & Data Sys Inc's EBITDA was $206.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 118.8% from the prior year.
Telephone & Data Sys Inc reported $20.2M in net income in fiscal year 2025. This represents an increase of 176.4% from the prior year.
Telephone & Data Sys Inc earned $-0.65 per diluted share (EPS) in fiscal year 2025. This represents an increase of 23.5% from the prior year.
Cash & Balance Sheet
Telephone & Data Sys Inc generated $199.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 74.5% from the prior year.
Telephone & Data Sys Inc held $766.0M in cash against $823.4M in long-term debt as of fiscal year 2025.
Telephone & Data Sys Inc paid $0.16 per share in dividends in fiscal year 2025. This represents a decrease of 48.4% from the prior year.
Telephone & Data Sys Inc had 114M shares outstanding in fiscal year 2025. This represents a decrease of 0.5% from the prior year.
Margins & Returns
Telephone & Data Sys Inc's operating margin was -7.9% in fiscal year 2025, reflecting core business profitability. This is up 6.8 percentage points from the prior year.
Telephone & Data Sys Inc's net profit margin was 1.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.7 percentage points from the prior year.
Telephone & Data Sys Inc's ROE was 0.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.9 percentage points from the prior year.
Capital Allocation
Telephone & Data Sys Inc spent $108.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Telephone & Data Sys Inc invested $390.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 6.9% from the prior year.
TDS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $309.4M | N/A | $308.5M-74.0% | $1.2B+308.4% | $290.4M | N/A | $327.5M-73.5% | $1.2B |
| Cost of Revenue | $118.7M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $131.7M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $102.7M | N/A | $106.2M-74.8% | $421.0M+261.6% | $116.4M | N/A | $116.6M-72.6% | $426.0M |
| Operating Income | $143.8M | N/A | -$68.0M-269.9% | $40.0M+217.9% | -$33.9M | N/A | -$149.7M-483.9% | $39.0M |
| Interest Expense | $5.3M | N/A | $47.3M-32.5% | $70.0M+192.8% | $23.9M | N/A | $32.7M-55.2% | $73.0M |
| Income Tax | $54.4M | N/A | -$72.8M-2525.7% | $3.0M+136.9% | -$8.1M | N/A | -$30.7M-610.9% | $6.0M |
| Net Income | $144.6M | N/A | -$81.8M-781.3% | $12.0M+60.6% | $7.5M | N/A | -$65.7M-2291.3% | $3.0M |
| EPS (Diluted) | $1.09 | N/A | $-0.84-1580.0% | $-0.05+44.4% | $-0.09 | N/A | $-0.73-461.5% | $-0.13 |
TDS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.2B-2.2% | $8.4B-1.6% | $8.5B-36.9% | $13.5B+68.3% | $8.0B-41.3% | $13.7B-0.3% | $13.7B-1.0% | $13.9B |
| Current Assets | $1.5B+64.6% | $923.5M-14.5% | $1.1B-39.5% | $1.8B+6.8% | $1.7B-1.3% | $1.7B-2.9% | $1.7B+6.4% | $1.6B |
| Cash & Equivalents | $1.4B+78.4% | $766.0M-17.9% | $933.0M+72.8% | $540.0M+55.2% | $348.0M-4.3% | $363.6M-19.4% | $451.0M+40.1% | $322.0M |
| Inventory | $3.7M-7.8% | $4.1M+0.6% | $4.0M-96.9% | $130.0M-28.6% | $182.0M+4391.6% | $4.1M-97.6% | $167.0M+12.8% | $148.0M |
| Accounts Receivable | $63.4M-7.7% | $68.7M+15.9% | $59.3M-93.6% | $920.0M-0.1% | $921.0M+1511.9% | $57.1M-93.8% | $929.0M-2.3% | $951.0M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $3.3B-8.6% | $3.6B-11.5% | $4.1B-52.3% | $8.5B+188.0% | $3.0B-65.6% | $8.6B-0.7% | $8.7B-0.8% | $8.7B |
| Current Liabilities | $443.7M+0.8% | $440.3M-22.9% | $571.4M-42.9% | $1.0B+4.3% | $960.0M-11.9% | $1.1B-0.8% | $1.1B+1.1% | $1.1B |
| Long-Term Debt | $672.7M-18.3% | $823.4M-0.2% | $825.3M-79.5% | $4.0B | N/A | $2.4B-41.0% | $4.1B-0.1% | $4.1B |
| Total Equity | $4.9B+2.6% | $4.8B+7.5% | $4.5B-10.7% | $5.0B-1.5% | $5.1B-0.3% | $5.1B+0.3% | $5.1B-1.4% | $5.1B |
| Retained Earnings | $1.8B+7.0% | $1.7B+30.2% | $1.3B-26.3% | $1.8B-2.9% | $1.8B-1.7% | $1.8B-0.9% | $1.9B-4.7% | $2.0B |
TDS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $67.5M+244.6% | $19.6M+153.4% | -$36.7M-108.7% | $421.4M+127.0% | $185.6M-12.8% | $212.8M-30.7% | $307.1M-23.6% | $402.0M |
| Capital Expenditures | $149.0M+16.0% | $128.5M+636.6% | -$23.9M-110.8% | $221.6M+244.2% | $64.4M-33.1% | $96.2M+152.9% | -$181.8M-184.2% | $216.0M |
| Free Cash Flow | -$81.6M+25.1% | -$108.9M-79.6% | -$60.6M-130.3% | $199.8M+64.8% | $121.2M+4.0% | $116.5M-7.0% | $125.3M-32.6% | $186.0M |
| Investing Cash Flow | $867.8M+1125.6% | -$84.6M-103.4% | $2.5B+1863.9% | -$141.3M-15.2% | -$122.7M+29.8% | -$174.8M-52.4% | -$114.7M+47.6% | -$219.0M |
| Financing Cash Flow | -$334.6M-228.1% | -$102.0M+95.1% | -$2.1B-2132.6% | -$93.0M-24.1% | -$75.0M+40.6% | -$126.3M-90.9% | -$66.2M+42.5% | -$115.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | $67.4M | N/A | N/A | N/A | $0 | $0 | $0 |
TDS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 46.5% | N/A | -22.0%-25.4pp | 3.4%+15.1pp | -11.7% | N/A | -45.7%-48.9pp | 3.1% |
| Net Margin | 46.7% | N/A | -26.5%-27.5pp | 1.0%-1.6pp | 2.6% | N/A | -20.1%-20.3pp | 0.2% |
| Return on Equity | 2.9% | N/A | -1.8%-2.1pp | 0.2%+0.1pp | 0.1% | N/A | -1.3%-1.4pp | 0.1% |
| Return on Assets | 1.8% | N/A | -1.0%-1.0pp | 0.1%0.0pp | 0.1% | N/A | -0.5%-0.5pp | 0.0% |
| Current Ratio | 3.43+1.3 | 2.10+0.2 | 1.89+0.1 | 1.78+0.0 | 1.74+0.2 | 1.56-0.0 | 1.59+0.1 | 1.51 |
| Debt-to-Equity | 0.14-0.0 | 0.17-0.0 | 0.18-0.6 | 0.81+0.2 | 0.58+0.1 | 0.47-0.3 | 0.81+0.0 | 0.80 |
| FCF Margin | -26.4% | N/A | -19.7%-36.5pp | 16.9%-24.9pp | 41.7% | N/A | 38.3%+23.2pp | 15.0% |
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Frequently Asked Questions
What is Telephone & Data Sys Inc's annual revenue?
Telephone & Data Sys Inc (TDS) reported $1.2B in total revenue for fiscal year 2025. This represents a -5.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Telephone & Data Sys Inc's revenue growing?
Telephone & Data Sys Inc (TDS) revenue declined by 5.3% year-over-year, from $1.3B to $1.2B in fiscal year 2025.
Is Telephone & Data Sys Inc profitable?
Yes, Telephone & Data Sys Inc (TDS) reported a net income of $20.2M in fiscal year 2025, with a net profit margin of 1.7%.
What is Telephone & Data Sys Inc's EBITDA?
Telephone & Data Sys Inc (TDS) had EBITDA of $206.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Telephone & Data Sys Inc have?
As of fiscal year 2025, Telephone & Data Sys Inc (TDS) had $766.0M in cash and equivalents against $823.4M in long-term debt.
What is Telephone & Data Sys Inc's operating margin?
Telephone & Data Sys Inc (TDS) had an operating margin of -7.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Telephone & Data Sys Inc's net profit margin?
Telephone & Data Sys Inc (TDS) had a net profit margin of 1.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Telephone & Data Sys Inc pay dividends?
Yes, Telephone & Data Sys Inc (TDS) paid $0.16 per share in dividends during fiscal year 2025.
What is Telephone & Data Sys Inc's return on equity (ROE)?
Telephone & Data Sys Inc (TDS) has a return on equity of 0.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Telephone & Data Sys Inc's free cash flow?
Telephone & Data Sys Inc (TDS) generated $199.4M in free cash flow during fiscal year 2025. This represents a -74.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Telephone & Data Sys Inc's operating cash flow?
Telephone & Data Sys Inc (TDS) generated $589.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Telephone & Data Sys Inc's total assets?
Telephone & Data Sys Inc (TDS) had $8.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Telephone & Data Sys Inc's capital expenditures?
Telephone & Data Sys Inc (TDS) invested $390.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Telephone & Data Sys Inc's current ratio?
Telephone & Data Sys Inc (TDS) had a current ratio of 2.10 as of fiscal year 2025, which is generally considered healthy.
What is Telephone & Data Sys Inc's debt-to-equity ratio?
Telephone & Data Sys Inc (TDS) had a debt-to-equity ratio of 0.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Telephone & Data Sys Inc's return on assets (ROA)?
Telephone & Data Sys Inc (TDS) had a return on assets of 0.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Telephone & Data Sys Inc's Altman Z-Score?
Telephone & Data Sys Inc (TDS) has an Altman Z-Score of 1.11, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Telephone & Data Sys Inc's Piotroski F-Score?
Telephone & Data Sys Inc (TDS) has a Piotroski F-Score of 8 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Telephone & Data Sys Inc's earnings high quality?
Telephone & Data Sys Inc (TDS) has an earnings quality ratio of 29.14x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Telephone & Data Sys Inc cover its interest payments?
Telephone & Data Sys Inc (TDS) has an interest coverage ratio of -0.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Telephone & Data Sys Inc?
Telephone & Data Sys Inc (TDS) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.