What is Telephone & Data Sys Inc's earnings per share (EPS)?

Telephone & Data Sys Inc (TDS) reported diluted earnings per share of -$0.65 for fiscal year 2025. This represents a 23.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Telephone & Data Sys Inc (TDS) Financials

TDS

Trailing 12 months to June 30, 2026

Revenue $1.3B YoY not available

Net Income $444.2M YoY not available

EPS (Diluted) $3.01 +410.3% YoY

Free Cash Flow -$452.3M -164.7% YoY

Market Cap $4.4B as of Sep 5, 2026

Price / Sales 3.5x on $1.3B revenue, trailing 12 months to June 30, 2026

Price / Earnings 9.8x on $444.2M net income, trailing 12 months to June 30, 2026

Price / Book 0.8x on $5.2B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 7, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TDS SEC filings page.

Telephone & Data Sys Inc (TDS) reported $1.3B in revenue over the twelve months to Jun 30, 2026. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI TDS FY2025 2026-08-29

The dominant mechanic is balance-sheet reshaping: investing proceeds and debt reduction matter more than operating earnings.

FY2025 combined a negative operating margin of -7.9% with net income of $20.2M; that mismatch means reported profit did not come from core operations. A tax benefit of -$62.2M helps explain the crossover, so earnings quality is weaker than the positive bottom line suggests.

Operating cash flow of $589.9M exceeded free cash flow of $199.4M, showing that accounting cash generation was not translating fully into discretionary cash. Capital spending of $390.5M absorbed much of that operating inflow, making capital intensity a central feature of the model.

A large investing inflow of $2.14B paired with a financing outflow of -$2.35B, a pattern consistent with balance-sheet reshaping rather than recurring operating cash generation. Debt-to-equity dropped to 0.2x from 0.5x in FY2024, showing the financing structure changed materially.

Financial Health Signals

Financial Health Score 47/100

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.

Profitability

Telephone & Data Sys Inc has an operating margin of -7.9%, meaning the company loses $8 on every $100 of revenue. This results in a profitability score of 16/100. This is up from -14.8% the prior year.

Growth

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 17/100.

Leverage

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 71/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Telephone & Data Sys Inc's current ratio of 2.10 indicates adequate short-term liquidity, earning a score of 61/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

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.

Returns

Telephone & Data Sys Inc generates a 0.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 23/100. This is up from -0.5% the prior year.

Altman Z-Score Distress

1.19

Telephone & Data Sys Inc scores 1.19, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4.4B) 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.

Piotroski F-Score Partial

8/8

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.

Earnings Quality Cash-Backed

N/A

Telephone & Data Sys Inc reported $20.2M of net income while generating $589.9M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.

Interest Coverage At Risk

N/A

Telephone & Data Sys Inc reported an operating loss of $97.4M against $112.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$309.3M

YoY+3.6%

QoQ-0.1%

Telephone & Data Sys Inc generated $309.3M in revenue in Q2 2026. This represents an increase of 3.6% from the same quarter a year earlier. Against the prior quarter it is down 0.1%.

EBITDA

$462.0M

YoY+526.7%

QoQ+101.1%

Telephone & Data Sys Inc's EBITDA was $462.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 526.7% from the same quarter a year earlier. Against the prior quarter it is up 101.1%.

Net Income

$298.4M

YoY+2478.6%

QoQ+106.3%

Telephone & Data Sys Inc reported $298.4M in net income in Q2 2026. This represents an increase of 2478.6% from the same quarter a year earlier. Against the prior quarter it is up 106.3%.

EPS (Diluted)

$2.42

YoY+4940.0%

QoQ+122.0%

5Y CAGR+70.1%

10Y CAGR+25.5%

Telephone & Data Sys Inc earned $2.42 per diluted share (EPS) in Q2 2026. This represents an increase of 4940.0% from the same quarter a year earlier. Against the prior quarter it is up 122.0%.

Cash & Balance Sheet

Free Cash Flow

-$113.3M

YoY-133.8%

QoQ-38.9%

Telephone & Data Sys Inc recorded an outflow of $113.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 133.8% from the same quarter a year earlier. Against the prior quarter it is down 38.9%.

Cash & Debt

$2.2B

YoY+306.3%

QoQ+60.5%

5Y CAGR+41.6%

10Y CAGR+9.3%

Telephone & Data Sys Inc held $2.2B in cash against $670.6M in long-term debt as of Q2 2026.

Dividends Per Share

$0.04

YoY0.0%

QoQ0.0%

5Y CAGR-25.6%

10Y CAGR-12.3%

Telephone & Data Sys Inc paid $0.04 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

115M

YoY+0.1%

QoQ+1.1%

5Y CAGR0.0%

10Y CAGR+0.5%

Telephone & Data Sys Inc had 115M shares outstanding in Q2 2026. This represents an increase of 0.1% from the same quarter a year earlier. Against the prior quarter it is up 1.1%.

Margins & Returns

Net Margin

96.5%

YoY+92.6pp

QoQ+49.7pp

Telephone & Data Sys Inc's net profit margin was 96.5% in Q2 2026, showing the share of revenue converted to profit. This is up 92.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 49.7 percentage points.

Return on Equity

5.8%

YoY+5.5pp

QoQ+2.8pp

Telephone & Data Sys Inc's ROE was 5.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 5.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.8 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not shown for Q2 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

Capital Expenditures

$168.9M

YoY+96.2%

QoQ+13.3%

5Y CAGR-6.6%

10Y CAGR+3.3%

Telephone & Data Sys Inc invested $168.9M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 96.2% from the same quarter a year earlier. Against the prior quarter it is up 13.3%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

TDS Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TDS quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.3B	$1.2B-5.3%	$1.3B-4.3%	$1.4B-75.0%	$5.4B+1.6%	$5.3B+2.0%	$5.2B+0.9%	$5.2B+1.3%	$5.1B+1.3%	$5.0B-2.2%	$5.2B-1.1%	$5.2B+3.8%	$5.0B+2.4%	$4.9B-8.3%	$5.3B+3.2%	$5.2B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.2B-3.6%	$1.2B+1.3%	$1.2B-9.1%	$1.3B-39.5%	$2.2B-2.1%	$2.3B+10.8%	$2.1B
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$3.8B-1.7%	$3.9B-1.8%	$4.0B+8.6%	$3.7B+37.2%	$2.7B-12.9%	$3.1B-1.8%	$3.1B
SG&A Expenses	$424.2M	$435.1M-10.6%	$486.7M-0.4%	$488.8M-72.4%	$1.8B+5.4%	$1.7B-0.2%	$1.7B-2.1%	$1.7B+1.4%	$1.7B+0.3%	$1.7B-4.1%	$1.8B-1.1%	$1.8B-4.5%	$1.9B-4.2%	$1.9B-4.2%	$2.0B+1.6%	$2.0B
Operating Income	$465.9M	-$97.4M+49.1%	-$191.3M+72.0%	-$682.6M-659.5%	$122.0M-53.3%	$261.0M+0.8%	$259.0M+44.7%	$179.0M-12.7%	$205.0M+289.8%	-$108.0M-200.0%	$108.0M-74.9%	$431.0M+338.1%	-$181.0M-176.9%	$235.4M+28.0%	$183.9M-49.3%	$362.5M
EBITDA	N/A	$206.0M+118.8%	$94.1M+122.8%	-$412.1M-141.0%	$1.0B-9.7%	$1.1B-0.8%	$1.1B+4.9%	$1.1B+2.4%	$1.0B+47.2%	$709.0M-23.6%	$928.0M-25.3%	$1.2B+101.3%	$617.0M-49.4%	$1.2B+22.3%	$997.5M-11.6%	$1.1B
Interest Expense	$76.3M	$112.7M+3.8%	$108.6M+74.6%	$62.2M-64.3%	$174.0M-25.0%	$232.0M+38.1%	$168.0M+1.8%	$165.0M-4.1%	$172.0M+1.2%	$170.0M0.0%	$170.0M+19.7%	$142.0M+27.9%	$111.0M+12.3%	$98.8M+13.9%	$86.7M-26.6%	$118.2M
Income Tax	$111.0M	-$62.2M-181.8%	-$22.1M-39.7%	-$15.8M-129.8%	$53.0M+60.6%	$33.0M+73.7%	$19.0M-70.3%	$64.0M+39.1%	$46.0M+116.5%	-$279.0M-797.5%	$40.0M-76.7%	$172.0M+3540.0%	-$5.0M-104.0%	$126.0M+71.3%	$73.6M-35.2%	$113.5M
Net Income	$444.2M	$20.2M+176.4%	-$26.5M+94.6%	-$487.3M-780.0%	$71.7M-61.9%	$188.1M-16.8%	$226.0M+86.8%	$121.0M-10.4%	$135.0M-11.8%	$153.0M+255.8%	$43.0M-80.4%	$219.0M+261.0%	-$136.0M-195.8%	$141.9M+73.4%	$81.9M-59.2%	$200.6M
EPS (Basic)	N/A	-$0.66+22.4%	-$0.85+83.2%	-$5.05-7114.3%	-$0.07-106.8%	$1.03-47.7%	$1.97+85.8%	$1.06-11.7%	$1.20-13.7%	$1.39+256.4%	$0.39-80.7%	$2.02+260.3%	-$1.26-196.2%	$1.31+74.7%	$0.75-59.5%	$1.85
EPS (Diluted)	$3.01	-$0.65+23.5%	-$0.85	-$5.05-7114.3%	-$0.07-107.0%	$1.00	$1.93+87.4%	$1.03-12.0%	$1.17-14.6%	$1.37+251.3%	$0.39-80.3%	$1.98+257.1%	-$1.26-197.7%	$1.29+72.0%	$0.75-59.0%	$1.83
Diluted Shares (Avg)	N/A	119M+4.3%	114M	113M-1.1%	114M-1.7%	116M	115M-0.9%	116M+1.8%	114M+1.8%	112M+0.9%	111M+0.9%	110M+1.9%	108M-1.0%	109M+0.2%	109M-0.1%	109M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$309.3M+3.6%	$309.4M+6.5%	$330.7M	$308.5M-5.8%	$298.5M-75.9%	$290.4M-77.0%	N/A	$327.5M-74.4%
SG&A Expenses	$111.5M+2.6%	$102.7M-11.8%	$103.9M	$106.2M-8.9%	$108.6M-74.5%	$116.4M-72.5%	N/A	$116.6M-73.0%
Operating Income	$373.2M+3132.5%	$143.8M+523.8%	$16.8M	-$68.0M+54.6%	-$12.3M-131.6%	-$33.9M-150.6%	N/A	-$149.7M-411.9%
EBITDA	$462.0M+526.7%	$229.8M+355.9%	$58.1M	$23.8M+134.5%	$73.7M-72.9%	$50.4M-83.3%	N/A	-$68.8M-125.2%
Interest Expense	$11.4M-61.0%	$5.3M-77.7%	$12.3M	$47.3M+44.6%	$29.2M-60.0%	$23.9M-58.1%	N/A	$32.7M-47.3%
Income Tax	$106.4M+2619.2%	$54.4M+769.8%	$22.9M	-$72.8M-137.4%	-$4.2M-170.4%	-$8.1M-140.6%	N/A	-$30.7M-213.5%
Net Income	$298.4M+2478.6%	$144.6M+1835.7%	$83.0M	-$81.8M-24.4%	$11.6M+285.7%	$7.5M-74.2%	N/A	-$65.7M
EPS (Basic)	$2.45+5000.0%	$1.12+1344.4%	$0.33+430.0%	-$0.85-16.4%	-$0.05+61.5%	-$0.09-181.8%	-$0.10+97.8%	-$0.73-356.2%
EPS (Diluted)	$2.42+4940.0%	$1.09+1311.1%	$0.34+440.0%	-$0.84-15.1%	-$0.05+61.5%	-$0.09-190.0%	-$0.10+97.8%	-$0.73-356.2%
Diluted Shares (Avg)	116M+0.9%	117M+1.8%	N/A	119M+4.2%	115M+1.1%	115M-2.1%	N/A	114M+0.9%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

TDS Balance Sheet

TDS quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$8.4B-38.6%	$13.7B+68.2%	$8.1B-44.1%	$14.6B+7.8%	$13.5B+7.7%	$12.5B+16.2%	$10.8B+10.2%	$9.8B+5.3%	$9.3B-1.6%	$9.4B+0.3%	$9.4B+6.4%	$8.9B-0.1%	$8.9B+2.7%	$8.6B+5.2%	$8.2B
Current Assets	$923.5M-45.5%	$1.7B+2.1%	$1.7B-18.1%	$2.0B-0.8%	$2.0B-32.5%	$3.0B+57.5%	$1.9B-17.6%	$2.3B+18.5%	$2.0B-4.5%	$2.1B-4.6%	$2.2B+22.1%	$1.8B-15.3%	$2.1B+18.4%	$1.8B+3.4%	$1.7B
Cash & Equivalents	$766.0M+110.7%	$363.6M+54.1%	$236.0M-34.4%	$360.0M-1.9%	$367.0M-74.3%	$1.4B+207.3%	$465.0M-49.5%	$921.0M+48.8%	$619.0M-31.2%	$900.0M-8.6%	$985.0M+108.7%	$472.0M-43.1%	$830.0M+12.1%	$740.5M+31.5%	$563.3M
Short-Term Investments	$0	$0	$0	$0	$0-100.0%	$3.0M	$0-100.0%	$17.0M-83.0%	$100.0M	$0	$0	$0-100.0%	$50.1M-56.7%	$115.7M-53.0%	$246.3M
Inventory	$4.1M+0.2%	$4.1M-98.1%	$208.0M-22.4%	$268.0M+50.6%	$178.0M+15.6%	$154.0M-8.9%	$169.0M+12.7%	$150.0M+3.4%	$145.0M-4.0%	$151.0M-4.4%	$158.0M-42.3%	$273.7M+11.9%	$244.6M+52.2%	$160.7M+23.6%	$130.0M
Accounts Receivable	$68.7M+20.3%	$57.1M-94.2%	$992.0M-7.2%	$1.1B+1.0%	$1.1B+5.4%	$1.0B-0.1%	$1.0B+1.3%	$992.0M+15.2%	$861.0M+14.3%	$753.0M+6.8%	$705.0M+28.5%	$548.5M-0.6%	$551.6M+34.6%	$409.7M+4.0%	$394.0M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$1.0M+62.3%	$616K+21.3%	$508K-20.7%	$641K-98.7%	$50.3M+11.4%	$45.1M
Goodwill	N/A	N/A	$0-100.0%	$547.0M0.0%	$547.0M0.0%	$547.0M0.0%	$547.0M+7.5%	$509.0M0.0%	$509.0M-33.6%	$766.0M0.0%	$766.0M-0.7%	$771.4M-7.8%	$836.8M+5.0%	$797.2M0.0%	$797.1M
Total Liabilities	$3.6B-58.1%	$8.6B+192.9%	$2.9B-66.3%	$8.7B+15.0%	$7.6B-2.0%	$7.7B+26.0%	$6.1B+17.3%	$5.2B+3.9%	$5.0B-5.2%	$5.3B+0.1%	$5.3B+7.5%	$4.9B+3.9%	$4.7B+2.8%	$4.6B+8.8%	$4.2B
Current Liabilities	$440.3M-59.6%	$1.1B-8.0%	$1.2B-21.8%	$1.5B+28.3%	$1.2B+2.3%	$1.2B+19.9%	$962.0M+9.4%	$879.0M-4.2%	$918.0M+3.5%	$887.0M-6.0%	$944.0M-11.2%	$1.1B-10.8%	$1.2B+28.9%	$924.6M+5.8%	$874.1M
Non-Current Liabilities	$3.2B-57.9%	$7.5B+328.9%	$1.7B-75.7%	$7.2B+12.5%	$6.4B-2.8%	$6.6B+27.1%	$5.2B+18.9%	$4.3B+5.7%	$4.1B-7.0%	$4.4B+1.4%	$4.4B+12.6%	$3.9B+8.8%	$3.6B-3.7%	$3.7B+9.6%	$3.4B
Long-Term Debt	$823.4M-65.9%	$2.4B	N/A	$3.7B+27.4%	$2.9B-14.5%	$3.4B+47.8%	$2.3B-4.2%	$2.4B-0.8%	$2.4B+0.2%	$2.4B-0.3%	$2.4B+25.7%	$1.9B+12.8%	$1.7B-0.1%	$1.7B+12.5%	$1.5B
Total Equity	$4.8B-5.7%	$5.1B-2.1%	$5.2B-11.1%	$5.8B-1.3%	$5.9B+23.4%	$4.8B+3.2%	$4.7B+2.0%	$4.6B+6.8%	$4.3B+3.0%	$4.1B+0.4%	$4.1B+5.1%	$3.9B-4.7%	$4.1B+2.6%	$4.0B+1.2%	$4.0B
Retained Earnings	$1.7B-8.4%	$1.8B-8.6%	$2.0B-25.0%	$2.7B-4.0%	$2.8B+0.4%	$2.8B+4.9%	$2.7B+0.6%	$2.7B+5.2%	$2.5B+2.9%	$2.5B-1.3%	$2.5B+6.7%	$2.3B-7.9%	$2.5B+2.7%	$2.5B+0.5%	$2.5B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$8.4B+2.6%	$8.2B+2.2%	$8.4B-38.6%	$8.5B-37.8%	$8.2B-41.1%	$8.0B-42.0%	$13.7B+68.2%	$13.7B-4.8%
Current Assets	$2.4B+31.6%	$1.5B-9.1%	$923.5M-45.5%	$1.1B-38.2%	$1.8B+8.8%	$1.7B+2.8%	$1.7B+2.1%	$1.7B+3.9%
Cash & Equivalents	$2.2B+306.3%	$1.4B+292.7%	$766.0M+110.7%	$933.0M+106.9%	$540.0M+67.7%	$348.0M+39.8%	$363.6M+54.1%	$451.0M+76.2%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$3.8M-97.1%	$3.7M-97.9%	$4.1M+0.2%	$4.0M-97.6%	$130.0M-12.2%	$182.0M-1.1%	$4.1M-98.1%	$167.0M-7.7%
Accounts Receivable	$63.3M-93.1%	$63.4M-93.1%	$68.7M+20.3%	$59.3M-93.6%	$920.0M-3.3%	$921.0M-3.6%	$57.1M-94.2%	$929.0M-6.0%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$3.2B+1.3%	$3.3B+11.1%	$3.6B-58.1%	$4.1B-53.0%	$3.2B-63.7%	$3.0B-65.8%	$8.6B+192.9%	$8.7B-0.4%
Current Liabilities	$615.6M-38.5%	$443.7M-53.8%	$440.3M-59.6%	$571.4M-48.0%	$1.0B-7.8%	$960.0M-6.9%	$1.1B-8.0%	$1.1B-17.3%
Non-Current Liabilities	$2.6B+19.7%	$2.8B+42.3%	$3.2B-57.9%	$3.5B-53.7%	$2.2B-71.6%	$2.0B-73.8%	$7.5B+328.9%	$7.6B+2.6%
Long-Term Debt	$670.6M	$672.7M	$823.4M-65.9%	$825.3M-79.9%	N/A	N/A	$2.4B	$4.1B+6.7%
Total Equity	$5.2B+3.3%	$4.9B-3.0%	$4.8B-5.7%	$4.5B-12.0%	$5.0B-2.8%	$5.1B-2.4%	$5.1B-2.1%	$5.1B-11.4%
Retained Earnings	$2.0B+14.6%	$1.8B-0.2%	$1.7B-8.4%	$1.3B-30.2%	$1.8B-9.8%	$1.8B-9.5%	$1.8B-8.6%	$1.9B-27.3%

Not reported in any period shown, so not listed: Goodwill.

TDS Cash Flow Statement

TDS quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$105.7M	$589.9M-48.5%	$1.1B+0.4%	$1.1B-1.2%	$1.2B+4.7%	$1.1B-28.0%	$1.5B+50.8%	$1.0B-0.1%	$1.0B+31.1%	$776.0M-0.8%	$782.0M-1.0%	$790.0M+100.0%	$395.0M-20.1%	$494.6M-55.2%	$1.1B-12.0%	$1.3B
Depreciation & Amortization	N/A	$303.4M+6.3%	$285.4M+5.5%	$270.5M-69.3%	$882.0M+3.6%	$851.0M-1.3%	$862.0M-3.1%	$890.0M+6.1%	$839.0M+2.7%	$817.0M-0.4%	$820.0M+1.1%	$811.0M+1.6%	$798.0M-18.9%	$984.4M+21.0%	$813.6M+6.2%	$765.8M
Stock-Based Compensation	N/A	$27.2M+48.2%	$18.3M-6.4%	$19.6M-53.4%	$42.0M-14.3%	$49.0M-7.5%	$53.0M-10.2%	$59.0M+9.3%	$54.0M+17.4%	$46.0M+9.5%	$42.0M+5.0%	$40.0M+11.1%	$36.0M+18.7%	$30.3M-27.5%	$41.9M+13.7%	$36.8M
Capital Expenditures	$558.0M	$390.5M+6.9%	$365.4M-43.2%	$643.1M-44.6%	$1.2B+2.7%	$1.1B-15.5%	$1.3B+39.8%	$957.0M+23.3%	$776.0M+13.3%	$685.0M+7.7%	$636.0M-20.6%	$801.0M+0.3%	$799.0M-9.6%	$883.8M-11.2%	$995.5M+2.4%	$971.8M
Free Cash Flow	-$452.3M	$199.4M-74.5%	$780.4M+56.7%	$498.1M+8401.4%	-$6.0M+78.6%	-$28.0M-114.4%	$194.0M+228.8%	$59.0M-75.5%	$241.0M+164.8%	$91.0M-37.7%	$146.0M+1427.3%	-$11.0M+97.3%	-$404.0M-3.8%	-$389.2M-454.9%	$109.7M-61.4%	$284.0M
Investing Cash Flow	$4.3B	$2.1B+384.2%	-$754.5M+43.1%	-$1.3B+25.6%	-$1.8B+27.6%	-$2.5B-62.9%	-$1.5B-21.0%	-$1.2B-83.7%	-$680.0M+30.7%	-$981.0M-21.4%	-$808.0M-8.7%	-$743.0M	N/A	N/A	-$998.1M-15.2%	-$866.1M
Financing Cash Flow	-$2.7B	-$2.3B-745.9%	-$277.5M-595.1%	$56.0M-90.9%	$613.0M+91.0%	$321.0M-66.5%	$957.0M+535.0%	-$220.0M-587.5%	-$32.0M+58.4%	-$77.0M-30.5%	-$59.0M-112.8%	$461.0M	N/A	N/A	$70.1M+141.7%	-$168.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$55.2M+4.0%	$53.1M+9.3%	$48.6M
Share Buybacks	N/A	$108.1M	$0-100.0%	$5.8M-85.5%	$40.0M+400.0%	$8.0M-42.9%	$14.0M	$0	$0	$0-100.0%	$3.0M	$0-100.0%	$39.0M+302.4%	$9.7M-51.6%	$20.0M-6.9%	$21.5M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$55.6M-86.8%	$67.5M-63.7%	$19.6M-90.8%	-$37.0M-112.0%	$421.7M+4.9%	$185.6M-17.1%	$212.8M-2.5%	$307.1M-24.9%
Depreciation & Amortization	$88.8M+3.2%	$85.9M+1.9%	$41.3M	$91.7M+13.4%	$86.0M-63.1%	$84.3M-64.0%	N/A	$80.9M-64.1%
Stock-Based Compensation	N/A	$4.2M-67.4%	N/A	N/A	N/A	$12.7M-8.9%	N/A	N/A
Capital Expenditures	$168.9M+96.2%	$149.0M+131.5%	$128.5M+33.5%	$111.6M-38.6%	$86.1M-60.1%	$64.4M-72.6%	$96.2M-63.4%	-$181.8M-34.4%
Free Cash Flow	-$113.3M-133.8%	-$81.6M-167.3%	-$108.9M-193.5%	-$148.5M-218.5%	$335.6M+80.4%	$121.2M+1202.0%	$116.5M+360.2%	$125.3M-5.1%
Investing Cash Flow	$1.0B+813.2%	$867.8M+807.4%	-$84.6M+51.6%	$2.5B+2272.7%	-$140.8M+35.7%	-$122.7M+50.1%	-$174.8M+56.9%	-$114.7M+60.9%
Financing Cash Flow	-$232.6M-150.8%	-$334.6M-346.4%	-$102.0M+19.2%	-$2.1B-3040.0%	-$92.7M+19.4%	-$75.0M-349.9%	-$126.3M-177.5%	-$66.2M+43.0%
Share Buybacks	N/A	N/A	$67.4M	N/A	N/A	N/A	$0-100.0%	$0

Not reported in any period shown, so not listed: Dividends Paid.

TDS Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TDS quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	76.3%+0.4pp	75.9%-0.6pp	76.5%+3.3pp	73.2%+18.6pp	54.6%-2.9pp	57.5%-2.9pp	60.4%
Operating Margin	-7.9%+6.8pp	-14.8%+35.6pp	-50.4%-52.6pp	2.3%-2.7pp	4.9%-0.1pp	5.0%+1.5pp	3.5%-0.5pp	4.0%+6.2pp	-2.1%-4.2pp	2.1%-6.2pp	8.3%+11.9pp	-3.6%-8.4pp	4.8%+1.4pp	3.4%-3.6pp	7.0%
Net Margin	1.7%+3.7pp	-2.0%+33.9pp	-36.0%-37.3pp	1.3%-2.2pp	3.5%-0.8pp	4.3%+2.0pp	2.3%-0.3pp	2.6%-0.4pp	3.0%+2.2pp	0.8%-3.4pp	4.2%+6.9pp	-2.7%-5.6pp	2.9%+1.4pp	1.5%-2.3pp	3.9%
Return on Equity	0.4%+0.9pp	-0.5%+8.9pp	-9.4%-10.6pp	1.2%-1.9pp	3.2%-1.5pp	4.7%+2.1pp	2.6%-0.4pp	3.0%-0.6pp	3.6%+2.5pp	1.0%-4.3pp	5.3%+8.8pp	-3.5%-6.9pp	3.5%+1.4pp	2.0%-3.0pp	5.1%
Return on Assets	0.2%+0.4pp	-0.2%+5.8pp	-6.0%-6.5pp	0.5%-0.9pp	1.4%-0.4pp	1.8%+0.7pp	1.1%-0.3pp	1.4%-0.3pp	1.7%+1.2pp	0.5%-1.9pp	2.3%+3.9pp	-1.5%-3.1pp	1.6%+0.7pp	0.9%-1.5pp	2.5%
Current Ratio	2.10+0.5x	1.56+0.2x	1.40+0.1x	1.34-0.4x	1.73-0.9x	2.62+0.6x	2.00-0.7x	2.65+0.5x	2.14-0.2x	2.320.0x	2.29+0.6x	1.66-0.1x	1.75-0.2x	1.910.0x	1.95
Debt-to-Equity	0.17-0.3x	0.47-0.1x	0.56-0.1x	0.64+0.1x	0.49-0.2x	0.71+0.2x	0.500.0x	0.530.0x	0.570.0x	0.590.0x	0.59+0.1x	0.49+0.1x	0.420.0x	0.430.0x	0.39
Asset Turnover	0.15+0.1x	0.09-0.1x	0.17-0.2x	0.370.0x	0.390.0x	0.42-0.1x	0.480.0x	0.520.0x	0.540.0x	0.550.0x	0.550.0x	0.570.0x	0.55-0.1x	0.620.0x	0.63
FCF Margin	16.2%-43.9pp	60.2%+23.4pp	36.8%+36.9pp	-0.1%+0.4pp	-0.5%-4.2pp	3.7%+2.6pp	1.1%-3.6pp	4.7%+2.9pp	1.8%-1.0pp	2.8%+3.0pp	-0.2%+7.8pp	-8.1%-0.1pp	-7.9%-10.0pp	2.1%-3.4pp	5.5%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	120.7%	46.5%+58.2pp	5.1%	-22.0%+23.7pp	-4.1%-7.3pp	-11.7%-17.0pp	N/A	-45.7%-49.5pp
Net Margin	96.5%+92.6pp	46.7%+44.2pp	25.1%	-26.5%-6.4pp	3.9%+3.6pp	2.6%+0.3pp	N/A	-20.1%-20.1pp
Return on Equity	5.8%+5.5pp	2.9%+2.8pp	1.7%	-1.8%-0.5pp	0.2%+0.2pp	0.1%-0.4pp	N/A	-1.3%-1.3pp
Return on Assets	3.6%+3.4pp	1.8%+1.7pp	1.0%	-1.0%-0.5pp	0.1%+0.1pp	0.1%-0.1pp	N/A	-0.5%-0.5pp
Current Ratio	3.82+2.0x	3.43+1.7x	2.10+0.5x	1.89+0.3x	1.78+0.3x	1.74+0.2x	1.56+0.2x	1.59+0.3x
Debt-to-Equity	0.13-0.5x	0.14-0.4x	0.17-0.3x	0.18-0.6x	0.63-0.2x	0.58-0.2x	0.47-0.1x	0.81+0.1x
Asset Turnover	0.040.0x	0.040.0x	0.04	0.040.0x	0.04-0.1x	0.04-0.1x	N/A	0.02-0.1x
FCF Margin	-36.6%	-26.4%-68.1pp	-32.9%	-48.1%-86.4pp	112.4%	41.7%+42.6pp	N/A	38.3%+27.9pp

Not reported in any period shown, so not listed: Gross Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Telephone & Data Sys Inc TDS	FY2025	$1.2B	$20.2M	1.7%	$4.4B	47/100
Liberty Global Plc LBTYA	FY2025	$4.9B	-$7.1B	N/A	$3.6B	36/100
Liberty Global LBTYB	FY2025	$4.9B	-$7.1B	N/A	$4.5B	36/100
Liberty Global LBTYK	FY2025	$4.9B	-$7.1B	N/A	$3.6B	36/100
Veon Ltd VEON	FY2025	$4.4B	$591.0M	13.4%	$4.4B	19/100

Where Telephone & Data Sys Inc Ranks

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.

Does Telephone & Data Sys Inc buy back shares?

Yes, Telephone & Data Sys Inc (TDS) spent $108.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Telephone & Data Sys Inc have outstanding?

Telephone & Data Sys Inc (TDS) had 114M shares outstanding as of fiscal year 2025.

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 P/E ratio?

Telephone & Data Sys Inc (TDS) trades at 9.8x earnings, its market capitalization divided by net income of $444.2M net income, trailing 12 months to June 30, 2026. The market capitalization is $4.4B as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Telephone & Data Sys Inc's price-to-sales ratio?

Telephone & Data Sys Inc (TDS) trades at 3.5x sales, its market capitalization divided by revenue of $1.3B revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.4B as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Telephone & Data Sys Inc's Altman Z-Score?

Telephone & Data Sys Inc (TDS) has an Altman Z-Score of 1.19, 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) reported $20.2M of net income while generating $589.9M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. 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) reported an operating loss of $97.4M against $112.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 47 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.