PerpEquities

Equity · Communication services

T-Mobile US, Inc. (TMUS) perpetual futures

TMUS perpetual futures on 2 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade TMUSUSDT.

T-Mobile US provides mobile telecommunications services, including voice, messaging and data, plus wireless devices, through postpaid, prepaid and wholesale segments in the US, Puerto Rico and the US Virgin Islands.

$148.62-13.3%NASDAQ closed
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venue perp mark · Gate.io (TMUS/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

2/2 live markets
Venues
2
Live markets
2/2
24h volume
$129.8K
Open interest
$359.2K
Best liquidity
$0
Extended
Tightest spread
+30.9 bps
Gate.io
Highest volume
$105.3K
Gate.io
Settlement mix
USDT · 1/2
Perp/spot vol.
0.00x
Spot volume $2.8B
OI / float
0.00%
Float $72.3B
Spot performance
1D-13.27%
5D-8.06%
1M-16.22%
6M-24.78%
YTD-26.82%
1Y-34.32%

Venue matrix

2 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
Gate.ioTradeTMUS/USDTTrading$148.620.0% APR
0.000% every 8h
+30.9 bps-$105.3K$330.7KUSDT20x
ExtendedTradeTMUS/USDTrading$148.72+4.4% APR
+0.00050% every 1h
+604.5 bps$0$24.4K$28.5KUSD10x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

No sufficient depth · 0 of 2 venues absorb $10k

No fresh book data: Gate.io, Extended

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

TMUS

Tightest spread

TMUS

Highest volume

TMUS

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 1h ago
Market cap
$159.4B
Updated 1h ago
Revenue
$92.2B
Trailing 12 months
Revenue growth
+7%
Next fiscal year
Profit margin
+11.5%
P/E
15.5
Peer P/E 21.0
Free cash flow
$15.8B
Trailing 12 months
More metrics
Net income
$10.6B
Trailing 12 months
P/S
1.7
Peer P/E
21.0
Similar listed perps
Revenue estimate
$94.4B
Next fiscal year
Earnings
2026-10-28
Revenue est. $23.1B · Updated 1h ago
Dividend
$1.17
2026-11-25

Fundamental detail

Annual + quarterly
Latest revenue$88.3B
Net margin+12.4%
Free cash flow$15.4B
Net debt$116.7B
2020$68.4B
2021$80.1B
2022$79.6B
2023$78.6B
2024$81.4B
2025$88.3B
PeriodRevenueGrowthNet incomeFCF
2020$68.4B+52%$3.1B-$3.7B
2021$80.1B+17%$3B-$7.8B
2022$79.6B-1%$2.6B-$520M
2023$78.6B-1%$8.3B$7.7B
2024$81.4B+4%$11.3B$10B
2025$88.3B+8%$11B$15.4B
PeriodGross marginOperating marginNet marginROEROA
2020+58.7%+9.7%+4.5%+4.7%+1.5%
2021+54.3%+8.6%+3.8%+4.4%+1.5%
2022+54.5%+8.2%+3.3%+3.7%+1.2%
2023+61.6%+18.2%+10.6%+12.9%+4.0%
2024+63.6%+22.1%+13.9%+18.4%+5.5%
2025+47.6%+21.2%+12.4%+18.6%+5.0%
PeriodCashDebtNet debtCurrent ratio
2020$10.4B$107.2B$96.9B1.10
2021$6.6B$108.8B$102.2B0.89
2022$4.5B$111.8B$107.3B0.77
2023$5.1B$113.8B$108.7B0.91
2024$5.4B$114.4B$109B0.91
2025$5.6B$122.3B$116.7B1.00
PeriodMarket capEnterprise valueP/SP/E
2020$154.3B$251.2B2.350.3
2021$144.6B$246.8B1.847.9
2022$175B$282.3B2.267.6
2023$190B$298.7B2.422.8
2024$258.1B$367.1B3.222.8
2025$229B$345.7B2.620.8
Q3 2024$20.2B
Q4 2024$21.9B
Q1 2025$20.9B
Q2 2025$21.1B
Q3 2025$22B
Q4 2025$24.3B
Q1 2026$23.1B
Q2 2026$22.8B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$20.2B+5%$3.1B$1.8B
Q4 2024$21.9B+7%$3B$2.5B
Q1 2025$20.9B+7%$3B$4.4B
Q2 2025$21.1B+7%$3.2B$4.6B
Q3 2025$22B+9%$2.7B$4.8B
Q4 2025$24.3B+11%$2.1B$1.6B
Q1 2026$23.1B+11%$2.5B$4.6B
Q2 2026$22.8B+8%$3.2B$4.8B
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+65.1%+23.8%+15.2%+4.8%+1.5%
Q4 2024+59.8%+21.0%+13.6%+4.8%+1.4%
Q1 2025+64.6%+23.0%+14.1%+4.8%+1.4%
Q2 2025+65.1%+24.7%+15.2%+5.3%+1.5%
Q3 2025+49.3%+22.1%+12.4%+4.5%+1.2%
Q4 2025+42.5%+15.9%+8.6%+3.6%+1.0%
Q1 2026+61.8%+19.5%+10.8%+4.5%+1.2%
Q2 2026+64.8%+24.1%+14.2%+5.8%+1.5%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$9.8B$116.2B$106.4B1.08
Q4 2024$5.4B$114.4B$109B0.91
Q1 2025$12B$120.9B$108.9B1.16
Q2 2025$10.3B$117.9B$107.6B1.21
Q3 2025$3.3B$120.4B$116.9B0.89
Q4 2025$5.6B$122.3B$116.7B1.00
Q1 2026$3.5B$117.7B$114.2B1.09
Q2 2026$2.8B$116B$113.2B0.92
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$240.8B$347.2B11.919.7
Q4 2024$258.1B$367.1B11.821.4
Q1 2025$304.2B$413.1B14.625.7
Q2 2025$269.9B$377.5B12.821.0
Q3 2025$269B$386.1B12.324.7
Q4 2025$226.4B$343.1B9.326.9
Q1 2026$231.1B$345.3B10.023.0
Q2 2026$181.4B$294.6B8.014.0

Refreshed 1h ago

Charts: revenue, profit, cash flow & valuation
Revenue$22.8BQ2 2026
$6.1B$12.2B$18.3B$24.3BQ3 2023: $19.3BQ4 2023: $20.5BQ1 2024: $19.6BQ2 2024: $19.8BQ3 2024: $20.2BQ4 2024: $21.9BQ1 2025: $20.9BQ2 2025: $21.1BQ3 2025: $22BQ4 2025: $24.3BQ1 2026: $23.1BQ2 2026: $22.8BQ3 2023Q2 2026
Net income$3.2BQ2 2026
$809.8M$1.6B$2.4B$3.2BQ3 2023: $2.1BQ4 2023: $2BQ1 2024: $2.4BQ2 2024: $2.9BQ3 2024: $3.1BQ4 2024: $3BQ1 2025: $3BQ2 2025: $3.2BQ3 2025: $2.7BQ4 2025: $2.1BQ1 2026: $2.5BQ2 2026: $3.2BQ3 2023Q2 2026
EBITDA$8.8BQ2 2026
$2.2B$4.4B$6.6B$8.8BQ3 2023: $6.8BQ4 2023: $6.8BQ1 2024: $7.4BQ2 2024: $7.9BQ3 2024: $8BQ4 2024: $7.8BQ1 2025: $8BQ2 2025: $8.3BQ3 2025: $7.8BQ4 2025: $7.3BQ1 2026: $7BQ2 2026: $8.8BQ3 2023Q2 2026
Free cash flow$4.8BQ2 2026
$1.2B$2.4B$3.6B$4.8BQ3 2023: $2.8BQ4 2023: $2.5BQ1 2024: $2.4BQ2 2024: $3.3BQ3 2024: $1.8BQ4 2024: $2.5BQ1 2025: $4.4BQ2 2025: $4.6BQ3 2025: $4.8BQ4 2025: $1.6BQ1 2026: $4.6BQ2 2026: $4.8BQ3 2023Q2 2026
EPS$2.99Q2 2026
$0.75$1.5$2.24$2.99Q3 2023: $1.82Q4 2023: $1.67Q1 2024: $2Q2 2024: $2.49Q3 2024: $2.61Q4 2024: $2.56Q1 2025: $2.58Q2 2025: $2.84Q3 2025: $2.41Q4 2025: $1.88Q1 2026: $2.27Q2 2026: $2.99Q3 2023Q2 2026
Cash / Debt$2.8BQ2 2026
$30.6B$61.1B$91.7B$122.3BQ3 2023 · Cash: $5BQ3 2023 · Debt: $113.9BQ4 2023 · Cash: $5.1BQ4 2023 · Debt: $113.1BQ1 2024 · Cash: $6.7BQ1 2024 · Debt: $115.7BQ2 2024 · Cash: $6.4BQ2 2024 · Debt: $114.2BQ3 2024 · Cash: $9.8BQ3 2024 · Debt: $116.2BQ4 2024 · Cash: $5.4BQ4 2024 · Debt: $114.4BQ1 2025 · Cash: $12BQ1 2025 · Debt: $120.9BQ2 2025 · Cash: $10.3BQ2 2025 · Debt: $117.9BQ3 2025 · Cash: $3.3BQ3 2025 · Debt: $120.4BQ4 2025 · Cash: $5.6BQ4 2025 · Debt: $122.3BQ1 2026 · Cash: $3.5BQ1 2026 · Debt: $117.7BQ2 2026 · Cash: $2.8BQ2 2026 · Debt: $116BQ3 2023Q2 2026
CashDebt
Profitability+64.8%Q2 2026
+16.5%+32.9%+49.4%+65.9%Q3 2023 · Gross margin: +62.9%Q4 2023 · Gross margin: +59.0%Q1 2024 · Gross margin: +63.8%Q2 2024 · Gross margin: +65.9%Q3 2024 · Gross margin: +65.1%Q4 2024 · Gross margin: +59.8%Q1 2025 · Gross margin: +64.6%Q2 2025 · Gross margin: +65.1%Q3 2025 · Gross margin: +49.3%Q4 2025 · Gross margin: +42.5%Q1 2026 · Gross margin: +61.8%Q2 2026 · Gross margin: +64.8%Q3 2023 · Operating margin: +18.7%Q4 2023 · Operating margin: +17.0%Q1 2024 · Operating margin: +20.4%Q2 2024 · Operating margin: +23.4%Q3 2024 · Operating margin: +23.8%Q4 2024 · Operating margin: +21.0%Q1 2025 · Operating margin: +23.0%Q2 2025 · Operating margin: +24.7%Q3 2025 · Operating margin: +22.1%Q4 2025 · Operating margin: +15.9%Q1 2026 · Operating margin: +19.5%Q2 2026 · Operating margin: +24.1%Q3 2023 · Net margin: +11.1%Q4 2023 · Net margin: +9.8%Q1 2024 · Net margin: +12.1%Q2 2024 · Net margin: +14.8%Q3 2024 · Net margin: +15.2%Q4 2024 · Net margin: +13.6%Q1 2025 · Net margin: +14.1%Q2 2025 · Net margin: +15.2%Q3 2025 · Net margin: +12.4%Q4 2025 · Net margin: +8.6%Q1 2026 · Net margin: +10.8%Q2 2026 · Net margin: +14.2%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+7.9%Q2 2026
+2.8%+5.6%+8.4%+11.3%Q3 2024: +4.7%Q4 2024: +6.8%Q1 2025: +6.6%Q2 2025: +6.9%Q3 2025: +8.9%Q4 2025: +11.3%Q1 2026: +10.6%Q2 2026: +7.9%Q3 2023Q2 2026
Shares outstanding1.1BQ2 2026
301.3M602.5M903.8M1.2BQ3 2023: 1.2BQ4 2023: 1.2BQ1 2024: 1.2BQ2 2024: 1.2BQ3 2024: 1.2BQ4 2024: 1.2BQ1 2025: 1.1BQ2 2025: 1.1BQ3 2025: 1.1BQ4 2025: 1.1BQ1 2026: 1.1BQ2 2026: 1.1BQ3 2023Q2 2026
Valuation14.0Q2 2026
6.713.420.126.9Q3 2023 · P/E: 19.1Q4 2023 · P/E: 23.0Q1 2024 · P/E: 20.3Q2 2024 · P/E: 17.9Q3 2024 · P/E: 19.7Q4 2024 · P/E: 21.4Q1 2025 · P/E: 25.7Q2 2025 · P/E: 21.0Q3 2025 · P/E: 24.7Q4 2025 · P/E: 26.9Q1 2026 · P/E: 23.0Q2 2026 · P/E: 14.0Q3 2023 · P/S: 8.5Q4 2023 · P/S: 9.1Q1 2024 · P/S: 9.8Q2 2024 · P/S: 10.6Q3 2024 · P/S: 11.9Q4 2024 · P/S: 11.8Q1 2025 · P/S: 14.6Q2 2025 · P/S: 12.8Q3 2025 · P/S: 12.3Q4 2025 · P/S: 9.3Q1 2026 · P/S: 10.0Q2 2026 · P/S: 8.0Q3 2023Q2 2026
P/EP/S
Revenue$88.3B2025
$22.1B$44.2B$66.2B$88.3B2018: $43.3B2019: $45B2020: $68.4B2021: $80.1B2022: $79.6B2023: $78.6B2024: $81.4B2025: $88.3B20182025
Net income$11B2025
$2.8B$5.7B$8.5B$11.3B2018: $2.9B2019: $3.5B2020: $3.1B2021: $3B2022: $2.6B2023: $8.3B2024: $11.3B2025: $11B20182025
EBITDA$31.3B2025
$7.8B$15.7B$23.5B$31.3B2018: $11.8B2019: $12.4B2020: $20.4B2021: $23.1B2022: $20.2B2023: $27.2B2024: $31B2025: $31.3B20182025
Free cash flow$15.4B2025
-$2B$3.8B$9.6B$15.4B2018: -$1.8B2019: -$534M2020: -$3.7B2021: -$7.8B2022: -$520M2023: $7.7B2024: $10B2025: $15.4B20182025
EPS$9.722025
$2.43$4.86$7.29$9.722018: $3.362019: $4.022020: $2.652021: $2.412022: $2.062023: $6.932024: $9.662025: $9.7220182025
Cash / Debt$5.6B2025
$30.6B$61.1B$91.7B$122.3B2018 · Cash: $1.2B2018 · Debt: $15.5B2019 · Cash: $1.5B2019 · Debt: $42.3B2020 · Cash: $10.4B2020 · Debt: $107.2B2021 · Cash: $6.6B2021 · Debt: $108.8B2022 · Cash: $4.5B2022 · Debt: $111.8B2023 · Cash: $5.1B2023 · Debt: $113.8B2024 · Cash: $5.4B2024 · Debt: $114.4B2025 · Cash: $5.6B2025 · Debt: $122.3B20182025
CashDebt
Profitability+47.6%2025
+15.9%+31.8%+47.7%+63.6%2018 · Gross margin: +57.6%2019 · Gross margin: +58.8%2020 · Gross margin: +58.7%2021 · Gross margin: +54.3%2022 · Gross margin: +54.5%2023 · Gross margin: +61.6%2024 · Gross margin: +63.6%2025 · Gross margin: +47.6%2018 · Operating margin: +12.3%2019 · Operating margin: +12.7%2020 · Operating margin: +9.7%2021 · Operating margin: +8.6%2022 · Operating margin: +8.2%2023 · Operating margin: +18.2%2024 · Operating margin: +22.1%2025 · Operating margin: +21.2%2018 · Net margin: +6.7%2019 · Net margin: +7.7%2020 · Net margin: +4.5%2021 · Net margin: +3.8%2022 · Net margin: +3.3%2023 · Net margin: +10.6%2024 · Net margin: +13.9%2025 · Net margin: +12.4%20182025
Gross marginOperating marginNet margin
Revenue growth+8.5%2025
+12.0%+25.4%+38.7%+52.0%2019: +3.9%2020: +52.0%2021: +17.1%2022: -0.7%2023: -1.3%2024: +3.6%2025: +8.5%20182025
Shares outstanding1.1B2025
313.8M627.7M941.5M1.3B2018: 858.3M2019: 863.4M2020: 1.2B2021: 1.3B2022: 1.3B2023: 1.2B2024: 1.2B2025: 1.1B20182025
Valuation20.82025
16.933.850.767.62018 · P/E: 18.72019 · P/E: 19.32020 · P/E: 50.32021 · P/E: 47.92022 · P/E: 67.62023 · P/E: 22.82024 · P/E: 22.82025 · P/E: 20.82018 · P/S: 1.22019 · P/S: 1.52020 · P/S: 2.32021 · P/S: 1.82022 · P/S: 2.22023 · P/S: 2.42024 · P/S: 3.22025 · P/S: 2.620182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-10-28
Revenue est. $23.1B · Updated 1h ago
Dividend
$1.17
2026-11-25

No unusual perp activity right now.

FMP reference data

Market context

Reference market

Closed
NASDAQ
Regular hours
CLOSED – CLOSED
Next holiday
Nov 26, 2026 · Thanksgiving Day

After-hours reference

Bid148.7
Ask148.9
Volume19,028,258

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 202610.92$94.4B+7%17
FY 202713.96$98.5B+12%17
FY 202816.77$102.6B+16%12
FY 202917.98$106.2B+20%9
FY 203020.86$109.6B+24%5
Q1 20273.32$24.2B+5%4

Company events

6
2026-11-25Dividend$1.17-
2026-10-28EarningsActual - / Estimate 2.89-
2026-08-28Dividend$1.02-
2026-07-23EarningsActual 2.99 / Estimate 2.59Beat
2026-05-29Dividend$1.02-
2026-04-28EarningsActual 2.27 / Estimate 2.01Beat

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering TMUS have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings139423
Analysts3246
Buy / hold / sell101 / 37 / 1326 / 93 / 4
Upgrades / downgrades / initiations11 / 2 / 215 / 11 / 6
Price targets hit / missed2 / 125 (2%)9 / 377 (2%)
Avg. return after a rating (TipRanks)-31.6%-26.0%
Best / worst call+1.4% / -44.7%+3.8% / -44.7%

After buy calls on this stock: median 21-day move +1.8% vs S&P 500 -0.8% (n = 328)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Eric LuebchowWells Fargo100% hit rate on this stock · 14 targets measuredBuytarget $235Apr 29, 2026
  2. Jonathan AtkinRBC Capital100% hit rate on this stock · 10 targets measuredBuytarget $230Jul 23, 2026
  3. Michael RollinsCiti100% hit rate on this stock · 9 targets measuredHoldtarget $225Mar 17, 2026

Latest ratings

DateAnalystCallTarget
Oct 9, 2026Maher YaghiScotiabankBuyMaintained$212
Oct 8, 2026Laurent YoonBernsteinHoldMaintained$220
Oct 7, 2026Brandon NispelKeyBancBuyMaintained–
Oct 7, 2026Brandon NispelKeyBancBuyMaintained–
Oct 2, 2026Maher YaghiScotiabankBuyMaintained$217
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$160$180$200$220$240$260$280Nov 25 · Buy 15 · Hold 6 · Sell 1Nov 25Dec 25 · Buy 17 · Hold 8 · Sell 0Jan 26 · Buy 17 · Hold 7 · Sell 0Jan 26Feb 26 · Buy 18 · Hold 7 · Sell 0Mar 26 · Buy 17 · Hold 6 · Sell 0Mar 26Apr 26 · Buy 24 · Hold 4 · Sell 0May 26 · Buy 23 · Hold 4 · Sell 0May 26Jun 26 · Buy 21 · Hold 3 · Sell 0Jul 26 · Buy 23 · Hold 3 · Sell 0Jul 26Aug 26 · Buy 21 · Hold 5 · Sell 0Sep 26 · Buy 21 · Hold 4 · Sell 0Sep 26Oct 26 · Buy 21 · Hold 4 · Sell 0Nov 25 · avg. target $277Dec 25 · avg. target $267Jan 26 · avg. target $266Feb 26 · avg. target $265Mar 26 · avg. target $264Apr 26 · avg. target $255May 26 · avg. target $253Jun 26 · avg. target $253Jul 26 · avg. target $240Aug 26 · avg. target $238Sep 26 · avg. target $237Oct 26 · avg. target $237Nov 25 · month-end close $209Dec 25 · month-end close $203Jan 26 · month-end close $197Feb 26 · month-end close $217Mar 26 · month-end close $210Apr 26 · month-end close $196May 26 · month-end close $188Jun 26 · month-end close $168Jul 26 · month-end close $173Aug 26 · month-end close $180Sep 26 · month-end close $163Oct 26 · month-end close $164

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Oct 9, 2026 · 139 ratings

Frequently asked questions

Where can I trade TMUS perpetual futures?

T-Mobile US, Inc. (TMUS) perpetual futures trade on 2 crypto venues, including Gate.io, Extended. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade TMUS around the clock?

Yes. Unlike the underlying stock, TMUS perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on TMUS perpetuals?

Right now the TMUS perp funding rate is +2.2% annualized (venue median), ranging from 0.0% to +4.4% across 2 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the TMUS perp price compare to the T-Mobile US, Inc. stock?

The venue-median TMUS perp mark is $148.7 versus a reference stock price of $148.6, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a TMUS perpetual future?

A TMUS perpetual is a derivative that tracks the price of T-Mobile US, Inc. with no expiry date. It lets you take long or short exposure to T-Mobile US, Inc. on crypto venues, around the clock.

What is TMUSUSDT perpetual?

TMUSUSDT is the symbol most crypto exchanges use for the T-Mobile US, Inc. perpetual settled in USDT (Tether). It tracks the TMUS share price through an index, trades 24/7 with leverage and never expires.

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