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Verizon Communications vs T-Mobile US: VZ and TMUS compared
Verizon Communications is the larger company: $34.3B of revenue in its latest quarter (Q3 2026) against $23.6B for T-Mobile US (Q3 2026). T-Mobile US is growing faster (+7% against +2% a year earlier). Verizon Communications is more profitable, with an operating margin of 25.2% against 24.0%.
Where the money goes: VZ and TMUS
Verizon Communications (VZ) · Q3 2026
Verizon Communications, Q3 2026: revenue $34.3B (+2% year over year), operating margin 25.2%, net earnings $5.2B, operating cash flow $11.5B. The chart follows the revenue to costs, profit and cash.
T-Mobile US (TMUS) · Q3 2026
T-Mobile US, Q3 2026: revenue $23.6B (+7% year over year), operating margin 24.0%, net earnings $3.5B, operating cash flow $7.3B. The chart follows the revenue to costs, profit and cash.
| Verizon Communications (VZ) | T-Mobile US (TMUS) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $34.3B | $23.6B |
| Revenue growth, Y/Y | +2% | +7% |
| Operating margin | 25.2% | 24.0% |
| Net earnings | $5.2B | $3.5B |
| Net margin | 15.1% | 14.6% |
| Operating cash flow | $11.5B | $7.3B |
| Free cash flow | $7.8B | $5.1B |
| Market value | $190.1B | $173.6B |
| P/E | 11.6× | 15.6× |
| Analysts’ mean target | $50.65 | $225.64 |
Where the revenue comes from
Verizon Communications
- Service revenues and other: $29.2B (85%)
- Wireless equipment: $5.1B (15%)
T-Mobile US
- Service: $19.4B (82%)
- Equipment revenues: $3.9B (17%)
- Other revenues: $280M (1%)
Questions
Which is bigger, Verizon Communications or T-Mobile US?
Verizon Communications is the larger company: $34.3B of revenue in its latest quarter (Q3 2026) against $23.6B for T-Mobile US (Q3 2026).
Is Verizon Communications or T-Mobile US growing faster?
T-Mobile US is growing faster (+7% against +2% a year earlier).
Which is more profitable, Verizon Communications or T-Mobile US?
Verizon Communications is more profitable, with an operating margin of 25.2% against 24.0%.
More: Verizon Communications earnings · how Verizon Communications makes money · T-Mobile US earnings · how T-Mobile US makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.