Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.16B | $5.04B | $5.02B | $5.08B | $5.12B | $5.22B | $5.29B | $1.23B | $1.18B | $1.07B |
| Revenue growth | — | -2.2% | -0.5% | 1.1% | 0.9% | 2.0% | 1.4% | -76.8% | -4.2% | -9.0% |
| Operating income | $108M | -$108M | $205M | $179M | $259M | $261M | $122M | -$683M | -$191M | -$97.4M |
| Operating margin | 2.1% | -2.1% | 4.1% | 3.5% | 5.1% | 5.0% | 2.3% | -55.6% | -16.3% | -9.1% |
| Net income | $43.0M | $153M | $135M | $121M | $226M | $156M | $62.0M | -$500M | -$27.7M | -$6.24M |
| Net margin | 0.8% | 3.0% | 2.7% | 2.4% | 4.4% | 3.0% | 1.2% | -40.7% | -2.4% | -0.6% |
| EPS (diluted) | $0.39 | $1.37 | $1.17 | $1.03 | $1.93 | $1.00 | -$0.07 | -$5.05 | -$0.85 | -$0.65 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $782M | $776M | $1.02B | $1.02B | $1.53B | $1.10B | $1.16B | $1.14B | $1.15B | $590M |
| Capital expenditures | $636M | $685M | $776M | $957M | $1.34B | $1.13B | $1.16B | $643M | $365M | $391M |
| Free cash flow | $146M | $91.0M | $241M | $59.0M | $194M | -$28.0M | -$6.00M | $498M | $780M | $199M |
| Share buybacks | $3.00M | $0.00 | $0.00 | $0.00 | $14.0M | $8.00M | $40.0M | $5.81M | $0.00 | $108M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $900M | $619M | $921M | $465M | $1.43B | $367M | $360M | $236M | $364M | $766M |
| Total assets | $9.45B | $9.29B | $9.78B | $10.8B | $12.5B | $13.5B | $14.6B | $8.14B | $13.7B | $8.40B |
| Shareholders' equity | $4.14B | $4.27B | $4.56B | $4.65B | $4.80B | $5.93B | $5.85B | $5.20B | $5.09B | $4.80B |
| Retained earnings | $2.45B | $2.52B | $2.66B | $2.67B | $2.80B | $2.81B | $2.70B | $2.02B | $1.85B | $1.69B |
| Shares (wtd avg diluted) | 111M | 112M | 114M | 116M | 115M | 116M | 114M | 113M | 114M | 119M |
Every figure is extracted from TELEPHONE & DATA SYSTEMS INC /DE/’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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