# Telephone and Data Systems, Inc. (TDS)

**Exchange:** NYSE  
**Sector:** Communication Services  
**Market cap:** $4.73B  
**Price:** $39.92 (+1.50%)

> Telephone and Data Systems, Inc. is a diversified telecommunications company providing essential communications services across the United States to consumers, businesses, and government entities. It operates primarily through three key segments: UScellular Wireless, which delivers wireless telecommunications services including connected Internet of Things (IoT) solutions, software applications for business automation, fleet management, security, and private cellular networks; UScellular Towers, which leases tower space to other wireless carriers; and TDS Telecom, offering broadband, video, voice, and fiber-based services through coaxial, copper, and advanced networks. Headquartered in Chicago, Illinois, and founded in 1968, the company supports retail wireless connections and infrastructure vital to modern connectivity. With approximately 7,900 employees, Telephone and Data Systems, Inc. plays a significant role in the telecommunications sector by bridging traditional telephony with emerging wireless and broadband technologies, contributing to national communication infrastructure while navigating operational challenges through strategic asset management and segment diversification.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $1.07B | — | -$97M | -$6M | $-0.65 |
| 2024 | $1.18B | — | -$191M | -$28M | $-0.85 |
| 2023 | $1.23B | — | -$683M | -$500M | $-5.05 |
| 2022 | $5.29B | — | $122M | $62M | $-0.07 |
| 2021 | $5.22B | — | $261M | $156M | $1.00 |
| 2020 | $5.12B | — | $259M | $226M | $1.93 |
| 2019 | $5.08B | — | $179M | $121M | $1.03 |
| 2018 | $5.02B | — | $205M | $135M | $1.17 |
| 2017 | $5.04B | $3.85B | -$108M | $153M | $1.37 |
| 2016 | $5.16B | $3.92B | $108M | $43M | $0.39 |
| 2015 | $5.21B | $3.99B | $431M | $219M | $1.98 |
| 2014 | $5.01B | $3.66B | -$190M | -$136M | $-1.26 |
| 2013 | $4.90B | $2.68B | $235M | $142M | $1.29 |
| 2012 | $5.35B | $3.07B | $184M | $82M | $0.75 |
| 2011 | $5.18B | $3.14B | $363M | $201M | $1.83 |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $8.40B | $3.60B | $4.80B | $766M | — |
| 2024 | $13.68B | $8.59B | $5.09B | $364M | — |
| 2023 | $8.14B | $2.93B | $5.20B | $236M | — |
| 2022 | $14.55B | $8.70B | $5.85B | $360M | — |
| 2021 | $13.49B | $7.57B | $5.93B | $367M | — |
| 2020 | $12.53B | $7.72B | $4.80B | $1.43B | — |
| 2019 | $10.78B | $6.13B | $4.65B | $465M | — |
| 2018 | $9.78B | $5.22B | $4.56B | $921M | — |
| 2017 | $9.29B | $5.03B | $4.27B | $619M | — |
| 2016 | $9.45B | $5.30B | $4.14B | $900M | — |
| 2015 | $9.42B | $5.30B | $4.13B | $985M | — |
| 2014 | $8.85B | $4.93B | $3.93B | $472M | — |
| 2013 | $8.86B | $4.74B | $4.12B | $830M | — |
| 2012 | $8.62B | $4.61B | $4.01B | $740M | — |
| 2011 | $8.20B | $4.24B | $3.96B | $563M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $590M | $391M | $199M |
| 2024 | $1.15B | $365M | $780M |
| 2023 | $1.14B | $643M | $498M |
| 2022 | $1.16B | $1.16B | -$6M |
| 2021 | $1.10B | $1.13B | -$28M |
| 2020 | $1.53B | $1.34B | $194M |
| 2019 | $1.02B | — | — |
| 2018 | $1.02B | — | — |
| 2017 | $776M | — | — |
| 2016 | $782M | — | — |
| 2015 | $790M | — | — |
| 2012 | $1.11B | — | — |
| 2011 | $1.26B | — | — |
| 2010 | $1.08B | — | — |
| 2009 | $1.10B | — | — |

Source: [CompaniesByCap](https://companiesbycap.com/company/TDS)