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US telecom holding company; TDS Telecom runs rural/suburban fiber broadband, plus a stake in tower operator Array Digital.
US telecom holding company; TDS Telecom runs rural/suburban fiber broadband, plus a stake in tower operator Array Digital.
Earns subscriptions from households and businesses on its fiber and copper broadband network, TDS Telecom. The majority-owned Array Digital Infrastructure earns long-term rent from carriers on tower sites; it was the US Cellular wireless operator until that carrier business was sold to T-Mobile in 2025.
Moat: narrow (installed base, regulatory licence). Owns fiber/copper plant and tower real estate in its footprint, but faces cable and fixed-wireless competition.
Headquarters: Chicago, Illinois · Founded: 1969 · Employees: 4,000
Size Telephone and Data Systems (TDS) is a United States Communication Services company (Wireless Telecommunications) with a market value of $3.54B, the 1427th largest of 3,117 United States companies the cockpit tracks. Shares closed at $32.87 on 6 Nov 2026.
Performance Over six months the shares fell 29.3%, against -3.0% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue fell 73.8% over the last twelve months (peer median +6.5%); the operating margin is -2.7% (peer median 13.1%).
Valuation It trades at 92.2× forward earnings against a peer median of 19.4× (most expensive of 16).
Capital Return on invested capital runs 6.8 points below its cost of capital (6.4% WACC).
Backlog Backlog (remaining performance obligations) was $74.5M at 31 Dec 2025, down 86% on a year earlier — 0.1 years of trailing revenue. Backlog detail →
Short interest Short interest is 5.9% of the free float (15 Oct 2026).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.26B | $1.23B | $1.30B | $5.16B | $5.41B |
| Revenue growth | — | -5% | -75% | -5% | — |
| Gross profit | $390M | $373M | $381M | $1.91B | $1.92B |
| EBITDA | $322M | $290M | $220M | $1.07B | $1.08B |
| Net income | $387M | -$6.24M | -$27.7M | -$500M | $62.0M |
| Free cash flow | -$315M | $199M | $780M | -$69.0M | -$6.00M |
| Capital expenditure | $423M | $395M | $385M | $1.34B | $1.77B |
| Total debt | $1.25B | $1.40B | $3.02B | $5.14B | $4.80B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Telephone and Data Systems TDS | $3.54B | -29% | -74% | -3% | 92.2× | n/a |
| Lumen Technologies LUMN | $4.12B | -59% | -8% | -3% | n/a | 5.1% |
| Comcast CMCSA | $86.6B | -3% | 0% | 15% | 7.2× | -6.4% |
| Shenandoah Telecommunications SHEN | $534M | -40% | +6% | -3% | n/a | n/a |
| AT&T T | $146B | -14% | +4% | 22% | 8.5× | -4.8% |
| Verizon VZ | $189B | -3% | +1% | 24% | 8.8× | -7.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TDS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.7% | -1.9% | 9th lowest of 21 |
| 6-month return | -29.3% | -3.0% | 6th lowest of 20 |
| Distance from 52-week high | -33.1% | -28.8% | 9th lowest of 21 |
| Revenue growth (TTM) | -73.8% | +6.5% | 2nd lowest of 21 |
| Operating margin | -2.7% | 13.1% | 3rd lowest of 21 |
| Forward P/E | 92.2× | 19.4× | most expensive of 16 |
| ROIC minus cost of capital | -6.8 pp | +1.6 pp | 5th lowest of 21 |
| EV / EBITDA | 12.1× | 7.4× | 3rd most expensive of 17 |
| Net debt / EBITDA | -2.9× | 1.6× | least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Telephone and Data Systems TDS | United States | $3.54B | -29% | -74% | -3% | 92.2× | n/a | n/a |
| Guangzhou Haige Communications 002465.SZ | China | $3.43B | -38% | +1% | -16% | n/a | n/a | n/a |
| Sunrise Communications SUNN.SW | Switzerland | $3.92B | +2% | -1% | 3% | n/a | 21.2% | n/a |
| Turkcell Iletisim Hizmetleri A.S. Sponsored ADR TKC | United States | $4.02B | -31% | +16% | 15% | 8.0× | -12.0% | +8.1% |
| Array Digital Infrastructure AD | United States | $2.59B | -46% | -94% | 1% | 27.6× | n/a | n/a |
| VEON Ltd. Sponsored ADR VEON | United States | $4.95B | +57% | +15% | 23% | 11.2× | -4.8% | -9.1% |
| Orange Polska OPL.WA | Poland | $5.53B | +7% | +5% | 9% | 19.4× | 13.2% | +2.7% |
| TPG Telecom TPG.AX | Australia | $5.58B | +1% | -5% | 8% | 34.8× | 8.1% | +3.0% |
| Digi Spain Telecom, S.A. Unipersonal DIGIS.MC | Spain | $2.16B | n/a | +19% | 6% | n/a | n/a | n/a |
| Elisa ELISA.HE | Finland | $6.11B | -17% | 0% | 20% | 14.3× | -2.7% | +3.6% |
| Okinawa Cellular Telephone 9436.T | Japan | $1.90B | -3% | +5% | 24% | 21.2× | -3.7% | +3.1% |
| Anterix ATEX | United States | $1.46B | +33% | +19% | -579% | n/a | 45.3% | +47.8% |
| TIM S.A. Sponsored ADR TIMB | United States | $8.61B | -24% | +14% | 25% | 9.4× | -12.4% | +7.3% |
| Bharti Hexacom BHARTIHEXA.NS | India | $8.84B | +10% | +8% | 29% | 36.6× | 33.4% | +15.2% |
| PT Telkom Indonesia (Persero) Tbk Sponsored ADR TLK | United States | $10.3B | -35% | -3% | 24% | 9.5× | -16.1% | -1.1% |
| Globalstar GSAT | United States | $10.9B | +3% | +8% | 5% | n/a | n/a | n/a |
| SKTelecom 017670.KS | South Korea | $12.1B | -18% | +2% | 10% | 12.3× | -9.8% | +1.2% |
| Far Eastone Telecommunications 4904.TW | Taiwan | $12.2B | +17% | +10% | 15% | 26.1× | 3.8% | +6.8% |
| Airtel Africa AAF.L | United Kingdom | $13.5B | -33% | +27% | 34% | 14.6× | -1.2% | +10.0% |
| Telecom Italia TIT.MI | Italy | $13.6B | -20% | 0% | 11% | 31.8× | 5.3% | -2.8% |
| Millicom International Cellular TIGO | United States | $13.9B | +3% | +29% | 23% | 22.9× | 3.6% | +6.9% |
Telephone and Data Systems reported $74.5M of remaining performance obligations at 31 Dec 2025, down 86% from a year earlier. That is 0.1 years of trailing revenue already under contract.