← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
TELEPHONE & DATA SYSTEMS INC /DE/: Revenue declined 9% to $1.071B from $1.177B. Net loss narrowed to $6.236M from $27.7M. Free cash flow declined 74.5% to $199M from $780M. Operating margin expanded 716 bps to -9.09%. TELEPHONE & DATA SYSTEMS INC /DE/'s annual comparison also shows margins improved while free cash flow declined; stock compensation grew faster than revenue; capital spending grew faster than revenue; inventory grew faster than revenue.
The read at a glance✓ Audited against SEC data
- Growth — Revenue declined 9% to $1.071B from $1.177BWatch
- Profitability — Net loss narrowed to $6.236M from $27.7MOK
- Cash flow — Free cash flow declined 74.5% to $199M from $780MWatch
- Margins — Operating margin expanded 716 bps to -9.09%OK
- Accounting — No overriding statistical warningNote
- Insiders — 0 purchases and 15 salesWatch
Business
Telephone and Data Systems, Inc. (TDS) provides high-quality communications services to customers through its wholly-owned subsidiary TDS Telecommunications LLC (TDS Telecom) with 1.1 million broadband, video, voice and wireless connections at December 31, 2025.
Where the revenue comes from
Fiscal 2025, as TELEPHONE & DATA SYSTEMS INC /DE/ reports it. History and quarterly detail are in the app.
- Service$1.0B
- Residential Revenue$730.0M
- Wholesale Revenue$167.5M
- Site Rental$154.7M
- Commercial Revenue$137.3M
Leadership changes
From TELEPHONE & DATA SYSTEMS INC /DE/'s own filings, the day they're filed.
- James W. Butman · Chief Executive Officer · departureeff. 2025-06-09
- James W. Butman · Chief Executive Officer · departureeff. 2025-06-09
- LeRoy T. Carlson Jr · appointmenteff. 2025-02-01
Latest filings
- 8-K · Company announcement2026-09-02
- 8-K · Company announcement2026-08-07
- 10-Q · Quarterly report2026-08-07
- 8-K · Company announcement2026-06-01
- 8-K · Company announcement2026-05-26
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about TELEPHONE & DATA SYSTEMS INC /DE/, every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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