AI-assembled from public SEC filings

U.S. telecom carriers peer review

Descriptive comparison assembled from public SEC filings and verified companyfacts.

Descriptive comparison — not investment advice. This feature-specific review is assembled from a frozen evidence pack of public SEC filing quotes and verified SEC companyfacts numbers. It is descriptive only and makes no judgment about which company is better. It is not a rating, recommendation, endorsement, forecast, or investment advice. Figures are as of their cited filing dates. See Disclaimer.

Methodology

Mechanical telecom cluster: the three large U.S. wireless/wireline carriers in the existing grepcent universe, centered on SEC SIC 4813 Telephone Communications and retaining TMUS as a disclosed requested wireless carrier peer with cached SEC SIC 4812.

The cluster is intentionally small: T and VZ are selected from public SEC SIC 4813 Telephone Communications companies already present in grepcent's processed universe, and TMUS is retained as a disclosed requested wireless carrier peer with cached SEC SIC 4812 rather than being relabeled. The review publishes no proprietary index-membership labels.

Pack hash: 03845b6b645e97fb58bcff3e0ecc75fd70505091d237c9a1398477787a3b04a5. Generated: 2026-06-27.

Verified Quantitative Matrix

Numbers are templated from frozen SEC companyfacts-derived facts already verified by grepcent. Fiscal periods and filing dates are shown in each cell; comparability markers use day-level period ends and reported XBRL source concepts.

Metric	T	VZ	TMUS
Revenue Mixed reporting concepts: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues. Ticker concepts: T -> us-gaap:Revenues; TMUS -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; VZ -> us-gaap:Revenues.	125,648,000,000 FY 2025; period end 2025-12-31; filed 2026-02-09; reporting currency USD source · NUM_T_REVENUE_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	138,191,000,000 FY 2025; period end 2025-12-31; filed 2026-02-17; reporting currency USD source · NUM_VZ_REVENUE_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	88,309,000,000 FY 2025; period end 2025-12-31; filed 2026-02-11; reporting currency USD source · NUM_TMUS_REVENUE_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.
Operating margin Mixed reporting concepts: us-gaap:OperatingIncomeLoss, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues. Ticker concepts: T -> us-gaap:OperatingIncomeLoss + us-gaap:Revenues; TMUS -> us-gaap:OperatingIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; VZ -> us-gaap:OperatingIncomeLoss + us-gaap:Revenues.	19.23% FY 2025; period end 2025-12-31; filed 2026-02-09 source · NUM_T_OPERATING_MARGIN_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	21.17% FY 2025; period end 2025-12-31; filed 2026-02-17 source · NUM_VZ_OPERATING_MARGIN_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	20.70% FY 2025; period end 2025-12-31; filed 2026-02-11 source · NUM_TMUS_OPERATING_MARGIN_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.
Net margin Mixed reporting concepts: us-gaap:NetIncomeLoss, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues. Ticker concepts: T -> us-gaap:NetIncomeLoss + us-gaap:Revenues; TMUS -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; VZ -> us-gaap:NetIncomeLoss + us-gaap:Revenues.	17.47% FY 2025; period end 2025-12-31; filed 2026-02-09 source · NUM_T_NET_MARGIN_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	12.43% FY 2025; period end 2025-12-31; filed 2026-02-17 source · NUM_VZ_NET_MARGIN_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	12.45% FY 2025; period end 2025-12-31; filed 2026-02-11 source · NUM_TMUS_NET_MARGIN_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.
Capital expenditures Mixed reporting concepts: us-gaap:PaymentsToAcquireOtherProductiveAssets, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Ticker concepts: T -> us-gaap:PaymentsToAcquireProductiveAssets; TMUS -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; VZ -> us-gaap:PaymentsToAcquireOtherProductiveAssets.	20,842,000,000 FY 2025; period end 2025-12-31; filed 2026-02-09; reporting currency USD source · NUM_T_CAPEX_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	17,011,000,000 FY 2025; period end 2025-12-31; filed 2026-02-17; reporting currency USD source · NUM_VZ_CAPEX_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	9,955,000,000 FY 2025; period end 2025-12-31; filed 2026-02-11; reporting currency USD source · NUM_TMUS_CAPEX_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.
Capex / revenue Mixed reporting concepts: us-gaap:PaymentsToAcquireOtherProductiveAssets, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues. Ticker concepts: T -> us-gaap:PaymentsToAcquireProductiveAssets + us-gaap:Revenues; TMUS -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; VZ -> us-gaap:PaymentsToAcquireOtherProductiveAssets + us-gaap:Revenues.	16.59% FY 2025; period end 2025-12-31; filed 2026-02-09 source · NUM_T_CAPEX_INTENSITY_FY2025 grepcent-computed in code: capital expenditures / revenue from NUM_T_CAPEX_FY2025, NUM_T_REVENUE_FY2025. Computed from filing inputs; may differ from the company's own reported/adjusted ratio. Day-level period offset: 0d vs row reference 2025-12-31; aligned.	12.31% FY 2025; period end 2025-12-31; filed 2026-02-17 source · NUM_VZ_CAPEX_INTENSITY_FY2025 grepcent-computed in code: capital expenditures / revenue from NUM_VZ_CAPEX_FY2025, NUM_VZ_REVENUE_FY2025. Computed from filing inputs; may differ from the company's own reported/adjusted ratio. Day-level period offset: 0d vs row reference 2025-12-31; aligned.	11.27% FY 2025; period end 2025-12-31; filed 2026-02-11 source · NUM_TMUS_CAPEX_INTENSITY_FY2025 grepcent-computed in code: capital expenditures / revenue from NUM_TMUS_CAPEX_FY2025, NUM_TMUS_REVENUE_FY2025. Computed from filing inputs; may differ from the company's own reported/adjusted ratio. Day-level period offset: 0d vs row reference 2025-12-31; aligned.
Free cash flow Mixed reporting concepts: us-gaap:NetCashProvidedByUsedInOperatingActivities, us-gaap:PaymentsToAcquireOtherProductiveAssets, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Ticker concepts: T -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireProductiveAssets; TMUS -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; VZ -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireOtherProductiveAssets.	19,442,000,000 FY 2025; period end 2025-12-31; filed 2026-02-09; reporting currency USD source · NUM_T_FREE_CASH_FLOW_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	20,126,000,000 FY 2025; period end 2025-12-31; filed 2026-02-17; reporting currency USD source · NUM_VZ_FREE_CASH_FLOW_FY2025 grepcent-computed in code: operating cash flow - capital expenditures from NUM_VZ_OPERATING_CASH_FLOW_FY2025, NUM_VZ_CAPEX_FY2025. Day-level period offset: 0d vs row reference 2025-12-31; aligned.	17,995,000,000 FY 2025; period end 2025-12-31; filed 2026-02-11; reporting currency USD source · NUM_TMUS_FREE_CASH_FLOW_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.
Total debt	134,718,000,000 FY 2025; period end 2025-12-31; filed 2026-02-09; reporting currency USD source · NUM_T_TOTAL_DEBT_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	Not available.	86,282,000,000 FY 2025; period end 2025-12-31; filed 2026-02-11; reporting currency USD source · NUM_TMUS_TOTAL_DEBT_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.
Liabilities / equity leverage Mixed reporting concepts: us-gaap:Assets, us-gaap:StockholdersEquity, us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest. Ticker concepts: T -> us-gaap:Assets + us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest; TMUS -> us-gaap:Assets + us-gaap:StockholdersEquity; VZ -> us-gaap:Assets + us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest.	2.32 FY 2025; period end 2025-12-31; filed 2026-02-09 source · NUM_T_LIABILITIES_TO_EQUITY_FY2025 grepcent-computed in code: (assets - equity) / equity from NUM_T_ASSETS_FY2025, NUM_T_EQUITY_FY2025. Day-level period offset: 0d vs row reference 2025-12-31; aligned.	2.82 FY 2025; period end 2025-12-31; filed 2026-02-17 source · NUM_VZ_LIABILITIES_TO_EQUITY_FY2025 grepcent-computed in code: (assets - equity) / equity from NUM_VZ_ASSETS_FY2025, NUM_VZ_EQUITY_FY2025. Day-level period offset: 0d vs row reference 2025-12-31; aligned.	2.70 FY 2025; period end 2025-12-31; filed 2026-02-11 source · NUM_TMUS_LIABILITIES_TO_EQUITY_FY2025 grepcent-computed in code: (assets - equity) / equity from NUM_TMUS_ASSETS_FY2025, NUM_TMUS_EQUITY_FY2025. Day-level period offset: 0d vs row reference 2025-12-31; aligned.
Dividends paid Mixed reporting concepts: us-gaap:PaymentsOfDividends, us-gaap:PaymentsOfDividendsCommonStock. Ticker concepts: T -> us-gaap:PaymentsOfDividendsCommonStock; TMUS -> us-gaap:PaymentsOfDividendsCommonStock; VZ -> us-gaap:PaymentsOfDividends.	8,180,000,000 FY 2025; period end 2025-12-31; filed 2026-02-09; reporting currency USD source · NUM_T_DIVIDENDS_PAID_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	11,481,000,000 FY 2025; period end 2025-12-31; filed 2026-02-17; reporting currency USD source · NUM_VZ_DIVIDENDS_PAID_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	4,121,000,000 FY 2025; period end 2025-12-31; filed 2026-02-11; reporting currency USD source · NUM_TMUS_DIVIDENDS_PAID_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.
Dividends / net income Mixed reporting concepts: us-gaap:NetIncomeLoss, us-gaap:PaymentsOfDividends, us-gaap:PaymentsOfDividendsCommonStock. Ticker concepts: T -> us-gaap:NetIncomeLoss + us-gaap:PaymentsOfDividendsCommonStock; TMUS -> us-gaap:NetIncomeLoss + us-gaap:PaymentsOfDividendsCommonStock; VZ -> us-gaap:NetIncomeLoss + us-gaap:PaymentsOfDividends.	37.26% FY 2025; period end 2025-12-31; filed 2026-02-09 source · NUM_T_PAYOUT_RATIO_FY2025 grepcent-computed in code: dividends paid / net income from NUM_T_DIVIDENDS_PAID_FY2025, NUM_T_NET_INCOME_FY2025. Computed from filing inputs; may differ from the company's own reported/adjusted ratio. Day-level period offset: 0d vs row reference 2025-12-31; aligned.	66.85% FY 2025; period end 2025-12-31; filed 2026-02-17 source · NUM_VZ_PAYOUT_RATIO_FY2025 grepcent-computed in code: dividends paid / net income from NUM_VZ_DIVIDENDS_PAID_FY2025, NUM_VZ_NET_INCOME_FY2025. Computed from filing inputs; may differ from the company's own reported/adjusted ratio. Day-level period offset: 0d vs row reference 2025-12-31; aligned.	37.49% FY 2025; period end 2025-12-31; filed 2026-02-11 source · NUM_TMUS_PAYOUT_RATIO_FY2025 grepcent-computed in code: dividends paid / net income from NUM_TMUS_DIVIDENDS_PAID_FY2025, NUM_TMUS_NET_INCOME_FY2025. Computed from filing inputs; may differ from the company's own reported/adjusted ratio. Day-level period offset: 0d vs row reference 2025-12-31; aligned.
Cash and equivalents	18,234,000,000 FY 2025; period end 2025-12-31; filed 2026-02-09; reporting currency USD source · NUM_T_CASH_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	19,048,000,000 FY 2025; period end 2025-12-31; filed 2026-02-17; reporting currency USD source · NUM_VZ_CASH_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.	5,598,000,000 FY 2025; period end 2025-12-31; filed 2026-02-11; reporting currency USD source · NUM_TMUS_CASH_FY2025 Day-level period offset: 0d vs row reference 2025-12-31; aligned.
Subscribers	Quarantined: Only 0 of 3 companies have a verified fact; threshold is 1.
ARPU	Quarantined: Only 0 of 3 companies have a verified fact; threshold is 1.
Churn	Quarantined: Only 0 of 3 companies have a verified fact; threshold is 1.

Code-computed comparisons

grepcent-computed capex intensity range: range endpoints are TMUS (11.27%) and T (16.59%). Calendar period: 2025-Q4. Computed from facts NUM_TMUS_CAPEX_INTENSITY_FY2025 and NUM_T_CAPEX_INTENSITY_FY2025; comparability: period aligned; reference 2025-12-31; offsets T 0d aligned, TMUS 0d aligned, VZ 0d aligned; tags mixed; concepts us-gaap:PaymentsToAcquireOtherProductiveAssets, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping T -> us-gaap:PaymentsToAcquireProductiveAssets + us-gaap:Revenues; TMUS -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; VZ -> us-gaap:PaymentsToAcquireOtherProductiveAssets + us-gaap:Revenues; no authored numeric comparison.
grepcent-computed dividend payout range: range endpoints are T (37.26%) and VZ (66.85%). Calendar period: 2025-Q4. Computed from facts NUM_T_PAYOUT_RATIO_FY2025 and NUM_VZ_PAYOUT_RATIO_FY2025; comparability: period aligned; reference 2025-12-31; offsets T 0d aligned, TMUS 0d aligned, VZ 0d aligned; tags mixed; concepts us-gaap:NetIncomeLoss, us-gaap:PaymentsOfDividends, us-gaap:PaymentsOfDividendsCommonStock; concept mapping T -> us-gaap:NetIncomeLoss + us-gaap:PaymentsOfDividendsCommonStock; TMUS -> us-gaap:NetIncomeLoss + us-gaap:PaymentsOfDividendsCommonStock; VZ -> us-gaap:NetIncomeLoss + us-gaap:PaymentsOfDividends; no authored numeric comparison.

Market-risk companion: risk and factor comparison from lmfin. It is descriptive and separate from the SEC fundamentals review.

Narrative Matrix

Dimension	T	VZ	TMUS
Business model	Quarantined: no direct dimension-relevant quote survived the gate.	In its latest annual MD&A, VZ describes this business model item. [FACT:Q_VZ_BUSINESS_MODEL_1] We also provide FWA broadband through our 5G or 4G LTE networks as an alternative to traditional landline internet access. company page · source filing · fact Q_VZ_BUSINESS_MODEL_1 · filed 2026-02-17	In its latest annual MD&A, TMUS describes this business model item. [FACT:Q_TMUS_BUSINESS_MODEL_1] The UScellular Wireless Business offers a comprehensive range of wireless communications products and services. company page · source filing · fact Q_TMUS_BUSINESS_MODEL_1 · filed 2026-02-11
Geographic and customer exposure	Quarantined: no direct dimension-relevant quote survived the gate.	Quarantined: no direct dimension-relevant quote survived the gate.	Quarantined: no direct dimension-relevant quote survived the gate.
Capital allocation	Quarantined: no direct dimension-relevant quote survived the gate.	Quarantined: no direct dimension-relevant quote survived the gate.	Quarantined: no direct dimension-relevant quote survived the gate.
Stated strategy in filings	In its latest annual MD&A, T describes this stated strategy in filings item. [FACT:Q_T_STATED_STRATEGY_4] As the owner and operator of scaled wireless and fiber networks, we plan to continue to focus on expanding our wireless network capabilities and providing broadband offerings that allow customers to integrate their home or business fixed services with their mobile service. company page · source filing · fact Q_T_STATED_STRATEGY_4 · filed 2026-02-09	In its latest annual MD&A, VZ describes this stated strategy in filings item. [FACT:Q_VZ_STATED_STRATEGY_1] Our strategy requires significant capital investments primarily to acquire wireless spectrum, put the spectrum into service, provide additional capacity for growth in our networks, invest in fiber, evolve and maintain our networks and develop and maintain significant advanced information technology systems and data system capabilities. company page · source filing · fact Q_VZ_STATED_STRATEGY_1 · filed 2026-02-17	Quarantined: no direct dimension-relevant quote survived the gate.
Idiosyncratic risks in filings	In its latest annual MD&A, T describes this idiosyncratic risks in filings item. [FACT:Q_T_IDIOSYNCRATIC_RISKS_2] In November 2024, we agreed to purchase select spectrum licenses from United States Cellular Corporation (UScellular) for approximately $1,000, subject to closing conditions, including the consummation of UScellular’s sale of its wireless operations and select spectrum assets to T-Mobile US, Inc. company page · source filing · fact Q_T_IDIOSYNCRATIC_RISKS_2 · filed 2026-02-09	In its latest annual MD&A, VZ describes this idiosyncratic risks in filings item. [FACT:Q_VZ_IDIOSYNCRATIC_RISKS_1] Total interest expense increased during 2025 compared to 2024 primarily as a result of a decrease in capitalized interest due to additional C-Band spectrum licenses being placed into service, partially offset by a decrease in interest costs due to lower average debt balances and a lower interest rate. company page · source filing · fact Q_VZ_IDIOSYNCRATIC_RISKS_1 · filed 2026-02-17	In its latest annual MD&A, TMUS describes this idiosyncratic risks in filings item. [FACT:Q_TMUS_IDIOSYNCRATIC_RISKS_3] To date, price inflation has not had a significant impact on our operations as we have fixed rates established through long-term contracts for many of our most significant costs, including for many of our tower agreements and backhaul contracts. company page · source filing · fact Q_TMUS_IDIOSYNCRATIC_RISKS_3 · filed 2026-02-11
Recent narrative change	Quarantined: no direct dimension-relevant quote survived the gate.	Quarantined: no direct dimension-relevant quote survived the gate.	Quarantined: no direct dimension-relevant quote survived the gate.

Gate summary

Facts: 49. Claims survived: 7. Claims dropped: 0. Cells quarantined: 11.

Quarantined quantitative rows

subscribers: Only 0 of 3 companies have a verified fact; threshold is 1.
arpu: Only 0 of 3 companies have a verified fact; threshold is 1.
churn: Only 0 of 3 companies have a verified fact; threshold is 1.

Quarantined dimensions

geographic_customer_exposure: No verified cells survived the gate.
capital_allocation: No verified cells survived the gate.
recent_narrative_change: No verified cells survived the gate.

Quarantined cells

T / business_model: No direct dimension-relevant quote survived the evidence gate.
T / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
VZ / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
TMUS / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
T / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
VZ / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
TMUS / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
TMUS / stated_strategy: No direct dimension-relevant quote survived the evidence gate.
T / recent_narrative_change: No direct dimension-relevant quote survived the evidence gate.
VZ / recent_narrative_change: No direct dimension-relevant quote survived the evidence gate.
TMUS / recent_narrative_change: No direct dimension-relevant quote survived the evidence gate.