Companies: 10,795·Total market cap: $144.5T
Telephone and Data Systems, Inc.

Telephone and Data Systems, Inc.

TDSNYSECommunication Services● Active
$38.98
$-0.19(-0.47%)
Market Cap$4.1B
P/E Ratio—
52W High$49.12
52W Low$32.6
Free Cash FlowFinancialsRevenue

Telephone and Data Systems, Inc. (TDS) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

TDS · free cash flow · updated Jun 8, 2026

Core FCF metrics

Free cash flow was $195.2M for FY2025 (fiscal year ending 2025-12-31), down 19.0% year-over-year The FCF margin was 15.9%. Five-year CAGR stands at +3.5%.

FY2025 Free Cash Flow$195.2M▼ -19.0% YoY
Trailing 12M (TTM)$56.6Mtrailing 4 quarters sum
FCF Margin15.9%$195.2M ÷ revenue
3-Year CAGRN/AN/A — contains negative FCF
5-Year CAGR+3.5%FY2020 → FY2025
FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0
Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
tds free cash flow history · tds free cash flow chart · tds free cash flow growth rate · tds free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest$195.2M▼ 19.0%15.9%
FY2024$241.0M▲ +221.1%4.8%
FY2023−$199.0M▲ +67.9%-3.9%
FY2022−$620.0M▼ 1191.7%-11.4%
FY2021−$48.0M▼ 129.3%-0.9%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
tds free cash flow 2025 · tds free cash flow 2024 · tds free cash flow 2023 · tds operating cash flow

FCF valuation metrics

Telephone and Data Systems, Inc. (TDS) trades at a FCF yield of 1.37% and a price-to-free-cash-flow ratio of 79.5x. FCF per share stands at $0.49, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)
1.37%
Free Cash Flow ÷ Market Cap
per FMP freeCashFlowYieldTTM definition
FCF per Share (TTM)
$0.49
TTM FCF ÷ Shares Outstanding
Price / FCF
x79.5
Share Price ÷ FCF per Share
EV / FCF (TTM)
x71.0
Enterprise Value basis
Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31
tds price to free cash flow · tds free cash flow yield · tds free cash flow per share · tds price to cash flow ratio

Cash flow statement summary

For FY2025, Telephone and Data Systems, Inc. generated $589.9M in operating cash flow and spent 395M in capital expenditures, yielding $195.2M in free cash flow.

Operating Activities
+$589.9M
Cash from core business operations
2025-12-31
Investing Activities
+$2.14B
CapEx, acquisitions & investments
2025-12-31
Financing Activities
−$2.35B
Buybacks, dividends & debt
2025-12-31
FCF FormulaOperating CF ($589.9M) − |CapEx| (395M) = FCF ($195.2M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →
tds cash flow statement · tds cash flow statement 2025 · tds operating cash flow · tds cash flow from operations

Free cash flow vs peers (Communication Services)

#CompanyFree Cash FlowYoY
#1
Telephone and Data Systems, Inc.
Telephone and Data Systems, Inc.YOU
TDS
$195.2M-19.0%
#2
Alphabet Inc.
Alphabet Inc.
GOOGL
$73.27B+0.7%#3
Alphabet Inc.
Alphabet Inc.
GOOG
$73.27B+0.7%#4
Meta Platforms, Inc.
Meta Platforms, Inc.
META
$46.11B-14.7%#5
Verizon Communications, 5.9% 15 Feb 2054
Verizon Communications, 5.9% 15 Feb 2054
VZA
$19.68B+4.0%#6
Netflix, Inc.
Netflix, Inc.
NFLX
$9.46B+36.7%
Communication Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Telephone and Data Systems, Inc. (TDS) reported free cash flow of $195.2M for FY2025 (fiscal year ending 2025-12-31), down 19.0% year-over-year. The FCF margin was 15.9%.

Based on available data, Telephone and Data Systems, Inc. has maintained positive free cash flow for at least 9 fiscal year(s). FCF peaked at $284.0M in FY2011. The 5-year CAGR stands at +3.5%.

Telephone and Data Systems, Inc.'s FCF yield is 1.37% and price-to-FCF ratio is 79.5x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/E ratio

Frequently asked questions

TDS free cash flow · 8 questions

Telephone and Data Systems, Inc. free cash flow was $195.2M for FY2025, down 19.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $56.6M.

TDS free cash flowTDS FCFTDS FCF 2025TDS free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Telephone and Data Systems, Inc. · Telephone and Data Systems, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026