ECHO vs TMUS: EchoStar CORP and T-Mobile US compared
T-Mobile US is the larger company, worth $179.2B, about 6.5 times EchoStar CORP.
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- T-Mobile US is the larger company, worth $179.2B, about 6.5 times EchoStar CORP.
- T-Mobile US grew revenue faster over the last year (+9.3% vs -19.8%).
- T-Mobile US keeps more of each dollar of revenue as operating profit (20.7% vs 2.2%).
- On earnings, EchoStar CORP is the cheaper stock (3.5x vs 15.6x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ECHO | TMUS |
|---|---|---|
| Market cap | $27.5B | $179.2B |
| Share price | $94.62 | $168.65 |
| Revenue (last fiscal year) | $15.0B | $88.3B |
| Free cash flow (last fiscal year) | -$1.1B | $18.0B |
| Revenue growth, last year | -19.8% | +9.3% |
| Revenue growth per year, last 5 fiscal years | -6.7% | +2.5% |
| Operating margin | 2.2% | 20.7% |
| Net margin | 81.3% | 12.1% |
| Return on equity | 58.4% | 20.1% |
| P/E (trailing) | 3.46x | 15.6x |
| Price / free cash flow | — | 9.23x |
| EV / EBITDA | 1.92x | 5.17x |
| FCF growth the price implies | — | -4.2% |
| Dividend yield | — | 2.6% |
| Debt / equity | 0.57x | 0.11x |
| Fundamental grade | C | B |
| Superinvestors holding it | 0 | 30 |
| Insider purchases, last 12 months | 0 | 1 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
EchoStar CORP
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $19.8B | $3.0B | 17.3% |
| 2022 | $18.6B | $548M | 12.0% |
| 2023 | $17.0B | -$668M | -1.6% |
| 2024 | $15.8B | -$292M | -1.9% |
| 2025 | $15.0B | -$1.1B | -118.1% |
T-Mobile US
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $80.1B | $1.6B | 8.6% |
| 2022 | $79.6B | $2.8B | 8.2% |
| 2023 | $78.6B | $8.8B | 18.2% |
| 2024 | $81.4B | $13.5B | 22.1% |
| 2025 | $88.3B | $18.0B | 20.7% |
Where the revenue comes from
EchoStar CORP · by segments, 2025
T-Mobile US · by products, 2025
Questions
Which is bigger, EchoStar CORP or T-Mobile US?
T-Mobile US (TMUS), at $179.2B against $27.5B.
Is ECHO or TMUS cheaper?
By trailing P/E, EchoStar CORP (3.46x) is cheaper than T-Mobile US (15.6x). A lower multiple can also mean the market expects less growth.
Which grows faster, ECHO or TMUS?
T-Mobile US: revenue grew +9.3% over the last year, against -19.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.