Telephone and Data Systems Inc (TDS) - Net Assets

Latest as of September 2025: $5.28 Billion USD

Based on the latest financial reports, Telephone and Data Systems Inc (TDS) has net assets worth $5.28 Billion USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($8.53 Billion) and total liabilities ($3.25 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Telephone and Data Systems Inc tangible net worth ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	$5.28 Billion
% of Total Assets	61.94%
Annual Growth Rate	11.41%
5-Year Change	5.02%
10-Year Change	25.05%
Growth Volatility	22.2

Telephone and Data Systems Inc - Net Assets Trend (1985–2024)

This chart illustrates how Telephone and Data Systems Inc's net assets have evolved over time, based on quarterly financial data. See Telephone and Data Systems Inc defensive interval ratio to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Telephone and Data Systems Inc (1985–2024)

The table below shows the annual net assets of Telephone and Data Systems Inc from 1985 to 2024. For live valuation and market cap data, see TDS market cap.

Year	Net Assets	Change
2024-12-31	$5.88 Billion	-2.06%
2023-12-31	$6.01 Billion	-9.18%
2022-12-31	$6.62 Billion	-1.93%
2021-12-31	$6.75 Billion	+20.38%
2020-12-31	$5.60 Billion	+3.47%
2019-12-31	$5.42 Billion	+2.09%
2018-12-31	$5.30 Billion	+8.40%
2017-12-31	$4.89 Billion	+2.99%
2016-12-31	$4.75 Billion	+0.97%
2015-12-31	$4.71 Billion	+5.59%
2014-12-31	$4.46 Billion	-4.59%
2013-12-31	$4.67 Billion	+0.30%
2012-12-31	$4.66 Billion	+1.18%
2011-12-31	$4.60 Billion	+3.18%
2010-12-31	$4.46 Billion	+0.40%
2009-12-31	$4.44 Billion	+0.57%
2008-12-31	$4.42 Billion	-3.49%
2007-12-31	$4.58 Billion	+9.51%
2006-12-31	$4.18 Billion	+7.09%
2005-12-31	$3.90 Billion	+5.78%
2004-12-31	$3.69 Billion	+2.15%
2003-12-31	$3.61 Billion	+1.98%
2002-12-31	$3.54 Billion	-11.14%
2001-12-31	$3.99 Billion	-8.88%
2000-12-31	$4.38 Billion	+45.75%
1999-12-31	$3.00 Billion	-0.08%
1998-12-31	$3.00 Billion	+17.08%
1997-12-31	$2.57 Billion	+2.86%
1996-12-31	$2.49 Billion	+22.03%
1995-12-31	$2.04 Billion	+14.31%
1994-12-31	$1.79 Billion	+20.00%
1993-12-31	$1.49 Billion	+41.70%
1992-12-31	$1.05 Billion	+31.31%
1991-12-31	$800.90 Million	+65.41%
1990-12-31	$484.20 Million	+22.46%
1989-12-31	$395.40 Million	+104.24%
1988-12-31	$193.60 Million	+42.04%
1987-12-31	$136.30 Million	+30.18%
1986-12-31	$104.70 Million	+20.21%
1985-12-31	$87.10 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Telephone and Data Systems Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 6697.8% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	$1.85 Billion	36.32%
Common Stock	$1.00 Million	0.02%
Other Comprehensive Income	$18.00 Million	0.35%
Other Components	$3.22 Billion	63.31%
Total Equity	$5.09 Billion	100.00%

Telephone and Data Systems Inc Competitors by Market Cap

The table below lists competitors of Telephone and Data Systems Inc ranked by their market capitalization.

Company	Market Cap
Rush Enterprises A Inc NASDAQ:RUSHA	$4.28 Billion
Chongqing Zhifei Bio Products SHE:300122	$4.28 Billion
Kalyan Jewellers India Limited NSE:KALYANKJIL	$4.28 Billion
Aluminum Corporation of China Limited F:AOC	$4.28 Billion
Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd SHG:600332	$4.27 Billion
ENSTAR GROUP LTD DL-01 F:48R	$4.27 Billion
Doosan Bobcat Inc KO:241560	$4.27 Billion
Octave Intelligence plc NASDAQ:OCTV	$4.27 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Telephone and Data Systems Inc's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 5,202,000,000 to 5,091,000,000, a change of -111,000,000 (-2.1%).
Net loss of 28,000,000 reduced equity.
Dividend payments of 104,000,000 reduced retained earnings.
Share repurchases of 54,000,000 reduced equity.
Other comprehensive income increased equity by 7,000,000.
Other factors increased equity by 68,000,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	$-28.00 Million	-0.55%
Dividends Paid	$104.00 Million	-2.04%
Share Repurchases	$54.00 Million	-1.06%
Other Comprehensive Income	$7.00 Million	+0.14%
Other Changes	$68.00 Million	+1.34%
Total Change	$-	-2.13%

Book Value vs Market Value Analysis

This analysis compares Telephone and Data Systems Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 0.89x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has decreased from 22.36x to 0.89x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1985-12-31	$1.77	$39.59	x
1986-12-31	$2.27	$39.59	x
1987-12-31	$2.81	$39.59	x
1988-12-31	$3.68	$39.59	x
1989-12-31	$6.06	$39.59	x
1990-12-31	$6.84	$39.59	x
1991-12-31	$9.61	$39.59	x
1992-12-31	$10.64	$39.59	x
1993-12-31	$12.39	$39.59	x
1994-12-31	$12.74	$39.59	x
1995-12-31	$13.53	$39.59	x
1996-12-31	$15.57	$39.59	x
1997-12-31	$16.33	$39.59	x
1998-12-31	$15.57	$39.59	x
1999-12-31	$23.54	$39.59	x
2000-12-31	$29.92	$39.59	x
2001-12-31	$27.59	$39.59	x
2002-12-31	$23.94	$39.59	x
2003-12-31	$24.74	$39.59	x
2004-12-31	$25.50	$39.59	x
2005-12-31	$26.55	$39.59	x
2006-12-31	$28.11	$39.59	x
2007-12-31	$30.32	$39.59	x
2008-12-31	$29.82	$39.59	x
2009-12-31	$31.72	$39.59	x
2010-12-31	$33.26	$39.59	x
2011-12-31	$33.42	$39.59	x
2012-12-31	$36.83	$39.59	x
2013-12-31	$37.74	$39.59	x
2014-12-31	$36.20	$39.59	x
2015-12-31	$37.54	$39.59	x
2016-12-31	$37.34	$39.59	x
2017-12-31	$38.12	$39.59	x
2018-12-31	$40.00	$39.59	x
2019-12-31	$40.11	$39.59	x
2020-12-31	$41.77	$39.59	x
2021-12-31	$51.09	$39.59	x
2022-12-31	$51.31	$39.59	x
2023-12-31	$46.04	$39.59	x
2024-12-31	$44.66	$39.59	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Telephone and Data Systems Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): -0.55%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -0.56%
• Asset Turnover: 0.36x
• Equity Multiplier: 2.69x
Recent ROE (-0.55%) is below the historical average (4.00%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1985	9.87%	7.22%	0.29x	4.67x	$-110.00K
1986	13.85%	9.35%	0.35x	4.18x	$4.03 Million
1987	9.17%	7.16%	0.35x	3.67x	$-1.13 Million
1988	5.84%	5.76%	0.33x	3.09x	$-8.06 Million
1989	3.01%	4.63%	0.31x	2.09x	$-25.79 Million
1990	6.05%	9.23%	0.31x	2.09x	$-17.77 Million
1991	3.07%	5.96%	0.26x	1.99x	$-47.58 Million
1992	3.35%	6.75%	0.27x	1.85x	$-61.08 Million
1993	2.68%	5.74%	0.26x	1.78x	$-92.78 Million
1994	3.94%	8.18%	0.26x	1.84x	$-91.80 Million
1995	6.06%	10.90%	0.28x	2.02x	$-67.57 Million
1996	6.21%	10.55%	0.29x	2.04x	$-78.12 Million
1997	-0.44%	-0.65%	0.30x	2.31x	$-224.43 Million
1998	2.51%	3.57%	0.33x	2.16x	$-191.99 Million
1999	9.23%	11.72%	0.37x	2.16x	$-19.21 Million
2000	56.72%	96.14%	0.27x	2.19x	$1.84 Billion
2001	-5.63%	-7.65%	0.32x	2.29x	$-549.95 Million
2002	-32.25%	-32.97%	0.31x	3.15x	$-1.29 Billion
2003	1.98%	1.78%	0.34x	3.28x	$-248.93 Million
2004	1.54%	1.32%	0.34x	3.45x	$-270.07 Million
2005	6.64%	5.62%	0.38x	3.11x	$-112.52 Million
2006	4.53%	3.71%	0.41x	2.97x	$-195.28 Million
2007	9.83%	8.00%	0.49x	2.52x	$-6.52 Million
2008	2.48%	1.84%	0.67x	2.03x	$-283.29 Million
2009	5.13%	3.86%	0.66x	2.01x	$-183.91 Million
2010	3.77%	2.88%	0.64x	2.03x	$-237.62 Million
2011	5.06%	3.87%	0.63x	2.07x	$-195.73 Million
2012	2.04%	1.53%	0.62x	2.15x	$-319.38 Million
2013	3.45%	2.90%	0.55x	2.16x	$-269.94 Million
2014	-3.47%	-2.72%	0.56x	2.27x	$-529.07 Million
2015	5.31%	4.23%	0.55x	2.28x	$-193.60 Million
2016	1.04%	0.84%	0.54x	2.28x	$-371.50 Million
2017	3.58%	3.03%	0.54x	2.18x	$-273.90 Million
2018	2.96%	2.64%	0.52x	2.15x	$-321.00 Million
2019	2.60%	2.34%	0.48x	2.32x	$-344.30 Million
2020	4.70%	4.33%	0.42x	2.61x	$-254.40 Million
2021	2.63%	2.93%	0.39x	2.28x	$-436.70 Million
2022	1.06%	1.15%	0.37x	2.49x	$-522.90 Million
2023	-9.61%	-9.69%	0.37x	2.68x	$-1.02 Billion
2024	-0.55%	-0.56%	0.36x	2.69x	$-537.10 Million

Industry Comparison

This section compares Telephone and Data Systems Inc's net assets metrics with peer companies in the Telecom Services industry.

Industry Context

Industry: Telecom Services
Average net assets among peers: $79,885,368,200
Average return on equity (ROE) among peers: 1.92%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Telephone and Data Systems Inc (TDS)	$5.28 Billion	9.87%	0.61x	$4.28 Billion
Array Digital Infrastructure, Inc. (AD)	$4.58 Billion	0.65%	1.43x	$2.08 Billion
America Movil SAB de CV ADR (AMX)	$327.10 Billion	8.97%	3.75x	$71.77 Billion
Anterix Inc (ATEX)	$161.03 Million	-5.67%	1.02x	$1.21 Billion
ATN International Inc (ATNI)	$164.80 Million	10.92%	1.32x	$396.21 Million
Altice USA Inc (ATUS)	$-5.29 Billion	0.00%	0.00x	$502.28 Million
Cable One Inc (CABO)	$1.87 Billion	14.28%	2.66x	$232.53 Million
Cogent Communications Group Inc (CCOI)	$221.00 Million	-30.55%	0.59x	$697.03 Million
Chunghwa Telecom Co Ltd (CHT)	$374.01 Billion	11.45%	0.21x	$33.99 Billion
Charter Communications Inc (CHTR)	$3.01 Billion	-2.20%	5.30x	$17.82 Billion
Comcast Corp (CMCSA)	$93.02 Billion	11.32%	1.94x	$79.91 Billion

About Telephone and Data Systems Inc

NYSE:TDS USA Telecom Services

Market Cap

$4.28 Billion

Market Cap Rank

#4019 Global

#1368 in USA

Share Price

$39.59

Change (1 day)

+0.46%

52-Week Range

$33.20 - $47.59

All Time High

$47.59