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Qwest vs Telephone & Data Systems: revenue, profit, margins and growth compared

Qwest brought in $4.7B of revenue in fiscal 2025, Telephone & Data Systems $1.2B in fiscal 2025. Revenue changed by -13.8% at Qwest and -5.3% at Telephone & Data Systems on the year before, so Telephone & Data Systems grew faster. Qwest kept -27.9% of its revenue as net profit, Telephone & Data Systems -0.5%. Free cash flow was $938M at Qwest and $199.4M at Telephone & Data Systems.

Side by side, latest fiscal year

CTGGTDS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.7B$1.2B
Revenue growth-13.8%-5.3%
Net income-$1.3B-$6.2M
Net margin-27.9%-0.5%
Free cash flow$938M$199.4M
Free cash flow margin19.8%16.2%
Earnings per share (diluted)n/a-$0.65
Cash$39M$766M
Debt$1.7B$828.6M
Price to earningsn/an/a
Market value$0$4.1B
Dividend yieldn/a0.45%
Rank by revenue in sector#13 of 65 · Telecommunications#25 of 65 · Telecommunications

Over the years

Revenue
CTGG FY2018: $8.4BCTGG FY2019: $8.1BCTGG FY2020: $7.3BCTGG FY2021: $7BCTGG FY2022: $6.4BCTGG FY2023: $5.9BCTGG FY2024: $5.5BCTGG FY2025: $4.7BTDS FY2018: $5.1BTDS FY2019: $5.2BTDS FY2020: $5.2BTDS FY2021: $5.3BTDS FY2022: $5.4BTDS FY2023: $1.4BTDS FY2024: $1.3BTDS FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
CTGG $4.7BTDS $1.2B
Net income
CTGG FY2018: $1.7BCTGG FY2019: $1.8BCTGG FY2020: $1.7BCTGG FY2021: $2.1BCTGG FY2022: $1.9BCTGG FY2023: -$831MCTGG FY2024: $1.5BCTGG FY2025: -$1.3BTDS FY2018: $135MTDS FY2019: $121MTDS FY2020: $226MTDS FY2021: $156MTDS FY2022: $62MTDS FY2023: -$500MTDS FY2024: -$27.7MTDS FY2025: -$6.2MFY18FY19FY20FY21FY22FY23FY24FY25
CTGG -$1.3BTDS -$6.2M
Net margin
CTGG FY2018: 19.8%CTGG FY2019: 22.7%CTGG FY2020: 23.3%CTGG FY2021: 30.3%CTGG FY2022: 29.8%CTGG FY2023: -14.0%CTGG FY2024: 27.0%CTGG FY2025: -27.9%TDS FY2018: 2.6%TDS FY2019: 2.3%TDS FY2020: 4.3%TDS FY2021: 2.9%TDS FY2022: 1.1%TDS FY2023: -36.9%TDS FY2024: -2.1%TDS FY2025: -0.5%FY18FY19FY20FY21FY22FY23FY24FY25
CTGG -27.9%TDS -0.5%
Revenue growth
CTGG FY2019: -4.1%CTGG FY2020: -9.2%CTGG FY2021: -5.0%CTGG FY2022: -7.2%CTGG FY2023: -8.3%CTGG FY2024: -6.9%CTGG FY2025: -13.8%TDS FY2019: +1.3%TDS FY2020: +0.9%TDS FY2021: +2.0%TDS FY2022: +1.6%TDS FY2023: -75.0%TDS FY2024: -4.3%TDS FY2025: -5.3%FY19FY20FY21FY22FY23FY24FY25
CTGG -13.8%TDS -5.3%
Free cash flow
CTGG FY2018: $2.8BCTGG FY2019: $2.3BCTGG FY2020: $2BCTGG FY2021: $2.2BCTGG FY2022: $1.8BCTGG FY2023: $1.3BCTGG FY2024: $1.1BCTGG FY2025: $938MTDS FY2018: $241MTDS FY2019: $59MTDS FY2020: $194MTDS FY2021: -$28MTDS FY2022: -$6MTDS FY2023: $498.1MTDS FY2024: $780.4MTDS FY2025: $199.4MFY18FY19FY20FY21FY22FY23FY24FY25
CTGG $938MTDS $199.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Qwest and Telephone & Data Systems

Which is bigger by revenue, Qwest or Telephone & Data Systems?

Qwest is bigger by revenue: $4.7B in fiscal 2025, against $1.2B for Telephone & Data Systems in fiscal 2025.

Which keeps more of its revenue as profit, Qwest or Telephone & Data Systems?

Qwest had a net margin of -27.9% in fiscal 2025; Telephone & Data Systems had -0.5% in fiscal 2025.

Which grew revenue faster, Qwest or Telephone & Data Systems?

In their latest fiscal years revenue changed by -13.8% at Qwest and -5.3% at Telephone & Data Systems.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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