Lumida
/TDS
⌘K
Telephone and Data Systems Inc

Telephone and Data Systems Inc

TDS
$34.32USD↓-0.09%-0.03 today

MARKET CAP

3.6B

P/E (TTM)

23.8x

FWD P/E

90.1x

DAY RANGE

$34 – $35

52W RANGE

$33
$49

AI Summary

Stalk
TrimMedium

Despite a long-term uptrend, TDS is in a structural Stage 4 decline with medium-term bearish bias as price forms consecutive lower highs and lower lows. Short-term extreme oversold conditions signal a potential relief bounce, making immediate selling inadvisable. The optimal engagement is to defer selling into relief rallies toward the descending 9/21 EMAs or prior support zones, executing on rejection. Sustained rallies above these EMAs would invalidate the medium-term bearish case.

  • ↑Added 40,000 new fiber addresses in Q1 2026, ~3× Q1 2025 volume
  • ↑Achieved 11,000 residential fiber net adds (+32% YoY) in Q1
  • ↓Q1 2026 revenue of $285 million, down 3% YoY
Full analysis →

The case for & against

Bull & Bear analysis

Bearish

Telephone and Data Systems, Inc. (TDS) is a leading telecommunications provider focused on broadband services, particularly in fiber infrastructure. Positioned to benefit from the ongoing shift toward high-speed internet, TDS has secured a significant presence in underserved markets with a strategic focus on establishing robust fiber networks and tower operations under their subsidiary Array Digital Infrastructure. TDS has been transforming its business model following the divestiture of U.S. Cellular to T-Mobile, aiming to enhance shareholder value while navigating the competitive landscape of telecommunications.

Bull says

  • ↑Added 40,000 new fiber addresses in Q1 2026, ~3× Q1 2025 volume
  • ↑Achieved 11,000 residential fiber net adds (+32% YoY) in Q1
  • ↑Planning to monetize ~$2 billion in spectrum assets for liquidity
  • ↑Paid $23 / share special dividend post-U.S. Cellular divestiture
  • ↑Targeting 2.1 million marketable fiber addresses by 2027
  • ↑Book-to-price ratio of 1.26 signals attractive valuation

Bear says

  • ↓Q1 2026 revenue of $285 million, down 3% YoY
  • ↓Residential revenue declined $5 million YoY, fading legacy streams
  • ↓Leverage at 1.04x raises debt burden amid rising rates
  • ↓Negative earnings yield underscores valuation strain and profit pressure
  • ↓Verizon and AT&T’s aggressive fiber builds pressure market share
  • ↓Execution risks in fiber expansion could delay address targets

Investment themes with TDS

Telecommunications↓ -0.56%

CMCSA · CHTR · RCI

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-11-2026neutral

Transcript signals

Bull points

  • In the first quarter, we saw cash site rental revenue up 64% over Q1 of last year.
  • in Q1, we grew revenue and secured healthy co-location application volumes while supporting T-Mobile in its integration.
  • cash site rental revenue in Q1 increased 55% year-over-year from all customers, and when normalized for DISH impact, this increase was 64%. When layering in the T-Mobile entrance site revenue, the increase was 86% year-over-year, or 98% when normalized for DISH.

Bear points

  • Since early December, DISH has generally failed to make the required payments and is therefore in breach of its obligations.
  • Given the ongoing non-payments, in the first quarter, Array ceased recognizing dish revenue and all unpaid 2025 balances have now been fully reserved.
  • total residential revenue declined 5 million compared to prior year.
Read full transcript analysis ›