A Three-Way Knife Fight: Verizon, AT&T, and T-Mobile
Updated: Feb 9, 2022
Hello to all!
This is my analysis of the US telecommunications industry as of 2021. This analysis looked at historical and emergent trends in the industry, focusing on the transition to 5G, and their ramifications for the three major carriers, that being AT&T, Verizon, and T-Mobile USA, in order to determine which company, if any, represents an intrinsic-value investment opportunity. For each carrier, a competitve and historical financial analysis was conducted, along with a discounted cash flow valuation (credit to Aswath Damodaran for creating the DCF models). For AT&T, this also included a turnaround model and valuation, a first for me, which is accessible below.
For those of you looking for a short, high-level overview, please follow this link to my summary video:
If, on the other hand, you are interested in a more detailed discussion, you can view my full report below, along with the Excel models for each company:
US Telcom Industry Analysis
.pdf
Download PDF • 468KB
T Final
.xlsx
Download XLSX • 350KB
VZ Final
.xlsx
Download XLSX • 123KB
TMUS Final
.xlsx
Download XLSX • 121KB
*These files are only meant for viewing, so please do not copy or reproduce them, or post them online