T-Mobile US (TMUS) Stock Today – November 26, 2025: Ex‑Dividend Date, Analyst Downgrade and Black Friday Push

T-Mobile US, Inc. (NASDAQ: TMUS) heads into Wednesday, November 26, 2025 under the spotlight, as the stock trades near its recent lows, hits a key dividend date and leans on aggressive holiday promotions amid mixed Wall Street sentiment.

As of late trading on Tuesday, TMUS was around $206.90 per share, with an intraday range between $206.17 and $209.73 and volume a little over 6.1 million shares. That puts the stock only a few dollars above its recent 52‑week low of $199.41 and roughly 25% below its 52‑week high of $276.49 set in March. ^[1]

Today, November 26, is particularly important for income investors: it is the key dividend date for T-Mobile’s newly increased quarterly payout, and it comes just days after an Oppenheimer downgrade, a steady drumbeat of bullish and cautious analyst commentary, and a flurry of promotional moves heading into Black Friday.

Key Takeaways for TMUS on November 26, 2025

Share price: Trading around $207, near the low end of its one‑year range and below both its 50‑day and 200‑day moving averages. ^[2]
Dividend catalyst: Today is the record / ex‑dividend date for a $1.02 quarterly dividend, a 16% increase versus the prior quarter, implying an annualized payout of $4.08 and a yield of roughly 2% at current prices. ^[3]
Analyst sentiment: Oppenheimer recently cut TMUS to Perform from Outperform on concerns about industry subscriber growth, while Tigress Financial raised its target to $310 with a bullish view on cash‑flow and 5G leadership. ^[4]
Fundamentals: Q3 2025 results showed record postpaid growth, rising service revenues and robust free cash flow, supported by the integration of UScellular. ^[5]
Strategy & promos: T-Mobile is rolling out a “15‑minute switching” experience through its T‑Life app, a new Visa credit card with Capital One, and an “Ultimate Apple Bundle — All on Us” Black Friday offer. ^[6]
Leadership: Srini Gopalan is set to lead the next chapter as CEO after a planned transition from Mike Sievert on November 1, 2025. ^[7]

T-Mobile US Stock Price Snapshot Heading Into November 26

Going into Wednesday’s session, TMUS is trading in a tight band just above $200:

Latest price: $206.90
Tuesday’s range: $206.17 – $209.73
Tuesday open: $207.71
Volume: ~6.16 million shares traded.

According to MarketBeat data, T-Mobile currently sports: ^[8]

Market cap around $232 billion
P/E ratio near 19.9
PEG ratio around 1.5, suggesting growth‑adjusted valuation is moderate
Beta of 0.57, indicating lower volatility than the broader market
Debt‑to‑equity of about 1.37, with quick and current ratios of 0.80 and 0.89, respectively

The shares are trading below their 50‑day moving average of about $222.78 and 200‑day moving average near $234.16, underscoring how far the stock has pulled back from its 2025 highs. ^[9]

For investors looking at TMUS “today,” this means the stock is closer to support than resistance — closer to the one‑year low near $199 than the March high around $276.

Dividend in Focus: 16% Payout Hike and a Key Date Today

Record / Ex‑Dividend Date – November 26, 2025

On September 18, 2025, T-Mobile’s board raised the quarterly dividend by 16% from $0.88 to $1.02 per share, boosting the annualized payout to $4.08. ^[10]

The company stated that the $1.02 dividend will be paid on December 11, 2025 to shareholders of record at the close of business today, November 26, 2025. ^[11]

Major dividend-tracking platforms, including Koyfin, MarketBeat and MarketChameleon, identify November 26, 2025 as the ex‑dividend date associated with this payout. ^[12] In practical terms, that means:

Investors who own TMUS before today’s ex‑dividend cutoff are set to receive the $1.02 payout on December 11.
Buyers on or after today generally will not receive this particular dividend.

With TMUS around $207 and an annualized dividend of $4.08, the forward yield sits near 2%, based on aggregated data providers (some will show small variations depending on which price they use). ^[13]

How That Might Impact Today’s Trading

When a stock trades ex‑dividend, its price often opens slightly lower, roughly in line with the dividend amount, because new buyers are no longer entitled to the upcoming payout. In T-Mobile’s case, that $1.02 represents about 0.5% of the share price, so any ex‑dividend adjustment is likely to be subtle compared with broader market moves.

Still, the combination of:

A larger, growing dividend,
A payout ratio in the low‑30% range, and
Management’s ongoing capital return program,

helps anchor the “total return” story for TMUS even as the stock trades well below its 2025 highs. ^[14]

Mixed Wall Street Signals: From Oppenheimer Downgrade to a $310 Price Target

Oppenheimer Turns Cautious

On November 21, 2025, Oppenheimer downgraded T-Mobile from “Outperform” to “Perform” and removed its price target. The firm highlighted slowing industry subscriber growth and suggested T-Mobile could struggle to consistently beat subscriber and free‑cash‑flow expectations. ^[15]

Following the downgrade, TMUS was reported down about 1.5% to $207.38 intraday, as investors reassessed the near‑term growth outlook. ^[16]

Schaeffer’s Research data, cited by Finviz, painted a nuanced picture: despite the downgrade, options traders were aggressively buying calls, with a 10‑day call/put volume ratio near 3.9, and a short‑term put/call open‑interest ratio at the low end of its one‑year range, signaling bullish speculative interest even as the stock slid. ^[17]

Tigress Financial and Others Stay Bullish

Contrast that with Tigress Financial, which on November 11raised its price target on TMUS from $305 to $310 and reiterated a Buy rating. The analyst cited the company’s ability to grow cash flow and revenue, its leading mid‑band 5G coverage, and a long runway for fixed wireless broadband, where management now targets 12 million customers by 2028 after adding more than 500,000 fixed‑wireless customers in Q3. ^[18]

According to MarketBeat’s consensus data, the average analyst price target around $267 still sits well above today’s ~$207 price level, though that average includes both bulls and a growing cluster of more cautious voices. ^[19]

Short Interest and Sentiment

A separate look from Benzinga noted that short interest as a percentage of TMUS’s float has been edging higher, highlighting that some investors are positioning for continued pressure on the stock despite its long‑term growth story. ^[20]

Put together, the picture for November 26 is one of tension between strong fundamentals and rising skepticism: the core business is delivering robust earnings and cash flow, but the easy growth phase in US wireless may be slowing, and competition may be intensifying.

Fundamentals: Record Q3 Growth and UScellular Synergy Upside

Despite recent price weakness, T-Mobile’s Q3 2025 earnings painted a powerful operational picture.

Q3 2025 Highlights

In its October 23 Q3 release, T-Mobile reported: ^[21]

2.3 million total postpaid net customer additions, a record for the company
1.0 million postpaid phone net adds, its strongest Q3 in over a decade
560,000 broadband net adds, including over 500,000 5G home internet customers
Service revenue of about $18.2 billion, up roughly 9% year‑on‑year
Postpaid service revenue of about $14.9 billion, up around 12% year‑on‑year
Net income near $2.7 billion and Core Adjusted EBITDA of $8.7 billion, both growing versus the prior year
Adjusted free cash flow around $4.8 billion in the quarter

The company also pointed to $3.5 billion returned to shareholders in Q3 alone through share repurchases and dividends, consistent with its multi‑year capital return program. ^[22]

UScellular Acquisition: More Synergies, Faster

T-Mobile’s acquisition of UScellular’s wireless operations, which closed on August 1, 2025, is another key piece of the equity story today. In a September 4 update, the company: ^[23]

Increased its annual run‑rate cost synergy target to about $1.2 billion, up roughly 20% from prior guidance
Shortened the integration timeline to about two years, versus an earlier expectation of three to four years
Estimated Q3 service revenue from UScellular around $400 million, with additional EBITDA and integration costs as the network combination accelerates

The integration is not free — T-Mobile expects roughly $2.6 billion in “costs to achieve” — but management plans to reinvest part of the synergy windfall into network quality and competitive positioning.

For November 26 traders, that backdrop means today’s low‑200s share price bakes in both big integration upside and execution risk over the next two years.

Strategic Moves: Credit Card, Black Friday Apple Bundle and “15‑Minute” Switching

T-Mobile Visa: Deepening the Ecosystem

On November 4, 2025, T-Mobile and Capital One launched the T‑Mobile Visa credit card, aimed at deepening customer loyalty and expanding T-Mobile’s footprint in financial services. The card: ^[24]

Converts everyday purchases into T-Mobile Rewards that can be used toward bills, devices and accessories
Offers higher rewards on T-Mobile purchases, along with an AutoPay bill discount on eligible plans
Is tightly integrated into the T‑Life app, letting users track spending, monitor rewards and apply credits to their T-Mobile accounts in one place

For investors, the launch underscores T-Mobile’s push to monetize engagement beyond connectivity and create more “hooks” that lower churn.

“Ultimate Apple Bundle — All on Us” for Black Friday

On November 25, T-Mobile unveiled a headline Black Friday promotion: the “Ultimate Apple Bundle — All on Us.” The offer is built around up to roughly $2,000 in savings on combinations of iPhone 17 Pro, iPad, Apple Watch and more, when new or existing customers meet certain plan and line‑switching conditions. ^[25]

The bundle is paired with bargains on 5G Home Internet, including a free month for new customers and additional bill credits on certain premium plans. ^[26]

These kinds of holiday offers matter for the stock because they can accelerate subscriber additions, especially in postpaid phones and home broadband, both of which drive high‑margin service revenue.

“15‑Minute Switching” and F1 Partnership

On November 19, T-Mobile announced “Switching Made Easy” — a 15‑minute, app‑driven onboarding process built into T‑Life, powered by AI‑based plan matching and DoorDash‑enabled same‑day device delivery. ^[27]

The same announcement highlighted a multi‑year extension of T-Mobile’s partnership with the FORMULA 1 Heineken Las Vegas Grand Prix and an expanded role as 5G Innovation Partner of Formula 1 in North America through 2028, reinforcing the brand’s positioning at the high end of sports and entertainment. ^[28]

Together, the credit card, Apple bundle and switching upgrade signal that T-Mobile is leaning hard into customer acquisition and lifetime value just as competition with AT&T and Verizon is expected to tighten.

Leadership and Ownership: CEO Transition and Insider Activity

Srini Gopalan Takes the Helm

In a September 22 announcement, T-Mobile said that COO Srini Gopalan will become CEO on November 1, 2025, succeeding Mike Sievert, who moves to a new role as Vice Chairman while remaining on the board and management team. ^[29]

The company framed the change as the result of a long‑planned succession process, emphasizing:

Gopalan’s track record leading T-Mobile’s technology, consumer and business units
His experience as former CEO of Deutsche Telekom’s German business, where he drove faster growth and expanded fiber coverage
A mandate to push T-Mobile further into AI‑enabled, digital‑first operations

Investors watching TMUS today will be parsing upcoming commentary from Gopalan for any strategic shifts around pricing, capital returns and M&A.

Insider and Institutional Moves

Recent disclosures show a mix of insider and institutional activity:

Deutsche Telekom, T-Mobile’s controlling shareholder, has sold blocks of TMUS stock in recent months, including a transaction of around 199,000 shares worth about $46.2 million, as it continues to manage its stake. ^[30]
A separate filing showed a much smaller 1,374‑share sale attributed to Deutsche Telekom as an insider transaction. ^[31]
On the political front, U.S. Representative Lisa McClain disclosed the sale of between $1,001 and $15,000 of T-Mobile shares from a Charles Schwab 401(k) on October 31 — immaterial in size relative to T-Mobile’s market cap, but notable as a public‑official trade. ^[32]
Institutions like American Century Companies and Associated Banc Corp have raised their TMUS holdings, indicating ongoing interest from active managers even as the stock pulls back. ^[33]

Overall, the ownership picture going into November 26 remains one of strong institutional sponsorship and a large strategic holding by Deutsche Telekom, offset by modest trimming at the margin.

Valuation Check: Is TMUS Cheap or Just “Less Expensive”?

Using recent data, TMUS screens as:

P/E ~19.9 and PEG ~1.5, suggesting a premium to slower‑growth telcos but arguably justified by higher growth and stronger cash generation. ^[34]
Dividend yield around 2%, with high‑single‑digit to low‑double‑digit dividend growth implied by the latest 16% quarterly hike. ^[35]
Leverage that is meaningful but manageable, with debt‑to‑equity around 1.37 and substantial free cash flow to fund both network investment and shareholder returns. ^[36]

At roughly $207, the shares trade well below average analyst targets near $267, below the 50‑ and 200‑day moving averages, and only modestly above the recent 52‑week low — a setup that some commentators have framed as a potential bargain in a temporary telecom slump, while others see room for further downside if subscriber growth slows and a price war intensifies. ^[37]

What to Watch in TMUS Stock on November 26, 2025

For investors and traders tracking TMUS today, a few themes are likely to dominate:

Ex‑Dividend Trading Reaction
- Does the share price adjust roughly in line with the $1.02 dividend, or do broader macro and sector factors dominate the tape?
- How does volume compare to recent sessions, given the dividend catalyst?
Follow‑Through After the Oppenheimer Downgrade
- Will we see continued selling pressure as cautious notes ripple through the market, or does the recent pullback attract value and income buyers? ^[38]
Holiday Promotion Impact
- Early indicators on Black Friday sign‑ups for both mobile lines and 5G Home Internet could shape expectations for Q4 net adds, especially after Q3’s strong growth. ^[39]
Integration and Synergy Updates
- Any fresh commentary on UScellular integration progress, synergy capture or capex intensity would likely move sentiment, given the larger‑than‑expected synergy target and shorter integration timeline. ^[40]
CEO Transition Narrative
- As Srini Gopalan steps fully into the CEO seat, investors will be listening closely for signals on strategy, capital allocation and competitive posture compared with the Sievert era. ^[41]

Bottom Line

On November 26, 2025, T-Mobile US (TMUS) sits at the intersection of:

Strong underlying fundamentals — record customer growth, rising service revenues and accelerating synergy expectations from UScellular,
A more generous dividend profile, with a 16% quarterly increase and a key ex‑dividend/record date today, and
Growing investor debate about whether slowing industry growth and stiffer competition will cap upside for the stock in the near term.

For now, TMUS trades closer to its recent lows than its highs, with income investors eyeing the boosted payout and growth‑oriented investors weighing a structurally advantaged 5G leader against a tougher macro and competitive backdrop.

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