DTE Balance Sheet - Deutsche Telekom AG

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Price: 25.75 EUR -0.08%

Market Cap: €84.5B

Financial profile · Q2 FY2026

A scaled recurring telecom platform with cash generation and network-intensive reinvestment

Deutsche Telekom shows a recurring service-led model that converts scale across multiple markets into expanding operating earnings and substantial cash generation. It remains network-intensive, so a meaningful portion of cash flow is reinvested in infrastructure while shareholder distributions and buybacks compete with debt reduction for capital.

What is developing

The June 30, 2026 quarter confirmed the established pattern of revenue, operating-income, and free-cash-flow generation, but reported net income and EPS moved lower because of below-operating-line and integration-related effects. That is a meaningful earnings-quality development, not yet a change in the underlying cash-generative model.

What matters next

Whether reported net income and EPS recover as UScellular integration effects roll off without sacrificing operating cash flow or network investment.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	7.7B	3.3B	3.7B	5.4B	12.9B	7.6B	5.8B	7.3B	8.5B	7.8B
Cash Equivalents	7.7B	3.3B	3.7B	5.4B	12.9B	7.6B	5.8B	7.3B	8.5B	7.8B
Short-Term Investments	2m	0	12m	29m	93m	93m	95m	110m	93m	369m
Total Receivables	14.7B	13B	14.9B	16.3B	18.9B	21.4B	24B	23.5B	23.8B	24.7B
Accounts Receivables	9.2B	9.6B	11.8B	12.7B	15.5B	17.3B	19.2B	18.6B	19.1B	20B
Other Receivables	5.5B	3.4B	3.2B	3.6B	3.4B	4.1B	4.8B	5B	4.6B	4.7B
Inventory	1.6B	2B	1.8B	1.6B	2.7B	2.9B	2.6B	2.4B	2.5B	2.9B
Other Current Assets	2.6B	2.1B	1.5B	1.4B	2.6B	6.8B	6.6B	3B	2.4B	5.5B
Total Current Assets	26.6B	20.4B	21.9B	24.7B	37.3B	38.8B	39.1B	36.4B	37.2B	41.2B
PP&E Net	46.8B	46.9B	50.6B	67.5B	91.3B	92.5B	99.5B	97.9B	98.8B	93.4B
PP&E Gross	46.8B	46.9B	50.6B	67.5B	91.3B	92.5B	99.5B	97.9B	98.8B	93.4B
Accumulated Depreciation	(105.7B)	(106.6B)	(111.5B)	(113.9B)	(117.3B)	(123.1B)	(110.7B)	(112.2B)	(117.8B)	(116.8B)
Intangible Assets	46.3B	50.6B	52.7B	55.8B	98.2B	112.1B	120B	115.7B	127.5B	112.8B
Goodwill	14.3B	12.3B	12.3B	12.4B	19.8B	20.5B	20.6B	20.3B	21.6B	20.9B
Note Receivable	—	—	—	—	—	—	—	—	—	1.4B
Long-Term Investments	8.6B	6.4B	2.2B	4.5B	7B	5.8B	6.4B	8.7B	10.7B	12.3B
Other Long-Term Assets	5.9B	4.8B	5.8B	5.8B	11.3B	11.9B	13B	11.3B	9.2B	7.9B
Other Assets	14.3B	12.3B	12.3B	12.4B	19.8B	20.5B	20.6B	20.3B	21.6B	20.9B
Total Assets	148.5B	141.3B	145.4B	170.7B	264.9B	281.6B	298.6B	290.3B	304.9B	289.8B
Accounts Payable	10.4B	10.9B	10.7B	9.4B	9.7B	10.4B	12B	10.8B	9.4B	9.5B
Accrued Liabilities	—	—	3B	3.1B	4B	4.2B	5.1B	5.1B	5.2B	2.8B
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Current Portion of Long-Term Debt	11.4B	7B	8.6B	13B	16.1B	15.7B	17.8B	13.4B	12.3B	14.1B
Other Current Liabilities	11.4B	9.5B	6.8B	7.4B	7.3B	8.5B	10.5B	6.8B	8.4B	10.4B
Deferred Revenue	2.1B	1.8B	2.1B	1.9B	1.9B	1.9B	2B	2.1B	2.4B	2.7B
Total Current Liabilities	33.1B	27.4B	29.1B	32.9B	37.1B	38.8B	45.4B	36.1B	35.2B	36.8B
Long-Term Debt	49.8B	48.3B	51B	70.1B	121.1B	126.3B	129.3B	127.4B	134.2B	127.1B
Deferred Income Tax	10B	7B	8.2B	9B	17.3B	19.8B	22.8B	21.9B	24.3B	22.3B
Minority Interest	9.5B	11.7B	12.5B	14.5B	36.6B	38.8B	38.8B	34.3B	35.3B	30.1B
Other Liabilities	16.7B	16.2B	13.6B	12.5B	16.8B	15.2B	13.7B	13.7B	12.7B	11.3B
Total Liabilities	119.2B	110.6B	114.5B	139B	229B	238.9B	250B	233.4B	241.6B	227.6B
Common Stock	12B	12.2B	12.2B	12.2B	12.2B	12.8B	12.8B	12.8B	12.8B	12.6B
Retained Earnings	(36.1B)	(35.3B)	(35.2B)	(34.8B)	(34.7B)	(32.2B)	(26.5B)	(12.1B)	(5.8B)	(1.6B)
Additional Paid In Capital	53.4B	55B	54.6B	55B	62.6B	63.8B	61.5B	56.8B	55.1B	53.2B
Unrealized Security Profit/Loss	(33m)	(34m)	54m	74m	142m	99m	59m	0	69m	356m
Treasury Stock	(50m)	(49m)	(49m)	(47m)	(46m)	(37m)	(35m)	(20m)	(220m)	(172m)
Other Equity	111m	(1.1B)	(707m)	(696m)	(4.3B)	(1.7B)	725m	(525m)	1.3B	(2.1B)
Total Equity	29.3B	30.7B	30.9B	31.7B	35.9B	42.7B	48.6B	56.9B	63.3B	62.2B
Total Liabilities & Equity	148.5B	141.3B	145.4B	170.7B	264.9B	281.6B	298.6B	290.3B	304.9B	289.8B
Common Shares Outstanding	4.7B	4.7B	4.7B	4.7B	4.7B	5B	5B	5B	4.9B	4.8B