this post was submitted on 17 Dec 2025
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DT is far more than a network carrier, it's one of the largest IT services companies in the world. On top of that their largest profits in the mobile sector are from the, eh, less regulated T-Mobile.
Their operating margin is around 12%, way down on last year.
https://companiesmarketcap.com/deutsche-telekom/operating-margin/
A more straightforward telecom example might be Vodafone in the UK who are at -4% this year: providing services cost them money https://companiesmarketcap.com/gbp/vodafone/operating-margin/
Telefonica in Spain are at 1.7% https://companiesmarketcap.com/telefonica/operating-margin/
Orange in France are at 10% https://companiesmarketcap.com/orange/operating-margin/
For comparison outside of the telecoms sector, Google is at 40%
https://companiesmarketcap.com/alphabet-google/operating-margin/