The Idiot Index

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Sector
Labor ShareApplied to wireless, broadband, and integrated communications carriers. COGS captures network cost of services; OpEx is dominated by SG&A and depreciation on enormous capital plants. Markup ratios understate the picture because the capital base isn't in COGS — Operational Markup…
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Labor Share in Telecom · FY 2023

6 of 6 companies · highest first
  1. 1
    TAT&T
    20¢ of every $1 of revenue reaches workers
    sector median 0.1725Bottom 8%
    0.1986
    of revenue → workers
  2. 2
    CMCSAComcast
    20¢ of every $1 of revenue reaches workers
    sector median 0.1725Bottom 25%
    0.1963
    of revenue → workers
  3. 3
    LUMNLumen
    17¢ of every $1 of revenue reaches workers
    sector median 0.1725Median range
    0.1735
    of revenue → workers
  4. 4
    VZVerizon
    17¢ of every $1 of revenue reaches workers
    sector median 0.1725Median range
    0.1716
    of revenue → workers
  5. 5
    CHTRCharter
    14¢ of every $1 of revenue reaches workers
    sector median 0.1725Top 25%
    0.1385
    of revenue → workers
  6. 6
    TMUST-Mobile
    8¢ of every $1 of revenue reaches workers
    sector median 0.1725Top 8%
    0.0772
    of revenue → workers

What this measures

Full methodology →

How much of every revenue dollar reaches workers.

Ratio
Labor Share
Sector
Telecom
Methodology version
v1.0.0
Formula
TotalEmployeeCompensation / Revenue
Sector context

Applied to wireless, broadband, and integrated communications carriers. COGS captures network cost of services; OpEx is dominated by SG&A and depreciation on enormous capital plants. Markup ratios understate the picture because the capital base isn't in COGS — Operational Markup is the more honest gross indicator. Shareholder Extraction is structurally high in this sector because mature carriers run large dividends.

How much of revenue flows to the people creating it. Includes wages, salaries, benefits, and stock-based compensation.

When direct disclosure is missing: approximated as Headcount × Median Pay × 1.30 (1.30 grosses up base pay to fully-loaded compensation including benefits and equity). The approximation is documented per company on its detail page.

Source data: LaborAndRelatedExpense, ShareBasedCompensation (us-gaap), or EmployeeBenefitsExpense (ifrs-full). When approximated: NumberOfEmployees × disclosed median compensation.