greeksoup/ stock research
Stock research / United States / T · Telephone Communications (No Radiotelephone) · NYSE

AT&T Inc. (T)

AT&T provides telecommunications and technology services: wireless service to consumers and businesses, fibre and other broadband to homes and companies, and network services to enterprises. It is a holding company incorporated in Delaware in 1983, with head offices in Dallas, Texas, and it employed approximately 133,030 people at 31 December 2025. There are two reportable segments, Communications and Latin America, with the rest reported as Corporate and Other. Brands include AT&T, AT&T Business, Cricket, AT&T PREPAID, AT&T Fiber and AT&T Internet Air.

AT&T Inc.

AT&T provides telecommunications and technology services: wireless service to consumers and businesses, fibre and other broadband to homes and companies, and network services to enterprises. It is a holding company incorporated in Delaware in 1983, with head offices in Dallas, Texas, and it employed approximately 133,030 people at 31 December 2025. There are two reportable segments, Communications and Latin America, with the rest reported as Corporate and Other. Brands include AT&T, AT&T Business, Cricket, AT&T PREPAID, AT&T Fiber and AT&T Internet Air.

How it got here

The company was formed as SBC Communications, one of the regional holding companies created to hold AT&T Corp.'s local telephone companies, and was spun off on 1 January 1984 under an anti-trust consent decree. Its subsidiaries merged with Pacific Telesis Group in 1997 and Ameritech Corporation in 1999. In 2005 it merged a subsidiary with AT&T Corp. and took the AT&T Inc. name. It bought BellSouth in 2006, which brought BellSouth's 40% economic interest in AT&T Mobility and so full ownership of it, Leap Wireless International in 2014, and wireless properties in Mexico and DIRECTV in 2015. The video business was separated in July 2021 into DIRECTV Entertainment Holdings with TPG Capital, and the remaining interest in DIRECTV was sold to TPG in July 2025.

Mobility

Nationwide wireless service to consumers and to wholesale and resale subscribers in the United States, plus handsets, data cards and accessories sold online, through company-owned stores, agents and third-party retailers, with installment purchase available and customers free to bring their own device. There were 120 million Mobility subscribers at 31 December 2025: 91 million postpaid, of which 74 million were phone subscribers, 18 million prepaid and 11 million through resellers. Prepaid runs under the Cricket and AT&T PREPAID brands. FirstNet is a nationwide wireless broadband network built for public safety users.

Wireline, fibre and copper

Business Wireline sells to multinational corporations, small and mid-sized businesses, government and wholesale customers, covering fibre and advanced connectivity, fixed wireless, IP voice and managed professional services, and the declining legacy copper voice and data, virtual private network, wholesale and outsourcing lines. Consumer Wireline sells broadband to homes, including multi-gigabit fibre connections and the AT&T Internet Air fixed wireless product delivered over the 5G network, plus legacy telephone service. At 31 December 2025 there were 16.0 million broadband connections against 15.3 million a year earlier, of which 10.4 million were fibre consumer wireline broadband customers after adding 1.1 million during the year, and 1.5 million were Internet Air connections after adding 875,000. The company is working to exit its legacy copper network across most of its wireline footprint, migrating customers to fibre and wireless; switched access lines fell to 2.1 million from 2.7 million and legacy consumer internet connections to 2.8 million from 4.1 million.

The network

In North America the network covers over 441 million people with 4G LTE and over 322 million with 5G. In the United States it covers all major metropolitan areas, more than 337 million people with LTE and more than 322 million with 5G. Deploying 5G means modifying existing cell sites to add equipment for new frequencies such as the C-Band and the 3.45 GHz band. The company buys spectrum in Federal Communications Commission auctions and from third parties, and redeploys spectrum used for older services. The filing states that during 2026 it is focused on accelerating fibre expansion, organically and through its pending acquisition of substantially all of Lumen's Mass Markets fibre business, and on deploying low- and mid-band spectrum including spectrum to be acquired from pending transactions with EchoStar Corporation.

Latin America

Wireless service and equipment in Mexico, using regional and national wireless networks to serve consumer and business customers with data and voice. The segment provided approximately 3% of 2025 segment operating revenues and less than 1% of total segment operating income, with the Communications segment providing approximately 97% of segment operating revenues and substantially all of the operating income.

From AT&T's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in AT&T became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 21 October 2026
Revenue
$32.3 billion
+5.3% on the year · +2.4% on the quarter
Q4 FY2024Q3 FY2026
Net income
$891 million
-90.4% on the year · -80.7% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.12
-90.7% on the year · -81.8% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 9 February 2026
Revenue
$125.6 billion
+2.7% on the year
FY2018FY2025
Net income
$22.0 billion
+100.5% on the year
FY2018FY2025
Diluted EPS
$3.04
+104.0% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsAT&T (T) reported revenue of $125.6 billion for fiscal 2025, the year ended 31 December 2025, up 2.7% on the year before. Net income was $22.0 billion and diluted earnings per share $3.04. Revenue was $122.3 billion in fiscal 2024, $122.4 billion in fiscal 2023, $120.7 billion in fiscal 2022 and $134.0 billion in fiscal 2021. Net income in the same years was $10.9 billion, $14.4 billion, a loss of $8.5 billion and $20.1 billion. Over the twelve months to 30 September 2026, AT&T reported revenue of $128.9 billion and net income of $13.1 billion. Revenue fell 2.6% a year, compounded, over the five years to fiscal 2025. AT&T declared $1.11 a share in dividends over the last four quarters and had 6.74 billion shares outstanding at the latest filed count. At 30 September 2026 it carried $159.6 billion of debt and $10.8 billion of cash. At the close of 6 November 2026 the market cap of AT&T was $145.6 billion, 11.7 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE10.7%
ROCE8.4%
Operating margin18.3%
Net margin10.2%
FCF margin14.0%
Interest cover3.2x
Debt to equity1.30x
Cash conversion3.08x
Share count, last 12 months-5.0%
Sales CAGR, 3 years1.3%
Profit CAGR, 3 yearsn/a
EPS, TTM$1.85

At the close of 6 November 2026

Price$21.62
Market cap$145.6 billion
Stock P/E11.7x
Price to book1.2x
EV / EBITDA6.8x
Dividend yield5.1%
Market cap / sales1.1x
52-week high$29.10
52-week low$20.48
Price, 1 year-12.6%
Price CAGR, 3 years10.9%
Price CAGR, 5 years2.4%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of AT&T Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
Tgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021Q1 FY2022 †Q2 FY2022Q3 FY2022Q4 FY2022 †Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue31,09529,71229,64330,04331,34330,13929,91730,35032,02230,02829,79730,21332,29830,62630,84730,70933,46631,50631,55832,322
Cost of revenue19,79512,73512,34112,20113,57112,33111,82716025,80511,95411,44211,63014,19512,03312,15011,81914,81812,56612,04712,442
Gross profit11,30016,97717,30217,84217,77217,80818,09030,1906,21718,07418,35518,58318,10318,59318,69718,89018,64818,94019,51119,880
Gross margin36%57%58%59%57%59%60%99%19%60%62%62%56%61%61%62%56%60%62%62%
SG&A9,9946,9787,2657,2027,5167,1757,0097,2057,4857,0217,0436,9587,3897,1456,9457,4547,3987,3167,2217,435
Operating income4,8945,5374,9566,012-21,0926,0026,4065,7825,2715,8475,7602,1165,3265,7546,5016,1195,7886,6587,0384,095
Operating margin16%19%17%20%-67%20%21%19%16%19%19%7%16%19%21%20%17%21%22%13%
Interest expense1,6631,6261,5021,4201,5601,7081,6081,6621,7261,7241,6991,6751,6611,6581,6551,7001,7911,8131,8831,979
Pre-tax income6,4466,5896,2607,254-23,2155,7676,1654,9802,9364,8695,0911,4305,3085,9916,09810,6534,2655,3985,8222,696
Tax rate16%22%24%13%n/a23%23%23%12%23%22%90%17%22%20%9%3%22%13%52%
Net income5,0434,8104,1576,026-23,5174,2284,4893,4952,1883,4453,597-1744,0804,3514,5009,3143,7883,8294,627891
Net margin16%16%14%20%-75%14%15%12%7%11%12%-1%13%14%15%30%11%12%15%3%
Diluted EPS$0.69$0.65$0.56$0.80-$3.14$0.57$0.61$0.48$0.31$0.47$0.49-$0.03$0.56$0.61$0.62$1.29$0.53$0.54$0.66$0.12
Operating cash flow11,2545,732n/an/an/a6,6789,92210,33611,3787,5479,09310,23511,8969,0499,76310,15211,3207,55710,87010,685
Capital expenditure3,8314,5684,7285,9214,2294,3354,2704,6474,6013,7584,3605,3026,8434,2774,8974,8876,7814,8775,7005,061
Free cash flow7,4231,164n/an/an/a2,3435,6525,6896,7773,7894,7334,9335,0534,7724,8665,2654,5392,6805,1705,624
Buybacks11.01976753.015.01881.01.04.01572.043.013.02189611,4901,8312,4752,1942,803
Dividends paid3,7493,7492,0862,0102,0142,0142,0832,0192,0202,0342,0992,0382,0372,0912,0442,0332,0121,9971,9761,950
Shares outstanding7,130m7,159m7,126m7,127m7,130m7,149m7,149m7,150m7,153m7,170m7,170m7,175m7,178m7,196m7,150m7,089m7,001m6,948m6,852m6,736m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2007 †FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue118,928123,443122,513124,280126,723127,434128,752132,447146,801163,786160,546170,756181,193143,050134,038120,741122,428122,336125,648128,852
Cost of revenue46,80156,68850,63950,25754,90455,21551,46460,611n/an/an/a79,41984,14165,65160,40750,84850,12349,22150,82051,873
Gross profit72,12766,75571,87474,02371,81972,21977,28871,836n/an/an/a91,33797,05277,39973,63169,89372,30573,11574,82876,979
Gross margin60.6%54.1%58.7%59.6%56.7%56.7%60.0%54.2%n/an/an/a53.5%53.6%54.1%54.9%57.9%59.1%59.8%59.6%59.7%
Selling, general and administrative30,14648,77231,40734,98641,31441,07928,41439,69735,70636,84535,46536,76539,42230,81729,66928,96128,87428,41128,94229,370
Operating income20,404-1,69021,00019,5739,21812,99730,75212,21220,36223,54319,97026,09627,9558,37225,897-4,58723,46119,04924,16223,579
Operating margin17.2%-1.4%17.1%15.7%7.3%10.2%23.9%9.2%13.9%14.4%12.4%15.3%15.4%5.9%19.3%-3.8%19.2%15.6%19.2%18.3%
Interest expense3,5073,3693,3682,9943,5353,4443,9403,6134,1204,9106,3007,9578,4227,7276,7166,1086,7046,7596,8047,466
Pre-tax incomen/an/a18,51818,2386,71610,43928,05010,35520,69219,81215,13924,87318,468-35429,171-3,09419,84816,69827,00718,181
Income tax6,252-2,2106,091-1,1622,5322,9009,3283,6197,0056,479-14,7084,9203,4931,1685,3953,7804,2254,4453,6213,462
Effective tax raten/an/a32.9%-6.4%37.7%27.8%33.3%34.9%33.9%32.7%-97.2%19.8%18.9%n/a18.5%n/a21.3%26.6%13.4%19.0%
Net income11,951-2,62512,13819,8643,9447,26418,4186,44213,34512,97629,45019,37013,903-5,17620,081-8,52414,40010,94821,95313,135
Net margin10.0%-2.1%9.9%16.0%3.1%5.7%14.3%4.9%9.1%7.9%18.3%11.3%7.7%-3.6%15.0%-7.1%11.8%8.9%17.5%10.2%
Diluted EPS$1.94-$0.44$2.05$3.35$0.66$1.25$3.42$1.24$2.37$2.10$4.76$2.85$1.89-$0.75$2.76-$1.13$1.97$1.49$3.04$1.85
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2009 to FY2025

FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Communicationsn/an/an/an/an/an/an/a154,232149,457143,721142,359109,965114,730117,067118,038117,652120,89696.2%
Latin America Business Segmentn/an/an/an/an/an/an/a7,2838,2697,6526,9635,7162,7473,1443,9324,2324,3793.5%
Total Corporate and Othern/an/an/an/an/an/an/an/an/an/an/an/a16,5615304584523730.3%
Advertising Solutions4,7243,9353,2931,04900n/an/an/an/an/an/an/an/an/an/an/an/a
Business Solutionsn/an/an/an/an/an/a71,127n/an/an/an/an/an/an/an/an/an/an/a
Consolidations00n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Consumer Mobilityn/an/an/an/an/an/a35,066n/an/an/an/an/an/an/an/an/an/an/a
Entertainment Groupn/an/an/an/an/an/a35,294n/an/an/an/an/an/an/an/an/an/an/a
Internationaln/an/an/an/an/an/a4,102n/an/an/an/an/an/an/an/an/an/an/a
Other6648366n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
WarnerMedian/an/an/an/an/an/an/a41843020,58535,25930,442n/an/an/an/an/an/a
Wireless53,50458,50163,21566,76369,89973,992n/an/an/an/an/an/an/an/an/an/an/an/a
Wireline63,62161,76160,14959,57358,81458,425n/an/an/an/an/an/an/an/an/an/an/an/a
Xandrn/an/an/an/an/an/an/a1,3331,373n/an/an/an/an/an/an/an/an/a
Corporate and eliminationsn/an/an/an/an/an/an/a-1,077n/an/an/an/an/an/an/an/an/an/a
Sales between segments, taken outn/an/an/an/an/an/an/an/an/an/a-3,388-3,073n/an/an/an/an/an/a
Communications FY2016 to FY2025Latin America Business Segment FY2016 to FY2025Total Corporate and Other FY2021 to FY2025WarnerMedia FY2016 to FY2020Xandr FY2016 to FY2017Business Solutions FY2015Entertainment Group FY2015Consumer Mobility FY2015International FY2015Wireless FY2009 to FY2014Wireline FY2009 to FY2014Advertising Solutions FY2009 to FY2012Other FY2009 to FY2011
124.3FY2010128.7FY2013163.3FY2016184.6FY2019120.7FY2022125.6FY2025

$ billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Corporate and eliminations and Sales between segments, taken out are the company's own eliminations and corporate items, which take the parts to revenue: shown as filed, with no share and no block in the chart.

Profit by segment FY2009 to FY2025

The operating profit each segment reports. Costs AT&T does not charge to a segment are left out, so the segments can add up to more than the company's own operating profit.

FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Margin
FY2025
Communicationsn/an/an/an/an/an/an/a32,42931,48832,10829,81528,31326,29326,73627,80127,09527,92723.1%
Latin America Business Segmentn/an/an/an/an/an/an/a-713-353-744-662-753-510-326-141401453.3%
Total Corporate and Othern/an/an/an/an/an/an/an/an/an/an/an/a114-30,997-4,199-8,086-3,910n/a
Advertising Solutions1,331854-2,26817000n/an/an/an/an/an/an/an/an/an/an/an/a
Business Solutionsn/an/an/an/an/an/a16,392n/an/an/an/an/an/an/an/an/an/an/a
Consolidations-215-2,521n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Consumer Mobilityn/an/an/an/an/an/a9,738n/an/an/an/an/an/an/an/an/an/an/a
Entertainment Groupn/an/an/an/an/an/a2,004n/an/an/an/an/an/an/an/an/an/an/a
Internationaln/an/an/an/an/an/a-483n/an/an/an/an/an/an/an/an/an/an/a
Other-2,385-2,088-5,011n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
WarnerMedian/an/an/an/an/an/an/a95916,99510,4988,192n/an/an/an/an/an/a
Wireless13,83015,81815,60416,59417,92317,127n/an/an/an/an/an/an/an/an/an/an/an/a
Wireline8,4397,5107,1737,2436,2695,631n/an/an/an/an/an/an/an/an/an/an/an/a
Xandrn/an/an/an/an/an/an/a1,2331,202n/an/an/an/an/an/an/an/an/a
Communications FY2016 to FY2025Business Solutions FY2015Wireless FY2009 to FY2014Latin America Business Segment FY2016 to FY2025Entertainment Group FY2015Wireline FY2009 to FY2014Advertising Solutions FY2009 to FY2012Consumer Mobility FY2015WarnerMedia FY2016 to FY2020Total Corporate and Other FY2021 to FY2025International FY2015Xandr FY2016 to FY2017Consolidations FY2009 to FY2010Other FY2009 to FY2011
19.6FY201024.2FY201333.0FY201639.7FY2019-4.6FY202224.2FY2025

$ billion; the figure over a bar is all the segments together; a year a segment lost money, it hangs below the line. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
Communications96%99%
Latin America Business Segment3%1%
Total Corporate and Otherunder 1%a loss

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has an operating profit figure. A margin is a segment's operating profit over its own sales.

Revenue by product or service FY2017 to FY2025, 2 years left out

FY2017FY2018FY2020FY2022FY2023FY2024FY2025Share
of the parts, latest year
Wireless Servicen/a56,40257,43562,67465,74468,04170,09955.8%
Other Capitalized Property Plant and Equipmentn/a18,41118,99322,91022,77922,20124,49019.5%
Business Servicen/an/an/a21,89112,86114,36015,97812.7%
Legacy Voice and Datan/a13,7382,7672,06915,48212,61310,3628.2%
IP Broadbandn/an/a8,5349,6694,1883,8213,5422.8%
Other Servicen/a6,890n/a1,5281,3741,3001,1770.9%
Advanced Datan/a20,266n/an/an/an/an/an/a
Advertisingn/a4,4336,416n/an/an/an/an/a
Contentn/a6,541n/an/an/an/an/an/a
Equipment14,949n/a18,993n/an/an/an/an/a
Service145,597n/an/an/an/an/an/an/a
Subscriptionn/a44,075n/an/an/an/an/an/a
Video Servicen/an/a29,901n/an/an/an/an/a
Wireless Service FY2018 to FY2025Other Capitalized Property Plant and Equipment FY2018 to FY2025Business Service FY2022 to FY2025Legacy Voice and Data FY2018 to FY2025IP Broadband FY2020 to FY2025Other Service FY2018 to FY2025Equipment FY2017 to FY2020Video Service FY2020Advertising FY2018 to FY2020Subscription FY2018Advanced Data FY2018Content FY2018Service FY2017
160.5FY2017170.8FY2018143.0FY2020120.7FY2022122.4FY2023122.3FY2024125.6FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region FY2013 to FY2025

FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
United States126,212129,772140,234154,039149,841154,795161,689138,188129,157116,006117,097116,882120,21995.7%
Mexico90942,0462,4722,9133,1003,1982,6512,8243,2103,9934,2864,4283.5%
Asia/Pacific Rimn/an/an/a8178292,2142,7938167475925214623950.3%
Europen/an/an/a1,1221,0644,0736,5361,0229075845044413820.3%
Other2,2222,3402,1401912087959611611521321191161140.1%
Latin American/an/an/an/an/an/an/a2122512171941491100.1%
All other Latin America92991,1572,3482,7433,0553,219n/an/an/an/an/an/an/a
Brazil1361421,2242,7972,9482,7242,797n/an/an/an/an/an/an/a
United StatesMexicoAsia/Pacific Rim FY2016 to FY2025Europe FY2016 to FY2025OtherLatin America FY2020 to FY2025Brazil FY2013 to FY2019All other Latin America FY2013 to FY2019
128.8FY2013146.8FY2015160.5FY2017181.2FY2019134.0FY2021122.4FY2023125.6FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2007 †FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow34,24233,65634,44535,22234,74339,17634,79631,33835,17438,44238,01043,60248,66843,13041,95732,02338,31438,77140,28440,432
Capital expenditure17,71719,63116,55419,53020,11019,46520,94421,19919,21821,51620,64721,25119,63514,69015,54519,62617,85320,26320,84222,419
Free cash flow16,52514,02517,89115,69214,63319,71113,85210,13915,95616,92617,36322,35129,03328,44026,41212,39720,46118,50819,44218,013
Free cash flow margin13.9%11.4%14.6%12.6%11.5%15.5%10.8%7.7%10.9%10.3%10.8%13.1%16.0%19.9%19.7%10.3%16.7%15.1%15.5%14.0%
Cash from investing-18,676-29,143-17,883-21,449-21,250-19,680-23,124-18,337-48,424-23,318-18,943-63,145-16,690-13,548-32,089n/a-19,660-17,490-18,777n/a
Cash from financing-16,014-4,691-14,510-15,848-11,650-17,673-13,201-7,7379,782-14,46225,930-25,989-25,083-32,0071,578n/a-15,614-24,708-6,386n/a
Depreciation and amortisation21,57719,67319,51519,37918,37718,14318,39518,27322,01625,84724,38728,43028,21722,52317,85218,02118,77720,58020,88620,038
Share-based compensationn/an/an/a513489511458318451653480463819422447518479505536n/a
Buybacks10,3906,0770.00.00.012,75213,0281,6172695124636092,4175,4982028901942154,5009,303
Dividends paid8,7439,5079,6709,91610,17210,2419,6969,55210,20011,79712,03813,41014,88814,95615,0689,8598,1368,2088,1807,935
Dividend per sharen/a$1.61$1.65$1.69$1.73$1.77$1.81$1.85$1.89$1.93$1.97$2.01$2.05$2.08$2.08$1.11$1.11$1.11$1.11$1.11
Diluted shares, weightedn/a5,958m5,924m5,938m5,950m5,821m5,385m5,221m5,646m6,189m6,183m6,806m7,348m7,183m7,199m7,587m7,258m7,204m7,179m6,844m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a6,736m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2007 †FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity115,25696,364101,989111,950105,79795,65394,61090,270123,640124,110142,007193,884201,934179,240183,855106,457117,442118,245126,491122,754
Redeemable equityn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a0.01,9731,9802,0012,006
Debtn/a60,87272,04866,16764,75369,84474,78881,834126,151123,513164,346176,505163,147157,245175,631135,890137,331123,532136,100159,627
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/a0.021,80422,20218,95618,65917,56817,39118,94318,520
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/a1,8721,8471,4421,6471,6551,2371,192n/a
Other liabilitiesn/a108,00994,71591,27499,794106,818108,389124,730152,881156,198137,744161,475162,912165,227171,738140,200131,091132,410135,471142,964
Total liabilities and equityn/a265,245268,752269,391270,344272,315277,787296,834402,672403,821444,097531,864551,669525,761551,622402,853407,060394,795420,198445,871
Owned
Fixed assetsn/a98,41599,519103,196107,087109,767110,968112,898124,450124,899125,222131,473130,128n/an/an/an/an/an/an/a
Goodwilln/a71,35272,78273,60170,84269,77369,27369,692104,568105,207105,449146,370146,24192,81292,74067,89567,85463,43263,42563,865
Investmentsn/an/an/an/an/an/an/a1,890n/an/an/an/an/an/an/an/an/an/an/an/a
Securities held for sale or to maturityn/an/a341639n/an/an/an/an/an/a5818701,4441,4791,3801,1321,228689587518
Cash and equivalents1,9051,7273,2771,2013,0454,8683,3398,6035,1215,78850,4985,2049,7027,92419,2233,7016,7223,29818,23410,767
Receivablesn/a16,04714,84513,61013,23112,65712,91814,52716,53216,79416,52226,47222,63620,21512,31311,46610,2899,6388,8437,992
Inventoryn/an/a8851,3031,1881,0361,1481,9334,0332,0392,2252,7712,8643,592n/a3,1232,1772,2702,4202,893
Other assetsn/a77,70477,10375,84174,95174,21480,14187,291147,968149,094143,600218,704238,654399,739425,966315,536318,790315,468326,689359,836
Total assetsn/a265,245268,752269,391270,344272,315277,787296,834402,672403,821444,097531,864551,669525,761551,622402,853407,060394,795420,198445,871
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded-1.5%-2.6%1.3%3.5%
Profit growth, compounded5.1%n/an/a-41.0%
Return on equity, average8.7%8.4%13.0%17.4%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was AT&T's revenue in fiscal 2025?

AT&T (T) reported revenue of $125.6 billion for fiscal 2025, the year ended 31 December 2025, up 2.7% on the year before.

How much did AT&T earn in fiscal 2025?

Net income was $22.0 billion for fiscal 2025, and diluted earnings per share $3.04.

What is AT&T's P/E ratio?

At the close of 6 November 2026, AT&T traded at 11.7 times its earnings over the twelve months to 30 September 2026.

What is AT&T's market cap?

The market cap of AT&T was $145.6 billion at the close of 6 November 2026.

Does AT&T pay a dividend?

Yes. AT&T declared $1.11 a share in dividends over the four quarters to 30 September 2026.

Peers: Communication

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Verizon Communications Inc. VZ$189.4 billion11.6615.3%20.9%1.4%1.556.2%
T-Mobile US, Inc. TMUS$172.1 billion15.6320.1%20.7%9.3%1.492.6%
AT&T Inc. T$145.6 billion11.6910.7%18.3%3.5%1.305.1%
Spotify Technology S.A. SPOT *$124.0 billion51.3726.6%12.8%9.7%0.18n/a
Comcast Corp. CMCSA$86.9 billion7.7212.2%14.7%-0.3%0.945.4%
Lumen Technologies, Inc. LUMN$4.1 billionn/an/a1.3%-9.7%n/an/a
Telephone & Data Systems Inc. TDS$3.6 billion8.0411.0%40.1%-41.2%0.140.5%
IDT Corp. IDT$2.0 billion23.7023.0%9.3%5.4%0.000.3%
Anterix Inc. ATEX$1.5 billion21.2023.0%1,011.3%18.9%0.00n/a
Uniti Group Inc. UNIT$1.2 billion1.92666.9%3.2%n/a65.860.0%
Shenandoah Telecommunications Co. SHEN$533 millionn/a-4.5%-3.9%5.5%0.891.1%
ATN International, Inc. ATNI$433 million2.51n/a38.1%1.4%0.884.0%
All 50 in Communication
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Verizon Communications Inc. VZ$189.4 billion11.6615.3%20.9%1.4%1.556.2%
T-Mobile US, Inc. TMUS$172.1 billion15.6320.1%20.7%9.3%1.492.6%
AT&T Inc. T$145.6 billion11.6910.7%18.3%3.5%1.305.1%
Spotify Technology S.A. SPOT *$124.0 billion51.3726.6%12.8%9.7%0.18n/a
Comcast Corp. CMCSA$86.9 billion7.7212.2%14.7%-0.3%0.945.4%
Chunghwa Telecom Co. Ltd. CHT *$38.7 billion32.6110.1%20.6%2.7%0.073.2%
Vodafone Group Public Limited Company VOD *$36.0 billionn/a-0.8%7.0%8.0%1.043.5%
Fox Corp. FOXA$28.5 billion14.1216.3%n/a9.0%0.530.9%
EchoStar Corp. ECHO$27.5 billion3.4658.4%2.3%-19.8%0.57n/a
Fox Corp. FOX$25.5 billion12.6016.3%n/a9.0%0.531.0%
Roku, Inc. ROKU$23.9 billion47.5016.9%7.8%21.1%0.00n/a
Tencent Music Entertainment Group TME *$15.0 billionn/a13.8%40.6%15.8%0.041.8%
Charter Communications, Inc. CHTR$13.8 billion12.2112.7%10.8%1.0%9.75n/a
AST SpaceMobile, Inc. ASTS$12.6 billionn/a-25.8%n/a2,265.6%1.24n/a
Globalstar, Inc. GSAT$10.9 billionn/a-25.7%3.8%5.9%1.27n/a
Sirius XM Holdings Inc. SIRI$10.9 billion13.077.4%19.0%0.5%0.773.3%
Viasat Inc. VSAT$8.9 billionn/a-2.1%1.7%1.8%1.28n/a
Skydance Corp. SKYD$8.6 billionn/a-3.5%4.7%n/a1.29n/a
Nexstar Media Group, Inc. NXST$5.9 billion17.3015.1%20.6%32.3%4.623.9%
Iridium Communications Inc. IRDM$4.7 billion29.1628.3%19.0%3.6%3.711.4%
Versant Media Group, Inc. VSNT$4.6 billionn/a9.0%17.1%n/a0.36n/a
Lumen Technologies, Inc. LUMN$4.1 billionn/an/a1.3%-9.7%n/an/a
Telephone & Data Systems Inc. TDS$3.6 billion8.0411.0%40.1%-41.2%0.140.5%
Liberty Global Ltd. LBTYA$3.3 billionn/a-25.9%-1.7%17.4%2.14n/a
Array Digital Infrastructure, Inc. AD$2.6 billionn/an/an/an/a0.5076.8%
IDT Corp. IDT$2.0 billion23.7023.0%9.3%5.4%0.000.3%
Calix, Inc. CALX$1.9 billion44.976.6%5.3%22.9%0.000.0%
Adeia Inc. ADEA$1.7 billion15.2024.1%38.4%22.1%0.791.3%
Liberty Latin America Ltd. LILA$1.7 billionn/a-38.8%14.2%0.7%18.94n/a
Ziff Davis, Inc. ZD$1.6 billion2.9329.0%0.9%-14.2%0.41n/a
Anterix Inc. ATEX$1.5 billion21.2023.0%1,011.3%18.9%0.00n/a
Uniti Group Inc. UNIT$1.2 billion1.92666.9%3.2%n/a65.860.0%
Liberty Capital Corp. GLIBA$1.1 billion12.864.4%12.1%n/a0.62n/a
Sinclair, Inc. SBGI$990 million9.9823.4%8.6%1.2%9.84n/a
Newsmax Inc. NMAX$947 millionn/a-5.7%-7.4%11.1%0.00n/a
Entravision Communications Corp. EVC$832 million30.0332.3%7.4%87.0%1.502.2%
Shenandoah Telecommunications Co. SHEN$533 millionn/a-4.5%-3.9%5.5%0.891.1%
Gogo Inc. GOGO$528 millionn/a-1.7%10.4%9.2%6.67n/a
Gray Media, Inc. GTN$506 million16.932.8%17.8%0.7%2.656.5%
ATN International, Inc. ATNI$433 million2.51n/a38.1%1.4%0.884.0%
Spire Global, Inc. SPIR$351 millionn/a-64.8%-146.7%-33.1%0.00n/a
AMC Global Media Inc. AMCX$346 millionn/a-2.2%2.3%-4.6%1.82n/a
E.W. Scripps Co. SSP$282 millionn/a-802.0%-48.4%-8.9%17.23n/a
Spok Holdings, Inc. SPOK$246 million13.2013.0%12.9%-3.3%0.0010.6%
Cogent Communications Holdings, Inc. CCOI$203 millionn/an/a9.2%-4.2%n/a77.0%
TechTarget, Inc. TTGT$191 millionn/a-24.4%-27.6%8.0%0.24n/a
Optimum Communications, Inc. OPTU$123 millionn/an/a-58.7%-4.3%n/a0.0%
KVH Industries Inc. KVHI$117 million215.170.4%-1.8%25.7%0.00n/a
Townsquare Media, Inc. TSQ$31 millionn/an/a0.5%-2.1%n/a43.2%
iHeartMedia, Inc. IHRT$9 millionn/an/a0.2%3.1%n/an/a
8 companies share its SEC industry code (Telephone Communications (No Radiotelephone)); the rest are the names nearest in size in its wider industry, Communication, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on T

Dividends$1.11 a share over the four quarters to 30 September 2026, a 5.13% yield
Filings33 in twelve months: 16 current reports (8-K), about 7 other events; 4 results of operations; 4 officer or director change; 1 new financial obligation; 1 regulation FD disclosure
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.52 by open interest at the 6 November 2026 close; the straddle prices a 3.2% move to 13 November 2026
13F holders2,708 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading0 sales and 0 purchases on Form 4 in twelve months
Congress9 House trades disclosed in six months
Short interest120.6 million shares short, 2.35 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 202621 October 2026EDGAR
10-Q30 June 202622 July 2026EDGAR
10-Q31 March 202627 April 2026EDGAR
10-K31 December 20259 February 2026EDGAR
10-Q30 September 202531 October 2025EDGAR
10-Q30 June 202524 July 2025EDGAR
10-Q31 March 202529 April 2025EDGAR
10-K31 December 202412 February 2025EDGAR
10-Q30 September 202429 October 2024EDGAR
10-Q30 June 202425 July 2024EDGAR

Reading about a stock somewhere else? Our free Chrome extension, GreekSoup Stock Ticker Lookup: Earnings, Insider Trades, 13F Holders, shows the latest quarter against a year ago, insider trades and 13F holders when you hover a $ticker such as $AAPL.