AT&T INC.
T· NYSE, NYSE, NYSE, NYSE· Telephone Communications (No Radiotelephone)
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 15.5%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- -2.6%
We record prices for the companies we cover; T is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 7.18B
- Revenue
- $125.6B
- Free cash flow
- $19.4B
- Owner earnings
- $18.9B
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 19.2%
- Net
- 17.5%
- Free cash flow
- 15.5%
- Owner earnings
- 15.0%
- Stock pay
- 0.4%
Returns
- ROIC, FY2025
- 8.6%
- ROIC, 5 yr avg
- –
- ROE, FY2025
- 17.4%
- ROE, 5 yr avg
- 8.4%
Growth (CAGR)
- Revenue, 3 yr
- 1.3%
- Revenue, 5 yr
- -2.6%
- Revenue, 9 yr
- -2.9%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- 4.2%
- Free cash flow, 3 yr
- 6.3%
- Free cash flow, 5 yr
- -7.3%
- Free cash flow, 9 yr
- 1.6%
Financial health · FY2025
- Cash and investments
- $18.2B
- Total debt
- $134.7B
- Net debt
- $116.5B
- Debt/Equity
- 1.1x
- Debt/FCF
- 6.9x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- 37.3%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- -0.8%
Financials: ten years from the 10-Ks
Revenue
$125.6B
-2.9% a year over 9 years
FY2016FY2025
Margins
Operating19.2%Net17.5%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$19.4BOwner earnings$18.9B
Free cash flow +1.6% a year
FY2016FY2025
Diluted shares
7.18B
+16.0% over 9 years, net dilution
FY2016FY2025
Return on invested capital
8.6%
FY2025
FY2016FY2025
Net debt (below zero)
-$116.5B
$116.5B more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $163.8B | $160.5B | $170.8B | $181.2B | $143.1B | $134.0B | $120.7B | $122.4B | $122.3B | $125.6B |
| Revenue growth | 11.6% | -2.0% | 6.4% | 6.1% | -21.1% | -6.3% | -9.9% | 1.4% | -0.1% | 2.7% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 14.4% | 12.4% | 15.3% | 15.4% | 5.9% | 19.3% | -3.8% | 19.2% | 15.6% | 19.2% |
| Net income | $13.0B | $29.4B | $19.4B | $13.9B | -$5.2B | $20.1B | -$8.5B | $14.4B | $10.9B | $22.0B |
| Net margin | 7.9% | 18.3% | 11.3% | 7.7% | -3.6% | 15.0% | -7.1% | 11.8% | 8.9% | 17.5% |
| Diluted EPS | $2.10 | $4.76 | $2.85 | $1.89 | $-0.75 | $2.73 | $-1.13 | $1.97 | $1.49 | $3.04 |
| Return on invested capital? | – | – | – | 6.4% | – | 6.2% | – | 7.5% | 5.9% | 8.6% |
| Cash | ||||||||||
| Operating cash flow | $38.4B | $38.0B | $43.6B | $48.7B | $43.1B | $42.0B | $35.8B | $38.3B | $38.8B | $40.3B |
| Capital expenditure | $21.5B | $20.6B | $21.3B | $19.6B | $14.7B | $15.5B | $19.6B | $17.9B | $20.3B | $20.8B |
| Free cash flow | $16.9B | $17.4B | $22.4B | $29.0B | $28.4B | $26.4B | $16.2B | $20.5B | $18.5B | $19.4B |
| Stock-based compensation | $653.0M | $480.0M | $463.0M | $819.0M | $422.0M | $447.0M | $518.0M | $479.0M | $505.0M | $536.0M |
| Owner earnings? | $16.3B | $16.9B | $21.9B | $28.2B | $28.0B | $26.0B | $15.7B | $20.0B | $18.0B | $18.9B |
| Free cash flow per share | $2.73 | $2.81 | $3.28 | $3.95 | $3.81 | $3.52 | $2.13 | $2.82 | $2.57 | $2.71 |
| Capital allocation | ||||||||||
| Dividends paid | $11.8B | $12.0B | $13.4B | $14.9B | $15.0B | $15.1B | $9.9B | $8.1B | $8.2B | $8.2B |
| Share repurchases | $512.0M | $463.0M | $609.0M | $2.4B | $5.5B | $202.0M | $890.0M | $194.0M | $215.0M | $4.5B |
| Diluted shares | 6.19B | 6.18B | 6.81B | 7.35B | 7.47B | 7.50B | 7.59B | 7.26B | 7.20B | 7.18B |
| Share count change? | 9.6% | -0.1% | 10.1% | 8.0% | 1.6% | 0.5% | 1.1% | -4.3% | -0.7% | -0.3% |
| Balance sheet | ||||||||||
| Cash and equivalents | $5.8B | $50.5B | $5.2B | $9.7B | $7.9B | $19.2B | $3.7B | $6.7B | $3.3B | $18.2B |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | – | – | – | $161.1B | $155.2B | $174.1B | $134.1B | $135.5B | $122.1B | $134.7B |
| Net debt | – | – | – | $151.4B | $147.3B | $154.8B | $130.4B | $128.8B | $118.8B | $116.5B |
| Shareholders' equity | $124.1B | $142.0B | $193.9B | $201.9B | $179.2B | $183.9B | $106.5B | $117.4B | $118.2B | $126.5B |
Latest filings
| 2026-10-21 | 10-Q | Quarterly report |
| 2026-10-21 | 8-K | Earnings release |
| 2026-07-22 | 10-Q | Quarterly report |
| 2026-07-22 | 8-K | Earnings release |
| 2026-04-27 | 10-Q | Quarterly report |
| 2026-04-22 | 8-K | Earnings release |
| 2026-03-23 | DEF 14A | Proxy statement |
| 2026-02-09 | 10-K | Annual report |
| 2026-01-28 | 8-K | Earnings release |
| 2025-10-31 | 10-Q | Quarterly report |
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