AT&T sells wireless, broadband, and business connectivity services in the US, plus wireless in Mexico. Revenue comes primarily from monthly subscriber fees. The core business is wireless (~70% of revenue), serving about 74 million postpaid and 17 million prepaid phone customers — making it the third-largest US carrier. It also sells internet and networking services to businesses (~14% of revenue) and home broadband to roughly 15 million residential customers (~11% of revenue). The Mexico wireless operation is large by subscriber count (25 million) but generates minimal revenue. AT&T recently exited its DirecTV satellite TV investment by selling its majority stake to private equity firm TPG.
Employees133,030IPONov 1, 1946SIC4899HQ208 S. Akard Street, Dallas, TX, USA, 75202
to
Financials
Profitability
Metric
Current
Margins
Gross Margin
59.7%
Operating Margin
20.6%
EBITDA Margin
42.2%
Net Margin
16.9%
OCF Margin
31.4%
FCF Margin
13.9%
Returns on Capital
ROE
19.7%
ROA
5.1%
ROIC
6.0%
ROCE
9.1%
ROC (Greenblatt)
21.6%
3Y ROIIC
−459.5%
Consistency
Years Profitable / 10Y
8
Valuation
Metric
Current
Earnings Multiples
P/E (TTM)
7.76
Forward P/E
10.00
P/E ex-NRI
7.73
Shiller P/E (CAPE)
10.10
Cash Flow Multiples
P/FCF
9.39
P/OCF
4.13
P/Owner Earnings
6.23
FCF Yield
10.99%
Enterprise Value Multiples
EV / EBIT
9.83
EV / Forward EBIT
11.10
EV / EBITDA
6.10
EV / Forward EBITDA
6.37
EV / Revenue
2.57
EV / Forward Revenue
2.38
Asset / Sales
P/S
1.29
P/B
1.46
P/Tangible Book
—
Growth-Adjusted
PEG
0.73
Capital Returns
Metric
Current
Dividends
Dividend Yield (TTM)
4.76%
Forward Dividend Yield
4.76%
3Y Dividend Growth
0.0%
Payout Ratio
0.37
5Y Yield on Cost
2.18%
Buybacks & Dilution
3Y Buyback Ratio
1.20%
5Y Share Change
−3.8%
Combined
Shareholder Yield
1.47%
Balance Sheet
Metric
Current
Leverage
Debt / Equity
1.48
Gross Debt / EBITDA
3.03
Cash / Debt
0.11
Equity / Assets
0.26
Coverage
Interest Coverage
3.65
Short-Term Liquidity
Current Ratio
0.97
Quick Ratio
0.93
Cash Ratio
0.33
Composite Scores
Piotroski F-Score
8
Altman Z-Score
0.95
Split History
Date
Split
1998-03-20
2:1
1993-05-26
2:1
1987-05-26
3:1
Ex-date
Amount
Pay date
2026-07-10
$0.2775
2026-08-03
2026-04-10
$0.2775
2026-05-01
2026-01-12
$0.2775
2026-02-02
2025-10-10
$0.2775
2025-11-03
2025-07-10
$0.2775
2025-08-01
2025-04-10
$0.2775
2025-05-01
2025-01-10
$0.2775
2025-02-03
2024-10-10
$0.2775
2024-11-01
2024-07-10
$0.2775
2024-08-01
2024-04-09
$0.2775
2024-05-01
10 of 166
View allDate
Transcript
Type
2026-07-22
Q2 2026 AT&T Inc Earnings Call Transcript
Earnings Call
2026-06-09
AT&T Inc at Mizuho Technology Conference Transcript
Conference Presentations
2026-05-19
AT&T Inc at JPMorgan Global Technology, Media and Communications Conference Transcript
Conference Presentations
2026-04-22
Q1 2026 AT&T Inc Earnings Call Transcript
Earnings Call
2026-03-26
AT&T Inc at New Street Research BCG Connectivity Conference Transcript
Conference Presentations
2026-03-09
AT&T Inc at Deutsche Bank Media, Internet and Telecom Conference Transcript
Conference Presentations
2026-03-03
AT&T Inc at Morgan Stanley Technology, Media & Telecom Conference Transcript
Conference Presentations
2026-02-24
AT&T Inc at Barclays Communications and Content Symposium Transcript
Conference Presentations
2026-01-28
Q4 2025 AT&T Inc Earnings Call Transcript
Earnings Call
2025-12-09
AT&T Inc at UBS Global Media and Communications Conference Transcript
Conference Presentations
10 of 115
5-Step DuPont Analysis
ROE %
19.99%
×
×
Net Margin %
16.94%
×
×
Operating Margin %
20.61%
Operating Income
$26.22B
÷
Revenue
$127.24B
×
Tax Burden
0.8248
Net Income
$21.56B
÷
Pretax Income
$26.14B
×
Interest Burden
0.9968
Pretax Income
$26.14B
÷
Operating Income
$26.22B
×
Asset Turnover
0.31
÷
Revenue
$127.24B
÷
Average Total Assets
$416.93B
Begin Total Assets
$405.49B
End Total Assets
$428.36B
×
Equity Multiplier
3.87
÷
Avg Total Assets
$416.93B
÷
Avg Stockholders Equity
$107.86B
Begin Equity
$105.27B
End Equity
$110.44B
Top institutional holders
Q2 2026| Holder | Shares | % Owned | Chg. shares | |
|---|---|---|---|---|
| BlackRock, Inc. | 559.4M | 7.99% | -1.6M | $11.58B |
| VANGUARD CAPITAL MANAGEMENT LLC | 453.6M | 6.48% | -1.2M | $9.39B |
| STATE STREET CORP | 334.3M | 4.77% | +18.5M | $6.92B |
| Newport Trust Company, LLC | 178.7M | 2.55% | -745.3K | $3.70B |
| GEODE CAPITAL MANAGEMENT, LLC | 177.0M | 2.53% | +2.0M | $3.65B |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 134.3M | 1.92% | +766.5K | $2.78B |
| BANK OF AMERICA CORP /DE/ | 111.6M | 1.59% | -13.6M | $2.31B |
| MORGAN STANLEY | 106.3M | 1.52% | +1.1M | $2.20B |
| JPMORGAN CHASE & CO | 96.9M | 1.38% | -21.3M | $2.11B |
| NORGES BANK | 79.3M | 1.13% | new | $1.64B |
10 of 2,711
View allTop insider holdings
as reported| Insider | Shares held | % Owned | |
|---|---|---|---|
| McElfresh Jeffery S.Officer | 902.2K | 0.0129% | $21.15M |
| Legg Jeremy AlanOfficer | 391.9K | 0.0056% | $9.19M |
| Gillespie Edward WOfficer | 271.5K | 0.0039% | $6.36M |
| Smith Kenny KellynOfficer | 235.9K | 0.0034% | $5.53M |
| Cakaric Darcie M.Officer | 32.2K | 0.0005% | $754.2K |
| Desroches PascalOfficer | — | — | — |
| McAtee David R IIOfficer | — | — | — |
| Arroyo F. ThaddeusOfficer | — | — | — |
8 of 12· 7 withheld
View allRecent insider activity
through Oct 6, 2026| Insider | Action | Shares | Date | |
|---|---|---|---|---|
| Cakaric Darcie M.Officer | Option Exercise (Rule 16b-3 Exempt) | +38.7K | $0 | Oct 6, 2026 |
| Cakaric Darcie M.Officer | Tax Withholding | -15.2K | $368.7K | Oct 6, 2026 |
| Sabrina Sanders SOfficer | Grant/Award (Rule 16b-3(d)) | +145 | $3,527 | Sep 30, 2026 |
| McElfresh Jeffery S.Officer | Grant/Award (Rule 16b-3(d)) | +512 | $12.5K | Sep 30, 2026 |
| Lee Lori MOfficer | Grant/Award (Rule 16b-3(d)) | +369 | $9,000 | Sep 30, 2026 |
| Desroches PascalOfficer | Grant/Award (Rule 16b-3(d)) | +1.8K | $44.8K | Sep 30, 2026 |
| Sabrina Sanders SOfficer | Tax Withholding | -9.2K | $239.4K | Sep 1, 2026 |
| Sabrina Sanders SOfficer | Grant/Award (Rule 16b-3(d)) | +127 | $3,276 | Aug 31, 2026 |
| McElfresh Jeffery S.Officer | Grant/Award (Rule 16b-3(d)) | +483 | $12.5K | Aug 31, 2026 |
| Lee Lori MOfficer | Grant/Award (Rule 16b-3(d)) | +348 | $9,000 | Aug 31, 2026 |
10 of 5,747
View all