At&T Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
At&T has an operating margin of 23.9%, meaning the company retains $24 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 15.6% the prior year.
At&T's revenue declined 100% year-over-year, from $122.3B to $101K. This contraction results in a growth score of 0/100.
At&T has elevated debt relative to equity (D/E of 74.84), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
At&T's current ratio of 0.91 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 16/100, which could limit financial flexibility.
At&T converts 19.2% of revenue into free cash flow ($19K). This strong cash generation earns a score of 96/100.
At&T earns a strong 1219.6% return on equity (ROE), meaning it generates $1220 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 9.3% the prior year.
At&T scores 288022.72, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($200.8B) relative to total liabilities ($418K). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
At&T passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, At&T generates $1.84 in operating cash flow ($40K OCF vs $22K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
At&T earns $3.6 in operating income for every $1 of interest expense ($24K vs $7K). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
This page shows At&T (T) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
At&T generated $101K in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
At&T's EBITDA was $45K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 100.0% from the prior year.
At&T generated $19K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 100.0% from the prior year.
At&T reported $22K in net income in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
At&T earned $3.04 per diluted share (EPS) in fiscal year 2025. This represents an increase of 104.0% from the prior year.
At&T held $18K in cash against $135K in long-term debt as of fiscal year 2025.
At&T paid $1.11 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
At&T had 7.00B shares outstanding in fiscal year 2025. This represents a decrease of 2.5% from the prior year.
At&T's gross margin was 74.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
At&T's operating margin was 23.9% in fiscal year 2025, reflecting core business profitability. This is up 8.3 percentage points from the prior year.
At&T's net profit margin was 21.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 12.8 percentage points from the prior year.
At&T's ROE was 1219.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1210.4 percentage points from the prior year.
At&T spent $5K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
At&T invested $21K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
T Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $33.5B+9.0% | $30.7B-0.4% | $30.8B+0.7% | $30.6B-5.2% | $32.3B+6.9% | $30.2B+1.4% | $29.8B-0.8% | $30.0B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $7.4B-0.8% | $7.5B+7.3% | $6.9B-2.8% | $7.1B-3.3% | $7.4B+6.2% | $7.0B-1.2% | $7.0B+0.3% | $7.0B |
| Operating Income | $5.8B-5.4% | $6.1B-5.9% | $6.5B+13.0% | $5.8B+8.0% | $5.3B+151.7% | $2.1B-63.3% | $5.8B-1.5% | $5.8B |
| Interest Expense | $1.8B+5.4% | $1.7B+2.7% | $1.7B-0.2% | $1.7B-0.2% | $1.7B-0.8% | $1.7B-1.4% | $1.7B-1.5% | $1.7B |
| Income Tax | $109.0M-88.8% | $976.0M-21.1% | $1.2B-4.8% | $1.3B+44.3% | $900.0M-30.0% | $1.3B+12.5% | $1.1B+2.1% | $1.1B |
| Net Income | $3.8B-59.3% | $9.3B+107.0% | $4.5B+3.4% | $4.4B+6.6% | $4.1B+2444.8% | -$174.0M-104.8% | $3.6B+4.4% | $3.4B |
| EPS (Diluted) | $0.52-59.7% | $1.29+108.1% | $0.62+1.6% | $0.61+8.9% | $0.56+1966.7% | $-0.03-106.1% | $0.49+4.3% | $0.47 |
T Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $420.2B-0.7% | $423.2B+4.4% | $405.5B+2.0% | $397.5B+0.7% | $394.8B+0.3% | $393.7B-1.1% | $398.0B-0.4% | $399.4B |
| Current Assets | $48.7B-10.7% | $54.6B+38.9% | $39.3B+16.4% | $33.8B+8.4% | $31.2B+4.6% | $29.8B-0.2% | $29.9B-1.9% | $30.4B |
| Cash & Equivalents | $18.2B-10.1% | $20.3B+93.1% | $10.5B+52.5% | $6.9B+108.8% | $3.3B+27.5% | $2.6B-16.4% | $3.1B-12.1% | $3.5B |
| Inventory | N/A | $2.9B+22.4% | $2.4B-9.1% | $2.6B+14.2% | $2.3B-10.2% | $2.5B+39.3% | $1.8B-14.6% | $2.1B |
| Accounts Receivable | $8.8B-1.0% | $8.9B+1.0% | $8.8B-4.2% | $9.2B-4.3% | $9.6B+6.3% | $9.1B-6.4% | $9.7B+1.1% | $9.6B |
| Goodwill | $63.4B0.0% | $63.4B0.0% | $63.4B0.0% | $63.4B0.0% | $63.4B0.0% | $63.4B-6.5% | $67.9B0.0% | $67.9B |
| Total Liabilities | $293.7B-0.9% | $296.5B+4.4% | $284.1B+2.3% | $277.6B+0.4% | $276.6B-0.3% | $277.4B-0.4% | $278.7B-0.8% | $280.8B |
| Current Liabilities | $53.8B-0.2% | $53.9B+10.9% | $48.6B+1.2% | $48.0B+2.4% | $46.9B+15.3% | $40.7B-4.2% | $42.4B-5.4% | $44.8B |
| Long-Term Debt | $134.7B+5.2% | $128.1B+4.1% | $123.1B+4.9% | $117.3B-4.0% | $122.1B-3.4% | $126.4B+0.8% | $125.4B-0.3% | $125.7B |
| Total Equity | $126.5B-0.2% | $126.8B+4.4% | $121.4B+1.3% | $119.9B+1.4% | $118.2B+1.7% | $116.3B-2.6% | $119.3B+0.6% | $118.6B |
| Retained Earnings | $15.8B+12.8% | $14.0B+109.2% | $6.7B+58.5% | $4.2B+125.3% | $1.9B+1111.4% | -$185.0M-9350.0% | $2.0M+100.1% | -$1.6B |
T Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $11.3B+11.5% | $10.2B+4.0% | $9.8B+7.9% | $9.0B-23.9% | $11.9B+16.2% | $10.2B+12.6% | $9.1B+20.5% | $7.5B |
| Capital Expenditures | $6.8B+38.8% | $4.9B-0.2% | $4.9B+14.5% | $4.3B-37.5% | $6.8B+29.1% | $5.3B+21.6% | $4.4B+16.0% | $3.8B |
| Free Cash Flow | $4.5B-13.8% | $5.3B+8.2% | $4.9B+2.0% | $4.8B-5.6% | $5.1B+2.4% | $4.9B+4.2% | $4.7B+24.9% | $3.8B |
| Investing Cash Flow | -$4.3B-28.2% | -$3.4B+44.3% | -$6.1B-22.8% | -$5.0B+7.6% | -$5.4B-4.1% | -$5.2B-28.2% | -$4.0B-35.6% | -$3.0B |
| Financing Cash Flow | -$8.8B-393.6% | $3.0B+6742.2% | -$45.0M+91.9% | -$553.0M+90.6% | -$5.9B-5.2% | -$5.6B-1.5% | -$5.5B+29.9% | -$7.8B |
| Dividends Paid | $2.0B-1.0% | $2.0B-0.5% | $2.0B-2.2% | $2.1B+2.7% | $2.0B0.0% | $2.0B-2.9% | $2.1B+3.2% | $2.0B |
| Share Buybacks | $1.8B+22.9% | $1.5B+55.0% | $961.0M+340.8% | $218.0M+1576.9% | $13.0M-69.8% | $43.0M+2050.0% | $2.0M-98.7% | $157.0M |
T Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 17.3%-2.6pp | 19.9%-1.1pp | 21.1%+2.3pp | 18.8%+2.3pp | 16.5%+9.5pp | 7.0%-12.3pp | 19.3%-0.1pp | 19.5% |
| Net Margin | 11.3%-19.0pp | 30.3%+15.7pp | 14.6%+0.4pp | 14.2%+1.6pp | 12.6%+13.2pp | -0.6%-12.7pp | 12.1%+0.6pp | 11.5% |
| Return on Equity | 3.0%-4.4pp | 7.3%+3.6pp | 3.7%+0.1pp | 3.6%+0.2pp | 3.5% | N/A | 3.0%+0.1pp | 2.9% |
| Return on Assets | 0.9%-1.3pp | 2.2%+1.1pp | 1.1%+0.0pp | 1.1%+0.1pp | 1.0%+1.1pp | -0.0%-0.9pp | 0.9%+0.0pp | 0.9% |
| Current Ratio | 0.91-0.1 | 1.01+0.2 | 0.81+0.1 | 0.70+0.0 | 0.67-0.1 | 0.73+0.0 | 0.70+0.0 | 0.68 |
| Debt-to-Equity | 1.06+0.1 | 1.010.0 | 1.01+0.0 | 0.98-0.1 | 1.03-0.1 | 1.09+0.0 | 1.050.0 | 1.06 |
| FCF Margin | 13.6%-3.6pp | 17.1%+1.4pp | 15.8%+0.2pp | 15.6%-0.1pp | 15.6%-0.7pp | 16.3%+0.5pp | 15.9%+3.3pp | 12.6% |
Note: The current ratio is below 1.0 (0.91), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Frequently Asked Questions
What is At&T's annual revenue?
At&T (T) reported $101K in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is At&T's revenue growing?
At&T (T) revenue declined by 100% year-over-year, from $122.3B to $101K in fiscal year 2025.
Is At&T profitable?
Yes, At&T (T) reported a net income of $22K in fiscal year 2025, with a net profit margin of 21.7%.
What is At&T's earnings per share (EPS)?
At&T (T) reported diluted earnings per share of $3.04 for fiscal year 2025. This represents a 104.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is At&T's EBITDA?
At&T (T) had EBITDA of $45K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does At&T have?
As of fiscal year 2025, At&T (T) had $18K in cash and equivalents against $135K in long-term debt.
What is At&T's gross margin?
At&T (T) had a gross margin of 74.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is At&T's operating margin?
At&T (T) had an operating margin of 23.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is At&T's net profit margin?
At&T (T) had a net profit margin of 21.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does At&T pay dividends?
Yes, At&T (T) paid $1.11 per share in dividends during fiscal year 2025.
What is At&T's return on equity (ROE)?
At&T (T) has a return on equity of 1219.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is At&T's free cash flow?
At&T (T) generated $19K in free cash flow during fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is At&T's operating cash flow?
At&T (T) generated $40K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are At&T's total assets?
At&T (T) had $420K in total assets as of fiscal year 2025, including both current and long-term assets.
What are At&T's capital expenditures?
At&T (T) invested $21K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does At&T buy back shares?
Yes, At&T (T) spent $5K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does At&T have outstanding?
At&T (T) had 7.00B shares outstanding as of fiscal year 2025.
What is At&T's current ratio?
At&T (T) had a current ratio of 0.91 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is At&T's debt-to-equity ratio?
At&T (T) had a debt-to-equity ratio of 74.84 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is At&T's return on assets (ROA)?
At&T (T) had a return on assets of 5.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is At&T's Altman Z-Score?
At&T (T) has an Altman Z-Score of 288022.72, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is At&T's Piotroski F-Score?
At&T (T) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are At&T's earnings high quality?
At&T (T) has an earnings quality ratio of 1.84x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can At&T cover its interest payments?
At&T (T) has an interest coverage ratio of 3.6x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is At&T?
At&T (T) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.