AT&T (T) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 22, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the T SEC filings page.
AT&T (T) reported $127.2B in revenue over the twelve months to Jun 30, 2026, up 2.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
AT&T’s 2025 rebound restored reported profitability, but heavy network investment and near-term liabilities still absorb much of its cash generation.
The earnings rebound was stronger than the cash rebound: net income rose from$10.9B in FY2024 to$22.0B in FY2025, while free cash flow moved only from$18.5B to$19.4B . That gap indicates earnings changed more than underlying cash generation, while capital expenditures of$20.8B consumed just over half of operating cash flow.
The margin pattern is a recovery rather than steady expansion: operating margin moved from
The balance sheet is less strained than in FY2022, but short-term coverage remains tight: the current ratio improved from 0.6x to 0.9x, while debt-to-equity stayed near 1.0x in FY2025. Liabilities of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of AT&T's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
AT&T has an operating margin of 19.2%, meaning the company retains $19 of operating profit per $100 of revenue. This strong profitability earns a score of 72/100, reflecting efficient cost management and pricing power. This is up from 15.6% the prior year.
AT&T's revenue grew a modest 2.7% year-over-year to $125.6B. This slow but positive growth earns a score of 35/100.
AT&T has elevated debt relative to equity (D/E of 1.00), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 27/100, reflecting increased financial risk.
AT&T's current ratio of 0.91 is below the typical benchmark, resulting in a score of 15/100. This tight liquidity could limit financial flexibility if cash inflows slow.
AT&T converts 15.5% of revenue into free cash flow ($19.4B). This strong cash generation earns a score of 79/100.
AT&T's ROE of 17.4% shows moderate profitability relative to equity, earning a score of 50/100. This is up from 9.3% the prior year.
AT&T scores 0.85, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
AT&T passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 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 ($40.3B OCF vs $22.0B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
AT&T earns $3.55 in operating income for every $1 of interest expense ($24.2B vs $6.8B). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
AT&T generated $31.6B in revenue in Q2 2026. This represents an increase of 2.3% from the same quarter a year earlier. Against the prior quarter it is up 0.2%.
AT&T's EBITDA was $12.0B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2.1% from the same quarter a year earlier. Against the prior quarter it is up 3.3%.
AT&T reported $4.6B in net income in Q2 2026. This represents an increase of 2.8% from the same quarter a year earlier. Against the prior quarter it is up 20.8%.
AT&T earned $0.66 per diluted share (EPS) in Q2 2026. This represents an increase of 6.5% from the same quarter a year earlier. Against the prior quarter it is up 22.2%.
Cash & Balance Sheet
AT&T generated $5.1B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 4.8% from the same quarter a year earlier. Against the prior quarter it is up 87.7%.
AT&T held $17.6B in cash against $134.6B in long-term debt as of Q2 2026.
AT&T paid $0.28 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.
Margins & Returns
AT&T's operating margin was 22.3% in Q2 2026, reflecting core business profitability. This is up 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.2 percentage points.
AT&T's net profit margin was 14.7% in Q2 2026, showing the share of revenue converted to profit. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.5 percentage points.
AT&T's ROE was 3.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
Not reported for Q2 2026.
Capital Allocation
AT&T spent $2.2B on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 128.3% from the same quarter a year earlier. Against the prior quarter it is down 11.4%.
AT&T invested $5.7B in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 16.4% from the same quarter a year earlier. Against the prior quarter it is up 16.9%.
Not reported for Q2 2026.
T Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $31.6B+2.3% | $31.5B+2.9% | $33.5B+3.6% | $30.7B+1.6% | $30.8B+3.5% | $30.6B+2.0% | $32.3B+0.9% | $30.2B-0.5% |
| SG&A Expenses | $7.2B+4.0% | $7.3B+2.4% | $7.4B+0.1% | $7.5B+7.1% | $6.9B-1.4% | $7.1B+1.8% | $7.4B | $7.0B-3.4% |
| Operating Income | $7.0B+8.3% | $6.7B+15.7% | $5.8B+8.7% | $6.1B+189.2% | $6.5B+12.9% | $5.8B-1.6% | $5.3B+1.0% | $2.1B-63.4% |
| EBITDA | $12.0B+2.1% | $11.6B+6.2% | $10.9B+2.0% | $11.4B+58.8% | $11.8B+8.5% | $10.9B+0.5% | $10.7B+6.6% | $7.2B-31.3% |
| Interest Expense | $1.9B+13.8% | $1.8B+9.3% | $1.8B+7.8% | $1.7B+1.5% | $1.7B-2.6% | $1.7B-3.8% | $1.7B | $1.7B+0.8% |
| Income Tax | $784.0M-36.6% | $1.2B-9.2% | $109.0M-87.9% | $976.0M-24.0% | $1.2B+8.3% | $1.3B+16.2% | $900.0M | $1.3B+11.4% |
| Net Income | $4.6B+2.8% | $3.8B-12.0% | $3.8B-7.2% | $9.3B+5452.9% | $4.5B+25.1% | $4.4B+26.3% | $4.1B | -$174.0M-105.0% |
| EPS (Basic) | $0.66+6.5% | $0.54-11.5% | $0.53-5.4% | $1.29+4400.0% | $0.62+26.5% | $0.61+29.8% | $0.56+86.7% | -$0.03-106.3% |
| EPS (Diluted) | $0.66+6.5% | $0.54-11.5% | $0.53-5.4% | $1.29+4400.0% | $0.62+26.5% | $0.61+29.8% | $0.56+86.7% | -$0.03-106.3% |
| Diluted Shares (Avg) | 6.95B-3.8% | 7.03B-2.7% | N/A | 7.17B-0.5% | 7.22B+0.3% | 7.22B+0.4% | N/A | 7.21B+0.3% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
T Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $428.4B+5.6% | $421.2B+6.0% | $420.2B+6.4% | $423.2B+7.5% | $405.5B+1.9% | $397.5B-0.5% | $394.8B-3.0% | $393.7B-3.2% |
| Current Assets | $51.8B+31.9% | $46.3B+37.0% | $48.7B+56.4% | $54.6B+83.2% | $39.3B+31.6% | $33.8B+11.0% | $31.2B-14.5% | $29.8B-16.3% |
| Cash & Equivalents | $17.6B+67.3% | $12.0B+73.8% | $18.2B+452.9% | $20.3B+683.9% | $10.5B+239.4% | $6.9B+95.6% | $3.3B-50.9% | $2.6B-65.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $2.4B+0.5% | $2.5B-5.5% | $2.4B+6.6% | $2.9B+14.1% | $2.4B+29.8% | $2.6B+21.9% | $2.3B+4.3% | $2.5B+0.4% |
| Accounts Receivable | $8.5B-3.7% | $8.3B-9.7% | $8.8B-8.2% | $8.9B-1.5% | $8.8B-8.7% | $9.2B-3.6% | $9.6B-6.3% | $9.1B+1.2% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $63.9B+0.7% | $63.8B+0.6% | $63.4B0.0% | $63.4B0.0% | $63.4B-6.5% | $63.4B-6.5% | $63.4B-6.5% | $63.4B-6.5% |
| Total Liabilities | $301.9B+6.3% | $295.6B+6.5% | $293.7B+6.2% | $296.5B+6.9% | $284.1B+1.9% | $277.6B-1.1% | $276.6B-4.5% | $277.4B-3.9% |
| Current Liabilities | $53.4B+9.9% | $50.4B+5.0% | $53.8B+14.7% | $53.9B+32.5% | $48.6B+14.5% | $48.0B+7.1% | $46.9B-8.3% | $40.7B-21.3% |
| Non-Current Liabilities | $248.5B+5.5% | $245.1B+6.8% | $239.9B+4.5% | $242.6B+2.5% | $235.5B-0.3% | $229.6B-2.7% | $229.7B-3.7% | $236.8B-0.2% |
| Long-Term Debt | $134.6B+9.4% | $131.6B+12.2% | $127.1B+7.3% | $128.1B+1.4% | $123.1B-1.8% | $117.3B-6.7% | $118.4B-7.4% | $126.4B-0.3% |
| Total Equity | $126.4B+4.2% | $125.6B+4.8% | $126.5B+7.0% | $126.8B+9.0% | $121.4B+1.7% | $119.9B+1.0% | $118.2B+0.7% | $116.3B-1.3% |
| Retained Earnings | $20.3B+203.8% | $17.6B+318.0% | $15.8B+742.8% | $14.0B+7653.5% | $6.7B+333900.0% | $4.2B+368.5% | $1.9B+137.3% | -$185.0M+97.4% |
T Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $10.8B+10.6% | $7.6B-16.1% | $11.3B-4.8% | $10.2B-0.8% | $9.8B+7.4% | $9.0B+19.9% | $11.9B+4.6% | $10.2B-1.0% |
| Depreciation & Amortization | $5.0B-5.4% | $5.0B-4.3% | $5.1B-4.6% | $5.3B+4.5% | $5.3B+3.5% | $5.2B+2.8% | $5.4B+12.8% | $5.1B+8.1% |
| Capital Expenditures | $5.7B+16.4% | $4.9B+14.0% | $6.8B-0.9% | $4.9B-7.8% | $4.9B+12.3% | $4.3B+13.8% | $6.8B+48.7% | $5.3B+14.1% |
| Free Cash Flow | $5.1B+4.8% | $2.7B-43.0% | $4.5B-10.2% | $5.3B+6.7% | $4.9B+2.8% | $4.8B+25.9% | $5.1B-25.4% | $4.9B-13.3% |
| Investing Cash Flow | N/A | N/A | -$4.3B+19.0% | -$3.4B+34.2% | -$6.1B-51.5% | -$5.0B-67.4% | -$5.4B+8.7% | -$5.2B-13.3% |
| Financing Cash Flow | N/A | N/A | -$8.8B-50.0% | $3.0B+153.7% | -$45.0M+99.2% | -$553.0M+92.9% | -$5.9B+7.5% | -$5.6B+28.3% |
| Dividends Paid | $2.0B-3.3% | $2.0B-4.5% | $2.0B-1.2% | $2.0B-0.2% | $2.0B-2.6% | $2.1B+2.8% | $2.0B+0.8% | $2.0B+0.9% |
| Share Buybacks | $2.2B+128.3% | $2.5B+1035.3% | $1.8B+13984.6% | $1.5B+3365.1% | $961.0M+47950.0% | $218.0M+38.9% | $13.0M+225.0% | $43.0M+4200.0% |
Not reported in any period shown, so not listed: Stock-Based Compensation.
T Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 22.3%+1.2pp | 21.1%+2.3pp | 17.3%+0.8pp | 19.9%+12.9pp | 21.1%+1.7pp | 18.8%-0.7pp | 16.5%0.0pp | 7.0%-12.0pp |
| Net Margin | 14.7%+0.1pp | 12.2%-2.1pp | 11.3%-1.3pp | 30.3%+30.9pp | 14.6%+2.5pp | 14.2%+2.7pp | 12.6% | -0.6%-12.1pp |
| Return on Equity | 3.7%-0.1pp | 3.0%-0.6pp | 3.0%-0.5pp | 7.3%+7.5pp | 3.7%+0.7pp | 3.6%+0.7pp | 3.5% | -0.1%-3.1pp |
| Return on Assets | 1.1%0.0pp | 0.9%-0.2pp | 0.9%-0.1pp | 2.2%+2.2pp | 1.1%+0.2pp | 1.1%+0.2pp | 1.0% | 0.0%-0.9pp |
| Current Ratio | 0.97+0.2x | 0.92+0.2x | 0.91+0.2x | 1.01+0.3x | 0.81+0.1x | 0.700.0x | 0.670.0x | 0.730.0x |
| Debt-to-Equity | 1.06+0.1x | 1.05+0.1x | 1.000.0x | 1.01-0.1x | 1.010.0x | 0.98-0.1x | 1.00-0.1x | 1.090.0x |
| Asset Turnover | 0.070.0x | 0.070.0x | 0.080.0x | 0.070.0x | 0.080.0x | 0.080.0x | 0.080.0x | 0.080.0x |
| FCF Margin | 16.2%+0.4pp | 8.6%-6.9pp | 13.6%-2.1pp | 17.1%+0.8pp | 15.8%-0.1pp | 15.6%+3.0pp | 15.6%-5.5pp | 16.3%-2.4pp |
Not reported in any period shown, so not listed: Gross Margin.
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
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| AT&T T | FY2025 | $125.6B | $22.0B | 17.5% | $156.6B | 46/100 |
| T-Mobile US, Inc. TMUS | FY2025 | $88.3B | $11.0B | 12.4% | $162.9B | 54/100 |
| Verizon Communications Inc. VZ | FY2025 | $138.2B | $17.6B | 12.7% | $177.7B | 39/100 |
| Comcast Corp CMCSA | FY2025 | $123.7B | $20.0B | 16.2% | $73.4B | 52/100 |
| America Movil S.A.B de C.V AMX | FY2025 | $52.5B | $4.9B | 9.3% | $63.9B | 33/100 |
| Charter Comm Inc Del CL A New CHTR | FY2025 | $54.8B | $5.0B | 9.1% | $11.7B | 45/100 |
Where AT&T Ranks
Frequently Asked Questions
What is AT&T's annual revenue?
AT&T (T) reported $125.6B in total revenue for fiscal year 2025. This represents a 2.7% 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 grew by 2.7% year-over-year, from $122.3B to $125.6B in fiscal year 2025.
Is AT&T profitable?
Yes, AT&T (T) reported a net income of $22.0B in fiscal year 2025, with a net profit margin of 17.5%.
What is AT&T's EBITDA?
AT&T (T) had EBITDA of $45.0B 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 $18.2B in cash and equivalents against $127.1B in long-term debt.
What is AT&T's operating margin?
AT&T (T) had an operating margin of 19.2% 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 17.5% 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 17.4% 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 $19.4B in free cash flow during fiscal year 2025. This represents a 5.0% 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 $40.3B 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 $420.2B 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 $20.8B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
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 1.00 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 P/E ratio?
AT&T (T) trades at 7.3x earnings, its market capitalization divided by net income of $21.6B net income, trailing 12 months to June 30, 2026. The market capitalization is $156.6B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is AT&T's price-to-sales ratio?
AT&T (T) trades at 1.2x sales, its market capitalization divided by revenue of $127.2B revenue, trailing 12 months to June 30, 2026. The market capitalization is $156.6B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is AT&T's Altman Z-Score?
AT&T (T) has an Altman Z-Score of 0.85, placing it in the Distress Zone (elevated 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 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 3.55x, 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 46 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.