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AT&T

T Clue Score52
United States Fiscal year ends December CIK 0000732717
$22.18 -10.82% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $22.18 −14.79% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue163.79Operating income23.54Net income12.98EPS, diluted2.10Fiscal year 2017Revenue160.55 −2.0%Operating income19.97Net income29.45 +127.0%EPS, diluted4.76 +126.7%Fiscal year 2018Revenue170.76 +6.4%Operating income26.10Net income19.37 −34.2%EPS, diluted2.85 −40.1%Fiscal year 2019Revenue181.19 +6.1%Operating income27.96Net income13.90 −28.2%EPS, diluted1.89 −33.7%Fiscal year 2020Revenue143.05 −21.1%Operating income8.37Net income−5.18 −137.2%EPS, diluted−0.75 −139.7%Fiscal year 2021Revenue134.04 −6.3%Operating income25.90Net income20.08EPS, diluted2.73Fiscal year 2022Revenue120.74 −9.9%Operating income−4.59Net income−8.52 −142.4%EPS, diluted−1.13 −141.4%Fiscal year 2023Revenue122.43 +1.4%Operating income23.46Net income14.40EPS, diluted1.97Fiscal year 2024Revenue122.34 −0.1%Operating income19.05Net income10.95 −24.0%EPS, diluted1.49 −24.4%Fiscal year 2025Revenue125.65 +2.7%Operating income24.16Net income21.95 +100.5%EPS, diluted3.04 +104.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 163.79 160.55 170.76 181.19 143.05 134.04 120.74 122.43 122.34 125.65
Growth −2.0% +6.4% +6.1% −21.1% −6.3% −9.9% +1.4% −0.1% +2.7%
Operating income 23.54 19.97 26.10 27.96 8.37 25.90 −4.59 23.46 19.05 24.16
Net income 12.98 29.45 19.37 13.90 −5.18 20.08 −8.52 14.40 10.95 21.95
Growth +127.0% −34.2% −28.2% −137.2% −142.4% −24.0% +100.5%
EPS, diluted 2.10 4.76 2.85 1.89 −0.75 2.73 −1.13 1.97 1.49 3.04
Growth +126.7% −40.1% −33.7% −139.7% −141.4% −24.4% +104.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin14.4%Net margin7.9%Free cash flow margin10.3%Fiscal year 2017Operating margin12.4%Net margin18.3%Free cash flow margin10.8%Fiscal year 2018Operating margin15.3%Net margin11.3%Free cash flow margin13.1%Fiscal year 2019Operating margin15.4%Net margin7.7%Free cash flow margin16.0%Fiscal year 2020Operating margin5.9%Net margin−3.6%Free cash flow margin19.9%Fiscal year 2021Operating margin19.3%Net margin15.0%Free cash flow margin19.7%Fiscal year 2022Operating margin−3.8%Net margin−7.1%Free cash flow margin13.4%Fiscal year 2023Operating margin19.2%Net margin11.8%Free cash flow margin16.7%Fiscal year 2024Operating margin15.6%Net margin8.9%Free cash flow margin15.1%Fiscal year 2025Operating margin19.2%Net margin17.5%Free cash flow margin15.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 14.4% 12.4% 15.3% 15.4% 5.9% 19.3% −3.8% 19.2% 15.6% 19.2%
Net margin 7.9% 18.3% 11.3% 7.7% −3.6% 15.0% −7.1% 11.8% 8.9% 17.5%
Free cash flow margin 10.3% 10.8% 13.1% 16.0% 19.9% 19.7% 13.4% 16.7% 15.1% 15.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow38.44Capital expenditure−21.52Free cash flow16.93Buybacks−0.51Dividends paid−11.80Fiscal year 2017Operating cash flow38.01Capital expenditure−20.65Free cash flow17.36 +2.6%Buybacks−0.46Dividends paid−12.04Fiscal year 2018Operating cash flow43.60Capital expenditure−21.25Free cash flow22.35 +28.7%Buybacks−0.61Dividends paid−13.41Fiscal year 2019Operating cash flow48.67Capital expenditure−19.64Free cash flow29.03 +29.9%Buybacks−2.42Dividends paid−14.89Fiscal year 2020Operating cash flow43.13Capital expenditure−14.69Free cash flow28.44 −2.0%Buybacks−5.50Dividends paid−14.96Fiscal year 2021Operating cash flow41.96Capital expenditure−15.55Free cash flow26.41 −7.1%Buybacks−0.20Dividends paid−15.07Fiscal year 2022Operating cash flow35.81Capital expenditure−19.63Free cash flow16.19 −38.7%Buybacks−0.89Dividends paid−9.86Fiscal year 2023Operating cash flow38.31Capital expenditure−17.85Free cash flow20.46 +26.4%Buybacks−0.19Dividends paid−8.14Fiscal year 2024Operating cash flow38.77Capital expenditure−20.26Free cash flow18.51 −9.5%Buybacks−0.22Dividends paid−8.21Fiscal year 2025Operating cash flow40.28Capital expenditure−20.84Free cash flow19.44 +5.0%Buybacks−4.50Dividends paid−8.18
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 38.44 38.01 43.60 48.67 43.13 41.96 35.81 38.31 38.77 40.28
Capital expenditure −21.52 −20.65 −21.25 −19.64 −14.69 −15.55 −19.63 −17.85 −20.26 −20.84
Free cash flow 16.93 17.36 22.35 29.03 28.44 26.41 16.19 20.46 18.51 19.44
Growth +2.6% +28.7% +29.9% −2.0% −7.1% −38.7% +26.4% −9.5% +5.0%
Buybacks −0.51 −0.46 −0.61 −2.42 −5.50 −0.20 −0.89 −0.19 −0.22 −4.50
Dividends paid −11.80 −12.04 −13.41 −14.89 −14.96 −15.07 −9.86 −8.14 −8.21 −8.18

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash5.79Shareholders’ equity124.11Fiscal year 2017Cash50.50Shareholders’ equity142.01Fiscal year 2018Cash5.20Shareholders’ equity193.88Fiscal year 2019Cash9.70Total debt161.11Net cash (debt)−151.41Shareholders’ equity201.93Debt to equity0.80Fiscal year 2020Cash7.92Total debt155.21Net cash (debt)−147.29Shareholders’ equity179.24Debt to equity0.87Fiscal year 2021Cash19.22Total debt167.48Net cash (debt)−148.25Shareholders’ equity183.86Debt to equity0.91Fiscal year 2022Cash3.70Total debt133.21Net cash (debt)−129.51Shareholders’ equity106.46Debt to equity1.25Fiscal year 2023Cash6.72Total debt133.40Net cash (debt)−126.68Shareholders’ equity117.44Debt to equity1.14Fiscal year 2024Cash3.30Total debt122.12Net cash (debt)−118.82Shareholders’ equity118.25Debt to equity1.03Fiscal year 2025Cash18.23Total debt134.72Net cash (debt)−116.48Shareholders’ equity126.49Debt to equity1.07
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 5.79 50.50 5.20 9.70 7.92 19.22 3.70 6.72 3.30 18.23
Total debt n/a n/a n/a 161.11 155.21 167.48 133.21 133.40 122.12 134.72
Net cash (debt) n/a n/a n/a −151.41 −147.29 −148.25 −129.51 −126.68 −118.82 −116.48
Shareholders’ equity 124.11 142.01 193.88 201.93 179.24 183.86 106.46 117.44 118.25 126.49
Debt to equity n/a n/a n/a 0.80 0.87 0.91 1.25 1.14 1.03 1.07

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
163.79 160.55 170.76 181.19 143.05 134.04 120.74 122.43 122.34 125.65
Growth −2.0% +6.4% +6.1% −21.1% −6.3% −9.9% +1.4% −0.1% +2.7%
36.85 35.47 36.77 39.42 30.82 29.67 28.96 28.87 28.41 28.94
23.54 19.97 26.10 27.96 8.37 25.90 −4.59 23.46 19.05 24.16
Growth −15.2% +30.7% +7.1% −70.1% +209.3% −117.7% −18.8% +26.8%
19.81 15.14 24.87 18.47 −0.35 29.17 −3.09 19.85 16.70 27.01
6.48 −14.71 4.92 3.49 1.17 5.40 3.78 4.23 4.45 3.62
12.98 29.45 19.37 13.90 −5.18 20.08 −8.52 14.40 10.95 21.95
Growth +127.0% −34.2% −28.2% −137.2% −142.4% −24.0% +100.5%
Per share
2.10 4.77 2.85 1.90 −0.75 2.77 −1.13 1.97 1.49 3.04
2.10 4.76 2.85 1.89 −0.75 2.73 −1.13 1.97 1.49 3.04
Growth +126.7% −40.1% −33.7% −139.7% −141.4% −24.4% +104.0%
6,168 6,164 6,778 7,319 7,157 7,168 7,166 7,181 7,199 7,169
6,189 6,183 6,806 7,348 7,466 7,503 7,587 7,258 7,204 7,179
Growth −0.1% +10.1% +8.0% +1.6% +0.5% +1.1% −4.3% −0.7% −0.3%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 2.6% a year over five years.
  • The diluted share count fell 3.8% in five years, so buybacks did some of the work per share.
  • Operating margin is up 13.4 points on five years ago, at 19.2%.
  • A net loss in 2 of 10 years on file.