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AT&T INC. T

NYSE · stock · Telephone Communications (No Radiotelephone) · website · IPO 1983-11-21 · LEI

AT&T INC. statistics & valuation

Market cap$157.9B
P / E7.2×
P / S1.3×
P / B1.2×
Dividend yield5.18%
Net margin17.5%
Return on equity17.4%
Net debt$116.5B
Net debt / EBITDA2.6×
Enterprise value USD$274.4B
EV / EBITDA6.1×
Earnings yield EBIT/EV8.8%
Return on capital6.6%
Graham number +43.2%$34.72

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($34.72); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
7.90% 18.30% 11.30% 7.70% -3.60% 15.00% -7.10% 11.80% 8.90% 17.50% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
14.40% 12.40% 15.30% 15.40% 5.90% 19.30% -3.80% 19.20% 15.60% 19.20% 2016201720182019202020212022202320242025
Return on equity (%)
10.50% 20.70% 10.00% 6.90% -2.90% 10.90% -8.00% 12.30% 9.30% 17.40% 2016201720182019202020212022202320242025
Shares outstanding
6.19B 6.18B 6.81B 7.35B 7.47B 7.50B 7.59B 7.26B 7.20B 7.18B 2016201720182019202020212022202320242025
Net debt ($)
$151.41B $147.28B $148.25B $129.51B $126.68B $118.82B $116.48B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
3.20% 6.60% 3.60% 2.50% -1.00% 3.60% -2.10% 3.50% 2.80% 5.20% 2016201720182019202020212022202320242025
Free cash flow margin (%)
10.30% 10.80% 2016201720182019202020212022202320242025
Debt / equity (×)
0.80× 0.87× 0.91× 1.25× 1.14× 1.03× 1.07× 2016201720182019202020212022202320242025
EPS ($)
$2.10 $4.76 $2.85 $1.89 -$0.75 $2.73 -$1.13 $1.97 $1.49 $3.04 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

AT&T INC. trades at about 8× earnings — below its 10-year norm (10-year range 5.9×–20.1×, median 11.5×).

5.9× 20.1×

Shaded band = 10-year range (5.9×–20.1×); dot = today's 8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin19.2%15.6%19.2%-3.8%19.3%5.9%15.4%15.3%12.4%14.4%
Net margin17.5%8.9%11.8%-7.1%15.0%-3.6%7.7%11.3%18.3%7.9%
FCF margin————————10.8%10.3%
Return on assets5.2%2.8%3.5%-2.1%3.6%-1.0%2.5%3.6%6.6%3.2%
Return on equity17.4%9.3%12.3%-8.0%10.9%-2.9%6.9%10.0%20.7%10.5%
Debt / equity1.07×1.03×1.14×1.25×0.91×0.87×0.80×———
Current ratio0.910.660.710.591.610.820.790.800.970.76

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.