Logo

T-PA

AT&T Inc.

T-PA

AT&T Inc. • NYSE
$19.97 ▼ -0.60% (-0.12)
Market Cap $143.71 B
52w High $21.89
52w Low $19.15
Dividend Yield 1.25%
P/E 8.4
Volume 155.09K
Outstanding Shares 7.20B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $30.709B ▼ $7.454B ▲ $9.314B ▲ 30.33% ▲ $1.3 ▲ $17.67B ▲
Q2-2025 $30.847B ▲ $6.896B ▼ $4.5B ▲ 14.588% ▲ $0.62 ▲ $13.015B ▲
Q1-2025 $30.626B ▼ $7.07B ▼ $4.351B ▲ 14.207% ▲ $0.61 ▲ $12.791B ▲
Q4-2024 $32.298B ▲ $7.38B ▲ $4.08B ▲ 12.632% ▲ $0.56 ▲ $12.34B ▲
Q3-2024 $30.213B $6.919B $-174M -0.576% $-0.031 $8.177B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $20.272B ▲ $423.213B ▲ $294.474B ▲ $110.708B ▲
Q2-2025 $10.499B ▲ $405.491B ▲ $282.114B ▲ $105.272B ▲
Q1-2025 $6.885B ▲ $397.467B ▲ $275.628B ▲ $103.744B ▼
Q4-2024 $3.298B ▲ $394.795B ▲ $274.57B ▼ $104.372B ▲
Q3-2024 $2.586B $393.719B $275.459B $102.351B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $9.314B ▲ $10.152B ▲ $-3.389B ▲ $2.989B ▲ $9.772B ▲ $5.265B ▲
Q2-2025 $4.861B ▲ $9.763B ▲ $-6.086B ▼ $-45M ▲ $3.632B ▲ $4.866B ▲
Q1-2025 $4.692B ▲ $9.049B ▼ $-4.958B ▲ $-553M ▲ $3.538B ▲ $4.772B ▼
Q4-2024 $4.408B ▲ $11.896B ▲ $-5.363B ▼ $-5.853B ▼ $680M ▲ $5.053B ▲
Q3-2024 $145M $10.235B $-5.15B $-5.562B $-477M $4.933B

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q1-2025
IP Broadband
IP Broadband
 $2.74Bn ▲$2.84Bn ▲$2.91Bn ▲$920.00M ▼
Legacy Voice and Data
Legacy Voice and Data
 $390.00M ▲$370.00M ▼$360.00M ▼$2.81Bn ▲
Other Service
Other Service
 $330.00M ▲$320.00M ▼$310.00M ▼$300.00M ▼
Wireless Service
Wireless Service
 $16.98Bn ▲$17.18Bn ▲$17.20Bn ▲$17.27Bn ▲
Business Solutions
Business Solutions
 $4.57Bn ▲$4.42Bn ▼$0 ▼$0 ▲
Product
Product
 $4.79Bn ▲$5.08Bn ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement AT&T’s revenue has shrunk from earlier years but has now largely stabilized, suggesting the business has moved through a restructuring phase into a more steady state. Profitability has been bumpy, with years of large accounting charges and losses followed by solid profits, which is common for a company shedding non-core assets and refocusing. Over the last couple of years, operating profit has been consistently healthy relative to sales, showing better discipline on costs and a cleaner business mix. Earnings are positive again but not on a smooth upward path, which points to progress, yet not without remaining volatility and execution risk.

Balance Sheet

Balance Sheet The balance sheet is built around a very large asset base and significant long‑lived network infrastructure, typical for a telecom giant. Debt remains high, but it has been moving down over time, which indicates a gradual effort to simplify and de‑risk the capital structure. Shareholders’ equity is solid but lower than it was at the beginning of the period, reflecting spin‑offs, write‑downs, and returns of capital. Cash on hand is relatively modest compared with the size of the business, so the company relies heavily on ongoing cash generation and access to capital markets, making balance‑sheet discipline and refinancing terms an important area to watch.

Cash Flow

Cash Flow The strongest aspect of the profile is cash generation: the core operations consistently produce substantial cash year after year. The company spends heavily on capital investments, especially on its network and fiber build‑out, but even after this, it has regularly generated meaningful free cash flow. Free cash flow dipped during the restructuring and investment peak, then improved again more recently, suggesting a better balance between growth spending and cash preservation. This pattern supports the view that the business model is cash‑rich, but also that it must keep investing at a high level to stay competitive, which limits flexibility in tougher environments.

Competitive Edge

Competitive Edge AT&T operates as one of a small group of national telecom heavyweights, with scale and network reach that are very difficult for new entrants to replicate. Its vast wireless and fiber infrastructure, long‑standing brand, and large customer base form a real competitive moat, reinforced by sticky services like bundled wireless and broadband. The exclusive FirstNet public‑safety network adds a unique, long‑duration contract that rivals do not have in the same form. That said, the core U.S. wireless and broadband markets are mature and fiercely competitive, with price pressure from both other carriers and cable operators, so growth is more likely to be incremental and hard‑won than explosive.

Innovation and R&D

Innovation and R&D Innovation at AT&T is focused less on flashy consumer products and more on deep network capabilities: 5G expansion, fiber build‑out, and software‑driven, cloud‑like networks. The push into mid‑band 5G, Open RAN, and a much larger fiber footprint aims to improve performance, lower long‑term costs, and support new services such as advanced enterprise connectivity and IoT. The company is also leaning into artificial intelligence, using hundreds of models to optimize network performance, customer support, and internal productivity, and exploring generative AI tools for employees. Emerging areas like IoT platforms, edge computing, and even space‑based connectivity partnerships show that AT&T is trying to stay ahead of the next wave of connectivity demand rather than just defending its legacy business.

Summary

Overall, AT&T today looks like a streamlined, cash‑generating telecom utility with very large scale, rather than a high‑growth media and entertainment conglomerate. Revenues have reset lower but are steadier, profitability has recovered from prior write‑downs, and cash flows remain a key strength, supporting heavy ongoing investment and financial commitments. The balance sheet is still highly leveraged but slowly improving, making debt management and interest costs a continuing area of risk and focus. Competitively, the company benefits from a durable network moat and strong brand but operates in a slow‑growth, capital‑intensive, and intensely competitive market. Future value creation will likely depend on disciplined execution in 5G and fiber, smart use of AI and network software, and careful balancing of investment, debt reduction, and shareholder obligations.