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T-PC

AT&T Inc.

T-PC

AT&T Inc. • NYSE
$18.97 ▼ -0.68% (-0.13)
Market Cap $136.51 B
52w High $20.67
52w Low $18.20
Dividend Yield 1.19%
P/E 7.98
Volume 239.05K
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 Q3-2024Q4-2024Q1-2025Q3-2025
IP Broadband
IP Broadband
 $2.84Bn ▲$2.91Bn ▲$920.00M ▼$870.00M ▼
Legacy Voice and Data
Legacy Voice and Data
 $370.00M ▲$360.00M ▼$2.81Bn ▲$2.50Bn ▼
Other Service
Other Service
 $320.00M ▲$310.00M ▼$300.00M ▼$290.00M ▼
Wireless Service
Wireless Service
 $17.18Bn ▲$17.20Bn ▲$17.27Bn ▲$17.62Bn ▲
Business Solutions
Business Solutions
 $4.42Bn ▲$0 ▼$0 ▲$0 ▲
Product
Product
 $5.08Bn ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement AT&T’s revenue has stepped down from earlier years as it shed non-core businesses, and has now settled into a more stable, slower‑growing base focused on communications. Profitability from operations looks solid in most years, but reported net income has been choppy, reflecting big one‑time charges and restructuring rather than just day‑to‑day performance. The core telecom business appears reasonably steady, but price competition and ongoing investment needs put pressure on margins, so the quality of earnings matters more than the headline figures in any single year.

Balance Sheet

Balance Sheet The balance sheet shows a smaller, more focused company than a few years ago, with total assets reduced after divestitures. AT&T remains very asset‑intensive because of its networks and spectrum. Debt is still high, even after a noticeable effort to bring it down from peak levels, which keeps leverage and interest costs as key watch points. Shareholders’ equity dropped when the portfolio was reshaped, then leveled off, suggesting a period of stabilization. Cash on hand is modest, so the company relies heavily on its recurring cash flow and continued access to debt markets.

Cash Flow

Cash Flow Cash generation from the underlying business is a major strength. Operating cash flow has been consistently strong, even in years when accounting earnings looked weak. Free cash flow has moved up and down mainly with the investment cycle: when network spending on 5G and fiber rises, free cash flow tightens, and when spending eases, it improves. Even with elevated capital expenditures, the company has generally produced a meaningful surplus after investments, but doing so requires disciplined spending and careful balancing of dividends, debt reduction, and future network needs.

Competitive Edge

Competitive Edge AT&T holds a key position in a highly concentrated U.S. wireless and broadband market, supported by a vast network footprint and a long‑standing, recognizable brand. Its scale, spectrum holdings, and fiber build‑out give it clear advantages in coverage and service breadth, and bundling wireless with home internet helps deepen customer relationships. On the business side, AT&T benefits from deep ties with large enterprises and government clients. However, the moat is not absolute: Verizon and T‑Mobile remain fierce rivals, cable operators are pushing harder into broadband and wireless, and ongoing price pressure and promotional battles can erode margins if not managed carefully.

Innovation and R&D

Innovation and R&D Innovation at AT&T has shifted from classic research lab breakthroughs to large‑scale, applied network technology. The company is heavily focused on advancing 5G and fiber, using tools like software‑defined networking, open‑source platforms, and AI‑driven automation to run its networks more efficiently. Its work on 5G standards, dynamic spectrum sharing, and Open RAN points to an emphasis on flexible, lower‑cost, and more programmable infrastructure. AT&T is also layering services on top of connectivity—such as enhanced mobile features, security tools, and IoT and edge solutions for businesses—aiming to turn technology leadership into differentiated offerings rather than just a commodity pipe.

Summary

Overall, AT&T looks like a mature, capital‑intensive communications utility in the midst of a long transition. The company has trimmed non-core assets, stabilized a leaner revenue base, and continues to generate strong underlying cash flows, even as reported earnings swing with one‑off items. Debt remains substantial and is an important constraint, making steady cash generation and cost control critical. Strategically, the story is centered on expanding fiber, scaling 5G, and using software and AI to operate more efficiently and offer higher‑value services. Future outcomes will depend on how well AT&T monetizes these network investments while holding its ground against aggressive wireless and broadband competitors and managing its leverage in a changing interest‑rate and regulatory environment.