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NEW YORK STOCK EXCHANGE, INC. · Telecommunication · CIK 0000732717
$22.74
+3.79% · live
Updated
$163.23B market value
From AT&T INC.'s FY2025 10-K, filed Feb 9, 2026 · read the filing
AT&T runs telephone and communications networks. It took in $125.65B last year, which makes it a very large company. Of every dollar it sells, about 17 cents is left as profit.
The financial picture is led by profitability, with growth worth watching, while debt remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
A published bankruptcy-risk model places it in its distress range. This is a statistical reading, not a forecast.
Altman Z-Score 0.88
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From AT&T INC.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Profit
$10.95B → $21.95B
Profit margin
8.9% → 17.5%
Earnings per share
$1.53 → $3.06
Cash
$3.30B → $18.23B
Measured against FY2024, from the 10-K filed Feb 9, 2026
Improved: +100.5%
$10.95B to $21.95BCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote live), and what was published around it
T rose 3.79% on the latest quote. The average Communication Services company tracked here moved +5.12%, and the S&P 500 −1.04%. That is 1.3 points below its sector and 4.8 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 2% a year for the next 10 years. Over the last 10 years it grew by about 2% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 17 cents of every dollar of sales as profit, earning $21.95B last year.
Barely. Sales were roughly flat, up 2.7%.
Manageable, but notable. Clearing its debt would take about 3.1 years of cash flow. For every $1 it owes, it owns $1.43 in assets. A bankruptcy-risk model also places it in its distress range.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 37 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 20% of the cash its operations generated. It has paid in each of the last 12 years.
GoodNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it earned $21.95B and generated $40.28B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 9, 2026Filing for FY2025 | FY202410-K · Feb 9, 2026Filing for FY2024 | FY202310-K · Feb 9, 2026Filing for FY2023 | FY202210-K · Feb 13, 2023Filing for FY2022 | FY202110-K · Feb 13, 2023Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $125.65B | $122.34B | $122.43B | $120.74B | $134.04B | +2.7% |
| Selling, general and administrative | $28.94B | $28.41B | $28.87B | $28.96B | $29.67B | +1.9% |
| Operating income | $24.16B | $19.05B | $23.46B | -$4.59B | $25.90B | +26.8% |
| Operating marginOperating income ÷ revenueWhat is this? | 19.2% | 15.6% | 19.2% | -3.8% | 19.3% | +3.7 pts |
| Interest expense | $6.80B | $6.76B | $6.70B | $6.11B | $6.72B | +0.7% |
| Income before tax | $27.01B | $16.70B | $19.85B | -$3.09B | $29.17B | +61.7% |
| Net income | $21.95B | $10.95B | $14.40B | -$8.52B | $20.08B | +100.5% |
| Net marginNet income ÷ revenueWhat is this? | 17.5% | 8.9% | 11.8% | -7.1% | 15.0% | +8.5 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $3.06 | $1.53 | $2.02 | $-1.19 | $2.82 | +99.8% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| TAT&T INC. · this page | 6.0/10 | 6/8 | 2.7% | 17.5% | 7.44x | 2.32x |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Exercised stock options — 38,655 shares
Holds 47,385 shares after this filing.
Had shares withheld to cover taxes — 15,211 shares at $24.24 ($368.7K)
Holds 32,174 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Quarterly report for Q3 FY2026
Revenue +5.3% · Operating margin −7.3 pts · Profit -90.4% — against Q3 FY2025
Read the filingPublished results
Read the filingWrite down why you are following AT&T INC., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 20 subsidiaries named in its 10-K, incorporated across 12 places. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from T's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 9, 2026), reported under the US GAAP taxonomy. View the source filing. Total liabilities were not tagged directly and were calculated as assets minus equity.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 6.0 | 6/8 | 10-K, filed Feb 9, 2026 |
| FY2024 | 3.3 | 6/8 | 10-K, filed Feb 12, 2025 |
| FY2023 | 6.0 | 8/8 | 10-K, filed Feb 23, 2024 |
| FY2022 | 2.0 | 4/8 | 10-K, filed Feb 13, 2023 |
| FY2021 | 4.7 | 5/8 | 10-K, filed Feb 16, 2022 |
| FY2020 | 2.0 | 4/8 | 10-K, filed Feb 25, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
6 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
0.88
In the distress zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Improved: +8.5 pts
8.9% to 17.5%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +99.8%
$1.53 to $3.06Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +452.9%
$3.30B to $18.23BCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +26.8%
$19.05B to $24.16BSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +3.7 pts
15.6% to 19.2%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +5.0%
$18.51B to $19.44BNotable
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Deteriorated: +10.3%
$122.12B to $134.72BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Q3 FY2026 against Q3 FY2025, from the 10-Q filed Oct 21, 2026 — read it.
Deteriorated: -90.4%
$9.31B to $891.0MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −27.6 pts
30.3% to 2.8%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: -90.0%
$1.30 to $0.13Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -46.9%
$20.27B to $10.77BCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: -33.1%
$6.12B to $4.09BSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: −7.3 pts
19.9% to 12.7%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: +17.2%
$128.09B to $150.14BSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +5.3%
$30.71B to $32.32BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: -4.5%
7.16B to 6.83BNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Q3 FY2026 against Q2 FY2026, from the 10-Q filed Oct 21, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Deteriorated: -41.8%
$7.04B to $4.09BCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: -80.7%
$4.63B to $891.0MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −9.6 pts
22.3% to 12.7%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −11.9 pts
14.7% to 2.8%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: -80.5%
$0.67 to $0.13Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -38.7%
$17.57B to $10.77BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: +11.5%
$134.63B to $150.14BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: -1.5%
6.94B to 6.83BNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
4 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between -0% and 4%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 34 analysts covering this company, as of . Their views, not this site's.
Of 34 analysts publishing on this company, 9 say strong buy, 12 say buy, 12 say hold and 1 say sell. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 1.7% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 8.7x — investors pay $8.7 for each $1 of trailing profit.
This company has not reported enough of the required figures to calculate this score.
| 7.3/10 |
| 5/8 |
| 2.5% |
| 12.4% |
| 11.08x |
| 2.82x |
| CMCSACOMCAST CORP | 7.3/10 | 7/8 | -0.0% | 16.2% | 4.22x | 1.81x |
|---|
| Median of peers | 7.3/10 | — | 1.3% | 14.3% | 7.65x | 2.32x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Was granted or awarded shares — 1,836 shares at $24.40 ($44.8K)
Holds 137,835 shares after this filing.
Was granted or awarded shares — 369 shares at $24.40 ($9.0K)
Holds 10,643 shares after this filing.
Was granted or awarded shares — 512 shares at $24.40 ($12.5K)
Holds 184,023 shares after this filing.
Had shares withheld to cover taxes — 9,248 shares at $25.89 ($239.4K)
Holds 162,913 shares after this filing.
Was granted or awarded shares — 145 shares at $24.40 ($3.5K)
Holds 2,693 shares after this filing.
Was granted or awarded shares — 127 shares at $25.89 ($3.3K)
Holds 2,548 shares after this filing.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Had a director or senior officer leave or join
Had a director or senior officer leave or join
Read the filingReported another event
Read the filingReported another event
Read the filingTook on a direct financial obligation · Made a Regulation FD disclosure
Read the filingQuarterly report for Q2 FY2026
Operating margin +1.2 pts · Cash +67.3% · Operating income +8.3% — against Q2 FY2025
Read the filingPublished results
Read the filingHad a director or senior officer leave or join
Read the filingHad a director or senior officer leave or join · Amended its charter or changed its financial year · Held a shareholder vote
Read the filingReported another event
Read the filingQuarterly report for Q1 FY2026
Operating margin +2.3 pts · Free cash flow -43.0% · Cash +73.8% — against Q1 FY2025
Read the filingPublished results
Read the filingReported another event
Read the filingProxy statement for a shareholder meeting
Read the filingReported another event
Read the filingAnnual report for FY2025
Operating margin +3.7 pts · Profit +100.5% · Profit margin +8.5 pts — against FY2024
Read the filingReported another event
Read the filingPublished results
Read the filingSource: Exhibit 21 of the 10-K filed 2026-02-09. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
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