Fundamental analysis · SEC EDGAR · TTM through 30/09/2026

Fundamental analysis of AT&T Inc.

T · NYSE · Telecom & media

Fundamental quality

DEMANDING

49

out of 100

AT&T Inc. is a mature, stable business: it earns money solidly (net margin 10.2%) but grows slowly (-1.8% a year). On fundamental quality it scores 49 out of 100, profiling it as a company with demanding fundamentals. Its weakest area is its growth (revenue -1.8%/yr). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.

What the company does

AT&T is one of the largest U.S. telecom operators. After shedding its media ventures, it has returned to its core business: mobile plans and fiber internet for homes and businesses. It's a mature, stable business known for its dividend.

What will shape its future

  • Fierce competition to win mobile customers against Verizon and T-Mobile.
  • The fiber rollout as a growth avenue and the huge investment the network requires.
  • Its high debt and its ability to reduce it while sustaining the dividend.

Breakdown by area

I.Growth
18

EPS growth: -7.8% · Revenue growth: -1.8%

II.Profitability
63

Net margin: 10.2% · ROE: 10.7% · ROIC: 7%

III.Financial health
65

Net debt/EBITDA: 3.41x · FCF: 13.9%

Source: SEC EDGAR · TTM through 30/09/2026

The score combines growth, profitability and financial strength. Here its financial strength weighs in its favor, while its growth drags it down the most.

Versus its sector

Percentile against the other 10 Telecom & media companies in our coverage: how far it beats them on each metric (100 = best in sector).

Growthbeats 10%
Less debtbeats 30%

Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.

Key concepts

What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow

AT&T Inc. strengths

  • Strong free-cash-flow generation (FCF margin of 13.9%): profit turns into real cash.
  • It has turned profitable after years of losses.
  • Solid net margin (10.2%): the business is clearly profitable.
  • Positive free cash flow year after year, a self-funding business.

AT&T Inc. risks and weaknesses

  • Declining revenue (-1.8% annualized).
  • Declining earnings per share (-7.8% annualized).

AT&T Inc. historical evolution

YearRevenueNet incomeFree cash flowNet debt
2020143,050-5,17628,440150,755
2021134,03820,08126,412172,873
2022120,741-8,524—136,973
2023122,42814,40020,461136,157
2024122,33610,94818,508123,907
2025125,64821,95319,442125,495

Between 2020 and 2025, revenue went from $143,050M to $125,648M (-12%) and net income went from -$5,176M to $21,953M (+524%).

Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.

Latest results

Versus the same period a year earlier

Figures for the nine months ended September 30, 2026, versus the nine months ended September 30, 2025 (SEC filings):

  • Revenue+3.5%
  • Net income-48.5%

What changed with the September 30, 2026 results

Compared with the previous close (June 30, 2026), this is what moved in its accounts:

  • Quality score59→49
  • Net margin16.9%→10.2%
  • ROE17.1%→10.7%
  • Net debt/EBITDA2.75×→3.41×

Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.

Dividend

$1.11

per share, yearly

37.3% of earnings

Payout

The dividend yield depends on today's price. Compute it in the analyzer → · See all dividend-paying stocks →

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Is AT&T Inc. cheap or expensive?

That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).

Compute the valuation →

Frequently asked questions

Is AT&T Inc. a good company to invest in?

In terms of business quality, AT&T Inc. scores 49 out of 100 in our analysis, placing it as a company with demanding fundamentals. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.

Is AT&T Inc. a profitable company?

Yes. AT&T Inc. shows a net margin of 10.2% and an ROE of 10.7%, a sign of a profitable business.

Does AT&T Inc. have a lot of debt?

Yes, its leverage is high: net debt is 3.41 times its EBITDA.

Is AT&T Inc. growing?

Its revenue has fallen 1.8% annualized in recent years.

Does AT&T Inc. generate cash?

Yes. It converts about 13.9% of its revenue into free cash flow, and has done so positively year after year.

The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.

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