AT&T Inc. 5.35% GLB NTS 66 (TBB) 10-Year Financial Performance & Capital Metrics

TBB • • Utilities

Communication ServicesTelecom ServicesIntegrated Telecom and Media Groups

AboutAT&T, Inc. is a holding company, which engages in the provision of telecommunications media and technology services. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally. The Latin America segment focuses on the entertainment and wireless services outside of the U.S. The company was founded in 1983 and is headquartered in Dallas, TX.Show more

Revenue $125.65B +2.7%
EBITDA $45.05B +0.5%
Net Income $21.89B +99.9%
Free Cash Flow $19.44B +5.0%
EBITDA Margin 35.85% -2.2%
Net Margin 17.42% +94.7%
ROE 17.74% +94.2%
Interest Coverage 3.55 -1.3%
Debt/Equity 1.23 +4.6%
Net Debt/EBITDA 3.04 -1.0%
CapEx / Revenue 16.59% +0.1%
CapEx Coverage 1.93 +1.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Strong interest coverage of 3.6x
✓Healthy dividend yield of 5.0%
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-1.54%

5Y-6.06%

3Y1.34%

TTM2.71%

Profit (Net Income) CAGR

10Y5.07%

5Y-

3Y-

TTM99.94%

EPS CAGR

10Y2.52%

5Y-

3Y-

TTM104.22%

ROCE

10Y Avg5.75%

5Y Avg5.05%

3Y Avg6.9%

Latest6.76%

Peer Comparison

Integrated Telecom and Media Groups

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCEBCE Inc.	24.53B	26.31	200.04	-1.07%	25.87%	27.83%	7.62%	2.21
TIGOMillicom International Cellular S.A.	12.18B	72.89	49.59	2.53%	19.59%	33.11%	9.27%	1.89
KTKT Corporation	11.48B	23.81	36.06	0.55%	3.54%	5.16%	13.01%	0.64
CHTChunghwa Telecom Co., Ltd.	33.54B	43.24	27.21	3.3%	16.43%	9.93%
TUTELUS Corporation	21.45B	13.74	26.12	1.82%	5.43%	6.71%	8.01%	1.90
VIVTelefônica Brasil S.A.	27.02B	16.91	25.83	7.19%	10.36%	8.98%	7.57%	0.30
AMXAmérica Móvil, S.A.B. de C.V.	78.37B	26.02	17.38	1.82%	8.78%	19.26%	8.94%	2.14
TLKPerusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk	21.07B	21.27	15.03	0.5%	14.76%	14.04%	8.98%	0.47

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue+	163.79B	160.55B	170.76B	181.19B	171.76B	134.04B	120.74B	122.43B	122.34B	125.65B
Revenue Growth %	11.57%	-1.98%	6.36%	6.11%	-5.21%	-21.96%	-9.92%	1.4%	-0.08%	2.71%
Cost of Revenue	102.73B	102.2B	107.85B	112.36B	108.44B	60.41B	50.85B	68.9B	69.8B	25.42B
Gross Profit+	61.05B	58.35B	62.96B	68.91B	63.32B	73.63B	69.89B	53.53B	52.53B	100.22B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	5.74%	-4.43%	7.9%	9.45%	-8.1%	16.28%	-5.08%	-23.41%	-1.86%	90.78%
Operating Expenses+	35.18B	34.84B	35.67B	38.53B	37.61B	47.73B	74.48B	28.76B	28.27B	76.06B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	51.72B	47.89B	55.72B	58.59B	54.23B	43.75B	13.43B	43.55B	44.84B	45.05B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	6.16%	-7.4%	16.34%	5.16%	-7.44%	-19.33%	-69.29%	224.14%	2.98%	0.46%
Depreciation & Amortization+	25.85B	24.39B	28.43B	28.22B	28.52B	17.85B	18.02B	18.78B	20.58B	20.89B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	25.87B	23.51B	27.29B	30.38B	25.72B	25.9B	-4.59B	24.77B	24.26B	24.16B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-3.12%	-9.15%	16.09%	11.32%	-15.34%	0.7%	-117.71%	639.96%	-2.05%	-0.41%
Interest Expense+	4.89B	6.28B	7.91B	8.4B	7.91B	6.7B	6.14B	6.69B	6.75B	6.8B
Interest Coverage	5.29x	3.74x	3.45x	3.61x	3.25x	3.87x	-0.75x	3.70x	3.60x	3.55x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K
Pretax Income+	19.81B	15.14B	24.87B	18.47B	-2.86B	29.17B	-3.09B	19.85B	16.7B	27.01B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	6.48B	-14.71B	4.92B	3.49B	965M	5.39B	3.78B	4.22B	4.45B	3.62B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	12.98B	29.45B	19.37B	13.9B	-5.18B	20.08B	-8.52B	14.4B	10.95B	21.89B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-2.77%	126.96%	-34.23%	-28.22%	-137.23%	487.96%	-142.45%	268.93%	-23.97%	99.94%
EPS (Diluted)+	2.10	4.76	2.85	1.89	-0.75	2.73	-1.13	1.97	1.49	3.04
EPS Growth %	-11.39%	126.67%	-40.13%	-33.68%	-139.68%	464%	-141.39%	274.34%	-24.37%	104.03%
EPS (Basic)	2.10	4.77	2.86	1.90	-0.75	2.77	-1.22	1.97	1.49	3.04
Diluted Shares Outstanding	6.19B	6.18B	6.81B	7.35B	7.18B	7.5B	7.59B	7.26B	7.2B	7.18B

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	403.82B	444.1B	531.86B	551.67B	525.76B	551.62B	402.85B	407.06B	394.8B	420.2B
Asset Growth %	0.29%	9.97%	19.76%	3.72%	-4.7%	4.92%	-26.97%	1.04%	-3.01%	6.43%
PP&E (Net)+	124.9B	125.22B	131.47B	154.17B	152.03B	143.47B	149.26B	149.39B	149.78B	154.2B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	38.37B	79.15B	51.43B	54.76B	52.01B	170.77B	33.11B	36.46B	31.17B	48.73B
Cash & Equivalents	5.79B	50.5B	5.2B	12.13B	9.74B	19.22B	3.7B	6.72B	3.3B	18.23B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	0	0	0	0	3.69B	3.33B	3.12B	2.18B	2.27B	2.42B
Other Current Assets	14.23B	10.76B	17.7B	18.36B	0	118.11B	14.82B	17.27B	15.96B	19.23B
Long-Term Investments	1.67B	1.56B	6.25B	3.69B	1.78B	6.17B	3.53B	1.25B	295M	1.11B
Goodwill	105.21B	105.45B	146.37B	146.24B	135.26B	92.74B	67.89B	67.85B	63.43B	63.42B
Intangible Assets	116.86B	114.28B	163.83B	157.62B	146.32B	119.22B	129.45B	132.5B	132.29B	5.25B
Other Assets	16.81B	18.44B	32.52B	35.19B	38.37B	19.25B	19.61B	19.6B	17.83B	147.48B
Total Liabilities	279.71B	302.09B	337.98B	349.74B	346.52B	367.77B	296.4B	287.64B	274.57B	293.71B
Total Debt+	123.51B	164.35B	176.5B	184.95B	179.64B	195.83B	154.68B	154.9B	140.92B	155.04B
Net Debt	117.72B	113.85B	171.3B	172.82B	169.9B	176.61B	150.98B	148.18B	137.63B	136.81B
Long-Term Debt	113.68B	125.97B	166.25B	149.44B	153.78B	151.01B	128.42B	127.85B	118.44B	146.03B
Short-Term Borrowings	9.83B	38.37B	10.26B	11.68B	3.47B	25.86B	7.6B	9.48B	5.09B	9.01B
Capital Lease Obligations	0	0	0	23.84B	22.39B	18.96B	18.66B	17.57B	17.39B	0
Total Current Liabilities+	50.58B	81.39B	64.42B	68.91B	63.44B	106.23B	56.17B	51.13B	46.87B	53.78B
Accounts Payable	22.03B	24.44B	27.02B	29.64B	31.84B	29.51B	31.1B	27.31B	27.43B	0
Accrued Expenses	4.47B	4.95B	5.94B	8.48B	8.15B	4.52B	3.77B	3.88B	4.04B	0
Deferred Revenue	4.52B	4.21B	5.95B	6.12B	6.18B	3.97B	3.92B	3.78B	4.1B	4.27B
Other Current Liabilities	1.64B	1.58B	1.46B	1.53B	1.23B	34.79B	3.84B	631M	570M	40.5B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	55.33B	51.52B	49.45B	48.21B	46.63B	37.8B	36.11B	32.43B	32.92B	35.58B
Total Equity+	124.11B	142.01B	193.88B	201.93B	179.24B	183.85B	106.46B	119.42B	120.22B	126.49B
Equity Growth %	0.38%	14.42%	36.53%	4.15%	-11.24%	2.57%	-42.1%	12.17%	0.68%	5.21%
Shareholders Equity	123.14B	140.86B	184.09B	184.22B	161.67B	166.33B	97.5B	103.3B	104.37B	124.49B
Minority Interest	975M	1.15B	9.79B	17.71B	17.57B	17.52B	8.96B	16.12B	15.85B	2B
Common Stock	6.5B	6.5B	7.62B	7.62B	7.62B	7.62B	7.62B	7.62B	7.62B	7.62B
Additional Paid-in Capital	89.6B	89.56B	125.53B	126.28B	130.18B	130.11B	123.61B	114.52B	109.11B	0
Retained Earnings	34.73B	50.5B	58.75B	57.94B	37.46B	42.35B	-19.41B	-5.01B	1.87B	15.77B
Accumulated OCI	4.96B	7.02B	4.25B	5.47B	4.33B	3.53B	2.77B	2.3B	795M	-860M
Return on Assets (ROA)	3.22%	6.95%	3.97%	2.57%	-0.96%	3.73%	-1.79%	3.56%	2.73%	5.37%
Return on Equity (ROE)	10.48%	22.13%	11.53%	7.02%	-2.72%	11.06%	-5.87%	12.75%	9.14%	17.74%
Debt / Equity	1.00x	1.16x	0.91x	0.92x	1.00x	1.07x	1.45x	1.30x	1.17x	1.23x
Debt / Assets	30.59%	37.01%	33.19%	33.53%	34.17%	35.5%	38.4%	38.05%	35.7%	36.9%
Net Debt / EBITDA	2.28x	2.38x	3.07x	2.95x	3.13x	4.04x	11.24x	3.40x	3.07x	3.04x
Book Value per Share	20.05	22.97	28.49	27.48	24.95	24.5	14.03	16.45	16.69	17.62

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	39.34B	38.01B	43.6B	48.67B	43.13B	41.96B	32.02B	38.31B	38.77B	40.28B
Operating CF Growth %	9.65%	-3.39%	14.71%	11.62%	-11.38%	-2.72%	-23.68%	19.65%	1.19%	3.9%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	12.98B	29.45B	19.37B	13.9B	21.48B	21.48B	-6.87B	14.4B	12.25B	23.39B
Depreciation & Amortization	25.85B	24.39B	28.43B	28.22B	28.52B	17.85B	18.02B	18.78B	20.58B	20.89B
Deferred Taxes	2.95B	-15.27B	4.93B	1.81B	1.68B	7.41B	2.98B	3.04B	1.57B	0
Other Non-Cash Items	2.11B	4.95B	-2.45B	15.85B	4.36B	169M	19.23B	3.87B	6.79B	-2.79B
Working Capital Changes	-5.44B	-5.99B	-7.14B	-11.93B	-13.32B	-4.96B	-1.85B	-1.77B	-2.42B	-1.2B
Capital Expenditures+	-21.52B	-20.65B	-63.15B	-19.43B	-15.68B	-32.09B	-19.63B	-17.85B	-20.26B	-20.84B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-24.21B	-18.94B	-63.15B	-16.69B	-13.55B	-32.09B	-25.8B	-19.66B	-17.49B	-18.78B
Acquisitions	-2.31B	1.18B	-42.21B	2.51B	1.63B	-16.71B	-10B	-2.87B	-380M	-379M
Purchase of Investments	0	0	-185M	-365M	-160M	0	0	0	0	0
Sale of Investments	1000K	1000K	-1000K	1000K	1000K	0	0	0	0	1000K
Other Investing	-386M	522M	502M	165M	160M	1.15B	3.82B	1.06B	3.15B	2.26B
Cash from Financing+	-14.46B	25.93B	-25.99B	-25.08B	-32.01B	1.58B	-23.74B	-15.61B	-24.71B	-6.39B
Dividends Paid	-11.8B	-12.04B	-13.41B	-14.89B	-14.96B	-15.07B	-9.86B	-8.14B	-8.21B	-8.18B
Dividend Payout Ratio %	90.91%	40.88%	69.23%	107.08%	-	75.04%	-	56.5%	74.97%	37.37%
Debt Issuance (Net)	-1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K
Stock Issued	146M	33M	745M	631M	5.95B	96M	28M	3M	15M	21M
Share Repurchases	-512M	-463M	-609M	-2.42B	-5.5B	-202M	-890M	-194M	-215M	-4.5B
Other Financing	-1.62B	1.98B	-3.93B	4.15B	-6.52B	-2.55B	29.94B	-6.19B	-4.03B	-2.23B
Net Change in Cash+	667M	45B	-45.53B	6.89B	-2.42B	11.45B	-17.52B	3.04B	-3.43B	15.12B
Exchange Rate Effect	0	-1000K	0	0	0	0	0	0	0	0
Cash at Beginning	5.12B	5.93B	50.93B	5.4B	12.29B	9.87B	21.32B	3.79B	6.83B	3.41B
Cash at End	5.79B	50.93B	5.4B	12.29B	9.87B	21.32B	3.79B	6.83B	3.41B	18.53B
Free Cash Flow+	17.83B	17.36B	-19.54B	29.23B	27.45B	9.87B	12.4B	20.46B	18.51B	19.44B
FCF Growth %	234.41%	-2.61%	-212.56%	249.58%	-6.08%	-64.06%	25.63%	65.05%	-9.54%	5.05%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	10.48%	22.13%	11.53%	7.02%	-2.72%	11.06%	-5.87%	12.75%	9.14%	17.74%
EBITDA Margin	31.58%	29.83%	32.63%	32.34%	31.57%	32.64%	11.13%	35.57%	36.65%	35.85%
Net Debt / EBITDA	2.28x	2.38x	3.07x	2.95x	3.13x	4.04x	11.24x	3.40x	3.07x	3.04x
Interest Coverage	5.29x	3.74x	3.45x	3.61x	3.25x	3.87x	-0.75x	3.70x	3.60x	3.55x
CapEx / Revenue	13.14%	12.86%	36.98%	10.73%	9.13%	23.94%	16.25%	14.58%	16.56%	16.59%
Dividend Payout Ratio	90.91%	40.88%	69.23%	107.08%	-	75.04%	-	56.5%	74.97%	37.37%
Debt / Equity	1.00x	1.16x	0.91x	0.92x	1.00x	1.07x	1.45x	1.30x	1.17x	1.23x
EPS Growth	-11.39%	126.67%	-40.13%	-33.68%	-139.68%	464%	-141.39%	274.34%	-24.37%	104.03%

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AT&T Inc. 5.35% GLB NTS 66 (TBB) 10-Year Financial Performance & Capital Metrics

TBB • • Utilities

Communication ServicesTelecom ServicesIntegrated Telecom and Media Groups

Revenue $125.65B +2.7%
EBITDA $45.05B +0.5%
Net Income $21.89B +99.9%
Free Cash Flow $19.44B +5.0%
EBITDA Margin 35.85% -2.2%
Net Margin 17.42% +94.7%
ROE 17.74% +94.2%
Interest Coverage 3.55 -1.3%
Debt/Equity 1.23 +4.6%
Net Debt/EBITDA 3.04 -1.0%
CapEx / Revenue 16.59% +0.1%
CapEx Coverage 1.93 +1.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Strong interest coverage of 3.6x
✓Healthy dividend yield of 5.0%
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-1.54%

5Y-6.06%

3Y1.34%

TTM2.71%

Profit (Net Income) CAGR

10Y5.07%

5Y-

3Y-

TTM99.94%

EPS CAGR

10Y2.52%

5Y-

3Y-

TTM104.22%

ROCE

10Y Avg5.75%

5Y Avg5.05%

3Y Avg6.9%

Latest6.76%

Peer Comparison

Integrated Telecom and Media Groups

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCEBCE Inc.	24.53B	26.31	200.04	-1.07%	25.87%	27.83%	7.62%	2.21
TIGOMillicom International Cellular S.A.	12.18B	72.89	49.59	2.53%	19.59%	33.11%	9.27%	1.89
KTKT Corporation	11.48B	23.81	36.06	0.55%	3.54%	5.16%	13.01%	0.64
CHTChunghwa Telecom Co., Ltd.	33.54B	43.24	27.21	3.3%	16.43%	9.93%
TUTELUS Corporation	21.45B	13.74	26.12	1.82%	5.43%	6.71%	8.01%	1.90
VIVTelefônica Brasil S.A.	27.02B	16.91	25.83	7.19%	10.36%	8.98%	7.57%	0.30
AMXAmérica Móvil, S.A.B. de C.V.	78.37B	26.02	17.38	1.82%	8.78%	19.26%	8.94%	2.14
TLKPerusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk	21.07B	21.27	15.03	0.5%	14.76%	14.04%	8.98%	0.47

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue+	163.79B	160.55B	170.76B	181.19B	171.76B	134.04B	120.74B	122.43B	122.34B	125.65B
Revenue Growth %	11.57%	-1.98%	6.36%	6.11%	-5.21%	-21.96%	-9.92%	1.4%	-0.08%	2.71%
Cost of Revenue	102.73B	102.2B	107.85B	112.36B	108.44B	60.41B	50.85B	68.9B	69.8B	25.42B
Gross Profit+	61.05B	58.35B	62.96B	68.91B	63.32B	73.63B	69.89B	53.53B	52.53B	100.22B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	5.74%	-4.43%	7.9%	9.45%	-8.1%	16.28%	-5.08%	-23.41%	-1.86%	90.78%
Operating Expenses+	35.18B	34.84B	35.67B	38.53B	37.61B	47.73B	74.48B	28.76B	28.27B	76.06B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	51.72B	47.89B	55.72B	58.59B	54.23B	43.75B	13.43B	43.55B	44.84B	45.05B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	6.16%	-7.4%	16.34%	5.16%	-7.44%	-19.33%	-69.29%	224.14%	2.98%	0.46%
Depreciation & Amortization+	25.85B	24.39B	28.43B	28.22B	28.52B	17.85B	18.02B	18.78B	20.58B	20.89B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	25.87B	23.51B	27.29B	30.38B	25.72B	25.9B	-4.59B	24.77B	24.26B	24.16B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-3.12%	-9.15%	16.09%	11.32%	-15.34%	0.7%	-117.71%	639.96%	-2.05%	-0.41%
Interest Expense+	4.89B	6.28B	7.91B	8.4B	7.91B	6.7B	6.14B	6.69B	6.75B	6.8B
Interest Coverage	5.29x	3.74x	3.45x	3.61x	3.25x	3.87x	-0.75x	3.70x	3.60x	3.55x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K
Pretax Income+	19.81B	15.14B	24.87B	18.47B	-2.86B	29.17B	-3.09B	19.85B	16.7B	27.01B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	6.48B	-14.71B	4.92B	3.49B	965M	5.39B	3.78B	4.22B	4.45B	3.62B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	12.98B	29.45B	19.37B	13.9B	-5.18B	20.08B	-8.52B	14.4B	10.95B	21.89B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-2.77%	126.96%	-34.23%	-28.22%	-137.23%	487.96%	-142.45%	268.93%	-23.97%	99.94%
EPS (Diluted)+	2.10	4.76	2.85	1.89	-0.75	2.73	-1.13	1.97	1.49	3.04
EPS Growth %	-11.39%	126.67%	-40.13%	-33.68%	-139.68%	464%	-141.39%	274.34%	-24.37%	104.03%
EPS (Basic)	2.10	4.77	2.86	1.90	-0.75	2.77	-1.22	1.97	1.49	3.04
Diluted Shares Outstanding	6.19B	6.18B	6.81B	7.35B	7.18B	7.5B	7.59B	7.26B	7.2B	7.18B

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	403.82B	444.1B	531.86B	551.67B	525.76B	551.62B	402.85B	407.06B	394.8B	420.2B
Asset Growth %	0.29%	9.97%	19.76%	3.72%	-4.7%	4.92%	-26.97%	1.04%	-3.01%	6.43%
PP&E (Net)+	124.9B	125.22B	131.47B	154.17B	152.03B	143.47B	149.26B	149.39B	149.78B	154.2B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	38.37B	79.15B	51.43B	54.76B	52.01B	170.77B	33.11B	36.46B	31.17B	48.73B
Cash & Equivalents	5.79B	50.5B	5.2B	12.13B	9.74B	19.22B	3.7B	6.72B	3.3B	18.23B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	0	0	0	0	3.69B	3.33B	3.12B	2.18B	2.27B	2.42B
Other Current Assets	14.23B	10.76B	17.7B	18.36B	0	118.11B	14.82B	17.27B	15.96B	19.23B
Long-Term Investments	1.67B	1.56B	6.25B	3.69B	1.78B	6.17B	3.53B	1.25B	295M	1.11B
Goodwill	105.21B	105.45B	146.37B	146.24B	135.26B	92.74B	67.89B	67.85B	63.43B	63.42B
Intangible Assets	116.86B	114.28B	163.83B	157.62B	146.32B	119.22B	129.45B	132.5B	132.29B	5.25B
Other Assets	16.81B	18.44B	32.52B	35.19B	38.37B	19.25B	19.61B	19.6B	17.83B	147.48B
Total Liabilities	279.71B	302.09B	337.98B	349.74B	346.52B	367.77B	296.4B	287.64B	274.57B	293.71B
Total Debt+	123.51B	164.35B	176.5B	184.95B	179.64B	195.83B	154.68B	154.9B	140.92B	155.04B
Net Debt	117.72B	113.85B	171.3B	172.82B	169.9B	176.61B	150.98B	148.18B	137.63B	136.81B
Long-Term Debt	113.68B	125.97B	166.25B	149.44B	153.78B	151.01B	128.42B	127.85B	118.44B	146.03B
Short-Term Borrowings	9.83B	38.37B	10.26B	11.68B	3.47B	25.86B	7.6B	9.48B	5.09B	9.01B
Capital Lease Obligations	0	0	0	23.84B	22.39B	18.96B	18.66B	17.57B	17.39B	0
Total Current Liabilities+	50.58B	81.39B	64.42B	68.91B	63.44B	106.23B	56.17B	51.13B	46.87B	53.78B
Accounts Payable	22.03B	24.44B	27.02B	29.64B	31.84B	29.51B	31.1B	27.31B	27.43B	0
Accrued Expenses	4.47B	4.95B	5.94B	8.48B	8.15B	4.52B	3.77B	3.88B	4.04B	0
Deferred Revenue	4.52B	4.21B	5.95B	6.12B	6.18B	3.97B	3.92B	3.78B	4.1B	4.27B
Other Current Liabilities	1.64B	1.58B	1.46B	1.53B	1.23B	34.79B	3.84B	631M	570M	40.5B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	55.33B	51.52B	49.45B	48.21B	46.63B	37.8B	36.11B	32.43B	32.92B	35.58B
Total Equity+	124.11B	142.01B	193.88B	201.93B	179.24B	183.85B	106.46B	119.42B	120.22B	126.49B
Equity Growth %	0.38%	14.42%	36.53%	4.15%	-11.24%	2.57%	-42.1%	12.17%	0.68%	5.21%
Shareholders Equity	123.14B	140.86B	184.09B	184.22B	161.67B	166.33B	97.5B	103.3B	104.37B	124.49B
Minority Interest	975M	1.15B	9.79B	17.71B	17.57B	17.52B	8.96B	16.12B	15.85B	2B
Common Stock	6.5B	6.5B	7.62B	7.62B	7.62B	7.62B	7.62B	7.62B	7.62B	7.62B
Additional Paid-in Capital	89.6B	89.56B	125.53B	126.28B	130.18B	130.11B	123.61B	114.52B	109.11B	0
Retained Earnings	34.73B	50.5B	58.75B	57.94B	37.46B	42.35B	-19.41B	-5.01B	1.87B	15.77B
Accumulated OCI	4.96B	7.02B	4.25B	5.47B	4.33B	3.53B	2.77B	2.3B	795M	-860M
Return on Assets (ROA)	3.22%	6.95%	3.97%	2.57%	-0.96%	3.73%	-1.79%	3.56%	2.73%	5.37%
Return on Equity (ROE)	10.48%	22.13%	11.53%	7.02%	-2.72%	11.06%	-5.87%	12.75%	9.14%	17.74%
Debt / Equity	1.00x	1.16x	0.91x	0.92x	1.00x	1.07x	1.45x	1.30x	1.17x	1.23x
Debt / Assets	30.59%	37.01%	33.19%	33.53%	34.17%	35.5%	38.4%	38.05%	35.7%	36.9%
Net Debt / EBITDA	2.28x	2.38x	3.07x	2.95x	3.13x	4.04x	11.24x	3.40x	3.07x	3.04x
Book Value per Share	20.05	22.97	28.49	27.48	24.95	24.5	14.03	16.45	16.69	17.62

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	39.34B	38.01B	43.6B	48.67B	43.13B	41.96B	32.02B	38.31B	38.77B	40.28B
Operating CF Growth %	9.65%	-3.39%	14.71%	11.62%	-11.38%	-2.72%	-23.68%	19.65%	1.19%	3.9%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	12.98B	29.45B	19.37B	13.9B	21.48B	21.48B	-6.87B	14.4B	12.25B	23.39B
Depreciation & Amortization	25.85B	24.39B	28.43B	28.22B	28.52B	17.85B	18.02B	18.78B	20.58B	20.89B
Deferred Taxes	2.95B	-15.27B	4.93B	1.81B	1.68B	7.41B	2.98B	3.04B	1.57B	0
Other Non-Cash Items	2.11B	4.95B	-2.45B	15.85B	4.36B	169M	19.23B	3.87B	6.79B	-2.79B
Working Capital Changes	-5.44B	-5.99B	-7.14B	-11.93B	-13.32B	-4.96B	-1.85B	-1.77B	-2.42B	-1.2B
Capital Expenditures+	-21.52B	-20.65B	-63.15B	-19.43B	-15.68B	-32.09B	-19.63B	-17.85B	-20.26B	-20.84B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-24.21B	-18.94B	-63.15B	-16.69B	-13.55B	-32.09B	-25.8B	-19.66B	-17.49B	-18.78B
Acquisitions	-2.31B	1.18B	-42.21B	2.51B	1.63B	-16.71B	-10B	-2.87B	-380M	-379M
Purchase of Investments	0	0	-185M	-365M	-160M	0	0	0	0	0
Sale of Investments	1000K	1000K	-1000K	1000K	1000K	0	0	0	0	1000K
Other Investing	-386M	522M	502M	165M	160M	1.15B	3.82B	1.06B	3.15B	2.26B
Cash from Financing+	-14.46B	25.93B	-25.99B	-25.08B	-32.01B	1.58B	-23.74B	-15.61B	-24.71B	-6.39B
Dividends Paid	-11.8B	-12.04B	-13.41B	-14.89B	-14.96B	-15.07B	-9.86B	-8.14B	-8.21B	-8.18B
Dividend Payout Ratio %	90.91%	40.88%	69.23%	107.08%	-	75.04%	-	56.5%	74.97%	37.37%
Debt Issuance (Net)	-1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K
Stock Issued	146M	33M	745M	631M	5.95B	96M	28M	3M	15M	21M
Share Repurchases	-512M	-463M	-609M	-2.42B	-5.5B	-202M	-890M	-194M	-215M	-4.5B
Other Financing	-1.62B	1.98B	-3.93B	4.15B	-6.52B	-2.55B	29.94B	-6.19B	-4.03B	-2.23B
Net Change in Cash+	667M	45B	-45.53B	6.89B	-2.42B	11.45B	-17.52B	3.04B	-3.43B	15.12B
Exchange Rate Effect	0	-1000K	0	0	0	0	0	0	0	0
Cash at Beginning	5.12B	5.93B	50.93B	5.4B	12.29B	9.87B	21.32B	3.79B	6.83B	3.41B
Cash at End	5.79B	50.93B	5.4B	12.29B	9.87B	21.32B	3.79B	6.83B	3.41B	18.53B
Free Cash Flow+	17.83B	17.36B	-19.54B	29.23B	27.45B	9.87B	12.4B	20.46B	18.51B	19.44B
FCF Growth %	234.41%	-2.61%	-212.56%	249.58%	-6.08%	-64.06%	25.63%	65.05%	-9.54%	5.05%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	10.48%	22.13%	11.53%	7.02%	-2.72%	11.06%	-5.87%	12.75%	9.14%	17.74%
EBITDA Margin	31.58%	29.83%	32.63%	32.34%	31.57%	32.64%	11.13%	35.57%	36.65%	35.85%
Net Debt / EBITDA	2.28x	2.38x	3.07x	2.95x	3.13x	4.04x	11.24x	3.40x	3.07x	3.04x
Interest Coverage	5.29x	3.74x	3.45x	3.61x	3.25x	3.87x	-0.75x	3.70x	3.60x	3.55x
CapEx / Revenue	13.14%	12.86%	36.98%	10.73%	9.13%	23.94%	16.25%	14.58%	16.56%	16.59%
Dividend Payout Ratio	90.91%	40.88%	69.23%	107.08%	-	75.04%	-	56.5%	74.97%	37.37%
Debt / Equity	1.00x	1.16x	0.91x	0.92x	1.00x	1.07x	1.45x	1.30x	1.17x	1.23x
EPS Growth	-11.39%	126.67%	-40.13%	-33.68%	-139.68%	464%	-141.39%	274.34%	-24.37%	104.03%

AT&T Inc. 5.35% GLB NTS 66 (TBB) 10-Year Financial Performance & Capital Metrics

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AT&T Inc. 5.35% GLB NTS 66 (TBB) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare TBB vs Peers

vs VZ

vs T

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

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Revenue History

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