30 years of historical data (1996–2025) · Communication Services · Telecommunications Services
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
AT&T Inc. 5.35% GLB NTS 66 trades at 7.5x earnings, 34% below its 5-year average of 11.3x, sitting at the 29th percentile of its historical range. Compared to the Communication Services sector median P/E of 15.1x, the stock trades at a discount of 51%. On a free-cash-flow basis, the stock trades at 7.2x P/FCF, 39% below the 5-year average of 11.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $139.3B | $159.9B | $175.8B | $170.2B | $164.5B | $195.6B | $198.4B | $196.6B | $151.5B | $161.3B | — |
| Enterprise Value | $276.1B | $296.7B | $313.5B | $318.4B | $315.5B | $372.2B | $368.3B | $369.4B | $322.8B | $275.2B | — |
| P/E Ratio → | 7.46 | 7.33 | 16.38 | 11.90 | — | 9.55 | — | 14.15 | 7.81 | 5.48 | — |
| P/S Ratio | 1.11 | 1.27 | 1.44 | 1.39 | 1.36 | 1.46 | 1.16 | 1.08 | 0.89 | 1.00 | — |
| P/B Ratio | 1.29 | 1.26 | 1.46 | 1.43 | 1.55 | 1.06 | 1.11 | 0.97 | 0.78 | 1.14 | — |
| P/FCF | 7.17 | 8.22 | 9.50 | 8.32 | 13.27 | 19.82 | 7.23 | 6.72 | — | 9.29 | — |
| P/OCF | 3.46 | 3.97 | 4.54 | 4.44 | 5.14 | 4.66 | 4.60 | 4.04 | 3.47 | 4.24 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
AT&T Inc. 5.35% GLB NTS 66's enterprise value stands at 6.1x EBITDA, 42% below its 5-year average of 10.6x. The Communication Services sector median is 7.5x, placing the stock at a 18% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.36 | 2.56 | 2.60 | 2.61 | 2.78 | 2.14 | 2.04 | 1.89 | 1.71 | — |
| EV / EBITDA | 6.13 | 6.59 | 6.99 | 7.31 | 23.48 | 8.51 | 6.79 | 6.30 | 5.79 | 5.75 | — |
| EV / EBIT | 11.43 | 8.77 | 13.37 | 12.00 | 104.67 | 10.38 | 72.87 | 13.75 | 9.85 | 12.85 | — |
| EV / FCF | — | 15.26 | 16.94 | 15.56 | 25.45 | 37.72 | 13.41 | 12.64 | — | 15.85 | — |
Margins and return-on-capital ratios measuring operating efficiency
AT&T Inc. 5.35% GLB NTS 66 earns an operating margin of 19.2%. Operating margins have compressed from 20.2% to 19.2% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 17.7% indicates solid capital efficiency. ROIC of 7.0% represents adequate returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 79.8% | 79.8% | 42.9% | 43.7% | 57.9% | 54.9% | 36.9% | 38.0% | 36.9% | 36.3% | 37.3% |
| Operating Margin | 19.2% | 19.2% | 19.8% | 20.2% | -3.8% | 19.3% | 15.0% | 16.8% | 16.0% | 14.6% | 15.8% |
| Net Profit Margin | 17.4% | 17.4% | 8.9% | 11.8% | -7.1% | 15.0% | -3.0% | 7.7% | 11.3% | 18.3% | 7.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.7% | 17.7% | 9.1% | 12.8% | -5.9% | 11.1% | -2.7% | 7.0% | 11.5% | 22.1% | 10.5% |
| ROA | 5.4% | 5.4% | 2.7% | 3.6% | -1.8% | 3.7% | -1.0% | 2.6% | 4.0% | 6.9% | 3.2% |
| ROIC | 7.0% | 7.0% | 6.9% | 7.1% | -1.1% | 5.5% | 5.3% | 6.2% | 6.6% | 7.1% | 8.0% |
| ROCE | 6.8% | 6.8% | 6.9% | 7.1% | -1.2% | 5.7% | 5.4% | 6.4% | 6.6% | 6.6% | 7.3% |
Solvency and debt-coverage ratios — lower is generally safer
AT&T Inc. 5.35% GLB NTS 66 carries a Debt/EBITDA ratio of 3.4x, which is moderately leveraged (roughly in line with the sector average of 3.5x). Net debt stands at $136.8B ($155.0B total debt minus $18.2B cash). Interest coverage of 3.6x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.23 | 1.23 | 1.17 | 1.30 | 1.45 | 1.07 | 1.00 | 0.92 | 0.91 | 1.16 | 1.00 |
| Debt / EBITDA | 3.44 | 3.44 | 3.14 | 3.56 | 11.51 | 4.48 | 3.31 | 3.16 | 3.17 | 3.43 | 2.39 |
| Net Debt / Equity | — | 1.08 | 1.14 | 1.24 | 1.42 | 0.96 | 0.95 | 0.86 | 0.88 | 0.80 | 0.95 |
| Net Debt / EBITDA | 3.04 | 3.04 | 3.07 | 3.40 | 11.24 | 4.04 | 3.13 | 2.95 | 3.07 | 2.38 | 2.28 |
| Debt / FCF | — | 7.04 | 7.44 | 7.24 | 12.18 | 17.90 | 6.19 | 5.91 | — | 6.56 | 6.60 |
| Interest Coverage | 3.55 | 3.55 | 3.60 | 3.70 | -0.75 | 3.87 | 3.25 | 3.61 | 3.45 | 3.74 | 5.29 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.91x is below 1.0, meaning current liabilities exceed current assets — though the company's $18.2B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.71x to 0.91x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.91 | 0.91 | 0.66 | 0.71 | 0.59 | 1.61 | 0.82 | 0.79 | 0.80 | 0.97 | 0.76 |
| Quick Ratio | 0.86 | 0.86 | 0.62 | 0.67 | 0.53 | 1.58 | 0.76 | 0.79 | 0.80 | 0.97 | 0.76 |
| Cash Ratio | 0.34 | 0.34 | 0.07 | 0.13 | 0.07 | 0.18 | 0.15 | 0.18 | 0.08 | 0.62 | 0.11 |
| Asset Turnover | — | 0.30 | 0.31 | 0.30 | 0.30 | 0.24 | 0.33 | 0.33 | 0.32 | 0.36 | 0.41 |
| Inventory Turnover | 10.51 | 10.51 | 30.75 | 31.65 | 16.28 | 18.17 | 29.35 | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
AT&T Inc. 5.35% GLB NTS 66 returns 8.3% to shareholders annually — split between a 5.0% dividend yield and 3.2% buyback yield. The payout ratio of 37.4% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 13.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.0% | 5.1% | 4.7% | 4.8% | 6.0% | 7.7% | 7.5% | 7.6% | 8.9% | 7.5% | — |
| Payout Ratio | 37.4% | 37.4% | 75.0% | 56.5% | — | 75.0% | — | 107.1% | 69.2% | 40.9% | 90.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 13.4% | 13.7% | 6.1% | 8.4% | — | 10.5% | — | 7.1% | 12.8% | 18.2% | — |
| FCF Yield | 14.0% | 12.2% | 10.5% | 12.0% | 7.5% | 5.0% | 13.8% | 14.9% | — | 10.8% | — |
| Buyback Yield | 3.2% | 2.8% | 0.1% | 0.1% | 0.5% | 0.1% | 2.8% | 1.2% | 0.4% | 0.3% | — |
| Total Shareholder Yield | 8.3% | 7.9% | 4.8% | 4.9% | 6.5% | 7.8% | 10.3% | 8.8% | 9.3% | 7.7% | — |
| Shares Outstanding | — | $7.2B | $7.2B | $7.3B | $7.6B | $7.5B | $7.2B | $7.3B | $6.8B | $6.2B | $6.2B |
Compare TBB with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| TBBYou | $139B | 7.5 | 6.1 | 7.2 | 79.8% | 19.2% | 17.7% | 7.0% | 3.4 |
| VZ | $211B | 12.3 | 8.3 | 10.5 | 45.6% | 21.2% | 16.6% | 8.0% | 4.2 |
| T | $196B | 9.2 | 7.4 | 10.1 | 79.8% | 19.2% | 17.7% | 7.0% | 3.4 |
| AMX | $78B | 17.4 | 6.3 | 11.2 | 42.9% | 21.0% | 18.1% | 11.2% | 2.6 |
| VOD | $36B | -8.1 | 7.3 | 3.5 | 33.4% | -1.1% | -7.0% | -0.3% | 5.5 |
| CHT | $34B | 27.2 | 12.5 | — | 20.6% | 20.6% | 9.9% | 9.2% | — |
| VIV | $27B | 25.8 | 6.7 | 13.2 | 43.9% | 15.5% | 8.0% | 7.8% | 0.9 |
| BCE | $25B | 200.0 | 6.6 | 13.1 | 68.4% | 22.7% | 1.8% | 7.6% | 3.6 |
| TEF | $24B | -65.1 | 5.2 | 4.0 | 69.6% | 5.8% | -0.2% | 2.9% | 4.0 |
| TU | $21B | 26.1 | 9.1 | 12.5 | 33.8% | 11.5% | 6.7% | 3.9% | 4.9 |
| TLK | $21B | 15.0 | 5.3 | 11.1 | 67.9% | 28.7% | 14.8% | 16.1% | 1.0 |
| Communication Services Median | — | 15.1 | 7.5 | 10.5 | 51.2% | -0.7% | 2.4% | 1.7% | 3.5 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonAT&T Inc. 5.35% GLB NTS 66's current P/E ratio is 7.5x. The historical average is 10.4x. This places it at the 29th percentile of its historical range.
AT&T Inc. 5.35% GLB NTS 66's current EV/EBITDA is 6.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.6x.
AT&T Inc. 5.35% GLB NTS 66's return on equity (ROE) is 17.7%. The historical average is 16.7%.
Based on historical data, AT&T Inc. 5.35% GLB NTS 66 is trading at a P/E of 7.5x. This is at the 29th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
AT&T Inc. 5.35% GLB NTS 66's current dividend yield is 5.02% with a payout ratio of 37.4%.
AT&T Inc. 5.35% GLB NTS 66 has 79.8% gross margin and 19.2% operating margin. Operating margin between 10-20% is typical for established companies.
AT&T Inc. 5.35% GLB NTS 66's Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.