TORVANTA
Communication Services · S&P 500 · data as of 2026-10-05

T stock analysis: AT&T

AT&T (T) is an S&P 500 company in Integrated Telecommunication Services.

The model's view of T · subscribers

Where T ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

See plans
What's happening with T · updated 2026-10-05 · from prices and SEC filings

T price performance

T against the S&P 500, one year
-20%+0%+20%S&P 500 +18%T -10%2025-09-292026-10-05
Year to date+1.1%S&P 500 +14.5% · behind by 13.4 pts
1 year-6.2%S&P 500 +17.0% · behind by 23.3 pts
3 years+91.5%S&P 500 +89.3% · ahead by 2.2 pts
5 years+56.5%S&P 500 +91.3% · behind by 34.8 pts

Total returns with dividends reinvested.

T factor grades

Each grade compares T with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

B+ValueP/E 8.0x (sector 17.3x)FCF yield 11.2% (sector 4.6%)
BGrowthRevenue growth +3% (sector +5%)EPS growth +72% (sector -11%)
B-ProfitabilityOperating margin 20.1% (sector 20.0%)ROIC 19.1% (sector 17.5%)
B-Momentum12-month change -6%From 52-wk high -15%

T in plain numbers

T key statistics

SectorCommunication Services
IndustryIntegrated Telecommunication Services
IndexS&P 500
Market value$166.1B
Revenue growth (y/y)+3%
Free-cash-flow yield11.2%
Dividend yield4.6%
Next earnings (expected)2026-10-21
Valuation measures
Market value$166.1B
Enterprise value$157.9B
P/E (trailing)8.0x
Forward P/E (Torvanta estimate)7.7x
PEG (Torvanta estimate)1.88
Price / sales1.3x
Price / book1.3x
EV / revenue1.2x
EV / EBITDA3.4x
Financial highlights
Revenue, last 12 months$127.2B
Net income, last 12 months$21.6B
EPS, last 12 months (GAAP)$3.02
Operating margin20.1%
Net margin16.9%
Return on equity17.4%
Return on invested capital19.1%
Cash$17.6B
Total debt$9.3B
Debt / equity0.07x
Interest cover3.6x
Current ratio0.97x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

T earnings trends

Revenue vs earnings
-$174.0M$8.2B$16.6B$25.1B$33.5BSep 2024 Revenue: $30.2BDec 2024 Revenue: $32.3BMar 2025 Revenue: $30.6BJun 2025 Revenue: $30.8BSep 2025 Revenue: $30.7BDec 2025 Revenue: $33.5BMar 2026 Revenue: $31.5BJun 2026 Revenue: $31.6BSep 2024 Net income: -$174.0MDec 2024 Net income: $4.1BMar 2025 Net income: $4.4BJun 2025 Net income: $4.5BSep 2025 Net income: $9.3BDec 2025 Net income: $3.8BMar 2026 Net income: $3.8BJun 2026 Net income: $4.6BSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: -0.6%Net margin: 12.6%Net margin: 14.2%Net margin: 14.6%Net margin: 30.3%Net margin: 11.3%Net margin: 12.2%Net margin: 14.7%-1%15%30%■ Revenue ■ Net income ━ Net margin
Earnings per share$-0.0$0.3$0.6$1.0$1.3Sep 2024 EPS (GAAP, diluted): $-0.0Dec 2024 EPS (GAAP, diluted): $0.6Mar 2025 EPS (GAAP, diluted): $0.6Jun 2025 EPS (GAAP, diluted): $0.6Sep 2025 EPS (GAAP, diluted): $1.3Dec 2025 EPS (GAAP, diluted): $0.5Mar 2026 EPS (GAAP, diluted): $0.5Jun 2026 EPS (GAAP, diluted): $0.7Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Dec 2025 -5% · Mar 2026 -11% · Jun 2026 +6%

From the company's 10-Q and 10-K filings with the SEC.

AT&T financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$159.0B$129.1B$122.4B$122.3B$125.6B
Net income$20.1B-$8.5B$14.4B$10.9B$22.0B
EPS (GAAP)$2.76$-1.13$1.96$1.49$3.05
Free cash flow$25.4Bn/a$20.5B$18.5B$19.4B

T earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-22$0.66+6%+2%+4.5%
2026-04-22$0.54-11%+3%+2.2%
2026-01-28$0.53-5%+4%+9.5%
2025-10-22$1.29n/a+2%-5.6%
2025-07-23$0.62+27%+4%+0.9%
2025-04-23$0.61+30%+2%-1.6%

About AT&T

HeadquartersDallas, TX
Industry (SEC code)Telephone Communications (No Radiotelephone)
Fiscal year endsDecember 31
Incorporated inDE
Listed onNYSE, NYSE, NYSE, NYSE
FormerlySBC COMMUNICATIONS INC, SOUTHWESTERN BELL CORP

From the company's SEC registration record.

Companies similar to T

CompanyMarket valueP/ERevenue growthOperating margin12-month change
T AT&T$166.1B8.0x+3%20.1%-6%
TMUS T-Mobile US$176.6B17.2x+10%19.8%-27%compare
DIS Walt Disney$178.9B21.4x+5%18.4%-7%compare
VZ Verizon$190.5B11.9x+1%20.5%+12%compare
NFLX Netflix$281.1Bn/a+16%29.7%-41%
WBD Warner Bros Discovery$77.7Bn/a-6%-3.5%+63%
CMCSA Comcast$77.0B7.0x+1%14.7%-23%

All Communication Services stock ratings

Frequently asked questions

Is T stock a buy?

Torvanta does not tell individuals what to buy. Its grades for T are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is T's P/E ratio?

T trades at about 8.0 times its last 12 months of GAAP earnings reported to the SEC, and about 7.7 times Torvanta's own estimate of the next 12 months.

When does T report earnings next?

Based on its filing history, Torvanta expects AT&T to report around 2026-10-21.

Does T pay a dividend?

Yes. Its dividend yield is about 4.6%.

How has T performed against the S&P 500?

Over the past year T returned -6.2%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

See plans Or get the free weekly newsletter

Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

All stock ratings · Stock lists · AI stock research · Model portfolio · Research · Disclaimer