At&T Inc. (T)
Communication Services · Integrated Telecommunication Services · US stock · S&P 500 component
$23.44
▼ -0.06 (0.26%)
Fair valueUndervalued
$41 +75.7% to fair value
$21fair band $25–$58$62
Day's range
$23.39 – $23.85
52-week range
$19.41 – $28.43
About At&T Inc.
AT&T is a telecommunications company that provides mobile and fixed-line connectivity. It offers wireless service to consumers and businesses, fibre and other broadband internet, and network and voice services for corporate and government clients, mainly in the United States, with a wireless operation in Mexico. Its business is organised into communications and Latin America units, and it has focused on connectivity after separating its media businesses.
Revenue comes mostly from recurring monthly charges for wireless and broadband plans, plus device purchases and business services. Sales were $127.2 billion over the last twelve months, with growth of 1.3% a year over the last three years. The operating margin is 20.1%, and the business earns a profit of 9% on the capital invested in it. Net debt is 2.7 times EBITDA. A dividend is paid, with a yield of 4.7%. On the site's X-Ray Score it receives 48 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $19.41 – $28.43Volume 53,000,200Daily, split-adjusted
Vitals
Market cap$162.8B
52-week range$19.41 – $28.43
Volume (last day)53,000,200
P/E (TTM)7.7
EBIT / EV yield8.4%
Free-cash-flow yield–
Dividend yield4.7%
Revenue (TTM)$127.2B
Net income (TTM)$21.6B
Operating margin20.1%
Return on capital8.9%
Debt incl. leases$144.0B
Cash & securities$17.6B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$41model spread $37 – $45
Undervalued
+75.7% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is High, so the safety margin is 40%.
Multiples use through-the-cycle earnings (0.64x of the last twelve months)
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so the fair value range is widened
Price $23
Undervalued < $25Fair $25 – $58Overvalued > $58
10-year DCF (market-scaled)
$46
Peer multiples
$31
Earnings power floor (not blended)
$12
Fundamentals-adjusted multiple
$46
Growth the price implies
-2.1%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, but the price is low
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Communication Services peers. Open a lens to see the numbers behind it.
Valuation
Strong
74/100
Cheap against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield8.4%
Fair value vs price1.8×
Growth
Weak
26/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)1.3%
Growth consistency70%
Profitability
Weak
46/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital8.9%
Operating margin20.1%
Financial health
Weak
44/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA2.7×
Interest cover3.6×
Dividends
Weak
44/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield4.7%
Dividend growth-6.0%
Quarterly results: last 6 quarters
+2.0%
Mar '25
+3.5%
Jun '25
+1.6%
Sep '25
+3.6%
Dec '25
+2.9%
Mar '26
+2.3%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $31.6B, diluted EPS $0.66.
Compare with peers
VZ Verizon Communications...50Other Integrated Telecommunication Services companies by X-Ray Score.
Fundamentals checklist
● 3 Good · ● 4 Average · ● 4 BadCash quality
Risk models
Altman Z''Average
Piotroski F-ScoreGood
Growth
Revenue growth (3y)Bad
Growth consistencyBad
Balance sheet
Current ratioAverage
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceGood
EBIT / EV yieldGood
Profitability
Return on invested capitalAverage
Operating marginAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 45/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $134.0B | $120.7B | $122.4B | $122.3B | $125.6B |
| Operating income | $25.9B | −$4.6B | $23.5B | $19.0B | $24.2B |
| Net income | $20.1B | −$8.5B | $14.4B | $10.9B | $22.0B |
| Operating cash flow | $42.0B | – | $38.3B | $38.8B | $40.3B |
| Operating margin | 19.3% | -3.8% | 19.2% | 15.6% | 19.2% |
| Free cash flow | $26.4B | – | $20.5B | $18.5B | $19.4B |
| Diluted EPS | $2.73 | $-1.13 | $1.97 | $1.49 | $3.04 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bearish
0 bullish · 4 neutral · 12 bearish
Weekly
Bearish
3 bullish · 1 neutral · 8 bearish
Monthly
Bearish
2 bullish · 1 neutral · 5 bearish
Moving averages (daily)
| SMA 10 | 23.44 | Bearish |
| EMA 10 | 23.47 | Bearish |
| SMA 20 | 24.04 | Bearish |
| EMA 20 | 23.89 | Bearish |
| SMA 50 | 24.68 | Bearish |
| EMA 50 | 24.17 | Bearish |
| SMA 100 | 23.48 | Bearish |
| EMA 100 | 24.14 | Bearish |
| SMA 200 | 24.52 | Bearish |
| EMA 200 | 24.27 | Bearish |
Oscillators (daily)
| RSI (14) | 43.28 | Neutral |
| MACD (12, 26) | -0.47 | Bearish |
| Momentum (12) | -2.85 | Bearish |
| Stochastic %K (14) | 53.04 | Neutral |
| Williams %R (14) | -46.96 | Neutral |
| CCI (20) | -48.97 | Neutral |
Pivot points (classic, last session)
S3 22.81 | S2 23.10 | S1 23.27 | Pivot 23.56 | R1 23.73 | R2 24.02 | R3 24.19 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
1.11 USD
Yield on today's price
4.74%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 9 Oct 2026 | 0.2780 |
| 10 Jul 2026 | 0.2780 |
| 10 Apr 2026 | 0.2780 |
| 12 Jan 2026 | 0.2780 |
| 10 Oct 2025 | 0.2780 |
| 10 Jul 2025 | 0.2780 |
| 10 Apr 2025 | 0.2780 |
| 10 Jan 2025 | 0.2780 |
| 10 Oct 2024 | 0.2780 |
| 10 Jul 2024 | 0.2780 |
| 9 Apr 2024 | 0.2780 |
| 9 Jan 2024 | 0.2780 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
T SEC filings
16 Oct 2026
8-KSEC EDGAR
Director or officer change
9 Sep 2026
8-KSEC EDGAR
Director or officer change
17 Aug 2026
8-KSEC EDGAR
Other events
4 Aug 2026
8-KSEC EDGAR
Other events
28 Jul 2026
8-KSEC EDGAR
Regulation FD disclosure
22 Jul 2026
10-QSEC EDGAR
Quarterly report
22 Jul 2026
8-KSEC EDGAR
Results of operations
16 Jun 2026
8-KSEC EDGAR
Director or officer change
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.