gross profit bridgeinconsistent2023-09-30
Withheld: gross profit could not be reconciled with the rest of this filer’s statement.
Revenue
$32.32B
Fiscal year ended 2026-09-30Operating income
$4.10B
Fiscal year ended 2026-09-30Free cash flow
Unavailable
Fiscal year ended 2026-09-30Valuation, from the filing
| Public float | $207.00B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $29.57 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 9.4× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 1.6× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.6× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
9.4× earnings today, against a median of 11.1× across 8 years on record. Below its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $207.00B | 9.4× | |
| 2024-06-30 | $137.00B | 12.5× | |
| 2023-06-30 | $114.00B | 7.9× | |
| 2021-06-30 | $205.00B | 10.2× | |
| 2019-06-30 | $245.00B | 17.6× | |
| 2018-12-31 | $233.00B | 12.0× | |
| 2017-06-30 | $232.00B | 7.9× | |
| 2016-12-31 | $266.00B | 20.5× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Telephone Communications (No Radiotelephone) filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Operating margin | 19.2% | 88th | |
| Net margin | 17.5% | 87th | |
| Current ratio | 0.91x | 31th | |
| Long-term debt / equity | 1.00x | 62th | |
| Effective tax rate | 13.4% | 57th | |
| Revenue YoY growth | 2.7% | 50th |
AT&T INC. (T) reported revenue of $32.32B and net income of $891.00M for the fiscal year ended 2026-09-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from AT&T INC.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Telephone Communications (No Radiotelephone).
Income
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $32.32B | $31.56B | $31.51B | $33.47B | $30.71B | $30.85B | $30.63B | $32.30B | $30.21B | $29.80B |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | $4.10B | $7.04B | $6.66B | $5.79B | $6.12B | $6.50B | $5.75B | $5.33B | $2.12B | $5.76B |
| Net income | $891.00M | $4.63B | $3.83B | $3.79B | $9.31B | $4.50B | $4.35B | $4.08B | -$174.00M | $3.60B |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 6.84B | shares 6.95B | shares 7.03B | Unavailable | shares 7.17B | shares 7.22B | shares 7.22B | Unavailable | shares 7.21B | shares 7.20B |
| Pretax income | $2.70B | $5.82B | $5.40B | $4.26B | $10.65B | $6.10B | $5.99B | $5.31B | $1.43B | $5.09B |
| Income tax expense | $1.39B | $784.00M | $1.18B | $109.00M | $976.00M | $1.24B | $1.30B | $900.00M | $1.28B | $1.14B |
| Diluted EPS | $0.12 | $0.66 | $0.54 | Unavailable | $1.29 | $0.62 | $0.61 | Unavailable | $-0.03 | $0.49 |
| Selling, general & administrative | $7.44B | $7.22B | $7.32B | $7.40B | $7.45B | $6.94B | $7.14B | $7.39B | $6.96B | $7.04B |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $10.77B | $17.57B | $11.96B | $18.23B | $20.27B | $10.50B | $6.88B | $3.30B | $2.59B | $3.09B |
| Total assets | $445.87B | $428.36B | $421.19B | $420.20B | $423.21B | $405.49B | $397.47B | $394.80B | $393.72B | $398.03B |
| Current assets | $52.34B | $51.83B | $46.28B | $48.73B | $54.58B | $39.31B | $33.78B | $31.17B | $29.80B | $29.87B |
| Total liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current liabilities | $60.28B | $53.38B | $50.42B | $53.78B | $53.88B | $48.56B | $48.00B | $46.87B | $40.66B | $42.43B |
| Total equity incl. NCI | $122.75B | $126.43B | $125.62B | $126.49B | $126.76B | $121.39B | $119.86B | $118.24B | $116.28B | $119.35B |
| Temporary (mezzanine) equity | $2.01B | $2.00B | $2.00B | $2.00B | $1.98B | $1.98B | $1.98B | $1.98B | $1.98B | $1.98B |
| Inventory | $2.89B | $2.37B | $2.45B | $2.42B | $2.89B | $2.36B | $2.59B | $2.27B | $2.53B | $1.82B |
| Accounts receivable | $7.99B | $8.52B | $8.34B | $8.84B | $8.94B | $8.84B | $9.23B | $9.64B | $9.07B | $9.69B |
| Goodwill | $63.86B | $63.86B | $63.84B | $63.42B | $63.42B | $63.43B | $63.43B | $63.43B | $63.43B | $67.85B |
| Long-term debt | $150.14B | $134.63B | $131.59B | $127.09B | $128.09B | $123.06B | $117.26B | $118.44B | $126.38B | $125.36B |
| Accounts payable | Unavailable | Unavailable | Unavailable | $29.91B | Unavailable | Unavailable | Unavailable | $27.43B | Unavailable | Unavailable |
Cash flow
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | Unavailable | Unavailable | Unavailable | $11.32B | $10.15B | $9.76B | $9.05B | $11.90B | $10.24B | $9.09B |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | Unavailable | Unavailable | Unavailable | -$4.34B | -$3.39B | -$6.09B | -$4.96B | -$5.36B | -$5.15B | -$4.02B |
| Financing cash flow | Unavailable | Unavailable | Unavailable | -$8.78B | $2.99B | -$45.00M | -$553.00M | -$5.85B | -$5.56B | -$5.48B |
| Net change in cash | -$6.76B | $5.61B | -$6.20B | Unavailable | $9.75B | $3.63B | $3.54B | Unavailable | Unavailable | Unavailable |
| Stock-based compensation | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common dividends paid | $1.95B | $1.98B | $2.00B | $2.01B | $2.03B | $2.04B | $2.09B | $2.04B | $2.04B | $2.10B |
| Common share repurchases | $2.80B | $2.19B | $2.48B | $1.83B | $1.49B | $961.00M | $218.00M | $13.00M | $43.00M | $2.00M |
| Depreciation & amortization | $4.98B | $4.97B | $4.97B | $5.13B | $5.32B | $5.25B | $5.19B | $5.37B | $5.09B | $5.07B |
Derived
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | 12.7% | 22.3% | 21.1% | 17.3% | 19.9% | 21.1% | 18.8% | 16.5% | 7.0% | 19.3% |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current ratio | 0.87x | 0.97x | 0.92x | 0.91x | 1.01x | 0.81x | 0.70x | 0.66x | 0.73x | 0.70x |
| Revenue YoY growth | 5.3% | 2.3% | 2.9% | 3.6% | 1.6% | 3.5% | 2.0% | 0.9% | -0.5% | -0.4% |
| Net margin | 2.8% | 14.7% | 12.2% | 11.3% | 30.3% | 14.6% | 14.2% | 12.6% | -0.6% | 12.1% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 1.22x | Unavailable | Unavailable | 1.00x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 51.6% | 13.5% | 21.8% | 2.6% | 9.2% | 20.3% | 21.7% | 17.0% | 89.9% | 22.4% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open T in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-10-21View SEC filing
25-NSE · Filed 2026-09-08View SEC filing
10-Q · Filed 2026-07-22View SEC filing
10-Q · Filed 2026-04-27View SEC filing
10-K · Filed 2026-02-09View SEC filing
10-Q · Filed 2025-10-31View SEC filing
Reconciliation checks needing review
1 period on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.