Valuation, 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 $128.85B and net income of $13.14B for the fiscal year ended 2026-09-30. This page shows 1 annual period 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 |
|---|---|
| Revenue | $128.85B |
| Cost of revenue | Unavailable |
| Gross profit | Unavailable |
| Operating income | $23.58B |
| Net income | $13.14B |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $18.18B |
| Income tax expense | $3.46B |
| Diluted EPS | Unavailable |
| Selling, general & administrative | $29.37B |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-09-30 |
|---|---|
| Cash & equivalents | $10.77B |
| Total assets | $445.87B |
| Current assets | $52.34B |
| Total liabilities | Unavailable |
| Current liabilities | $60.28B |
| Total equity incl. NCI | $122.75B |
| Temporary (mezzanine) equity | $2.01B |
| Inventory | $2.89B |
| Accounts receivable | $7.99B |
| Goodwill | $63.86B |
| Long-term debt | $150.14B |
| Accounts payable | Unavailable |
Cash flow
| Metric | 2026-09-30 |
|---|---|
| Operating cash flow | Unavailable |
| Capital expenditures | Unavailable |
| Investing cash flow | Unavailable |
| Financing cash flow | Unavailable |
| Net change in cash | Unavailable |
| Stock-based compensation | Unavailable |
| Common dividends paid | $7.94B |
| Common share repurchases | $9.30B |
| Depreciation & amortization | $20.04B |
Derived
| Metric | 2026-09-30 |
|---|---|
| Free cash flow | Unavailable |
| Gross margin | Unavailable |
| Operating margin | 18.3% |
| FCF margin | Unavailable |
| SBC / revenue | Unavailable |
| Current ratio | 0.87x |
| Revenue YoY growth | 3.5% |
| Net margin | 10.2% |
| R&D / revenue | Unavailable |
| CapEx / revenue | Unavailable |
| Long-term debt / equity | 1.22x |
| Effective tax rate | 19.0% |
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
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.