AT&T Inc. (T) stock analysis
Company overview and business model
Source fact: AT&T Inc. provides telecommunications and technology services worldwide. It operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores. It also provides AT&T Dedicated Internet, fiber ethernet and broadband, fixed wireless, and hosted and managed professional services; and copper-based voice and data, Virtual Private Networks (VPN), wholesale, outsourcing, and IP, as well as customer premises equipment for multinational corporations, small and mid-sized businesses, governmental, and wholesale customers. In addition, this segment offers broadband services, including fiber connections, legacy telephony voice communication services, and other VoIP services and equipment to residential customers. This segment markets its communications services and products under the AT&T, AT&T Business, Cricket, AT&T PREPAID, AT&T Fiber, and AT&T Internet Air brand names. Its Latin America segment provides postpaid and prepaid wireless services in Mexico under the AT&T and Unefon brand names, as well as sells smartphones through its stores, agents and third-party retail stores. The company was formerly known as SBC Communications Inc. and changed its name to AT&T Inc. in 2005. AT&T Inc. was incorporated in 1983 and is based in Dallas, Texas.
Classification: NYSE · Communication Services · Telecom Services
Revenue and growth
Source fact: Revenue was USD 125.65 billion for the period ending 2025-12-31.
Caverian calculation: Revenue changed +2.7% (FY2025 vs FY2024).
Profitability
Source fact: Net income was USD 21.95 billion in the latest reported period.
Source metric: Reported net margin was 17.5%.
Balance sheet and liquidity
Source fact: Cash and equivalents were USD 18.23 billion.
Source fact: Total debt was USD 155.04 billion.
Source metric: Current ratio was 0.91x.
Cash-flow analysis
Source fact: Operating cash flow was USD 40.28 billion.
Source fact: Free cash flow was USD 19.44 billion.
Valuation
Source metrics: Trailing P/E 8.30x; Forward P/E 9.81x; Price to book 1.57x; Price to sales 1.35x; EV/EBITDA 7.53x.
Caverian model output: Value score was 60/100.
Competitive position
Classification: Peer context: Telecom Services within Communication Services.
Caverian model output: Quality score was 56/100.
Caverian model output: Growth score was 61/100.
Material risks
Caverian model interpretation: Watch out: the balance sheet looks fragile, and short-term cash may not cover short-term bills.
Caverian calculation: Altman Z-score was 0.96 (distress zone).
Caverian calculation: Piotroski F-score was 6/9.
Data sources and freshness
Freshness: This report uses a stored upstream snapshot; statement periods are shown alongside the figures.
Methodology and limitations
Facts reproduce stored upstream fields. Calculations derive only from the displayed stored statements. Model outputs are Caverian interpretations, not investment advice or a buy/sell recommendation.
How Caverian approaches valuation · Sources and product principles