AT&T Balance Sheet Health
Financial Health criteria checks 2/6
AT&T has a total shareholder equity of $127.6B and total debt of $139.5B, which brings its debt-to-equity ratio to 109.3%. Its total assets and total liabilities are $421.2B and $293.6B respectively. AT&T's EBIT is $27.0B making its interest coverage ratio 3.9. It has cash and short-term investments of $12.0B.
Key information
109.27%
Debt to equity ratio
US$139.45b
Debt
| Interest coverage ratio | 3.9x |
| Cash | US$11.96b |
| Equity | US$127.62b |
| Total liabilities | US$293.57b |
| Total assets | US$421.19b |
Recent financial health updates
No updates
Recent updates
Seeking Alpha • 3h
AT&T: Locking In A 6.2-6.3% Yield With Baby Bonds And Preferred Stock
Summary AT&T continues to deliver robust financial results, supporting its senior securities with strong coverage ratios. Preferred shares yield 6–6.5% with a payout ratio under 1%, reflecting limited risk premium and excellent dividend coverage. Baby bonds (TBB) offer a slightly lower yield but may present a superior risk/reward profile, especially for investors with favorable tax treatment on interest income. I remain constructive on AT&T’s senior securities, favoring baby bonds but considering preferreds attractive above a 6.5% yield. Read the full article on Seeking Alpha
Narrative Update • Apr 28
T: Future Returns Will Balance Heavy Network Spend And Moderating P/E Expectations
Analysts have slightly lowered their AT&T price target from about $25.11 to $25.00 as they factor in modestly different assumptions for revenue growth, profit margins, the discount rate, and the future P/E multiple. What's in the News Between January 1, 2026 and March 31, 2026, AT&T repurchased 86,199,718 shares, or 1.22% of its stock, for US$2,300m under its December 3, 2024 buyback program.
New Narrative • Apr 22
AT&T (T): The Connectivity Pivot and the "Debt-vs-Growth" Tug-of-War
AT&T Inc. (T) , the Dallas-based telecommunications vanguard, enters Wednesday, April 22, 2026 , in the immediate wake of a Q1 earnings report that has sent ripples of "cautious optimism" and "mechanical skepticism" through the market.
Narrative Update • Apr 14
T: Expanded Buybacks Will Support Confidence In Long Term Connectivity Investments
Analysts now estimate AT&T's fair value at roughly $36.00 per share, a slight adjustment from about $36.00 previously. This reflects updated views on the discount rate, modest revenue growth expectations, profit margins, and future P/E assumptions.Narrative Update • Mar 31
T: Expanded Buybacks Will Support Confidence In Long Term Connectivity Investments
Analysts now place AT&T's fair value estimate at $36.00, up from about $31.46. This reflects updated assumptions for discount rate, revenue growth, profit margin, and future P/E that they see as better aligned with the company’s current risk and earnings profile.Narrative Update • Mar 16
T: Future Returns Will Be Pressured By Rich P/E Versus Fundamentals
Analysts have raised AT&T's price target to $25.11 from $23.24, reflecting updated assumptions that include slightly higher revenue growth, a modest change in the discount rate, a small adjustment to profit margin expectations, and a higher future P/E multiple. What's in the News AT&T introduced updated Unlimited Your Way wireless plans, including the new AT&T Value 2.0 entry level option, offering mix and match flexibility, more high speed data, and features such as ActiveArmor and unlimited talk, text, and data across the U.S., Canada, and Mexico (Product related announcement).
Narrative Update • Mar 02
T: Cloud Partnerships And Buybacks Will Shape Balanced Return Potential
Analysts have nudged their price target narrative on AT&T slightly higher to about $29.41, reflecting updated assumptions for discount rate, fair value and future P/E that fine-tune rather than overhaul the prior view. What's in the News AT&T, Amazon Web Services and Amazon Leo are working together to combine AT&T’s fiber network with AWS cloud and AI tools, including migrating AT&T workloads to AWS Outposts and connecting AWS data centers with high capacity fiber, while Amazon Leo will provide satellite based connectivity for fixed broadband services in harder to serve areas (Key Developments).Narrative Update • Feb 16
T: Future Returns Will Be Constrained By Lower Expected P/E Multiple
Analysts have adjusted their AT&T price target from $26.00 to about $23.24. This reflects updated views on fair value, discount rate, revenue growth, profit margins, and future P/E expectations.Narrative Update • Feb 02
T: Network Partnerships And Buybacks Will Support Future Upside Potential
Analysts have trimmed their fair value estimate for AT&T from about US$29.48 to roughly US$29.33 per share, citing small adjustments to revenue growth, profit margin assumptions and the expected future P/E multiple. What's in the News Completed share repurchase of 160,127,368 shares, about 2.24% of outstanding stock, for US$4.3b under the buyback announced on December 3, 2024.Narrative Update • Jan 19
T: Future 5G Expansion And Fiber Services Will Support Upside Potential
Analysts now estimate AT&T's fair value at about US$29.48, down from roughly US$30.99, citing updated assumptions around discount rates, slightly different revenue growth expectations, modestly adjusted profit margin forecasts, and a lower future P/E estimate. What's in the News Acer filed a patent infringement lawsuit against AT&T in the U.S. District Court for the Eastern District of Texas, seeking compensation related to six U.S. patents after licensing talks did not produce an agreement (Lawsuits & Legal Issues).Narrative Update • Jan 05
T: Future Returns Will Reflect 5G Expansion Benefits And Margin Resilience
Analysts trimmed their price target on AT&T to US$26.00 from about US$26.14, citing updated assumptions for a slightly higher discount rate, modestly stronger revenue growth and profit margins, and a lower future P/E multiple. What's in the News Servify is partnering with AT&T to offer AT&T Business Protect Enterprise Plans, adding tiered device protection, an enterprise portal, AI-supported claims and access to more than 2,000 repair locations for mid to large business customers.Narrative Update • Dec 14
T: Future Returns Seen Balancing 5G Expansion Progress And Margin Pressures
Narrative Update on AT&T Analysts have raised their price target for AT&T by about 2 dollars, reflecting higher expected revenue growth and a richer future valuation multiple, partially offset by a slightly lower projected profit margin and a higher discount rate. What's in the News AT&T reaffirmed 2025 guidance, targeting low single digit consolidated service revenue growth, at least 3% mobility service revenue growth, and mid to high teens consumer fiber broadband revenue growth, and maintained similar low single digit service growth expectations for 2026 to 2027 (Corporate guidance).Narrative Update • Oct 21
Analysts Lift AT&T Price Target as Profit Margins and Revenue Outlook Improve Amid Key Partnerships
Analysts have raised their price target for AT&T from $30.62 to $30.99, citing improved profit margins and a slightly stronger outlook for revenue growth. What's in the News AT&T, in partnership with Boldyn Networks, launched new cellular connectivity in New York City's historic Joralemon Street tunnel.Analysis Article • Jul 31
AT&T's (NYSE:T) Earnings Offer More Than Meets The Eye
AT&T Inc.'s ( NYSE:T ) solid earnings announcement recently didn't do much to the stock price. Our analysis suggests...Seeking Alpha • Apr 25
AT&T: 8% Earnings Yield, Safe Dividend, Broadband Growth
Summary AT&T reported Q1 earnings that fell short of EPS expectations, while revenues beat the consensus estimate by a good margin. AT&T added 261k new broadband subscribers in Q1'25 and generated $3.1B in free cash flow, covering its $2.0B dividend. Broadband ARPU is growing. I maintain a strong buy rating due to AT&T's value proposition driven by free cash flow-backed dividends and accelerating debt repayments. Shares are trading at an 8% earnings yield, and the dividend should be sustainable, with an estimated forward dividend coverage ratio of ~200%. Despite risks, AT&T's consistent subscriber growth, debt reduction, and strong dividend coverage make it an attractive investment for income-focused investors. Read the full article on Seeking AlphaSeeking Alpha • Apr 19
AT&T: Don't Get FOMO At Peak Valuation
Summary AT&T stock has shown a massive bullish run in the past few quarters, which is a big change from the earlier negative sentiment towards the stock. In YTD, AT&T has seen an over 18% jump compared to a 10% dip in the S&P 500 and a big decline in many Mag 7 stocks. The convergence of fiber and wireless is a positive factor for the company and the management has also mentioned a $20 billion share buyback capacity, which can deliver better EPS. The current tariff situation might lead to investors giving greater preference to the stability of AT&T compared to other growth stocks, but the stock is already quite pricey. The company is expected to show barely 1%-2% of revenue growth in the next few years, and any economic slowdown or recession could still have a big negative impact on the stock. Read the full article on Seeking AlphaNew Narrative • Apr 08
5G And AI Integration Will Strengthen US Communications Infrastructure
Focus on expanding 5G and fiber networks aims to drive growth and enhance earnings, with cost savings improving margins and profitability.Seeking Alpha • Mar 07
AT&T: Dividend Doesn't Lie And Says Hold
Summary Since my last writing, AT&T's dividend yield has decreased to 4.24%, among the lowest levels in at least 5 years. In the meantime, its latest dividend declaration kept showing stagnating dividend growth. I don’t see the dividend growth to resume anytime soon given its CAPEX obligations, debt obligations, and margin pressure ahead. I expect a noticeable contraction of net margin pressure due to macroeconomic headwinds and higher churn rates. Given these new developments, I have adjusted my rating on T stock from BUY to HOLD. Read the full article on Seeking AlphaSeeking Alpha • Feb 27
AT&T: This Could Be A Top To Avoid
Summary AT&T investors are likely feeling exuberant right now, as the stock saw a 70% gain over the past year, likely stunning even the most optimistic bulls. The company’s focused execution, including shedding DirecTV and peak CapEx investments this year, should improve cash flow and debt metrics, benefiting shareholders. AT&T’s convergence strategy and partnerships are bolstering its bullish momentum, but questions remain about whether they have already been priced in. AT&T stock's valuation is much less attractive now, though it hasn't gone over the cliff yet. However, it's wise to take a step back, as this train could derail. Read the full article on Seeking AlphaSeeking Alpha • Feb 10
AT&T: Operational Excellence; Dividend Increase Could Happen
Summary AT&T has shown operational excellence and continued momentum into 2025 with no signs of a reversal in the trend. AT&T is successfully paying down debt, increasing adjusted EBITDA, and returning capital back to the shareholders at a significant magnitude. Stronger operations, a healthier balance sheet, and willingness for shareholder returns by the management team could translate to a return of dividend payout increases in the near future. Read the full article on Seeking AlphaSeeking Alpha • Feb 04
AT&T: Take Profits And Look Elsewhere (Rating Downgrade, Technical Analysis)
Summary AT&T's Q4 report showed mixed results, with strong fiber and mobility segments but significant declines in the business wireline division. Despite recent rallies, AT&T's current valuation metrics make it less attractive compared to competitors like Verizon, Comcast, and Charter Communications. Technical indicators suggest limited upside potential, prompting me to reduce my AT&T long position by 80% to capture 2024 gains. While AT&T's dividend payouts remain stable, I seek better share price appreciation and will look for new investment opportunities elsewhere. Read the full article on Seeking AlphaSeeking Alpha • Jan 28
AT&T's Surge Was Very Much Warranted And Investors Should Expect Continued Upside
Summary AT&T Inc.'s stock surged 6.3% after surpassing Q4 2024 revenue and earnings expectations, with strong growth in key segments and optimistic 2025 guidance. Mobility and Consumer Wireline segments showed robust performance, driving revenue growth despite declines in Business Wireline, with significant increases in subscribers and ARPU. Profitability improved, with net profits nearly doubling and operating cash flow rising, although adjusted operating cash flow saw a slight decline. Management's strategic actions, including asset sales and cost-cutting measures, are reducing net debt and supporting a favorable risk-reward outlook, reaffirming T stock as a “strong buy.”. Read the full article on Seeking AlphaSeeking Alpha • Jan 22
AT&T: Upcoming Earnings Could End 80% Rally (Sell Rating)
Summary AT&T Inc. has had a monster move. And while any stock can go higher, this one has a lot of good news priced in, and is prone to rolling over. Technical and quantitative indicators are my “weight of the evidence,” and the dividend safety rating here provides additional concerns. This is a stock that has spent 18 months getting back what it lost the few years prior, so this is not a time I care to step in. Read the full article on Seeking AlphaSeeking Alpha • Jan 14
AT&T Q4 Earnings Preview: All About Free Cash Flow
Summary AT&T's strong free cash flow and disciplined debt management signal financial health, supporting my prediction of a dividend increase by the end of FY 2025. AT&T's Q4 2024 free cash flow is expected between $4.2 billion and $5.2 billion, ensuring ample coverage for dividends and potential increases. Analysts' upgrades and AT&T's commitment to $40 billion in shareholder returns over three years highlight confidence in the company's strategic direction. Despite recent revenue misses, I predict a small beat in Q4 earnings, maintaining my "Buy" rating on AT&T stock. Read the full article on Seeking AlphaSeeking Alpha • Dec 27
AT&T: A Strong Yield, Selling At A Discount
Summary AT&T's recent stock dip offers a buying opportunity, supported by strong Fiber Broadband growth and a promising free cash flow outlook. The Telco's aggressive Fiber expansion aims to increase Fiber-ready locations from 29 million in 2024 to over 50 million by 2029. AT&T's free cash flow is projected to grow by $1 billion annually until 2027, bolstering dividends, buybacks, and financial flexibility. Despite past debt issues, AT&T's focus on Fiber and deleveraging enhances its value proposition, making it attractive for passive income investors. Read the full article on Seeking AlphaSeeking Alpha • Dec 14
AT&T: Let Your Profit Run (Technical Analysis)
Summary Besides improving financials and guidance as reported in its Q3, I also see other bullish indicators. AT&T stock has broken out key resistance levels recently and cleared more space for further price gain. Despite recent rallies, T stock remains attractively valued, especially when adjusted for growth and yield. With a ~10x P/E, its PEGY ratio is still below 1x, considering a 6% growth potential and 4.75% dividend yield. Read the full article on Seeking AlphaSeeking Alpha • Dec 03
Wall Street Lunch: AT&T Banks On Subscriber Growth For Outlook Update
Summary AT&T projects significant growth with adjusted EPS reaching $2.07 in 2025 and double-digit growth by 2027. Apple faces a $995 million lawsuit in the U.K. over App Store fees, while South Korea's won stabilizes after political turmoil. October job openings increased to 7.744M. Read the full article on Seeking AlphaSeeking Alpha • Nov 25
AT&T: Preferreds Likely To Outperform Over Next 6 Months
Summary AT&T reported another strong quarter and the stock continued to move higher. AT&T's 12% forward free cash flow yield and low debt to EBITDA support a longer term case. There are some risks here, and we think preferreds could outperform until the middle of 2025. Read the full article on Seeking AlphaSeeking Alpha • Nov 19
AT&T: Could Be A Magnet For Value Investors
Summary AT&T has rebounded significantly, with shares up over 40% in the past year, driven by strong free cash flow and improving financial metrics. Despite risks like high debt and competition, AT&T's focus on core business and debt reduction positions it for future capital appreciation and strong dividends. AT&T's consistent growth in subscribers and revenue, coupled with substantial free cash flow, allows for continued debt reduction and potential dividend increases. With a lower rate environment, AT&T can refinance high-yield debt, potentially reducing interest expenses by $1-$2 billion annually, enhancing margins and valuation. Read the full article on Seeking AlphaSeeking Alpha • Nov 05
AT&T: Q3 Marks An Inflection Point
Summary AT&T recently provided guidance for its free cash flow target and also its deleverage plan. Given the updated guidance, I expect its growth CAPEX allocation to drastically improve in the next 1~2 years. I further expect such an improvement to be an inflection point for its stock prices. The improvement could fundamentally change the prevailing market sentiment and T’s growth CAPEX allocation. Read the full article on Seeking Alpha
New Narrative • Oct 29
Narrative update from Goran Damchevski
I missed my short-term growth expectation of 2%, but maintain that AT&T will achieve $135.2B in 2029.Seeking Alpha • Oct 23
AT&T Vs. Verizon: Which Big Dividend Stock Wins In A Rate-Cut Market?
Summary Verizon and AT&T, major internet and cellular providers, are compared for yield and total return, with AT&T leading in year-to-date performance amongst my comparative measures. Both companies are considered fixed income proxies, akin to utilities, with potential rate sensitivity that could be intensified or muted depending on the US President's new administration. Verizon wins in dividend comparisons and short-term reflexive patterns, while AT&T excels in free cash flow payout ratio, earnings expectations, and valuation. Overall, AT&T emerges as the better value, selling at 53% of fair value compared to Verizon's 59%. Read the full article on Seeking AlphaSeeking Alpha • Oct 13
AT&T Stock Is Dynamite (Technical Analysis)
Summary AT&T's stock has surged over 50% from its all-time lows, with technical analysis indicating strong bullish momentum and potential for further gains. Daily, weekly, and monthly moving averages show increasing bullish momentum, despite some near-term resistance and pullbacks. Key indicators like MACD and RSI confirm the uptrend, suggesting that the current rally is more sustainable than previous bear rallies. AT&T stock is undervalued based on stabilized financial results, with potential for multiple expansion, justifying a buy rating. Read the full article on Seeking AlphaSeeking Alpha • Oct 07
AT&T: DirecTV Divestiture Creates More Upside Potential
Summary I have been bullish on T since late 2023. T recently decided to divest its DirecTV segment. This move creates another potent positive catalyst for my bull thesis. In the near term, I anticipate the DirecTV deal to catalyze further margin expansion. In the longer term, I anticipate it improve its cash flow and spur growth in its core areas such as fiber and wireless. Read the full article on Seeking AlphaSeeking Alpha • Oct 01
AT&T: An End Of An Era With A Renewed Focus On Core Strengths
Summary AT&T's sale of its 70% stake in DIRECTV is a strategic move to reduce debt and focus on core strengths, benefiting shareholders. This transaction will lower AT&T's net leverage and EV to EBITDA multiple, making it a net positive for the company. The sale, valued at $7.6 billion, marks the end of a challenging era and allows AT&T to streamline its operations. Investors should watch for AT&T's Q3 2024 results on October 23rd, focusing on guidance, revenue, and earnings metrics. Read the full article on Seeking AlphaSeeking Alpha • Sep 22
AT&T: The More It Rises, The More I'll Buy
Summary AT&T's Fiber Broadband growth and increased free cash flow make it a compelling option for passive income investors, with a low dividend payout ratio. The Telco's reaffirmed 2024 free cash flow forecast and low valuation based on profits bolster the investment thesis despite recent 52-week highs. AT&T's stock remains moderately valued at 9.5x leading profits, with an intrinsic value estimate of $23-$25, driven by robust FCF growth. The 5% dividend is solid and sustainable, supported by a payout ratio of less than 50%, making AT&T a buy. Read the full article on Seeking Alpha
New Narrative • Sep 10
Narrative update from Stjepan Kalinic
Free Cash Flow Growth: AT&T's free cash flow increased by 9.5% year-over-year in Q2, indicating improved financial discipline. This enhanced cash flow allows the company to reduce its debt levels, conFinancial Position Analysis
Short Term Liabilities: T's short term assets ($46.3B) do not cover its short term liabilities ($50.4B).
Long Term Liabilities: T's short term assets ($46.3B) do not cover its long term liabilities ($243.1B).
Debt to Equity History and Analysis
Debt Level: T's net debt to equity ratio (99.9%) is considered high.
Reducing Debt: T's debt to equity ratio has increased from 99.3% to 109.3% over the past 5 years.
Debt Coverage: T's debt is well covered by operating cash flow (27.8%).
Interest Coverage: T's interest payments on its debt are well covered by EBIT (3.9x coverage).
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 17:41 |
| End of Day Share Price | 2026/05/07 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
AT&T Inc. is covered by 54 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Andrew Charles Beale | Arete Research Services LLP |
| Joseph Bonner | Argus Research Company |
| William Power | Baird |