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T

AT&T Inc.
$23.44
-0.26% 2026-10-16
Communication ServicesS&P 500
-20%-10%-1%+9%+18%Oct 2025Apr 2026Oct 2026
TSPY
1W
+5.7%
1M
-8.3%
3M
+8.7%
6M
-9.4%
YTD
-1.1%
1Y
-6.3%

Live chart

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What they do

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.

Communication Services · Telecom Services

Grades vs sector

Momentum
53rd pct in sector
C+
12-1 return: +2.1%
Percentile within its GICS sector across the S&P 1500.
Growth
38th pct in sector
C-
Revenue growth (YoY): +2.3%
Percentile within its GICS sector across the S&P 1500.
Value
78th pct in sector
B+
Forward E/P: 11.0% · EBITDA/EV: 13.8%
Percentile within its GICS sector across the S&P 1500.
Profitability
73rd pct in sector
B+
Profit margin: +16.9% · Return on equity: +18.3%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth
not ranked (outside this model's universe or screens)
Momentum Top 15
rank 368 of 499 · 12-1 momentum % -4.0
Momentum Blend
not in the current book
New Highs Growth
not ranked (outside this model's universe or screens)
Conviction 20
not in the current book

News

More news
AT&T Sinks 5% Despite Q3 Beat and Raised Outlook; Verizon and T-Mobile Drop 3%
24/7 Wall St. · 1h ago
Is AT&T stock a buy-the-dip opportunity after its earnings-led selloff?
Investing.com · 1h ago
AT&T Wireless Subscriber Growth Underwhelms. Will It Spark IPhone 18 Battle?
Investor's Business Daily · 2h ago
AT&T shrugs off SpaceX fears with its own large haul of new internet subscribers
MarketWatch · 4h ago
Why is AT&T stock sliding today?
Investing.com · 4h ago

Key stats

Market cap$160.5B
P/E (trailing)7.7
P/E (forward)9.1
52-week range19.89 – 29.44
Revenue growth (YoY, latest qtr)+2.3%
Dividend yield4.74%
Analyst consensusBuy (23)
Mean price target$28.76 (+23%)
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Looks undervalued
Model read-out from the numbers below, not advice. Score +3 (DCF counts double).
▲DCF (base case)above the price by 94%
▲Forward P/E vs sector9.1x vs median 11.0x
•Piotroski F-score6/9
▼Altman Z0.9 (distress)
•Net debt / EBITDA2.6x
▲Analyst target+23% (23 analysts)

Discounted cash flow

Bear
$19
-20%
growth -3% · disc. 8.0% · term. 2.0%
Base
$45
+94%
growth 2% · disc. 7.0% · term. 2.5%
Bull
$93
+296%
growth 5% · disc. 6.0% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price implies shrinking cash flows: about -3% a year for 10 years.
Implied
-3%/yr
FCF, last 3 yrs
n/a
FCF, last 5 yrs
-1%/yr
Revenue, last 3 yrs
+1%/yr
Revenue, last 5 yrs
-3%/yr
Same inputs as the DCF above: trailing free cash flow 19.6B, 7.0% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.44 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Communication Services

P/E (trailing)
sector median 18.8× · 13th pct
7.7×
cheaper
Forward P/E
sector median 11.0× · 29th pct
9.1×
cheaper
EV / EBITDA
sector median 12.2× · 10th pct
6.1×
cheaper
Price / sales
sector median 1.9× · 24th pct
1.3×
cheaper
Price / book
sector median 2.3×
–
FCF yield
sector median 8.2% · 65th pct
12.2%
cheaper

Forward EPS $2.57 vs trailing $3.03 (-15% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO
$44.6B
as of 2026-06-30
vs a year ago
+6%
YoY
× TTM revenue
0.35×
coverage
24-09
24-12
25-03
25-06
25-09
25-12
26-03
26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin
50.6%
Operating margin
20.1%
FCF margin
15.4%
Net margin
16.9%
Return on equity
–
Return on invested capital
19.1%
Net debt / EBITDA
2.6×
Current ratio
1.0×
Interest cover
3.6×
Cash conversion (OCF/NI)
1.9×
Piotroski F-score 6/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✗ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 0.9 (distress zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$29
+23%
Analysts
23
Buy
Range
$20–$36
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$125.6B$22.0B$40.3B
2024$122.3B$10.9B$38.8B
2023$122.4B$14.4B$38.3B
2022$120.7B$-8.5B–
2021$134.0B$20.1B$42.0B
2020$143.1B$-5.2B$43.1B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +1.3%.

Earnings

Next report: 2026-10-21 · before open · EPS est 0.60
24-1025-0125-0425-0725-1026-0126-0426-070.000.65
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-07-220.590.65+10.5%
2026-04-220.550.57+3.4%
2026-01-280.470.52+11.6%
2025-10-220.540.54+0.5%
2025-07-230.530.54+1.9%
2025-04-230.510.51-0.9%
2025-01-270.510.54+6.8%
2024-10-230.570.60+5.1%

Quarterly revenue

QuarterRevenueYoY
2026-06-30$31.6B+2.3%
2026-03-31$31.5B–
2025-12-31$33.5B–
2025-09-30$30.7B–
2025-06-30$30.8B–
Analyst actions
Scotiabank
2026-10-09 · main
Sector Perform → Sector Perform
PT $26
Scotiabank
2026-10-02 · main
Sector Perform → Sector Perform
PT $28
Morgan Stanley
2026-09-28 · main
Overweight → Overweight
PT $28
BNP Paribas
2026-09-21 · up
Neutral → Outperform
PT $30
Wolfe Research
2026-07-23 · up
Peer Perform → Outperform
PT $29
Morgan Stanley
2026-07-23 · main
Overweight → Overweight
PT $27

Recent dividends

2026-10-09: $0.278 · 2026-07-10: $0.278 · 2026-04-10: $0.278 · 2026-01-12: $0.278 · 2025-10-10: $0.278 · 2025-07-10: $0.278 · 2025-04-10: $0.278 · 2025-01-10: $0.278

Stats refreshed 2026-10-21 01:35:16 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

coteau

Coteau Systematic Strategies publishes stock research and model portfolios. It doesn't manage money or give investment advice. Results are hypothetical unless marked Live. Data: Yahoo Finance (delayed) and SEC EDGAR.