Want to see T full AI Analyst Report?
Top Page
AT&T
(NYSE:T)
Select Model
Select Model
Rating:66Neutral
Price Target:
$23.50
▼(-11.35% Downside)
Action:Reiterated
Date:05/01/26
The score is driven by solid financial results and constructive earnings-call guidance/operational momentum, supported by reasonable valuation and a strong dividend yield. These positives are tempered by high leverage and softening free cash flow, while technical indicators point to weak near-term price momentum.
Positive Factors
Scale and fiber expansion
Sustained, large-scale net adds and accelerated footprint expansion increase returns on network investment over time. Growing subscriber base improves unit economics on fiber/fixed wireless, supports long-term revenue stability, and creates capacity to monetize higher-value services across a larger addressable market.
Negative Factors
Elevated leverage and refinancing sensitivity
High absolute debt and elevated leverage increase sensitivity to interest rates and financing conditions. Planned acquisitions push net debt/EBITDA higher near-term, constraining optionality for additional strategic spending and making multi-year capital allocation decisions more dependent on deleveraging progress.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale and fiber expansion
Sustained, large-scale net adds and accelerated footprint expansion increase returns on network investment over time. Growing subscriber base improves unit economics on fiber/fixed wireless, supports long-term revenue stability, and creates capacity to monetize higher-value services across a larger addressable market.
Read all positive factors
AT&T Key Performance Indicators (KPIs)
Any
Mobility: Postpaid Average Revenue Per User
Measures the average revenue generated from each postpaid customer, indicating the value of AT&T's customer base and its ability to upsell services or increase pricing.
Measures the average revenue generated from each postpaid customer, indicating the value of AT&T's customer base and its ability to upsell services or increase pricing.
Data provided by:
The Fly
The FlyAT&T (T) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$143.83B
Dividend Yield4.56%
Average Volume (3M)45.28M
Price to Earnings (P/E)6.9
Beta (1Y)0.07
Revenue Growth2.92%
EPS Growth83.12%
CountryUS
Employees139,970
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)2.99
Shares Outstanding6,948,339,000
10 Day Avg. Volume52,912,906
30 Day Avg. Volume45,281,822
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)1.61
Price to Sales (P/S)1.42
P/FCF Ratio9.16
Enterprise Value/Market Cap2.14
Enterprise Value/Revenue2.44
Enterprise Value/Gross Profit3.06
Enterprise Value/Ebitda5.70
Forecast
1Y Price Target
$31.21Price Target Upside17.75% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering17
EPS Forecast (FY)2.31
Revenue Forecast (FY)$129.59B
AT&T Business Overview & Revenue Model
Company Description
Globally, AT&T Inc. delivers an array of telecommunication, media, and technology offerings. Within its Communications division, the company supplies wireless voice and data communication services. It also markets mobile devices, such as smartphon...
How the Company Makes Money
AT&T primarily makes money by selling recurring connectivity services and related fees. The largest revenue driver is wireless service, where customers pay monthly subscription charges for smartphone and connected-device voice/data plans; AT&T als...
AT&T Earnings Call Summary
Earnings Call Date:Apr 22, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 22, 2026
Earnings Call Sentiment Positive
The call highlighted clear operational momentum: record-first-quarter advanced Internet net adds, strong Advanced home Internet revenue growth (+27.3% YoY), successful closing and early integration of a large fiber acquisition, continued fiber footprint expansion and converged customer strength (organic convergence ~45%). Financials showed revenue, EBITDA and EPS growth and the company reiterated full-year guidance while detailing multi-year growth and return plans. Near-term challenges include margin compression vs. comps due to prior vendor settlements, elevated capex depressing free cash flow, higher leverage from acquisitions, and continued steep declines in legacy revenues and EBITDA as the company phases out copper. Overall, the positive operational progress and reiterated outlook outweigh the near-term cash, margin and legacy-transition headwinds.Positive Updates
Strong Advanced Internet Net Adds
Reported 584,000 total fiber and fixed wireless advanced Internet customer net additions in Q1 — the best-ever first quarter and sixth consecutive quarter with over 0.5M consumer and business net adds. Advanced home Internet net adds were 512,000 (273,000 fiber; 239,000 Internet Air).
Negative Updates
Adjusted EBITDA Margin Compression and Comparability Headwinds
Adjusted EBITDA margin decreased 30 basis points to 37.4% year-over-year; Q1 2025 benefitted from a ~$100 million vendor settlement that complicates comparisons and reduced the comparable EBITDA benefit this year.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Advanced Internet Net Adds
Reported 584,000 total fiber and fixed wireless advanced Internet customer net additions in Q1 — the best-ever first quarter and sixth consecutive quarter with over 0.5M consumer and business net adds. Advanced home Internet net adds were 512,000 (273,000 fiber; 239,000 Internet Air).
Read all positive updates
Company Guidance
AT&T reiterated 2026 guidance and provided a range of operating metrics: consolidated service revenues are expected to grow low single‑digits and consolidated adjusted EBITDA to grow 3–4% (Q1 adjusted EBITDA +2.3%, margin 37.4%, -30 bps); full‑year adjusted EPS $2.25–$2.35 (Q1 adj. EPS $0.57, +~12%). Free cash flow was $2.5B in Q1 (capex $5.1B, FCF down ~ $600M YoY), Q2 FCF is guided to $4.0–4.5B and full‑year FCF to $18B+. Advanced Connectivity (>90% of revenues) is expected to grow service revenues 5%+ and EBITDA 6%+ (Q1 AC EBITDA +5.6%); Advanced home Internet revenue +27.3% with 512k net adds (273k fiber, 239k Internet Air) and total fiber/fixed‑wireless net adds 584k (plus 1.1M acquired Lumen customers). Wireless service revenue grew 1.7% in Q1 with 294k postpaid phone net adds and a full‑year wireless service revenue outlook of 2–3%. Legacy service revenue is declining (~25% YoY); net debt/adj. EBITDA was 2.71x (Q4 2.53x), expected to rise to ~3.2x after EchoStar, fall to ~3.0x by end‑2026 and return toward ~2.5x within ~3 years; cash $12B, $19B available to draw; $4.3B returned to shareholders in Q1 and $45B+ targeted returns through 2028; $4B annual cost‑savings target by end‑2028.AT&T Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
60
Neutral
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 126.53B | 125.65B | 122.34B | 122.43B | 120.74B | 134.04B |
| Gross Profit | 100.80B | 100.22B | 52.53B | 53.53B | 69.89B | 73.63B |
| EBITDA | 54.08B | 54.70B | 44.02B | 45.32B | 21.07B | 53.72B |
| Net Income | 21.37B | 21.89B | 10.95B | 14.40B | -8.52B | 20.08B |
Balance Sheet | ||||||
| Total Assets | 421.19B | 420.20B | 394.80B | 407.06B | 402.85B | 551.62B |
| Cash, Cash Equivalents and Short-Term Investments | 11.96B | 18.23B | 3.30B | 6.72B | 3.70B | 19.22B |
| Total Debt | 164.13B | 173.99B | 140.92B | 154.90B | 154.68B | 195.83B |
| Total Liabilities | 293.57B | 291.71B | 274.57B | 287.64B | 296.40B | 367.77B |
| Stockholders Equity | 109.66B | 110.53B | 104.37B | 103.30B | 97.50B | 166.33B |
Cash Flow | ||||||
| Free Cash Flow | 17.35B | 19.44B | 18.51B | 20.46B | 12.40B | 25.43B |
| Operating Cash Flow | 38.79B | 40.28B | 38.77B | 38.31B | 32.02B | 41.96B |
| Investing Cash Flow | -25.47B | -18.78B | -17.49B | -19.66B | -25.80B | -32.09B |
| Financing Cash Flow | -7.93B | -6.39B | -24.71B | -15.61B | -23.74B | 1.58B |
AT&T Technical Analysis
Negative
26.51
Price Trends
24.31
Negative
25.96
Negative
25.47
Negative
Market Momentum
-0.76
Positive
28.32
Positive
26.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For T, the sentiment is Negative. The current price of 26.51 is above the 20-day moving average (MA) of 22.73, above the 50-day MA of 24.31, and above the 200-day MA of 25.47, indicating a bearish trend. The MACD of -0.76 indicates Positive momentum. The RSI at 28.32 is Positive, neither overbought nor oversold. The STOCH value of 26.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for T.
AT&T Risk Analysis
AT&T disclosed 21 risk factors in its most recent earnings report. AT&T reported the most risks in the "Macro & Political" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
AT&T Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $87.70B | 4.81 | 19.83% | 4.42% | 1.39% | 24.78% | |
74 Outperform | $181.52B | 17.81 | 17.82% | 1.75% | 9.48% | -8.46% | |
71 Outperform | $79.08B | 15.58 | 20.61% | 2.69% | 9.51% | 187.55% | |
67 Neutral | $176.79B | 10.36 | 16.68% | 6.60% | 2.85% | -2.51% | |
66 Neutral | $143.83B | 6.92 | 19.59% | 4.56% | 2.92% | 83.12% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
51 Neutral | $19.70B | 3.76 | 30.84% | ― | -0.92% | 3.13% |
* Communication Services Sector Average
T
AT&T
20.70
-6.97
-25.20%
AMX
America Movil
25.99
8.51
48.70%
CHTR
Charter Communications
142.21
-276.01
-66.00%
CMCSA
Comcast
24.55
-8.05
-24.70%
VZ
Verizon
42.34
1.42
3.46%
TMUS
T Mobile US
167.73
-69.31
-29.24%
AT&T Corporate Events
Executive/Board Changes
AT&T Announces CFO Retirement and Successor Appointment
Neutral
Jun 16, 2026
On June 11, 2026, ATT announced that Senior Executive Vice President and Chief Financial Officer Pascal Desroches will retire effective December 31, 2026, marking a planned leadership transition in the company’s top finance role. On June 15,...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
AT&T Shareholders Approve Governance Changes and Charter Update
Neutral
May 20, 2026
At its virtually held annual meeting on May 14, 2026, ATT shareholders elected all nominated directors and backed management-sponsored proposals, including ratification of the independent auditor, a 2026 incentive plan, and a stock purchase and de...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
AT&T Completes $6 Billion Multi-Tranche Global Debt Offering
Positive
Apr 30, 2026
On April 30, 2026, ATT closed a multi-tranche debt offering totaling $6 billion in registered global notes, with maturities ranging from 2033 to 2066 and coupons between 4.750% and 6.300%. The notes were issued under an existing 2013 indenture wit...
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
AT&T Posts Q1 Revenue Growth on Advanced Connectivity Strength
Positive
Apr 22, 2026
ATT reported on April 22, 2026 that first-quarter 2026 operating revenues from continuing operations rose 2.9% year on year to $31.5 billion, driven by growth in Advanced Connectivity wireless and fiber services and supported by favorable foreign ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.