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AT&T Inc (T)

Undervalued
Communication ServicesTelecom ServicesUnited States

Fundamental

72

Price

$20.93

Market Cap

$150.14B

Part 1 · What the company is worth

Overview

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.

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Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Balance Sheet & Liquidity

Revenue

$128.85B

Trailing 12 months (through 9/30/2026)

Net Income

$13.13B

Trailing 12 months (through 9/30/2026)

Free Cash Flow

$19.44B

Total Equity

$126.49B

Total Liabilities

$293.71B

Current Ratio

0.87

Interest Coverage

3.16

Debt/EBITDA

3.95

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

General caseUndervalued

Fair Value

$41.36

Current Price

$20.93

Margin of Safety

+49.4%

Fair Value Range

$26.88 - $55.83

Spread across the valuation methods used, not a statistically calibrated confidence interval.

Estimation Methods

Analyst price target:$28.59
Discounted cash flow (DCF):$110.36
Earnings multiple (P/E):$18.71
Graham growth formula:$30.44
Earnings power value (EPV):$36.40
Justified P/B:$61.02
Dividend discount (Gordon):$29.93
P/FFO, funds from operations:$101.75
Mid-cycle earnings:$44.32
Revenue multiple:$38.60
Last Earnings Surprise:+6.45%

Valuation Metrics

P/E Ratio

11.38

ROE

17.4%

P/B Ratio

1.15

P/FCF

7.91

Gross Margin

-

ROIC

4.8%

Profitability Radar

Value Creation (Economic Moat)

ROIC

4.8%

WACC

5.3%

ROIC − WACC

-0.5 pp

ROIC is roughly in line with the cost of capital — the company is barely covering its capital cost.

Fundamental Analysis Criteria

Passed (17)

  • EPS shows upward trend
  • P/FCF 7.91
  • P/B ratio 1.15
  • Debt/equity ratio
  • Operating margin 18.3%
  • Positive free cash flow
  • Current ratio
  • Interest coverage
  • Debt/EBITDA
  • Return on tangible assets
  • Price below Graham Number
  • DCF valuation (Undervalued)
  • ROE 19.5%
  • Earnings surprise, average 6.7%
  • Earnings quality (operating cash flow / net income) 3.06
  • Share dilution -1.7%
  • Piotroski F-Score 7/9

Failed (7)

  • EPS CAGR 2.53%
  • Price CAGR -3.26%
  • ROIC 4.8%
  • CapEx intensity
  • Low reliance on intangibles
  • Revenue growth 5Y -2.6%
  • Net margin trend 10.2% vs 17.9%

Unavailable (3)

  • Gross margin –
  • Dividend payout –
  • PEG ratio (needs P/E > 0 and growth > 0)

Piotroski F-Score

7/9

Strong financial health

ROA > 0
Operating cash flow > 0
ΔROA > 0
Cash flow > net income
Leverage ↓
Current ratio ↑
No dilution
Gross margin ↑
Asset turnover ↑

Earnings Quality

3.06

High quality: earnings backed by cash

Share Dilution

-1.7%

Buying back shares. Shareholder friendly

Institutional Holdings

Governance

Executive Team

NameTitleAge
Mr. John T. StankeyCEO, President & Chairman62
Mr. Pascal Desroches CPASenior EVP & CFO61
Mr. Jeffery Scott McElfreshChief Operating Officer55
Mr. David R. McAtee IISenior EVP & General Counsel56
Ms. Lori M. LeeGlobal Marketing Officer and Senior EVP of International59
Ms. Sabrina SandersSenior VP, Chief Accounting Officer & Controller45
Mr. Brett Joseph FeldmanSenior Vice President of Finance & Investor Relations-
Mr. Larry SolomonChief Communications Officer-
Mr. Rick MooreSenior Vice President of Corporate Development73
Ms. Kellyn Smith Kenny M.B.A.Chief Marketing & Growth Officer47

Audit Risk

1

Board Risk

7

Compensation Risk

5

Shareholder Rights Risk

3

Documents

  • Annual Report (10-K)

    A yearly overview of the business, its financial results, and the risks it faces.

    Filed on 2026-02-09

    View document
  • Quarterly Report (10-Q)

    A snapshot of financial performance for the most recent three-month period.

    Filed on 2026-10-21

    View document
  • Current Report (8-K)

    An announcement of a major event, such as a leadership change or big news.

    Filed on 2026-10-21

    View document

via SEC EDGAR

Income History

via SEC EDGAR

Part 2 · The price and its context

This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Market Reaction Profile

How much T moves, measured on its daily prices.

VolatilityMedium

More volatile than 54% of the tracked stocks (90-day volatility).

Volatility 30d
49.7%
Volatility 90d
37.7%
Beta vs S&P 500 (1y)
-0.41Correlation -0.19
Max drawdown (12m)
-29.6%
ATR (14d, % of price)
3.78%

Earnings reactions

How T moved around its past quarterly results.

Next earnings release

No upcoming release on the calendar.

What usually happens

  • Over the last 12 releases the stock moved a median of 3.2% the next day, up or down.
  • Next-day moves: up 9, down 3 (out of 12).
  • Of the 4 releases that beat estimates, the stock fell the next day after 1.

Release history

DateWhen EPS est.EPS actualSurprise Gap 1 day5 days
Oct 21, 2026Before the open0.600.65+7.8% -6.5% -6.4% n/a
Jul 22, 2026During the session0.600.65+8.4% +5.0% +3.5% +10.8%
Apr 22, 2026During the session0.560.57+1.6% -2.8% +0.4% +0.7%
Jan 28, 2026During the session0.470.52+10.2% +1.8% +4.7% +16.7%
Oct 22, 2025During the session0.550.54-1.0% -4.3% -1.9% -1.3%
Jul 23, 2025During the sessionn/an/an/a-4.1% +1.2% 0.0%
Apr 23, 2025During the sessionn/an/an/a-1.6% +0.9% +1.3%
Jan 27, 2025During the sessionn/an/an/a+3.4% +6.3% +4.4%
Oct 23, 2024During the sessionn/an/an/a-1.2% +4.6% +3.2%
Jul 24, 2024During the sessionn/an/an/a+3.9% +5.2% +4.2%
Apr 24, 2024During the sessionn/an/an/a+2.4% +1.9% +2.4%
Jan 24, 2024During the sessionn/an/an/a-3.7% -3.0% +2.0%

Release dates from SEC 8-K filings.

Updated 10/24/2026

Historical statistics for educational purposes only. They are not forecasts and not investment advice.

Price reaction to the news

Latest news on T and what the price did next.

Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.

Latest News

Recent headlines for T.

  • 1d agoNEGATIVE
    Perché le azioni di AT&T, Verizon e T-Mobile scendono nel premarket di venerdì?

    AT&T, Verizon, and T-Mobile shares experienced significant pre-market declines on Friday, with AT&T down approximately 4.6%. This downturn follows a report indicating SpaceX is in negotiations to secure access to at least 80,000 mobile phone tower sites across the United States. The potential deal, if successful, could disrupt the existing market structure by allowing SpaceX to leverage established infrastructure, thereby intensifying competition for the major carriers. Investors are reacting to the increased competitive threat and potential loss of market share or revenue streams for these telecom giants.

  • 2d agoNEUTRAL
    Texas Developer Seeks $3.5 Billion in Debt Financing for AT&T (T) Headquarters

    A developer is seeking $3.5 billion in debt financing for the construction of AT&T Inc.'s new global headquarters in Plano, Texas. This financing is being sought through a specialized debt instrument, indicating a significant capital requirement for the corporate campus project. While the funding is crucial for the development, it does not directly impact AT&T's core operations or financial health in the short term, thus presenting a neutral signal for investors.

  • 3d agoNEGATIVE
    AT&T: azioni -6% nonostante utili migliori; SpaceX il motivo

    AT&T Inc. shares plummeted 6.23% to $21.96, making it the worst performer in the S&P 500, despite reporting better-than-expected third-quarter earnings and raising its 2026 profit outlook. The company also accelerated planned share repurchases. Investors, however, focused on concerns regarding wireless subscriber growth and potential competition from SpaceX's Starlink Mobile service. This overshadowed positive financial results, including $32.3 billion in revenue, a 5.3% year-over-year increase, surpassing analyst consensus. Competitors Verizon Communications and T-Mobile also saw declines.

  • 3d agoPOSITIVE
    AT&T shrugs off SpaceX fears with its own large haul of new internet subscribers

    AT&T reported strong third-quarter results, with its fiber internet business significantly outperforming expectations. The company added a substantial number of new internet subscribers, a key metric indicating growth in its broadband division. This performance suggests AT&T's strategic investments in fiber infrastructure are yielding positive returns and effectively competing in the market, assuaging concerns about potential disruption from new entrants like SpaceX. Investors will view this subscriber growth as a sign of robust demand and AT&T's competitive positioning.

  • 12d agoNEGATIVE
    The SpaceX threat could loom over AT&T’s stock for a prolonged stretch, analyst cautions

    Bernstein analyst Laurent Yoon has downgraded AT&T Inc. (T) and other major telecommunications stocks, citing a prolonged threat from SpaceX's potential entry into the market. Yoon warns of increased volatility for the sector, suggesting that the competitive landscape is set to become more challenging. This cautionary note implies that AT&T's future revenue streams and market share could be negatively impacted by the new competition, potentially affecting its stock performance and investor outlook.

  • 15d agoNEGATIVE
    As AT&T, Verizon and T-Mobile shares fall, Wall Street assesses the growing SpaceX threat

    Shares of AT&T, Verizon, and T-Mobile experienced a decline as Wall Street began evaluating the potential competitive threat posed by SpaceX's expanding capabilities in the wireless sector. While SpaceX is still in its early stages of challenging the established carriers, its strategic moves signal a future competitive landscape shift. Investors are reassessing the long-term market share and revenue implications for the incumbent telecom giants, leading to caution and downward pressure on their stock prices.

  • 9/21/2026POSITIVE
    AT&T’s stock looks like the smartest bet in the wireless sector, analyst says

    An analyst from BNP Paribas has issued a positive rating for AT&T Inc. stock, highlighting that investors have "little to quibble with on the mobile side." This endorsement suggests strong performance and positive outlook for AT&T's wireless division, a key revenue driver. The analyst's confidence implies that the company's strategic decisions and operational execution in the competitive wireless market are yielding favorable results, potentially leading to increased investor interest and a positive impact on the stock price.