AT&T Inc. (T.PA) stock
T.PANYSETelephone Communications (No Radiotelephone)Fiscal year ends December 31Also trades as T, T.PC, TBB
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 22, 2026Score 15/3035% below fair value
$16.03+0.00 (0.00%)
Close on Oct 30, 2026Market cap $109.84BP/E 5.3Yield 6.92%
AT&T operating margin
Operating margin is operating income as a percentage of revenue.
AT&T's operating margin for the twelve months ending Jun 30, 2026 was 20.1%. For fiscal 2025 it was 19.2%, against 15.6% the year before. The highest annual figure on record is 23.9% in fiscal 2013.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 19.2% | +3.7 |
| FY2024 | Dec 31, 2024 | 15.6% | −3.6 |
| FY2023 | Dec 31, 2023 | 19.2% | +23.0 |
| FY2022 | Dec 31, 2022 | -3.8% | −23.1 |
| FY2021 | Dec 31, 2021 | 19.3% | +13.5 |
| FY2020 | Dec 31, 2020 | 5.9% | −9.6 |
| FY2019 | Dec 31, 2019 | 15.4% | +0.1 |
| FY2018 | Dec 31, 2018 | 15.3% | +2.8 |
| FY2017 | Dec 31, 2017 | 12.4% | −1.9 |
| FY2016 | Dec 31, 2016 | 14.4% | −2.5 |
| FY2015 | Dec 31, 2015 | 16.9% | +7.7 |
| FY2014 | Dec 31, 2014 | 9.2% | −14.7 |
| FY2013 | Dec 31, 2013 | 23.9% | +13.7 |
| FY2012 | Dec 31, 2012 | 10.2% | +2.9 |
| FY2011 | Dec 31, 2011 | 7.3% | −8.5 |
| FY2010 | Dec 31, 2010 | 15.7% | −1.4 |
| FY2009 | Dec 31, 2009 | 17.1% | +18.5 |
| FY2008 | Dec 31, 2008 | -1.4% | −18.5 |
| FY2007 | Dec 31, 2007 | 17.2% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q2 FY2026 | Jun 30, 2026 | 22.3% | +1.2 |
| Q1 FY2026 | Mar 31, 2026 | 21.1% | +2.3 |
| Q4 FY2025 | Dec 31, 2025 | 17.3% | +0.8 |
| Q3 FY2025 | Sep 30, 2025 | 19.9% | +12.9 |
| Q2 FY2025 | Jun 30, 2025 | 21.1% | +1.7 |
| Q1 FY2025 | Mar 31, 2025 | 18.8% | −0.7 |
| Q4 FY2024 | Dec 31, 2024 | 16.5% | +0.0 |
| Q3 FY2024 | Sep 30, 2024 | 7.0% | −12.0 |
| Q2 FY2024 | Jun 30, 2024 | 19.3% | −2.1 |
| Q1 FY2024 | Mar 31, 2024 | 19.5% | −0.4 |
| Q4 FY2023 | Dec 31, 2023 | 16.5% | +83.8 |
| Q3 FY2023 | Sep 30, 2023 | 19.1% | −1.0 |
| Q2 FY2023 | Jun 30, 2023 | 21.4% | +4.7 |
| Q1 FY2023 | Mar 31, 2023 | 19.9% | +1.3 |
| Q4 FY2022 | Dec 31, 2022 | -67.3% | −83.0 |
| Q3 FY2022 | Sep 30, 2022 | 20.0% | +0.1 |
| Q2 FY2022 | Jun 30, 2022 | 16.7% | −4.5 |
| Q1 FY2022 | Mar 31, 2022 | 18.6% | −1.4 |
| Q4 FY2021 | Dec 31, 2021 | 15.7% | +67.4 |
| Q3 FY2021 | Sep 30, 2021 | 19.9% | +5.4 |
| Q2 FY2021 | Jun 30, 2021 | 21.2% | +12.6 |
| Q1 FY2021 | Mar 31, 2021 | 20.1% | +2.6 |
| Q4 FY2020 | Dec 31, 2020 | -51.7% | −63.1 |
| Q3 FY2020 | Sep 30, 2020 | 14.5% | −3.2 |
| Q2 FY2020 | Jun 30, 2020 | 8.6% | −8.1 |
| Q1 FY2020 | Mar 31, 2020 | 17.5% | +1.4 |
| Q4 FY2019 | Dec 31, 2019 | 11.4% | −1.5 |
| Q3 FY2019 | Sep 30, 2019 | 17.7% | +1.8 |
| Q2 FY2019 | Jun 30, 2019 | 16.7% | +0.1 |
| Q1 FY2019 | Mar 31, 2019 | 16.1% | −0.2 |
| Q4 FY2018 | Dec 31, 2018 | 12.8% | +9.8 |
| Q3 FY2018 | Sep 30, 2018 | 15.9% | +0.0 |
| Q2 FY2018 | Jun 30, 2018 | 16.6% | +0.0 |
| Q1 FY2018 | Mar 31, 2018 | 16.3% | +0.0 |
| Q4 FY2017 | Dec 31, 2017 | 3.1% | −7.1 |
| Q3 FY2017 | Sep 30, 2017 | 15.9% | +0.2 |
| Q2 FY2017 | Jun 30, 2017 | 16.6% | – |
| Q1 FY2017 | Mar 31, 2017 | 16.3% | – |
| Q4 FY2016 | Dec 31, 2016 | 10.2% | – |
| Q3 FY2016 | Sep 30, 2016 | 15.7% | – |