AT&T
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
13.1212.5311.1013.03
Price/Sales ratio
1.661.641.641.66
Earnings per Share (EPS)
$2.21$2.31$2.61$2.22

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
20.4810.9515.256.147.5315.52-30.016.62-15.478.3618.177.53
Price/Sales ratio
0.990.991.201.120.851.190.900.991.090.981.340.85
Price/Book Value ratio
1.471.191.601.280.791.170.960.801.351.161.600.79
Price/Cash Flow ratio
4.214.075.034.753.344.433.603.174.113.144.303.34
Price/Free Cash Flow ratio
13.018.7711.1010.416.397.385.655.2310.645.888.106.39
Price/Earnings Growth ratio
-0.320.12-1.330.04-0.18-0.460.21-0.010.10-0.0320.66-0.18
Dividend Yield
7.23%6.97%5.95%6.65%9.18%6.89%9.62%11.32%7.47%6.75%4.85%6.89%
Profitability Indicator Ratios
Gross Profit Margin
54.58%54.32%52.87%51.53%53.48%53.56%53.47%54.93%57.88%59.05%59.90%53.48%
Operating Profit Margin
9.22%16.88%14.37%12.43%15.28%15.42%3.72%19.32%-3.79%19.16%15.99%15.28%
Pretax Profit Margin
7.81%14.09%12.09%9.42%14.56%10.19%-1.66%21.76%-2.56%16.21%11.73%10.19%
Net Profit Margin
4.86%9.09%7.92%18.34%11.34%7.67%-3.01%14.98%-7.05%11.76%7.41%7.67%
Effective Tax Rate
34.94%33.85%32.70%-97.15%19.78%18.91%-33.78%18.49%-122.17%21.28%27.21%19.78%
Return on Assets
2.17%3.31%3.21%6.63%3.64%2.52%-0.98%3.64%-2.11%3.53%2.30%2.52%
Return On Equity
7.18%10.87%10.53%20.90%10.52%7.54%-3.20%12.07%-8.74%13.94%8.71%7.54%
Return on Capital Employed
4.70%6.98%6.66%5.50%5.58%5.79%1.38%5.81%-1.32%6.59%5.53%5.79%
Liquidity Ratios
Current Ratio
0.850.750.750.970.790.790.81N/AN/AN/A0.730.79
Quick Ratio
0.840.660.710.940.760.750.761.570.530.670.670.75
Cash ratio
0.230.100.110.620.080.170.150.180.060.130.060.17
Days of Sales Outstanding
40.0341.1037.4237.5659.2445.5942.9540.5634.6630.6727.1145.59
Days of Inventory outstanding
11.7321.959.6410.439.4012.4216.8720.0922.4115.8518.869.40
Operating Cycle
51.7663.0647.0647.9968.6558.0259.8360.6557.0746.5245.9758.02
Days of Payables Outstanding
90.93114.58104.15114.64124.17128.57145.39164.75223.25198.86238.18124.17
Cash Conversion Cycle
-39.16-51.52-57.08-66.64-55.51-70.55-85.56-104.09-166.17-152.33-192.21-70.55
Debt Ratios
Debt Ratio
0.280.310.300.370.330.290.290.320.330.330.320.32
Debt Equity Ratio
0.931.021.001.160.950.870.971.081.391.311.260.95
Long-term Debt to Capitalization
0.460.490.480.470.470.440.480.470.560.540.550.47
Total Debt to Capitalization
0.480.500.500.530.480.460.490.520.580.560.550.48
Interest Coverage Ratio
3.836.015.033.783.283.493.19N/AN/AN/A2.863.49
Cash Flow to Debt Ratio
0.370.280.310.230.240.300.270.230.230.280.290.24
Company Equity Multiplier
3.303.283.273.152.882.993.253.314.133.943.842.88
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.230.240.240.230.250.260.250.310.260.310.310.25
Free Cash Flow / Operating Cash Flow Ratio
0.320.460.450.450.520.600.630.600.380.530.520.52
Cash Flow Coverage Ratio
0.370.280.310.230.240.300.270.230.230.280.290.24
Short Term Coverage Ratio
5.174.694.000.994.254.1612.421.434.214.0414.504.25
Dividend Payout Ratio
148.27%76.43%90.91%40.87%69.23%107.08%-288.94%75.03%-115.66%56.49%90.44%69.23%