AT&T Inc. (T) Stock Price & Analysis
AT&T Inc. (T) closed at USD 22.74 on Thursday, October 22, 2026, up 3.79% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 21.91; the Oct 22, 2026 session ranged USD 22.03–22.91 on volume of 53,918,238 shares. Market capitalization is $155.82B, with a 52-week range of USD 19.89–29.44 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:15 UTC.
Also available as compact Markdown for AI agents: nexqual.com/T.md
Latest Earnings Results (T)
AT&T Inc. (T) reported Q3 2026 results on Oct 21, 2026, 6:30:00 AM ET: adjusted EPS $0.65 vs. estimate $0.60 (beat), revenue $32.30B vs. estimate $31.65B (beat). Guidance: AT&T is increasing its outlook for 2026 adjusted EPS and lowering its long-term outlook for capital investment. Source: company press release. Nexqual published it 5 min 35 s after release.
| Fiscal period | EPS (reported) | Revenue | Released | Source |
|---|---|---|---|---|
| Q3 2026 | $0.65 (adjusted (non-GAAP) diluted) | $32.30B | Oct 21, 2026, 6:30:00 AM ET · on Nexqual +5 min 35 s | Press release |
Reported actuals captured by Nexqual from SEC 8-K filings and company press releases; each figure confirmed by two independent extraction methods.
Key facts (T)
- Last four reported quarters (through Sep 30, 2026): revenue $129B, net income $13.1B (10.2% margin), free cash flow $17.8B (SEC filings).
- Valuation: P/E 11.9x (avg 10.5x at the last 3 fiscal year-ends), EV/EBITDA 7.0x, net debt $149B.
- Earnings quality: non-operating income -$5.40B (gains on equity investments $70.0M) vs operating income $23.6B over the last four quarters; P/E excluding non-operating income ≈8.9x (estimate: non-operating income taxed at the company's 19% effective rate).
- 3 of 80 tracked superinvestors hold T (13F, Q2 2026): 0 new, 1 added, 1 reduced, 1 unchanged.
- Analysts: Buy (mean 2.29 on a 1–5 scale) (24 analysts), mean target USD 27.8 (range 20–34).
- Total return with dividends: 1Y -3.2% vs S&P 500 +14.9%; 5Y +57.4% vs S&P 500 +80.3%.
- Next earnings: 2026-10-21, EPS estimate USD 0.54, revenue estimate $34.6B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (T)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $134B | $121B | $122B | $122B | $126B | $129B |
| Operating income | $25.9B | -$4.59B | $23.5B | $19.0B | $24.2B | $23.6B |
| Net income | $20.1B | -$8.52B | $14.4B | $10.9B | $22.0B | $13.1B |
| EPS (diluted) | $2.73 | -$1.13 | $1.97 | $1.49 | $3.04 | — |
| Free cash flow | $26.4B | $16.2B | $20.5B | $18.5B | $19.4B | $17.8B |
| Operating margin | 19.3% | -3.8% | 19.2% | 15.6% | 19.2% | 18.3% |
| Net margin | 15.0% | -7.1% | 11.8% | 8.9% | 17.5% | 10.2% |
| Revenue growth | -6.3% | -9.9% | +1.4% | -0.1% | +2.7% | — |
| Cash + short-term investments | $19.2B | $3.70B | $6.72B | $3.30B | $18.2B | — |
| Total debt | $192B | $141B | $143B | $127B | $144B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Sep 30, 2026) (T)
P/E 11.9x · P/E ex non-operating (est.) ≈8.9x · P/S 1.2x · EV/EBITDA 7.0x · EV/Sales 2.4x · P/FCF 8.7x · P/B 1.3x · FCF yield 11.43% · Earnings yield 8.43% · Dividend yield (paid, TTM) 5.09% · Buyback yield (TTM) 5.97% · Net debt $149B · EV $305B
P/E at fiscal year-ends: Dec 2025 8.1x, Dec 2024 15.0x, Dec 2023 8.5x.
Superinvestors (SEC 13F-HR, Q2 2026) (T)
3 of 80 tracked investors hold T. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| John Rogers | Ariel Investments | 0.40% | $39.8M | Added +29.2% |
| Van Den Berg Management I | 0.05% | $236K | Reduced -0.5% | |
| Mairs & Power | Mairs & Power Funds | <0.01% | $234K | Unchanged |
Analysts (T)
Consensus Buy (mean 2.29 on a 1–5 scale), 24 analysts; mean target USD 27.8 (low 20, high 34).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Morgan Stanley | Target lowered | Overweight | $28 → $25 |
| 2026-10-22 | Barclays | Target lowered | Equal-Weight | $24 → $21 |
| 2026-10-22 | Argus Research | Reiterated | Buy | $30 |
| 2026-10-22 | JP Morgan | Target lowered | Overweight | $33 → $31 |
| 2026-10-22 | TD Cowen | Reiterated | Hold | $33 |
| 2026-10-22 | Keybanc | Target lowered | Overweight | $36 → $33 |
| 2026-10-09 | Scotiabank | Target lowered | Sector Perform | $27.5 → $26.5 |
| 2026-10-02 | Scotiabank | Target lowered | Sector Perform | $29.25 → $27.5 |
| 2026-09-28 | Morgan Stanley | Target raised | Overweight | $27 → $28 |
| 2026-09-21 | BNP Paribas | Upgrade | Neutral → Outperform | $26 → $30 |
| 2026-07-23 | Wolfe Research | Upgrade | Peer Perform → Outperform | $29 |
| 2026-07-23 | Morgan Stanley | Target raised | Overweight | $25 → $27 |
Total return (dividends reinvested) (T)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -3.2% | +57.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -3.2% | +9.5% |
| Volatility (annualized) | 27.9% | 24.6% |
| Max drawdown | -28.9% (Mar 2026→Jul 2026) | -29.1% (Jun 2022→Jul 2023) |
T revenue by business segment (quarter ended Sep 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Advanced Connectivity | $29.48B | 91.2% | +7.2% |
| Legacy | $1.52B | 4.7% | -24.5% |
| Latin America | $1.24B | 3.8% | +13.2% |
| Corporate & Other | $82.0M | 0.3% | -16.3% |
| Total revenue | $32.32B | 100% | — |
T revenue by product line (quarter ended Sep 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Service | $26.30B | 81.4% | +3.8% |
| Wireless service | $17.76B | 55.0% | +5.0% |
| Equipment | $6.02B | 18.6% | +12.1% |
| Advanced home internet | $2.98B | 9.2% | +23.4% |
| Business fiber and advanced connectivity | $1.99B | 6.2% | +8.7% |
| Business transitional and other | $1.02B | 3.2% | -14.6% |
| Other service | $148.0M | 0.5% | -8.6% |
| Total revenue | $32.32B | 100% | — |
T revenue by region (fiscal year ended Dec 31, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Domestic equities | $120.22B | 95.7% | +2.9% |
| Mexico | $4.43B | 3.5% | +3.3% |
| Asia Pacific | $395.0M | 0.3% | -14.5% |
| Europe | $382.0M | 0.3% | -13.4% |
| All Other Geographical Areas | $114.0M | 0.1% | -1.7% |
| Region Of Latin America & Caribbean | $110.0M | 0.1% | -26.2% |
| Total revenue | $125.65B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
T suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Gigapower | “Gigapower We hold a 50% interest in our joint venture Gigapower, LLC (Gigapower), which provides a fiber network in select areas to internet service providers and other businesses across the United States.” |
| Partner | Athene Holding Ltd. (ATH-PA) | “In 2023, AT&T and State Street Global Advisors Trust Company, as independent fiduciary of the AT&T Pension Benefit Plan (Plan), entered into a commitment agreement with subsidiaries of Athene Holding Ltd. (Athene) under which AT&T agreed to purchase nonparticipating single premium group annuity contracts that would transfer to Athene $8,067 of the Plan's defined benefit pension obligations related to certain retir…” |
Quoted from the company's 10-K filed Feb 9, 2026.
Companies that name T in their SEC reports
| Relationship to T | Company | Filing | Sentence |
|---|---|---|---|
| supplier | COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL) | 10-K Oct 14, 2026 | “•Leading telecommunications companies, including AT&T Inc., Bell Mobility, Inc., Comcast Corp., Nokia Corp., Rogers Communications Canada Inc., TELUS Communications Inc., Verizon Communications Inc. and Vodafone Public Limited Co.” |
| supplier | IDT CORP (IDT) | 10-K Sep 29, 2026 | “Many of these companies, including AT&T, Verizon, and T-Mobile, are substantially larger and have greater financial, technical, engineering, personnel, and marketing resources, longer operating histories, greater name recognition, and larger customer bases than we do.” |
| customer | SCANSOURCE, INC. (SCSC) | 10-K Aug 20, 2026 | “We provide products and services from approximately 500 suppliers, including key suppliers AT&T, Avaya, Axis, Cisco, Comcast Business, Dell, Elo, Extreme, Five9, Fortinet, Hanwha, Honeywell, HP Poly, HPE/Aruba, HPE/Juniper, Ingenico, Lumen, Microsoft, NiCE, RingCentral, Ubiquiti, Verifone, Verizon, Zebra Technologies and Zoom.” |
| supplier | VIAVI SOLUTIONS INC. (VIAV) | 10-K Aug 13, 2026 | “Examples of our customers include Advanced Micro Devices, Inc., América Móvil, AT&T Inc., British Telecom Openreach, Ciena, Cisco Systems, Inc., Deutsche Telekom AG, Ericsson, Lumen Technologies, Inc., Nokia Corporation and Verizon Communications Inc.” |
| competitor | Anterix Inc. (ATEX) | 10-K Jun 25, 2026 | “Our competitors include spectrum holders, retail wireless network providers, such as Verizon, AT&T, and T-Mobile, private radio operators and other public and private companies, including potential new spectrum entrants who supply spectrum or other communication networks, technologies, products and solutions to our targeted utility and critical infrastructure entities.” |
| supplier | BIO KEY INTERNATIONAL INC (BKYI) | 10-K Jun 12, 2026 | “During his twenty years with the Company, Mr. Sullivan has directly worked with dozens of the Company's customers, including AT&T, Israel Defense Forces, LexisNexis, NCR and Omnicell, as well as large-scale biometric-centered identity management projects that interface daily with millions of corporate and consumer users.” |
| competitor | Digital Turbine, Inc. (APPS) | 10-K May 26, 2026 | “•We compete with other DSP providers, some of which are smaller, privately held companies, while others are large, well-established companies such as the Trade Desk, or divisions of large companies, such as AT&T, Google, and Adobe.” |
| partner | GRUPO TELEVISA, S.A.B. (TV) | 20-F Apr 30, 2026 | “On April 3, 2024, we announced that we had reached an agreement with AT&T to acquire its interest in Sky and become the owner of 100% of Sky's capital stock.” |
| competitor | AMERICA MOVIL SAB DE CV/ (AMX) | 20-F Apr 28, 2026 | “We compete against other providers of wireless, broadband and Pay TV that operate on a multi-national level, such as AT&T Inc.,” |
| competitor | QVC Group, Inc. (QVCG) | 10-K Apr 15, 2026 | “We believe our long-term relationships with major U.S. television distributors, including cable operators (e.g., Comcast, Charter Communications and Cox), satellite television providers (e.g., DIRECTV and DISH) and telecommunications companies (e.g., Verizon and AT&T), provide us with broad distribution, favorable channel positioning and significant competitive advantages.” |
| competitor | OOMA INC (OOMA) | 10-K Apr 3, 2026 | “We face competition from a range of companies, such as Verizon Communications Inc., Granite Telecommunications LLC, MetTel Inc., AT&T Inc. and Napco Security Technologies, Inc., as well as other service providers that bundle their offerings with POTS-related products from POTS replacement equipment manufacturers, such as DataRemote Inc.” |
| competitor | Elauwit Connection, Inc. (ELWT) | 10-K Mar 31, 2026 | “Our competitors, many of whom are also our partners, include a variety of telecom operators, network operators, and tower companies, including AT&T, Spectrum, Comcast, Pavlov Media, Single Digits, WhiteSky and Aerwave, and local operators.” |
| customer | RADCOM LTD (RDCM) | 20-F Mar 31, 2026 | “the global technology direction for AT&T, including network planning, innovation road map and led AT&T Labs, AT&T Foundry,” |
| competitor | BOSTON OMAHA Corp (BOC) | 10-K Mar 30, 2026 | “In the future, leading cable operators, such as Comcast, Charter Communications and Optimum, and other competitors, as well as other corporations providing competitive services, such as AT&T, T-Mobile and Verizon, may seek to enter the markets we serve.” |
| customer | SOUNDTHINKING, INC. (SSTI) | 10-K Mar 30, 2026 | “We rely on wireless carriers, mainly AT&T and Verizon, to provide access to wireless networks for machine-to-machine data transmissions, which are an integral part of our services.” |
T company outlook (results filed Oct 21, 2026)
- “Financial Outlook and Capital Allocation Plan AT&T is increasing its outlook for 2026 adjusted EPS* and lowering its long-term outlook for capital investment.”
- “AT&T maintains its long-term outlook for improved growth in adjusted EBITDA* and adjusted EPS* and higher free cash flow* through 2028, its plans to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases, and an expectation that its net debt-to-adjusted EBITDA ratio* will return to a level consistent with its target in the 2.5x range during 2029.”
- “AT&T's long-term outlook is presented on a continuing operations basis and, for 2027-2028, excludes AT&T Mexico, which it has agreed to sell to Grupo Televisa and Fintech Holdings.”
Quoted word-for-word from the SEC 8-K results press release.
T analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $0.54 | $0.53 | +2.9% | $34.64B | 14 |
| Next quarter (ends Mar 2027) | $0.61 | $0.60 | +1.7% | $31.80B | 12 |
| Current fiscal year (ends Dec 2026) | $2.39 | $2.34 | +2.5% | $129.96B | 19 |
| Next fiscal year (ends Dec 2027) | $2.59 | $2.57 | +1.0% | $130.46B | 22 |
T options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 30.3% | ±4.7% |
| Nov 6, 2026 | 14 | 30.8% | ±5.9% |
| Nov 13, 2026 | 21 | 27.6% | ±6.3% |
| Nov 20, 2026 | 28 | 26.0% | ±6.7% |
| Nov 27, 2026 | 35 | 29.6% | ±8.2% |
| Dec 4, 2026 | 42 | 56.7% | ±14.2% |
| Dec 18, 2026 | 56 | 26.4% | ±9.1% |
| Jan 15, 2027 | 84 | 25.6% | ±10.9% |
30-day implied volatility 26.9% vs 44.7% realized over the last 30 trading days. Put/call ratio (volume) 0.39. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:15 UTC)
| Price | USD 22.74 |
|---|---|
| Change | ▲ 3.79% (up) |
| Previous Close | USD 21.91 |
| Open | USD 22.05 |
| Day Range | USD 22.03 – 22.91 |
| 52-Week Range | USD 19.89 – 29.44 |
| Volume | 53,918,238 shares |
| Market Cap | $155.82B |
| Exchange | NYQ |
Technical Analysis (T)
Nexqual's technical model rates T "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:15 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 40.12 (neutral) |
| vs SMA50 | Below (USD 24.82) |
| MACD | -0.61 (negative) |
Analyst Ratings (T)
Wall Street analysts rate T "Buy" based on 24 analysts, with a mean price target of USD 27.8 (range USD 20–34), per Nexqual as of October 23, 2026 at 09:15 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 24 |
| Mean Target | USD 27.8 |
| High Target | USD 34 |
| Low Target | USD 20 |
| Buy / Hold / Sell | 14 / 9 / 1 |
Earnings (T)
| Next Earnings Date | 2026-10-21 |
|---|---|
| EPS Estimate | USD 0.54 |
| Revenue Estimate | $34.64B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 0.65 vs est 0.6 ▲ beat |
| 2026-06-30 | USD 0.65 vs est 0.59 ▲ beat |
| 2026-03-31 | USD 0.57 vs est 0.55 ▲ beat |
| 2025-12-31 | USD 0.52 vs est 0.47 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:15 UTC.
Financials & Fundamentals (T)
| Total Revenue | $128.85B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +5.30% |
| Gross Margin | +59.74% |
| Operating Margin | +23.10% |
| Profit Margin | +10.19% |
| ROE | +11.61% |
| Debt / Equity | 1.43 |
| Current Ratio | 0.87 |
| Total Cash | $10.77B |
| Total Debt | $178.15B |
| Free Cash Flow (last four quarters to Sep 2026, SEC 10-Q / 10-K) | $17.82B (13.8% of revenue) |
Source: Nexqual, October 23, 2026 at 09:15 UTC.
Financial Health Score (T)
Nexqual rates AT&T Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:15 UTC.
| Growth | Mixed — Revenue +2.7% YoY (annual), slow |
|---|---|
| Profitability | Strong — Gross margin 60%, operating 23% (last 12 months) |
| Balance Sheet | Weak — $10.8B cash and investments vs $159.6B debt (Sep 2026, SEC) |
| Cash Flow | Solid — FCF $17.8B (last 4 quarters to Sep 2026, SEC), 14% margin |
| Efficiency | Mixed — ROE 12%, ROA 4.2% |
Ownership (T)
| Insider Ownership | +0.09% |
|---|---|
| Institutional Ownership | +69.56% |
| Shares Outstanding | 6.85B |
| Float | 6.82B |
| Short % of Float | +1.84% |
Source: Nexqual, October 23, 2026 at 09:15 UTC.
Leadership (T)
AT&T Inc. is led by John T. Stankey, CEO, President & Chairman, per Nexqual as of October 23, 2026 at 09:15 UTC.
| CEO, President & Chairman | John T. Stankey |
|---|---|
| Senior EVP & CFO | Pascal Desroches |
| Chief Operating Officer | Jeffery Scott McElfresh |
| Senior Vice President of Finance & Investor Relations | Brett Joseph Feldman |
| Senior Vice President of Corporate Development | Rick Moore |
Major Backers & Investors (T)
Notable institutional backers of AT&T Inc. include Newport Trust Company, LLC, Bank of America Corporation, Morgan Stanley, according to Nexqual as of October 23, 2026 at 09:15 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Newport Trust Company, LLC | 2.61% |
| Bank of America Corporation | 1.63% |
| Morgan Stanley | 1.55% |
| JPMorgan | 1.41% |
| Fidelity | 1.32% |
| NORGES BANK | 1.16% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 8.58% |
| BlackRock | 8.16% |
| State Street | 4.88% |
| Geode Capital | 2.58% |
Source: Nexqual, October 23, 2026 at 09:15 UTC.
From AT&T Inc.'s Latest SEC 10-K Filing (filed 2026-02-09)
Key Strengths & Strategy (as disclosed to the SEC)
- We provide broadband and internet services to approximately 14.7 million customers, including 10.4 million fiber broadband connections and 1.5 million AIA connections at December 31, 2025.
- Our integrated telecommunications network utilizes different technological platforms to provide instant connectivity at the higher speeds made possible by our fiber network expansion and wireless network enhancements.
- Streaming, augmented reality, "smart" technologies, user generated content and artificial intelligence (AI) are expected to continue to drive greater demand for broadband, which we believe will allow us to capitalize on our fiber and 5G deployments.
- During 2026, we are focused on the core capabilities of our products, our infrastructure and our network.
Legal & Regulatory Risks (Item 1A, quoted)
- Our international operations increase our exposure to political instability, to changes in the international economy and to regulation on our business, and these risks could offset our expected growth opportunities.
- Changes to federal, state and foreign government regulations and decisions in regulatory proceedings, as well as private litigation, could further increase our operating costs and/or alter customer perceptions of our operations, which could materially adversely affect us.
- Unfavorable litigation or governmental investigation results could require us to pay significant amounts or lead to onerous operating procedures.
- Our business may be impacted by changes in tax laws and regulations, judicial interpretations of the same or administrative actions by federal, state, local and foreign taxing authorities.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| TMUS | T-Mobile US, Inc. | USD 158.79 | ▲ 3.28% |
| VZ | Verizon Communications Inc. | USD 45.2 | ▲ 3.76% |
| CMCSA | Comcast Corporation | USD 22.84 | ▲ 3.44% |
| AMX | America Movil, S.A.B. de C.V. | USD 24.98 | ▲ 2.84% |
| CHT | Chunghwa Telecom Co., Ltd. | USD 48.72 | ▲ 2.57% |
| VOD | Vodafone Group Plc | USD 16.12 | ▲ 1.7% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:15 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt