financial statements

The full income statement, balance sheet, and cash-flow statement for AT&T Inc. (T), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	126B YoY+2.7%	122B YoY-0.1%	122B YoY+1.4%	121B YoY-9.9%	134B YoY-6.3%
Selling, general & administrative	28.9B YoY+1.9%	28.4B YoY-1.6%	28.9B YoY-0.3%	29.0B YoY-2.4%	29.7B YoY-3.7%
Amortization of intangibles	—	—	—	—	4.29B YoY-48.0%
Provision for credit losses	2.27B YoY+15.3%	1.97B YoY+0.0%	1.97B YoY+5.6%	1.86B YoY+50.3%	1.24B YoY-31.0%
Operating income	24.2B YoY+26.8%	19.0B YoY-18.8%	23.5B YoY+611.5%	-4.59B YoY-117.7%	25.9B YoY+209.3%
Interest expense	6.80B YoY+0.7%	6.76B YoY+0.8%	6.70B YoY+9.8%	6.11B YoY-9.1%	6.72B YoY-13.1%
Other non-operating income	7.75B YoY+220.5%	2.42B YoY+70.8%	1.42B YoY-75.6%	5.81B YoY-38.1%	9.39B YoY+962.8%
Equity-method income	1.90B YoY-4.7%	1.99B YoY+18.7%	1.68B YoY-6.5%	1.79B YoY+197.0%	603M YoY+577.5%
Pre-tax income	27.0B YoY+61.7%	16.7B YoY-15.9%	19.8B YoY+741.5%	-3.09B YoY-110.6%	29.2B YoY+8340.4%
Income tax	3.62B YoY-18.5%	4.45B YoY+5.2%	4.22B YoY+11.8%	3.78B YoY-29.9%	5.39B YoY+361.9%
	22.0B YoY+100.5%	10.9B YoY-24.0%	14.4B YoY+268.9%	-8.52B YoY-142.4%	20.1B YoY+488.0%
Income from continuing operations	—	10.7B YoY-24.3%	14.2B YoY+266.1%	-8.55B YoY-138.7%	22.1B YoY+793.4%
Discontinued operations	—	0.00	0.00 YoY+100.0%	-181M YoY+92.1%	-2.30B YoY+0.1%
Net income to non-controlling interest	1.43B YoY+9.8%	1.30B YoY+6.7%	1.22B YoY-16.7%	1.47B YoY+5.1%	1.40B YoY+3.2%
Preferred dividends	64.0M YoY-68.3%	202M YoY-2.9%	208M	—	—
Net income to common	21.9B YoY+103.7%	10.7B YoY-24.3%	14.2B YoY+262.6%	-8.73B YoY-143.9%	19.9B YoY+470.2%
	$3.04 YoY+104.0%	$1.49 YoY-24.4%	$1.97 YoY+274.3%	-$1.13 YoY-141.4%	$2.73 YoY+464.0%
EPS (basic)	$3.04 YoY+104.0%	$1.49 YoY-24.4%	$1.97 YoY+274.3%	-$1.13 YoY-140.8%	$2.77 YoY+469.3%
Weighted-avg shares (basic)	7.17B YoY-0.4%	7.20B YoY+0.3%	7.18B YoY+0.2%	7.17B YoY-0.0%	7.17B YoY+0.2%
Weighted-avg shares (diluted)	7.18B YoY-0.3%	7.20B YoY-0.7%	7.26B YoY-4.3%	7.59B YoY+1.1%	7.50B YoY+0.5%
Dividends per share	$1.11 YoY+0.0%	$1.11 YoY+0.0%	$1.11 YoY+0.0%	$1.11 YoY-46.6%	$2.08 YoY+0.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	48.7B YoY+56.4%	31.2B YoY-14.5%	36.5B YoY+10.1%	33.1B YoY-80.6%	171B YoY+228.3%
Cash & equivalents	18.2B YoY+452.9%	3.30B YoY-50.9%	6.72B YoY+81.6%	3.70B YoY-80.7%	19.2B YoY+142.6%
Short-term investments	1.89B YoY+0.0%	1.89B YoY+0.0%	1.89B YoY+0.0%	1.89B YoY+0.0%	1.89B YoY+0.0%
Accounts receivable	8.84B YoY-8.2%	9.64B YoY-6.3%	10.3B YoY-10.3%	11.5B YoY-6.9%	12.3B YoY-39.1%
Inventory	2.42B YoY+6.6%	2.27B YoY+4.3%	2.18B YoY-30.3%	3.12B YoY-13.1%	3.59B YoY+0.0%
Prepaid expenses	19.2B YoY+20.5%	16.0B YoY-7.6%	17.3B YoY+16.5%	14.8B YoY-8.1%	16.1B YoY-12.1%
Other current assets	17.3B YoY+0.0%	17.3B YoY+0.0%	17.3B YoY+16.5%	14.8B YoY-8.1%	16.1B YoY-12.1%
	420B YoY+6.4%	395B YoY-3.0%	407B YoY+1.0%	403B YoY-27.0%	552B YoY+4.9%
Property, plant & equipment	129B YoY+0.0%	129B YoY+0.0%	129B YoY+0.0%	129B YoY+0.0%	129B YoY+0.0%
Operating lease right-of-use	22.6B YoY+8.3%	20.9B YoY+0.0%	20.9B YoY-4.2%	21.8B YoY-0.0%	21.8B YoY-11.7%
Goodwill	63.4B YoY-0.0%	63.4B YoY-6.5%	67.9B YoY-0.1%	67.9B YoY-26.8%	92.7B YoY-0.1%
Deferred tax assets	72.0M YoY-10.0%	80.0M YoY-3.6%	83.0M YoY-3.5%	86.0M YoY+855.6%	9.00M YoY-95.5%
Other non-current assets	19.3B YoY+8.4%	17.8B YoY-9.0%	19.6B YoY-0.1%	19.6B YoY+1.9%	19.3B YoY-18.5%
	53.8B YoY+14.7%	46.9B YoY-8.3%	51.1B YoY-9.0%	56.2B YoY-47.1%	106B YoY+67.5%
Accounts payable	29.9B YoY+9.0%	27.4B YoY+0.5%	27.3B YoY-12.2%	31.1B YoY+5.4%	29.5B YoY-7.3%
Accrued liabilities	38.5B YoY+8.0%	35.7B YoY-0.5%	35.9B YoY-15.9%	42.6B YoY+9.1%	39.1B YoY-21.9%
Deferred revenue	4.27B YoY+4.1%	4.10B YoY+8.5%	3.78B YoY-3.6%	3.92B YoY-19.0%	4.84B YoY-20.3%
Short-term & current debt	9.01B YoY+77.1%	5.09B YoY-46.3%	9.48B YoY+26.9%	7.47B YoY-69.7%	24.6B YoY+609.5%
Current lease liability	3.58B YoY+1.4%	3.53B YoY+0.3%	3.52B YoY-0.6%	3.55B YoY+4.5%	3.39B YoY-4.1%
Other current liabilities	0.00	0.00	0.00 YoY-100.0%	130M YoY-96.7%	3.97B YoY-35.8%
	279B YoY+0.0%	279B YoY+0.0%	279B YoY+0.0%	279B YoY+0.0%	279B YoY+0.0%
Long-term debt	135B YoY+10.3%	122B YoY-8.5%	133B YoY+0.1%	133B YoY-20.5%	167B YoY+7.9%
Non-current lease liability	18.9B YoY+8.9%	17.4B YoY-1.0%	17.6B YoY-5.8%	18.7B YoY-1.6%	19.0B YoY-14.6%
Deferred tax liabilities	58.3B YoY-1.1%	58.9B YoY+0.5%	58.7B YoY+2.9%	57.0B YoY+6.1%	53.8B YoY-11.1%
Other non-current liabilities	25.1B YoY+5.0%	23.9B YoY+0.9%	23.7B YoY-17.9%	28.8B YoY+14.3%	25.2B YoY-11.0%
Total non-current liabilities	74.5B YoY+0.0%	74.5B YoY+0.0%	74.5B YoY+0.0%	74.5B YoY+0.0%	74.5B YoY+0.0%
	126B YoY+7.0%	118B YoY+0.7%	117B YoY+10.3%	106B YoY-42.1%	184B YoY+2.6%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	7.62B YoY+0.0%	7.62B YoY+0.0%	7.62B YoY+0.0%	7.62B YoY+0.0%	7.62B YoY+0.0%
Additional paid-in capital	107B YoY-2.4%	109B YoY-4.7%	115B YoY-7.4%	124B YoY-5.0%	130B YoY-0.0%
Retained earnings	15.8B YoY+742.8%	1.87B YoY+137.3%	-5.01B YoY+74.2%	-19.4B YoY-145.8%	42.4B YoY+13.1%
Treasury stock	18.5B YoY+23.3%	15.0B YoY-6.9%	16.1B YoY-5.6%	17.1B YoY-1.1%	17.3B YoY-3.5%
Accumulated other comprehensive income	-860M YoY-208.2%	795M YoY-65.4%	2.30B YoY-16.8%	2.77B YoY-21.6%	3.53B YoY-18.5%
Non-controlling interest	16.0B YoY+15.0%	13.9B YoY-1.9%	14.1B YoY+57.9%	8.96B YoY-48.9%	17.5B YoY-0.3%
Total equity incl. non-controlling	126B YoY+7.0%	118B YoY+0.7%	117B YoY+10.3%	106B YoY-42.1%	184B YoY+2.6%
Total liabilities & equity	420B YoY+6.4%	395B YoY-3.0%	407B YoY+1.0%	403B YoY-27.0%	552B YoY+4.9%
Common shares issued	7.62B YoY-0.0%	7.62B YoY+0.0%	7.62B YoY+0.0%	7.62B YoY+0.0%	7.62B YoY+0.0%
Shares outstanding (cover)	7.09B YoY-1.2%	7.18B YoY+0.4%	7.15B YoY+0.3%	7.13B YoY-0.2%	7.14B YoY+0.2%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	40.3B YoY+3.9%	38.8B YoY+1.2%	38.3B YoY+7.0%	35.8B YoY-14.6%	42.0B YoY-2.7%
Depreciation & amortization	20.9B YoY+1.5%	20.6B YoY+9.6%	18.8B YoY+4.2%	18.0B YoY+0.9%	17.9B YoY-20.7%
Deferred income taxes	—	1.57B YoY-48.3%	3.04B YoY+2.1%	2.98B YoY-59.9%	7.41B YoY+245.5%
	-18.8B YoY-7.4%	-17.5B YoY+11.0%	-19.7B	—	-32.1B YoY-136.9%
Capital expenditure	20.8B YoY+2.9%	20.3B YoY+13.5%	17.9B YoY-9.0%	19.6B YoY+26.3%	15.5B YoY+5.8%
Acquisitions	379M YoY-0.3%	380M YoY-87.1%	2.94B YoY-71.2%	10.2B YoY-59.9%	25.5B YoY+1466.3%
Other investing activities	955M YoY+124.7%	425M YoY+406.0%	84.0M YoY+2700.0%	3.00M YoY+150.0%	-6.00M YoY+98.5%
	-6.39B YoY+74.2%	-24.7B YoY-58.2%	-15.6B	—	1.58B YoY+104.9%
Long-term debt issued	14.0B YoY+73726.3%	19.0M YoY-99.8%	10.0B YoY+235.8%	2.98B YoY-70.0%	9.93B YoY-69.0%
Long-term debt repaid	5.53B YoY-46.3%	10.3B YoY-14.5%	12.0B YoY-52.1%	25.1B YoY+726.5%	3.04B YoY-92.2%
Common stock repurchased	4.50B YoY+1993.0%	215M YoY+10.8%	194M YoY-78.2%	890M YoY+340.6%	202M YoY-96.3%
Dividends paid	8.18B YoY-0.3%	8.21B YoY+0.9%	8.14B YoY-17.5%	9.86B YoY-34.6%	15.1B YoY+0.7%
Other financing activities	-1.13B YoY+49.6%	-2.23B YoY+1.6%	-2.27B YoY+29.5%	-3.22B YoY-44.4%	-2.23B YoY+50.4%
Net change in cash	—	—	—	—	11.4B YoY+572.0%
Interest paid	6.63B YoY-7.1%	7.13B YoY-3.2%	7.37B YoY-5.2%	7.77B YoY+3.8%	7.49B YoY-6.6%
Income taxes paid	1.35B YoY-44.9%	2.46B YoY+53.6%	1.60B YoY+170.1%	592M YoY+134.9%	252M YoY-56.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	176B YoY+7.8%	163B YoY+36.2%	120B YoY-8.6%	131B YoY-1.1%	133B YoY-14.3%
P/E	8.0× YoY-46.2%	14.9×	—	6.5× YoY-0.9%	6.6×
P/S	1.4× YoY+4.9%	1.3× YoY+35.5%	1.0× YoY-9.5%	1.1× YoY+10.0%	1.0× YoY-8.5%
P/B	1.4× YoY+0.8%	1.4× YoY+35.7%	1.0× YoY+8.6%	0.9× YoY+29.9%	0.7× YoY-16.4%
P/FCF	9.1× YoY+2.6%	8.8× YoY+45.7%	6.1× YoY-17.7%	7.4× YoY+46.5%	5.0× YoY-7.7%
Earnings yield	12.5% YoY+86.0%	6.7%	—	15.3% YoY+0.9%	15.1%
FCF yield	11.0% YoY-2.5%	11.3% YoY-31.4%	16.5% YoY+21.5%	13.6% YoY-31.7%	19.9% YoY+8.3%
Dividend yield	4.5% YoY-8.3%	4.9% YoY-26.3%	6.6% YoY+9.7%	6.0% YoY-46.1%	11.2% YoY+16.9%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: T's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all T filings on SEC EDGAR → Not investment advice.

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About this data

financial statements