Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
AT&T Inc., profitability ratios (quarterly data)
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | AT&T Inc. gross profit margin ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023. |
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | AT&T Inc. operating profit margin ratio deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | AT&T Inc. net profit margin ratio deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | AT&T Inc. ROE deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |
| ROA | A profitability ratio calculated as net income divided by total assets. | AT&T Inc. ROA deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |
Gross Profit Margin
AT&T Inc., gross profit margin calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Gross profit | 18,111) | 18,296) | 18,090) | 17,808) | 17,772) | 17,842) | 17,302) | 16,977) | 21,163) | 22,096) | 22,946) | 22,852) | 22,781) | 22,501) | 22,967) | 23,591) | 24,085) | 24,434) | 24,445) | 24,088) | ||||||
| Operating revenues | 32,022) | 30,350) | 29,917) | 30,139) | 31,343) | 30,043) | 29,643) | 29,712) | 40,958) | 39,922) | 44,045) | 43,939) | 45,691) | 42,340) | 40,950) | 42,779) | 46,821) | 44,588) | 44,957) | 44,827) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| Gross profit margin1 | 59.06% | 59.11% | 58.89% | 58.37% | 57.89% | 56.22% | 55.29% | 53.79% | 52.74% | 52.23% | 51.75% | 52.68% | 53.47% | 53.87% | 54.29% | 53.90% | 53.56% | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||
| T-Mobile US Inc. | 61.57% | 61.13% | 59.25% | 56.78% | 54.50% | 52.57% | 52.67% | 53.09% | 54.31% | 55.06% | 56.12% | 57.65% | 58.67% | 60.25% | 60.21% | 59.75% | 58.84% | — | — | — | ||||||
| Verizon Communications Inc. | 59.03% | 58.64% | 58.05% | 57.20% | 56.79% | 56.97% | 57.35% | 57.46% | 57.86% | 58.19% | 58.66% | 59.53% | 60.09% | 59.49% | 59.10% | 58.86% | 58.50% | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Gross profit margin = 100
× (Gross profitQ4 2023
+ Gross profitQ3 2023
+ Gross profitQ2 2023
+ Gross profitQ1 2023)
÷ (Operating revenuesQ4 2023
+ Operating revenuesQ3 2023
+ Operating revenuesQ2 2023
+ Operating revenuesQ1 2023)
= 100 × (18,111 + 18,296 + 18,090 + 17,808)
÷ (32,022 + 30,350 + 29,917 + 30,139)
= 59.06%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | AT&T Inc. gross profit margin ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023. |
Operating Profit Margin
AT&T Inc., operating profit margin calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Operating income (loss) | 5,271) | 5,782) | 6,406) | 6,002) | (21,092) | 6,012) | 4,956) | 5,537) | 5,308) | 7,109) | 3,269) | 7,661) | (10,745) | 6,132) | 3,532) | 7,486) | 5,321) | 7,901) | 7,500) | 7,233) | ||||||
| Operating revenues | 32,022) | 30,350) | 29,917) | 30,139) | 31,343) | 30,043) | 29,643) | 29,712) | 40,958) | 39,922) | 44,045) | 43,939) | 45,691) | 42,340) | 40,950) | 42,779) | 46,821) | 44,588) | 44,957) | 44,827) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| Operating profit margin1 | 19.16% | -2.38% | -2.20% | -3.40% | -3.80% | 16.73% | 16.34% | 13.72% | 13.83% | 4.20% | 3.59% | 3.81% | 3.73% | 13.00% | 13.84% | 15.75% | 15.43% | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||
| T-Mobile US Inc. | 18.16% | 17.27% | 14.28% | 10.29% | 8.22% | 6.07% | 6.43% | 8.15% | 8.60% | 9.46% | 10.74% | 9.39% | 9.70% | 10.27% | 9.79% | 12.85% | 12.72% | — | — | — | ||||||
| Verizon Communications Inc. | 17.08% | 22.00% | 22.17% | 22.21% | 22.27% | 22.74% | 23.72% | 24.18% | 24.29% | 23.85% | 23.18% | 23.15% | 22.45% | 22.01% | 22.17% | 22.27% | 23.04% | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Operating profit margin = 100
× (Operating income (loss)Q4 2023
+ Operating income (loss)Q3 2023
+ Operating income (loss)Q2 2023
+ Operating income (loss)Q1 2023)
÷ (Operating revenuesQ4 2023
+ Operating revenuesQ3 2023
+ Operating revenuesQ2 2023
+ Operating revenuesQ1 2023)
= 100 × (5,271 + 5,782 + 6,406 + 6,002)
÷ (32,022 + 30,350 + 29,917 + 30,139)
= 19.16%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | AT&T Inc. operating profit margin ratio deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |
Net Profit Margin
AT&T Inc., net profit margin calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Net income (loss) attributable to AT&T | 2,188) | 3,495) | 4,489) | 4,228) | (23,517) | 6,026) | 4,157) | 4,810) | 5,043) | 5,918) | 1,570) | 7,550) | (13,883) | 2,816) | 1,281) | 4,610) | 2,394) | 3,700) | 3,713) | 4,096) | ||||||
| Operating revenues | 32,022) | 30,350) | 29,917) | 30,139) | 31,343) | 30,043) | 29,643) | 29,712) | 40,958) | 39,922) | 44,045) | 43,939) | 45,691) | 42,340) | 40,950) | 42,779) | 46,821) | 44,588) | 44,957) | 44,827) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| Net profit margin1 | 11.76% | -9.29% | -7.22% | -7.52% | -7.06% | 15.37% | 14.21% | 11.21% | 11.89% | 0.67% | -1.11% | -1.29% | -3.01% | 6.42% | 6.84% | 8.05% | 7.67% | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||
| T-Mobile US Inc. | 10.59% | 9.93% | 7.82% | 4.83% | 3.25% | 1.92% | 2.14% | 3.48% | 3.77% | 4.21% | 4.93% | 3.95% | 4.48% | 5.11% | 5.19% | 7.80% | 7.71% | — | — | — | ||||||
| Verizon Communications Inc. | 8.67% | 15.58% | 15.58% | 15.85% | 15.53% | 14.22% | 15.48% | 15.93% | 16.51% | 16.42% | 15.05% | 14.58% | 13.88% | 14.26% | 14.76% | 14.00% | 14.61% | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Net profit margin = 100
× (Net income (loss) attributable to AT&TQ4 2023
+ Net income (loss) attributable to AT&TQ3 2023
+ Net income (loss) attributable to AT&TQ2 2023
+ Net income (loss) attributable to AT&TQ1 2023)
÷ (Operating revenuesQ4 2023
+ Operating revenuesQ3 2023
+ Operating revenuesQ2 2023
+ Operating revenuesQ1 2023)
= 100 × (2,188 + 3,495 + 4,489 + 4,228)
÷ (32,022 + 30,350 + 29,917 + 30,139)
= 11.76%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | AT&T Inc. net profit margin ratio deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |
Return on Equity (ROE)
AT&T Inc., ROE calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Net income (loss) attributable to AT&T | 2,188) | 3,495) | 4,489) | 4,228) | (23,517) | 6,026) | 4,157) | 4,810) | 5,043) | 5,918) | 1,570) | 7,550) | (13,883) | 2,816) | 1,281) | 4,610) | 2,394) | 3,700) | 3,713) | 4,096) | ||||||
| Stockholders’ equity attributable to AT&T | 103,297) | 103,703) | 101,903) | 99,396) | 97,500) | 122,406) | 117,746) | 169,036) | 166,332) | 163,771) | 162,296) | 165,488) | 161,673) | 175,553) | 175,896) | 177,779) | 184,221) | 183,049) | 184,257) | 185,112) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| ROE1 | 13.94% | -10.90% | -8.61% | -9.16% | -8.74% | 16.37% | 16.92% | 10.26% | 12.07% | 0.71% | -1.20% | -1.35% | -3.20% | 6.32% | 6.81% | 8.11% | 7.55% | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||
| T-Mobile US Inc. | 12.85% | 12.03% | 9.35% | 5.70% | 3.72% | 2.19% | 2.45% | 4.01% | 4.38% | 4.90% | 5.80% | 4.59% | 4.69% | 4.75% | 4.26% | 12.12% | 12.05% | — | — | — | ||||||
| Verizon Communications Inc. | 12.57% | 21.38% | 22.10% | 23.24% | 23.32% | 22.06% | 24.18% | 25.55% | 26.98% | 28.61% | 27.13% | 26.52% | 26.24% | 28.14% | 30.54% | 30.54% | 31.38% | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
ROE = 100
× (Net income (loss) attributable to AT&TQ4 2023
+ Net income (loss) attributable to AT&TQ3 2023
+ Net income (loss) attributable to AT&TQ2 2023
+ Net income (loss) attributable to AT&TQ1 2023)
÷ Stockholders’ equity attributable to AT&T
= 100 × (2,188 + 3,495 + 4,489 + 4,228)
÷ 103,297 = 13.94%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | AT&T Inc. ROE deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |
Return on Assets (ROA)
AT&T Inc., ROA calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Net income (loss) attributable to AT&T | 2,188) | 3,495) | 4,489) | 4,228) | (23,517) | 6,026) | 4,157) | 4,810) | 5,043) | 5,918) | 1,570) | 7,550) | (13,883) | 2,816) | 1,281) | 4,610) | 2,394) | 3,700) | 3,713) | 4,096) | ||||||
| Total assets | 407,060) | 406,698) | 408,453) | 400,873) | 402,853) | 426,463) | 426,433) | 577,195) | 551,622) | 547,107) | 544,710) | 546,985) | 525,761) | 538,553) | 547,898) | 545,354) | 551,669) | 548,796) | 546,914) | 548,384) | ||||||
| Profitability Ratio | ||||||||||||||||||||||||||
| ROA1 | 3.54% | -2.78% | -2.15% | -2.27% | -2.12% | 4.70% | 4.67% | 3.00% | 3.64% | 0.21% | -0.36% | -0.41% | -0.98% | 2.06% | 2.19% | 2.64% | 2.52% | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||
| T-Mobile US Inc. | 4.00% | 3.73% | 2.92% | 1.82% | 1.23% | 0.72% | 0.82% | 1.33% | 1.46% | 1.66% | 1.92% | 1.50% | 1.53% | 1.59% | 1.43% | 4.03% | 3.99% | — | — | — | ||||||
| Verizon Communications Inc. | 3.05% | 5.43% | 5.54% | 5.71% | 5.60% | 5.14% | 5.62% | 5.85% | 6.02% | 6.24% | 5.72% | 5.47% | 5.62% | 6.16% | 6.53% | 6.24% | 6.60% | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
ROA = 100
× (Net income (loss) attributable to AT&TQ4 2023
+ Net income (loss) attributable to AT&TQ3 2023
+ Net income (loss) attributable to AT&TQ2 2023
+ Net income (loss) attributable to AT&TQ1 2023)
÷ Total assets
= 100 × (2,188 + 3,495 + 4,489 + 4,228)
÷ 407,060 = 3.54%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROA | A profitability ratio calculated as net income divided by total assets. | AT&T Inc. ROA deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |