Common-Size Balance Sheet: Assets
Quarterly Data
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- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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AT&T Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
The asset structure exhibits a significant transition beginning in mid-2022, characterized by a strategic shift away from goodwill and toward net property, plant, and equipment (PP&E) and licenses. This reallocation suggests a transition toward a more infrastructure-heavy balance sheet, with a notable reduction in acquired intangible premiums in favor of tangible operational assets and spectrum licenses.
- Liquidity and Current Asset Trends
- Current assets as a percentage of total assets experienced a period of contraction, moving from a peak of 13.32% in March 2022 to a low of 7.46% in March 2023, before recovering to 12.10% by June 2026. This volatility is primarily attributed to cash and cash equivalents, which plummeted from 6.68% in March 2022 to 0.57% by September 2022. A recovery trend in liquidity is observed starting in 2024, with cash levels rising to 4.10% by the end of the analysis period.
- Fixed Asset Intensification
- A substantial increase in the weight of gross property, plant, and equipment occurred in June 2022, jumping from 56.04% to 75.83% and peaking at 88.89% in December 2024. While accumulated depreciation also rose proportionally, peaking at -56.24% in December 2024, the net PP&E ratio increased from approximately 22% in 2021 to a stable range of 31% to 32% from mid-2022 through June 2026.
- Intangible Asset Recomposition
- The composition of intangible assets shifted markedly over the observed period. Goodwill declined steadily from 24.71% in March 2021 to 14.91% by June 2026. In contrast, licenses saw a significant increase, rising from 16.08% to peak at 32.29% in September 2024. The disappearance of noncurrent inventories and theatrical film costs after March 2022 further indicates a fundamental change in the asset base.
- Noncurrent Asset Dominance
- Noncurrent assets consistently constitute the vast majority of the balance sheet, fluctuating between 86.68% and 92.54%. The highest concentration of noncurrent assets was observed between 2022 and 2024, coinciding with the expansion of the company's investment in physical infrastructure and wireless licenses.