Operating Profit Margin
since 2005
Calculation
AT&T Inc., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Operating income (loss)1 | ÷ | Operating revenues1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 19.23% | = | 100 | × | 24,162) | ÷ | 125,648) |
| Dec 31, 2024 | 15.57% | = | 100 | × | 19,049) | ÷ | 122,336) |
| Dec 31, 2023 | 19.16% | = | 100 | × | 23,461) | ÷ | 122,428) |
| Dec 31, 2022 | -3.80% | = | 100 | × | (4,587) | ÷ | 120,741) |
| Dec 31, 2021 | 13.83% | = | 100 | × | 23,347) | ÷ | 168,864) |
| Dec 31, 2020 | 3.73% | = | 100 | × | 6,405) | ÷ | 171,760) |
| Dec 31, 2019 | 15.43% | = | 100 | × | 27,955) | ÷ | 181,193) |
| Dec 31, 2018 | 15.28% | = | 100 | × | 26,096) | ÷ | 170,756) |
| Dec 31, 2017 | 13.05% | = | 100 | × | 20,949) | ÷ | 160,546) |
| Dec 31, 2016 | 14.87% | = | 100 | × | 24,347) | ÷ | 163,786) |
| Dec 31, 2015 | 16.88% | = | 100 | × | 24,785) | ÷ | 146,801) |
| Dec 31, 2014 | 8.87% | = | 100 | × | 11,746) | ÷ | 132,447) |
| Dec 31, 2013 | 23.67% | = | 100 | × | 30,479) | ÷ | 128,752) |
| Dec 31, 2012 | 10.20% | = | 100 | × | 12,997) | ÷ | 127,434) |
| Dec 31, 2011 | 7.27% | = | 100 | × | 9,218) | ÷ | 126,723) |
| Dec 31, 2010 | 15.75% | = | 100 | × | 19,573) | ÷ | 124,280) |
| Dec 31, 2009 | 17.47% | = | 100 | × | 21,492) | ÷ | 123,018) |
| Dec 31, 2008 | 18.59% | = | 100 | × | 23,063) | ÷ | 124,028) |
| Dec 31, 2007 | 17.16% | = | 100 | × | 20,404) | ÷ | 118,928) |
| Dec 31, 2006 | 16.32% | = | 100 | × | 10,288) | ÷ | 63,055) |
| Dec 31, 2005 | 14.06% | = | 100 | × | 6,168) | ÷ | 43,862) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The operating profit margin exhibited considerable fluctuation between 2005 and 2025. Initially, the margin demonstrated a generally increasing trend, followed by periods of decline and subsequent recovery. A detailed examination reveals distinct phases in its performance.
- Initial Growth (2005-2008)
- From 2005 to 2008, the operating profit margin increased steadily from 14.06% to 18.59%. This period indicates improving operational efficiency and profitability. The growth suggests effective cost management or increased pricing power during this timeframe.
- Volatility and Decline (2009-2011)
- Following 2008, the margin experienced volatility. It decreased to 17.47% in 2009, then to 15.75% in 2010, before a significant drop to 7.27% in 2011. This decline suggests increased cost pressures, potentially related to market conditions or strategic investments that impacted short-term profitability.
- Recovery and Peak (2012-2013)
- A recovery was observed between 2012 and 2013, with the margin rising from 10.20% to a peak of 23.67%. This substantial improvement indicates successful cost-cutting measures, revenue enhancements, or favorable market dynamics. The 2013 value represents the highest margin observed throughout the analyzed period.
- Subsequent Fluctuations (2014-2019)
- The period from 2014 to 2019 saw continued fluctuations. The margin decreased to 8.87% in 2014, then recovered to a range between 13.05% and 15.43% over the following years. This suggests ongoing operational adjustments and sensitivity to external factors.
- Significant Decline and Rebound (2020-2023)
- A dramatic decline occurred in 2020, with the margin falling to 3.73%, followed by a negative margin of -3.80% in 2022. This represents a period of significant operational challenges. However, a strong rebound was observed in 2023, with the margin increasing to 19.16%. This recovery suggests successful restructuring efforts or a change in market conditions.
- Recent Performance (2024-2025)
- The operating profit margin continued to demonstrate strength, reaching 15.57% in 2024 and 19.23% in 2025. This indicates sustained improvements in profitability and operational performance. The trend suggests a return to a more stable and profitable operating environment.
Overall, the operating profit margin demonstrates a complex pattern of growth, decline, and recovery. While periods of volatility are evident, the recent trend indicates a strengthening of operational profitability.
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Comparison to Competitors
AT&T Inc., operating profit margin, long-term trends, comparison to competitors
| AT&T Inc. | T-Mobile US Inc. | Verizon Communications Inc. | |
|---|---|---|---|
| Dec 31, 2025 | 19.23% | 20.70% | 21.17% |
| Dec 31, 2024 | 15.57% | 22.13% | 21.28% |
| Dec 31, 2023 | 19.16% | 18.16% | 17.08% |
| Dec 31, 2022 | -3.80% | 8.22% | 22.27% |
| Dec 31, 2021 | 13.83% | 8.60% | 24.29% |
| Dec 31, 2020 | 3.73% | 9.70% | 22.45% |
| Dec 31, 2019 | 15.43% | 12.72% | 23.04% |
| Dec 31, 2018 | 15.28% | 12.26% | 17.02% |
| Dec 31, 2017 | 13.05% | 12.04% | 21.75% |
| Dec 31, 2016 | 14.87% | 10.21% | 21.48% |
| Dec 31, 2015 | 16.88% | 6.44% | 25.12% |
| Dec 31, 2014 | 8.87% | 4.79% | 15.42% |
| Dec 31, 2013 | 23.67% | 4.08% | 26.52% |
| Dec 31, 2012 | 10.20% | — | 11.36% |
| Dec 31, 2011 | 7.27% | — | 11.62% |
| Dec 31, 2010 | 15.75% | — | 13.74% |
| Dec 31, 2009 | 17.47% | — | 13.01% |
| Dec 31, 2008 | 18.59% | — | 17.34% |
| Dec 31, 2007 | 17.16% | — | 16.67% |
| Dec 31, 2006 | 16.32% | — | 15.17% |
| Dec 31, 2005 | 14.06% | — | 19.72% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).