Stock Analysis on Net
Stock Analysis on Net

AT&T Inc. (NYSE:T)

$24.99

Operating Profit Margin
since 2005

Microsoft Excel

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Calculation

AT&T Inc., operating profit margin, long-term trends, calculation

Microsoft Excel
Operating profit margin = 100 × Operating income (loss)1 ÷ Operating revenues1
Dec 31, 2025 = 100 × ÷
Dec 31, 2024 = 100 × ÷
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Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
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Dec 31, 2016 = 100 × ÷
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Dec 31, 2012 = 100 × ÷
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Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

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.

Comparison to Competitors

AT&T Inc., operating profit margin, long-term trends, comparison to competitors

Microsoft Excel
AT&T Inc. T-Mobile US Inc. Verizon Communications Inc.
Dec 31, 2025
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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).