Stock Analysis on Net

AT&T Inc. (NYSE:T)

$24.99

Price to Earnings (P/E)
since 2005

Microsoft Excel

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Calculation

AT&T Inc., P/E, long-term trends, calculation

Microsoft Excel

Based on: 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$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of AT&T Inc. Annual Report.


Share Price Trend
The share price exhibited considerable fluctuation over the period under review. Beginning at $28.09 in early 2006, it rose to a peak of $37.50 in early 2007 before declining sharply to $23.71 by early 2009. Subsequently, the price demonstrated recovery, reaching a local high of $41.48 in early 2017. However, after this peak, the price entered a downward trend, falling to a low of $16.80 by early 2024. The final recorded value shows a rebound to $25.36 by early 2025, indicating some recovery after the drop.
Earnings Per Share (EPS) Pattern
EPS showed significant volatility throughout the examined years. The EPS started at $1.23 in 2006, rising steadily to reach a notable peak of $4.80 in early 2018. Despite this peak, EPS values fluctuated substantially, including several declines to negative values, such as -$0.75 in early 2021 and -$1.22 in early 2023. Nonetheless, EPS recovered from these lows to positive figures again by early 2025, indicating intermittent profitability challenges but an overall capacity for earnings recovery.
Price-to-Earnings (P/E) Ratio Analysis
The P/E ratio demonstrated high variability, reflecting the inconsistent relationship between share price and earnings. The ratio began at 22.77 in early 2006, increased to a peak of 45.61 in early 2012, indicative of high price relative to earnings at that time. Following this, the ratio declined to lower levels around 7.67 in early 2018, coinciding with the EPS peak noted earlier. The data contains some missing values in later years, but the ratio stayed generally in a moderate range, with values such as 8.47 in early 2024 and rising to 16.94 by early 2025. These fluctuations suggest periods of market optimism and pessimism aligned with earnings performance changes.
Overall Observations
The combined trends reflect a company experiencing cyclical financial performance, marked by phases of growth and decline in profitability, as evidenced by volatile EPS and share price movements. The P/E ratio’s variability further highlights the shifting investor expectations relative to earnings. Significant profitability downturns, especially reflected in negative EPS during early 2021 and 2023, were associated with lower share prices and fluctuations in the valuation multiples. The partial recovery in share price and EPS towards 2025 suggests improved financial performance or market sentiment in the most recent period.

Comparison to Competitors


Comparison to Sector (Telecommunication Services)


Comparison to Industry (Communication Services)