Price to Earnings (P/E)
since 2005
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AT&T Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Calculation
AT&T Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) attributable to common stock1 (in millions) | ÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 12, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2012 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2006 | = | ÷ | = | ÷ |
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
AT&T Inc., P/E, long-term trends, comparison to competitors
| AT&T Inc. | T-Mobile US Inc. | Verizon Communications Inc. | |
|---|---|---|---|
| Feb 12, 2025 | |||
| Feb 23, 2024 | |||
| Feb 13, 2023 | |||
| Feb 16, 2022 | |||
| Feb 25, 2021 | |||
| Feb 20, 2020 | |||
| Feb 20, 2019 | |||
| Feb 20, 2018 | |||
| Feb 17, 2017 | |||
| Feb 18, 2016 | |||
| Feb 20, 2015 | |||
| Feb 21, 2014 | |||
| Feb 22, 2013 | |||
| Feb 24, 2012 | |||
| Mar 1, 2011 | |||
| Feb 25, 2010 | |||
| Feb 25, 2009 | |||
| Feb 27, 2008 | |||
| Feb 26, 2007 | |||
| Mar 1, 2006 |
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).
Comparison to Sector (Telecommunication Services)
AT&T Inc., P/E, long-term trends, comparison to sector (telecommunication services)
| AT&T Inc. | Telecommunication Services | |
|---|---|---|
| Feb 12, 2025 | ||
| Feb 23, 2024 | ||
| Feb 13, 2023 | ||
| Feb 16, 2022 | ||
| Feb 25, 2021 | ||
| Feb 20, 2020 | ||
| Feb 20, 2019 | ||
| Feb 20, 2018 | ||
| Feb 17, 2017 | ||
| Feb 18, 2016 | ||
| Feb 20, 2015 | ||
| Feb 21, 2014 | ||
| Feb 22, 2013 | ||
| Feb 24, 2012 | ||
| Mar 1, 2011 | ||
| Feb 25, 2010 | ||
| Feb 25, 2009 | ||
| Feb 27, 2008 | ||
| Feb 26, 2007 | ||
| Mar 1, 2006 |
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).
Comparison to Industry (Communication Services)
AT&T Inc., P/E, long-term trends, comparison to industry (communication services)
| AT&T Inc. | Communication Services | |
|---|---|---|
| Feb 12, 2025 | ||
| Feb 23, 2024 | ||
| Feb 13, 2023 | ||
| Feb 16, 2022 | ||
| Feb 25, 2021 | ||
| Feb 20, 2020 | ||
| Feb 20, 2019 | ||
| Feb 20, 2018 | ||
| Feb 17, 2017 | ||
| Feb 18, 2016 | ||
| Feb 20, 2015 | ||
| Feb 21, 2014 | ||
| Feb 22, 2013 | ||
| Feb 24, 2012 | ||
| Mar 1, 2011 | ||
| Feb 25, 2010 | ||
| Feb 25, 2009 | ||
| Feb 27, 2008 | ||
| Feb 26, 2007 | ||
| Mar 1, 2006 |
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).