Price to Sales (P/S)
since 2005
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AT&T Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Analysis of Debt
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Calculation
AT&T Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Operating revenues1 (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 volatility over the years presented. Starting at $28.09 in early 2006, it experienced an upward movement peaking at $37.50 in early 2007, followed by a decline to $23.71 by early 2009. After fluctuating around the low $30s until 2015, it reached a high of $41.48 in early 2017. However, since then, there has been a general downward trend, dropping to $16.80 by early 2024, before a slight recovery to $25.36 in early 2025.
- Sales per Share Composition
- Sales per share demonstrated an overall growth pattern from $11.31 in 2006 to a peak of $26.67 in early 2017. Thereafter, a gradual decline followed with intermittent fluctuations, settling around $17.04 by early 2025. Notably, sales per share nearly doubled between 2006 and 2017, but the period from 2017 onward showed weakening performance in this metric.
- Price to Sales (P/S) Ratio
- The P/S ratio showed marked fluctuations, beginning at 2.48 in 2006 and surging to a high of 3.71 in early 2007, corresponding with the initial share price climb. This was followed by a significant drop to approximately 1.13 by early 2009, aligning with reduced market valuations amid declining share prices. The ratio stabilized between 1.1 and 1.6 from 2010 to 2018, indicating a moderate valuation in relation to sales. From 2018 onwards, the ratio declined below 1.0 at times, hitting a low of 0.98 in early 2024, signaling that the stock was valued at less than its sales per share, before rebounding to 1.49 in 2025.
- Overall Insights
- The data reflects a period of strong sales growth accompanied by volatile market pricing. Peaks in share prices were often followed by corrections that aligned with changes in sales performance and market valuation. The decline in sales per share and P/S ratio after 2017 points to challenges in maintaining revenue growth and investor confidence. The recent recovery in the share price and P/S ratio by 2025 suggests a potential positive market reassessment or operational improvement. This pattern underscores the cyclical nature of the company’s market valuation relative to its financial performance over the observed time frame.
Comparison to Competitors
AT&T Inc., P/S, 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/S, 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/S, 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).