Return on Assets (ROA)
since 2005
Calculation
AT&T Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss) attributable to AT&T1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 5.22% | = | 100 | × | 21,953) | ÷ | 420,198) |
| Dec 31, 2024 | 2.77% | = | 100 | × | 10,948) | ÷ | 394,795) |
| Dec 31, 2023 | 3.54% | = | 100 | × | 14,400) | ÷ | 407,060) |
| Dec 31, 2022 | -2.12% | = | 100 | × | (8,524) | ÷ | 402,853) |
| Dec 31, 2021 | 3.64% | = | 100 | × | 20,081) | ÷ | 551,622) |
| Dec 31, 2020 | -0.98% | = | 100 | × | (5,176) | ÷ | 525,761) |
| Dec 31, 2019 | 2.52% | = | 100 | × | 13,903) | ÷ | 551,669) |
| Dec 31, 2018 | 3.64% | = | 100 | × | 19,370) | ÷ | 531,864) |
| Dec 31, 2017 | 6.63% | = | 100 | × | 29,450) | ÷ | 444,097) |
| Dec 31, 2016 | 3.21% | = | 100 | × | 12,976) | ÷ | 403,821) |
| Dec 31, 2015 | 3.31% | = | 100 | × | 13,345) | ÷ | 402,672) |
| Dec 31, 2014 | 2.13% | = | 100 | × | 6,224) | ÷ | 292,829) |
| Dec 31, 2013 | 6.57% | = | 100 | × | 18,249) | ÷ | 277,787) |
| Dec 31, 2012 | 2.67% | = | 100 | × | 7,264) | ÷ | 272,315) |
| Dec 31, 2011 | 1.46% | = | 100 | × | 3,944) | ÷ | 270,344) |
| Dec 31, 2010 | 7.40% | = | 100 | × | 19,864) | ÷ | 268,488) |
| Dec 31, 2009 | 4.66% | = | 100 | × | 12,535) | ÷ | 268,752) |
| Dec 31, 2008 | 4.85% | = | 100 | × | 12,867) | ÷ | 265,245) |
| Dec 31, 2007 | 4.34% | = | 100 | × | 11,951) | ÷ | 275,644) |
| Dec 31, 2006 | 2.72% | = | 100 | × | 7,356) | ÷ | 270,634) |
| Dec 31, 2005 | 3.29% | = | 100 | × | 4,786) | ÷ | 145,632) |
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 Return on Assets (ROA) for the analyzed period exhibits considerable fluctuation. Initially, ROA demonstrates a decline from 3.29% in 2005 to 2.72% in 2006, followed by a period of growth, peaking at 7.40% in 2010. Subsequent years reveal a volatile pattern, with significant dips in 2011 and 2015, and a negative value recorded in 2020.
- Overall Trend (2005-2010)
- From 2005 through 2010, a generally positive trend in ROA is observed. The ratio increased from 3.29% to a high of 7.40%, indicating improving profitability relative to the asset base. This period coincided with increases in both net income and total assets, with net income experiencing particularly strong growth.
- Volatility (2011-2019)
- The period between 2011 and 2019 is characterized by substantial ROA volatility. The ratio decreased sharply in 2011 to 1.46%, recovered somewhat in subsequent years, reaching 6.63% in 2017, but then declined again to 2.52% in 2019. This fluctuation suggests inconsistent performance in generating profits from assets during this timeframe. Net income also showed considerable variation during these years.
- Recent Performance (2020-2025)
- Recent performance demonstrates further instability. A negative ROA of -0.98% was recorded in 2020, driven by a net loss. The ratio rebounded to 3.64% in 2021, but then experienced another decline to -2.12% in 2022. The final three years of the period (2023-2025) show a recovery, with ROA increasing to 3.54%, 2.77%, and finally 5.22% respectively. This suggests a recent improvement in asset utilization and profitability, although the earlier negative values highlight significant challenges.
- Relationship to Net Income and Total Assets
- The ROA fluctuations are closely linked to changes in both net income and total assets. Periods of high ROA generally correspond with strong net income and relatively stable or increasing asset levels. Conversely, periods of low or negative ROA are often associated with net losses or substantial increases in total assets without a corresponding increase in profitability. The significant increase in total assets between 2005 and 2006, and again between 2014 and 2018, did not always translate into proportional gains in net income, impacting the ROA.
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Comparison to Competitors
AT&T Inc., ROA, long-term trends, comparison to competitors
| AT&T Inc. | T-Mobile US Inc. | Verizon Communications Inc. | |
|---|---|---|---|
| Dec 31, 2025 | 5.22% | 5.01% | 4.25% |
| Dec 31, 2024 | 2.77% | 5.45% | 4.55% |
| Dec 31, 2023 | 3.54% | 4.00% | 3.05% |
| Dec 31, 2022 | -2.12% | 1.23% | 5.60% |
| Dec 31, 2021 | 3.64% | 1.46% | 6.02% |
| Dec 31, 2020 | -0.98% | 1.53% | 5.62% |
| Dec 31, 2019 | 2.52% | 3.99% | 6.60% |
| Dec 31, 2018 | 3.64% | 3.99% | 5.86% |
| Dec 31, 2017 | 6.63% | 6.43% | 11.71% |
| Dec 31, 2016 | 3.21% | 2.22% | 5.38% |
| Dec 31, 2015 | 3.31% | 1.17% | 7.31% |
| Dec 31, 2014 | 2.13% | 0.44% | 4.14% |
| Dec 31, 2013 | 6.57% | 0.07% | 4.19% |
| Dec 31, 2012 | 2.67% | — | 0.39% |
| Dec 31, 2011 | 1.46% | — | 1.04% |
| Dec 31, 2010 | 7.40% | — | 1.16% |
| Dec 31, 2009 | 4.66% | — | 1.61% |
| Dec 31, 2008 | 4.85% | — | 3.18% |
| Dec 31, 2007 | 4.34% | — | 2.95% |
| Dec 31, 2006 | 2.72% | — | 3.28% |
| Dec 31, 2005 | 3.29% | — | 4.40% |
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).
Comparison to Sector (Telecommunication Services)
AT&T Inc., ROA, long-term trends, comparison to sector (telecommunication services)
| AT&T Inc. | Telecommunication Services | |
|---|---|---|
| Dec 31, 2025 | 5.22% | 4.80% |
| Dec 31, 2024 | 2.77% | 4.03% |
| Dec 31, 2023 | 3.54% | 3.45% |
| Dec 31, 2022 | -2.12% | 1.54% |
| Dec 31, 2021 | 3.64% | 4.02% |
| Dec 31, 2020 | -0.98% | 1.51% |
| Dec 31, 2019 | 2.52% | 3.94% |
| Dec 31, 2018 | 3.64% | 4.35% |
| Dec 31, 2017 | 6.63% | 8.30% |
| Dec 31, 2016 | 3.21% | 3.86% |
| Dec 31, 2015 | 3.31% | 4.50% |
| Dec 31, 2014 | 2.13% | 2.76% |
| Dec 31, 2013 | 6.57% | 4.95% |
| Dec 31, 2012 | 2.67% | 1.64% |
| Dec 31, 2011 | 1.46% | 1.27% |
| Dec 31, 2010 | 7.40% | 4.59% |
| Dec 31, 2009 | 4.66% | 3.26% |
| Dec 31, 2008 | 4.85% | 4.13% |
| Dec 31, 2007 | 4.34% | 3.78% |
| Dec 31, 2006 | 2.72% | 2.95% |
| Dec 31, 2005 | 3.29% | 3.88% |
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).
Comparison to Industry (Communication Services)
AT&T Inc., ROA, long-term trends, comparison to industry (communication services)
| AT&T Inc. | Communication Services | |
|---|---|---|
| Dec 31, 2025 | 5.22% | 11.30% |
| Dec 31, 2024 | 2.77% | 10.40% |
| Dec 31, 2023 | 3.54% | 7.93% |
| Dec 31, 2022 | -2.12% | 5.42% |
| Dec 31, 2021 | 3.64% | 8.36% |
| Dec 31, 2020 | -0.98% | 4.70% |
| Dec 31, 2019 | 2.52% | 6.30% |
| Dec 31, 2018 | 3.64% | 7.37% |
| Dec 31, 2017 | 6.63% | 9.22% |
| Dec 31, 2016 | 3.21% | 6.13% |
| Dec 31, 2015 | 3.31% | 5.86% |
| Dec 31, 2014 | 2.13% | 4.94% |
| Dec 31, 2013 | 6.57% | 5.87% |
| Dec 31, 2012 | 2.67% | 3.63% |
| Dec 31, 2011 | 1.46% | 3.13% |
| Dec 31, 2010 | 7.40% | 5.26% |
| Dec 31, 2009 | 4.66% | 4.17% |
| Dec 31, 2008 | 4.85% | 4.53% |
| Dec 31, 2007 | 4.34% | 4.38% |
| Dec 31, 2006 | 2.72% | 3.48% |
| Dec 31, 2005 | 3.29% | 3.57% |
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).