Stock Analysis on Net
Stock Analysis on Net

AT&T Inc. (NYSE:T)

$24.99

Return on Equity (ROE)
since 2005

Microsoft Excel

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Calculation

AT&T Inc., ROE, long-term trends, calculation

Microsoft Excel
ROE = 100 × Net income (loss) attributable to AT&T1 ÷ Stockholders’ equity attributable to AT&T1
Dec 31, 2024 = 100 × ÷
Dec 31, 2023 = 100 × ÷
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
Dec 31, 2018 = 100 × ÷
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Dec 31, 2005 = 100 × ÷

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$ in millions

Net Income Trend Analysis
The net income attributable to the company displayed considerable variability over the 20-year period. Starting at 4,786 million US dollars in 2005, the figure showed a general upward trend until 2010, peaking at 19,864 million US dollars. Following this peak, net income experienced substantial fluctuations, with notable dips in 2011 (3,944 million US dollars) and again in 2014 (6,224 million US dollars). Post-2014, net income rose substantially, reaching a high of 29,450 million US dollars in 2017. However, there were periods of decline thereafter, including a negative figure in 2020 (-5,176 million US dollars), before recovery in the subsequent years. The most recent figures of 14,400 million in 2023 and 10,948 million in 2024 reflect some stabilization at a moderately high level compared to earlier years.
Stockholders’ Equity Trend Analysis
Stockholders’ equity exhibited a general growth trend from 2005 to 2018, increasing from 54,690 million US dollars to a maximum of 184,221 million US dollars. After 2018, equity levels declined sharply over the next four years, bottoming out at 97,500 million US dollars in 2022. A slight recovery was noted in the subsequent two years, ending at 104,372 million US dollars in 2024. This pattern highlights a period of expansion in shareholder equity followed by a significant contraction, with partial restoration toward the end of the observed timeframe.
Return on Equity (ROE) Analysis
The return on equity (ROE) percentage demonstrated marked volatility. Initially, ROE began at 8.75% in 2005, declining to a low of 3.74% in 2011. From 2011 to 2017, ROE generally recovered, peaking at 20.91% in 2017. Following this peak, ROE again decreased, notably entering negative territory in 2020 at -3.2%. ROE rebounded post-2020 to 13.94% in 2023 and slightly declined to 10.49% by 2024. The fluctuations in ROE correlate with the volatility seen in net income and stockholders’ equity, reflecting varying profitability relative to equity over the period.
Overall Insights
The data reveal a company experiencing significant financial fluctuations over two decades. Net income growth was generally robust in the first decade, followed by periods of volatility and recovery. Stockholders’ equity growth until 2018 implies substantial accumulation of retained earnings and possibly other equity elements, but the sharp decline thereafter indicates notable equity reduction events or losses. The ROE movements reflect this overall financial variability, underscoring periods of strong profitability and intermittent losses. Together, these trends indicate a dynamic financial profile with phases of expansion, contraction, and recovery.

Comparison to Competitors

AT&T Inc., ROE, long-term trends, comparison to competitors

Microsoft Excel
AT&T Inc. T-Mobile US Inc. Verizon Communications Inc.
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 31, 2008
Dec 31, 2007
Dec 31, 2006
Dec 31, 2005

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., ROE, long-term trends, comparison to sector (telecommunication services)

Microsoft Excel
AT&T Inc. Telecommunication Services
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 31, 2008
Dec 31, 2007
Dec 31, 2006
Dec 31, 2005

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., ROE, long-term trends, comparison to industry (communication services)

Microsoft Excel
AT&T Inc. Communication Services
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
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Dec 31, 2007
Dec 31, 2006
Dec 31, 2005

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).