Stock Analysis on Net
Stock Analysis on Net

AT&T Inc. (NYSE:T)

Total Asset Turnover 
since 2005

Microsoft Excel

Calculation

AT&T Inc., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Operating revenues1 ÷ Total assets1
Dec 31, 2025 0.30 = 125,648 ÷ 420,198
Dec 31, 2024 0.31 = 122,336 ÷ 394,795
Dec 31, 2023 0.30 = 122,428 ÷ 407,060
Dec 31, 2022 0.30 = 120,741 ÷ 402,853
Dec 31, 2021 0.31 = 168,864 ÷ 551,622
Dec 31, 2020 0.33 = 171,760 ÷ 525,761
Dec 31, 2019 0.33 = 181,193 ÷ 551,669
Dec 31, 2018 0.32 = 170,756 ÷ 531,864
Dec 31, 2017 0.36 = 160,546 ÷ 444,097
Dec 31, 2016 0.41 = 163,786 ÷ 403,821
Dec 31, 2015 0.36 = 146,801 ÷ 402,672
Dec 31, 2014 0.45 = 132,447 ÷ 292,829
Dec 31, 2013 0.46 = 128,752 ÷ 277,787
Dec 31, 2012 0.47 = 127,434 ÷ 272,315
Dec 31, 2011 0.47 = 126,723 ÷ 270,344
Dec 31, 2010 0.46 = 124,280 ÷ 268,488
Dec 31, 2009 0.46 = 123,018 ÷ 268,752
Dec 31, 2008 0.47 = 124,028 ÷ 265,245
Dec 31, 2007 0.43 = 118,928 ÷ 275,644
Dec 31, 2006 0.23 = 63,055 ÷ 270,634
Dec 31, 2005 0.30 = 43,862 ÷ 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 total asset turnover ratio for the period examined exhibits fluctuations, generally remaining within a relatively narrow range. Initial values indicate a decrease from 0.30 in 2005 to 0.23 in 2006, followed by a period of relative stability and then a decline in later years.

Initial Period (2005-2007)
The ratio begins at 0.30 in 2005, decreases to 0.23 in 2006, and then experiences a substantial increase to 0.43 in 2007. This initial fluctuation suggests a changing relationship between operating revenues and total assets during these years. The increase in 2007 is particularly noteworthy.
Period of Stability (2007-2012)
From 2007 through 2012, the ratio remains relatively stable, fluctuating between 0.43 and 0.47. This indicates a consistent level of efficiency in utilizing assets to generate revenue during this timeframe. There are no significant upward or downward trends observed.
Subsequent Decline (2013-2025)
Beginning in 2013, a gradual downward trend is apparent. The ratio declines from 0.45 to 0.30 in 2022, with some minor fluctuations. The most recent years, 2023-2025, show the ratio stabilizing around 0.30-0.31. This suggests a decreasing efficiency in asset utilization over this period, potentially due to increases in assets outpacing revenue growth.
Recent Performance (2020-2025)
The period from 2020 to 2025 demonstrates a consistent ratio around 0.30-0.31. While there is no substantial change, this level represents a decrease compared to the earlier, more stable period between 2007 and 2012. The ratio in 2025 is 0.30, which is lower than the 0.43 observed in 2007.

Overall, the trend suggests a long-term decline in the efficiency of asset utilization, although the rate of decline has slowed in the most recent years. Further investigation would be required to determine the underlying causes of these changes, such as shifts in business strategy, industry dynamics, or asset management practices.

Comparison to Competitors

AT&T Inc., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
AT&T Inc. T-Mobile US Inc. Verizon Communications Inc.
Dec 31, 2025 0.30 0.40 —
Dec 31, 2024 0.31 0.39 0.35
Dec 31, 2023 0.30 0.38 0.35
Dec 31, 2022 0.30 0.38 0.36
Dec 31, 2021 0.31 0.39 0.36
Dec 31, 2020 0.33 0.34 0.41
Dec 31, 2019 0.33 0.52 0.45
Dec 31, 2018 0.32 0.60 0.49
Dec 31, 2017 0.36 0.58 0.49
Dec 31, 2016 0.41 0.57 0.52
Dec 31, 2015 0.36 0.51 0.54
Dec 31, 2014 0.45 0.52 0.55
Dec 31, 2013 0.46 0.49 0.44
Dec 31, 2012 0.47 — 0.51
Dec 31, 2011 0.47 — 0.48
Dec 31, 2010 0.46 — 0.48
Dec 31, 2009 0.46 — 0.47
Dec 31, 2008 0.47 — 0.48
Dec 31, 2007 0.43 — 0.50
Dec 31, 2006 0.23 — 0.47
Dec 31, 2005 0.30 — 0.45

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., total asset turnover, long-term trends, comparison to sector (telecommunication services)

Microsoft Excel
AT&T Inc. Telecommunication Services
Dec 31, 2025 0.30 —
Dec 31, 2024 0.31 0.34
Dec 31, 2023 0.30 0.34
Dec 31, 2022 0.30 0.34
Dec 31, 2021 0.31 0.34
Dec 31, 2020 0.33 0.35
Dec 31, 2019 0.33 0.38
Dec 31, 2018 0.32 0.40
Dec 31, 2017 0.36 0.42
Dec 31, 2016 0.41 0.46
Dec 31, 2015 0.36 0.44
Dec 31, 2014 0.45 0.50
Dec 31, 2013 0.46 0.45
Dec 31, 2012 0.47 0.49
Dec 31, 2011 0.47 0.47
Dec 31, 2010 0.46 0.47
Dec 31, 2009 0.46 0.47
Dec 31, 2008 0.47 0.47
Dec 31, 2007 0.43 0.46
Dec 31, 2006 0.23 0.33
Dec 31, 2005 0.30 0.38

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., total asset turnover, long-term trends, comparison to industry (communication services)

Microsoft Excel
AT&T Inc. Communication Services
Dec 31, 2025 0.30 —
Dec 31, 2024 0.31 0.50
Dec 31, 2023 0.30 0.48
Dec 31, 2022 0.30 0.47
Dec 31, 2021 0.31 0.45
Dec 31, 2020 0.33 0.41
Dec 31, 2019 0.33 0.43
Dec 31, 2018 0.32 0.45
Dec 31, 2017 0.36 0.46
Dec 31, 2016 0.41 0.48
Dec 31, 2015 0.36 0.46
Dec 31, 2014 0.45 0.49
Dec 31, 2013 0.46 0.47
Dec 31, 2012 0.47 0.48
Dec 31, 2011 0.47 0.47
Dec 31, 2010 0.46 0.46
Dec 31, 2009 0.46 0.46
Dec 31, 2008 0.47 0.47
Dec 31, 2007 0.43 0.45
Dec 31, 2006 0.23 0.34
Dec 31, 2005 0.30 0.37

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).