AT&T Inc. (T)

Liquidity Analysis

Difficulty: Beginner

Annual Data

Quarterly Data

Liquidity ratios measure the company's ability to meet its short-term obligations.

AT&T Inc., liquidity ratios

Source: Based on data from AT&T Inc. Annual Reports

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	AT&T Inc.'s current ratio improved from 2015 to 2016 and from 2016 to 2017.
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	AT&T Inc.'s quick ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	AT&T Inc.'s cash ratio improved from 2015 to 2016 and from 2016 to 2017.

AT&T Inc., current ratio calculation, comparison to benchmarks

		Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
	Selected Financial Data (USD $ in millions)
	Current assets
	Current liabilities
	Ratio
	Current ratio¹
	Benchmarks
	Current Ratio, Competitors
	Verizon Communications Inc.
	Current Ratio, Sector
	Fixed Line Telecommunications

Source: Based on data from AT&T Inc. Annual Reports

2017 Calculations

¹ Current ratio = Current assets ÷ Current liabilities
= hidden ÷ hidden = hidden

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	AT&T Inc.'s current ratio improved from 2015 to 2016 and from 2016 to 2017.

AT&T Inc., quick ratio calculation, comparison to benchmarks

		Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
	Selected Financial Data (USD $ in millions)
	Cash and cash equivalents
	Accounts receivable, net of allowances for doubtful accounts
	Total quick assets
	Current liabilities
	Ratio
	Quick ratio¹
	Benchmarks
	Quick Ratio, Competitors
	Verizon Communications Inc.
	Quick Ratio, Sector
	Fixed Line Telecommunications

Source: Based on data from AT&T Inc. Annual Reports

2017 Calculations

¹ Quick ratio = Total quick assets ÷ Current liabilities
= hidden ÷ hidden = hidden

Ratio	Description	The company
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	AT&T Inc.'s quick ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.

AT&T Inc., cash ratio calculation, comparison to benchmarks

		Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
	Selected Financial Data (USD $ in millions)
	Cash and cash equivalents
	Total cash assets
	Current liabilities
	Ratio
	Cash ratio¹
	Benchmarks
	Cash Ratio, Competitors
	Verizon Communications Inc.
	Cash Ratio, Sector
	Fixed Line Telecommunications

Source: Based on data from AT&T Inc. Annual Reports

2017 Calculations

¹ Cash ratio = Total cash assets ÷ Current liabilities
= hidden ÷ hidden = hidden

Ratio	Description	The company
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	AT&T Inc.'s cash ratio improved from 2015 to 2016 and from 2016 to 2017.

	AT&T Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality