Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

AT&T Inc. (NYSE:T)

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Analysis of Solvency Ratios

Beginner level

Solvency Ratios (Summary)

AT&T Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. AT&T Inc.’s debt to equity ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. AT&T Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. AT&T Inc.’s debt to capital ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. AT&T Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. AT&T Inc.’s debt to assets ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. AT&T Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. AT&T Inc.’s financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. AT&T Inc.’s interest coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. AT&T Inc.’s fixed charge coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Equity

AT&T Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Debt maturing within one year
Long-term debt, excluding maturing within one year
Total debt
 
Stockholders’ equity attributable to AT&T
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
T-Mobile US Inc.
Verizon Communications Inc.
Debt to Equity, Sector
Telecommunication Services
Debt to Equity, Industry
Communication Services

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity attributable to AT&T
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. AT&T Inc.’s debt to equity ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Debt to Equity (including Operating Lease Liability)

AT&T Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Debt maturing within one year
Long-term debt, excluding maturing within one year
Total debt
Current operating lease liabilities (included in Accounts payable and accrued liabilities)
Noncurrent operating lease liabilities
Total debt (including operating lease liability)
 
Stockholders’ equity attributable to AT&T
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
T-Mobile US Inc.
Verizon Communications Inc.
Debt to Equity (including Operating Lease Liability), Sector
Telecommunication Services
Debt to Equity (including Operating Lease Liability), Industry
Communication Services

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity attributable to AT&T
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. AT&T Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Capital

AT&T Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Debt maturing within one year
Long-term debt, excluding maturing within one year
Total debt
Stockholders’ equity attributable to AT&T
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
T-Mobile US Inc.
Verizon Communications Inc.
Debt to Capital, Sector
Telecommunication Services
Debt to Capital, Industry
Communication Services

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. AT&T Inc.’s debt to capital ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Debt to Capital (including Operating Lease Liability)

AT&T Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Debt maturing within one year
Long-term debt, excluding maturing within one year
Total debt
Current operating lease liabilities (included in Accounts payable and accrued liabilities)
Noncurrent operating lease liabilities
Total debt (including operating lease liability)
Stockholders’ equity attributable to AT&T
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
T-Mobile US Inc.
Verizon Communications Inc.
Debt to Capital (including Operating Lease Liability), Sector
Telecommunication Services
Debt to Capital (including Operating Lease Liability), Industry
Communication Services

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. AT&T Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Assets

AT&T Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Debt maturing within one year
Long-term debt, excluding maturing within one year
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
T-Mobile US Inc.
Verizon Communications Inc.
Debt to Assets, Sector
Telecommunication Services
Debt to Assets, Industry
Communication Services

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. AT&T Inc.’s debt to assets ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.

Debt to Assets (including Operating Lease Liability)

AT&T Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Debt maturing within one year
Long-term debt, excluding maturing within one year
Total debt
Current operating lease liabilities (included in Accounts payable and accrued liabilities)
Noncurrent operating lease liabilities
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
T-Mobile US Inc.
Verizon Communications Inc.
Debt to Assets (including Operating Lease Liability), Sector
Telecommunication Services
Debt to Assets (including Operating Lease Liability), Industry
Communication Services

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. AT&T Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Financial Leverage

AT&T Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Total assets
Stockholders’ equity attributable to AT&T
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
T-Mobile US Inc.
Verizon Communications Inc.
Financial Leverage, Sector
Telecommunication Services
Financial Leverage, Industry
Communication Services

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity attributable to AT&T
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. AT&T Inc.’s financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020.

Interest Coverage

AT&T Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net income (loss) attributable to AT&T
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
T-Mobile US Inc.
Verizon Communications Inc.
Interest Coverage, Sector
Telecommunication Services
Interest Coverage, Industry
Communication Services

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. AT&T Inc.’s interest coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Fixed Charge Coverage

AT&T Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Statutory federal income tax rate
Selected Financial Data (US$ in millions)
Net income (loss) attributable to AT&T
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Operating lease cost
Earnings before fixed charges and tax
 
Interest expense
Operating lease cost
Preferred stock dividends
Preferred stock dividends, tax adjustment1
Preferred stock dividends, after tax adjustment
Fixed charges
Solvency Ratio
Fixed charge coverage2
Benchmarks
Fixed Charge Coverage, Competitors3
T-Mobile US Inc.
Verizon Communications Inc.
Fixed Charge Coverage, Sector
Telecommunication Services
Fixed Charge Coverage, Industry
Communication Services

Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17).

1 2020 Calculation
Preferred stock dividends, tax adjustment = (Preferred stock dividends × Statutory federal income tax rate) ÷ (1 − Statutory federal income tax rate)
= ( × ) ÷ (1 − ) =

2 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

3 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. AT&T Inc.’s fixed charge coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.