Stock Analysis on Net
Stock Analysis on Net

AT&T Inc. (NYSE:T)

Analysis of Solvency Ratios
Quarterly Data

Beginner level

Solvency Ratios (Summary)

AT&T Inc., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Debt Ratios
Debt to equity 0.91 0.96 0.92 0.89 0.90 0.93 0.95 0.96 1.00 1.04 1.12 1.17 1.31 1.15 1.08 1.00 1.01 1.03 1.06 1.03 1.04 1.31 1.12
Debt to equity (including operating lease liability) 1.03 1.09 1.05 1.00 1.02 1.04 1.05 0.96 1.00 1.04 1.12 1.17 1.31 1.15 1.08 1.00 1.01 1.03 1.06 1.03 1.04 1.31 1.12
Debt to capital 0.48 0.49 0.48 0.47 0.47 0.48 0.49 0.49 0.50 0.51 0.53 0.54 0.57 0.54 0.52 0.50 0.50 0.51 0.51 0.51 0.51 0.57 0.53
Debt to capital (including operating lease liability) 0.51 0.52 0.51 0.50 0.51 0.51 0.51 0.49 0.50 0.51 0.53 0.54 0.57 0.54 0.52 0.50 0.50 0.51 0.51 0.51 0.51 0.57 0.53
Debt to assets 0.30 0.31 0.30 0.30 0.30 0.31 0.32 0.33 0.34 0.36 0.37 0.37 0.37 0.34 0.32 0.31 0.31 0.32 0.32 0.31 0.32 0.35 0.31
Debt to assets (including operating lease liability) 0.34 0.35 0.34 0.34 0.34 0.35 0.35 0.33 0.34 0.36 0.37 0.37 0.37 0.34 0.32 0.31 0.31 0.32 0.32 0.31 0.32 0.35 0.31
Financial leverage 3.07 3.11 3.07 2.99 3.00 2.97 2.96 2.89 2.91 2.92 3.06 3.15 3.55 3.37 3.33 3.28 3.26 3.26 3.27 3.28 3.28 3.76 3.56
Coverage Ratios
Interest coverage 2.96 3.05 3.33 3.19 3.48 3.65 3.89 4.13 3.30 3.24 3.35 3.40 4.51 4.86 4.84 5.04 5.75 5.73 5.96 6.02

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-05), 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05).

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 deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Debt to equity (including operating lease liability) ratio 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 Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
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 deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Debt to capital (including operating lease liability) ratio 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 Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. AT&T Inc.’s debt to assets ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Debt to assets (including operating lease liability) ratio 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 Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. AT&T Inc.’s financial leverage ratio increased from Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.

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 Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Debt to Equity

AT&T Inc., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt maturing within one year 5,898  15,576  17,067  11,838  11,608  12,772  11,538  10,255  14,905  21,672  29,322  38,374  8,551  10,831  12,681  9,832  7,982  9,528  8,399  7,636  7,535  8,603  8,181 
Long-term debt, excluding maturing within one year 152,980  153,388  147,202  151,309  153,568  157,790  163,942  166,250  168,513  168,495  133,724  125,972  154,728  132,824  120,568  113,681  117,239  117,308  122,104  118,515  119,395  105,067  88,272 
Total debt 158,878  168,964  164,269  163,147  165,176  170,562  175,480  176,505  183,418  190,167  163,046  164,346  163,279  143,655  133,249  123,513  125,221  126,836  130,503  126,151  126,930  113,670  96,453 
 
Stockholders’ equity attributable to AT&T 175,553  175,896  177,779  184,221  183,049  184,257  185,112  184,089  183,848  182,980  145,920  140,861  124,960  124,725  123,841  123,135  123,611  123,402  123,432  122,671  121,824  86,859  86,499 
Solvency Ratio
Debt to equity1 0.91 0.96 0.92 0.89 0.90 0.93 0.95 0.96 1.00 1.04 1.12 1.17 1.31 1.15 1.08 1.00 1.01 1.03 1.06 1.03 1.04 1.31 1.12
Benchmarks
Debt to Equity, Competitors2
Verizon Communications Inc. 1.78 1.80 1.96 1.82 1.86 2.00 2.03 2.13 2.07 2.20 2.34 2.72 4.38 4.67 4.96 4.80 5.21 5.18 5.89 6.71 8.55 9.96 12.14

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-05), 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05).

1 Q3 2020 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity attributable to AT&T
= 158,878 ÷ 175,553 = 0.91

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 deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Debt to Equity (including Operating Lease Liability)

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

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt maturing within one year 5,898  15,576  17,067  11,838  11,608  12,772  11,538  10,255  14,905  21,672  29,322  38,374  8,551  10,831  12,681  9,832  7,982  9,528  8,399  7,636  7,535  8,603  8,181 
Long-term debt, excluding maturing within one year 152,980  153,388  147,202  151,309  153,568  157,790  163,942  166,250  168,513  168,495  133,724  125,972  154,728  132,824  120,568  113,681  117,239  117,308  122,104  118,515  119,395  105,067  88,272 
Total debt 158,878  168,964  164,269  163,147  165,176  170,562  175,480  176,505  183,418  190,167  163,046  164,346  163,279  143,655  133,249  123,513  125,221  126,836  130,503  126,151  126,930  113,670  96,453 
Operating lease liabilities 22,056  22,230  21,584  21,804  22,288  20,568  18,253  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 180,934  191,194  185,853  184,951  187,464  191,130  193,733  176,505  183,418  190,167  163,046  164,346  163,279  143,655  133,249  123,513  125,221  126,836  130,503  126,151  126,930  113,670  96,453 
 
Stockholders’ equity attributable to AT&T 175,553  175,896  177,779  184,221  183,049  184,257  185,112  184,089  183,848  182,980  145,920  140,861  124,960  124,725  123,841  123,135  123,611  123,402  123,432  122,671  121,824  86,859  86,499 
Solvency Ratio
Debt to equity (including operating lease liability)1 1.03 1.09 1.05 1.00 1.02 1.04 1.05 0.96 1.00 1.04 1.12 1.17 1.31 1.15 1.08 1.00 1.01 1.03 1.06 1.03 1.04 1.31 1.12
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Verizon Communications Inc. 2.11 2.14 2.31 2.17 2.22 2.38 2.43 2.13 2.07 2.20 2.34 2.72 4.38 4.67 4.96 4.80 5.21 5.18 5.89 6.71 8.55 9.96 12.14

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-05), 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05).

1 Q3 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity attributable to AT&T
= 180,934 ÷ 175,553 = 1.03

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity (including operating lease liability) ratio 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 Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Debt to Capital

AT&T Inc., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt maturing within one year 5,898  15,576  17,067  11,838  11,608  12,772  11,538  10,255  14,905  21,672  29,322  38,374  8,551  10,831  12,681  9,832  7,982  9,528  8,399  7,636  7,535  8,603  8,181 
Long-term debt, excluding maturing within one year 152,980  153,388  147,202  151,309  153,568  157,790  163,942  166,250  168,513  168,495  133,724  125,972  154,728  132,824  120,568  113,681  117,239  117,308  122,104  118,515  119,395  105,067  88,272 
Total debt 158,878  168,964  164,269  163,147  165,176  170,562  175,480  176,505  183,418  190,167  163,046  164,346  163,279  143,655  133,249  123,513  125,221  126,836  130,503  126,151  126,930  113,670  96,453 
Stockholders’ equity attributable to AT&T 175,553  175,896  177,779  184,221  183,049  184,257  185,112  184,089  183,848  182,980  145,920  140,861  124,960  124,725  123,841  123,135  123,611  123,402  123,432  122,671  121,824  86,859  86,499 
Total capital 334,431  344,860  342,048  347,368  348,225  354,819  360,592  360,594  367,266  373,147  308,966  305,207  288,239  268,380  257,090  246,648  248,832  250,238  253,935  248,822  248,754  200,529  182,952 
Solvency Ratio
Debt to capital1 0.48 0.49 0.48 0.47 0.47 0.48 0.49 0.49 0.50 0.51 0.53 0.54 0.57 0.54 0.52 0.50 0.50 0.51 0.51 0.51 0.51 0.57 0.53
Benchmarks
Debt to Capital, Competitors2
Verizon Communications Inc. 0.64 0.64 0.66 0.64 0.65 0.67 0.67 0.68 0.67 0.69 0.70 0.73 0.81 0.82 0.83 0.83 0.84 0.84 0.85 0.87 0.90 0.91 0.92

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-05), 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05).

1 Q3 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 158,878 ÷ 334,431 = 0.48

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 deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Debt to Capital (including Operating Lease Liability)

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

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt maturing within one year 5,898  15,576  17,067  11,838  11,608  12,772  11,538  10,255  14,905  21,672  29,322  38,374  8,551  10,831  12,681  9,832  7,982  9,528  8,399  7,636  7,535  8,603  8,181 
Long-term debt, excluding maturing within one year 152,980  153,388  147,202  151,309  153,568  157,790  163,942  166,250  168,513  168,495  133,724  125,972  154,728  132,824  120,568  113,681  117,239  117,308  122,104  118,515  119,395  105,067  88,272 
Total debt 158,878  168,964  164,269  163,147  165,176  170,562  175,480  176,505  183,418  190,167  163,046  164,346  163,279  143,655  133,249  123,513  125,221  126,836  130,503  126,151  126,930  113,670  96,453 
Operating lease liabilities 22,056  22,230  21,584  21,804  22,288  20,568  18,253  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 180,934  191,194  185,853  184,951  187,464  191,130  193,733  176,505  183,418  190,167  163,046  164,346  163,279  143,655  133,249  123,513  125,221  126,836  130,503  126,151  126,930  113,670  96,453 
Stockholders’ equity attributable to AT&T 175,553  175,896  177,779  184,221  183,049  184,257  185,112  184,089  183,848  182,980  145,920  140,861  124,960  124,725  123,841  123,135  123,611  123,402  123,432  122,671  121,824  86,859  86,499 
Total capital (including operating lease liability) 356,487  367,090  363,632  369,172  370,513  375,387  378,845  360,594  367,266  373,147  308,966  305,207  288,239  268,380  257,090  246,648  248,832  250,238  253,935  248,822  248,754  200,529  182,952 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.51 0.52 0.51 0.50 0.51 0.51 0.51 0.49 0.50 0.51 0.53 0.54 0.57 0.54 0.52 0.50 0.50 0.51 0.51 0.51 0.51 0.57 0.53
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Verizon Communications Inc. 0.68 0.68 0.70 0.68 0.69 0.70 0.71 0.68 0.67 0.69 0.70 0.73 0.81 0.82 0.83 0.83 0.84 0.84 0.85 0.87 0.90 0.91 0.92

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-05), 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05).

1 Q3 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 180,934 ÷ 356,487 = 0.51

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital (including operating lease liability) ratio 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 Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Debt to Assets

AT&T Inc., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt maturing within one year 5,898  15,576  17,067  11,838  11,608  12,772  11,538  10,255  14,905  21,672  29,322  38,374  8,551  10,831  12,681  9,832  7,982  9,528  8,399  7,636  7,535  8,603  8,181 
Long-term debt, excluding maturing within one year 152,980  153,388  147,202  151,309  153,568  157,790  163,942  166,250  168,513  168,495  133,724  125,972  154,728  132,824  120,568  113,681  117,239  117,308  122,104  118,515  119,395  105,067  88,272 
Total debt 158,878  168,964  164,269  163,147  165,176  170,562  175,480  176,505  183,418  190,167  163,046  164,346  163,279  143,655  133,249  123,513  125,221  126,836  130,503  126,151  126,930  113,670  96,453 
 
Total assets 538,553  547,898  545,354  551,669  548,796  546,914  548,384  531,864  534,870  534,691  446,343  444,097  443,865  420,795  411,903  403,821  402,975  401,808  403,638  402,672  399,989  326,489  308,028 
Solvency Ratio
Debt to assets1 0.30 0.31 0.30 0.30 0.30 0.31 0.32 0.33 0.34 0.36 0.37 0.37 0.37 0.34 0.32 0.31 0.31 0.32 0.32 0.31 0.32 0.35 0.31
Benchmarks
Debt to Assets, Competitors2
Verizon Communications Inc. 0.39 0.38 0.40 0.38 0.38 0.40 0.40 0.43 0.43 0.44 0.45 0.46 0.46 0.46 0.47 0.44 0.45 0.43 0.45 0.45 0.46 0.47 0.48

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-05), 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05).

1 Q3 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 158,878 ÷ 538,553 = 0.30

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 deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Debt to Assets (including Operating Lease Liability)

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

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt maturing within one year 5,898  15,576  17,067  11,838  11,608  12,772  11,538  10,255  14,905  21,672  29,322  38,374  8,551  10,831  12,681  9,832  7,982  9,528  8,399  7,636  7,535  8,603  8,181 
Long-term debt, excluding maturing within one year 152,980  153,388  147,202  151,309  153,568  157,790  163,942  166,250  168,513  168,495  133,724  125,972  154,728  132,824  120,568  113,681  117,239  117,308  122,104  118,515  119,395  105,067  88,272 
Total debt 158,878  168,964  164,269  163,147  165,176  170,562  175,480  176,505  183,418  190,167  163,046  164,346  163,279  143,655  133,249  123,513  125,221  126,836  130,503  126,151  126,930  113,670  96,453 
Operating lease liabilities 22,056  22,230  21,584  21,804  22,288  20,568  18,253  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 180,934  191,194  185,853  184,951  187,464  191,130  193,733  176,505  183,418  190,167  163,046  164,346  163,279  143,655  133,249  123,513  125,221  126,836  130,503  126,151  126,930  113,670  96,453 
 
Total assets 538,553  547,898  545,354  551,669  548,796  546,914  548,384  531,864  534,870  534,691  446,343  444,097  443,865  420,795  411,903  403,821  402,975  401,808  403,638  402,672  399,989  326,489  308,028 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.34 0.35 0.34 0.34 0.34 0.35 0.35 0.33 0.34 0.36 0.37 0.37 0.37 0.34 0.32 0.31 0.31 0.32 0.32 0.31 0.32 0.35 0.31
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Verizon Communications Inc. 0.46 0.46 0.47 0.46 0.46 0.48 0.48 0.43 0.43 0.44 0.45 0.46 0.46 0.46 0.47 0.44 0.45 0.43 0.45 0.45 0.46 0.47 0.48

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-05), 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05).

1 Q3 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 180,934 ÷ 538,553 = 0.34

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets (including operating lease liability) ratio 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 Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Financial Leverage

AT&T Inc., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Total assets 538,553  547,898  545,354  551,669  548,796  546,914  548,384  531,864  534,870  534,691  446,343  444,097  443,865  420,795  411,903  403,821  402,975  401,808  403,638  402,672  399,989  326,489  308,028 
Stockholders’ equity attributable to AT&T 175,553  175,896  177,779  184,221  183,049  184,257  185,112  184,089  183,848  182,980  145,920  140,861  124,960  124,725  123,841  123,135  123,611  123,402  123,432  122,671  121,824  86,859  86,499 
Solvency Ratio
Financial leverage1 3.07 3.11 3.07 2.99 3.00 2.97 2.96 2.89 2.91 2.92 3.06 3.15 3.55 3.37 3.33 3.28 3.26 3.26 3.27 3.28 3.28 3.76 3.56
Benchmarks
Financial Leverage, Competitors2
Verizon Communications Inc. 4.56 4.68 4.89 4.75 4.83 5.00 5.08 4.98 4.87 5.06 5.21 5.97 9.49 10.04 10.50 10.84 11.71 12.05 13.12 14.89 18.43 21.09 25.25

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-05), 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05).

1 Q3 2020 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity attributable to AT&T
= 538,553 ÷ 175,553 = 3.07

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 Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.

Interest Coverage

AT&T Inc., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Net income attributable to AT&T 2,816  1,281  4,610  2,394  3,700  3,713  4,096  4,858  4,718  5,132  4,662  19,037  3,029  3,915  3,469  2,437  3,328  3,408  3,803  4,006  2,994  3,082  3,263 
Add: Net income attributable to noncontrolling interest 352  282  353  310  249  261  252  272  98  116  97  99  94  99  105  78  90  107  82  80  84  102  76 
Add: Income tax expense 766  935  1,302  434  937  1,099  1,023  615  1,391  1,532  1,382  (20,419) 1,851  2,056  1,804  676  1,775  1,906  2,122  2,221  1,657  1,738  1,389 
Add: Interest expense 1,972  2,041  2,018  2,049  2,083  2,149  2,141  2,112  2,051  2,023  1,771  1,926  1,686  1,395  1,293  1,221  1,224  1,258  1,207  1,143  1,146  932  899 
Earnings before interest and tax (EBIT) 5,906  4,539  8,283  5,187  6,969  7,222  7,512  7,857  8,258  8,803  7,912  643  6,660  7,465  6,671  4,412  6,417  6,679  7,214  7,450  5,881  5,854  5,627 
Solvency Ratio
Interest coverage1 2.96 3.05 3.33 3.19 3.48 3.65 3.89 4.13 3.30 3.24 3.35 3.40 4.51 4.86 4.84 5.04 5.75 5.73 5.96 6.02
Benchmarks
Interest Coverage, Competitors2
Verizon Communications Inc. 5.95 6.08 5.75 5.81 5.27 5.17 5.20 5.06 5.37 5.17 5.47 5.35 6.29 6.45 5.49 5.80 6.12 6.11 6.93 6.74

Based on: 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-05), 10-Q (filing date: 2019-08-05), 10-Q (filing date: 2019-05-06), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-18), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-05).

1 Q3 2020 Calculation
Interest coverage = (EBITQ3 2020 + EBITQ2 2020 + EBITQ1 2020 + EBITQ4 2019) ÷ (Interest expenseQ3 2020 + Interest expenseQ2 2020 + Interest expenseQ1 2020 + Interest expenseQ4 2019)
= (5,906 + 4,539 + 8,283 + 5,187) ÷ (1,972 + 2,041 + 2,018 + 2,049) = 2.96

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 Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.