Stock Analysis on Net
Stock Analysis on Net

AT&T Inc. (NYSE:T)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Beginner level

Long-term Activity Ratios (Summary)

AT&T Inc., long-term (investment) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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
Net fixed asset turnover 1.36 1.39 1.39 1.39 1.39 1.34 1.30 1.26 1.22 1.27 1.28 1.27 1.28 1.30 1.31 1.32 1.31 1.25 1.18
Net fixed asset turnover (including operating lease, right-of-use asset) 1.14 1.17 1.18 1.17 1.19 1.17 1.30 1.26 1.22 1.27 1.28 1.27 1.28 1.30 1.31 1.32 1.31 1.25 1.18
Total asset turnover 0.32 0.33 0.33 0.33 0.34 0.32 0.32 0.31 0.30 0.36 0.36 0.36 0.38 0.39 0.41 0.41 0.40 0.38 0.36
Equity turnover 1.00 1.01 0.98 1.00 1.00 0.96 0.93 0.89 0.87 1.09 1.14 1.29 1.30 1.31 1.33 1.33 1.31 1.25 1.20

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. AT&T Inc.’s net fixed asset turnover ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). AT&T Inc.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. AT&T Inc.’s total asset turnover ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. AT&T Inc.’s equity turnover ratio improved from Q4 2019 to Q1 2020 but then slightly deteriorated from Q1 2020 to Q2 2020.

Net Fixed Asset Turnover

AT&T Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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)
Operating revenues 40,950  42,779  46,821  44,588  44,957  44,827  47,993  45,739  38,986  38,038  41,676  39,668  39,837  39,365  41,841  40,890  40,520  40,535  42,119  39,091  33,015  32,576 
Property, plant and equipment, net 128,945  128,921  130,128  131,316  132,074  132,051  131,473  130,348  129,556  125,124  125,222  126,462  126,184  125,292  124,899  123,922  123,537  123,454  124,450  122,836  114,348  113,198 
Long-term Activity Ratio
Net fixed asset turnover1 1.36 1.39 1.39 1.39 1.39 1.34 1.30 1.26 1.22 1.27 1.28 1.27 1.28 1.30 1.31 1.32 1.31 1.25 1.18
Benchmarks
Net Fixed Asset Turnover, Competitors2
Verizon Communications Inc. 1.40 1.42 1.43 1.48 1.49 1.49 1.47 1.49 1.48 1.46 1.42 1.44 1.43 1.45 1.49 1.53 1.56 1.59 1.58

Based on: 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 Q2 2020 Calculation
Net fixed asset turnover = (Operating revenuesQ2 2020 + Operating revenuesQ1 2020 + Operating revenuesQ4 2019 + Operating revenuesQ3 2019) ÷ Property, plant and equipment, net
= (40,950 + 42,779 + 46,821 + 44,588) ÷ 128,945 = 1.36

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. AT&T Inc.’s net fixed asset turnover ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

AT&T Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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)
Operating revenues 40,950  42,779  46,821  44,588  44,957  44,827  47,993  45,739  38,986  38,038  41,676  39,668  39,837  39,365  41,841  40,890  40,520  40,535  42,119  39,091  33,015  32,576 
 
Property, plant and equipment, net 128,945  128,921  130,128  131,316  132,074  132,051  131,473  130,348  129,556  125,124  125,222  126,462  126,184  125,292  124,899  123,922  123,537  123,454  124,450  122,836  114,348  113,198 
Operating lease right-of-use assets 24,692  24,008  24,039  24,477  22,650  20,235  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Property, plant and equipment, net (including operating lease, right-of-use asset) 153,637  152,929  154,167  155,793  154,724  152,286  131,473  130,348  129,556  125,124  125,222  126,462  126,184  125,292  124,899  123,922  123,537  123,454  124,450  122,836  114,348  113,198 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 1.14 1.17 1.18 1.17 1.19 1.17 1.30 1.26 1.22 1.27 1.28 1.27 1.28 1.30 1.31 1.32 1.31 1.25 1.18
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Verizon Communications Inc. 1.13 1.15 1.15 1.18 1.19 1.18 1.47 1.49 1.48 1.46 1.42 1.44 1.43 1.45 1.49 1.53 1.56 1.59 1.58

Based on: 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 Q2 2020 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (Operating revenuesQ2 2020 + Operating revenuesQ1 2020 + Operating revenuesQ4 2019 + Operating revenuesQ3 2019) ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= (40,950 + 42,779 + 46,821 + 44,588) ÷ 153,637 = 1.14

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). AT&T Inc.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Total Asset Turnover

AT&T Inc., total asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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)
Operating revenues 40,950  42,779  46,821  44,588  44,957  44,827  47,993  45,739  38,986  38,038  41,676  39,668  39,837  39,365  41,841  40,890  40,520  40,535  42,119  39,091  33,015  32,576 
Total assets 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 
Long-term Activity Ratio
Total asset turnover1 0.32 0.33 0.33 0.33 0.34 0.32 0.32 0.31 0.30 0.36 0.36 0.36 0.38 0.39 0.41 0.41 0.40 0.38 0.36
Benchmarks
Total Asset Turnover, Competitors2
Verizon Communications Inc. 0.44 0.45 0.45 0.46 0.46 0.46 0.49 0.49 0.49 0.48 0.49 0.49 0.49 0.50 0.52 0.53 0.56 0.54 0.54

Based on: 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 Q2 2020 Calculation
Total asset turnover = (Operating revenuesQ2 2020 + Operating revenuesQ1 2020 + Operating revenuesQ4 2019 + Operating revenuesQ3 2019) ÷ Total assets
= (40,950 + 42,779 + 46,821 + 44,588) ÷ 547,898 = 0.32

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. AT&T Inc.’s total asset turnover ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Equity Turnover

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

Microsoft Excel LibreOffice Calc
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)
Operating revenues 40,950  42,779  46,821  44,588  44,957  44,827  47,993  45,739  38,986  38,038  41,676  39,668  39,837  39,365  41,841  40,890  40,520  40,535  42,119  39,091  33,015  32,576 
Stockholders’ equity attributable to AT&T 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 
Long-term Activity Ratio
Equity turnover1 1.00 1.01 0.98 1.00 1.00 0.96 0.93 0.89 0.87 1.09 1.14 1.29 1.30 1.31 1.33 1.33 1.31 1.25 1.20
Benchmarks
Equity Turnover, Competitors2
Verizon Communications Inc. 2.07 2.18 2.15 2.23 2.32 2.35 2.46 2.40 2.49 2.52 2.92 4.63 4.91 5.26 5.59 6.25 6.76 7.07 8.01

Based on: 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 Q2 2020 Calculation
Equity turnover = (Operating revenuesQ2 2020 + Operating revenuesQ1 2020 + Operating revenuesQ4 2019 + Operating revenuesQ3 2019) ÷ Stockholders’ equity attributable to AT&T
= (40,950 + 42,779 + 46,821 + 44,588) ÷ 175,896 = 1.00

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. AT&T Inc.’s equity turnover ratio improved from Q4 2019 to Q1 2020 but then slightly deteriorated from Q1 2020 to Q2 2020.