Stock Analysis on Net
Stock Analysis on Net

AT&T Inc. (NYSE:T)

Analysis of Profitability Ratios
Quarterly Data

Beginner level

Profitability Ratios (Summary)

AT&T Inc., profitability 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
Return on Sales
Gross profit margin 54.23% 53.85% 53.56% 53.55% 53.54% 53.70% 53.49% 52.30% 51.61% 51.36% 51.80% 52.61% 52.97% 53.04% 53.06% 54.01% 54.17% 54.14% 54.33%
Operating profit margin 13.84% 15.75% 15.43% 15.79% 15.35% 15.28% 15.28% 12.34% 12.27% 12.74% 13.05% 15.46% 15.34% 14.81% 14.87% 16.84% 16.73% 17.03% 16.88%
Net profit margin 6.84% 8.05% 7.67% 8.97% 9.47% 10.59% 11.34% 20.40% 20.12% 19.25% 18.34% 8.00% 8.12% 7.77% 7.92% 8.87% 8.76% 8.97% 9.09%
Return on Investment
Return on equity (ROE) 6.81% 8.11% 7.55% 8.94% 9.44% 10.16% 10.52% 18.25% 17.41% 21.00% 20.91% 10.28% 10.54% 10.21% 10.54% 11.77% 11.52% 11.25% 10.88%
Return on assets (ROA) 2.19% 2.64% 2.52% 2.98% 3.18% 3.43% 3.64% 6.27% 5.96% 6.87% 6.63% 2.90% 3.12% 3.07% 3.21% 3.61% 3.54% 3.44% 3.31%

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).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. AT&T Inc.’s gross profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. AT&T Inc.’s operating profit margin ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. AT&T Inc.’s net profit margin ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. AT&T Inc.’s ROE improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.
ROA A profitability ratio calculated as net income divided by total assets. AT&T Inc.’s ROA improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Gross Profit Margin

AT&T Inc., gross profit margin 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)
Gross profit 22,967  23,498  24,085  24,434  24,445  24,088  24,684  25,033  21,528  20,092  19,344  20,762  21,583  21,478  20,722  22,000  22,045  22,135  22,428  21,295  17,936  18,096 
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 
Profitability Ratio
Gross profit margin1 54.23% 53.85% 53.56% 53.55% 53.54% 53.70% 53.49% 52.30% 51.61% 51.36% 51.80% 52.61% 52.97% 53.04% 53.06% 54.01% 54.17% 54.14% 54.33%
Benchmarks
Gross Profit Margin, Competitors2
Verizon Communications Inc. 59.10% 58.86% 58.50% 58.60% 58.55% 57.90% 57.58% 57.57% 57.83% 58.48% 59.09% 59.22% 59.26% 59.17% 59.18% 59.52% 59.39% 59.73% 60.07%

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
Gross profit margin = 100 × (Gross profitQ2 2020 + Gross profitQ1 2020 + Gross profitQ4 2019 + Gross profitQ3 2019) ÷ (Operating revenuesQ2 2020 + Operating revenuesQ1 2020 + Operating revenuesQ4 2019 + Operating revenuesQ3 2019)
= 100 × (22,967 + 23,498 + 24,085 + 24,434) ÷ (40,950 + 42,779 + 46,821 + 44,588) = 54.23%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. AT&T Inc.’s gross profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Operating Profit Margin

AT&T Inc., operating profit margin 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 income 3,532  7,486  5,321  7,901  7,500  7,233  6,160  7,269  6,466  6,201  359  6,403  7,323  6,864  4,248  6,408  6,560  7,131  7,532  5,923  5,773  5,557 
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 
Profitability Ratio
Operating profit margin1 13.84% 15.75% 15.43% 15.79% 15.35% 15.28% 15.28% 12.34% 12.27% 12.74% 13.05% 15.46% 15.34% 14.81% 14.87% 16.84% 16.73% 17.03% 16.88%
Benchmarks
Operating Profit Margin, Competitors2
Verizon Communications Inc. 22.17% 22.27% 23.04% 18.55% 18.21% 17.25% 17.02% 20.25% 20.03% 21.55% 21.75% 24.63% 24.24% 21.27% 21.48% 22.50% 22.88% 25.07% 25.12%

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
Operating profit margin = 100 × (Operating incomeQ2 2020 + Operating incomeQ1 2020 + Operating incomeQ4 2019 + Operating incomeQ3 2019) ÷ (Operating revenuesQ2 2020 + Operating revenuesQ1 2020 + Operating revenuesQ4 2019 + Operating revenuesQ3 2019)
= 100 × (3,532 + 7,486 + 5,321 + 7,901) ÷ (40,950 + 42,779 + 46,821 + 44,588) = 13.84%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. AT&T Inc.’s operating profit margin ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Net Profit Margin

AT&T Inc., net profit margin 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)
Net income attributable to AT&T 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 
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 
Profitability Ratio
Net profit margin1 6.84% 8.05% 7.67% 8.97% 9.47% 10.59% 11.34% 20.40% 20.12% 19.25% 18.34% 8.00% 8.12% 7.77% 7.92% 8.87% 8.76% 8.97% 9.09%
Benchmarks
Net Profit Margin, Competitors2
Verizon Communications Inc. 14.76% 14.00% 14.61% 12.26% 12.08% 12.20% 11.87% 24.71% 23.88% 24.37% 23.88% 12.80% 12.88% 9.92% 10.42% 10.96% 11.10% 13.63% 13.58%

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 profit margin = 100 × (Net income attributable to AT&TQ2 2020 + Net income attributable to AT&TQ1 2020 + Net income attributable to AT&TQ4 2019 + Net income attributable to AT&TQ3 2019) ÷ (Operating revenuesQ2 2020 + Operating revenuesQ1 2020 + Operating revenuesQ4 2019 + Operating revenuesQ3 2019)
= 100 × (1,281 + 4,610 + 2,394 + 3,700) ÷ (40,950 + 42,779 + 46,821 + 44,588) = 6.84%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. AT&T Inc.’s net profit margin ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Return on Equity (ROE)

AT&T Inc., ROE 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)
Net income attributable to AT&T 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 
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 
Profitability Ratio
ROE1 6.81% 8.11% 7.55% 8.94% 9.44% 10.16% 10.52% 18.25% 17.41% 21.00% 20.91% 10.28% 10.54% 10.21% 10.54% 11.77% 11.52% 11.25% 10.88%
Benchmarks
ROE, Competitors2
Verizon Communications Inc. 30.54% 30.54% 31.38% 27.34% 27.99% 28.67% 29.22% 59.19% 59.50% 61.43% 69.85% 59.32% 63.23% 52.22% 58.28% 68.54% 75.04% 96.40% 108.83%

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
ROE = 100 × (Net income attributable to AT&TQ2 2020 + Net income attributable to AT&TQ1 2020 + Net income attributable to AT&TQ4 2019 + Net income attributable to AT&TQ3 2019) ÷ Stockholders’ equity attributable to AT&T
= 100 × (1,281 + 4,610 + 2,394 + 3,700) ÷ 175,896 = 6.81%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. AT&T Inc.’s ROE improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Return on Assets (ROA)

AT&T Inc., ROA 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)
Net income attributable to AT&T 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 
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 
Profitability Ratio
ROA1 2.19% 2.64% 2.52% 2.98% 3.18% 3.43% 3.64% 6.27% 5.96% 6.87% 6.63% 2.90% 3.12% 3.07% 3.21% 3.61% 3.54% 3.44% 3.31%
Benchmarks
ROA, Competitors2
Verizon Communications Inc. 6.53% 6.24% 6.60% 5.65% 5.59% 5.64% 5.86% 12.15% 11.76% 11.79% 11.71% 6.25% 6.30% 4.97% 5.38% 5.86% 6.23% 7.35% 7.31%

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
ROA = 100 × (Net income attributable to AT&TQ2 2020 + Net income attributable to AT&TQ1 2020 + Net income attributable to AT&TQ4 2019 + Net income attributable to AT&TQ3 2019) ÷ Total assets
= 100 × (1,281 + 4,610 + 2,394 + 3,700) ÷ 547,898 = 2.19%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. AT&T Inc.’s ROA improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.