Stock Analysis on Net

AT&T Inc. (NYSE:T)

Analysis of Profitability Ratios
Quarterly Data

Microsoft Excel LibreOffice Calc

Profitability Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 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
Return on Sales
Gross profit margin 52.23% 51.75% 52.68% 53.47% 53.87% 54.29% 53.90% 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%
Operating profit margin 4.20% 3.59% 3.81% 3.73% 13.00% 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%
Net profit margin 0.67% -1.11% -1.29% -3.01% 6.42% 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%
Return on Investment
Return on equity (ROE) 0.71% -1.20% -1.35% -3.20% 6.32% 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%
Return on assets (ROA) 0.21% -0.36% -0.41% -0.98% 2.06% 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%

Based on: 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31).

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. gross profit margin ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 not reaching Q1 2021 level.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. AT&T Inc. operating profit margin ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. AT&T Inc. net profit margin ratio improved from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. AT&T Inc. ROE improved from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.
ROA A profitability ratio calculated as net income divided by total assets. AT&T Inc. ROA improved from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.

Gross Profit Margin

AT&T Inc., gross profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 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
Selected Financial Data (US$ in millions)
Gross profit 22,096  22,946  22,852  22,781  22,501  22,967  23,591  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 
Operating revenues 39,922  44,045  43,939  45,691  42,340  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 
Profitability Ratio
Gross profit margin1 52.23% 51.75% 52.68% 53.47% 53.87% 54.29% 53.90% 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%
Benchmarks
Gross Profit Margin, Competitors2
T-Mobile US Inc. 55.06% 56.12% 57.65% 58.67% 60.25% 60.21% 59.75% 58.84% 58.53% 58.30% 57.93% 57.62% 57.25% 56.98% 56.45% 56.39% 56.52% 56.26% 55.96% 55.56%
Verizon Communications Inc. 58.19% 58.66% 59.53% 60.09% 59.49% 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%

Based on: 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31).

1 Q3 2021 Calculation
Gross profit margin = 100 × (Gross profitQ3 2021 + Gross profitQ2 2021 + Gross profitQ1 2021 + Gross profitQ4 2020) ÷ (Operating revenuesQ3 2021 + Operating revenuesQ2 2021 + Operating revenuesQ1 2021 + Operating revenuesQ4 2020)
= 100 × (22,096 + 22,946 + 22,852 + 22,781) ÷ (39,922 + 44,045 + 43,939 + 45,691) = 52.23%

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. gross profit margin ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 not reaching Q1 2021 level.

Operating Profit Margin

AT&T Inc., operating profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 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
Selected Financial Data (US$ in millions)
Operating income 7,109  3,269  7,661  (10,745) 6,132  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 
Operating revenues 39,922  44,045  43,939  45,691  42,340  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 
Profitability Ratio
Operating profit margin1 4.20% 3.59% 3.81% 3.73% 13.00% 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%
Benchmarks
Operating Profit Margin, Competitors2
T-Mobile US Inc. 9.46% 10.74% 9.39% 9.70% 10.27% 9.79% 12.85% 12.72% 12.62% 12.62% 12.53% 12.26% 12.40% 12.36% 12.38% 12.04% 11.79% 11.17% 9.77% 10.21%
Verizon Communications Inc. 23.85% 23.18% 23.15% 22.45% 22.01% 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%

Based on: 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31).

1 Q3 2021 Calculation
Operating profit margin = 100 × (Operating incomeQ3 2021 + Operating incomeQ2 2021 + Operating incomeQ1 2021 + Operating incomeQ4 2020) ÷ (Operating revenuesQ3 2021 + Operating revenuesQ2 2021 + Operating revenuesQ1 2021 + Operating revenuesQ4 2020)
= 100 × (7,109 + 3,269 + 7,661 + -10,745) ÷ (39,922 + 44,045 + 43,939 + 45,691) = 4.20%

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. operating profit margin ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level.

Net Profit Margin

AT&T Inc., net profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 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
Selected Financial Data (US$ in millions)
Net income (loss) attributable to AT&T 5,918  1,570  7,550  (13,883) 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 
Operating revenues 39,922  44,045  43,939  45,691  42,340  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 
Profitability Ratio
Net profit margin1 0.67% -1.11% -1.29% -3.01% 6.42% 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%
Benchmarks
Net Profit Margin, Competitors2
T-Mobile US Inc. 4.21% 4.93% 3.95% 4.48% 5.11% 5.19% 7.80% 7.71% 7.53% 7.40% 7.11% 6.67% 11.62% 11.27% 10.88% 11.17% 5.54% 5.19% 4.39% 3.92%
Verizon Communications Inc. 16.42% 15.05% 14.58% 13.88% 14.26% 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%

Based on: 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31).

1 Q3 2021 Calculation
Net profit margin = 100 × (Net income (loss) attributable to AT&TQ3 2021 + Net income (loss) attributable to AT&TQ2 2021 + Net income (loss) attributable to AT&TQ1 2021 + Net income (loss) attributable to AT&TQ4 2020) ÷ (Operating revenuesQ3 2021 + Operating revenuesQ2 2021 + Operating revenuesQ1 2021 + Operating revenuesQ4 2020)
= 100 × (5,918 + 1,570 + 7,550 + -13,883) ÷ (39,922 + 44,045 + 43,939 + 45,691) = 0.67%

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. net profit margin ratio improved from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.

Return on Equity (ROE)

AT&T Inc., ROE calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 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
Selected Financial Data (US$ in millions)
Net income (loss) attributable to AT&T 5,918  1,570  7,550  (13,883) 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 
Stockholders’ equity attributable to AT&T 163,771  162,296  165,488  161,673  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 
Profitability Ratio
ROE1 0.71% -1.20% -1.35% -3.20% 6.32% 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%
Benchmarks
ROE, Competitors2
T-Mobile US Inc. 4.90% 5.80% 4.59% 4.69% 4.75% 4.26% 12.12% 12.05% 12.09% 12.17% 11.94% 11.68% 20.34% 20.14% 19.71% 20.11% 10.94% 10.38% 8.85% 8.01%
Verizon Communications Inc. 28.61% 27.13% 26.52% 26.24% 28.14% 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%

Based on: 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31).

1 Q3 2021 Calculation
ROE = 100 × (Net income (loss) attributable to AT&TQ3 2021 + Net income (loss) attributable to AT&TQ2 2021 + Net income (loss) attributable to AT&TQ1 2021 + Net income (loss) attributable to AT&TQ4 2020) ÷ Stockholders’ equity attributable to AT&T
= 100 × (5,918 + 1,570 + 7,550 + -13,883) ÷ 163,771 = 0.71%

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. ROE improved from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.

Return on Assets (ROA)

AT&T Inc., ROA calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 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
Selected Financial Data (US$ in millions)
Net income (loss) attributable to AT&T 5,918  1,570  7,550  (13,883) 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 
Total assets 547,107  544,710  546,985  525,761  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 
Profitability Ratio
ROA1 0.21% -0.36% -0.41% -0.98% 2.06% 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%
Benchmarks
ROA, Competitors2
T-Mobile US Inc. 1.66% 1.92% 1.50% 1.53% 1.59% 1.43% 4.03% 3.99% 3.90% 3.87% 3.76% 3.99% 7.06% 6.76% 6.26% 6.43% 3.27% 3.03% 2.47% 2.22%
Verizon Communications Inc. 6.24% 5.72% 5.47% 5.62% 6.16% 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%

Based on: 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31).

1 Q3 2021 Calculation
ROA = 100 × (Net income (loss) attributable to AT&TQ3 2021 + Net income (loss) attributable to AT&TQ2 2021 + Net income (loss) attributable to AT&TQ1 2021 + Net income (loss) attributable to AT&TQ4 2020) ÷ Total assets
= 100 × (5,918 + 1,570 + 7,550 + -13,883) ÷ 547,107 = 0.21%

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. ROA improved from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.