AT&T Inc. (T)

AT&T Inc., EBITDA calculation

USD $ in millions

	12 months ended	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
	Net income attributable to AT&T
	Add: Net income attributable to noncontrolling interest
	Add: Income tax expense
	Earnings before tax (EBT)
	Add: Interest expense
	Earnings before interest and tax (EBIT)
	Add: Depreciation and amortization
	Add: Amortization of film and television costs
	Earnings before interest, tax, depreciation and amortization (EBITDA)

Based on: 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-18), 10-K (filing date: 2015-02-20).

AT&T Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (USD $ in millions)
Enterprise value (EV)
Earnings before interest, tax, depreciation and amortization (EBITDA)
Ratio
EV/EBITDA
Benchmarks
EV/EBITDA, Competitors
Verizon Communications Inc.
EV/EBITDA, Sector
Fixed Line Telecommunications

Based on: 10-K (filing date: 2019-02-20).

If company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.

Otherwise, if company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

AT&T Inc., historical EV/EBITDA calculation, comparison to benchmarks

		Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
	Selected Financial Data (USD $ in millions)
	Enterprise value (EV)1
	Earnings before interest, tax, depreciation and amortization (EBITDA)2
	Ratio
	EV/EBITDA3
	Benchmarks
	EV/EBITDA, Competitors
	Verizon Communications Inc.
	EV/EBITDA, Sector
	Fixed Line Telecommunications

Based on: 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-18), 10-K (filing date: 2015-02-20).

2018 Calculations