Stock Analysis on Net

AT&T Inc. (NYSE:T)

Enterprise Value (EV) 

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Current Enterprise Value (EV)

AT&T Inc., current enterprise value calculation

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Current share price (P) $20.57
No. shares of common stock outstanding 7,159,000,000
US$ in millions
Common equity (market value)1 147,261 
Add: Preferred stock, $1 par value (per books) — 
Add: Noncontrolling interest (per books) 17,523 
Total equity 164,784 
Add: Debt maturing within one year (per books) 24,630 
Add: Long-term debt, excluding maturing within one year (per books) 152,724 
Total equity and debt 342,138 
Less: Cash and cash equivalents 21,169 
Enterprise value (EV) 320,969 

Based on: 10-K (reporting date: 2021-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 20.57 × 7,159,000,000


Historical Enterprise Value (EV)

AT&T Inc., EV calculation

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Share price1, 2 $23.94 $28.63 $38.61 $30.85 $36.77
No. shares of common stock outstanding1 7,142,892,741 7,131,763,496 7,172,884,070 7,284,589,883 6,141,532,706
US$ in millions
Common equity (market value)3 171,001  204,182  276,945  224,730  225,824 
Add: Preferred stock, $1 par value (book value) —  —  —  —  — 
Add: Noncontrolling interest (book value) 17,523  17,567  17,713  9,795  1,146 
Total equity 188,524  221,749  294,658  234,525  226,970 
Add: Debt maturing within one year (book value) 24,630  3,470  11,838  10,255  38,374 
Add: Long-term debt, excluding maturing within one year (book value) 152,724  153,775  151,309  166,250  125,972 
Total equity and debt 365,878  378,994  457,805  411,030  391,316 
Less: Cash and cash equivalents 21,169  9,740  12,130  5,204  50,498 
Enterprise value (EV) 344,709  369,254  445,675  405,826  340,818 

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of AT&T Inc. Annual Report.

3 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 23.94 × 7,142,892,741

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. AT&T Inc. EV decreased from 2019 to 2020 and from 2020 to 2021.