Free cash flow
AT&T Free cash flow decreased by 40.1% to $2.72B in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 43.0%, from $4.77B to $2.72B. Over 4 years (FY 2021 to FY 2025), Free cash flow shows a downward trend with a -6.5% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase suggests strong operational efficiency and the ability to self-fund future innovation or return capital to shareholders, while a decrease may indicate heavy capital expenditure cycles or declining operational profitability.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
High-growth semiconductor and AI infrastructure peers typically prioritize reinvestment, so free cash flow margins are often compared against R&D intensity and capital expenditure requirements of industry rivals.
cf_free_cash_flowHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $6.95B | $5.16B | $7.42B | $984.00M | $4.91B | $4.17B | $6.12B | $2.34B | $5.65B | $5.69B | $6.78B | $3.79B | $4.73B | $4.93B | $5.05B | $4.77B | $4.87B | $5.27B | $4.54B | $2.72B |
| QoQ Change | — | -25.7% | +43.8% | -86.7% | +399.0% | -15.0% | +46.6% | -61.7% | +141.2% | +0.7% | +19.1% | -44.1% | +24.9% | +4.2% | +2.4% | -5.6% | +2.0% | +8.2% | -13.8% | -40.1% |
| YoY Change | — | — | — | — | -29.4% | -19.2% | -17.6% | +138.1% | +15.1% | +36.3% | +10.8% | +61.7% | -16.3% | -13.3% | -25.4% | +25.9% | +2.8% | +6.7% | -10.2% | -43.0% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is AT&T's free cash flow?
- AT&T (T) reported free cash flow of $2.72B in Q1 2026.
- How has AT&T's free cash flow changed year-over-year?
- AT&T's free cash flow decreased by 43.0% year-over-year, from $4.77B to $2.72B.
- What is the long-term trend for AT&T's free cash flow?
- Over 4 years (2021 to 2025), AT&T's free cash flow has grown at a -6.5% compound annual growth rate (CAGR), from $25.43B to $19.44B.
- What does free cash flow mean?
- The cash a company has left over after paying for its operating expenses and capital investments.