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AT&T T Free cash flow

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Other financials

Income statement

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Revenue$31.5B+2.9%
Operating income$6.7B+15.7%
Net income$3.8B-12.0%
EPS (diluted)$0.54-11.5%

Balance sheet

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Cash & equivalents$12.0B+73.8%
Total debt$157.31B+9.6%
Total assets$421.19B+6.0%

Cash flow

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Operating cash flow$7.6B-16.1%
CapEx$4.9B+14.0%

Valuation

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Market cap$155.78B-22.0%
Enterprise value$301.13B-10.5%
P/E7.3×-9.6×
P/S1.2×-0.4×

Profitability

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Gross margin93%
Operating margin19.8%+4.4pp
Net margin16.9%+7.3pp
FCF margin13.7%-2.1pp

Returns & leverage

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Current ratio0.9×+0.2×

Where this comes from

Calculated from AT&T’s reported figures.

The official record: AT&T’s 10-Q, filed April 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

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 -7.4% compound annual growth rate (CAGR), from $26.41B to $19.44B.
What does free cash flow mean?
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.