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AT&T T Operating margin

Operating margin at other companies

Motorola Solutions, Inc. logo
Motorola Solutions, Inc.MSI
24.7%-0.4pp
Verizon Communications logo
Verizon CommunicationsVZ
21.2%-0.3pp
SBA Communications logo
SBA CommunicationsSBAC
47.3%-6.6pp
Crown Castle logo
Crown CastleCCI
47.9%-0.1pp
Charter Communications, Inc. logo
Charter Communications, Inc.CHTR
23.6%-0.4pp
Comcast logo
ComcastCMCSA
15.3%-3.4pp

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%
Free cash flow$2.7B-43.0%

Valuation

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Market cap$155.92B-0.3%
Enterprise value$301.27B+2.4%
P/E7.3×-5.9×
P/S1.2×0.0×

Profitability

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Gross margin93%
Net margin16.9%+7.3pp

Returns & leverage

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Current ratio0.9×+0.2×

Where this comes from

Calculated from AT&T’s reported figures.

Based on trailing twelve months.

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 operating margin?
AT&T (T) reported operating margin of 19.8% in Q1 2026.
How has AT&T's operating margin changed year-over-year?
AT&T's operating margin increased by 28.5% year-over-year, from 15.4% to 19.8%.
What is the long-term trend for AT&T's operating margin?
Over 3 years (2022 to 2025), AT&T's operating margin has grown at a 11.1% compound annual growth rate (CAGR), from 50.7% to 69.6%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.