What are AT&T's profit margins?

AT&T (T) runs a 93.0% gross margin and a 19.8% operating margin, with a 16.9% net margin.

Where do AT&T's ratios come from?

Every ratio is computed from AT&T's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

AT&T T Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Operating margin	74%+4.4pp	69.6%+3.7pp	65.9%+3.5pp	62.4%-2.7pp	65.1%-3.6pp
Net margin	62.6%+7.3pp	55.3%+8.5pp	46.8%+10.5pp	36.3%-0.1pp	36.4%-1.5pp
EBITDA margin	140.8%+3.9pp	136.9%+3.5pp	133.4%+4.1pp	129.3%-1.8pp	131.2%-2.5pp
Free cash flow margin	61.1%-2.1pp	63.2%+0.3pp	62.8%-0.5pp	63.4%-1.3pp	64.7%-2.1pp
Returns
Return on assets	19.2%+2.3pp	17%+2.7pp	14.3%+3.2pp	11.1%0.0pp	11.1%-0.4pp
Efficiency
Asset turnover	1.2×0.0×	1.2×0.0×	1.2×0.0×	1.2×0.0×	1.2×0.0×
Liquidity
Current ratio	3.6×+0.2×	3.4×+0.2×	3.2×+0.3×	2.9×+0.1×	2.8×0.0×
Quick ratio	3.5×+0.2×	3.2×+0.2×	3×+0.3×	2.7×+0.1×	2.6×0.0×
Cash ratio	1.2×+0.1×	1.1×+0.3×	0.8×+0.3×	0.5×+0.1×	0.4×+0.1×
Leverage
Debt-to-assets	1.5×0.0×	1.5×0.0×	1.5×0.0×	1.5×0.0×	1.5×0.0×
Net debt / EBITDA	12.8×-0.3×	13.1×-0.5×	13.6×-0.6×	14.2×0.0×	14.2×0.0×
Interest coverage	13.7×+0.8×	12.9×+0.7×	12.2×+0.8×	11.4×-0.4×	11.8×-0.6×
Valuation
Market capitalization	$783.93B-0.1%	$784.52B+1.6%	$771.8B+6.0%	$728.18B+10.0%	$662.13B+13.0%
Enterprise value	$1.35T+0.6%	$1.34T+0.9%	$1.33T+3.0%	$1.29T+5.0%	$1.23T+5.7%
Price / earnings	42.5×-7.7×	50.2×-6.9×	57.1×-8.4×	65.5×+5.2×	60.3×+7.8×
Price / sales	6.3×-0.1×	6.3×+0.1×	6.3×+0.3×	5.9×+0.5×	5.4×+0.6×
EV / EBITDA	30.7×-1.0×	31.7×-0.7×	32.3×-0.2×	32.5×+1.8×	30.7×+2.1×
EV / sales	10.8×0.0×	10.8×0.0×	10.8×+0.3×	10.5×+0.5×	10×+0.5×
Free cash flow yield	39.2%-1.0pp	40.2%-0.3pp	40.5%-2.9pp	43.4%-5.6pp	49%-7.7pp
Earnings yield	40.3%+4.7pp	35.6%+5.8pp	29.8%+5.3pp	24.5%-3.0pp	27.5%-4.9pp
Dividend yield	16.7%-0.1pp	16.8%-0.4pp	17.2%-1.1pp	18.3%-1.9pp	20.2%-2.4pp
PEG ratio	63.7×—	——	——	——	——

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Questions, answered.

What are AT&T's profit margins?: AT&T (T) runs a 93.0% gross margin and a 19.8% operating margin, with a 16.9% net margin.
Where do AT&T's ratios come from?: Every ratio is computed from AT&T's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.