AT&T Inc.

T · NYSE · Communication Services · Telecom Services

下次财报：2026年10月21日 · 开盘前

US$24.92-1.8%9月28日收盘

1M: -4.2%
6M: -11.3%
1Y: -7.6%
5Y: +60.5%

对比

AT&T sells wireless phone service, home and business internet, and network services in the United States and Mexico.

基于 AT&T Inc. 自己向 SEC 提交的申报文件。数字如实呈报，每股历史已重述到今天的股数口径。这是对一门生意的描述——不是投资建议，也不是买卖任何证券的推荐。

完整财务报表 →

关于AT&T Inc.

AT&T operates wireless networks and wired fiber connections, selling phone and internet service to consumers, businesses, government customers, and other carriers. Its services include fifth-generation (5G) wireless, home internet through fiber or a wireless connection, and business network services; it is also winding down older copper-based phone and internet services. In the second quarter of 2026, it added more than 1 million (Q2 2026, high confidence) subscribers across fiber, fixed wireless, and postpaid wireless phones. At quarter-end, 42.5% (Q2 2026, high confidence) of its advanced home internet customers also had an AT&T postpaid wireless account.

总部: Dallas, Texas
成立于: 1983
员工人数: approximately 133,030 (December 31, 2025, high confidence)
财年结束: December 31

怎么赚钱

Advanced Connectivity: wireless, fiber internet, and other newer network services90%
Legacy phone and data services6%
Wireless service in Mexico4%

各项收入占比是对quarter ended 2026-03-31, high confidence的估算，并非来自已提交报告的数字。

竞争对手

卖什么6

AT&T wireless service
Mobile phone voice and data plans for consumers, businesses, and resellers in the United States, including prepaid plans sold under AT&T PREPAID and Cricket.
FirstNet
A nationwide wireless broadband network and service for public safety customers.
AT&T Fiber
Home and business internet delivered over fiber-optic lines.

再显示 3 项

AT&T Internet Air
Home internet delivered over AT&T's wireless network rather than a wired connection.
Business connectivity and managed services
Services for businesses that include dedicated internet connections, fiber Ethernet, fixed wireless, and managed network support.
Legacy voice and data services
Older copper-based telephone and data services for homes and businesses, which AT&T is working to replace with fiber and wireless services.

谁在买5

Consumers who buy postpaid or prepaid wireless plans, often with a phone purchased outright or through installment payments.
Households that subscribe to fiber or fixed wireless home internet, sometimes alongside an AT&T wireless plan.
Businesses, from small and mid-sized firms to multinational companies, that buy internet, wireless, voice, and managed network services.

再显示 2 项

Government customers, including public safety agencies that use FirstNet.

靠什么支撑，什么会击垮它

业务依赖什么

1Wireless service depends on government licenses to use radio spectrum; AT&T must maintain and renew those licenses and obtain enough capacity for network traffic.
2Network construction and service depend on equipment and other supplies from third-party vendors, including equipment used in wireless networks and customer devices.
3Service depends on the continued operation of extensive wireless, fiber, and legacy wired infrastructure, which can be affected by cyberattacks, extreme weather, or other physical damage.

与同行业相比处在什么位置

三项评分，每一项都是相对我们在Telecom Services覆盖的 51 家公司的百分位。刻意分开而不揉成一个总分：便宜、上涨和经营得好是三件不同的事，一个数字会把它们是哪一件藏起来。

动量

49在同行业中满分 100

处于同行业中游

截至一个月前的 12 个月-5.9%

截至一个月前的 6 个月-4.9%

最近一个月被刻意剔除：回报往往在 7 到 12 个月内延续，而最新的一个月往往反转。这描述的是股价已经走过的路，不说明它接下来会怎么走。

估值

58在同行业中满分 100

处于同行业中游

每单位价格对应的利润12.62%

每单位价格对应的现金10.32%

每单位价格对应的营收74.51%

每单位价格对应的资产74.07%

整个企业对应的经营利润14.41%

这些是收益率，所以数值越高越便宜——亏损的公司会排在最后，而不是被剔除。便宜不等于好：高收益率往往意味着股价是有原因才跌下来的。五项指标齐全。

资本配置

3/5参差

1 项检验未披露

资本回报率7.2%

股东回报率7.43%

股本数量，3 年-9.7%

净债务 / EBITDA3.15x

内部人，12 个月—

管理层怎么使用这笔钱——只按财报能回答的部分计分，绝不按占总数的比例计分。

六项资本配置检验

投入资金的回报投入资本回报 7.2%
债务与盈利之比净债务为经营利润的 3.15 倍
回馈给股东的现金每年 7.4% 用于回购和分红
三年间的股本数量三年间股本数量减少 9.7%
现金流对派付的覆盖自由现金流覆盖了派付的部分
内部人在公开市场的买入没有内部人在公开市场交易的记录

这是对该公司在同行中所处位置的描述，不是投资建议。评分更新于 2026年9月29日。

Wholesale and resale customers, including other carriers and internet service providers that use AT&T network services.

4A significant share of employees is represented by labor unions, so contract negotiations and work stoppages can affect operating costs or service work.

可能出什么问题

1AT&T needs ongoing access to radio spectrum and substantial investment in its wireless and fiber networks to meet customer demand; spectrum availability, license terms, or higher network costs could affect service and operations.
2Wireless carriers, cable companies, fixed wireless providers, and other internet services compete for customers on price, coverage, network quality, and devices, while customers continue to move away from older copper-based services.
3Cyberattacks, extreme weather, infrastructure damage, or delays in equipment supply can disrupt AT&T's networks or its ability to serve customers.