AT&T (T)
NYSECommunication ServicesTelecommunications ServicesSnapshot 2026-09-04
$25.68-1.95%
Close 2026-09-04 · 1-day change
NYSECommunication ServicesTelecommunications ServicesSnapshot 2026-09-04
QuarterlyIQ Insights · T
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within communication services on a research-validated quality screen. As of 2026-09-04.
The screen ranks T against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 4 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Communication Services names rated strong grew net income 52% of the time over the next year (vs 53% for the rest of the cohort, n=1891).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Grow Advanced Connectivity customer base and service revenues through fiber network expansion, fixed wireless, and converged wireless offerings.
Stated as a priority in 7 of last 7 quarters. Advanced Connectivity customer additions exceeded 1 million in 2026-Q2, with fiber locations growing to 38.6 million and service revenues rising 3.6% year over year in 2026-Q1. Postpaid phone net adds consistently strong, e.g., 401,000 in 2025-Q2, and consumer fiber broadband revenues up 18.9% in 2025-Q2. The trajectory matches management's stated growth focus, delivering sustained expansion in converged fiber and wireless services.
“Added over 1 million Advanced Connectivity customers, fiber locations at 38.6 million, on track for 40 million by end of 2026.”
“Advanced Connectivity service revenue of $22.9 billion, up 3.6% year over year, with 584,000 internet net adds.”
“Advanced Connectivity service revenues grew 4.1% year over year, fiber and fixed wireless revenues increased.”
“Strong convergence strategy with over 41% of AT&T Fiber households also choosing Mobility.”
“401,000 postpaid phone net adds, consumer fiber broadband revenues up 18.9%, 243,000 AT&T Fiber net adds.”
“261,000 AT&T Fiber net adds, consumer fiber broadband revenues up 19.0%, 29.5 million locations passed with fiber.”
“482,000 postpaid phone net adds, 307,000 AT&T Fiber net adds, consumer broadband revenues up 7.8%.”
Execute capital allocation plan including $23B-$24B annual capital investment and $24B+ share repurchases during 2026-2028.
Stated as a priority in 7 of last 7 quarters. Capital investment guidance increased from $22B-$22.5B in 2025 to $23B-$24B annually for 2026-2028. Share repurchase plans grew from $4B in 2025 to approximately $24B including $10B in 2026. Financials show capital expenditures rising to $6.1B in 2026-Q2 from $5.1B in 2026-Q1. The trajectory is delivering disciplined capital allocation consistent with management's stated plans.
Achieve adjusted EPS of $2.25-$2.35 in 2026 with double-digit CAGR through 2028 and free cash flow of $18B+ in 2026.
Stated as a priority in 7 of last 7 quarters. Adjusted EPS guidance increased from $1.97-$2.07 in 2025 to $2.25-$2.35 in 2026 with a double-digit CAGR through 2028. Free cash flow guidance rose from $16B+ in 2025 to $18B+ in 2026. Diluted EPS improved from $0.54 in 2026-Q1 to $0.66 in 2026-Q2, and free cash flow was $4.7B in 2026-Q2, showing progress toward profitability and cash flow goals.
Continue to power down copper-based network with legacy revenue decline of 20%+ in 2026 and elimination by 2029.
Stated as a priority in 4 of last 7 quarters. Legacy revenues declined sharply, 25.9% in 2026-Q2 and 25.3% in 2026-Q1, consistent with management's goal to decommission the copper network and reduce legacy service revenue by 20%+ in 2026 and eliminate it by 2029. Operating expenses in legacy segments also declined, reflecting cost reductions. The trajectory shows delivering on the planned legacy network phase-out.
Focus on growing advanced home internet and fiber network services through acquisition of Lumen's mass markets fiber business.
Over the trailing year it converted 2.58x of net income into operating cash flow. Historically, Communication Services names rated neutral grew net income 39% of the time over the next year (vs 44% for the rest of the cohort, n=1199).
Not enough signal yet.
Not enough signal to read sensitivity to the US dollar, the broad stock market, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity (low R² over the window).
24 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Communication Services names rated volatile grew net income 53% of the time over the next year (vs 53% for the rest of the cohort, n=827).
Not investment advice. As of 2026-09-04.
“Plans capital investment in $23B-$24B range annually during 2026-2028 and share repurchases of $24B+ including $10B in 2026.”
“Reiterates capital investment in $23B-$24B range and share repurchases of approximately $8B in 2026.”
“Capital investment in $22B-$22.5B range and share repurchases of $4B under 2024 authorization.”
“Capital investment in $22B-$22.5B range and share repurchases of $4B under 2024 authorization.”
“Capital investment in $22B-$22.5B range and share repurchases of $4B for 2025.”
“Capital investment in $22B range and plans to commence share repurchases in second half of 2025.”
“Capital expenditures of $6.8B in quarter; capital investment of $7.1B; free cash flow cadence improved.”
“Adjusted EPS of $2.25 to $2.35 in 2026 with double-digit 3-year CAGR; free cash flow of $18 billion+ in 2026.”
“Adjusted EPS of $2.25 to $2.35; free cash flow of $18 billion+ in 2026.”
“Adjusted EPS in higher end of $1.97 to $2.07 range; free cash flow in low-to-mid $16 billion range.”
“Adjusted EPS of $1.97 to $2.07; free cash flow in low-to-mid $16 billion range.”
“Adjusted EPS of $1.97 to $2.07; free cash flow in low-to-mid $16 billion range.”
“Adjusted EPS of $1.97 to $2.07; free cash flow of $16 billion+.”
“Adjusted EPS of $2.15 to $2.25 range; free cash flow of $17-$18 billion range.”
“Legacy revenues declined 25.9% year over year; expected to decline 20%+ in 2026 and be immaterial by 2029.”
“Legacy revenues declined 25.3% year over year; expected to decline 20%+ in 2026 and be immaterial by 2029.”
“Legacy revenues declined 25.3% year over year; strategy to remove legacy fixed costs tied to decommissioning.”
“Business Wireline legacy services declined; plan to power down copper network by end of 2029.”