AT&T Financial Analysis and Financial Ratios
Quality Business Consultant's financial analysis expert, Paul Borosky, MBA., doctoral candidate, and published author, has created proprietary financial models to help analyze AT&T's financial performance using AT&T's summarized income statements and balance sheets for the last five years, found in their Annual Reports and AT&T's 10ks.
Further, our financial model also calculates over 20 popular financial ratios, such as AT&T's current ratio, return on equity, and debt ratio. This information is the basis of our financial report, "AT&T Financial Report," where we offer insights into understanding their financial standing through insightful financial analysis.
A Beginner's Guide to AT&T Financial Analysis - 2021
- Included Easy to download PDF File.
- Included Easy to use format.
- Included Summarized Income Statements and Balance Sheets for the last 5 years..
- Included Popular financial ratios for the last 5 years included... with calculations and formulas!
- Included Expert tips to help with financial statements analysis.
- Included Expert tips to help with financial ratios analysis.
- NOT Included-Identify and discuss financial trends for the company..
- NOT Included-Expert financial analysis done by Paul Borosky, MBA.
- NOT Included- Analyst "Letter Grades" for the company's ratios.
AT&T Financial Report by Paul Borosky, MBA. - 2019
- Included Easy to download PDF File.
- Included Easy to use format.
- Included Summarized Income Statements and Balance Sheets for the last 5 years..
- Included Popular financial ratios for the last 5 years included... with calculations and formulas!
- Included Expert tips to help with financial statements analysis.
- Included Expert tips to help with financial ratios analysis.
- Included Identify and discuss financial trends for the company.
- Included Expert financial analysis done by Paul Borosky MBA.
- Included Analyst "Letter Grades" for the company's ratios.
AT&T's Financial Report and Financial Analysis
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AT&T Beginner's Guide 2021
Table of Contents
- Disclaimer 3
- Forward 4
- Income Statement 6
- AT&T’s Summarized Income Statements 6
- Revenues 7
- Cost of Goods Sold (COGS) 8
- Selling, General, and Administrative Expenses (SG&A 8
- Research and Development (R&D) 9
- Operating Expenses 10
- Earnings Before Interest and Taxes (EBIT 10
- Interest Expense 11
- Earnings Before Taxes (EBT) 12
- Taxes 12
- Net income 12
- Tax Rate 13
- Balance Sheet 15
- AT&T’s Summarized Balance Sheets 15
- Cash 16
- Short-Term Investments 17
- Accounts Receivables 17
- Inventory 18
- Current Assets 19
- Property, Plant, and Equipment (PP&E) 20
- Total Assets 20
- Accounts Payable 21
- Accrued Expenses 22
- Short-Term Debt 23
- Total Current Liabilities 24
- Long Term Debt (LT Debt) 25
- Total Liabilities 26
- Common Stock and Additional Paid-in Capital 27
- Treasury 27
- Retained Earnings 28
- Total Equity 29
- Financial Ratios 30
- AT&T’s Liquidity Ratios 31
- Current Ratio 31
- Quick Ratio 32
- Cash Ratio 33
- AT&T’s Asset Ratios 35
- Total Asset Turnover 36
- Fixed Asset Turnover 37
- Days Sales Outstanding 37
- Inventory Turnover 38
- Accounts Receivable Turnover 39
- Accounts Payable Turnover 40
- Other Asset Ratio Calculations 41
- Working Capital Turnover 41
- Average Days in Inventory 41
- Average Days Payable 41
- AT&T’s Profitability Ratios 43
- Return on Assets (ROA) 43
- Return on Equity (ROE) 44
- Net Profit Margin 45
- Gross Profit Margin 46
- Operating Profit Margin 46
- AT&T’s Debt Ratios 48
- Debt Ratio 48
- Debt to Equity Ratio 49
- Times Interest Earned 50
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Downloadable PDF Price!!
AT&T Financial Report 2019
Table of Contents
- Disclaimer 3
- Acknowledgments 4
- Forward 5
- About the Author 7
- Company Summary 8
- Financial Statement Introduction 11
- Income Statement 12
- AT&T’s Income Statement – Summary Analysis 13
- Income Statement Discussion 14
- Balance Sheet 22
- Balance Sheet – Summary Analysis 23
- Balance Sheet Discussion 24
- Financial Ratios 39
- Liquidity Ratios 40
- Liquidity Ratios - Summary Analysis 40
- Liquidity Ratios Discussion 41
- Current Ratio 41
- Quick Ratio 42
- Cash Ratio 43
- Other Liquidity Ratios 44
- Net Operating Working Capital 44
- Asset Ratios 45
- Asset Utilization Ratios - Summary Analysis 46
- Asset Utilization Ratios Discussion 47
- Total Asset Turnover 47
- Fixed Asset Turnover 47
- Days Sales Outstanding 48
- Inventory Turnover 49
- Accounts Receivable Turnover 50
- Accounts Payable Turnover 51
- Other Asset Ratio Calculations 51
- Working Capital Turnover 52
- Average Days in Inventory 52
- Average Days Payable 52
- Profitability Ratios 54
- Profitability Ratios - Summary Analysis 55
- Profitability Ratios Discussion 56
- Return on Assets (ROA) 56
- Return on Equity (ROE) 56
- Profit Margin 57
- Gross Profit Margin 58
- Operating Profit Margin 59
- Basic Earnings Power 59
- ROCE 60
- Capital Employed 60
- Debt Ratios 61
- AT&T’s Debt Ratios - Summary Analysis 61
- Debt Ratios Discussion 62
- Long-Term Debt Ratio 62
- Debt to Equity Ratio 63
- Times Interest Earned 63
- WACC 65
- Book Value of WACC 65
- Free Cash Flow (FCF) 67
- Free Cash Flows – 2015 - 2019 67
- Free Cash Flows – 5 Year Projections 68
- Income Statement – Projections for 5 years 69
- Income Statement – 5 Year Projections 69
- Balance Sheet – Projections for 5 years 70
- Balance Sheet – 5 Year Projections 70
- Company Valuation and Intrinsic Stock Price 72
- Appendix 1: Summarized Income Statement 73
- Appendix 2: Income Statement – Percent of Sales 74
- Appendix 3: Income Statement – Year over Year Growth 75
- Appendix 4: Summarized Balance Sheet 76
- Appendix 5: Balance Sheet as Percent of Total Assets 77
- Appendix 6: Summarized Financial Ratios 78
AT&T's Financial Report by Paul Borosky, MBA.
Hey All,
Thanks for considering my AT&T Financial Report. In this report, you will be able to find preliminary information about AT&T current financial performance as well as some historical track records and trends. Also, in this report, written by myself, Paul Borosky, MBA., Doctoral Candidate and published author, you will find:
- Summarized income statement for the last 5 years.
- Summarized balance sheet for the last 5 years.
- Summary analysis by myself of the important income statement, balance sheet, and financial ratio trends and other happenings.
- Five years’ worth of over twenty common financial ratios presented with formulas, calculations, and analysis tips for each ratio.
- Line by line description, explanation, and analysis tip for most financial statement line items and financial ratios.
- Professional financial analysis tips are provided in each section to help YOU conduct your OWN financial analysis!
- Each section includes an “in other words” segment. This is where I use plain English to explain concepts.
Sincerely,
Paul, MBA.
Sample Report
AT&T Income Statement Analysis Sample
In this section of the financial report, I walk you through a broad definition of what an income statement is and why it is essential. From this, I then discuss and define important income statement line items, such as revenues, gross profits, etc., in detail. Finally, I offer a summary analysis of the company's important income statement line item trends. For example,...
AT&T Cost of Goods Sold.
In 2015, AT&T’s cost of goods was approximately $67 billion. In the next four years, the company would consistently increase the cost of goods ending 2019 at $84 billion. As a percentage of revenues, in 2015, the company’s cost of goods would be 45.7%. In the next two years, the company’s cost of goods as compared to revenues would increase dramatically, ending 2017 at 48.5%. This indicates that the organization is either doing a worse job negotiating raw material costs or the organization is not able to pass on the increased cost of goods to its customers. In this instance, both issues may be the case.
AT&T 2021 Summary Income Statement |
|||||
Column1 |
2021 |
2020 | 2019 | 2018 |
2017 |
Revenues |
168,864 |
171,760 | 181,193 | 170,756 |
160,546 |
COGS |
79,807 |
79,920 | 84,141 | 79,419 |
77,810 |
Gross Profit |
89,057 |
91,840 | 97,052 | 91,337 |
82,736 |
SG&A |
37,944 |
38,039 | 39,422 | 36,765 |
35,465 |
Depreciation |
22,862 |
28,516 | 28,217 | 28,430 |
24,387 |
R & D | |||||
Other | |||||
Total Operating Expenses |
60,806 |
66,555 | 67,639 | 65,195 |
59,852 |
EBIT |
23,347 |
6,405 | 27,955 | 26,096 |
19,970 |
Other Income | |||||
Interest Expense |
6,884 |
7,925 | 8,422 | 7,957 |
6,300 |
EBT |
26,947 |
(2,856) | 18,468 | 24,873 |
15,139 |
Taxes |
5,468 |
965 | 3,493 | 4,920 |
(14,708) |
Net Income |
20,081 |
(3,821) | 14,975 | 19,953 |
29,847 |
AT&T Balance Sheet Analysis Sample
In this section of the financial report, I walk you through a broad definition of what a balance sheet is and why it is important. From this, I then discuss and define important balance sheet line items, such as cash, inventory, etc., in detail. Finally, I offer a summary analysis of the company's important balance sheet line item trends. For example,...
AT&T Property, Plant, and Equipment
In 2015, AT&T had approximately $124.4 billion in property, plant, and equipment. In the next two years, the organization would slightly increase its property, plant, and equipment ending 2017 at $125.2 billion. In the last two years, though, the organization would moderately increase its property, plant, and equipment to $130.1 billion. When an organization increases its property, plant, and equipment, this indicates that the firm’s executive team anticipates long-term revenue growth, which needs property, plant, and equipment to support it.
AT&T 2021 Summary Balance Sheet |
|||||
Column1 |
2021 |
2020 | 2019 | 2018 |
2017 |
Cash |
21,169 |
9,740 | 12,130 | 5,204 |
50,498 |
Short Term Investment | |||||
Account Receivable |
17,571 |
20,215 | 22,636 | 26,472 |
16,522 |
Inventory | |||||
Other | |||||
Current Assets |
59,997 |
52,008 | 54,761 | 51,427 |
79,146 |
Net PPE |
125,904 |
127,315 | 130,128 | 131,473 |
125,222 |
Goodwill |
133,223 |
135,259 | 146,241 | 146,370 |
105,449 |
Other | - | - | |||
Total Assets |
551,622 |
525,761 | 551,669 | 531,864 |
444,097 |
Accounts Payable |
50,661 |
50,051 | 45,956 | 43,184 |
34,470 |
Accrued Expense | - | - | |||
Accrued Taxes | - |
- |
1,212 | 1,179 |
1,262 |
Notes Payable | - | - | - | ||
LT Debt - Current |
24,630 |
3,470 | 11,838 | 10,255 |
38,374 |
Other | - | - | |||
Total Current Liabilities |
85,588 |
63,438 | 68,911 | 64,420 |
81,389 |
LT Debt |
152,724 |
153,775 | 151,309 | 166,250 |
125,972 |
Other | |||||
Total Liabilities |
367,767 |
346,521 | 349,735 | 337,980 |
302,090 |
Common Stock |
137,733 |
137,796 | 7,621 | 7,621 |
6,495 |
Treasury |
17,280 |
17,910 | 13,085 | 12,059 |
12,714 |
Retained Earnings |
42,350 |
37,457 | 57,936 | 58,753 |
50,500 |
Other | |||||
Total Equity |
183,855 |
179,240 | 201,934 | 193,884 |
142,007 |
Total Equity & Liability |
551,622 |
525,761 | 551,669 | 531,864 |
444,097 |
aT&T Financial Ratios Sample
In this section of the financial report, I walk you through definitions of various popular financial ratios, how to calculate the ratios, formulas used, etc. Also, for some popular financial ratios, I provide brief explanations of what the ratios mean as it is related to the company.
AT&T Quick Ratio
The organization’s quick ratio is identical to its current ratio. This is because the firm has no inventory to disclose. Or, at the very least, it’s inconsequential as compared to their overall assets.
AT&T Fixed Asset Turnover Ratio
In 2015, AT&T had a fixed asset turnover of 1.18. In the next four years, the organization would improve its fixed asset turnover ending 2019 at 1.39. This means that the firm is continually using more and more of its fixed assets to generate revenues. Couple this with the organization continually increasing their property, plant, and equipment, and investors may take away that the firm expects to moderately grow the revenues for the moderate to long-term—an excellent situation for investors, in my opinion.
AT&T Return on Equity
AT&T’s return on equity ended 2015 at 11.07%. In the next two years, the return on equity would increase dramatically to 21%. However, in the past two years, the return on equity has fallen from 10.29% in 2018 to 7.4% in 2019. The continued reduction in return on equity again highlights possible inefficient leadership from the executive team. To mitigate this issue, the organization may want to consider taking on more debt and repurchasing stock from the open market.
AT&T 2021 Liquidity Ratios |
|||||
Ratios | 2021 | 2020 | 2019 | 2018 | 2017 |
Current Ratio | 0.70 | 0.82 | |||
Cash Ratio | 0.25 | 0.15 | |||
Quick Ratio | 0.70 | 0.82 | |||
Net Working Capital |
(25,591) |
(11,430) |
|||
AT&T 2021 Asset Utilization |
|||||
Ratios | 2021 | 2020 | 2019 | 2018 | 2017 |
Total Asset Turnover | 0.31 | 0.33 | |||
Fixed Asset Turnover | 1.34 | 1.35 | |||
Days Sales Outstanding | 40.84 | 45.53 | |||
Inventory Turnover (Using Sales) |
#DIV/0! |
#DIV/0! |
|||
Inventory Turnover (Using COGS) |
#DIV/0! |
#DIV/0! |
|||
Accounts Receivable Turnover | 8.94 | 8.02 | |||
Working Capital Turnover |
(6.60) |
(15.03) |
|||
AP Turnover | 1.58 | 1.66 | |||
Average Days Inventory |
#DIV/0! |
#DIV/0! |
|||
Average Days Payable | 230.30 | 219.24 | |||
AT&T 2021 Profitability Ratios |
|||||
Ratios | 2021 | 2020 | 2019 | 2018 | 2017 |
Return on Assets |
3.64% |
-0.73% |
|||
Return on Equity |
10.92% |
-2.13% |
|||
Net Profit Margin |
11.89% |
-2.22% |
|||
Gross Profit Margin |
52.74% |
53.47% |
|||
Operating Profit Margin |
13.83% |
3.73% |
|||
Basic Earning Power |
4.23% |
1.22% |
|||
ROCE |
5.01% |
1.39% |
|||
Capital Employed | 466,034 | 462,323 | |||
ROIC |
5.15% |
2.55% |
|||
AT&T 2021 Debt Ratios |
|||||
Ratios | 2021 | 2020 | 2019 | 2018 | 2017 |
Debt Ratio |
32.15% |
29.91% |
|||
Debt/Equity |
96.46% |
87.73% |
|||
Times Interest Earned | 3.39 | 0.81 |