AT&T (T) FY2025 10-K Annual Report

Filed: Feb 9, 2026
Communication Services
Telephone Communications (No Radiotelephone)SEC EDGAR

AT&T (T) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 9, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

AT&T FY2025 10-K Analysis

Business Overview

  • Core business: Telecommunications services including wireless, broadband, and video entertainment delivery
  • New segment emphasis: Sale of DIRECTV Entertainment Holdings LLC completed in 2024 per Securities Purchase Agreement
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Management Discussion & Analysis

  • Revenue $125.6B, up 2.7% YoY; Communications $120.9B (up 2.8%), Latin America $4.4B (up 3.5%)
  • Operating margin 19.2% in 2025 vs 15.6% in 2024; operating income $24.2B up 26.8% YoY
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Risk Factors

  • FCC and state regulatory risks from broadband/wireless deployment rulings could impede cost recovery and lessen investment incentives
  • Political instability and currency fluctuations in Mexico increase exposure in AT&T’s largest international market
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AT&T FY2025 Key Financial Metrics
XBRL

Revenue

$125.6B

+2.7% YoY

Net Income

$22.0B

+100.5% YoY

Operating Margin

19.2%

+366bp YoY

Net Margin

17.5%

+852bp YoY

ROE

17.4%

+810bp YoY

Total Assets

$420.2B

+6.4% YoY

EPS (Diluted)

$3.04

+104.0% YoY

Operating Cash Flow

$40.3B

+3.9% YoY

Source: XBRL data from AT&T FY2025 10-K filing on SEC EDGAR. All figures in USD.

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