At&T (T) Operating Margin (2009 - 2026)

At&T has disclosed Operating Margin across 18 years of filings, most recently posting 21.13% for Q1 2026.

• In Q1 2026, Operating Margin rose 234.0% year-over-year to 21.13%; the TTM figure through Mar 2026 stood at 19.81% (up 439.0% YoY), while the FY2025 annual figure was 19.23%, up 366.0% from the prior year.
• Operating Margin climbed to 21.13% in Q1 2026, from 17.3% in the prior quarter.
• Over the last five years, Operating Margin for T reached as high as 21.41% in Q2 2023 and fell as low as 67.29% in Q4 2022.
• The 5-year median for Operating Margin is 19.05% (2023), against an average of 13.26%.
• Annual changes were most pronounced in 2022 — Operating Margin slumped 8303 bps — and 2023, when it surged 8375 bps.
• A 5-year view of Operating Margin shows it stood at 67.29% in 2022, then surged by 124 bps to 16.46% in 2023, then gained by 0 bps to 16.49% in 2024, then grew by 5 bps to 17.3% in 2025, then climbed by 22 bps to 21.13% in 2026.
• According to Business Quant data, Operating Margin over the past three periods registered 21.13%, 17.3%, and 19.93% for Q1 2026, Q4 2025, and Q3 2025 respectively.