At&T (T) Operating Margin (2009 - 2026)
At&T's Operating Margin came in at 22.30% for Q2 2026, up 1.23 percentage points from 21.07% a year earlier and up 1.17 percentage points from the prior quarter.
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Analysis
At&T (T) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, At&T reported Operating Margin of 20.12%, up 4.24 percentage points year-over-year; for FY2025, it was 19.23%, up 3.66 percentage points from FY2024.
- Operating Margin carries a five-year change of +13.38 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was 15.57% in FY2024 (-3.59 pp), 19.16% in FY2023 (+22.96 pp), -3.80% in FY2022 (-23.12 pp) and 19.32% in FY2021 (+13.47 pp).
- The Q2 2026 figure represents the highest quarterly Operating Margin since Q4 2013.
- Year-over-year, Operating Margin has increased for five consecutive quarters, with an average year-over-year change of +0.79 percentage points over the last eight quarters.
- The fastest year-over-year change in Operating Margin over five years came in Q4 2023 (a gain of 83.75 percentage points), and the weakest in Q4 2022 (a drop of 83.03 percentage points).
- Business Quant data shows T's Operating Margin at 21.13% (Q1 2026), 17.30% (Q4 2025) and 19.93% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Verizon Communications | 191.08 Bn | 155.48 Bn | 27.03 Bn | 20.96% |
| 2 | T-Mobile US | 175.17 Bn | 159.92 Bn | 14.76 Bn | 24.09% |
| 3 | At&T | 167.81 Bn | 115.76 Bn | 25.82 Bn | 22.30% |
| 4 | Grupo Televisa, S.A.B | 146.22 Bn | 134.85 Bn | 318.12 Mn | 11.00% |
| 5 | Comcast | 76.40 Bn | 40.65 Bn | - | 17.23% |
| 6 | Chunghwa Telecom | 35.35 Bn | 31.20 Bn | 728.80 Mn | 21.61% |
| 7 | EchoStar | 26.08 Bn | 17.22 Bn | 1.65 Bn | 14.34% |
| 8 | AST SpaceMobile | 23.11 Bn | 23.62 Bn | 7.95 Mn | -1,018.86% |
| 9 | Bce | 18.79 Bn | 17.12 Bn | - | - |
| 10 | Telefonica Brasil | 18.18 Bn | 12.18 Bn | 1.42 Bn | 16.48% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.30% |
| Mar 31, 2026 | 21.13% |
| Dec 31, 2025 | 17.30% |
| Sep 30, 2025 | 19.93% |
| Jun 30, 2025 | 21.07% |
| Mar 31, 2025 | 18.79% |
| Dec 31, 2024 | 16.49% |
| Sep 30, 2024 | 7.00% |
| Jun 30, 2024 | 19.33% |
| Mar 31, 2024 | 19.47% |
| Dec 31, 2023 | 16.46% |
| Sep 30, 2023 | 19.05% |
| Jun 30, 2023 | 21.41% |
| Mar 31, 2023 | 19.91% |
| Dec 31, 2022 | -67.29% |
| Sep 30, 2022 | 20.01% |
| Jun 30, 2022 | 16.72% |
| Mar 31, 2022 | 18.64% |
| Dec 31, 2021 | 15.74% |
| Sep 30, 2021 | 19.91% |
API Access
At&T Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=T&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "T", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=T&period=max&api_key=YOUR_API_KEY");
const data = await res.json();