At&T (T) Operating Margin (2009 - 2026)
At&T (T) posted quarterly Operating Margin of 22.3% for Q2 2026, up 123.0% year-over-year from 10.0% in Q2 2025, and up 5.53% quarter-over-quarter from 21.13% in Q1 2026.
At&T (T) Operating Margin (2009 - 2026) Analysis & Trends
At&T (T) has reported Operating Margin for 18 consecutive years, with 22.3% the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Margin rose 123.0% year-over-year to 22.3%; the TTM figure through Jun 2026 stood at 20.12% (up 424.0% YoY), while the FY2025 annual figure was 19.23%, up 366.0% from the prior year.
- Operating Margin climbed to 22.3% in Q2 2026 per T's latest filing, from 21.13% in the prior quarter.
- Across five years, Operating Margin topped out at 22.3% in Q2 2026 and bottomed at 67.29% in Q4 2022.
- Historically, Operating Margin has averaged 13.76% across 5 years, with a median of 19.19% in 2023.
- Annual changes were most pronounced in 2022 — Operating Margin plunged 8303 bps — and 2023, when it surged 8375 bps.
- At&T's Operating Margin stood at 67.29% in 2022, then soared by 124 bps to 16.46% in 2023, then advanced by 0 bps to 16.49% in 2024, then increased by 5 bps to 17.3% in 2025, then climbed by 29 bps to 22.3% in 2026.
- Business Quant data shows T's Operating Margin at 22.3% in Q2 2026, 21.13% in Q1 2026, and 17.3% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Verizon Communications | 205.96 Bn | 204.21 Bn | 27.03 Bn | 20.96% |
| 2 | T-Mobile US | 200.41 Bn | 197.58 Bn | 17.74 Bn | 24.09% |
| 3 | Grupo Televisa, S.A.B | 192.34 Bn | 190.63 Bn | 318.12 Mn | 40.18% |
| 4 | At&T | 176.75 Bn | 159.18 Bn | 25.25 Bn | 22.30% |
| 5 | Chunghwa Telecom | 33.73 Bn | 31.15 Bn | 728.80 Mn | 21.61% |
| 6 | EchoStar | 25.12 Bn | 23.62 Bn | 1.65 Bn | 14.34% |
| 7 | Bce | 22.26 Bn | 22.26 Bn | - | - |
| 8 | Rogers Communications | 19.74 Bn | 18.49 Bn | 1.77 Bn | 39.73% |
| 9 | Telefonica Brasil | 18.43 Bn | 18.43 Bn | 1.32 Bn | 51.43% |
| 10 | Charter Communications | 18.04 Bn | 17.53 Bn | - | 22.65% |
Historic Data
Download 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% |