TTM
19.4%
YoY change
−0.60pp
Trough year (2022)
-3.8%
Peak year (1986)
27.8%
Latest annual
19.2%
Operating Margin history chart for AT&T (T) from 1985 to 2025
Latest: 19.2%
Operating Margin change chart for AT&T (T) from 1985 to 2025
Latest: −0.60pp
Operating Margin history table for AT&T (T) from 1985 to 2025
| 2025 | 19.2% | -0.60pp | ||
| 2024 | 19.8% | -0.40pp | ||
| 2023 | 20.2% | +24.03pp | ||
| 2022 | -3.8% | -23.12pp | ||
| 2021 | 19.3% | +4.35pp | ||
| 2020 | 15.0% | -1.79pp | ||
| 2019 | 16.8% | +0.78pp | ||
| 2018 | 16.0% | +1.34pp | ||
| 2017 | 14.6% | -1.16pp | ||
| 2016 | 15.8% | -2.39pp | ||
| 2015 | 18.2% | +7.72pp | ||
| 2014 | 10.5% | -13.20pp | ||
| 2013 | 23.7% | +13.47pp | ||
| 2012 | 10.2% | +0.63pp | ||
| 2011 | 9.6% | -6.18pp | ||
| 2010 | 15.7% | -1.39pp | ||
| 2009 | 17.1% | -2.33pp | ||
| 2008 | 19.5% | +1.25pp | ||
| 2007 | 18.2% | +0.68pp | ||
| 2006 | 17.5% | +1.51pp | ||
| 2005 | 16.0% | +1.55pp | ||
| 2004 | 14.5% | -1.03pp | ||
| 2003 | 15.5% | -4.19pp | ||
| 2002 | 19.7% | -3.18pp | ||
| 2001 | 22.9% | +2.51pp | ||
| 2000 | 20.4% | -3.04pp | ||
| 1999 | 23.4% | -0.86pp | ||
| 1998 | 24.3% | +6.64pp | ||
| 1997 | 17.6% | -7.07pp | ||
| 1996 | 24.7% | +1.12pp | ||
| 1995 | 23.6% | +0.12pp | ||
| 1994 | 23.5% | +1.69pp | ||
| 1993 | 21.8% | -0.17pp | ||
| 1992 | 21.9% | -0.92pp | ||
| 1991 | 22.9% | +0.35pp | ||
| 1990 | 22.5% | -0.54pp | ||
| 1989 | 23.1% | -2.07pp | ||
| 1988 | 25.1% | -0.87pp | ||
| 1987 | 26.0% | -1.81pp | ||
| 1986 | 27.8% | +1.01pp | ||
| 1985 | 26.8% | — |
- 202519.2%-0.60pp
- 202419.8%-0.40pp
- 202320.2%+24.03pp
- 2022-3.8%-23.12pp
- 202119.3%+4.35pp
- 202015.0%-1.79pp
- 201916.8%+0.78pp
- 201816.0%+1.34pp
- 201714.6%-1.16pp
- 201615.8%-2.39pp
- 201518.2%+7.72pp
- 201410.5%-13.20pp
- 201323.7%+13.47pp
- 201210.2%+0.63pp
- 20119.6%-6.18pp
- 201015.7%-1.39pp
- 200917.1%-2.33pp
- 200819.5%+1.25pp
- 200718.2%+0.68pp
- 200617.5%+1.51pp
- 200516.0%+1.55pp
- 200414.5%-1.03pp
- 200315.5%-4.19pp
- 200219.7%-3.18pp
- 200122.9%+2.51pp
- 200020.4%-3.04pp
- 199923.4%-0.86pp
- 199824.3%+6.64pp
- 199717.6%-7.07pp
- 199624.7%+1.12pp
- 199523.6%+0.12pp
- 199423.5%+1.69pp
- 199321.8%-0.17pp
- 199221.9%-0.92pp
- 199122.9%+0.35pp
- 199022.5%-0.54pp
- 198923.1%-2.07pp
- 198825.1%-0.87pp
- 198726.0%-1.81pp
- 198627.8%+1.01pp
- 198526.8%—
Operating Margin values are taken from AT&T's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at AT&T (T)
According to AT&T's latest reported financial statements, the company's latest reported operating margin is 19.4%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of AT&T (T) operating margin is 19.23% – contracted 0.6 percentage points year-over-year.
1986 marks the peak operating margin at 27.80%, with the historical low of -3.80% recorded in 2022.
AT&T Operating Margin by Year
AT&T Operating Margin 2025: 19.2%
AT&T operating margin in 2025 was 19.23%, contracted 0.6 percentage points from 2024.
AT&T Operating Margin 2024: 19.8%
2024's operating margin for AT&T came in at 19.83%, contracted 0.4 percentage points from 2023.
AT&T Operating Margin 2023: 20.2%
AT&T posted operating margin of 20.23% in 2023, expanded 24.0 percentage points from 2022.
AT&T Operating Margin 2022: -3.8%
In 2022, AT&T reported operating margin of -3.80%, contracted 23.1 percentage points from 2021. This figure represents the lowest annual value in the available history.
AT&T Operating Margin 2021: 19.3%
AT&T operating margin in 2021 was 19.32%.
See more financial history for AT&T (T).
Sector peers by Operating Margin
Communication Services peers of AT&T (T), ranked by their latest operating margin
| 41.2% | |
| 32.7% | |
| 29.7% | |
| 21.2% | |
| 20.4% | |
| 15.5% | |
| 15.3% | |
| 13.7% |
- 41.2%
- 32.7%
- 29.7%
- 21.2%
- 20.4%
- 15.5%
- 15.3%
- 13.7%
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