Question 1

What is AT&T's P/B ratio?

Accepted Answer

AT&T (T) P/B ratio is 1.5× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for AT&T?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For AT&T specifically, the relevant sector benchmark is the current sector median of 3.7×.

Question 5

Is AT&T's P/B ratio high or low?

Accepted Answer

AT&T's P/B ratio of 1.5× is above its own 5-year average of 1.3× and below the sector median of 3.7×. That places the current reading at the 63th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is AT&T's historical P/B ratio range?

Accepted Answer

In the available daily series, AT&T (T) P/B ratio has ranged from a low of 0.7× in 2022 to a high of 3.0× in 2001. The 5-year average is 1.3× and the 5-year median is 1.3×.

Question 7

What was AT&T's P/B ratio in 2025?

Accepted Answer

AT&T (T) P/B ratio at the end of 2025 was 1.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does AT&T's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$178.08B	$110.53B	1.6×	+0.0×	Dec 31, 2025
2024	$163.96B	$104.37B	1.6×	+0.4×	Dec 31, 2024
2023	$120.65B	$103.30B	1.2×	-0.2×	Dec 31, 2023
2022	$131.76B	$97.50B	1.4×	+0.6×	Dec 31, 2022
2021	$133.18B	$166.33B	0.8×	-0.2×	Dec 31, 2021
2020	$155.23B	$161.67B	1.0×	-0.2×	Dec 31, 2020
2019	$215.70B	$184.22B	1.2×	+0.3×	Dec 31, 2019
2018	$157.16B	$184.09B	0.9×	-0.4×	Dec 31, 2018
2017	$180.88B	$140.86B	1.3×	-0.3×	Dec 31, 2017
2016	$197.77B	$123.14B	1.6×	+0.3×	Dec 31, 2016
2015	$160.11B	$122.67B	1.3×	-0.2×	Dec 31, 2015
2014	$131.77B	$89.72B	1.5×	-0.1×	Dec 31, 2014
2013	$139.79B	$90.99B	1.5×	-0.0×	Dec 31, 2013
2012	$144.02B	$92.36B	1.6×	+0.3×	Dec 31, 2012
2011	$135.39B	$105.53B	1.3×	+0.1×	Dec 31, 2011
2010	$131.19B	$111.65B	1.2×	-0.1×	Dec 31, 2010
2009	$124.87B	$101.56B	1.2×	-0.1×	Dec 31, 2009
2008	$126.76B	$96.35B	1.3×	-0.3×	Dec 31, 2008
2007	$189.85B	$115.37B	1.6×	+0.7×	Dec 31, 2007
2006	$104.90B	$115.54B	0.9×	-0.3×	Dec 31, 2006
2005	$66.01B	$54.69B	1.2×	-0.4×	Dec 31, 2005
2004	$64.32B	$40.50B	1.6×	-0.1×	Dec 31, 2004
2003	$65.12B	$38.25B	1.7×	-0.3×	Dec 31, 2003
2002	$67.89B	$33.20B	2.0×	-1.0×	Dec 31, 2002
2001	$99.32B	$32.92B	3.0×	—	Dec 31, 2001


Spotify (SPOT)	10.8×
Take-Two Interactive Software (TTWO)	10.4×
Reddit (RDDT)	8.1×
Electronic Arts (EA)	7.5×
Alphabet (GOOGL)	7.3×
DoorDash (DASH)	6.4×
Meta (META)	5.9×
Roku (ROKU)	5.2×
TKO Group Holdings (TKO)	4.6×
Trade Desk (TTD)	4.4×
T-Mobile US (TMUS)	4.1×
Pinterest (PINS)	4.1×
Snap (SNAP)	3.7×
Nebius Group (NBIS)	3.7×
Fox (FOXA)	2.3×
John Wiley & Sons (WLY)	2.2×
Warner Bros. Discovery (WBD)	2.1×
Verizon (VZ)	2.0×
Charter Communications (CHTR)	1.7×
Omnicom Group (OMC)	1.6×
News (NWSA)	1.6×
Walt Disney (DIS)	1.5×
Comcast (CMCSA)	1.2×
Telephone and Data Systems (TDS)	1.0×
Paramount Skydance (PSKY)	0.6×

P/B Ratio for AT&T (T)

P/B Ratio daily chart for AT&T (T)

Historical P/B Ratio for AT&T (T) from 2001 to 2025

About P/B Ratio at AT&T (T)

AT&T P/B Ratio by Year

AT&T P/B Ratio 2025: 1.6×

AT&T P/B Ratio 2024: 1.6×

AT&T P/B Ratio 2023: 1.2×

AT&T P/B Ratio 2022: 1.4×

AT&T P/B Ratio 2021: 0.8×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

AT&T (T) Key Financials

P/B Ratio daily chart for AT&T (T)

Historical P/B Ratio for AT&T (T) from 2001 to 2025

About P/B Ratio at AT&T (T)

AT&T P/B Ratio by Year

AT&T P/B Ratio 2025: 1.6×

AT&T P/B Ratio 2024: 1.6×

AT&T P/B Ratio 2023: 1.2×

AT&T P/B Ratio 2022: 1.4×

AT&T P/B Ratio 2021: 0.8×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is AT&T's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for AT&T?

+Is AT&T's P/B ratio high or low?

+What is AT&T's historical P/B ratio range?

+What was AT&T's P/B ratio in 2025?

+Why does AT&T's P/B ratio change over time?

AT&T (T) Key Financials