Question 1

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

Accepted Answer

AT&T (T) P/S ratio is 1.3× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

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

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For AT&T specifically, the relevant sector benchmark is the current sector median of 2.0×.

Question 5

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

Accepted Answer

AT&T's P/S ratio of 1.3× is above its own 5-year average of 1.2× and below the sector median of 2.0×. That places the current reading at the 64th 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/S ratio range?

Accepted Answer

In the available daily series, AT&T (T) P/S ratio has ranged from a low of 0.8× in 2021 to a high of 2.4× in 2007. The 5-year average is 1.2× and the 5-year median is 1.1×.

Question 7

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

Accepted Answer

AT&T (T) P/S ratio at the end of 2025 was 1.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$178B	$126B	1.4×	+0.1×	Dec 31, 2025
2024	$164B	$122B	1.3×	+0.4×	Dec 31, 2024
2023	$121B	$122B	1.0×	-0.1×	Dec 31, 2023
2022	$132B	$121B	1.1×	+0.2×	Dec 31, 2022
2021	$133B	$142B	0.9×	+0.0×	Dec 31, 2021
2020	$155B	$172B	0.9×	-0.3×	Dec 31, 2020
2019	$216B	$181B	1.2×	+0.3×	Dec 31, 2019
2018	$157B	$171B	0.9×	-0.2×	Dec 31, 2018
2017	$181B	$161B	1.1×	-0.1×	Dec 31, 2017
2016	$198B	$164B	1.2×	+0.1×	Dec 31, 2016
2015	$160B	$147B	1.1×	+0.1×	Dec 31, 2015
2014	$132B	$132B	1.0×	-0.1×	Dec 31, 2014
2013	$140B	$129B	1.1×	-0.0×	Dec 31, 2013
2012	$144B	$127B	1.1×	+0.1×	Dec 31, 2012
2011	$135B	$127B	1.1×	+0.0×	Dec 31, 2011
2010	$131B	$124B	1.1×	+0.0×	Dec 31, 2010
2009	$125B	$123B	1.0×	-0.0×	Dec 31, 2009
2008	$127B	$124B	1.0×	-0.6×	Dec 31, 2008
2007	$190B	$119B	1.6×	-0.1×	Dec 31, 2007
2006	$105B	$63.1B	1.7×	+0.2×	Dec 31, 2006
2005	$66B	$43.8B	1.5×	-0.1×	Dec 31, 2005
2004	$64.3B	$40.8B	1.6×	-0.0×	Dec 31, 2004
2003	$65.1B	$40.8B	1.6×	+0.0×	Dec 31, 2003
2002	$67.9B	$43.1B	1.6×	—	Dec 31, 2002


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John Wiley & Sons (WLY)	1.3×
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Comcast (CMCSA)	0.8×
Versant Media Group, Inc. Class A (VSNT)	0.8×
Omnicom Group (OMC)	0.8×
Charter Communications (CHTR)	0.5×
Paramount Skydance (PSKY)	0.2×

P/S Ratio for AT&T (T) 2002-2026

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

Historical P/S Ratio for AT&T (T) from 2002 to 2025

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

AT&T P/S Ratio by Year

AT&T P/S Ratio 2025: 1.4×

AT&T P/S Ratio 2024: 1.3×

AT&T P/S Ratio 2023: 1.0×

AT&T P/S Ratio 2022: 1.1×

AT&T P/S Ratio 2021: 0.9×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

AT&T (T) Key Financials