--- title: AT&T (T) — intrinsic value and fair price canonical: https://sweetvaluelab.com/stocks/t ticker: T as_of: 2026-10-17 sector: Communication Services industry: Telecommunications Services --- # AT&T (T) AT&T (T) closed at $23.43 on Oct 16, 2026, undervalued by 58% vs its model value of $56.16 (from a five-year discounted cash flow). ## Key figures | Figure | Value | | --- | ---: | | Last close | $23.43 (Oct 16, 2026) | | Model value (from a five-year discounted cash flow) | $56.16 | | Price vs model | undervalued by 58% vs model | | Range of that model | $22.11 – $118.25 | | Market value | $160.6B | | P/E (fiscal 2025) | 7.7 | | Net margin (fiscal 2025) | 17.4% | | Free cash flow (fiscal 2025) | $19.4B | | Dividend yield (trailing twelve months) | 4.74% | | Beta | 0.43 | | Cost of capital (WACC) | 5.96% | | Business classification | Dividend Payer (Low/slowing growth (~1% recent), Moderate margins (17% net margin), Strong dividend yield, Highly cyclical earnings, Strong FCF yield (12.1%)) | ## On the stock lists | List | Place | Figure | Page | | --- | ---: | ---: | --- | | Highest dividend yield | #31 | 4.74% | https://sweetvaluelab.com/lists/highest-dividend-yield | | Highest free cash flow yield | #18 | 12.1% | https://sweetvaluelab.com/lists/highest-free-cash-flow-yield | | Lowest P/E | #7 | 7.7× | https://sweetvaluelab.com/lists/lowest-pe | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 4.74% | | Dividends per share, last 12 months | $1.11 | | Dividends / free cash flow (fiscal 2025) | 42.1% | | Raised | — | | Growth over 5 years | -11.8% a year | | Latest payment | $0.2775, ex-date Oct 9, 2026, paid Nov 2, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Oct 7, 2021 | $2.08 | | To Oct 6, 2022 | $1.35 | | To Oct 6, 2023 | $1.11 | | To Oct 10, 2024 | $1.11 | | To Oct 10, 2025 | $1.11 | | Trailing twelve months (to Oct 9, 2026) | $1.11 | ## Valuation models Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026. | Model | Role | Value per share | Low | High | | --- | --- | ---: | ---: | ---: | | DCF · Perpetuity growth · 5y | primary | $56.16 | $22.11 | $118.25 | | DCF · Perpetuity growth · 10y | cross check | $56.64 | $23.86 | $121.88 | | DCF · EBITDA exit · 5y | cross check | $23.35 | $1.12 | $49.87 | | DCF · EBITDA exit · 10y | cross check | $29.04 | $7.70 | $58.50 | | P/E · peers | cross check | $25.44 | $9.35 | $49.05 | | P/E · own history | cross check | $23.57 | $20.10 | $40.94 | | PEG | sanity check | $19.27 | $19.27 | $19.27 | | EV/EBITDA · peers | cross check | $21.80 | $16.29 | $37.06 | | EV/Revenue · peers | cross check | $8.57 | $1.45 | $14.51 | | Earnings power value | cross check | $12.26 | $5.44 | $23.67 | | Dividend discount | cross check | $19.75 | $14.28 | $35.28 | ## Insider activity (SEC Form 4) No open-market insider buys or sales filed in the past 90 days. | Date | Insider | Relationship | Transaction | Shares | Value | | --- | --- | --- | --- | ---: | ---: | | Oct 6, 2026 | Cakaric Darcie M. | SEVP and Chief HR Officer | Option/RSU exercise | 38,655 | — | | Oct 6, 2026 | Cakaric Darcie M. | SEVP and Chief HR Officer | Tax withholding | 15,211 | $368,714.6 | | Oct 6, 2026 | Cakaric Darcie M. | SEVP and Chief HR Officer | Option/RSU exercise | 38,655 | $0 | | Sep 1, 2026 | Sabrina Sanders S | SVP-ChiefActngOfcr&Controller | Tax withholding | 9,248 | $239,430.7 | | Sep 30, 2026 | Sabrina Sanders S | SVP-ChiefActngOfcr&Controller | Grant / award | 144.549 | $3,527 | ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Oct 16, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/732717/000119312526424057/d905556d8k.htm | | Sep 9, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/732717/000119312526386534/d123248d8k.htm | | Aug 17, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/732717/000119312526354091/d153710d8k.htm | | Aug 4, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/732717/000119312526332110/d112584d8k.htm | | Jul 28, 2026 | 8-K | 2.03 Creation of a Direct Financial Obligation; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/732717/000119312526321053/d142142d8k.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | John Rogers | 2026-06-30 | 1,924,404 | $39.8M | | Bridgewater | 2026-06-30 | 180,894 | $3.7M | | Arnold Van Den Berg | 2026-06-30 | 11,394 | $235,856 | | Mairs & Power | 2026-06-30 | 11,327 | $234,469 | 4 tracked managers in all. ## About Globally, AT&T Inc. delivers an array of telecommunication, media, and technology offerings. Within its Communications division, the company supplies wireless voice and data communication services. It also markets mobile devices, such as smartphones, wireless data access cards, and portable computing gadgets, alongside accessories like protective cases and hands-free equipment. These products are distributed through AT&T's proprietary outlets, authorized agents, and external retail partners. Furthermore, this segment caters to a broad clientele including multinational corporations, small-to-medium-sized enterprises, government entities, and wholesale clients. For these customers, it delivers an extensive suite of services encompassing data, voice connectivity, cybersecurity, cloud-based solutions, outsourcing, and both managed and professional services, in addition to client-side equipme… --- Source: https://sweetvaluelab.com/stocks/t (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.