At&T annual debt-to-equity ratio
2008
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2024
2025
At&T Debt-to-Equity Ratio Growth & History (T)
At&T's debt-to-equity ratio was 1.25 for fiscal 2025.
View full At&T company overviewAt&T annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 1.25 | 0.03 | +2.65% |
| 2024 | 2024-12-31 | 1.22 | −0.13 | −9.44% |
| 2023 | 2023-12-31 | 1.35 | −0.14 | −9.17% |
| 2022 | 2022-12-31 | 1.49 | 0.41 | +37.91% |
| 2021 | 2021-12-31 | 1.08 | 0.06 | +5.48% |
| 2020 | 2020-12-31 | 1.02 | 0.09 | +9.42% |
| 2019 | 2019-12-31 | 0.93 | 0.06 | +6.85% |
| 2018 | 2018-12-31 | 0.87 | −0.01 | −1.57% |
| 2017 | 2017-12-31 | 0.89 | −0.03 | −3.15% |
| 2016 | 2016-12-31 | 0.92 | −0.04 | −4.44% |
| 2015 | 2015-12-31 | 0.96 | 0.12 | +14.19% |
| 2014 | 2014-12-31 | 0.84 | 0.11 | +14.59% |
| 2013 | 2013-12-31 | 0.73 | 0.04 | +5.60% |
| 2012 | 2012-12-31 | 0.69 | 0.08 | +12.93% |
| 2011 | 2011-12-31 | 0.61 | 0.02 | +3.53% |
| 2010 | 2010-12-31 | 0.59 | −0.12 | −16.32% |
| 2009 | 2009-12-31 | 0.71 | −0.07 | −8.88% |
| 2008 | 2008-12-31 | 0.78 | — | — |
At&T quarterly debt-to-equity ratio
Q4.08
Q2.09
Q3.09
Q4.09
Q1.10
Q2.10
Q3.10
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Q1.11
Q2.11
Q3.11
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Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
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Q3.13
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Q3.15
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Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
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Q3.18
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Q1.20
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Q3.20
Q4.20
Q1.21
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Q4.21
Q1.22
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Q3.22
Q4.22
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Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 1.21 | 0.05 | +4.70% |
| Q1 2026 | 2026-03-31 | 1.20 | 0.07 | +6.61% |
| Q4 2025 | 2025-12-31 | 1.25 | 0.03 | +2.65% |
| Q3 2025 | 2025-09-30 | 1.16 | −0.08 | −6.09% |
| Q2 2025 | 2025-06-30 | 1.16 | −0.03 | −2.87% |
| Q1 2025 | 2025-03-31 | 1.12 | −0.08 | −6.78% |
| Q4 2024 | 2024-12-31 | 1.22 | −0.13 | −9.44% |
| Q3 2024 | 2024-09-30 | 1.24 | −0.02 | −1.57% |
| Q2 2024 | 2024-06-30 | 1.19 | −0.10 | −7.49% |
| Q1 2024 | 2024-03-31 | 1.21 | −0.14 | −10.34% |
| Q4 2023 | 2023-12-31 | 1.35 | −0.14 | −9.17% |
| Q3 2023 | 2023-09-30 | 1.26 | 0.13 | +11.71% |
| Q2 2023 | 2023-06-30 | 1.29 | 0.11 | +9.27% |
| Q1 2023 | 2023-03-31 | 1.34 | 0.25 | +22.45% |
| Q4 2022 | 2022-12-31 | 1.49 | 0.41 | +37.91% |
| Q3 2022 | 2022-09-30 | 1.12 | 0.13 | +12.83% |
| Q2 2022 | 2022-06-30 | 1.18 | 0.17 | +17.35% |
| Q1 2022 | 2022-03-31 | 1.10 | 0.08 | +8.06% |
| Q4 2021 | 2021-12-31 | 1.08 | 0.06 | +5.48% |
| Q3 2021 | 2021-09-30 | 1.00 | 0.08 | +8.83% |
| Q2 2021 | 2021-06-30 | 1.01 | 0.08 | +8.74% |
| Q1 2021 | 2021-03-31 | 1.02 | 0.13 | +15.31% |
| Q4 2020 | 2020-12-31 | 1.02 | 0.09 | +9.42% |
| Q3 2020 | 2020-09-30 | 0.92 | −0.01 | −0.81% |
| Q2 2020 | 2020-06-30 | 0.93 | −0.01 | −1.12% |
| Q1 2020 | 2020-03-31 | 0.88 | −0.07 | −7.27% |
| Q4 2019 | 2019-12-31 | 0.93 | 0.06 | +6.85% |
| Q3 2019 | 2019-09-30 | 0.92 | 0.01 | +1.28% |
| Q2 2019 | 2019-06-30 | 0.94 | 0.02 | +2.31% |
| Q1 2019 | 2019-03-31 | 0.95 | 0.04 | +4.52% |
| Q4 2018 | 2018-12-31 | 0.87 | −0.01 | −1.57% |
| Q3 2018 | 2018-09-30 | 0.91 | −0.32 | −25.75% |
| Q2 2018 | 2018-06-30 | 0.92 | −0.14 | −13.29% |
| Q1 2018 | 2018-03-31 | 0.91 | −0.06 | −5.75% |
| Q4 2017 | 2017-12-31 | 0.89 | −0.03 | −3.15% |
| Q3 2017 | 2017-09-30 | 1.23 | 0.29 | +30.40% |
| Q2 2017 | 2017-06-30 | 1.06 | 0.11 | +11.89% |
| Q1 2017 | 2017-03-31 | 0.96 | −0.02 | −1.71% |
| Q4 2016 | 2016-12-31 | 0.92 | −0.04 | −4.44% |
| Q3 2016 | 2016-09-30 | 0.94 | −0.03 | −3.24% |
| Q2 2016 | 2016-06-30 | 0.94 | −0.26 | −21.45% |
| Q1 2016 | 2016-03-31 | 0.98 | −0.03 | −3.15% |
| Q4 2015 | 2015-12-31 | 0.96 | 0.12 | +14.19% |
| Q3 2015 | 2015-09-30 | 0.97 | 0.22 | +28.40% |
| Q2 2015 | 2015-06-30 | 1.20 | 0.41 | +51.18% |
| Q1 2015 | 2015-03-31 | 1.01 | 0.23 | +29.37% |
| Q4 2014 | 2014-12-31 | 0.84 | 0.11 | +14.59% |
| Q3 2014 | 2014-09-30 | 0.76 | −0.04 | −4.57% |
| Q2 2014 | 2014-06-30 | 0.79 | −0.04 | −4.67% |
| Q1 2014 | 2014-03-31 | 0.78 | −0.02 | −2.10% |
| Q4 2013 | 2013-12-31 | 0.73 | 0.04 | +5.60% |
| Q3 2013 | 2013-09-30 | 0.79 | 0.16 | +26.07% |
| Q2 2013 | 2013-06-30 | 0.83 | 0.21 | +33.73% |
| Q1 2013 | 2013-03-31 | 0.80 | 0.18 | +28.09% |
| Q4 2012 | 2012-12-31 | 0.69 | 0.08 | +12.93% |
| Q3 2012 | 2012-09-30 | 0.63 | 0.00 | +0.64% |
| Q2 2012 | 2012-06-30 | 0.62 | 0.04 | +6.79% |
| Q1 2012 | 2012-03-31 | 0.62 | 0.05 | +8.40% |
| Q4 2011 | 2011-12-31 | 0.61 | 0.02 | +3.53% |
| Q3 2011 | 2011-09-30 | 0.63 | 0.02 | +2.74% |
| Q2 2011 | 2011-06-30 | 0.58 | −0.09 | −13.75% |
| Q1 2011 | 2011-03-31 | 0.58 | −0.10 | −14.99% |
| Q4 2010 | 2010-12-31 | 0.59 | −0.12 | −16.32% |
| Q3 2010 | 2010-09-30 | 0.61 | −0.12 | −16.22% |
| Q2 2010 | 2010-06-30 | 0.68 | −0.10 | −12.70% |
| Q1 2010 | 2010-03-31 | 0.68 | — | — |
| Q4 2009 | 2009-12-31 | 0.71 | −0.07 | −8.52% |
| Q3 2009 | 2009-09-30 | 0.73 | — | — |
| Q2 2009 | 2009-06-30 | 0.77 | — | — |
| Q4 2008 | 2008-12-31 | 0.78 | — | — |
At&T debt-to-equity ratio trends
Over the last five fiscal years, At&T's debt-to-equity ratio increased from 1.02 to 1.25, a change of 0.23. The latest reported quarter, Q2 2026, shows 1.21.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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