AT&T INC. (T)
Telephone Communications (No Radiotelephone)
Latest Price
$23.25
TTM P/E
7.72
Normalized P/E
14.39
Div Yield
4.77%
Book Value
18.12
P/B Ratio
1.28
Valuation metrics
adjust assumptions →Norm. op. income: $23.3B (median of 7yr)
Tax rate: 20%
Discount rate: 10%
Growth assumption: zero (EPV is a no-growth value)
Earnings Power Value
$8.44
64% downside
Base FCF: $19.4B (median of recent 5yr)
Growth: -7%/yr (median YOY, capped at 25%)
Discount rate: 10%
Terminal growth: 3%
Projection horizon: 10 years
DCF Fair Value
$2.37
90% downside
EPS: $3.04
Target P/E: 14×
Formula: EPS × P/E
P/E Fair Value
$42.56
+83% upside
Institutional Ownership
63.4% held by institutions| Institution | Shares | Value | Ownership % | Change | Filing Date |
|---|---|---|---|---|---|
| BlackRock, Inc. | 561.00M | $16.26B | 8.04% | -8.87M | 2026-03-31 |
| VANGUARD CAPITAL MANAGEMENT LLC | 454.77M | $13.18B | 6.52% | -- | 2026-03-31 |
| STATE STREET CORP | 315.80M | $9.15B | 4.53% | -16.28M | 2026-03-31 |
| Newport Trust Company, LLC | 179.47M | $5.20B | 2.57% | -3.98M | 2026-03-31 |
| GEODE CAPITAL MANAGEMENT, LLC | 175.02M | $5.05B | 2.51% | +4.01M | 2026-03-31 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 133.55M | $3.87B | 1.91% | -- | 2026-03-31 |
| BANK OF AMERICA CORP /DE/ | 125.19M | $3.63B | 1.79% | +5.45M | 2026-03-31 |
| Capital World Investors | 109.24M | $3.17B | 1.57% | +64.07M | 2026-03-31 |
| MORGAN STANLEY | 105.20M | $3.05B | 1.51% | -1.75M | 2026-03-31 |
| GQG Partners LLC | 81.35M | $2.36B | 1.17% | -4.65M | 2026-03-31 |