AT&T INC. (T) closed fiscal year 2025 with a gross margin of 59.6 % and a net margin of 17.5 %.
AT&T INC. (T) closed fiscal year 2025 with a gross margin of 59.6 % and a net margin of 17.5 %. The same year shows an EBITDA margin of 35.9 % and an EBIT margin of 19.2 %. The free cash flow margin was 15.5 %. Against the previous year the gross margin moved −0.2 pp and the net margin +8.5 pp. Across the period the gross margin ranges between 54.1 % in 2008 and 60.6 % in 2007. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 60.65 % | 54.08 % | 58.67 % | 59.56 % | 56.67 % | 56.66 % | 60.03 % | 54.24 % | — | — | — | — | — | — | — | 57.89 % | 59.06 % | 59.77 % | 59.55 % |
| EBITDA margin (%) | 35.30 % | 14.57 % | 33.07 % | 31.34 % | 21.78 % | 24.44 % | 38.17 % | 23.02 % | 31.88 % | 30.16 % | 27.63 % | 31.93 % | 31.00 % | 21.60 % | 32.64 % | 11.13 % | 34.50 % | 32.39 % | 35.85 % |
| EBIT margin (%) | 17.16 % | -1.37 % | 17.14 % | 15.75 % | 7.27 % | 10.20 % | 23.88 % | 9.22 % | 16.88 % | 14.37 % | 12.44 % | 15.28 % | 15.43 % | 5.85 % | 19.32 % | -3.80 % | 19.16 % | 15.57 % | 19.23 % |
| Net margin (%) | 10.05 % | -2.13 % | 9.91 % | 15.98 % | 3.11 % | 5.70 % | 14.31 % | 4.86 % | 9.09 % | 7.92 % | 18.34 % | 11.34 % | 7.67 % | -3.62 % | 14.98 % | -7.06 % | 11.76 % | 8.95 % | 17.47 % |
| FCF margin (%) | 13.89 % | 11.32 % | 14.57 % | 12.63 % | 11.55 % | 15.47 % | 10.76 % | 7.66 % | 11.35 % | 10.33 % | 10.81 % | 13.09 % | 16.02 % | 19.88 % | 19.70 % | 13.41 % | 16.71 % | 15.13 % | 15.47 % |
