# AT&T (T) Forecast Calculator

Interactive five-year financial forecast and DCF for AT&T. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/at-t/forecast
- Industry: Communications
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 181193000000 | 29033000000 | 56172000000 | 13903000000 |
| 2022 | 143050000000 |  -  | 30895000000 | -5176000000 |
| 2023 | 134038000000 |  -  | 43749000000 | 20081000000 |
| 2024 | 120741000000 |  -  | 13434000000 | -8524000000 |
| 2025 | 122428000000 | 20461000000 | 42238000000 | 14400000000 |

## Frequently asked questions

### What is AT&T's primary business focus?

AT&T Inc. is a premier telecommunications company providing wireless and wireline connectivity services to consumers and businesses globally. The company has transitioned into a pure-play connectivity provider following the divestitures of its media and pay-TV assets.

### What are AT&T's main revenue segments?

AT&T's primary revenue segments include Mobility, which accounts for approximately 73% of segment revenue, Business Wireline, and Consumer Wireline. A smaller portion comes from its Latin America operations, mainly Mexico.

### What is AT&T's capital expenditure strategy?

AT&T's capital expenditure, typically 16% to 18% of revenue, is largely focused on growth and upgrades. Major programs include expanding the fiber network to 40 million locations by 2026 and deploying Open RAN technology.

### What is the purpose of the AT&T financial model?

The AT&T financial model projects the company's free cash flow generation and deleveraging trajectory. Its purpose is to determine equity valuation and assess the long-term sustainability of its dividend payout for an equity research or credit analyst.

### Can I download an Excel financial model for AT&T?

Yes, a downloadable Excel financial model is available for AT&T. This general corporate model forecasts the company's financials from FY2026 through FY2030.

### What are some key assumptions in AT&T's financial model?

Key assumptions in AT&T's financial model include a revenue growth rate of approximately -9.3% and COGS as 21.1% of revenue. The model also assumes a tax rate of 21% and capital expenditure at 12.7% of revenue.