AT&T Inc. (T) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 7.56B | 11.32B | 10.15B | 9.76B | 9.05B | 11.9B | 10.23B | 9.09B | 7.55B | 11.38B | 10.34B | 9.92B | 6.68B | 10.31B | 10.07B | 5.91B | 5.73B | 11.25B | 9.87B | 10.91B |
| Operating CF Margin % | 23.99% | 33.83% | 33.06% | 31.65% | 29.55% | 36.83% | 33.88% | 30.52% | 25.13% | 35.53% | 34.06% | 33.17% | 22.16% | 32.9% | 33.52% | 19.93% | 19.29% | 36.19% | 31.49% | 30.53% |
| Operating CF Growth % | -16.49% | -4.84% | -0.81% | 7.37% | 19.9% | 4.55% | -0.98% | -8.36% | 13.01% | 10.33% | 2.63% | 67.97% | 16.5% | -8.36% | 2.08% | -45.86% | -42.26% | 11.62% | -18.62% | -9.53% |
| Net Income | 3.87B | 4.52B | 9.31B | 4.86B | 4.69B | 4.41B | 145M | 3.95B | 3.75B | 2.19B | 3.5B | 4.49B | 4.23B | -23.12B | 6.35B | 4.16B | 5.16B | 4.86B | 4.66B | 1.57B |
| Depreciation & Amortization | 4.97B | 5.13B | 5.32B | 5.25B | 5.19B | 5.37B | 5.09B | 5.07B | 5.05B | 4.77B | 4.71B | 4.67B | 4.63B | 4.59B | 4.51B | 4.45B | 5.54B | 4.5B | 4.46B | 3.09B |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.34B | 0 | 0 | 0 | 518M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | -241M | 608M | 724M | 479M | -126M | 1.33B | 1.31B | 529M | 28M | 623M | 1.17B | 932M | 2.06B | 1.71B | 1.68B |
| Other Non-Cash Items | 506M | 1.03B | -5.17B | 583M | 760M | 583M | 5.01B | -82M | 499M | 1.3B | 978M | -87M | -61M | 27.25B | -1.29B | -7.91B | 1.33B | 1.96B | -68M | 1.62B |
| Working Capital Changes | -1.78B | 638M | 691M | -932M | -1.59B | 1.77B | -613M | -570M | -2.23B | -1.09B | -169M | -462M | -2.65B | 1.04B | -123M | 4.03B | -7.24B | -2.12B | -896M | 2.96B |
| Change in Receivables | -119M | -614M | -1.48B | -511M | 1.08B | -451M | 444M | -506M | 536M | -1.09B | -169M | 663M | 377M | -294M | -271M | 1.32B | -228M | -2.01B | -993M | -334M |
| Change in Inventory | 0 | -143M | 0 | 344M | -661M | -530M | 147M | 443M | 0 | -3.43B | 482M | 0 | 0 | -2.15B | -644M | 0 | 4.03B | 0 | 0 | 0 |
| Change in Payables | -2.77B | -1.53B | 2.41B | 0 | 0 | 3.69B | 328M | 0 | 0 | 3.41B | 707M | -2.36B | -3.41B | 2.15B | 644M | 126M | -4.03B | 1.09B | 1.45B | -1.05B |
| Cash from Investing | -11.65B | -4.34B | -3.39B | -6.09B | -4.96B | -5.36B | -5.15B | -4.02B | -2.96B | -5.87B | -4.54B | -5.42B | -3.82B | -3.82B | -5.54B | -3.79B | -12.65B | -4.76B | 3.3B | -3.78B |
| Capital Expenditures | -11.65B | -6.78B | -4.89B | -4.9B | -4.28B | -6.84B | -5.3B | -4.36B | -3.76B | -4.6B | -4.65B | -4.27B | -4.33B | -4.23B | -5.92B | -4.91B | -12.65B | -3.83B | -4.7B | -3.96B |
| CapEx % of Revenue | 37% | 20.26% | 15.91% | 15.88% | 13.97% | 21.19% | 17.55% | 14.63% | 12.52% | 14.37% | 15.31% | 14.27% | 14.38% | 13.49% | 19.71% | 16.56% | 42.58% | 12.32% | 15.02% | 11.08% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -4.72B | 2.6B | 1.51B | -1.19B | -661M | 1.53B | 152M | 329M | -79M | -2.13B | 460M | -930M | 793M | 497M | 740M | 1.43B | 1.33B | 1.34B | -85M | -119M |
| Cash from Financing | -2.1B | -8.78B | 2.99B | -45M | -553M | -5.85B | -5.56B | -5.48B | -7.82B | -6.33B | -7.75B | 2.18B | -3.71B | -5.19B | -6.15B | -36.65B | 24.25B | -6.59B | -3.73B | -6.58B |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | -2.47B | 246M | -1.49B | -961M | -2.28B | 0 | -43M | -2M | -157M | -4M | -1M | -1M | -185M | -15M | -3M | -673M | -197M | -11M | -2M | -9M |
| Dividends Paid | -2B | -2.01B | -2.03B | -2.04B | -2.09B | -2.04B | -2.04B | -2.1B | -2.03B | -2.02B | -2.02B | -2.08B | -2.01B | -2.01B | -2.01B | -2.09B | -3.75B | -3.75B | -3.75B | -3.83B |
| Share Repurchases | -2.48B | 244M | -1.49B | -961M | -2.29B | -13M | -43M | -2M | -157M | -4M | -1M | -1M | -188M | -15M | -3M | -675M | -197M | -11M | -6M | -9M |
| Other Financing | -265M | -3.94B | -459M | -419M | 2.59B | -647M | -414M | -866M | -526M | -1.08B | -362M | 771M | 219M | -2.27B | -2.72B | -8.27B | 27.33B | -681M | -740M | -1.25B |
| Net Change in Cash | -6.43B | -1.75B | 9.77B | 3.63B | 3.54B | 680M | -477M | -427M | -3.23B | -826M | -1.96B | 6.68B | -851M | 1.3B | -1.62B | -34.53B | 17.33B | -89M | 9.43B | 548M |
| Free Cash Flow | -4.1B | 4.54B | 5.26B | 4.87B | 4.77B | 5.05B | 4.93B | 4.73B | 3.79B | 6.78B | 5.69B | 5.65B | 2.34B | 6.08B | 4.15B | 999M | -6.92B | 7.42B | 5.16B | 6.95B |
| FCF Margin % | -13.01% | 13.56% | 17.14% | 15.77% | 15.58% | 15.64% | 16.33% | 15.88% | 12.62% | 21.16% | 18.74% | 18.89% | 7.77% | 19.41% | 13.81% | 3.37% | -23.29% | 23.87% | 16.48% | 19.45% |
| FCF Growth % | -185.88% | -10.17% | 6.73% | 2.81% | 25.94% | -25.44% | -13.29% | -16.26% | 61.72% | 11.39% | 37.08% | 465.77% | 133.86% | -18.04% | -19.6% | -85.63% | 59.12% | -3.47% | -37.14% | -8.84% |
| FCF per Share | -0.58 | 0.63 | 0.73 | 0.67 | 0.66 | 0.70 | 0.68 | 0.66 | 0.53 | 0.94 | 0.79 | 0.79 | 0.31 | 0.81 | 0.54 | 0.13 | -0.92 | 1.03 | 0.69 | 0.93 |
| FCF Conversion (FCF/Net Income) | 1.95x | 3.04x | 1.09x | 2.17x | 2.08x | 2.92x | -58.82x | 2.53x | 2.19x | 5.20x | 2.96x | 2.21x | 1.58x | -0.44x | 1.67x | 1.42x | 1.19x | 2.23x | 1.67x | 6.95x |
| Interest Paid | 0 | -3.37B | 1.85B | 1.51B | 1.8B | 1.52B | 1.97B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | -886M | 17M | 869M | 11M | 1.57B | 583M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |