Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)
P to FCFE Ratio, Current
P to FCFE Ratio, Historical

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Free Cash Flow to Equity (FCFE)

AT&T Inc., FCFE calculation

US$ in millions

	12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
	Net income (loss) attributable to AT&T
	Net income attributable to noncontrolling interest
	Net noncash charges
	Changes in operating assets and liabilities
	Net cash provided by operating activities
	Capital expenditures
	Net change in short-term borrowings with original maturities of three months or less
	Issuance of other short-term borrowings
	Repayment of other short-term borrowings
	Issuance of long-term debt
	Repayment of long-term debt
	Free cash flow to equity (FCFE)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to AT&T Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	AT&T Inc. FCFE decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Price to FCFE Ratio, Current

AT&T Inc., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)
FCFE per share
Current share price (P)
Valuation Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors¹
T-Mobile US Inc.
Verizon Communications Inc.
P/FCFE, Sector
Telecommunication Services
P/FCFE, Industry
Communication Services

Based on: 10-K (reporting date: 2023-12-31).

¹ Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

AT&T Inc., historical P/FCFE calculation, comparison to benchmarks

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
	No. shares of common stock outstanding¹
	Selected Financial Data (US$)
	Free cash flow to equity (FCFE) (in millions)²
	FCFE per share³
	Share price^1, 4
	Valuation Ratio
	P/FCFE⁵
	Benchmarks
	P/FCFE, Competitors⁶
	T-Mobile US Inc.
	Verizon Communications Inc.
	P/FCFE, Sector
	Telecommunication Services
	P/FCFE, Industry
	Communication Services

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Data adjusted for splits and stock dividends.

² See details »

³ 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =

⁴ Closing price as at the filing date of AT&T Inc. Annual Report.

⁵ 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =

⁶ Click competitor name to see calculations.