Start with its own history
At 9.93×, T is 20.4% below its 8-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · TTelecommunications ServicesUpdated Nov 2, 2026
AT&T Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
9.93×
20.4% belowthe 8-observation annual average
Share price21.545
÷Earnings per share2.17
Price and EPS in quote currency. Calculation details
Investors are paying 9.93 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 12.47×
3-year average10.66×3 positive annual observations
5-year average10.21×4 positive annual observations
10-year average12.47×8 positive annual observations
Peer median · TTM11.50×7 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 8.17× | -46.5% |
| Dec 31, 2024 | 15.28× | +79.4% |
| Dec 31, 2023 | 8.52× | N/M |
| Dec 31, 2022 | N/M | N/M |
| Dec 31, 2021 | 8.88× | N/M |
| Dec 31, 2020 | N/M | N/M |
| Dec 31, 2019 | 20.56× | +106.2% |
| Dec 31, 2018 | 9.97× | +22.4% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 8.15× | -59.7% |
| Dec 31, 2016 | 20.24× | +39.5% |
| Dec 31, 2015 | 14.51× | -46.4% |
| Dec 31, 2014 | 27.07× | +163.4% |
| Dec 31, 2013 | 10.27× | -61.9% |
| Dec 31, 2012 | 26.95× | -41.1% |
| Dec 31, 2011 | 45.78× | +423.8% |
| Dec 31, 2010 | 8.74× | -35.7% |
| Dec 31, 2009 | 13.60× | N/M |
| Dec 31, 2008 | N/M | N/M |
| Dec 31, 2007 | 21.30× | +12.7% |
| Dec 31, 2006 | 18.90× | +9.7% |
| Dec 31, 2005 | 17.23× | +19.1% |
| Dec 31, 2004 | 14.47× | +42.1% |
| Dec 31, 2003 | 10.18× | -36.1% |
| Dec 31, 2002 | 15.93× | -15.3% |
| Dec 31, 2001 | 18.82× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How T compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 T This stockAT&T Inc. | 9.93× |
 TMUST-Mobile US, Inc. | 15.25× |
 VZVerizon Communications Inc. | 11.50× |
 CHTRCharter Communications, Inc. | 2.95× |
 CMCSAComcast Corporation | 7.50× |
 DTEGYDeutsche Telekom AG | 14.38× |
 VODVodafone Group Public Limited Company | N/M |
 ORANYOrange S.A. | 9.29× |
 NTTYYNTT, Inc. | 13.59× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does T’s P/E tell you?
Compare like with like
The median of the 7 positive peer ratios above is 11.50×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take T into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("T", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 21.545 ÷ EPS 2.17 = 9.93×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 2, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
T P/E ratio: common questions
The essentials behind the numbers.
AT&T Inc.'s current P/E is 9.93× based on the quote data last updated Nov 2, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.