Screener / SEC EDGAR /CIK 0000732717 /10-K filed Feb 9, 2026, compared with Feb 12, 2025 /Numbers from the XBRL of the 10-Ks
NYSE Communication · Telecom

AT&T T

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Cash returned and share count, year to Dec 31, 2025

Bought back $4.5B of its own shares, 8.4× what it paid in stock

XBRL, latest 10-K
Buybacks $4.5B cash paid for its own shares
Paid in stock to employees $536.0M stock-based compensation
Share count, 1 year -0.3% fewer shares: each share owns more
Share count, 3 years -5.4% diluted average shares

New shares against shares bought back

Dilution: new shares, stock pay and buybacks · S-3 and 424B, 3 years; 10-K

Shares offered

Since Nov 15, 2023: 1 shelf registration.

“… from time to time may offer to sell senior debt securities, subordinated debt securities, preferred stock, either separately or represented by depositary shares, and common stock.”

S-3ASR, Feb 28, 2025
Every offering filing

Paid in stock

$536.0M

stock-based pay, year to Dec 31, 2025

Bought back

$4.5B

cash paid for its own shares, year to Dec 31, 2025: 8.4× the stock pay

Diluted shares: 7.18B in the year to Dec 31, 2025 2025 -0.3%2024 -0.7%2023 -4.3%2022 +1.1%

Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. How

Net share count, 4 years

Shares, buybacks and stock pay, fiscal years 2021 to 2025 · 10-K XBRL

-4.3% shares
Share count -4.3% diluted average shares, 4 years to Dec 31, 2025, splits taken out
Bought back $5.8B cash paid for its own shares, summed over the 4 years
Paid in stock $2.0B stock-based compensation, and $3.0M received for shares sold, summed over the same years
Fiscal yearShares, changeBought backPaid in stockCash from shares sold
Dec 31, 2025 -0.3% $4.5B $536.0M -
Dec 31, 2024 -0.7% $215.0M $505.0M -
Dec 31, 2023 -4.3% $194.0M $479.0M $1.0M
Dec 31, 2022 +1.1% $890.0M $518.0M $2.0M

Each year's change is the diluted weighted average share count against the year before, with stock splits taken out; the headline change compares the two ends of the span on one basis. Buybacks and stock pay are added up over the same years. Buybacks that only offset stock pay leave the count flat: both are shown, no verdict. How

Where the cash came from and where it went

FY2025, from the cash flow statement in the 10-K, added up

Operating cash flowDebt raisedCapital spendingAcquisitionsBuybacksDividendsDebt repaidAdded to cash Operating cash flow: $40.3B Operating cash flow $40.3B Debt raised: $14.0B Debt raised $14.0B Capital spending: $20.8B Capital spending $20.8B Acquisitions: $379.0M Acquisitions $379.0M Buybacks: $4.5B Buybacks $4.5B Dividends: $8.2B Dividends $8.2B Debt repaid: $5.5B Debt repaid $5.5B Added to cash: $15.1B Added to cash $15.1B

Each number is a line of the cash flow statement as the company tagged it. "Other, net" is what those lines do not cover (investments bought and sold, other financing and investing lines, and exchange rates); Tickdelta does not estimate it.

Where the operating cash went, year by year

FY2015 to FY2025 · cash flow statements, 10-K XBRL

10 years
Operating cash, added up $407.0B 10 fiscal years, FY2015 to FY2025
Reinvested 69% capital spending and acquisitions, as a share of that cash
Returned to owners 32% buybacks and dividends, as a share of that cash
Debt repaid $198.5B gross repayments added up; debt that was refinanced counts each time
Fiscal yearOperating cashCapital spendingAcquisitionsBuybacksDividendsDebt repaid
Dec 31, 2025 $40.3B $20.8B$379.0M$4.5B$8.2B$5.5B
Dec 31, 2024 $38.8B $20.3B$380.0M$215.0M$8.2B$10.3B
Dec 31, 2023 $38.3B $17.9B$2.9B$194.0M$8.1B$12.0B
Dec 31, 2022 $35.8B $19.6B$10.2B$890.0M$9.9B$25.1B
Dec 31, 2021 $42.0B $15.5B$25.5B$202.0M$15.1B$3.0B
Dec 31, 2020 $43.1B $14.7B$1.6B$5.5B$15.0B$39.1B
Dec 31, 2019 $48.7B $19.6B$1.8B$2.4B$14.9B$27.6B
Dec 31, 2018 $43.6B $21.3B$43.3B$609.0M$13.4B$52.6B
Dec 31, 2017 $38.0B $20.6B-$463.0M$12.0B$12.3B
Dec 31, 2016 $38.4B $21.5B$3.0B$512.0M$11.8B$10.8B
Added up$407.0B $191.9B
47% of operating cash
$89.1B
22% of operating cash
$15.5B
4% of operating cash
$116.5B
29% of operating cash
$198.5B
49% of operating cash

Each bar is one fiscal year; its colours add up to what the cash flow statement says the company spent on each line, and the line across it is that year's operating cash flow. Spending above the line was paid from new debt, shares sold or cash on hand. A bar part links to the 10-K it comes from. A line the company did not report is left out, not estimated, so the shares are of operating cash only and can add up to more or less than 100%. Debt repaid is the gross amount, so refinanced debt is counted each time it is repaid. A reading aid, not a grade: Tickdelta does not say whether a split was good. Banks and insurers are left out.

Buybacks, dividends and share count

Year by year · XBRL, each 10-K

Fiscal year toBuybacksDividendsDiluted shares
Dec 31, 2025$4.5B $8.2B 7.18B
Dec 31, 2024$215.0M $8.2B 7.20B
Dec 31, 2023$194.0M $8.1B 7.26B
Dec 31, 2022$890.0M $9.9B 7.59B
Dec 31, 2021$202.0M $15.1B 7.50B

From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: buybacks = PaymentsForRepurchaseOfCommonStock; dividends = PaymentsOfDividendsCommonStock; sbc = AllocatedShareBasedCompensationExpense; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.

Dividend per share, year by year

Dividends · declared per share, each 10-K; cash paid, cash flow statement

Per share, FY2025 $1.11 declared in the fiscal year to Dec 31, 2025
Against the year before 0.0% dividend per share
Years in a row raised 0 no raise in the latest year
Cash paid out $8.2B cash flow statement, FY2025
Years paid in a row 10+ fiscal years, to FY2025, every year on file, dividend per share above zero
Growth a year, FY2015 to FY2025 -6.0% $1.93 to $1.11 per share, 9 years

Declared since the 10-K: Sep 30, 2026 $0.2775Jun 30, 2026 $0.2775Mar 31, 2026 $0.2775

Fiscal year toPer shareAgainst year beforeCash paid out
Dec 31, 2025 $1.11 0.0% $8.2B
Dec 31, 2024 $1.11 0.0% $8.2B
Dec 31, 2023 $1.11 0.0% $8.1B
Dec 31, 2022 $1.11 ▼-46.6% $9.9B
Dec 31, 2021 $2.08 0.0% $15.1B
Dec 31, 2020 $2.08 ▲+1.5% -
Dec 31, 2019 $2.05 ▲+2.0% -
Dec 31, 2018 $2.01 ▲+2.0% -

Dividend per share as the company tagged it (CommonStockDividendsPerShareDeclared), from the latest 10-K that reports each year, so a stock split is already in it. A change is left blank when the year before is missing or the jump is more than five times.

Buybacks month by month, and what is left to buy

Share buybacks · 10-Q, Part II Item 2, latest 4 quarters

“In January 2026, our Board of Directors approved, and we announced, an authorization to repurchase an additional $10,000 of common stock.”

10-Q, Part II Item 2
MonthShares boughtAverage price
Sep 2026 32,861,572 $25.82
Aug 2026 40,654,206 $24.44
Jul 2026 44,035,953 $21.81
Jun 2026 26,871,268 $23.36
May 2026 36,147,814 $25.14
Apr 2026 23,214,943 $26.73
Mar 2026 26,190,954 $28.26
Feb 2026 26,073,343 $27.84
Jan 2026 42,269,676 $23.87
Sep 2025 15,151,294 $29.02
Aug 2025 16,643,212 $28.41
Jul 2025 20,812,773 $27.71

Shares and average price are the numbers in the 10-Q table, row by row; "shares × price" is our multiplication of the two. A row with a price of "-" is an accelerated repurchase paid up front, where the 10-Q does not give a price yet. A 10-Q that counts shares in millions gives a rounded number, shown as "about". Shares withheld for employees' taxes are not in this table. A month that no 10-Q table gives, or that this page could not read with confidence, is not shown.

What it paid for each share it bought back

Price paid · 10-K, statement of shareholders' equity

Cheapest year $34.37 fiscal year to Dec 31, 2012
Dearest year $37.17 fiscal year to Dec 31, 2020
Average over these years $35.33 $31.1B spent

What T paid on average for each share it bought back, each fiscal year: dollars spent divided by shares bought, both from the 10-K.

Fiscal year toShares boughtSpentAverage price
Dec 31, 2020 142.00M$5.3B $37.17
Dec 31, 2013 366.00M$13.0B $35.60
Dec 31, 2012 371.00M$12.8B $34.37

Shares and dollars from the statement of shareholders' equity (the cash flow line also counts shares withheld for taxes, so it is not used). Share counts filed before a stock split are put on today's count. A year where the 10-K does not tag both numbers is left out. The latest year with both numbers tagged is 2020.

What the 10-Ks show for each CEO's years

Each CEO's years · the CEO of each fiscal year as named in the proxy's pay versus performance table

John Stankey

FY2021 to FY2025 · 5 years in the table
Operating cash flow
$195.1B
Capital spending
$94.1B
Acquisitions
$39.4B
Buybacks
$6.0B
Dividends
$49.5B
Stock-based pay
$2.5B
Diluted shares since FY2020
-3.8%
Revenue since FY2020
-12%
Debt since FY2020
-$20.5B
CEO pay (reported)
$130.5M
The proxy that names the CEO

Sources

The cash flow statement, dividends per share and diluted share count in each 10-K's XBRL; Part II Item 2 of each 10-Q for monthly buybacks; offering prospectuses (S-3, 424B) for new shares; Form D data sets for private raises.

Also

CEO pay: what the CEO was paid over the same years.

Work with it

Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/T/export.csv") into a cell.

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