AT&T Inc. 5.350% Global Notes due 2066 (TBB)

FairStock Score: 58/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am looking at a long-dated AT&T note, not the common equity, so my first question is whether the parent can service a 5.350% obligation maturing in 2066. AT&T's filed results show scale and steady cash generation. In fiscal 2025, the year ended 2025-12-31, revenue was $125.6B, net income was $22.0B, and diluted EPS was $3.04. That was a big rebound from fiscal 2024, the year ended 2024-12-31, when revenue was $122.3B, net income was $10.9B, and diluted EPS was $1.49. Fiscal 2023, the year ended 2023-12-31, had revenue of $122.4B, net income of $14.4B, and diluted EPS of $1.97. The latest filed quarter, fiscal Q2 2026, the quarter ended 2026-06-30, showed $31.6B revenue, $4.6B net income, and $0.66 diluted EPS. Trailing free cash flow was $17.7B, a 14.0% FCF yield on the $126.0B market cap, according to FairStock. The wireless and broadband franchise has scale and network assets, but telecom is capital-intensive and competitive, so the moat is narrower than it looks. Financial health is mixed: FairStock's Piotroski F-Score is 7/9, yet its Altman Z-Score is 0.44, a distress signal. Valuation looks cheap on some measures—P/E 3.57, EV/EBITDA 5.05, PEG 1.27—and the FairStock Score is 58/100. The price closed at $18.39 on 2026-10-13, near the 52-week low of $18.29 and far below the high of $23.62. Revenue growth was modest: fiscal 2025 revenue of $125.6B was only slightly above fiscal 2024's $122.3B, while profit rebounded sharply. FairStock classifies AT&T as a turnaround. For this 2066 note, the fixed coupon matters, but duration and credit risk dominate.

In plain English: AT&T is a large communications company that provides wireless, internet and phone services. The specific security here is a very long-term AT&T note due in 2066, and the parent reported $125.6B of revenue and $22.0B of net income in fiscal 2025, so the underlying business looks reasonably sturdy. At $18.39, near the low end of its 52-week range, the market appears cautious about this long-term note even though some valuation measures look cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer