T · CIK 0000732717 · FY2025 live · 2025-12-31
AT&T INC.
View as
Model
Z″
FY2025
0.88
Zone
Distress
vs FY2024
+0.35
Market DD
—
1y PD
—
Meridian Rank
59.40
0–100 · Z″ tape · not a PD
Book standing
45
Year change
72
Market PD
—
O-score
81
Events on this name
Same published rows as Today. Not a live recompute.
MARKET PD UNAVAILABLE
watch · 45
- mertonPd: — → —
0.88
Classic Z 0.79
Z″ 0.88 · distress below 1.10, grey to 2.60, safe above.
Z″ factor contributions
X1 Working capital / assets
Short-term liquidity. Carries more weight in Z″ than in classic Z.
−0.016.56 × = −0.08X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
0.043.26 × = 0.12X3 EBIT / assets
Operating return on assets. Highest weight in Z″.
0.066.72 × = 0.39X4 Book equity / liabilities
Book equity versus the liability stack. Sales / assets is omitted so asset-light names are not punished for turnover.
0.431.05 × = 0.45
Five-year path
Z″ plus liquidity (working capital / assets) and earnings (EBIT / assets) over the last 5 annual filings.
Overview
rule-v1
AT&T INC. is on Z″ at 0.88 (distress) for FY2025, from an SEC 10-K. Book equity / liabilities is the line that sets the print; EBIT / assets is the runner-up. Versus FY2024 the live print is still distress (+0.35 from 0.53). No market tape loaded. Z″ drops sales/assets so asset-light names are not punished for turnover. X4 is book equity on every name.
Book screen Distress; market PD —. Tape not priced — not a single default call.
MD&A excerpt
Management emphasizes wireless postpaid net adds and a still-heavy net-debt load after the WarnerMedia unwind. The MD&A describes fiber build-out as the growth capex priority, with a dividend that has already been reset. Leverage reduction remains a stated goal, funded by free cash flow after spectrum and fiber spend.
Market DD · naive Merton
No market tape yet.
Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.
Sector peers
Closest Z″ scores · 56th percentile in Communication.
- GTNDistressGRAY MEDIA, INC1.01
- IRDMDistressIridium Communications Inc.0.75
- PARADistressParamount Global0.75
- PSKYDistressParamount Skydance Corp0.67
- TLKGreyPERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK1.14
- GLIBADistressLiberty Capital Corp/NV0.61
- SSPDistressE.W. SCRIPPS Co0.60
- VSATGreyVIASAT INC1.22
KPI widgets
Current assets
$48.7B
Total assets
$420.2B
Current liabilities
$53.8B
Total liabilities
$293.7B
Working capital
−$5.0B
Retained earnings
$15.8B
EBIT
$24.2B
Total sales
$125.6B
Book equity
$126.5B
Accession 0000732717-26-000120. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Z″ is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 13 Sept 2026.