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AT&T (XKAZ:T_KZ) Cyclically Adjusted PB Ratio : (As of Jul. 24, 2025)


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What is AT&T Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


AT&T Cyclically Adjusted PB Ratio Historical Data

The historical data trend for AT&T's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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AT&T Cyclically Adjusted PB Ratio Chart

AT&T Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.99 0.79 0.75 0.68 0.93

AT&T Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.77 0.89 0.93 1.15 -

Competitive Comparison of AT&T's Cyclically Adjusted PB Ratio

For the Telecom Services subindustry, AT&T's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


AT&T's Cyclically Adjusted PB Ratio Distribution in the Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, AT&T's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where AT&T's Cyclically Adjusted PB Ratio falls into.


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AT&T Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

AT&T's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2025 is calculated as:

For example, AT&T's adjusted Book Value per Share data for the three months ended in Jun. 2025 was:

Adj_Book=Book Value per Share/CPI of Jun. 2025 (Change)*Current CPI (Jun. 2025)
=14.583/135.3468*135.3468
=14.583

Current CPI (Jun. 2025) = 135.3468.

AT&T Quarterly Data

Book Value per Share CPI Adj_Book
201509 19.802 100.392 26.697
201512 19.963 99.792 27.075
201603 20.050 100.470 27.010
201606 20.059 101.688 26.699
201609 20.130 101.861 26.748
201612 20.058 101.863 26.651
201703 20.145 102.862 26.507
201706 20.314 103.349 26.603
201709 20.354 104.136 26.454
201712 22.944 104.011 29.856
201803 23.736 105.290 30.512
201806 25.205 106.317 32.087
201809 25.288 106.507 32.136
201812 25.281 105.998 32.281
201903 25.367 107.251 32.012
201906 25.223 108.070 31.589
201909 25.064 108.329 31.315
201912 25.394 108.420 31.701
202003 24.951 108.902 31.010
202006 24.686 108.767 30.719
202009 24.639 109.815 30.368
202012 22.688 109.897 27.942
202103 23.178 111.754 28.071
202106 22.731 114.631 26.839
202109 22.937 115.734 26.824
202112 23.292 117.630 26.800
202203 23.612 121.301 26.346
202206 16.524 125.017 17.889
202209 17.177 125.227 18.565
202212 13.678 125.222 14.784
202303 13.903 127.348 14.776
202306 14.253 128.729 14.986
202309 14.505 129.860 15.118
202312 14.447 129.419 15.109
202403 14.580 131.776 14.975
202406 14.687 132.554 14.996
202409 14.266 133.029 14.515
202412 14.545 133.157 14.784
202503 14.418 134.927 14.463
202506 14.583 135.347 14.583

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


AT&T  (XKAZ:T_KZ) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


AT&T Cyclically Adjusted PB Ratio Related Terms

Thank you for viewing the detailed overview of AT&T's Cyclically Adjusted PB Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


AT&T Business Description

Address
208 S. Akard Street, Dallas, TX, USA, 75202
The wireless business contributes nearly 70% of AT&T's revenue. The firm is the third-largest US wireless carrier, connecting 73 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 15% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&T also has a sizable presence in Mexico, with 24 million customers, but this business only accounts for 3% of revenue. The firm has agreed to sell its 70% equity stake in satellite television provider DirecTV to its partner, private equity firm TPG.

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