Revenue distribution by industry:

• Telecommunications services: approx. 70%
• Media and entertainment: approx. 20%
• Other services: approx. 10%

TOP 3 markets and their percentage shares:

• USA: approx. 80%
• Mexico: approx. 10%
• Latin America (excluding Mexico): approx. 5%

AT&T Inc. generates the majority of its revenue from the telecommunications sector, especially through mobile and broadband services. The US market is by far the largest revenue contributor, due to the strong market presence and comprehensive infrastructure in the United States.

In recent years, AT&T has also invested in the media and entertainment sector, which is reflected in a significant revenue share in this area. International markets, especially Mexico and other parts of Latin America, also contribute to the revenue, but to a significantly lesser extent compared to the domestic market in the USA.

Production Sites: USA, Mexico, India, China (estimated 2023)

AT&T Inc. is primarily a telecommunications company that offers services such as mobile, internet, and television. The physical products that AT&T distributes, such as mobile phones and routers, are often manufactured by third-party suppliers. These manufacturers have production facilities in various countries, including the USA, Mexico, India, and China.

AT&T itself does not operate large hardware production facilities, but sources them from partner companies. The choice of production sites by these partners is based on factors such as production costs, availability of skilled workers, and logistical considerations.

Strategic Focus:

• 5G Expansion and Innovation
• Focus on Fiber Internet
• Cost Efficiency and Debt Reduction

AT&T Inc. is strongly focusing on expanding its 5G infrastructure to strengthen its market position in the wireless communication sector. This includes investments in network capacity and expanding 5G coverage to better serve both residential and business customers.

Another key focus is on expanding fiber internet. AT&T plans to significantly extend the reach of its fiber optic network to provide high-speed internet to more households and businesses. This is intended to not only increase customer retention but also open up new revenue streams.

Furthermore, the company is pursuing a strategy of cost efficiency and debt reduction. Through targeted cost-cutting measures and optimizing business processes, AT&T aims to improve its financial stability while reducing its debt burden. This is intended to provide the company with more flexibility for future investments and strategic initiatives.

Main materials: Copper, fiberglass, electronic components

Countries of origin:

• Copper: Chile, Peru
• Fiberglass: China, Germany
• Electronic components: China, South Korea, Taiwan

AT&T Inc. is heavily reliant on the import of materials necessary for the expansion and maintenance of its telecommunications infrastructure. Copper is mainly imported from Chile and Peru, as these countries are among the world's largest copper producers. Fiberglass, an essential component of modern communication networks, is primarily sourced from China and Germany, as these countries are leading in the production of fiberglass cables.

Electronic components needed for the manufacturing of network devices and mobile infrastructure mainly come from Asian countries such as China, South Korea, and Taiwan. These countries are known for their advanced electronics industry and provide the necessary components in the required quality and quantity.

Market share in the USA: approx. 44% (2024, estimate)
Network coverage: 99% of the US population (2024)
Investments in 5G: over 20 billion USD (2023)

AT&T Inc. has a significant competitive advantage due to its extensive network coverage, which reaches nearly the entire US population. This is supported by continuous investments in infrastructure, especially in the expansion of the 5G network.

The company also benefits from its strong market position with an estimated market share of about 44% in the USA. This position enables AT&T to benefit from economies of scale and offer competitive prices.

Additionally, diversification in the media and entertainment sectors, particularly through the acquisition of Time Warner, strengthens AT&T's strategic position in the market. This allows the company to offer integrated services and differentiate itself from pure telecommunications providers.

Institutional investor share: approx. 55% (estimated for 2025)

Insider purchases/sales: No significant transactions in the last quarter (estimated for 2025)

The institutional investor share in AT&T Inc. has traditionally been over 50%, indicating the trust of large investment funds and institutional investors in the company's stability and profitability. These investors typically value AT&T's dividend yield and market position.

Regarding insider purchases and sales, there were no significant transactions in the last quarter. This could suggest that the management and other insiders currently do not expect significant changes in the company's value. Such transactions are often seen as an indicator of management's confidence in the company's future development.

Market share of AT&T Inc.: 18% (estimated, 2025)

Main competitors and their market shares:

1. Verizon Communications Inc. - 20%
2. T-Mobile US, Inc. - 19%
3. AT&T Inc. - 18%
4. Comcast Corporation - 12%
5. Charter Communications, Inc. - 10%
6. Dish Network Corporation - 8%
7. Altice USA, Inc. - 5%

AT&T Inc. is one of the leading providers in the telecommunications sector in the USA. AT&T's market share is approximately 18%, making it one of the top 3 providers in the industry. Verizon and T-Mobile are the biggest competitors, each having slightly higher market shares.

AT&T's moat primarily consists of its extensive infrastructure, long-standing customer relationships, and a broad service portfolio that includes both mobile and landline services. These factors provide AT&T with a certain level of protection against competitors.

However, Verizon and T-Mobile also have strong moats, particularly due to their innovation capabilities and aggressive expansion strategies in the 5G sector. T-Mobile has gained significant market share in recent years through mergers and acquisitions, as well as a strong marketing strategy.

Overall, AT&T has a solid, but not insurmountable moat. The competition is strong, and differentiation often occurs through technological innovations and customer experiences. Therefore, it is crucial for AT&T to continue investing in network expansion and customer satisfaction to remain competitive.

Revenue Growth: 2.1% (2024) Net Income Growth: 3.5% (2024) Free Cash Flow: $16.4 billion USD (2024)

AT&T Inc. recorded a moderate revenue growth of 2.1% in 2024, indicating stable demand in its core segments, especially in the telecommunications and media sectors. The net income growth of 3.5% shows that the company has improved its efficiency and optimized its cost structure.

The Free Cash Flow of $16.4 billion USD in 2024 is a positive signal for investors, highlighting the company's ability to finance investments and pay dividends. This is particularly important for investors who value stable and reliable payouts.

Overall, AT&T demonstrates solid financial performance with a focus on efficiency and cash flow generation. This could make the stock an attractive investment for investors interested in stable returns, especially in a volatile market environment.

Dividend yield: 6.5% (estimated 2025)
Dividend history: Continuous distribution over the past years

AT&T Inc. is known for its reliable dividend policy. The company has consistently distributed dividends over many years, making it an attractive choice for income investors. The estimated dividend yield of 6.5% in 2025 suggests that AT&T intends to continue offering an attractive return to its shareholders.

The reliability of the distribution is supported by the company's stable cash flow generation. Despite challenges in the telecommunications industry, AT&T has maintained its dividend policy, indicating a solid financial foundation. Analysts expect AT&T to continue its dividend policy in the coming years, provided that there are no significant negative changes in business performance.