AT&T Inc. (T)
AT&T is one of the largest US wireless carriers and a major provider of fiber broadband. After shedding its media assets, it has refocused on connectivity and network investment.
Communication Services stock comparison
T vs VZ: which business are you actually underwriting?
Compare AT&T Inc. with Verizon Communications Inc. using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Communication
- Industry
- Same SIC
- Shared themes
- 0
- Updated
- 2026-02-17
T vs VZ: quick comparison
| Company fact | T | VZ |
|---|---|---|
| Company | AT&T Inc. | Verizon Communications Inc. |
| Exchange | NYSE | NYSE |
| Headquarters | Dallas, Texas | New York, New York |
| Founded | 1983 | 1983 |
| SEC industry | Telephone Communications (No Radiotelephone) | Telephone Communications (No Radiotelephone) |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-09 | 10-K · 2026-02-17 |
T vs VZ: audited financials
VZ reported about 1.1× the revenue of T in the latest audited fiscal year. On profitability, T converted a larger share of revenue into net income (17.5% versus 12.7%). Scale and margin are starting facts for the thesis, not the verdict.
| Metric | T | VZ |
|---|---|---|
| Revenue | $125.6B | $138.2B |
| Net income | $22.0B | $17.6B |
| Operating cash flow | $40.3B | $37.1B |
| Diluted EPS | $3.04 | $4.06 |
| Net margin | 17.5% | 12.7% |
T: FY ending 2025-12-31 · VZ: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
How the businesses differ
Why this pair belongs in the comparison set
T and VZ share the SEC industry classification “Telephone Communications (No Radiotelephone),” giving the comparison a primary-source operating relationship. A shared classification or theme makes the pair useful for a defined research question; it does not mean the companies have identical products, economics, or risks.
Verizon Communications Inc. (VZ)
Verizon operates a leading US wireless network alongside a growing fiber and broadband footprint. Its scale in mobile connectivity makes it a widely held income-oriented telecom stock.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. T is classified by the SEC as Telephone Communications (No Radiotelephone), while VZ is classified as Telephone Communications (No Radiotelephone). The matching industry code strengthens the peer comparison, although product mix can still differ materially.
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The thesis, the numbers behind it, and what would break it. Full access is $15 a month.
Read the full researchWhich thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study T when…
- Digital advertising budgets and the ad cycle
- Streaming economics and content spend
- AI's effect on search and content distribution
- Antitrust and platform regulation
Study VZ when…
- Digital advertising budgets and the ad cycle
- Streaming economics and content spend
- AI's effect on search and content distribution
- Antitrust and platform regulation
Shared research themes
Telephone Communications (No Radiotelephone) (SEC industry)
SEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable.T's fiscal year ends December 31, while VZ's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 33matched transaction rows for Tand 30 for VZ. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
T primary filings
VZ primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
T vs VZ FAQs
Are T and VZ direct competitors?
AT&T Inc. and Verizon Communications Inc. share the SEC industry classification “Telephone Communications (No Radiotelephone).” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Which is better, T or VZ?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this T vs VZ comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers AT&T Inc. and Verizon Communications Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-09-25. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-09-25. Independent educational research; not investment advice.
A comparison is the setup. The thesis is the call.
T vs VZ shows how the businesses differ. Membership is the monthly sourced view of who could benefit, what could break, and what evidence matters next. $15/month or $150/year.
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