PerpEquities

Equity

AT&T Inc. (T) perpetual futures

T perpetual futures on 2 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade TUSDT.

AT&T Inc. provides telecommunication, media and technology services, including wireless voice and data, mobile devices, fiber internet, cybersecurity and cloud solutions to businesses, governments and consumers.

$20.88-8.0%NYSE closed
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venue perp mark · Bitget (TSTOCK/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

2/2 live markets
Venues
2
Live markets
2/2
24h volume
$288.4K
Open interest
$716.2K
Best liquidity
$276.8K
MEXC
Tightest spread
+27.8 bps
Bitget
Highest volume
$159.1K
Bitget
Settlement mix
USDT · 2/2
Perp/spot vol.
0.00x
Spot volume $553M
OI / float
0.00%
Float $140.5B
Spot performance
1D+0.43%
5D-3.97%
1M-17.18%
6M-19.77%
YTD-15.38%
1Y-17.67%

Venue matrix

2 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
BitgetTradeTSTOCK/USDTTrading$20.880.0% APR
0.000% every 8h
+27.8 bps-$159.1K$161.4KUSDT20x
MEXCTradeTSTOCK/USDTTrading$20.880.0% APR
0.000% every 8h
+28.7 bps$276.8K$129.3K$554.9KUSDT20x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

Thin liquidity · 1 of 2 venues absorb $10k · Typical cost: +24.3 bps

Cheapest execution: MEXC · +24.3 bps

No fresh book data: Bitget

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 54h ago
Market cap
$141B
Updated 54h ago
Revenue
$128.9B
Trailing 12 months
Revenue growth
+3%
Next fiscal year
Profit margin
+10.1%
P/E
11.3
Peer P/E 20.6
Free cash flow
$17.8B
Trailing 12 months
More metrics
Net income
$13.1B
Trailing 12 months
P/S
1.1
Peer P/E
20.6
Similar listed perps
Revenue estimate
$129.9B
Next fiscal year
Earnings
2027-01-27
Revenue est. $34.7B · Updated 54h ago
Dividend
$0.278
2026-10-09

Fundamental detail

Annual + quarterly
Latest revenue$125.6B
Net margin+17.4%
Free cash flow$19.4B
Net debt$155.8B
2020$171.8B
2021$134B
2022$120.7B
2023$122.4B
2024$122.3B
2025$125.6B
PeriodRevenueGrowthNet incomeFCF
2020$171.8B-5%-$5.2B$27.5B
2021$134B-22%$20.1B$25.4B
2022$120.7B-10%-$8.5B$12.4B
2023$122.4B+1%$14.4B$20.5B
2024$122.3B0%$10.9B$18.5B
2025$125.6B+3%$21.9B$19.4B
PeriodGross marginOperating marginNet marginROEROA
2020+36.9%+15.0%-3.0%-3.2%-1.0%
2021+54.9%+19.3%+15.0%+12.1%+3.6%
2022+57.9%-3.8%-7.1%-8.7%-2.1%
2023+43.7%+20.2%+11.8%+13.9%+3.5%
2024+42.9%+19.8%+8.9%+10.5%+2.8%
2025+59.6%+19.9%+17.4%+19.8%+5.2%
PeriodCashDebtNet debtCurrent ratio
2020$9.7B$179.6B$169.9B0.82
2021$19.2B$195.8B$176.6B1.61
2022$3.7B$154.7B$151B0.59
2023$6.7B$154.9B$148.2B0.71
2024$3.3B$140.9B$137.6B0.66
2025$18.2B$174B$155.8B0.91
PeriodMarket capEnterprise valueP/SP/E
2020$155.4B$325.3B0.9-28.9
2021$133.1B$309.7B1.06.7
2022$131.9B$282.9B1.1-15.1
2023$120.5B$268.7B1.08.5
2024$163.9B$301.5B1.315.3
2025$178.1B$333.8B1.48.2
Q4 2024$32.3B
Q1 2025$30.6B
Q2 2025$30.8B
Q3 2025$30.7B
Q4 2025$33.5B
Q1 2026$31.5B
Q2 2026$31.6B
Q3 2026$32.3B
PeriodRevenueGrowthNet incomeFCF
Q4 2024$32.3B+1%$4.1B$5.1B
Q1 2025$30.6B+2%$4.4B$4.8B
Q2 2025$30.8B+4%$4.5B$4.9B
Q3 2025$30.7B+2%$9.3B$5.3B
Q4 2025$33.5B+4%$3.7B$4.5B
Q1 2026$31.5B+3%$3.8B$2.7B
Q2 2026$31.6B+2%$4.6B$5.2B
Q3 2026$32.3B+5%$891M$5.5B
PeriodGross marginOperating marginNet marginROEROA
Q4 2024+39.4%+16.6%+12.6%+3.9%+1.0%
Q1 2025+60.7%+18.8%+14.2%+4.2%+1.1%
Q2 2025+60.6%+21.1%+14.6%+4.3%+1.1%
Q3 2025+61.5%+19.9%+30.3%+8.4%+2.2%
Q4 2025+55.7%+18.3%+11.1%+3.4%+0.9%
Q1 2026+60.1%+21.1%+12.2%+3.5%+0.9%
Q2 2026+61.8%+22.3%+14.7%+4.2%+1.1%
Q3 2026+61.5%+12.7%+2.8%+0.8%+0.2%
PeriodCashDebtNet debtCurrent ratio
Q4 2024$3.3B$140.9B$137.6B0.66
Q1 2025$6.9B$143.6B$136.7B0.70
Q2 2025$10.5B$150.1B$139.6B0.81
Q3 2025$20.3B$158.5B$138.2B1.01
Q4 2025$18.2B$174B$155.8B0.91
Q1 2026$12B$164.1B$152.2B0.92
Q2 2026$17.6B$162.9B$145.3B0.97
Q3 2026$10.8B$178.1B$167.4B0.87
PeriodMarket capEnterprise valueP/SP/E
Q4 2024$164B$301.6B5.110.2
Q1 2025$204B$340.7B6.711.6
Q2 2025$208.6B$348.2B6.811.7
Q3 2025$202.1B$340.3B6.65.4
Q4 2025$178.1B$333.8B5.311.7
Q1 2026$202.8B$355B6.413.4
Q2 2026$143.6B$288.9B4.67.8
Q3 2026$166.8B$334.2B5.250.8

Refreshed 54h ago

Charts: revenue, profit, cash flow & valuation
Revenue$32.3BQ3 2026
$8.4B$16.7B$25.1B$33.5BQ4 2023: $32BQ1 2024: $30BQ2 2024: $29.8BQ3 2024: $30.2BQ4 2024: $32.3BQ1 2025: $30.6BQ2 2025: $30.8BQ3 2025: $30.7BQ4 2025: $33.5BQ1 2026: $31.5BQ2 2026: $31.6BQ3 2026: $32.3BQ4 2023Q3 2026
Net income$891MQ3 2026
$2.2B$4.6B$6.9B$9.3BQ4 2023: $2.2BQ1 2024: $3.4BQ2 2024: $3.6BQ3 2024: -$174MQ4 2024: $4.1BQ1 2025: $4.4BQ2 2025: $4.5BQ3 2025: $9.3BQ4 2025: $3.7BQ1 2026: $3.8BQ2 2026: $4.6BQ3 2026: $891MQ4 2023Q3 2026
EBITDA$9.7BQ3 2026
$4.4B$8.8B$13.3B$17.7BQ4 2023: $9.4BQ1 2024: $11.6BQ2 2024: $11.8BQ3 2024: $8.2BQ4 2024: $12.3BQ1 2025: $12.8BQ2 2025: $13BQ3 2025: $17.7BQ4 2025: $11.2BQ1 2026: $12.2BQ2 2026: $12.7BQ3 2026: $9.7BQ4 2023Q3 2026
Free cash flow$5.5BQ3 2026
$1.7B$3.4B$5.1B$6.8BQ4 2023: $6.8BQ1 2024: $3.8BQ2 2024: $4.7BQ3 2024: $4.9BQ4 2024: $5.1BQ1 2025: $4.8BQ2 2025: $4.9BQ3 2025: $5.3BQ4 2025: $4.5BQ1 2026: $2.7BQ2 2026: $5.2BQ3 2026: $5.5BQ4 2023Q3 2026
EPS$0.12Q3 2026
$0.3$0.63$0.96$1.29Q4 2023: $0.3Q1 2024: $0.47Q2 2024: $0.49Q3 2024: -$0.03Q4 2024: $0.56Q1 2025: $0.61Q2 2025: $0.62Q3 2025: $1.29Q4 2025: $0.52Q1 2026: $0.54Q2 2026: $0.66Q3 2026: $0.12Q4 2023Q3 2026
Cash / Debt$10.8BQ3 2026
$44.5B$89.1B$133.6B$178.1BQ4 2023 · Cash: $6.7BQ4 2023 · Debt: $154.9BQ1 2024 · Cash: $3.5BQ1 2024 · Debt: $150.1BQ2 2024 · Cash: $3.1BQ2 2024 · Debt: $147.8BQ3 2024 · Cash: $2.6BQ3 2024 · Debt: $146.3BQ4 2024 · Cash: $3.3BQ4 2024 · Debt: $140.9BQ1 2025 · Cash: $6.9BQ1 2025 · Debt: $143.6BQ2 2025 · Cash: $10.5BQ2 2025 · Debt: $150.1BQ3 2025 · Cash: $20.3BQ3 2025 · Debt: $158.5BQ4 2025 · Cash: $18.2BQ4 2025 · Debt: $174BQ1 2026 · Cash: $12BQ1 2026 · Debt: $164.1BQ2 2026 · Cash: $17.6BQ2 2026 · Debt: $162.9BQ3 2026 · Cash: $10.8BQ3 2026 · Debt: $178.1BQ4 2023Q3 2026
CashDebt
Profitability+61.5%Q3 2026
+15.0%+30.6%+46.2%+61.8%Q4 2023 · Gross margin: +41.7%Q1 2024 · Gross margin: +43.4%Q2 2024 · Gross margin: +44.6%Q3 2024 · Gross margin: +44.7%Q4 2024 · Gross margin: +39.4%Q1 2025 · Gross margin: +60.7%Q2 2025 · Gross margin: +60.6%Q3 2025 · Gross margin: +61.5%Q4 2025 · Gross margin: +55.7%Q1 2026 · Gross margin: +60.1%Q2 2026 · Gross margin: +61.8%Q3 2026 · Gross margin: +61.5%Q4 2023 · Operating margin: +18.4%Q1 2024 · Operating margin: +20.1%Q2 2024 · Operating margin: +21.1%Q3 2024 · Operating margin: +21.8%Q4 2024 · Operating margin: +16.6%Q1 2025 · Operating margin: +18.8%Q2 2025 · Operating margin: +21.1%Q3 2025 · Operating margin: +19.9%Q4 2025 · Operating margin: +18.3%Q1 2026 · Operating margin: +21.1%Q2 2026 · Operating margin: +22.3%Q3 2026 · Operating margin: +12.7%Q4 2023 · Net margin: +6.8%Q1 2024 · Net margin: +11.5%Q2 2024 · Net margin: +12.1%Q3 2024 · Net margin: -0.6%Q4 2024 · Net margin: +12.6%Q1 2025 · Net margin: +14.2%Q2 2025 · Net margin: +14.6%Q3 2025 · Net margin: +30.3%Q4 2025 · Net margin: +11.1%Q1 2026 · Net margin: +12.2%Q2 2026 · Net margin: +14.7%Q3 2026 · Net margin: +2.8%Q4 2023Q3 2026
Gross marginOperating marginNet margin
Revenue growth+5.3%Q3 2026
+1.0%+2.4%+3.8%+5.3%Q2 2024: -0.4%Q3 2024: -0.5%Q4 2024: +0.9%Q1 2025: +2.0%Q2 2025: +3.5%Q3 2025: +1.6%Q4 2025: +3.6%Q1 2026: +2.9%Q2 2026: +2.3%Q3 2026: +5.3%Q4 2023Q3 2026
Shares outstanding6.8BQ3 2026
1.8B3.6B5.4B7.2BQ4 2023: 7.2BQ1 2024: 7.2BQ2 2024: 7.2BQ3 2024: 7.2BQ4 2024: 7.2BQ1 2025: 7.2BQ2 2025: 7.2BQ3 2025: 7.2BQ4 2025: 7.2BQ1 2026: 7BQ2 2026: 6.9BQ3 2026: 6.8BQ4 2023Q3 2026
Valuation50.8Q3 2026
-118.7-62.2-5.750.8Q4 2023 · P/E: 14.0Q1 2024 · P/E: 9.3Q2 2024 · P/E: 9.7Q3 2024 · P/E: -175.2Q4 2024 · P/E: 10.2Q1 2025 · P/E: 11.6Q2 2025 · P/E: 11.7Q3 2025 · P/E: 5.4Q4 2025 · P/E: 11.7Q1 2026 · P/E: 13.4Q2 2026 · P/E: 7.8Q3 2026 · P/E: 50.8Q4 2023 · P/S: 3.8Q1 2024 · P/S: 4.2Q2 2024 · P/S: 4.6Q3 2024 · P/S: 5.2Q4 2024 · P/S: 5.1Q1 2025 · P/S: 6.7Q2 2025 · P/S: 6.8Q3 2025 · P/S: 6.6Q4 2025 · P/S: 5.3Q1 2026 · P/S: 6.4Q2 2026 · P/S: 4.6Q3 2026 · P/S: 5.2Q4 2023Q3 2026
P/EP/S
Revenue$125.6B2025
$45.3B$90.6B$135.9B$181.2B2018: $170.8B2019: $181.2B2020: $171.8B2021: $134B2022: $120.7B2023: $122.4B2024: $122.3B2025: $125.6B20182025
Net income$21.9B2025
-$920.8M$6.7B$14.3B$21.9B2018: $19.4B2019: $13.9B2020: -$5.2B2021: $20.1B2022: -$8.5B2023: $14.4B2024: $10.9B2025: $21.9B20182025
EBITDA$54.7B2025
$15.3B$30.6B$45.9B$61.2B2018: $61.2B2019: $55.1B2020: $33.6B2021: $53.7B2022: $21.1B2023: $45.3B2024: $44B2025: $54.7B20182025
Free cash flow$19.4B2025
$7.3B$14.6B$21.9B$29.2B2018: $22.8B2019: $29.2B2020: $27.5B2021: $25.4B2022: $12.4B2023: $20.5B2024: $18.5B2025: $19.4B20182025
EPS$3.042025
-$0.09$0.96$2$3.042018: $2.852019: $1.892020: -$0.752021: $2.732022: -$1.132023: $1.972024: $1.492025: $3.0420182025
Cash / Debt$18.2B2025
$49B$97.9B$146.9B$195.8B2018 · Cash: $5.2B2018 · Debt: $176.5B2019 · Cash: $12.1B2019 · Debt: $185B2020 · Cash: $9.7B2020 · Debt: $179.6B2021 · Cash: $19.2B2021 · Debt: $195.8B2022 · Cash: $3.7B2022 · Debt: $154.7B2023 · Cash: $6.7B2023 · Debt: $154.9B2024 · Cash: $3.3B2024 · Debt: $140.9B2025 · Cash: $18.2B2025 · Debt: $174B20182025
CashDebt
Profitability+59.6%2025
+9.6%+26.2%+42.9%+59.6%2018 · Gross margin: +36.9%2019 · Gross margin: +38.0%2020 · Gross margin: +36.9%2021 · Gross margin: +54.9%2022 · Gross margin: +57.9%2023 · Gross margin: +43.7%2024 · Gross margin: +42.9%2025 · Gross margin: +59.6%2018 · Operating margin: +16.0%2019 · Operating margin: +16.8%2020 · Operating margin: +15.0%2021 · Operating margin: +19.3%2022 · Operating margin: -3.8%2023 · Operating margin: +20.2%2024 · Operating margin: +19.8%2025 · Operating margin: +19.9%2018 · Net margin: +11.3%2019 · Net margin: +7.7%2020 · Net margin: -3.0%2021 · Net margin: +15.0%2022 · Net margin: -7.1%2023 · Net margin: +11.8%2024 · Net margin: +8.9%2025 · Net margin: +17.4%20182025
Gross marginOperating marginNet margin
Revenue growth+2.7%2025
-14.9%-7.9%-0.9%+6.1%2019: +6.1%2020: -5.2%2021: -22.0%2022: -9.9%2023: +1.4%2024: -0.1%2025: +2.7%20182025
Shares outstanding7.2B2025
1.9B3.8B5.7B7.6B2018: 6.8B2019: 7.3B2020: 7.2B2021: 7.5B2022: 7.6B2023: 7.3B2024: 7.2B2025: 7.2B20182025
Valuation8.22025
-17.8-6.74.415.52018 · P/E: 7.52019 · P/E: 15.52020 · P/E: -28.92021 · P/E: 6.72022 · P/E: -15.12023 · P/E: 8.52024 · P/E: 15.32025 · P/E: 8.22018 · P/S: 0.92019 · P/S: 1.22020 · P/S: 0.92021 · P/S: 1.02022 · P/S: 1.12023 · P/S: 1.02024 · P/S: 1.32025 · P/S: 1.420182025
P/EP/S

Next catalyst

Catalysts

Earnings
2027-01-27
Revenue est. $34.7B · Updated 54h ago
Dividend
$0.278
2026-10-09

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20262.39$129.9B+3%13
FY 20272.59$130.3B+4%13
FY 20282.94$132.5B+5%6
FY 20293.17$137.7B+10%3
FY 20303.49$140.1B+12%2
Q1 20270.61$31.6B0%7

Company events

6
2027-01-27EarningsActual - / Estimate 0.52-
2026-10-21Earnings · Before market openActual 0.65 / Estimate 0.6Beat
2026-10-09Dividend$0.278-
2026-07-22EarningsActual 0.65 / Estimate 0.59Beat
2026-07-10Dividend$0.278-
2026-04-22EarningsActual 0.57 / Estimate 0.55Beat

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering T have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings143389
Analysts3048
Buy / hold / sell94 / 42 / 7284 / 97 / 8
Upgrades / downgrades / initiations6 / 6 / 519 / 9 / 10
Price targets hit / missed7 / 121 (5%)70 / 283 (20%)
Avg. return after a rating (TipRanks)-21.4%-14.2%
Best / worst call+26.3% / -36.8%+74.9% / -36.8%

After buy calls on this stock: median 21-day move +1.0% vs S&P 500 -1.0% (n = 281)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Timothy HoranOppenheimer88% hit rate on this stock · 8 targets measuredHoldno targetOct 22, 2026
  2. Maher YaghiScotiabank86% hit rate on this stock · 14 targets measuredHoldtarget $26.50Oct 22, 2026
  3. Eric LuebchowWells Fargo79% hit rate on this stock · 14 targets measuredBuytarget $28.00Apr 23, 2026

Latest ratings

DateAnalystCallTarget
Oct 22, 2026Ryan GravettUBSBuyMaintained$31.00
Oct 22, 2026Maher YaghiScotiabankHoldMaintained$26.50
Oct 22, 2026Timothy HoranOppenheimerHoldMaintained–
Oct 22, 2026Gregory WilliamsTD CowenHoldReiterated$33.00
Oct 21, 2026Marie FergusonArgus ResearchBuyMaintained$30.00
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$20.00$22.00$24.00$26.00$28.00$30.00$32.00Nov 25 · Buy 16 · Hold 5 · Sell 0Nov 25Dec 25 · Buy 15 · Hold 6 · Sell 0Jan 26 · Buy 15 · Hold 5 · Sell 1Jan 26Feb 26 · Buy 14 · Hold 5 · Sell 1Mar 26 · Buy 13 · Hold 6 · Sell 0Mar 26Apr 26 · Buy 17 · Hold 7 · Sell 0May 26 · Buy 17 · Hold 7 · Sell 0May 26Jun 26 · Buy 18 · Hold 8 · Sell 0Jul 26 · Buy 18 · Hold 8 · Sell 2Jul 26Aug 26 · Buy 18 · Hold 8 · Sell 2Sep 26 · Buy 18 · Hold 6 · Sell 2Sep 26Oct 26 · Buy 15 · Hold 7 · Sell 2Nov 25 · avg. target $31.21Dec 25 · avg. target $30.75Jan 26 · avg. target $29.92Feb 26 · avg. target $29.92Mar 26 · avg. target $30.97Apr 26 · avg. target $31.07May 26 · avg. target $31.07Jun 26 · avg. target $31.27Jul 26 · avg. target $29.40Aug 26 · avg. target $29.40Sep 26 · avg. target $29.60Oct 26 · avg. target $28.53Nov 25 · month-end close $26.02Dec 25 · month-end close $24.84Jan 26 · month-end close $26.21Feb 26 · month-end close $28.01Mar 26 · month-end close $28.99Apr 26 · month-end close $26.13May 26 · month-end close $24.80Jun 26 · month-end close $20.70Jul 26 · month-end close $23.25Aug 26 · month-end close $25.89Sep 26 · month-end close $24.40Oct 26 · month-end close $20.93

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Oct 23, 2026 · 143 ratings

Frequently asked questions

Where can I trade T perpetual futures?

AT&T Inc. (T) perpetual futures trade on 2 crypto venues, including Bitget, MEXC. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade T around the clock?

Yes. Unlike the underlying stock, T perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on T perpetuals?

Right now the T perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to 0.0% across 2 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the T perp price compare to the AT&T Inc. stock?

The venue-median T perp mark is $20.9 versus a reference stock price of $20.9, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a T perpetual future?

A T perpetual is a derivative that tracks the price of AT&T Inc. with no expiry date. It lets you take long or short exposure to AT&T Inc. on crypto venues, around the clock.

What is TUSDT perpetual?

TUSDT is the symbol most crypto exchanges use for the AT&T Inc. perpetual settled in USDT (Tether). It tracks the T share price through an index, trades 24/7 with leverage and never expires.

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