Comparison
AT&T vs Verizon Stock: Telecom Comparison
Compare AT&T and Verizon stock, wireless subscribers, dividend yields, and which telecom company is the better investment.
AT&T vs Verizon Overview
AT&T and Verizon are America’s largest telecommunications companies, competing primarily in wireless services. Both are known for their high dividend yields and stable business models.
Company Comparison
| Metric |
AT&T |
Verizon |
| Market Cap |
~$150B |
~$180B |
| Revenue (2025) |
~$125B |
~$135B |
| Founded |
1983 (current form) |
1983 |
| Headquarters |
Dallas, TX |
New York, NY |
| Dividend Yield |
~5% |
~6% |
Wireless Subscribers
| Metric |
AT&T |
Verizon |
| Postpaid Phone |
~70M |
~95M |
| Prepaid |
~18M |
~22M |
| Total Connections |
~240M |
~300M |
Verizon leads in postpaid wireless, the most valuable segment.
Business Segments
AT&T
| Segment |
Revenue % |
| Wireless |
~65% |
| Business Wireline |
~25% |
| Consumer Wireline |
~10% |
Verizon
| Segment |
Revenue % |
| Wireless |
~75% |
| Wireline/Business |
~25% |
Financial Comparison
| Metric |
AT&T |
Verizon |
| Revenue Growth |
~1% |
~1% |
| EBITDA Margin |
~35% |
~37% |
| Free Cash Flow |
~$18B |
~$20B |
| Debt |
~$130B |
~$150B |
| Debt/EBITDA |
~3.0x |
~2.8x |
Dividend Analysis
| Metric |
AT&T |
Verizon |
| Dividend Yield |
~5% |
~6% |
| Payout Ratio (vs FCF) |
~45% |
~55% |
| Consecutive Years Paid |
30+ years |
30+ years |
| Recent Dividend Trend |
Cut in 2022 (post spin-off) |
Stable growth |
Note: AT&T cut its dividend after spinning off WarnerMedia.
5G Investment
Both companies have invested heavily in 5G:
| Factor |
AT&T |
Verizon |
| 5G Strategy |
Mid-band focus |
Mix of all bands |
| C-Band Investment |
~$23B |
~$53B |
| Coverage |
Expanding |
Expanding |
Competitive Position
AT&T Strengths
- Strong fiber expansion program
- FirstNet (public safety network)
- Lower debt after WarnerMedia spin
- Improving wireless net adds
Verizon Strengths
- Best network reputation
- Largest postpaid subscriber base
- Higher-value customer mix
- Fixed wireless momentum
Risks
| Risk |
AT&T |
Verizon |
| Debt levels |
High |
High |
| Competition (T-Mobile) |
High |
High |
| Cord cutting |
Medium |
Medium |
| 5G return on investment |
Uncertain |
Uncertain |
T-Mobile Competition
T-Mobile has gained significant market share, pressuring both AT&T and Verizon on pricing and subscriber growth.
Valuation
| Metric |
AT&T |
Verizon |
| P/E Ratio |
~10x |
~10x |
| EV/EBITDA |
~6x |
~6x |
| Price/FCF |
~8x |
~9x |
Both trade at similar, low valuations typical for mature telecoms.
Which Stock to Buy?
| Preference |
Choose |
| Higher dividend yield |
Verizon |
| Better network perception |
Verizon |
| Turnaround potential |
AT&T |
| Fiber growth story |
AT&T |
| Lower debt ratio |
AT&T |
For income investors, both offer attractive yields with similar risk profiles.
Stock data as of early 2026. This comparison is for informational purposes only and does not constitute investment advice.