AT&T or Verizon Communications: which stock is cheaper in 2026?
As of October 5, 2026, AT&T (T) trades at 8.1× earnings (P/E) and Verizon Communications (VZ) at 12.0×, according to Kaplio. The median across the 66 communication companies above $2bn in Kaplio's universe is 18.5×. Kaplio's verdict: AT&T, cheap; Verizon Communications, fairly priced. Value range by multiples: $34–$56 for AT&T and $47–$71 for Verizon Communications. Against its own value range, AT&T is the cheaper of the two today.
According to the Kaplio Summary
The same verdict as each company's page: price range by multiples, the four lights, the expected return if consensus is right and what Buffett and Lynch would say today.
| AT&T (T) | Verizon Communications (VZ) | |
|---|---|---|
| Summary valuation | cheap ($34–$56) | fairly priced ($47–$71) |
| The four lights | Valuation: P/E 8.1× (cheap) Business: EBITDA margin 43.5 % (excellent) Balance sheet: Net debt/EBITDA 2.8× (solid) Results: 8 of 8 (on track) | Valuation: P/E 12.0× (fairly priced) Business: EBITDA margin 34.5 % (solid) Balance sheet: Net debt/EBITDA 3.8× (watch) Results: 7 of 8 (on track) |
| Expected return (per year) | +3.1 % a year (to 2028) | +27.3 % a year (to 2028) |
| Buffett method | quality 31 · would not approve | quality 55 · would not approve |
| Lynch method | stalwart · would not approve | outside his circle |
Metrics side by side
| Metric | AT&T (T) | Verizon Communications (VZ) |
|---|---|---|
| Overview | ||
| Market Cap | $167B | $192B |
| Price | $24.30 | $45.92 |
| Valuation | ||
| P/E | 8.1× | 12.0× |
| P/B | 1.5× | 1.8× |
| P/S | 1.3× | 1.4× |
| EV/EBITDA | 5.8× | 7.9× |
| FCF Yield | 10.6 % | 11.2 % |
| Dividend Yield | 4.6 % | 6.1 % |
| Profitability | ||
| ROIC | 6.0 % | 5.8 % |
| ROE | 19.5 % | 15.5 % |
| Gross Margin | 59.7 % | 59.1 % |
| Operating Margin | 20.4 % | 20.5 % |
| Net Margin | 16.9 % | 11.6 % |
| Growth | ||
| Revenue 5Y CAGR | -6.1 % | 1.5 % |
| EPS 5Y CAGR | — | -1.1 % |
| FCF 5Y CAGR | -6.7 % | -1.3 % |
| Balance Sheet | ||
| Net Debt / EBITDA | 2.8× | 3.8× |
| Debt / Equity | 1.5× | 1.8× |
Trailing twelve months where available; otherwise the latest fiscal year. Growth: five-year compound annual rate.