𝗔𝗧&𝗧 𝗜𝗻𝗰. 𝗙𝗬𝟮𝟬𝟮𝟱 𝗔𝘁 𝗮 𝗚𝗹𝗮𝗻𝗰𝗲 Fiscal year to 31 December 2025. Revenue $125.65bn, operating income $24.16bn, net income $23.39bn, EPS $3.04 basic and $3.04 diluted — a company so large that the basic and diluted lines have stopped arguing. Market cap $174.39bn. Total assets $420.20bn, of which $143.73bn is debt, which rose $16.52bn on the prior year. Revenue moved $3.31bn, or +2.7%. For most companies that is a rounding error in the marketing budget; here it is larger than the entire Latin America segment, which reported $1.17bn. The recent history is less sedate than the phone-bill business implies. FY2022 posted an operating loss of $4.59bn and a net loss of $7.05bn, with EPS at -$1.13. FY2024 netted $12.25bn. FY2025 netted $23.39bn. Three years, three completely different companies wearing the same logo. Operating cash flow was $40.28bn. Capex was $20.84bn. Dividends paid were $8.18bn, at $0.28 per share per quarter, a figure the company has now declared eight consecutive times without so much as changing a decimal place — the corporate equivalent of ordering the same sandwich every day for two years. The balance sheet reports a current ratio of 0.9x. The 10-K filed 2026-02-09 describes two reportable segments, 120 million Mobility subscribers, and an active project to dig up its own copper. Link in comments $T