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Side-by-side financial comparison of Alibaba Group Holding Ltd (BABA) and AT&T (T). Click either name above to swap in a different company.
Alibaba Group Holding Ltd is the larger business by last-quarter revenue ($38.8B vs $31.5B, roughly 1.2× AT&T). AT&T runs the higher net margin — 13.3% vs 5.8%, a 7.5% gap on every dollar of revenue.
Alibaba Group Holding Limited, branded as Alibaba, is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology. Founded on 28 June 1999 in Hangzhou, Zhejiang, the company provides consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) sales services via Chinese and global marketplaces, as well as local consumer, digital media and entertainment, logistics, and cloud computing services. It owns and operates a diverse...
AT&T Inc., an abbreviation of its predecessor's original name, the American Telephone and Telegraph Company, is an American multinational telecommunications conglomerate headquartered at the Whitacre Tower in Downtown Dallas, Texas. AT&T is the world’s third-largest telecommunications company by revenue, the third largest wireless carrier in the United States behind T-Mobile and Verizon, and the nation's biggest fiber internet provider.
BABA vs T — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $38.8B | $31.5B |
| Net Profit | $2.2B | $4.2B |
| Gross Margin | 40.2% | — |
| Operating Margin | 6.6% | 21.1% |
| Net Margin | 5.8% | 13.3% |
| Revenue YoY | — | 2.9% |
| Net Profit YoY | — | -10.9% |
| EPS (diluted) | $6.64 | $0.54 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $31.5B | ||
| Q4 25 | $38.8B | $33.5B | ||
| Q3 25 | $34.2B | $30.7B | ||
| Q2 25 | $32.6B | $30.8B | ||
| Q1 25 | — | $30.6B | ||
| Q4 24 | $38.7B | $32.3B | ||
| Q3 24 | — | $30.2B | ||
| Q2 24 | — | $29.8B |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $2.2B | $3.8B | ||
| Q3 25 | $2.9B | $9.3B | ||
| Q2 25 | $1.7B | $4.5B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | $6.8B | $4.1B | ||
| Q3 24 | — | $-174.0M | ||
| Q2 24 | — | $3.6B |
| Q1 26 | — | — | ||
| Q4 25 | 40.2% | — | ||
| Q3 25 | 39.2% | — | ||
| Q2 25 | 38.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 42.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 21.1% | ||
| Q4 25 | 6.6% | 17.3% | ||
| Q3 25 | 2.2% | 19.9% | ||
| Q2 25 | 12.0% | 21.1% | ||
| Q1 25 | — | 18.8% | ||
| Q4 24 | 14.7% | 16.5% | ||
| Q3 24 | — | 7.0% | ||
| Q2 24 | — | 19.3% |
| Q1 26 | — | 13.3% | ||
| Q4 25 | 5.8% | 11.3% | ||
| Q3 25 | 8.5% | 30.3% | ||
| Q2 25 | 5.3% | 14.6% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | 17.5% | 12.6% | ||
| Q3 24 | — | -0.6% | ||
| Q2 24 | — | 12.1% |
| Q1 26 | — | $0.54 | ||
| Q4 25 | $6.64 | $0.52 | ||
| Q3 25 | $8.72 | $1.29 | ||
| Q2 25 | $5.20 | $0.62 | ||
| Q1 25 | — | $0.61 | ||
| Q4 24 | $20.40 | $0.56 | ||
| Q3 24 | — | $-0.03 | ||
| Q2 24 | — | $0.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.3B | $12.0B |
| Total DebtLower is stronger | — | $131.6B |
| Stockholders' EquityBook value | $148.7B | $125.6B |
| Total Assets | $268.6B | $421.2B |
| Debt / EquityLower = less leverage | — | 1.05× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.0B | ||
| Q4 25 | $18.3B | $18.2B | ||
| Q3 25 | $19.0B | $20.3B | ||
| Q2 25 | $20.0B | $10.5B | ||
| Q1 25 | — | $6.9B | ||
| Q4 24 | $22.3B | $3.3B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $3.1B |
| Q1 26 | — | $131.6B | ||
| Q4 25 | — | $127.1B | ||
| Q3 25 | — | $128.1B | ||
| Q2 25 | — | $123.1B | ||
| Q1 25 | — | $117.3B | ||
| Q4 24 | — | $118.4B | ||
| Q3 24 | — | $126.4B | ||
| Q2 24 | — | $125.4B |
| Q1 26 | — | $125.6B | ||
| Q4 25 | $148.7B | $126.5B | ||
| Q3 25 | $145.0B | $126.8B | ||
| Q2 25 | $139.2B | $121.4B | ||
| Q1 25 | — | $119.9B | ||
| Q4 24 | $137.2B | $118.2B | ||
| Q3 24 | — | $116.3B | ||
| Q2 24 | — | $119.3B |
| Q1 26 | — | $421.2B | ||
| Q4 25 | $268.6B | $420.2B | ||
| Q3 25 | $264.6B | $423.2B | ||
| Q2 25 | $248.6B | $405.5B | ||
| Q1 25 | — | $397.5B | ||
| Q4 24 | $254.1B | $394.8B | ||
| Q3 24 | — | $393.7B | ||
| Q2 24 | — | $398.0B |
| Q1 26 | — | 1.05× | ||
| Q4 25 | — | 1.00× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 1.01× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 1.00× | ||
| Q3 24 | — | 1.09× | ||
| Q2 24 | — | 1.05× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.2B | $7.6B |
| Free Cash FlowOCF − Capex | — | $2.5B |
| FCF MarginFCF / Revenue | — | 8.0% |
| Capex IntensityCapex / Revenue | — | 15.5% |
| Cash ConversionOCF / Net Profit | 2.31× | 1.82× |
| TTM Free Cash FlowTrailing 4 quarters | — | $17.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $7.6B | ||
| Q4 25 | $5.2B | $11.3B | ||
| Q3 25 | $1.4B | $10.2B | ||
| Q2 25 | $3.8B | $9.8B | ||
| Q1 25 | — | $9.0B | ||
| Q4 24 | $9.7B | $11.9B | ||
| Q3 24 | — | $10.2B | ||
| Q2 24 | — | $9.1B |
| Q1 26 | — | $2.5B | ||
| Q4 25 | — | $4.5B | ||
| Q3 25 | — | $5.3B | ||
| Q2 25 | — | $4.9B | ||
| Q1 25 | — | $4.8B | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | $4.9B | ||
| Q2 24 | — | $4.7B |
| Q1 26 | — | 8.0% | ||
| Q4 25 | — | 13.6% | ||
| Q3 25 | — | 17.1% | ||
| Q2 25 | — | 15.8% | ||
| Q1 25 | — | 15.6% | ||
| Q4 24 | — | 15.6% | ||
| Q3 24 | — | 16.3% | ||
| Q2 24 | — | 15.9% |
| Q1 26 | — | 15.5% | ||
| Q4 25 | — | 20.3% | ||
| Q3 25 | — | 15.9% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 14.0% | ||
| Q4 24 | — | 21.2% | ||
| Q3 24 | — | 17.5% | ||
| Q2 24 | — | 14.6% |
| Q1 26 | — | 1.82× | ||
| Q4 25 | 2.31× | 2.99× | ||
| Q3 25 | 0.49× | 1.09× | ||
| Q2 25 | 2.19× | 2.17× | ||
| Q1 25 | — | 2.08× | ||
| Q4 24 | 1.43× | 2.92× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BABA
| Alibaba China E-commerce Group | $22.8B | 59% |
| All others | $9.6B | 25% |
| Cloud Intelligence Group | $6.2B | 16% |
T
| Service | $25.5B | 81% |
| Equipment | $6.0B | 19% |
