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Verizon Communications Inc. (VZ)

Verizon is a holding company whose subsidiaries provide communications, technology, information and streaming products and services to consumers, businesses and government bodies. It offers data, video and voice over its own networks and platforms. There are two reportable segments, Verizon Consumer Group and Verizon Business Group, run as strategic business units. The company had approximately 89,900 employees on a full-time equivalent basis at 31 December 2025, 89% of them based in the United States.

Verizon Communications Inc.

Verizon is a holding company whose subsidiaries provide communications, technology, information and streaming products and services to consumers, businesses and government bodies. It offers data, video and voice over its own networks and platforms. There are two reportable segments, Verizon Consumer Group and Verizon Business Group, run as strategic business units. The company had approximately 89,900 employees on a full-time equivalent basis at 31 December 2025, 89% of them based in the United States.

Consumer

Wireless and wireline services for households, sold across one of the most extensive wireless networks in the United States under the Verizon family of brands and through wholesale and other arrangements. Wireline service runs over a wholly fibre-optic network in 31 states and Washington D.C. and over a traditional copper network, and fixed wireless access broadband is offered over the 5G and 4G LTE networks as an alternative to a landline connection. The segment produced approximately 77% of consolidated revenues in 2025. It had approximately 116 million wireless retail connections including fixed wireless access at 31 December 2025, 83% of them postpaid, approximately 11 million total broadband connections covering Fios internet, fixed wireless access and digital subscriber line, and approximately 2 million Fios video connections.

Business

Wireless and wireline services for companies, public sector customers and other carriers: mobility, fixed wireless access and wireline broadband, Internet of Things connectivity, advanced communication services, corporate networking, local and long distance voice, and security and managed network services. The full range is sold across the United States and a subset of it around the world. The segment produced approximately 21% of consolidated revenues in 2025. At 31 December 2025 it had approximately 31 million wireless retail postpaid connections including fixed wireless access and approximately 3 million total broadband connections.

How wireless is sold

Customers take service on a postpaid or prepaid basis. Postpaid accounts are served and managed directly by Verizon under its own brands, may cover several connected devices on one account, and are generally billed a month in advance for access to and use of the network. Prepaid is offered only to consumer customers and requires no credit check because everything is paid for in advance. At 31 December 2025 there were 96 million postpaid and 20 million prepaid connections, approximately 83% and 17% of consumer wireless retail connections. Consumer phone plans are built around features the company calls perks, alongside lower-priced access plans and discounted rate plans for qualifying customers.

Fibre and the Frontier acquisition

Residential and enterprise wireline broadband runs over the wholly fibre-optic network under the Verizon fibre product portfolio and over the older copper network. Fios was built as a consumer broadband network but is increasingly used in the Business segment as companies move to ethernet-based access. On 20 January 2026 the company completed the acquisition of Frontier Communications Parent, Inc., a United States provider of broadband internet and other communication services, which took the fibre broadband footprint to 31 states and Washington D.C. In October 2025 it also entered a commercial fibre arrangement with an affiliate of Tillman Global Holdings to widen its fibre reach.

Spectrum

Licences held can be used for mobile and fixed wireless voice, video and data. The company is licensed by the Federal Communications Commission on low and mid-band spectrum covering nearly all of the United States population: the 700 MHz Upper C block, cellular spectrum at 850 MHz, personal communication services spectrum at 1900 MHz, the AWS 1 and AWS 3 bands, and the 3.7 GHz C-Band. It also holds millimetre wave licences in the 28, Upper 37 and 39 GHz bands and uses both Priority Access Licenses and General Authorized Access in the 3.5 GHz Citizens Broadband Radio Service band.

From Verizon's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Verizon Communications became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 29 October 2026
Revenue
$34.3 billion
+1.5% on the year · +0.2% on the quarter
Q4 FY2024Q3 FY2026
Net income
$5.2 billion
+5.0% on the year · +35.5% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$1.25
+6.8% on the year · +35.9% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 17 February 2026
Revenue
$138.2 billion
+2.5% on the year
FY2018FY2025
Net income
$17.2 billion
-1.9% on the year
FY2018FY2025
Diluted EPS
$4.06
-1.9% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsVerizon Communications (VZ) reported revenue of $138.2 billion for fiscal 2025, the year ended 31 December 2025, up 2.5% on the year before. Net income was $17.2 billion and diluted earnings per share $4.06. Revenue was $134.8 billion in fiscal 2024, $134.0 billion in fiscal 2023, $136.8 billion in fiscal 2022 and $133.6 billion in fiscal 2021. Net income in the same years was $17.5 billion, $11.6 billion, $21.3 billion and $22.1 billion. Over the twelve months to 30 September 2026, Verizon Communications reported revenue of $139.4 billion and net income of $16.4 billion. Revenue grew 1.5% a year, compounded, over the five years to fiscal 2025. Verizon Communications declared $2.81 a share in dividends over the last four quarters and had 4.14 billion shares outstanding at the latest filed count. At 30 September 2026 it carried $166.2 billion of debt and $4.5 billion of cash. At the close of 6 November 2026 the market cap of Verizon Communications was $189.4 billion, 11.7 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE15.3%
ROCE10.6%
Operating margin20.9%
Net margin11.8%
FCF marginn/a
Interest cover3.8x
Debt to equity1.55x
Cash conversion2.38x
Share count, last 12 months-1.7%
Sales CAGR, 3 years0.3%
Profit CAGR, 3 years-6.9%
EPS, TTM$3.92

At the close of 6 November 2026

Price$45.71
Market cap$189.4 billion
Stock P/E11.7x
Price to book1.8x
EV / EBITDA7.2x
Dividend yield6.2%
Market cap / sales1.4x
52-week high$51.45
52-week low$38.91
Price, 1 year14.8%
Price CAGR, 3 years8.3%
Price CAGR, 5 years-2.6%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Verizon Communications Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
VZgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue34,06733,55433,78934,24135,25132,91232,59633,33635,13032,98132,79633,33035,68133,48534,50433,82136,38134,44034,25334,313
Cost of revenue14,99614,35014,42014,60115,76213,50412,76413,43715,18212,87212,47113,24015,51413,05613,88513,34616,47813,67313,08413,088
Gross profit19,07119,20419,36919,64019,48919,40819,83219,89919,94820,10920,32520,09020,16720,42920,61920,47519,90320,76721,16921,225
Gross margin56%57%57%57%55%59%61%60%57%61%62%60%57%61%60%61%55%60%62%62%
SG&A7,4127,1727,4967,4228,0467,5068,2537,9958,9918,1438,0249,7068,2407,8747,8127,75210,3807,6338,9827,480
Operating income7,6087,7967,5527,8947,2257,5847,2207,4736007,5217,8185,9267,4217,9788,1728,1055,0048,2427,1798,650
Operating margin22%23%22%23%20%23%22%22%2%23%24%18%21%24%24%24%14%24%21%25%
Interest expense7397867859371,1051,2071,2851,4331,5991,6351,6981,6721,6441,6321,6391,6641,7591,9401,9851,950
Pre-tax income6,1446,0836,8576,5208,8116,5006,1126,192-1,8176,0756,0344,3026,5686,4736,6096,5273,0636,7845,2746,817
Tax rate23%23%22%23%24%23%22%21%n/a22%22%21%22%23%23%23%20%24%25%22%
Net income4,6134,5805,1994,9006,5774,9094,6484,762-2,7054,6024,5933,3065,0054,8795,0034,9502,3425,0453,8355,198
Net margin14%14%15%14%19%15%14%14%-8%14%14%10%14%15%14%15%6%15%11%15%
Diluted EPS$1.10$1.09$1.24$1.17$1.56$1.17$1.10$1.13-$0.64$1.09$1.09$0.78$1.18$1.15$1.18$1.17$0.55$1.20$0.92$1.25
Operating cash flow8,3776,82110,84410,5348,9428,2899,73110,7788,6777,0849,4859,91110,4327,7828,97511,2669,1147,98410,43511,517
Buybacksn/an/an/an/an/an/an/an/an/an/an/an/an/a0.00.00.0n/a2,5001,000500
Dividends paid2,6482,6542,7242,6882,7392,7442,7432,7442,7942,7962,8022,8012,8502,8562,8562,8572,9122,9102,9542,940
Shares outstanding4,198m4,200m4,200m4,200m4,200m4,204m4,204m4,204m4,204m4,209m4,210m4,210m4,210m4,216m4,216m4,216m4,218m4,176m4,155m4,145m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2007FY2008 †FY2009 †FY2010FY2011FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue93,46997,354107,808106,565110,875115,846120,550127,079131,620125,980126,034130,863131,868128,292133,613136,835133,974134,788138,191139,387
Cost of revenue37,54738,61544,57944,14945,87546,27544,88749,93153,36152,70153,06355,50854,72651,20156,30159,13354,88754,09756,76556,323
Gross profit55,92258,73963,22962,41665,00069,57175,66377,14878,25973,27972,97175,35577,14277,09177,31277,70279,08780,69181,42683,064
Gross margin59.8%60.3%58.6%58.6%58.6%60.1%62.8%60.7%59.5%58.2%57.9%57.6%58.5%60.1%57.9%56.8%59.0%59.9%58.9%59.6%
Selling, general and administrative25,96741,51730,71731,36635,62439,95127,08941,01631,62728,10228,59231,08329,89631,57328,65830,13632,74534,11333,81834,475
Operating income15,5782,61215,97814,64512,88013,16031,96819,59930,61529,24927,41422,27830,37828,79832,44830,46722,87728,68629,25929,075
Operating margin16.7%2.7%14.8%13.7%11.6%11.4%26.5%15.4%23.3%23.2%21.8%17.0%23.0%22.4%24.3%22.3%17.1%21.3%21.2%20.9%
Interest expense1,8291,8193,1022,5232,8272,5712,6674,9154,9204,3764,7334,8334,7304,2473,4853,6135,5246,6496,6947,634
Pre-tax incomen/an/a13,52012,68410,4839,89729,27715,27028,24020,98620,59419,62322,73323,96729,42028,27116,98722,97922,67221,938
Income tax3,982-2,3191,9192,467285-6605,7303,3149,8657,378-9,9563,5842,9455,6196,8026,5234,8925,0305,0645,075
Effective tax raten/an/a14.2%19.4%2.7%-6.7%19.6%21.7%34.9%35.2%-48.3%18.3%13.0%23.4%23.1%23.1%28.8%21.9%22.3%23.1%
Net income5,521-2,1934,8942,5492,40487511,4979,62517,87913,12730,10115,52819,26517,80122,06521,25611,61417,50617,17416,420
Net margin5.9%-2.3%4.5%2.4%2.2%0.8%9.5%7.6%13.6%10.4%23.9%11.9%14.6%13.9%16.5%15.5%8.7%13.0%12.4%11.8%
Diluted EPS$1.90-$0.77$1.72$0.90$0.85$0.31$4.00$2.42$4.37$3.21$7.36$3.76$4.65$4.30$5.32$5.06$2.75$4.14$4.06$3.92
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2011 to FY2025

FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Consumern/an/an/an/an/an/a87,05489,76291,05688,53395,300103,506101,626102,904106,80778.6%
Businessn/an/an/an/an/an/a30,91331,53431,44330,96231,04231,07230,12229,53129,06921.4%
Wireless70,15475,86881,02387,64691,68089,186n/an/an/an/an/an/an/an/an/an/a
Wireline40,68238,94538,62438,42931,15030,510n/an/an/an/an/an/an/an/an/an/a
Not assigned to a part in the filingn/an/an/an/a8,7906,2848,0679,5679,3698,7977,2712,2572,2262,3532,315n/a
Consumer FY2017 to FY2025Business FY2017 to FY2025Wireless FY2011 to FY2016Wireline FY2011 to FY2016
110.8FY2011119.6FY2013122.8FY2015118.0FY2017122.5FY2019126.3FY2021131.7FY2023135.9FY2025

$ billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Not assigned to a part in the filing is the company's own eliminations and corporate items, which take the parts to revenue: shown as filed, with no share and no block in the chart.

Profit by segment FY2011 to FY2025

The operating profit each segment reports. Costs Verizon Communications does not charge to a segment are left out, so the segments can add up to more than the company's own operating profit.

FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Margin
FY2025
Consumern/an/an/an/an/an/a25,76028,01128,96128,85629,95528,84629,01129,48429,62827.7%
Businessn/an/an/an/an/an/a3,4544,1683,7623,7733,4372,6312,0662,0582,5328.7%
Wireless18,52721,76825,99726,76029,97329,853n/an/an/an/an/an/an/an/an/an/a
Wireline9594330-831-826-294n/an/an/an/an/an/an/an/an/an/a
Consumer FY2017 to FY2025Wireless FY2011 to FY2016Business FY2017 to FY2025Wireline FY2011 to FY2016
19.5FY201126.3FY201329.1FY201529.2FY201732.7FY201933.4FY202131.1FY202332.2FY2025

$ billion; the figure over a bar is all the segments together; a year a segment lost money, it hangs below the line. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
Consumer79%92%
Business21%8%

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has an operating profit figure. A margin is a segment's operating profit over its own sales.

Revenue by product or service FY2011 to FY2025, 2 years left out

FY2011FY2012FY2013FY2014FY2016FY2017FY2018FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Service revenues and othern/an/an/an/a108,468107,145108,605109,872110,449109,625109,652111,571112,72181.6%
Wireless equipmentn/an/an/an/a17,51218,88922,25818,42023,16427,21024,32223,21725,47018.4%
Equipment7,4468,0108,096n/an/an/an/an/an/an/an/an/an/an/a
Equipment Revenuen/an/an/a10,957n/an/an/an/an/an/an/an/an/an/a
Global Enterprisen/an/a14,67713,639n/an/an/an/an/an/an/an/an/an/a
Global Enterprise Core8,014n/a6,267n/an/an/an/an/an/an/an/an/an/an/a
Global Enterprise Strategic Services7,607n/a8,4108,316n/an/an/an/an/an/an/an/an/an/a
Global Wholesale6,7956,1775,703n/an/an/an/an/an/an/an/an/an/an/a
Mass Markets16,32516,691n/a18,047n/an/an/an/an/an/an/an/an/an/a
Mass Markets Consumer Retailn/a14,043n/an/an/an/an/an/an/an/an/an/an/an/a
Mass Markets Small Business2,7202,6482,5872,464n/an/an/an/an/an/an/an/an/an/a
Other3,5174,0963,851n/an/an/an/an/an/an/an/an/an/an/a
Other704508456n/an/an/an/an/an/an/an/an/an/an/a
Service Revenuen/an/a68,97372,555n/an/an/an/an/an/an/an/an/an/a
Service Revenue Other Service2,4972,2902,691n/an/an/an/an/an/an/an/an/an/an/a
Service Revenue Retail Service56,60161,383n/an/an/an/an/an/an/an/an/an/an/an/a
Intersegment Revenues-1,330n/a-1,1661,120n/an/an/an/an/an/an/an/an/an/a
Service revenues and other FY2016 to FY2025Wireless equipment FY2016 to FY2025Service Revenue FY2013 to FY2014Mass Markets FY2011 to FY2014Global Enterprise FY2013 to FY2014Global Enterprise Strategic Services FY2011 to FY2014Equipment Revenue FY2014Mass Markets Small Business FY2011 to FY2014Equipment FY2011 to FY2013Global Wholesale FY2011 to FY2013Service Revenue Retail Service FY2011 to FY2012Mass Markets Consumer Retail FY2012Other
112.2FY2011121.7FY2013126.0FY2016130.9FY2018133.6FY2021134.0FY2023138.2FY2025

$ billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Intersegment Revenues is the company's own eliminations and corporate items, which take the parts to revenue: shown as filed, with no share and no block in the chart.

Cash flow

FY2007FY2008 †FY2009 †FY2010FY2011FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow26,83927,45231,39033,36329,78031,48638,81830,63138,93021,68924,31834,33935,74641,76839,53937,14137,47536,91237,13739,050
Capital expenditure17,53817,13316,87216,45816,24416,17516,60417,19117,77517,05917,24716,658n/an/an/an/an/an/an/an/a
Free cash flow9,30110,31914,51816,90513,53615,31122,21413,44021,1554,6307,07117,681n/an/an/an/an/an/an/an/a
Free cash flow margin10.0%10.6%13.5%15.9%12.2%13.2%18.4%10.6%16.1%3.7%5.6%13.5%n/an/an/an/an/an/an/an/a
Cash from investing-16,108-31,474-23,156-15,054-17,250-20,502-14,833-15,856-30,043-9,874-18,456-17,934-17,581-23,512-67,153-28,662-23,432-18,674-16,660-30,451
Cash from financing-12,79712,651-16,007-13,650-5,836-21,25326,450-57,705-15,112-13,376-6,151-15,377-18,1641,3258,277-8,529-14,657-17,100-5,613-11,691
Depreciation and amortisation14,37714,61016,53216,40516,49616,46016,60616,53316,01715,92816,95417,40316,68216,72016,20617,09917,62417,89218,34919,514
Share-based compensationn/a400500500500700400300300400n/an/an/an/an/an/an/an/an/an/a
Buybacks2,8431,3680.0n/an/an/a153n/a5,1340.00.0n/an/an/an/an/an/an/an/an/a
Dividends paid4,7734,9945,2715,4125,5555,2305,9367,8038,5389,2629,4729,77210,01610,23210,44510,80511,02511,24911,48111,716
Dividend per share$1.67$1.78$1.87$1.93$1.98$2.03$2.09$2.16$2.23$2.29$2.33$2.38$2.44$2.48$2.54$2.58$2.63$2.69$2.73n/a
Diluted shares, weighted2,902m2,849m2,841m2,833m2,839m2,862m2,874m3,981m4,093m4,086m4,089m4,132m4,140m4,142m4,150m4,204m4,215m4,223m4,231m4,161m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a4,145m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2007FY2008 †FY2009 †FY2010FY2011FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity82,86978,90584,14386,91285,90885,53395,41613,67617,84224,03244,68754,71062,83569,27283,20092,46393,799100,575105,741107,292
Short-term borrowingsn/an/an/an/an/an/a447n/an/an/an/an/an/an/an/an/an/an/an/an/a
Debtn/a46,95961,15652,79455,15251,98793,144113,271109,729108,078117,095113,063111,489129,062150,868150,639150,674144,014158,150166,233
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/a18,39318,00023,20321,55820,00219,92818,95117,963
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/a7809169251,1671,3381,4551,568n/a
Other liabilitiesn/a76,48881,95280,29989,40187,70285,091105,162117,069112,07095,36197,05698,23099,231108,400113,853114,442118,739119,848124,034
Total liabilities and equityn/a202,352227,251220,005230,461225,222274,098232,109244,640244,180257,143264,829291,727316,481366,596379,680380,255384,711404,258415,522
Owned
Fixed assetsn/a86,54691,98587,71188,43488,64288,95689,94783,54184,75188,56889,28691,91594,83399,696107,434108,310108,522109,467125,134
Goodwilln/a6,03522,47221,98823,35724,13924,63424,63925,33127,20529,17224,61424,38924,77328,60328,67122,84322,84122,84130,729
Intangible assetsn/a5,1996,7645,8305,8785,9335,8005,3597,5928,89710,2479,7759,4989,41311,67711,46111,05711,12910,45812,002
Investmentsn/a5,290490545592470601555350n/an/an/an/an/an/an/an/an/an/an/a
Loansn/an/a2,6642,5151,9101,4771,1871,090894n/an/an/an/an/an/an/an/an/an/an/a
Cash and equivalents1,1539,7822,0096,66813,3623,09353,52810,5984,4702,8802,0792,7452,59422,1712,9212,6052,0654,19419,0484,495
Receivablesn/a11,70312,57311,78111,77612,57612,43913,99313,45717,51323,49325,10225,42923,91723,846n/an/an/an/an/a
Inventoryn/a2,0921,4261,1319401,0751,0201,1531,2521,2021,0341,3361,4221,7963,0552,3882,0572,2472,4412,775
Other assetsn/a75,70586,86881,83684,21287,81785,93384,775107,753101,732102,550111,971136,480139,578196,798227,121233,923235,778240,003240,387
Total assetsn/a202,352227,251220,005230,461225,222274,098232,109244,640244,180257,143264,829291,727316,481366,596379,680380,255384,711404,258415,522
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded0.5%1.5%0.3%1.4%
Profit growth, compounded-0.4%-0.7%-6.9%-17.2%
Return on equity, average30.2%19.1%15.3%16.2%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Verizon Communications' revenue in fiscal 2025?

Verizon Communications (VZ) reported revenue of $138.2 billion for fiscal 2025, the year ended 31 December 2025, up 2.5% on the year before.

How much did Verizon Communications earn in fiscal 2025?

Net income was $17.2 billion for fiscal 2025, and diluted earnings per share $4.06.

What is Verizon Communications' P/E ratio?

At the close of 6 November 2026, Verizon Communications traded at 11.7 times its earnings over the twelve months to 30 September 2026.

What is Verizon Communications' market cap?

The market cap of Verizon Communications was $189.4 billion at the close of 6 November 2026.

Does Verizon Communications pay a dividend?

Yes. Verizon Communications declared $2.81 a share in dividends over the four quarters to 30 September 2026.

Peers: Communication

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Verizon Communications Inc. VZ$189.4 billion11.6615.3%20.9%1.4%1.556.2%
T-Mobile US, Inc. TMUS$172.1 billion15.6320.1%20.7%9.3%1.492.6%
AT&T Inc. T$145.6 billion11.6910.7%18.3%3.5%1.305.1%
Spotify Technology S.A. SPOT *$124.0 billion51.3726.6%12.8%9.7%0.18n/a
Comcast Corp. CMCSA$86.9 billion7.7212.2%14.7%-0.3%0.945.4%
Lumen Technologies, Inc. LUMN$4.1 billionn/an/a1.3%-9.7%n/an/a
Telephone & Data Systems Inc. TDS$3.6 billion8.0411.0%40.1%-41.2%0.140.5%
IDT Corp. IDT$2.0 billion23.7023.0%9.3%5.4%0.000.3%
Anterix Inc. ATEX$1.5 billion21.2023.0%1,011.3%18.9%0.00n/a
Uniti Group Inc. UNIT$1.2 billion1.92666.9%3.2%n/a65.860.0%
Shenandoah Telecommunications Co. SHEN$533 millionn/a-4.5%-3.9%5.5%0.891.1%
ATN International, Inc. ATNI$433 million2.51n/a38.1%1.4%0.884.0%
All 50 in Communication
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Verizon Communications Inc. VZ$189.4 billion11.6615.3%20.9%1.4%1.556.2%
T-Mobile US, Inc. TMUS$172.1 billion15.6320.1%20.7%9.3%1.492.6%
AT&T Inc. T$145.6 billion11.6910.7%18.3%3.5%1.305.1%
Spotify Technology S.A. SPOT *$124.0 billion51.3726.6%12.8%9.7%0.18n/a
Comcast Corp. CMCSA$86.9 billion7.7212.2%14.7%-0.3%0.945.4%
Chunghwa Telecom Co. Ltd. CHT *$38.7 billion32.6110.1%20.6%2.7%0.073.2%
Vodafone Group Public Limited Company VOD *$36.0 billionn/a-0.8%7.0%8.0%1.043.5%
Fox Corp. FOXA$28.5 billion14.1216.3%n/a9.0%0.530.9%
EchoStar Corp. ECHO$27.5 billion3.4658.4%2.3%-19.8%0.57n/a
Fox Corp. FOX$25.5 billion12.6016.3%n/a9.0%0.531.0%
Roku, Inc. ROKU$23.9 billion47.5016.9%7.8%21.1%0.00n/a
Tencent Music Entertainment Group TME *$15.0 billionn/a13.8%40.6%15.8%0.041.8%
Charter Communications, Inc. CHTR$13.8 billion12.2112.7%10.8%1.0%9.75n/a
AST SpaceMobile, Inc. ASTS$12.6 billionn/a-25.8%n/a2,265.6%1.24n/a
Globalstar, Inc. GSAT$10.9 billionn/a-25.7%3.8%5.9%1.27n/a
Sirius XM Holdings Inc. SIRI$10.9 billion13.077.4%19.0%0.5%0.773.3%
Viasat Inc. VSAT$8.9 billionn/a-2.1%1.7%1.8%1.28n/a
Skydance Corp. SKYD$8.6 billionn/a-3.5%4.7%n/a1.29n/a
Nexstar Media Group, Inc. NXST$5.9 billion17.3015.1%20.6%32.3%4.623.9%
Iridium Communications Inc. IRDM$4.7 billion29.1628.3%19.0%3.6%3.711.4%
Versant Media Group, Inc. VSNT$4.6 billionn/a9.0%17.1%n/a0.36n/a
Lumen Technologies, Inc. LUMN$4.1 billionn/an/a1.3%-9.7%n/an/a
Telephone & Data Systems Inc. TDS$3.6 billion8.0411.0%40.1%-41.2%0.140.5%
Liberty Global Ltd. LBTYA$3.3 billionn/a-25.9%-1.7%17.4%2.14n/a
Array Digital Infrastructure, Inc. AD$2.6 billionn/an/an/an/a0.5076.8%
IDT Corp. IDT$2.0 billion23.7023.0%9.3%5.4%0.000.3%
Calix, Inc. CALX$1.9 billion44.976.6%5.3%22.9%0.000.0%
Adeia Inc. ADEA$1.7 billion15.2024.1%38.4%22.1%0.791.3%
Liberty Latin America Ltd. LILA$1.7 billionn/a-38.8%14.2%0.7%18.94n/a
Ziff Davis, Inc. ZD$1.6 billion2.9329.0%0.9%-14.2%0.41n/a
Anterix Inc. ATEX$1.5 billion21.2023.0%1,011.3%18.9%0.00n/a
Uniti Group Inc. UNIT$1.2 billion1.92666.9%3.2%n/a65.860.0%
Liberty Capital Corp. GLIBA$1.1 billion12.864.4%12.1%n/a0.62n/a
Sinclair, Inc. SBGI$990 million9.9823.4%8.6%1.2%9.84n/a
Newsmax Inc. NMAX$947 millionn/a-5.7%-7.4%11.1%0.00n/a
Entravision Communications Corp. EVC$832 million30.0332.3%7.4%87.0%1.502.2%
Shenandoah Telecommunications Co. SHEN$533 millionn/a-4.5%-3.9%5.5%0.891.1%
Gogo Inc. GOGO$528 millionn/a-1.7%10.4%9.2%6.67n/a
Gray Media, Inc. GTN$506 million16.932.8%17.8%0.7%2.656.5%
ATN International, Inc. ATNI$433 million2.51n/a38.1%1.4%0.884.0%
Spire Global, Inc. SPIR$351 millionn/a-64.8%-146.7%-33.1%0.00n/a
AMC Global Media Inc. AMCX$346 millionn/a-2.2%2.3%-4.6%1.82n/a
E.W. Scripps Co. SSP$282 millionn/a-802.0%-48.4%-8.9%17.23n/a
Spok Holdings, Inc. SPOK$246 million13.2013.0%12.9%-3.3%0.0010.6%
Cogent Communications Holdings, Inc. CCOI$203 millionn/an/a9.2%-4.2%n/a77.0%
TechTarget, Inc. TTGT$191 millionn/a-24.4%-27.6%8.0%0.24n/a
Optimum Communications, Inc. OPTU$123 millionn/an/a-58.7%-4.3%n/a0.0%
KVH Industries Inc. KVHI$117 million215.170.4%-1.8%25.7%0.00n/a
Townsquare Media, Inc. TSQ$31 millionn/an/a0.5%-2.1%n/a43.2%
iHeartMedia, Inc. IHRT$9 millionn/an/a0.2%3.1%n/an/a
8 companies share its SEC industry code (Telephone Communications (No Radiotelephone)); the rest are the names nearest in size in its wider industry, Communication, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on VZ

Dividends$2.8125 a share over the four quarters to 30 September 2026, a 6.15% yield
Filings38 in twelve months: 22 current reports (8-K), about 7 officer or director change; 7 other events; 4 results of operations; 4 regulation FD disclosure; 1 shareholder vote
Planned insider sales16 Form 144 notices in twelve months, $16.2 million; latest 3 November 2026
Options tapeput/call 0.78 by open interest at the 6 November 2026 close; the straddle prices a 3.0% move to 13 November 2026
13F holders3,173 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading18 sales and 0 purchases on Form 4 in twelve months
Congress3 House trades disclosed in six months
Short interest83.3 million shares short, 2.75 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 202629 October 2026EDGAR
10-Q30 June 202631 July 2026EDGAR
10-Q31 March 20261 May 2026EDGAR
10-K31 December 202517 February 2026EDGAR
10-Q30 September 202529 October 2025EDGAR
10-Q30 June 202525 July 2025EDGAR
10-Q31 March 202525 April 2025EDGAR
10-K31 December 202412 February 2025EDGAR
10-Q30 September 202425 October 2024EDGAR
10-Q30 June 202425 July 2024EDGAR

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