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Verizon Communications VZ · USD
Communication Services · Diversified Telecommunication Services · US listing · 🇺🇸 United States
S&P 500Dow Jones
46.06
+0.81%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$138.19bn
FY2016FY2025
Net income
$17.17bn
FY2016FY2025
Free cash flow
$19.68bn
FY2016FY2025
Shareholders' equity
$104.46bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $138.19bn | $134.79bn | $133.97bn | $136.84bn | $133.61bn | $128.29bn | $131.87bn | $130.86bn | $126.03bn | $125.98bn |
| Gross profit | $81.43bn | $80.88bn | $79.17bn | $77.70bn | $77.31bn | $77.09bn | $77.14bn | $75.66bn | $73.14bn | $73.28bn |
| Operating income | $30.02bn | $31.72bn | $31.05bn | $30.77bn | $32.17bn | $30.34bn | $30.51bn | $30.03bn | $27.44bn | $28.52bn |
| Net income | $17.17bn | $17.51bn | $11.61bn | $21.26bn | $22.07bn | $17.80bn | $19.27bn | $15.53bn | $30.10bn | $13.13bn |
| Diluted earnings per share | 4.06 | 4.15 | 2.76 | 5.06 | 5.32 | 4.30 | 4.65 | 3.76 | 7.36 | 3.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $404.26bn | $384.71bn | $380.25bn | $379.68bn | $366.60bn | $316.48bn | $291.73bn | $264.83bn | $257.14bn | $244.18bn |
| Cash and short-term investments | $19.05bn | $4.19bn | $2.06bn | $2.60bn | $2.92bn | $22.17bn | $2.59bn | $2.75bn | $2.08bn | $2.88bn |
| Total liabilities | $299.80bn | $285.47bn | $287.82bn | $288.54bn | $284.81bn | $248.64bn | $230.33bn | $211.68bn | $214.05bn | $221.66bn |
| Debt | $158.15bn | $144.01bn | $150.67bn | $150.64bn | $150.87bn | $129.06bn | $111.49bn | $113.06bn | $117.09bn | $108.08bn |
| Shareholders' equity | $104.46bn | $99.24bn | $92.43bn | $91.14bn | $81.79bn | $67.84bn | $61.40bn | $53.15bn | $43.10bn | $22.52bn |
| Shares outstanding | 4,231m | 4,223m | 4,215m | 4,204m | 4,150m | 4,142m | 4,140m | 4,132m | 4,089m | 4,086m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $37.14bn | $36.91bn | $37.48bn | $37.14bn | $39.54bn | $41.77bn | $35.75bn | $34.34bn | $24.32bn | $21.69bn |
| Capital spending | −$17.46bn | −$17.99bn | −$24.56bn | −$26.74bn | −$67.88bn | −$20.32bn | −$18.84bn | −$18.09bn | −$17.83bn | −$17.59bn |
| Free cash flow | $19.68bn | $18.92bn | $12.91bn | $10.40bn | −$28.34bn | $21.45bn | $16.91bn | $16.25bn | $6.49bn | $4.10bn |
| Dividends paid | −$11.48bn | −$11.25bn | −$11.03bn | −$10.80bn | −$10.45bn | −$10.23bn | −$10.02bn | −$9.77bn | −$9.47bn | −$9.26bn |
Latest quarters
By quarter end
| Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $36.38bn | $33.82bn | $34.50bn | $33.48bn | $35.68bn | $33.33bn | $32.80bn | $32.98bn |
| Gross profit | $19.90bn | $20.48bn | $20.62bn | $20.43bn | $20.17bn | $20.28bn | $20.32bn | $20.11bn |
| Operating income | $5.19bn | $8.35bn | $8.36bn | $8.17bn | $7.61bn | $8.22bn | $8.04bn | $7.85bn |
| Net income | $2.34bn | $4.95bn | $5.00bn | $4.88bn | $5.00bn | $3.31bn | $4.59bn | $4.60bn |
| Diluted earnings per share | 0.55 | 1.17 | 1.18 | 1.15 | 1.18 | 0.78 | 1.09 | 1.09 |
| Total assets | $404.26bn | $388.33bn | $383.29bn | $380.36bn | $384.71bn | $381.16bn | $379.15bn | $380.16bn |
| Cash and short-term investments | $19.05bn | $7.71bn | $3.44bn | $2.26bn | $4.19bn | $4.99bn | $2.43bn | $2.37bn |
| Debt | $139.53bn | $126.63bn | $123.93bn | $121.02bn | $121.38bn | $128.88bn | $126.02bn | $136.10bn |
| Shareholders' equity | $104.46bn | $105.04bn | $103.06bn | $100.72bn | $99.24bn | $96.33bn | $96.17bn | $94.33bn |
Financial ratios
Data as of 5 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 45.6% | 46.6% | 45.9% | 44.3% | 45.7% | 47.1% |
| Operating margin | 21.2% | 22.7% | 21.5% | 22.3% | 23.9% | 23.3% |
| Net margin | 12.4% | 13.0% | 8.7% | 15.5% | 16.5% | 13.9% |
| Return on equity | 16.4% | 17.6% | 12.6% | 23.3% | 27.0% | 26.2% |
| Return on assets | 4.2% | 4.6% | 3.1% | 5.6% | 6.0% | 5.6% |
| Free cash flow yield | 25.5% | 25.9% | 26.6% | 30.3% | 28.6% | 29.9% |
| Revenue growth | 2.5% | 0.6% | -2.1% | 2.4% | 4.1% | -2.7% |
| Earnings growth | -1.9% | 50.7% | -45.4% | -3.7% | 24.0% | -7.6% |
| Current ratio | 0.91x | 0.63x | 0.69x | 0.75x | 0.78x | 1.38x |
| Debt to equity | 1.56x | 1.50x | 1.68x | 1.70x | 1.89x | 1.95x |
| Equity ratio | 25.8% | 25.8% | 24.3% | 24.0% | 22.3% | 21.4% |
| Interest coverage | 4.37x | 4.60x | 5.22x | 8.51x | 9.14x | 6.99x |
| Buybacks as a share of market value | -0.2% | -0.2% | -0.2% | -0.9% | -0.6% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.3% | 1.5% | 0.5% |
| Operating income | -0.8% | -0.2% | -0.2% |
| Net income | -6.9% | -0.7% | -0.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 59.5% | 58.7% | 58.8% | 58.7% |
| Operating margin | 22.6% | 22.7% | 23.1% | 22.9% |
| Net margin | 12.7% | 12.4% | 13.3% | 14.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.0 | 9.7 | 13.7 | 7.8 | 9.8 | 13.7 | 13.2 | 15.0 | 7.2 | 16.6 |
| Price to sales | 1.3 | 1.3 | 1.2 | 1.2 | 1.6 | 1.9 | 1.9 | 1.8 | 1.7 | 1.7 |
Market value over time
31 Oct 2016 to 4 Sept 2026, in USD
$196.54bn$209.13bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 0% | 7% | 1% | -30% | -11% | -4% | 13% | 4% | -1% | 16% |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 9 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.123 | 2.735 | 2.685 | 2.635 | 2.585 | 2.535 | 2.485 | 2.435 |
- 2-for-1 split · 30 Jun 1998
- 2-for-1 split · 2 May 1990
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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