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VZ logoVerizon Communications Inc.(VZ)Earnings, Financials & Key Ratios

VZ•NYSE•Utilities
$47.34
$199.66B mkt cap·11.7× P/E·Price updated May 6, 2026
SectorCommunication ServicesIndustryTelecom ServicesSub-IndustryIntegrated Telecom and Media Groups
AboutVerizon Communications Inc., through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches. It also provides residential fixed connectivity solutions, such as internet, video, and voice services; and sells network access to mobile virtual network operators. As of December 31, 2021, it had approximately 115 million wireless retail connections, 7 million wireline broadband connections, and 4 million Fios video connections. The company's Business segment provides network connectivity products, including private networking, private cloud connectivity, virtual and software defined networking, and internet access services; and internet protocol-based voice and video services, unified communications and collaboration tools, and customer contact center solutions. This segment also offers a suite of management and data security services; domestic and global voice and data solutions, such as voice calling, messaging services, conferencing, contact center solutions, and private line and data access networks; customer premises equipment; installation, maintenance, and site services; and Internet of Things products and services. As of December 31, 2021, it had approximately 27 million wireless retail postpaid connections and 477 thousand wireline broadband connections. The company was formerly known as Bell Atlantic Corporation and changed its name to Verizon Communications Inc. in June 2000. Verizon Communications Inc. was incorporated in 1983 and is headquartered in New York, New York.Show more
  • Revenue$138.19B+2.5%
  • EBITDA$47.61B-1.8%
  • Net Income$17.17B-1.9%
  • Free Cash Flow$20.13B+6.4%
  • EBITDA Margin34.45%-4.2%
  • Net Margin12.43%-4.3%
  • ROE16.65%-7.6%
  • Interest Coverage4.39-1.5%
  • Debt/Equity1.90+13.3%
  • Net Debt/EBITDA3.81+12.7%
  • CapEx / Revenue12.64%-5.3%
  • CapEx Coverage2.13+3.7%
Analysis→Technical→

VZ Key Insights

Verizon Communications Inc. (VZ) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓11 years of consecutive dividend growth
  • ✓11 consecutive years of dividend growth
  • ✓Strong interest coverage of 4.4x
  • ✓Good 3Y average ROE of 15.7%
  • ✓Healthy dividend yield of 5.7%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

VZ Price & Volume

Verizon Communications Inc. (VZ) stock price & volume — 10-year historical chart

Loading chart...

VZ Growth Metrics

Verizon Communications Inc. (VZ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years0.49%
5 Years1.5%
3 Years0.33%
TTM2.52%

Profit CAGR

10 Years-0.4%
5 Years-0.71%
3 Years-6.86%
TTM-1.9%

EPS CAGR

10 Years-0.73%
5 Years-1.14%
3 Years-7.08%
TTM-2.17%

Return on Capital

10 Years10.94%
5 Years9.44%
3 Years9.03%
Last Year8.84%

VZ Recent Earnings

Verizon Communications Inc. (VZ) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
Apr 27, 2026
EPS
$1.28
Est $1.21
+5.8%
Revenue
$34.4B
Est $34.8B
-1.2%
Q1 2026
Jan 30, 2026
EPS
$1.09
Est $1.05
+3.8%
Revenue
$36.4B
Est $36.1B
+0.9%
Q4 2025
Oct 29, 2025
EPS
$1.21
Est $1.19
+1.7%
Revenue
$33.8B
Est $34.3B
-1.3%
Q3 2025
Jul 21, 2025
EPS
$1.22
Est $1.19
+2.5%
Revenue
$34.5B
Est $33.7B
+2.3%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 27, 2026
$1.28vs $1.21+5.8%
$34.4Bvs $34.8B-1.2%
Q1 2026Jan 30, 2026
$1.09vs $1.05+3.8%
$36.4Bvs $36.1B+0.9%
Q4 2025Oct 29, 2025
$1.21vs $1.19+1.7%
$33.8Bvs $34.3B-1.3%
Q3 2025Jul 21, 2025
$1.22vs $1.19+2.5%
$34.5Bvs $33.7B+2.3%
Based on last 12 quarters of dataView full earnings history →

VZ Peer Comparison

Verizon Communications Inc. (VZ) competitors in Integrated Telecom and Media Groups — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
T logoTAT&T Inc.Direct Competitor181.06B25.938.532.71%16.92%16.85%10.74%1.35
TMUS logoTMUST-Mobile US, Inc.Direct Competitor210.32B194.3519.998.49%11.65%17.82%4.92%2.07
LUMN logoLUMNLumen Technologies, Inc.Product Competitor9.51B9.23-5.27-5.39%-14.34%-79.42%3.9%
FYBR logoFYBRFrontier Communications Parent, Inc.Product Competitor9.64B38.49-29.613.23%-6.24%-8.11%2.44
SHEN logoSHENShenandoah Telecommunications CompanyProduct Competitor887.59M16.05-22.619.08%-13.67%-3.7%0.66
TDS logoTDSTelephone and Data Systems, Inc.Product Competitor4.82B45.38-68.76-75.26%-0.21%-0.11%56.67%0.37
CSCO logoCSCOCisco Systems, Inc.Supply Chain373.43B94.3036.985.3%18.76%23.21%3.56%0.63
ERIC logoERICTelefonaktiebolaget LM Ericsson (publ)Supply Chain36.64B11.9313.73-14.22%12.07%29.04%8.45%0.42

Compare VZ vs Peers

Verizon Communications Inc. (VZ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs T

Most directly comparable listed peer for VZ.

Scale Benchmark

vs AAPL

Larger-name benchmark to compare VZ against a more recognizable public peer.

Peer Set

Compare Top 5

vs T, TMUS, LUMN, FYBR

VZ Income Statement

Verizon Communications Inc. (VZ) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue126.03B130.86B131.87B128.29B133.61B136.84B133.97B134.79B138.19B
Revenue Growth %0.04%3.83%0.77%-2.71%4.15%2.41%-2.09%0.61%2.52%
Cost of Revenue68.51B72.61B71.41B67.92B72.51B76.23B72.51B71.99B75.11B
Gross Profit
57.52B▲ 0%
58.26B▲ 1.3%
60.46B▲ 3.8%
60.37B▼ 0.1%
61.11B▲ 1.2%
60.6B▼ 0.8%
61.46B▲ 1.4%
62.8B▲ 2.2%
63.08B▲ 0.4%
Gross Margin %45.64%44.52%45.85%47.06%45.73%44.29%45.88%46.59%45.64%
Gross Profit Growth %-1.88%1.27%3.79%-0.15%1.22%-0.82%1.42%2.17%0.44%
Operating Expenses31B28.25B29.43B30.5B29.14B30.14B32.63B32.2B33.82B
Other Operating Expenses---------
EBITDA43.47B47.41B47.71B46.59B48.17B47.57B46.45B48.5B47.61B
EBITDA Margin %34.49%36.23%36.18%36.31%36.05%34.76%34.67%35.98%34.45%
EBITDA Growth %3.91%9.06%0.63%-2.36%3.4%-1.26%-2.34%4.39%-1.83%
Depreciation & Amortization16.95B17.4B16.68B16.72B16.21B17.1B17.62B17.89B18.35B
D&A / Revenue %13.45%13.3%12.65%13.03%12.13%12.5%13.15%13.27%13.28%
Operating Income (EBIT)
26.52B▲ 0%
30.01B▲ 13.2%
31.03B▲ 3.4%
29.87B▼ 3.7%
31.96B▲ 7.0%
30.47B▼ 4.7%
28.83B▼ 5.4%
30.6B▲ 6.1%
29.26B▼ 4.4%
Operating Margin %21.04%22.93%23.53%23.28%23.92%22.27%21.52%22.71%21.17%
Operating Income Growth %2.35%13.15%3.41%-3.74%7.02%-4.69%-5.37%6.15%-4.39%
Interest Expense4.73B4.83B4.73B4.27B3.5B3.58B5.53B6.65B6.69B
Interest Coverage5.35x5.06x5.81x6.61x9.41x8.89x4.07x4.45x4.39x
Interest / Revenue %3.76%3.69%3.59%3.33%2.62%2.62%4.12%4.94%4.84%
Non-Operating Income-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K-1000K
Pretax Income
20.59B▲ 0%
19.62B▼ 4.7%
22.73B▲ 15.8%
23.97B▲ 5.4%
29.42B▲ 22.8%
28.27B▼ 3.9%
16.99B▼ 39.9%
22.98B▲ 35.3%
22.67B▼ 1.3%
Pretax Margin %16.34%15%17.24%18.68%22.02%20.66%12.68%17.05%16.41%
Income Tax-9.96B3.58B2.94B5.62B6.8B6.52B4.89B5.03B5.06B
Effective Tax Rate %-48.34%18.26%12.95%23.44%23.12%23.07%28.8%21.89%22.34%
Net Income
30.1B▲ 0%
15.53B▼ 48.4%
19.27B▲ 24.1%
17.8B▼ 7.6%
22.07B▲ 24.0%
21.26B▼ 3.7%
11.61B▼ 45.4%
17.51B▲ 50.7%
17.17B▼ 1.9%
Net Margin %23.88%11.87%14.61%13.88%16.51%15.53%8.67%12.99%12.43%
Net Income Growth %129.31%-48.41%24.07%-7.6%23.95%-3.67%-45.36%50.73%-1.9%
EPS (Diluted)
7.36▲ 0%
3.76▼ 48.9%
4.65▲ 23.7%
4.30▼ 7.5%
5.32▲ 23.7%
5.06▼ 4.9%
2.75▼ 45.7%
4.15▲ 50.9%
4.06▼ 2.2%
EPS Growth %129.28%-48.91%23.67%-7.53%23.72%-4.89%-45.65%50.91%-2.17%
EPS (Basic)7.373.764.664.305.325.062.764.154.06
Diluted Shares Outstanding4.09B4.13B4.14B4.14B4.15B4.2B4.21B4.22B4.23B

VZ Balance Sheet

Verizon Communications Inc. (VZ) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets257.14B264.83B291.73B316.48B366.6B379.68B380.25B384.71B404.26B
Asset Growth %5.31%2.99%10.16%8.49%15.84%3.57%0.15%1.17%5.08%
PP&E (Net)88.57B89.29B114.61B117.36B127.58B133.56B133.04B132.99B132.97B
PP&E / Total Assets %34.44%33.71%39.29%37.08%34.8%35.18%34.99%34.57%32.89%
Total Current Assets29.91B34.64B37.47B54.59B36.73B37.86B36.81B40.52B56.92B
Cash & Equivalents2.08B2.75B2.59B22.17B2.92B2.6B2.06B4.19B19.05B
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K
Inventory1.03B1.34B1.42B1.8B3.06B2.39B2.06B2.25B2.44B
Other Current Assets03.13B3.8B3.67B5.79B5.91B5.65B5.04B7.09B
Long-Term Investments1.04B671M558M589M1.06B1.07B953M842M785M
Goodwill29.17B24.61B24.39B24.77B28.6B28.67B22.84B22.84B22.84B
Intangible Assets98.66B103.91B104.56B108.28B159.3B161.26B166.72B167.74B10.46B
Other Assets9.79B11.72B10.14B10.88B13.33B17.26B19.89B19.77B180.29B
Total Liabilities212.46B210.12B228.89B247.21B283.4B287.22B286.46B284.14B298.52B
Total Debt117.09B113.06B133.14B150.55B177.93B176.33B174.94B168.36B200.59B
Net Debt115.02B110.32B130.55B128.38B175.01B173.73B172.88B164.16B181.55B
Long-Term Debt113.64B105.87B100.71B123.17B143.43B140.68B137.7B121.38B158.48B
Short-Term Borrowings3.45B7.19B10.78B5.89B7.44B9.96B12.97B22.63B23.16B
Capital Lease Obligations0021.65B21.48B27.06B25.69B24.27B24.34B18.95B
Total Current Liabilities33.04B37.93B44.87B39.66B47.16B50.17B53.22B64.77B62.37B
Accounts Payable7.06B7.23B7.72B6.67B8.04B8.75B10.02B10.43B24.98B
Accrued Expenses12.69B13.79B12.31B12.56B15.17B13.35B10.82B11.05B0
Deferred Revenue4.05B4.21B4.65B4.84B6.05B6.58B6.96B7.49B0
Other Current Liabilities1.87B1.52B1.81B2.17B2.26B2.75B2.75B3.98B14.23B
Deferred Taxes1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Liabilities34.55B32.52B30.22B30.66B28.92B31.37B29.75B31.32B10B
Total Equity
44.69B▲ 0%
54.71B▲ 22.4%
62.84B▲ 14.9%
69.27B▲ 10.2%
83.2B▲ 20.1%
92.46B▲ 11.1%
93.8B▲ 1.4%
100.58B▲ 7.2%
105.74B▲ 5.1%
Equity Growth %85.95%22.43%14.85%10.24%20.11%11.13%1.44%7.22%5.14%
Shareholders Equity43.1B53.15B61.4B67.84B81.79B91.14B92.43B99.24B104.46B
Minority Interest1.59B1.56B1.44B1.43B1.41B1.32B1.37B1.34B1.28B
Common Stock424M429M429M429M429M429M429M429M429M
Additional Paid-in Capital11.1B13.44B13.42B13.4B13.86B13.42B13.63B13.47B13.37B
Retained Earnings35.63B43.54B53.15B60.46B71.99B82.38B82.92B89.11B94.74B
Accumulated OCI2.66B2.37B998M-71M-927M-1.86B-1.38B-923M-1.73B
Return on Assets (ROA)12.01%5.95%6.92%5.85%6.46%5.7%3.06%4.58%4.35%
Return on Equity (ROE)87.61%31.24%32.78%26.95%28.94%24.2%12.47%18.01%16.65%
Debt / Equity2.62x2.07x2.12x2.17x2.14x1.91x1.87x1.67x1.90x
Debt / Assets45.54%42.69%45.64%47.57%48.54%46.44%46.01%43.76%49.62%
Net Debt / EBITDA2.65x2.33x2.74x2.76x3.63x3.65x3.72x3.39x3.81x
Book Value per Share10.9313.2415.1816.7220.0521.9922.2523.8424.99

VZ Cash Flow Statement

Verizon Communications Inc. (VZ) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations24.32B34.34B35.75B41.77B39.54B37.14B37.48B36.91B37.14B
Operating CF Growth %12.12%41.21%4.1%16.85%-5.34%-6.06%0.9%-1.5%0.61%
Operating CF / Revenue %19.29%26.24%27.11%32.56%29.59%27.14%27.97%27.39%26.87%
Net Income30.55B16.04B19.79B18.35B22.62B21.75B12.1B17.95B17.17B
Depreciation & Amortization16.95B17.4B16.68B16.72B16.21B17.1B17.62B17.89B18.35B
Deferred Taxes-14.46B389M1.23B1.55B4.26B2.97B2.39B815M2.34B
Other Non-Cash Items-2.73B1.69B4.76B5.09B-2.66B-4.83B5.63B2.53B1.59B
Working Capital Changes-5.94B-1.18B-6.71B56M-890M-456M-267M-2.28B-2.32B
Capital Expenditures-17.83B-18.09B-18.84B-20.32B-67.15B-26.74B-18.77B-17.99B-17.01B
CapEx / Revenue %14.15%13.82%14.28%15.84%50.26%19.54%18.33%13.35%12.64%
CapEx / D&A1.05x1.04x1.13x1.22x4.14x1.56x1.39x1.01x0.95x
CapEx Coverage (OCF/CapEx)1.36x1.90x1.90x2.06x0.59x1.39x1.53x2.05x2.13x
Cash from Investing-18.46B-17.93B-17.58B-23.51B-67.15B-28.66B-23.43B-18.67B-16.66B
Acquisitions-2.31B-230M-1M-520M57M281M-30M00
Purchase of Investments0000-21M-2.27B000
Sale of Investments000021M0000
Other Investing1.64B383M1.26B-2.67B-46.92B62M1.16B-684M801M
Cash from Financing-6.15B-15.38B-18.16B1.32B8.28B-8.53B-14.66B-17.1B-5.61B
Dividends Paid-9.47B-9.77B-10.02B-10.23B-10.45B-10.8B-11.03B-11.25B-11.48B
Dividend Payout Ratio %31.47%62.93%51.99%57.48%47.34%50.83%94.93%64.26%66.85%
Debt Issuance (Net)1000K-1000K-1000K1000K1000K1000K-1000K-1000K1000K
Stock Issued000000000
Share Repurchases000000000
Other Financing-4.44B-1.82B-2.92B-2.71B-3.83B-2.07B-1.47B-1.07B-1.95B
Net Change in Cash
-289M▲ 0%
1.03B▲ 455.7%
1M▼ 99.9%
19.58B▲ 1958000.0%
-19.34B▼ 198.8%
-50M▲ 99.7%
-614M▼ 1128.0%
1.14B▲ 285.3%
14.54B▲ 1177.2%
Exchange Rate Effect00000000-329M
Cash at Beginning3.18B2.89B3.92B3.92B23.5B4.16B4.11B3.5B4.51B
Cash at End2.89B3.92B3.92B23.5B4.16B4.11B3.5B4.63B19.05B
Free Cash Flow
6.49B▲ 0%
16.25B▲ 150.5%
16.91B▲ 4.0%
21.45B▲ 26.9%
-27.61B▼ 228.7%
10.4B▲ 137.7%
18.71B▲ 79.9%
18.92B▲ 1.1%
20.13B▲ 6.4%
FCF Growth %58.4%150.49%4.04%26.86%-228.74%137.67%79.87%1.14%6.36%
FCF Margin %5.15%12.42%12.82%16.72%-20.67%7.6%13.96%14.04%14.56%
FCF / Net Income %21.55%104.66%87.77%120.5%-125.15%48.93%161.08%108.09%117.19%

VZ Key Ratios

Verizon Communications Inc. (VZ) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)62.7%87.61%31.24%32.78%26.95%28.94%24.2%12.47%18.01%16.65%
EBITDA Margin33.21%34.49%36.23%36.18%36.31%36.05%34.76%34.67%35.98%34.45%
Net Debt / EBITDA2.51x2.65x2.33x2.74x2.76x3.63x3.65x3.72x3.39x3.81x
Interest Coverage5.80x5.35x5.06x5.81x6.61x9.41x8.89x4.07x4.45x4.39x
CapEx / Revenue13.96%14.15%13.82%14.28%15.84%50.26%19.54%18.33%13.35%12.64%
Dividend Payout Ratio70.56%31.47%62.93%51.99%57.48%47.34%50.83%94.93%64.26%66.85%
Debt / Equity4.50x2.62x2.07x2.12x2.17x2.14x1.91x1.87x1.67x1.90x
EPS Growth-26.54%129.28%-48.91%23.67%-7.53%23.72%-4.89%-45.65%50.91%-2.17%

VZ SEC Filings & Documents

Verizon Communications Inc. (VZ) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 27, 2026·SEC

Material company update

Mar 13, 2026·SEC

Material company update

Feb 23, 2026·SEC

10-K Annual Reports

1
FY 2026

Feb 17, 2026·SEC

10-Q Quarterly Reports

1
FY 2025

Oct 29, 2025·SEC

VZ Frequently Asked Questions

Verizon Communications Inc. (VZ) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Verizon Communications Inc. (VZ) reported $138.19B in revenue for fiscal year 2025. This represents a 374% increase from $29.16B in 1996.

Verizon Communications Inc. (VZ) grew revenue by 2.5% over the past year. Growth has been modest.

Yes, Verizon Communications Inc. (VZ) is profitable, generating $17.17B in net income for fiscal year 2025 (12.4% net margin).

Dividend & Returns

Yes, Verizon Communications Inc. (VZ) pays a dividend with a yield of 5.73%. This makes it attractive for income-focused investors.

Verizon Communications Inc. (VZ) has a return on equity (ROE) of 16.6%. This is reasonable for most industries.

Verizon Communications Inc. (VZ) generated $19.79B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

Verizon Communications Inc. (VZ) has a dividend payout ratio of 67%. This suggests the dividend is well-covered and sustainable.

Explore More VZ

Verizon Communications Inc. (VZ) financial analysis — history, returns, DCA and operating performance tools

Full VZ Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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