Verizon Communications Inc. (VZ) 10-Year Financial Performance & Capital Metrics

VZ • • Utilities

Communication ServicesTelecom ServicesIntegrated 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 Margin 34.45% -4.2%
Net Margin 12.43% -4.3%
ROE 16.65% -7.6%
Interest Coverage 4.37 -5.0%
Debt/Equity 1.90 +13.3%
Net Debt/EBITDA 3.81 +12.7%
CapEx / Revenue 12.64% -5.3%
CapEx Coverage 2.13 +3.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓10 years of consecutive dividend growth
✓10 consecutive years of dividend growth
✓Strong interest coverage of 4.4x
✓Good 3Y average ROE of 18.2%
✓Healthy dividend yield of 5.4%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y0.49%

5Y1.5%

3Y0.33%

TTM2.39%

Profit (Net Income) CAGR

10Y-0.4%

5Y-0.71%

3Y-6.86%

TTM-3.03%

EPS CAGR

10Y-0.73%

5Y-1.14%

3Y-7.08%

TTM4.52%

ROCE

10Y Avg10.94%

5Y Avg9.44%

3Y Avg9.03%

Latest8.84%

Peer Comparison

Integrated Telecom and Media Groups

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCEBCE Inc.	24.53B	26.31	200.04	-1.07%	25.87%	27.83%	7.62%	2.21
TIGOMillicom International Cellular S.A.	12.18B	72.89	49.59	2.53%	19.59%	33.11%	9.27%	1.89
KTKT Corporation	11.48B	23.81	36.06	0.55%	3.54%	5.16%	13.01%	0.64
CHTChunghwa Telecom Co., Ltd.	33.54B	43.24	27.21	3.3%	16.43%	9.93%
TUTELUS Corporation	21.45B	13.74	26.12	1.82%	5.43%	6.71%	8.01%	1.90
VIVTelefônica Brasil S.A.	27.02B	16.91	25.83	7.19%	10.36%	8.98%	7.57%	0.30
AMXAmérica Móvil, S.A.B. de C.V.	78.37B	26.02	17.38	1.82%	8.78%	19.26%	8.94%	2.14
TLKPerusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk	21.07B	21.27	15.03	0.5%	14.76%	14.04%	8.98%	0.47

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue+	125.98B	126.03B	130.86B	131.87B	128.29B	133.61B	136.84B	133.97B	134.79B	138.19B
Revenue Growth %	-4.29%	0.04%	3.83%	0.77%	-2.71%	4.15%	2.41%	-2.09%	0.61%	2.52%
Cost of Revenue	67.35B	68.51B	72.61B	71.41B	67.92B	72.51B	76.23B	72.51B	71.99B	75.11B
Gross Profit+	58.63B	57.52B	58.26B	60.46B	60.37B	61.11B	60.6B	61.46B	62.8B	63.08B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-7.01%	-1.88%	1.27%	3.79%	-0.15%	1.22%	-0.82%	1.42%	2.17%	0.44%
Operating Expenses+	32.72B	31B	28.25B	29.43B	30.5B	29.14B	30.14B	32.63B	32.2B	33.82B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	41.84B	43.47B	47.41B	47.71B	46.59B	48.17B	47.57B	46.45B	48.5B	47.61B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	-14.31%	3.91%	9.06%	0.63%	-2.36%	3.4%	-1.26%	-2.34%	4.39%	-1.83%
Depreciation & Amortization+	15.93B	16.95B	17.4B	16.68B	16.72B	16.21B	17.1B	17.62B	17.89B	18.35B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	25.91B	26.52B	30.01B	31.03B	29.87B	31.96B	30.47B	28.83B	30.6B	29.26B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-21.02%	2.35%	13.15%	3.41%	-3.74%	7.02%	-4.69%	-5.37%	6.15%	-4.39%
Interest Expense+	4.38B	4.73B	4.83B	4.73B	4.27B	3.5B	3.58B	5.53B	6.65B	6.69B
Interest Coverage	5.92x	5.60x	6.21x	6.56x	6.99x	9.14x	8.51x	5.22x	4.60x	4.37x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	20.99B	20.59B	19.62B	22.73B	23.97B	29.42B	28.27B	16.99B	22.98B	22.67B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	7.38B	-9.96B	3.58B	2.94B	5.62B	6.8B	6.52B	4.89B	5.03B	5.06B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	13.13B	30.1B	15.53B	19.27B	17.8B	22.07B	21.26B	11.61B	17.51B	17.17B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-26.58%	129.31%	-48.41%	24.07%	-7.6%	23.95%	-3.67%	-45.36%	50.73%	-1.9%
EPS (Diluted)+	3.21	7.36	3.76	4.65	4.30	5.32	5.06	2.75	4.15	4.06
EPS Growth %	-26.54%	129.28%	-48.91%	23.67%	-7.53%	23.72%	-4.89%	-45.65%	50.91%	-2.17%
EPS (Basic)	3.22	7.37	3.76	4.66	4.30	5.32	5.06	2.76	4.15	4.06
Diluted Shares Outstanding	4.09B	4.09B	4.13B	4.14B	4.14B	4.15B	4.2B	4.21B	4.22B	4.23B

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	244.18B	257.14B	264.83B	291.73B	316.48B	366.6B	379.68B	380.25B	384.71B	404.26B
Asset Growth %	0%	5.31%	2.99%	10.16%	8.49%	15.84%	3.57%	0.15%	1.17%	5.08%
PP&E (Net)+	84.75B	88.57B	89.29B	114.61B	117.36B	127.58B	133.56B	133.04B	132.99B	132.97B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	26.39B	29.91B	34.64B	37.47B	54.59B	36.73B	37.86B	36.81B	40.52B	56.92B
Cash & Equivalents	2.88B	2.08B	2.75B	2.59B	22.17B	2.92B	2.6B	2.06B	4.19B	19.05B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	1.2B	1.03B	1.34B	1.42B	1.8B	3.06B	2.39B	2.06B	2.25B	2.44B
Other Current Assets	882M	0	3.13B	3.8B	3.67B	5.79B	5.91B	5.65B	5.04B	7.09B
Long-Term Investments	1.11B	1.04B	671M	558M	589M	1.06B	1.07B	953M	842M	785M
Goodwill	27.2B	29.17B	24.61B	24.39B	24.77B	28.6B	28.67B	22.84B	22.84B	22.84B
Intangible Assets	95.57B	98.66B	103.91B	104.56B	108.28B	159.3B	161.26B	166.72B	167.74B	10.46B
Other Assets	9.15B	9.79B	11.72B	10.14B	10.88B	13.33B	17.26B	19.89B	19.77B	180.29B
Total Liabilities	220.15B	212.46B	210.12B	228.89B	247.21B	283.4B	287.22B	286.46B	284.14B	298.52B
Total Debt+	108.08B	117.09B	113.06B	133.14B	150.55B	177.93B	176.33B	174.94B	168.36B	200.59B
Net Debt	105.2B	115.02B	110.32B	130.55B	128.38B	175.01B	173.73B	172.88B	164.16B	181.55B
Long-Term Debt	105.43B	113.64B	105.87B	100.71B	123.17B	143.43B	140.68B	137.7B	121.38B	158.48B
Short-Term Borrowings	2.65B	3.45B	7.19B	10.78B	5.89B	7.44B	9.96B	12.97B	22.63B	23.16B
Capital Lease Obligations	0	0	0	21.65B	21.48B	27.06B	25.69B	24.27B	24.34B	18.95B
Total Current Liabilities+	30.34B	33.04B	37.93B	44.87B	39.66B	47.16B	50.17B	53.22B	64.77B	62.37B
Accounts Payable	7.08B	7.06B	7.23B	7.72B	6.67B	8.04B	8.75B	10.02B	10.43B	24.98B
Accrued Expenses	10.99B	12.69B	13.79B	12.31B	12.56B	15.17B	13.35B	10.82B	11.05B	0
Deferred Revenue	2.91B	4.05B	4.21B	4.65B	4.84B	6.05B	6.58B	6.96B	7.49B	0
Other Current Liabilities	2.81B	1.87B	1.52B	1.81B	2.17B	2.26B	2.75B	2.75B	3.98B	14.23B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	38.41B	34.55B	32.52B	30.22B	30.66B	28.92B	31.37B	29.75B	31.32B	10B
Total Equity+	24.03B	44.69B	54.71B	62.84B	69.27B	83.2B	92.46B	93.8B	100.58B	105.74B
Equity Growth %	34.69%	85.95%	22.43%	14.85%	10.24%	20.11%	11.13%	1.44%	7.22%	5.14%
Shareholders Equity	22.52B	43.1B	53.15B	61.4B	67.84B	81.79B	91.14B	92.43B	99.24B	104.46B
Minority Interest	1.51B	1.59B	1.56B	1.44B	1.43B	1.41B	1.32B	1.37B	1.34B	1.28B
Common Stock	424M	424M	429M	429M	429M	429M	429M	429M	429M	429M
Additional Paid-in Capital	11.18B	11.1B	13.44B	13.42B	13.4B	13.86B	13.42B	13.63B	13.47B	13.37B
Retained Earnings	15.06B	35.63B	43.54B	53.15B	60.46B	71.99B	82.38B	82.92B	89.11B	94.74B
Accumulated OCI	2.67B	2.66B	2.37B	998M	-71M	-927M	-1.86B	-1.38B	-923M	-1.73B
Return on Assets (ROA)	5.38%	12.01%	5.95%	6.92%	5.85%	6.46%	5.7%	3.06%	4.58%	4.35%
Return on Equity (ROE)	62.7%	87.61%	31.24%	32.78%	26.95%	28.94%	24.2%	12.47%	18.01%	16.65%
Debt / Equity	4.50x	2.62x	2.07x	2.12x	2.17x	2.14x	1.91x	1.87x	1.67x	1.90x
Debt / Assets	44.26%	45.54%	42.69%	45.64%	47.57%	48.54%	46.44%	46.01%	43.76%	49.62%
Net Debt / EBITDA	2.51x	2.65x	2.33x	2.74x	2.76x	3.63x	3.65x	3.72x	3.39x	3.81x
Book Value per Share	5.88	10.93	13.24	15.18	16.72	20.05	21.99	22.25	23.84	24.99

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	21.69B	24.32B	34.34B	35.75B	41.77B	39.54B	37.14B	37.48B	36.91B	37.14B
Operating CF Growth %	-44.43%	12.12%	41.21%	4.1%	16.85%	-5.34%	-6.06%	0.9%	-1.5%	0.61%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	13.61B	30.55B	16.04B	19.79B	18.35B	22.62B	21.75B	12.1B	17.95B	17.17B
Depreciation & Amortization	15.93B	16.95B	17.4B	16.68B	16.72B	16.21B	17.1B	17.62B	17.89B	18.35B
Deferred Taxes	-1.06B	-14.46B	389M	1.23B	1.55B	4.26B	2.97B	2.39B	815M	2.34B
Other Non-Cash Items	-3.29B	-2.73B	1.69B	4.76B	5.09B	-2.66B	-4.83B	5.63B	2.53B	1.59B
Working Capital Changes	-6.75B	-5.94B	-1.18B	-6.71B	56M	-890M	-456M	-267M	-2.28B	-2.32B
Capital Expenditures+	-17.59B	-17.83B	-18.09B	-18.84B	-20.32B	-67.15B	-26.74B	-18.77B	-17.99B	-17.01B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-10.98B	-18.46B	-17.93B	-17.58B	-23.51B	-67.15B	-28.66B	-23.43B	-18.67B	-16.66B
Acquisitions	6.12B	-2.31B	-230M	-1M	-520M	57M	281M	-30M	0	0
Purchase of Investments	0	0	0	0	0	-21M	-2.27B	0	0	0
Sale of Investments	0	0	0	0	0	1000K	0	0	0	0
Other Investing	493M	1.64B	383M	1.26B	-2.67B	-46.92B	62M	1.16B	-684M	801M
Cash from Financing+	-13.32B	-6.15B	-15.38B	-18.16B	1.32B	8.28B	-8.53B	-14.66B	-17.1B	-5.61B
Dividends Paid	-9.26B	-9.47B	-9.77B	-10.02B	-10.23B	-10.45B	-10.8B	-11.03B	-11.25B	-11.48B
Dividend Payout Ratio %	70.56%	31.47%	62.93%	51.99%	57.48%	47.34%	50.83%	94.93%	64.26%	66.85%
Debt Issuance (Net)	-1000K	1000K	-1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	1000K
Stock Issued	3M	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	-2.85B	-4.44B	-1.82B	-2.92B	-2.71B	-3.83B	-2.07B	-1.47B	-1.07B	-1.95B
Net Change in Cash+	-1.59B	-289M	1.03B	1M	19.58B	-19.34B	-50M	-614M	1.14B	14.54B
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	-1000K
Cash at Beginning	4.47B	3.18B	2.89B	3.92B	3.92B	23.5B	4.16B	4.11B	3.5B	4.51B
Cash at End	2.88B	2.89B	3.92B	3.92B	23.5B	4.16B	4.11B	3.5B	4.63B	19.05B
Free Cash Flow+	4.1B	6.49B	16.25B	16.91B	21.45B	-27.61B	10.4B	18.71B	18.92B	20.13B
FCF Growth %	-54.41%	58.4%	150.49%	4.04%	26.86%	-228.74%	137.67%	79.87%	1.14%	6.36%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
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 Margin	33.21%	34.49%	36.23%	36.18%	36.31%	36.05%	34.76%	34.67%	35.98%	34.45%
Net Debt / EBITDA	2.51x	2.65x	2.33x	2.74x	2.76x	3.63x	3.65x	3.72x	3.39x	3.81x
Interest Coverage	5.92x	5.60x	6.21x	6.56x	6.99x	9.14x	8.51x	5.22x	4.60x	4.37x
CapEx / Revenue	13.96%	14.15%	13.82%	14.28%	15.84%	50.26%	19.54%	18.33%	13.35%	12.64%
Dividend Payout Ratio	70.56%	31.47%	62.93%	51.99%	57.48%	47.34%	50.83%	94.93%	64.26%	66.85%
Debt / Equity	4.50x	2.62x	2.07x	2.12x	2.17x	2.14x	1.91x	1.87x	1.67x	1.90x
EPS Growth	-26.54%	129.28%	-48.91%	23.67%	-7.53%	23.72%	-4.89%	-45.65%	50.91%	-2.17%

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Verizon Communications Inc. (VZ) 10-Year Financial Performance & Capital Metrics

VZ • • Utilities

Communication ServicesTelecom ServicesIntegrated Telecom and Media Groups

Revenue $138.19B +2.5%
EBITDA $47.61B -1.8%
Net Income $17.17B -1.9%
Free Cash Flow $20.13B +6.4%
EBITDA Margin 34.45% -4.2%
Net Margin 12.43% -4.3%
ROE 16.65% -7.6%
Interest Coverage 4.37 -5.0%
Debt/Equity 1.90 +13.3%
Net Debt/EBITDA 3.81 +12.7%
CapEx / Revenue 12.64% -5.3%
CapEx Coverage 2.13 +3.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓10 years of consecutive dividend growth
✓10 consecutive years of dividend growth
✓Strong interest coverage of 4.4x
✓Good 3Y average ROE of 18.2%
✓Healthy dividend yield of 5.4%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y0.49%

5Y1.5%

3Y0.33%

TTM2.39%

Profit (Net Income) CAGR

10Y-0.4%

5Y-0.71%

3Y-6.86%

TTM-3.03%

EPS CAGR

10Y-0.73%

5Y-1.14%

3Y-7.08%

TTM4.52%

ROCE

10Y Avg10.94%

5Y Avg9.44%

3Y Avg9.03%

Latest8.84%

Peer Comparison

Integrated Telecom and Media Groups

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCEBCE Inc.	24.53B	26.31	200.04	-1.07%	25.87%	27.83%	7.62%	2.21
TIGOMillicom International Cellular S.A.	12.18B	72.89	49.59	2.53%	19.59%	33.11%	9.27%	1.89
KTKT Corporation	11.48B	23.81	36.06	0.55%	3.54%	5.16%	13.01%	0.64
CHTChunghwa Telecom Co., Ltd.	33.54B	43.24	27.21	3.3%	16.43%	9.93%
TUTELUS Corporation	21.45B	13.74	26.12	1.82%	5.43%	6.71%	8.01%	1.90
VIVTelefônica Brasil S.A.	27.02B	16.91	25.83	7.19%	10.36%	8.98%	7.57%	0.30
AMXAmérica Móvil, S.A.B. de C.V.	78.37B	26.02	17.38	1.82%	8.78%	19.26%	8.94%	2.14
TLKPerusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk	21.07B	21.27	15.03	0.5%	14.76%	14.04%	8.98%	0.47

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue+	125.98B	126.03B	130.86B	131.87B	128.29B	133.61B	136.84B	133.97B	134.79B	138.19B
Revenue Growth %	-4.29%	0.04%	3.83%	0.77%	-2.71%	4.15%	2.41%	-2.09%	0.61%	2.52%
Cost of Revenue	67.35B	68.51B	72.61B	71.41B	67.92B	72.51B	76.23B	72.51B	71.99B	75.11B
Gross Profit+	58.63B	57.52B	58.26B	60.46B	60.37B	61.11B	60.6B	61.46B	62.8B	63.08B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-7.01%	-1.88%	1.27%	3.79%	-0.15%	1.22%	-0.82%	1.42%	2.17%	0.44%
Operating Expenses+	32.72B	31B	28.25B	29.43B	30.5B	29.14B	30.14B	32.63B	32.2B	33.82B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	41.84B	43.47B	47.41B	47.71B	46.59B	48.17B	47.57B	46.45B	48.5B	47.61B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	-14.31%	3.91%	9.06%	0.63%	-2.36%	3.4%	-1.26%	-2.34%	4.39%	-1.83%
Depreciation & Amortization+	15.93B	16.95B	17.4B	16.68B	16.72B	16.21B	17.1B	17.62B	17.89B	18.35B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	25.91B	26.52B	30.01B	31.03B	29.87B	31.96B	30.47B	28.83B	30.6B	29.26B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-21.02%	2.35%	13.15%	3.41%	-3.74%	7.02%	-4.69%	-5.37%	6.15%	-4.39%
Interest Expense+	4.38B	4.73B	4.83B	4.73B	4.27B	3.5B	3.58B	5.53B	6.65B	6.69B
Interest Coverage	5.92x	5.60x	6.21x	6.56x	6.99x	9.14x	8.51x	5.22x	4.60x	4.37x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	20.99B	20.59B	19.62B	22.73B	23.97B	29.42B	28.27B	16.99B	22.98B	22.67B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	7.38B	-9.96B	3.58B	2.94B	5.62B	6.8B	6.52B	4.89B	5.03B	5.06B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	13.13B	30.1B	15.53B	19.27B	17.8B	22.07B	21.26B	11.61B	17.51B	17.17B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-26.58%	129.31%	-48.41%	24.07%	-7.6%	23.95%	-3.67%	-45.36%	50.73%	-1.9%
EPS (Diluted)+	3.21	7.36	3.76	4.65	4.30	5.32	5.06	2.75	4.15	4.06
EPS Growth %	-26.54%	129.28%	-48.91%	23.67%	-7.53%	23.72%	-4.89%	-45.65%	50.91%	-2.17%
EPS (Basic)	3.22	7.37	3.76	4.66	4.30	5.32	5.06	2.76	4.15	4.06
Diluted Shares Outstanding	4.09B	4.09B	4.13B	4.14B	4.14B	4.15B	4.2B	4.21B	4.22B	4.23B

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	244.18B	257.14B	264.83B	291.73B	316.48B	366.6B	379.68B	380.25B	384.71B	404.26B
Asset Growth %	0%	5.31%	2.99%	10.16%	8.49%	15.84%	3.57%	0.15%	1.17%	5.08%
PP&E (Net)+	84.75B	88.57B	89.29B	114.61B	117.36B	127.58B	133.56B	133.04B	132.99B	132.97B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	26.39B	29.91B	34.64B	37.47B	54.59B	36.73B	37.86B	36.81B	40.52B	56.92B
Cash & Equivalents	2.88B	2.08B	2.75B	2.59B	22.17B	2.92B	2.6B	2.06B	4.19B	19.05B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	1.2B	1.03B	1.34B	1.42B	1.8B	3.06B	2.39B	2.06B	2.25B	2.44B
Other Current Assets	882M	0	3.13B	3.8B	3.67B	5.79B	5.91B	5.65B	5.04B	7.09B
Long-Term Investments	1.11B	1.04B	671M	558M	589M	1.06B	1.07B	953M	842M	785M
Goodwill	27.2B	29.17B	24.61B	24.39B	24.77B	28.6B	28.67B	22.84B	22.84B	22.84B
Intangible Assets	95.57B	98.66B	103.91B	104.56B	108.28B	159.3B	161.26B	166.72B	167.74B	10.46B
Other Assets	9.15B	9.79B	11.72B	10.14B	10.88B	13.33B	17.26B	19.89B	19.77B	180.29B
Total Liabilities	220.15B	212.46B	210.12B	228.89B	247.21B	283.4B	287.22B	286.46B	284.14B	298.52B
Total Debt+	108.08B	117.09B	113.06B	133.14B	150.55B	177.93B	176.33B	174.94B	168.36B	200.59B
Net Debt	105.2B	115.02B	110.32B	130.55B	128.38B	175.01B	173.73B	172.88B	164.16B	181.55B
Long-Term Debt	105.43B	113.64B	105.87B	100.71B	123.17B	143.43B	140.68B	137.7B	121.38B	158.48B
Short-Term Borrowings	2.65B	3.45B	7.19B	10.78B	5.89B	7.44B	9.96B	12.97B	22.63B	23.16B
Capital Lease Obligations	0	0	0	21.65B	21.48B	27.06B	25.69B	24.27B	24.34B	18.95B
Total Current Liabilities+	30.34B	33.04B	37.93B	44.87B	39.66B	47.16B	50.17B	53.22B	64.77B	62.37B
Accounts Payable	7.08B	7.06B	7.23B	7.72B	6.67B	8.04B	8.75B	10.02B	10.43B	24.98B
Accrued Expenses	10.99B	12.69B	13.79B	12.31B	12.56B	15.17B	13.35B	10.82B	11.05B	0
Deferred Revenue	2.91B	4.05B	4.21B	4.65B	4.84B	6.05B	6.58B	6.96B	7.49B	0
Other Current Liabilities	2.81B	1.87B	1.52B	1.81B	2.17B	2.26B	2.75B	2.75B	3.98B	14.23B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	38.41B	34.55B	32.52B	30.22B	30.66B	28.92B	31.37B	29.75B	31.32B	10B
Total Equity+	24.03B	44.69B	54.71B	62.84B	69.27B	83.2B	92.46B	93.8B	100.58B	105.74B
Equity Growth %	34.69%	85.95%	22.43%	14.85%	10.24%	20.11%	11.13%	1.44%	7.22%	5.14%
Shareholders Equity	22.52B	43.1B	53.15B	61.4B	67.84B	81.79B	91.14B	92.43B	99.24B	104.46B
Minority Interest	1.51B	1.59B	1.56B	1.44B	1.43B	1.41B	1.32B	1.37B	1.34B	1.28B
Common Stock	424M	424M	429M	429M	429M	429M	429M	429M	429M	429M
Additional Paid-in Capital	11.18B	11.1B	13.44B	13.42B	13.4B	13.86B	13.42B	13.63B	13.47B	13.37B
Retained Earnings	15.06B	35.63B	43.54B	53.15B	60.46B	71.99B	82.38B	82.92B	89.11B	94.74B
Accumulated OCI	2.67B	2.66B	2.37B	998M	-71M	-927M	-1.86B	-1.38B	-923M	-1.73B
Return on Assets (ROA)	5.38%	12.01%	5.95%	6.92%	5.85%	6.46%	5.7%	3.06%	4.58%	4.35%
Return on Equity (ROE)	62.7%	87.61%	31.24%	32.78%	26.95%	28.94%	24.2%	12.47%	18.01%	16.65%
Debt / Equity	4.50x	2.62x	2.07x	2.12x	2.17x	2.14x	1.91x	1.87x	1.67x	1.90x
Debt / Assets	44.26%	45.54%	42.69%	45.64%	47.57%	48.54%	46.44%	46.01%	43.76%	49.62%
Net Debt / EBITDA	2.51x	2.65x	2.33x	2.74x	2.76x	3.63x	3.65x	3.72x	3.39x	3.81x
Book Value per Share	5.88	10.93	13.24	15.18	16.72	20.05	21.99	22.25	23.84	24.99

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	21.69B	24.32B	34.34B	35.75B	41.77B	39.54B	37.14B	37.48B	36.91B	37.14B
Operating CF Growth %	-44.43%	12.12%	41.21%	4.1%	16.85%	-5.34%	-6.06%	0.9%	-1.5%	0.61%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	13.61B	30.55B	16.04B	19.79B	18.35B	22.62B	21.75B	12.1B	17.95B	17.17B
Depreciation & Amortization	15.93B	16.95B	17.4B	16.68B	16.72B	16.21B	17.1B	17.62B	17.89B	18.35B
Deferred Taxes	-1.06B	-14.46B	389M	1.23B	1.55B	4.26B	2.97B	2.39B	815M	2.34B
Other Non-Cash Items	-3.29B	-2.73B	1.69B	4.76B	5.09B	-2.66B	-4.83B	5.63B	2.53B	1.59B
Working Capital Changes	-6.75B	-5.94B	-1.18B	-6.71B	56M	-890M	-456M	-267M	-2.28B	-2.32B
Capital Expenditures+	-17.59B	-17.83B	-18.09B	-18.84B	-20.32B	-67.15B	-26.74B	-18.77B	-17.99B	-17.01B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-10.98B	-18.46B	-17.93B	-17.58B	-23.51B	-67.15B	-28.66B	-23.43B	-18.67B	-16.66B
Acquisitions	6.12B	-2.31B	-230M	-1M	-520M	57M	281M	-30M	0	0
Purchase of Investments	0	0	0	0	0	-21M	-2.27B	0	0	0
Sale of Investments	0	0	0	0	0	1000K	0	0	0	0
Other Investing	493M	1.64B	383M	1.26B	-2.67B	-46.92B	62M	1.16B	-684M	801M
Cash from Financing+	-13.32B	-6.15B	-15.38B	-18.16B	1.32B	8.28B	-8.53B	-14.66B	-17.1B	-5.61B
Dividends Paid	-9.26B	-9.47B	-9.77B	-10.02B	-10.23B	-10.45B	-10.8B	-11.03B	-11.25B	-11.48B
Dividend Payout Ratio %	70.56%	31.47%	62.93%	51.99%	57.48%	47.34%	50.83%	94.93%	64.26%	66.85%
Debt Issuance (Net)	-1000K	1000K	-1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	1000K
Stock Issued	3M	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	-2.85B	-4.44B	-1.82B	-2.92B	-2.71B	-3.83B	-2.07B	-1.47B	-1.07B	-1.95B
Net Change in Cash+	-1.59B	-289M	1.03B	1M	19.58B	-19.34B	-50M	-614M	1.14B	14.54B
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	-1000K
Cash at Beginning	4.47B	3.18B	2.89B	3.92B	3.92B	23.5B	4.16B	4.11B	3.5B	4.51B
Cash at End	2.88B	2.89B	3.92B	3.92B	23.5B	4.16B	4.11B	3.5B	4.63B	19.05B
Free Cash Flow+	4.1B	6.49B	16.25B	16.91B	21.45B	-27.61B	10.4B	18.71B	18.92B	20.13B
FCF Growth %	-54.41%	58.4%	150.49%	4.04%	26.86%	-228.74%	137.67%	79.87%	1.14%	6.36%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
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 Margin	33.21%	34.49%	36.23%	36.18%	36.31%	36.05%	34.76%	34.67%	35.98%	34.45%
Net Debt / EBITDA	2.51x	2.65x	2.33x	2.74x	2.76x	3.63x	3.65x	3.72x	3.39x	3.81x
Interest Coverage	5.92x	5.60x	6.21x	6.56x	6.99x	9.14x	8.51x	5.22x	4.60x	4.37x
CapEx / Revenue	13.96%	14.15%	13.82%	14.28%	15.84%	50.26%	19.54%	18.33%	13.35%	12.64%
Dividend Payout Ratio	70.56%	31.47%	62.93%	51.99%	57.48%	47.34%	50.83%	94.93%	64.26%	66.85%
Debt / Equity	4.50x	2.62x	2.07x	2.12x	2.17x	2.14x	1.91x	1.87x	1.67x	1.90x
EPS Growth	-26.54%	129.28%	-48.91%	23.67%	-7.53%	23.72%	-4.89%	-45.65%	50.91%	-2.17%

Verizon Communications Inc. (VZ) 10-Year Financial Performance & Capital Metrics

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Verizon Communications Inc. (VZ) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare VZ vs Peers

vs T

vs TBB

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

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Deep Dive Analysis

Valuation Overview

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Dividend History

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Financial Ratios