VERIZON COMMUNICATIONS INC VZ
Verizon Communications Inc. (the Company) is a holding company that, acting through its subsidiaries (together with the Company, collectively, Verizon), is one of the world's leading providers of communications, technology, information and streaming products and services to consumers, businesses and government entities. With a presence around the world, we offer data, video and voice services and solutions on our networks and platforms that are designed to meet customers' demand for mobility, reliable network connectivity and security.
We have two reportable segments that we operate and manage as strategic business units - Verizon Consumer Group (Consumer) and Verizon Business Group (Business).
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $138.19B | $134.79B | $133.97B | $136.84B | $133.61B | $128.29B | $131.87B | $130.86B | $126.03B | $125.98B |
| Cost of revenue | — | — | — | — | — | — | — | — | $30.92B | $30.46B |
| Gross profit | — | — | — | — | — | — | — | — | $95.12B | $95.52B |
| SG&A | $33.82B | $34.11B | $32.74B | $30.14B | $28.66B | $31.57B | $29.90B | $31.08B | $28.59B | $28.10B |
| Total operating expenses | $108.93B | $106.10B | $111.10B | $106.37B | $101.17B | $99.49B | $101.49B | $108.58B | $98.61B | $96.73B |
| Operating income | $29.26B | $28.69B | $22.88B | $30.47B | $32.45B | $28.80B | $30.38B | $22.28B | $27.43B | $29.25B |
| Interest expense | $6.69B | $6.65B | $5.52B | $3.61B | $3.48B | $4.25B | $4.73B | $4.83B | $4.73B | $4.38B |
| Pre-tax income | $22.67B | $22.98B | $16.99B | $28.27B | $29.42B | $23.97B | $22.73B | $19.62B | $20.59B | $20.99B |
| Income tax | $5.06B | $5.03B | $4.89B | $6.52B | $6.80B | $5.62B | $2.94B | $3.58B | $9.96B | $7.38B |
| Net income | $17.61B | $17.95B | $12.10B | $21.75B | $22.62B | $17.80B | $19.27B | $15.53B | $30.10B | $13.13B |
| EPS, basic | 4.06 | 4.15 | 2.76 | 5.06 | 5.32 | 4.30 | 4.66 | 3.76 | 7.37 | 3.22 |
| EPS, diluted | 4.06 | 4.14 | 2.75 | 5.06 | 5.32 | 4.30 | 4.65 | 3.76 | 7.36 | 3.21 |
| Shares, diluted (wtd. avg.) | $4.23B | $4.22B | $4.21B | $4.20B | $4.15B | $4.14B | $4.14B | $4.13B | $4.09B | $4.09B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $19.05B | $4.19B | $3.50B | $4.11B | $4.16B | $23.50B | $3.92B | $3.92B | $2.89B | $3.18B |
| Receivables | — | — | — | — | $23.85B | $23.92B | $25.43B | $25.10B | $23.49B | $17.51B |
| Inventory | $2.44B | $2.25B | $2.06B | $2.39B | $3.06B | $1.80B | $1.42B | $1.34B | $1.03B | $1.20B |
| Total current assets | $56.92B | $40.52B | $36.81B | $37.86B | $36.73B | $54.59B | $37.47B | $34.64B | $29.91B | $26.39B |
| Property, plant and equipment | $109.47B | $108.52B | $108.31B | $107.43B | $99.70B | $94.83B | $91.92B | $89.29B | $88.57B | $84.75B |
| Goodwill | $22.84B | $22.84B | $22.84B | $28.67B | $28.60B | $24.77B | $24.39B | $24.61B | $29.17B | $27.20B |
| Other intangibles | $10.46B | $11.13B | $11.06B | $11.46B | $11.68B | $9.41B | $9.50B | $9.78B | $10.25B | $8.90B |
| Total assets | $404.26B | $384.71B | $380.25B | $379.68B | $366.60B | $316.48B | $291.73B | $264.83B | $257.14B | $244.18B |
| Accounts payable | $12.15B | $10.43B | $10.02B | $8.75B | $8.04B | $6.67B | $7.72B | $7.23B | $7.06B | $7.08B |
| Short-term debt | $18.62B | $22.63B | $12.97B | $9.96B | $7.44B | $5.89B | $10.78B | $7.19B | $3.45B | $2.65B |
| Total current liabilities | $62.37B | $64.77B | $53.22B | $50.17B | $47.16B | $39.66B | $44.87B | $37.93B | $33.04B | $30.34B |
| Retained earnings | $94.74B | $89.11B | $82.92B | $82.38B | $71.99B | $60.46B | $53.15B | $43.54B | $35.63B | $15.06B |
| Total equity | $105.74B | $100.58B | $93.80B | $92.46B | $83.20B | $69.27B | $62.84B | $54.71B | $44.69B | $24.03B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $37.14B | $36.91B | $37.48B | $37.14B | $39.54B | $41.77B | $35.75B | $34.34B | $24.32B | $21.69B |
| Depreciation and amortisation | $15.35B | $15.11B | $14.94B | $14.59B | $14.12B | $14.28B | $14.37B | $15.19B | $14.74B | $14.23B |
| Stock-based compensation | — | — | — | — | — | — | — | — | — | $400.0M |
| Capital expenditure | — | — | — | — | — | — | — | $16.66B | $17.25B | $17.06B |
| Investing cash flow | -$16.66B | -$18.67B | -$23.43B | -$28.66B | -$67.15B | -$23.51B | -$17.58B | -$17.93B | -$18.46B | -$9.87B |
| Financing cash flow | -$5.61B | -$17.10B | -$14.66B | -$8.53B | $8.28B | $1.32B | -$18.16B | -$15.38B | -$6.15B | -$13.38B |
| Dividends paid | $11.48B | $11.25B | $11.03B | $10.80B | $10.45B | $10.23B | $10.02B | $9.77B | $9.47B | $9.26B |
| Buybacks | — | — | — | — | — | — | — | — | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001308179-26-000210.
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