VZ
SP100NYSEVerizon Communications Inc.
Communication Services · Telecom Services · United States
Verizon Communications Inc., through its subsidiaries, engages in the provision of communications, technology, information, and streaming products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business). The Consumer segment provides wireless services across the wireless networks in the United States under the Verizon and TracFone brands and through wholesale and other arrangements; and fixed wireless access (FWA) broadband through its wireless networks, as well as related equipment and devices, such as smartphones, tablets, smartwatches, and other wireless-enabled connected devices. The segment also offers wireline services in the Mid-Atlantic and Northeastern United States, as well as Washington D.C. through its fiber-optic network, Verizon Fios product portfolio, and a copper-based network. The Business segment provides wireless and wireline communications services and products, including FWA and wireline broadband, advanced communication services, corporate networking, security and managed network, local and long-distance voice, and network access services to deliver various IoT services and products to businesses, government customers, and wireless and wireline carriers in the United States and internationally. The company distributes its products and services through direct channels, company-operated stores, digital and omnichannel platforms, indirect agents, business solution resellers, and national retailers. 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.
www.verizon.com ↗Shares trade at a low 10.4× trailing earnings, easing to 8.1× on forward estimates. Profitability shows a net margin of 12.5% and return on equity of 17.2%. Leverage is elevated at 3.8× net debt/EBITDA. Revenue grew 2.9% year-on-year. It yields 6.6% in dividends. The mean analyst target of USD51.90 sits 22.0% above the current price (Buy, 23 analysts).
business model
Verizon Communications is a telecommunications company providing wireless voice and data, and wireline broadband and enterprise networking. It earns recurring subscription revenue from consumer and business wireless plans, Fios fiber broadband, fixed wireless access, and enterprise connectivity solutions.
revenue segments
Two reportable segments: Verizon Consumer (wireless postpaid/prepaid, Fios internet and video, fixed wireless) and Verizon Business (wireless and wireline enterprise, small-business and public-sector solutions). Consumer wireless is the dominant profit driver.
key dependencies
Depends on spectrum holdings (including C-band for 5G), network quality and buildout, subscriber growth and churn, device financing, its Fios fiber footprint, and heavy capital investment funded partly by significant debt.
competitors
Competes with T-Mobile and AT&T in wireless, cable operators (Comcast, Charter) in broadband and MVNO wireless, and various enterprise networking providers.
moat
Extensive spectrum and network assets, a reputation for network quality, large scale and subscriber base, Fios fiber infrastructure in the Northeast, and switching friction from bundles and device financing.
risks
Intense wireless competition and promotional pressure on pricing, high debt load and capital intensity, cable-company wireless encroachment, subscriber churn, spectrum and network cost demands, and secular decline in legacy wireline.
Financials & metrics
as of 26 Aug 2026Price is closer to the high end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Full financial statements
Income statement
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | $138.19B | $134.79B | $133.97B | $136.84B | — |
| Cost of revenue | $56.77B | $54.10B | $54.89B | $59.13B | — |
| Gross profit | $81.43B | $80.69B | $79.09B | $77.70B | — |
| Operating expense | $52.17B | $52.01B | $50.37B | $47.23B | — |
| Operating income | $29.26B | $28.69B | $28.72B | $30.47B | — |
| Interest expense | $6.69B | $6.65B | $5.52B | $3.61B | — |
| Pretax income | $22.67B | $22.98B | $16.99B | $28.27B | — |
| Tax provision | $5.06B | $5.03B | $4.89B | $6.52B | — |
| Net income | $17.17B | $17.51B | $11.61B | $21.26B | — |
| EBITDA | $47.72B | $47.52B | $40.13B | $48.98B | — |
| Diluted EPS | $4.06 | $4.14 | $2.75 | $5.06 | — |
Balance sheet
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | $404.26B | $384.71B | $380.25B | $379.68B | — |
| Current assets | $56.92B | $40.52B | $36.81B | $37.86B | — |
| Cash & equivalents | $19.05B | $4.19B | $2.06B | $2.60B | — |
| Inventory | $2.44B | $2.25B | $2.06B | $2.39B | — |
| Total liabilities | $298.52B | $284.14B | $286.46B | $287.22B | — |
| Current liabilities | $62.37B | $64.77B | $53.22B | $50.17B | — |
| Total debt | $181.64B | $168.36B | $174.94B | $176.33B | — |
| Long-term debt | $139.53B | $121.38B | $137.70B | $140.68B | — |
| Shareholders' equity | $104.46B | $99.24B | $92.43B | $91.14B | — |
| Retained earnings | $94.74B | $89.11B | $82.92B | $82.38B | — |
| Working capital | -$5.45B | -$24.25B | -$16.41B | -$12.31B | — |
Cash flow
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | $37.14B | $36.91B | $37.48B | $37.14B | — |
| Investing cash flow | -$16.66B | -$18.67B | -$23.43B | -$28.66B | — |
| Financing cash flow | -$5.61B | -$17.10B | -$14.66B | -$8.53B | — |
| Capital expenditure | -$17.46B | -$17.99B | -$24.56B | -$26.74B | — |
| Free cash flow | $19.68B | $18.92B | $12.91B | $10.40B | — |
| Dividends paid | -$11.48B | -$11.25B | -$11.03B | -$10.80B | — |
| End cash position | $19.50B | $4.63B | $3.50B | $4.11B | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
Analyst assessment
as of 26 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 26 Aug 2026News
Sector peers
Notes & alerts
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