FirmAtlas
Company handbook · VZ · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
VZ · CIK 732712 · LATEST FILING: 10-Q JUN '26 · FILED JUL 31, 2026
Verizon Communications Inc.
$44.79
+0.39 (+0.88%)
Close, Oct 16, 2026 · 52-week $38–52
Last fiscal year
Verizon Communications Inc. reported revenue of $138.2B for the year ended Dec 31, 2025 (FY25), up 2.5% from FY24. Net income was $17.2B and operating cash flow $37.1B. Source: 10-K filed Feb 17, 2026.
Market cap
$189.5B
P/E
11.7
EV/EBITDA
6.5x
P/B
1.8
Div yield
6.28%
ROIC
10.3%
Revenue 1Y
2.5%/yr
EPS 1Y
−1.9%/yr
Shares 1Y
+0.2%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEODaniel H. Schulman
HQNew York, NY
AuditorErnst & Young LLP
Employees89,900
Year endsDecember
Revenue by segment · FY25
Verizon Consumer Group79%
Verizon Business Group21%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
−1.1%
−3.0%
12.7%
11.0%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$22.7B deployed
Dividends
$22.7B
100.0%
Operating cash flow over the period: $74.0B. Total debt changed by +$18.2B.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
134,788
138,191+2.5%
138,895
YoY
+2.5%
Operating income
28,686
29,259+2.0%
28,530
Operating margin
21.3%
21.2%−0.1 pp
—
EBITDA
46,578
47,608+2.2%
—
EBITDA margin
34.6%
34.5%−0.1 pp
—
Interest expense
6,649
6,694+0.7%
—
Interest coverage
7.01x
7.11x+0.11x
—
Net income
17,506
17,174−1.9%
16,172
YoY
−1.9%
Net margin
13.0%
12.4%−0.6 pp
—
EPS (diluted, $)
4.14
4.06−1.9%
3.84
YoY
−1.9%
Balance sheet
Total assets
384,711
404,258+5.1%
410,186
Cash & short-term investments
4,635
19,499+320.7%
—
Inventory
2,247
2,441+8.6%
—
Net PP&E
108,522
109,467+0.9%
—
Other assets
269,307
272,851+1.3%
—
Total liabilities
284,136
298,517+5.1%
304,990
Accounts payable
10,425
12,154+16.6%
—
Total debt
121,381
139,532+15.0%
143,448
Other liabilities
152,330
146,831−3.6%
—
Shareholders’ equity
100,575
105,741+5.1%
105,196
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
36,912
37,137+0.6%
38,799
Net income
17,949
17,608−1.9%
—
Depreciation & amortization
17,892
18,349+2.6%
—
Working capital & other
1,071
1,180+10.2%
—
Cash from investing
(18,674)
(16,660)n/m
—
Acquisitions
0
0n/m
—
Other investing
(18,674)
(16,660)n/m
—
Cash from financing
(17,100)
(5,613)n/m
—
Debt raised
15,600
27,600+76.9%
—
Debt repaid
(4,688)
(9,034)n/m
—
Dividends
(11,249)
(11,481)n/m
—
Other financing
(16,763)
(12,698)n/m
—
Net change in cash
1,138
14,864+1206.2%
—
Where the cash went
Returns & ratios
ROIC (all capital)
10.3%
10.3%−0.1 pp
—
ROIC (operating)
22.3%
22.7%+0.4 pp
—
Net debt / EBITDA
2.51x
2.52x+0.01x
—
Debt / equity
1.21x
1.32x+0.11x
—
ROE
17.4%
16.2%−1.2 pp
—
ROA
4.6%
4.2%−0.3 pp
—
ROCE
9.0%
8.6%−0.4 pp
—
NOPAT
22,407
22,724+1.4%
—
Invested capital (operating)
100,344
99,754−0.6%
—
Invested capital (all)
217,321
225,774+3.9%
—
Reinvestment rate
—
−2.6%
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
33,821
36,381
34,440
34,253
vs year-ago quarter
Operating income
8,105
5,004
8,242
7,179
Net income
4,950
2,342
5,045
3,835
vs year-ago quarter
Net margin
14.6%
6.4%
14.6%
11.2%
EPS (diluted, $)
1.17
0.55
1.20
0.92
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
388,331
404,258
417,882
410,186
Cash & equivalents
8,156
19,499
8,632
2,304
Total debt
126,629
139,532
144,231
143,448
Shareholders’ equity
106,345
105,741
104,622
105,196
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
11,266
9,114
7,984
10,435