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VZ VERIZON COMMUNICATIONS INC

NYSECommunication & mediaTelephone Communications (No Radiotelephone)New York, NYFY ends December 31

Profitable 5/5: Fiscal years with net income above zero, out of the last five reported.FY2025 10-K filed Feb 17, 2026

FY2025 at a glance

Fundamentals from SEC filings, not quotes
Revenue
$138BYoYup 2.52%ended Dec 31, 2025
Net income
$17.2B12.4% margin
Diluted EPS
$4.06YoYdown 1.93%
Free cash flow
—
Cash
$19BNet debt $140B
Total debt
$159BD/E 1.5×
About VERIZON COMMUNICATIONS INC

Overview

VERIZON COMMUNICATIONS INC (VZ) is listed on NYSE; the SEC classifies it under "Telephone Communications (No Radiotelephone)".

For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $138.19B, up 2.5% from fiscal 2024.

Net income was $17.17B, a net margin of 12.4%.

At fiscal year end it had total assets of $404.26B and stockholders' equity of $105.74B (26.2% of assets).

Fiscal years shown
FY2016–FY2025 (10 years)
Latest 10-K
Feb 17, 2026
Latest filing
10-QOct 29, 2026
FY2016–FY2025 · annual 10-K

Charts

Revenue and net income

Revenue and net income, fiscal years FY2016 to FY2025.
PeriodRevenueNet incomeNet margin
FY2016$126B$13.1B10.4%
FY2017$126B$30.1B23.9%
FY2018$131B$15.5B11.9%
FY2019$132B$19.3B14.6%
FY2020$128B$17.8B13.9%
FY2021$134B$22.1B16.5%
FY2022$137B$21.3B15.5%
FY2023$134B$11.6B8.7%
FY2024$135B$17.5B13.0%
FY2025$138B$17.2B12.4%

Diluted EPS

Diluted EPS, fiscal years FY2016 to FY2025.
PeriodEPS (diluted)
FY2016$3.21
FY2017$7.36
FY2018$3.76
FY2019$4.65
FY2020$4.30
FY2021$5.32
FY2022$5.06
FY2023$2.75
FY2024$4.14
FY2025$4.06

Diluted shares

Diluted shares, fiscal years FY2016 to FY2025.
PeriodDiluted shares (weighted)
FY20164.09B
FY20174.09B
FY20184.13B
FY20194.14B
FY20204.14B
FY20214.15B
FY20224.2B
FY20234.22B
FY20244.22B
FY20254.23B

Cash vs total debt

Cash vs total debt, fiscal years FY2016 to FY2025.
PeriodCash & equivalentsTotal debt
FY2016$2.88B$108B
FY2017$2.08B$117B
FY2018$2.75B$113B
FY2019$2.59B$111B
FY2020$22.2B$129B
FY2021$2.92B$151B
FY2022$2.61B$151B
FY2023$2.07B$151B
FY2024$4.19B$144B
FY2025$19B$159B

Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

FY2025 · 5-year trend

Ratios

Profitability

Operating margin
21.2%
Net margin
12.4%
Return on equity
16.6%
Return on assets
4.4%

Growth

Growth. Compound annual growth: (end ÷ start)^(1 ÷ years) − 1, both ends positive.
Metric1y3y CAGR5y CAGR9y CAGR
Revenueup 2.52%up 0.33%up 1.50%up 1.03%
EPS (diluted)down 1.93%down 7.08%down 1.14%up 2.64%
Free cash flow————
Change in share count
+0.19%

Financial strength

Current ratio
0.91×
Debt / equity
1.5×
Net debt
$140B
Interest coverage
4.37×
Equity / assets
26.2%

Shareholder returns

Dividends per share
$2.74
Dividends paid
$11.5B
Payout ratio
66.9%
Piotroski F-Score · Altman Z''-Score

Quality screens

Piotroski F-Score

5 of 8 checks passed

FY2025 vs FY2024

Partial: 8 of 9 checks could be computed.

  • PassPositive return on assets4.5%
  • PassPositive operating cash flow$37.1B
  • FailReturn on assets improved4.5% vs 4.6%
  • PassOperating cash flow above net income9.7% vs 4.5%
  • FailLong-term debt / assets fell34.5% vs 31.6%
  • PassCurrent ratio improved0.91× vs 0.63×
  • FailNo increase in share count4.23B vs 4.22B
  • —Not computableGross margin improved—
  • PassAsset turnover improved0.36× vs 0.35×

Altman Z''-Score

Needs current assets and liabilities, retained earnings, operating income, total assets, liabilities and equity from the latest 10-K.

Screening heuristic, not a recommendation. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Last 10 fiscal years · newest first

Financial statements

USD millions, except per-share figures (USD). Share counts in millions.

Income statement

Income statement. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Revenue138,191134,788133,974136,835133,613128,292131,868130,863126,034125,980
YoY (Revenue)+2.52%+0.61%-2.09%+2.41%+4.15%-2.71%+0.77%+3.83%+0.04%—
Selling, general & admin.33,81834,11332,74530,13628,65831,57329,89631,08330,11031,569
Operating income29,25928,68622,87730,46732,44828,79830,37822,27827,41427,059
Interest expense6,6946,6495,5243,6133,4854,2474,7304,8334,7334,376
Pretax income22,67222,97916,98728,27129,42023,96722,73319,62320,59420,986
Income tax5,0645,0304,8926,5236,8025,6192,9453,584-9,9567,378
Net income17,17417,50611,61421,25622,06517,80119,26515,52830,10113,127
YoY (Net income)-1.90%+50.73%-45.36%-3.67%+23.95%-7.60%+24.07%-48.41%+129.31%—
EPS (basic)4.064.152.765.065.324.304.663.767.373.22
EPS (diluted)4.064.142.755.065.324.304.653.767.363.21
YoY (EPS (diluted))-1.93%+50.55%-45.65%-4.89%+23.72%-7.53%+23.67%-48.91%+129.28%—
Diluted shares (weighted)4,2314,2234,2154,2044,1504,1424,1404,1324,0894,086

Balance sheet

Balance sheet. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Cash & equivalents19,0484,1942,0652,6052,92122,1712,5942,7452,0792,880
Receivables————23,84623,91725,42925,10223,49317,513
Inventory2,4412,2472,0572,3883,0551,7961,4221,3361,0341,202
Current assets56,92240,52336,81437,85736,72854,59437,47334,63629,91326,395
Goodwill22,84122,84122,84328,67128,60324,77324,38924,61429,17227,205
Total assets404,258384,711380,255379,680366,596316,481291,727264,829257,143244,180
Current liabilities62,37064,77153,22350,17147,16039,66044,86837,93033,03730,340
Short-term debt19,05922,69812,97310,1137,4436,20910,7777,1903,3032,477
Long-term debt139,532121,381137,701140,676143,425123,173100,712105,873113,642105,433
Retained earnings94,74489,11082,91582,38071,99360,46453,14743,54235,63515,059
Stockholders' equity105,741100,57593,79992,46383,20069,27262,83554,71044,68724,032
Shares outstanding4,2184,2104,2044,2004,1984,1384,1364,1324,0794,077

Cash flow

Cash flow. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Operating cash flow37,13736,91237,47537,14139,53941,76835,74634,33925,30522,715
Depreciation & amortization18,34917,89217,62417,09916,20616,72016,68217,40316,95415,928
Stock-based compensation—————————400
Share repurchases————————0—
Dividends paid11,48111,24911,02510,80510,44510,23210,0169,7729,4729,262
Dividends per share2.742.692.642.592.542.492.442.392.342.29
Key financials (annual, 10-K)

Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.

FY2025 · per diluted weighted share

Per share and valuation context

EPS (diluted)
$4.06
Revenue per share
$32.66
Book value per share
$24.99
Tangible book per share
$19.59
Cash per share
$4.50
Dividends per share
$2.74
Public floatas of Jun 30, 2025
$182B

Price ratios need a live quote. This page shows no stock prices. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Price ratio calculator

Type a share price to compute ratios from the latest 10-K figures. Nothing is stored or sent. (FY2025)

Market capPrice × diluted weighted shares
—
P/EPrice ÷ diluted EPS
—
P/BPrice ÷ book value per share
—
P/SPrice ÷ revenue per share
—
P/FCFPrice ÷ FCF per share
—
Dividend yieldDividends per share ÷ price
—
SEC EDGAR

Filing timeline

  1. 10-QNew
    Quarterly report· Sep 30, 2026(SEC EDGAR)
  2. 8-K
    Current report· Oct 26, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  3. S-4
    Registration statement (business combination)(SEC EDGAR)
  4. 8-K
    Current report· Sep 25, 2026(SEC EDGAR)
    • 5.02Officer or director changes
  5. 10-Q
    Quarterly report· Jun 30, 2026(SEC EDGAR)
  6. 8-K
    Current report· Jul 23, 2026(SEC EDGAR)
    • 5.02Officer or director changes
  7. 8-K
    Current report· Jul 24, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  8. 8-K
    Current report· Jun 28, 2026(SEC EDGAR)
    • 7.01Regulation FD disclosure
  9. 8-K
    Current report· Jun 17, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  10. 8-K
    Current report· Jun 2, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
All filings on SEC EDGAR
SIC 4813 · Telephone Communications (No Radiotelephone)

Peers (same SIC code)

Peers (same SIC code)
TickerRevenue (FY)YoYNet marginROEF-Score5y revenue
VZVERIZON COMMUNICATIONS INC (This company)$138Bup 2.52%12.4%16.6%—
TAT&T INC.$126Bup 2.71%17.5%17.9%—
Peer median$126Bup 2.71%17.5%17.9%——

Companies with the same 4-digit SIC code, ordered by latest revenue. The median excludes this company. — = not reported or not computable.

Frequently asked questions

What does VERIZON COMMUNICATIONS INC do?

The SEC classifies VERIZON COMMUNICATIONS INC under Standard Industrial Classification (SIC) code 4813, "Telephone Communications (No Radiotelephone)". It is headquartered in New York, NY. It is incorporated in DE. In fiscal 2025 it reported revenue of $138.19B and net income of $17.17B in its annual 10-K report.

What was VERIZON COMMUNICATIONS INC's revenue in 2025?

VERIZON COMMUNICATIONS INC reported revenue of $138.19B for fiscal 2025, which ended Dec 31, 2025, up 2.5% from $134.79B in fiscal 2024, according to its annual 10-K report filed with the SEC on Feb 17, 2026.

What was VERIZON COMMUNICATIONS INC's net income in 2025?

VERIZON COMMUNICATIONS INC reported net income of $17.17B for fiscal 2025, a net margin of 12.4% of revenue.

Where is VERIZON COMMUNICATIONS INC listed?

According to the SEC, VERIZON COMMUNICATIONS INC's ticker VZ is listed on NYSE.

When does VERIZON COMMUNICATIONS INC's fiscal year end?

According to the SEC, VERIZON COMMUNICATIONS INC's fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.

Source: SEC EDGAR · Last updated:

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Not investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.