— Know what they know.
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Not Investment Advice

VZ

NYSE · USD
Verizon Communications Inc.
Communication Services · Telecommunications Services
CEO Daniel H. Schulman Employees 89,900 R&D / revenue 0.0%
Last price
$44.79+0.88%last session
Market cap
$186.1B
P/E (TTM)
11.7x
From 52w high
−13.3%
From 52w low
+16.7%
1-year return
+11.0%
RSI 14 · vs SMA200
43.9 · −3.7%
IS score
40.7/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

VZ   SPY   XLC (sector ETF) · weekly closes
100110120Jan 26Apr 26Jul 26Oct 26SPY 116VZ 111XLC 97

Score DNA

Each bar is a 0-100 score within the scored universe
52
Profitability
33
Growth
76
Value
64
Momentum
15
Risk (safety)
63
Quality
25
Balance sheet
70
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Congress buying
Warnings
▲ Altman distress zone
Observations
Moat model: Weak, Efficient ScalePiotroski 5 / 9Altman Z 1.2Beta 0.243 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
10 open-market sales, $4.0M
Form 144 notices (12m): 13, $16.0M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
8
Last disclosed purchase 2026-09-25
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−108
173 new holders, 242 closed
3,143 filers hold 71.7% · 1,428 added, 1,257 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+326
1,625 funds adding shares
1,299 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
43.9%
20-day avg 55.0%, 50-day avg 45.9%
Latest 11.1 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$138.2B
Revenue growth YoY+2.5%
Gross margin45.6%
Operating income$29.3B
Operating margin21.2%
Net income$17.2B
Net margin12.4%
EPS (diluted)$4.06
Cash flow
Operating cash flow$37.1B
Capital expenditure$17.0B
Free cash flow$20.1B
FCF conversion (FCF / OCF)54.2%
Stock-based compensation$0
FCF less SBC$20.1B
Buybacks$0
Dividends$11.5B
Balance sheet & returns
Cash & short-term investments$19.0B
Total debt$181.6B
Net debt$162.6B
Shareholders' equity$105.7B
Goodwill & intangibles$33.3B
Debt / equity1.81
ROE (TTM)15.5%
ROIC (TTM)5.8%
Operating margin by fiscal year
24.0%FY202122.3%FY202221.7%FY202322.8%FY202421.2%FY2025
Revenue $133.6B (FY2021) to $138.2B (FY2025), a 0.8% CAGR.

Valuation

P/E (TTM)11.7x
EV / EBITDA7.8x
Price / sales1.34x
Price / FCF9.2x
FCF yield10.83%
Buyback yield0.00%
SBC / revenue0.0%
Price / book1.80x
Forward P/E FY20269.0x
Forward P/E FY20278.5x
Forward P/E FY20288.0x
Forward multiples divide today's price by Street EPS estimates. Street mean target $48.31 across 8 analysts last quarter is theirs, not ours.

VZ vs industry median

234 companies in Telecommunications Services
Gross margin 59.1% 44.4% Operating margin 20.5% 12.0% Net margin 11.6% 5.7% ROIC 5.8% 7.1%
VZ (TTM)Industry median Asset turnover 0.34 vs industry 0.46 · financial leverage 3.95

Earnings delivery

Next report 2026-10-26 · consensus EPS $1.27
83%
beat rate, 10 of 12 quarters
+2.4%
median EPS surprise
6
longest beat streak
+3+1+3+0+1-1+3+3+2+4+6+2
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-24 to 2026-07-24. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
VZ Verizon Communications Inc. $186.1B11.7x15.5%11.6%+2.5% +11.0%
TMUS T-Mobile US, Inc. $170.7B16.6x18.0%14.2%+9.7% −29.4%
T AT&T Inc. $160.6B7.7x19.9%14.7%+2.6% −10.5%
CMCSA Comcast Corporation $77.5B7.1x12.0%11.8%+0.6% −21.1%
SATS EchoStar Corporation $25.1Bn/m-33.4%—−5.2% +20.9%
DIS The Walt Disney Company $190.9B22.7x7.8%10.4%+4.6% —
NFLX Netflix, Inc. $293.7B21.8x49.5%27.1%+16.0% —
DASH DoorDash, Inc. $82.0B97.5x8.9%4.5%+33.6% —
12-month window: SPY +15.9%, sector ETF XLC −3.4%. Past returns describe history only.

Recent 8-K filings

2026-09-29Officer/Director Change
2026-07-24Earnings Release; Exhibits
2026-07-24Officer/Director Change
2026-06-29Regulation FD
2026-06-17Other Events; Exhibits
2026-06-02Other Events; Exhibits

Context

Shares outstanding4,154,780,000
Free float99.9%
Institutional ownership71.7%
Beta0.24
Dividend yield6.28%
Last dividend$0.71 on 2026-10-09
50 / 200-day average$47.88 / $46.60
Large-cap Communication Services median P/E16.1x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where VZ sits among 34 scored companies in Telecommunications Services (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureVZIndustry medianIndustry percentileSector median
P/E (TTM) 11.5x 10.1x
52nd		 16.6x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 1.3x 1.4x
48th		 1.6x
Price / book 1.8x 2.2x
45th		 2.1x
Price / tangible book —
Price / free cash flow 9.1x 9.1x
54th		 10.4x
Price / operating cash flow 4.8x 4.0x
57th		 8.9x
Enterprise value $372.8B $9.1B
100th		 $3.9B
EV / sales 2.7x 2.3x
64th		 2.2x
EV / EBITDA 7.8x 5.8x
69th		 10.0x
EV / EBIT 12.9x 10.3x
58th		 15.8x
EV / free cash flow 18.3x 17.9x
54th		 17.3x
Earnings yield 8.7% 5.9%
64th		 2.4%
FCF yield 10.9% 8.9%
61st		 6.6%
Operating cash flow yield 20.8% 20.0%
52nd		 10.7%
Graham number (per share) $46.62 $39.38
61st		 $31.22

Profitability (TTM)

MeasureVZIndustry medianIndustry percentileSector median
Gross margin 59.1% 53.5%
55th		 51.5%
EBITDA margin 34.5% 29.5%
57th		 18.1%
Operating margin 20.5% 14.7%
71st		 9.7%
EBIT margin 20.8% 14.7%
64th		 9.3%
Net margin 11.6% 6.7%
75th		 5.3%
NOPAT margin 15.7% 9.3%
68th		 7.1%
FCF margin 14.7% 8.0%
75th		 10.5%
Operating cash flow margin 27.9% 26.2%
61st		 17.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 25.0% 25.3%
48th		 26.0%
Stock comp / revenue 0.0% 0.9%
0th		 1.7%
Effective tax rate 23.3% 21.0%
71st		 21.0%

Returns on capital

MeasureVZIndustry medianIndustry percentileSector median
ROE (on average equity) 15.6% 12.0%
53rd		 7.6%
ROA 4.1% 3.9%
52nd		 3.1%
ROIC 7.5% 7.7%
45th		 7.6%
ROCE 8.3% 8.7%
45th		 7.2%
Return on tangible assets 7.3% 7.8%
45th		 5.5%
Cash ROIC (OCF / invested capital) 13.4% 11.3%
53rd		 15.6%
Gross profitability (GP / assets) 20.0% 15.5%
58th		 26.4%
ROIC, 3-yr average 5.3% 5.3%
50th		 4.1%
ROIC, 5-yr average 6.8% 3.7%
81st		 3.7%
ROE, 5-yr average 18.2% 10.6%
86th		 5.0%
Incremental ROIC 40.8% -5.5%
80th		 1.0%

Growth

MeasureVZIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 1.4% 2.6%
40th		 7.2%
Revenue growth (QoQ) -0.5% 0.7%
33rd		 4.0%
Revenue CAGR, 3 yr 1.0% 1.2%
47th		 5.0%
Revenue CAGR, 5 yr 0.9% 0.9%
50th		 7.4%
Gross profit CAGR, 3 yr 10.3% 1.8%
72nd		 6.4%
Operating income CAGR, 3 yr -1.8% 12.3%
25th		 13.7%
Net income growth (TTM YoY) -11.1% -11.1%
50th		 12.6%
Net income CAGR, 3 yr -8.4% 19.8%
11th		 20.1%
EPS growth (TTM YoY) -9.9% -0.0%
38th		 15.5%
EPS CAGR, 3 yr -8.1% 25.1%
11th		 26.6%
EPS CAGR, 5 yr -4.3% 17.2%
0th		 14.4%
FCF growth (TTM YoY) 3.8% 9.0%
35th		 20.6%
FCF CAGR, 3 yr 14.8% 14.8%
50th		 16.7%
Operating cash flow CAGR, 3 yr 1.1% 5.1%
29th		 13.1%
Book value CAGR, 3 yr 3.3% 3.3%
50th		 3.9%
Dividend CAGR, 3 yr 1.1% 3.3%
46th		 4.2%
Sustainable growth rate 4.4% 6.6%
39th		 7.7%

Margin history & stability

MeasureVZIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 50.6% 53.7%
27th		 52.4%
Operating margin, 3-yr average 21.8% 17.4%
71st		 7.5%
Net margin, 3-yr average 11.1% 9.3%
54th		 4.7%
FCF margin, 3-yr average 14.3% 10.6%
59th		 9.7%
Revenue stability (0-1) 0.85 0.60
57th		 0.83
Earnings stability (0-1) 0.28 0.28
50th		 0.30
Margin stability (0-1) 0.88 0.88
57th		 0.88

Liquidity (latest quarter)

MeasureVZIndustry medianIndustry percentileSector median
Cash & short-term investments $1.8B $503.0M
64th		 $479.5M
Net cash (− = net debt) −$186.7B −$2.0B
0th		 −$532.8M
Working capital −$24.6B $59.1M
0th		 $125.0M
Current ratio 0.60 1.08
6th		 1.28
Quick ratio 0.57 1.07
6th		 1.28
Cash ratio (cash + ST investments / current liabilities) 0.03 0.86
0th		 0.70
Defensive interval (days) 193 days 244 days
30th		 395 days

Leverage & solvency (latest quarter)

MeasureVZIndustry medianIndustry percentileSector median
Total debt $188.5B $2.8B
100th		 $1.2B
Debt / equity 1.81 1.00
77th		 0.67
Net debt / equity 1.80 0.72
77th		 0.37
Debt / assets 45.9% 37.4%
73rd		 30.9%
Debt / capital 64.5% 49.9%
77th		 40.7%
Debt / EBITDA 3.93 3.03
62nd		 3.03
Net debt / EBITDA 3.89 2.50
76th		 1.41
Interest coverage (EBIT / interest) 3.9x 3.3x
55th		 3.2x
Cash interest coverage 5.3x 3.1x
68th		 5.5x
Debt payback (years of OCF) 4.9 yrs 4.9 yrs
50th		 2.8 yrs
Liabilities / assets 74.4% 62.3%
73rd		 56.1%
IS credit model rating B+ — —
Implied credit spread (bps) 650 400
73rd		 400

Efficiency

MeasureVZIndustry medianIndustry percentileSector median
Asset turnover 0.35 0.35
52nd		 0.52
Fixed asset turnover 0.93 0.94
48th		 3.99
Inventory turnover 27.2 11.0
74th		 23.8
Receivables turnover 5.3 9.0
21st		 8.1
Days sales outstanding 69 days 41 days
79th		 44 days
Days inventory outstanding 13 days 34 days
26th		 15 days
Days payables outstanding 129 days 86 days
69th		 57 days
Cash conversion cycle (days) −47 days −29 days
25th		 1 days
Capex / revenue 13.3% 13.3%
50th		 3.5%
Capex / depreciation 0.97 1.08
43rd		 0.60
Operating expense ratio 26.2% 52.5%
11th		 45.3%

Cash flow & earnings quality

MeasureVZIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.40 2.13
52nd		 2.40
FCF / net income 1.26 0.82
61st		 1.69
FCF / operating cash flow 52.5% 44.2%
70th		 72.9%
Capex / operating cash flow 47.5% 55.8%
30th		 27.1%
Accruals ratio -5.7% -8.0%
58th		 -8.0%
Sloan accruals ratio -5.4% -5.3%
48th		 -5.6%
Earnings quality score (0-1) 0.75 0.75
35th		 0.75

Dividends & buybacks

MeasureVZIndustry medianIndustry percentileSector median
Dividend yield 6.3% 0.7%
85th		 0.0%
Dividend per share (TTM) $2.81 $0.10
76th		 $0.00
Payout ratio (dividends / net income) 71.9% 34.9%
74th		 5.7%
Dividends / FCF 57.2% 0.0%
96th		 0.0%
Dividend growth (YoY) 3.8% 1.5%
64th		 3.2%
Buyback yield 1.9% 1.2%
64th		 1.7%
Shareholder yield (dividends + buybacks) 8.1% 3.5%
76th		 3.5%
Share count change (YoY) -1.3% -1.5%
53rd		 -0.8%
Buybacks, last 5 years $6.0B $293.2M
82nd		 $152.3M

Scores & forensic checks

MeasureVZIndustry medianIndustry percentileSector median
IS score 41 37
58th		 44
IS profitability 52 54
45th		 36
IS growth 33 52
17th		 56
IS value 76 54
67th		 44
IS momentum 64 61
60th		 66
IS risk (safety) 15 15
3rd		 30
IS quality 63 54
64th		 58
IS balance sheet 25 42
18th		 48
IS earnings quality 70 58
70th		 58
IS cash flow 56 47
70th		 56
Piotroski F-score (0-9) 5 5
33rd		 5
Altman Z-score 1.2 1.1
55th		 1.7
Beneish M-score −2.75 −2.92
73rd		 −2.74
Ohlson O-score −7.80 −7.21
39th		 −7.27
IS credit score 34 47
27th		 49

Per share

MeasureVZIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $3.88 $3.09
73rd		 $0.86
Book value per share $24.91 $15.29
64th		 $14.63
Tangible book per share −$23.02 −$0.79
9th		 $1.25
Revenue per share $33.30 $18.32
76th		 $17.81
FCF per share $4.88 $1.93
82nd		 $1.98
Operating cash flow per share $9.30 $4.13
88th		 $2.77
Cash per share $0.42 $4.51
0th		 $3.75

Size (TTM)

MeasureVZIndustry medianIndustry percentileSector median
Market cap $186.1B $2.9B
100th		 $2.7B
Revenue $138.9B $1.3B
100th		 $1.8B
EBITDA $48.0B $888.2M
94th		 $326.9M
Net income $16.2B $89.9M
94th		 $65.3M
Free cash flow $20.4B $178.1M
94th		 $211.5M
Total assets $410.2B $7.1B
94th		 $3.6B
Shareholders' equity $103.9B $1.4B
94th		 $1.1B
Employees 89,900 5,284
88th		 3,872

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-13Malady Kyle
EVP and Group CEO-VZ Business
 Open-market sale 1,100$42.93$47,223101,066
2026-10-08Schulman Daniel H
Director, CEO
 Award / grant 201——9,807
2026-10-08Villanueva Rodriguez Alfonso
EVP and Group CEO-VZ Consumer
 Award / grant 131——7,599
2026-10-08Venkatesh Vandana
EVP and Chief Legal Officer
 Award / grant 96——58,211
2026-10-08Stillwell Mary-Lee
SVP and Controller
 Award / grant 44——17,231
2026-10-08Skiadas Anthony T
EVP and CFO
 Award / grant 131——147,372
2026-10-08Russo Joseph J.
EVP&Pres-Global Networks&Tech
 Award / grant 83——85,116
2026-10-08Malady Kyle
EVP and Group CEO-VZ Business
 Award / grant 131——424,644
2026-10-06Malady Kyle
EVP and Group CEO-VZ Business
 Open-market sale 1,100$45.75$50,325102,166
2026-09-29Malady Kyle
EVP and Group CEO-VZ Business
 Open-market sale 1,100$46.40$51,040103,266
2026-09-25Phillips Jr Charles E
Director
 Award / grant 1,770——1,770
2026-09-24Villanueva Rodriguez Alfonso
EVP and Group CEO-VZ Consumer
 Award / grant 129——7,468

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired10260,861—
Open-market saleDisposed1082,969$4.0M
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 13 notices · 326,118 shares · $16.0M
FiledFilerShares proposedEst. proceeds
2026-10-13Malady Kyle1,100$47,223
2026-10-06Malady Kyle1,100$50,325
2026-09-29Malady Kyle1,100$51,040
2026-09-22Malady Kyle1,100$52,415
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 44 trades (20 purchases) · Senate 7 (5 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHousePurchase$15,001 - $50,0002026-10-09
2026-09-18Gilbert CisnerosHousePurchase$1,001 - $15,0002026-10-13
2026-09-18Gilbert CisnerosHousePurchase$1,001 - $15,0002026-10-12
2026-09-15Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-21
2026-02-23Sheldon WhitehouseSenateSale$1,001 - $15,0002026-03-06
2026-02-23Sheldon WhitehouseSenateSale (Full)$1,001 - $15,0002026-03-05
2025-12-12Gary PetersSenatePurchase$1,001 - $15,0002026-01-07
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.398,216,158$16.9B9.58%
VANGUARD CAPITAL MANAGEMENT LLC258,996,106$11.0B6.23%
STATE STREET CORP209,676,274$8.9B5.05%
GEODE CAPITAL MANAGEMENT, LLC106,820,018$4.5B2.57%
VANGUARD PORTFOLIO MANAGEMENT LLC77,434,092$3.3B1.86%
BANK OF AMERICA CORP /DE/60,860,766$2.6B1.46%
NORGES BANK54,307,400$2.3B1.31%
GOLDMAN SACHS GROUP INC38,103,828$1.6B0.92%
GQG Partners LLC35,877,241$1.5B0.86%
JPMORGAN CHASE & CO35,409,947$1.6B0.85%
NORTHERN TRUST CORP34,373,815$1.5B0.83%
MORGAN STANLEY33,691,543$1.4B0.81%
DIMENSIONAL FUND ADVISORS LP33,633,551$1.4B0.81%
RAYMOND JAMES FINANCIAL INC31,692,986$1.3B0.76%
Bank of New York Mellon Corp29,948,068$1.3B0.72%

Institutional ownership by quarter

2023-092026-0671.7%
% of shares held by 13F filers
2023-092026-063,143
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-303,14371.7%1731,4281,257242
2026-03-313,25166.7%3481,3181,324129
2025-12-313,08467.4%3481,1101,424199
2025-09-303,01166.2%1811,4121,159129
2025-06-303,01567.0%1661,4281,192133
2025-03-313,02466.6%2341,3121,267178
2024-12-313,02164.9%3831,1241,319187
2024-09-302,87464.0%1861,2371,218138
2024-06-302,85763.3%1821,2291,213122
2024-03-312,83763.4%2071,2371,197130
2023-12-312,79762.6%3788901,392112
2023-09-302,57961.5%1381,0121,270254

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-30SCHEDULE 13GVanguard Capital Management7.2%302,904,960
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-11-10SCHEDULE 13GSTATE STREET CORPORATION5.1%215,538,375
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.26%$6.0B
VTI0.26%$6.0B
VTSAX0.26%$6.0B
VSMPX0.26%$6.0B
VFFSX0.29%$5.0B
VFIAX0.29%$5.0B

Share structure

Shares outstanding4,154,780,000
Float4,152,490,716
Free float99.9%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$133.6B$136.8B$134.0B$134.8B$138.2B
Cost of revenue$72.5B$76.2B$72.5B$72.0B$75.1B
Gross profit$61.1B$60.6B$61.5B$62.8B$63.1B
R&D$0$0$0$0$0
SG&A$29.1B$30.1B$32.6B$32.2B$33.8B
Operating income$32.0B$30.5B$28.8B$30.6B$29.3B
EBITDA$49.1B$49.0B$40.1B$47.5B$47.7B
Pretax income$29.4B$28.3B$17.0B$23.0B$22.7B
Income tax$6.8B$6.5B$4.9B$5.0B$5.1B
Net income$22.1B$21.3B$11.6B$17.5B$17.2B
EPS, diluted$5.32$5.06$2.75$4.15$4.06
Diluted shares4.2B4.2B4.2B4.2B4.2B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$2.9B$2.6B$2.1B$4.2B$19.0B
Receivables$23.8B$24.5B$25.1B$26.1B$28.3B
Inventory$3.1B$2.4B$2.1B$2.2B$2.4B
Total current assets$36.7B$37.9B$36.8B$40.5B$56.9B
PP&E, net$127.6B$133.6B$133.0B$133.0B$133.0B
Goodwill & intangibles$187.9B$189.9B$189.6B$190.6B$33.3B
Total assets$366.6B$379.7B$380.3B$384.7B$404.3B
Accounts payable$8.0B$8.8B$10.0B$10.4B$25.0B
Total current liabilities$47.2B$50.2B$53.2B$64.8B$62.4B
Long-term debt$143.4B$140.7B$137.7B$121.4B$158.5B
Total liabilities$283.4B$287.2B$286.5B$284.1B$298.5B
Shareholders' equity$83.2B$92.5B$93.8B$100.6B$105.7B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$22.6B$21.7B$12.1B$17.9B$17.2B
Depreciation & amortization$16.2B$17.1B$17.6B$17.9B$18.3B
Stock-based compensation$0$609.0M$0$0$0
Change in working capital−$890.0M−$456.0M−$267.0M−$2.3B−$2.3B
Operating cash flow$39.5B$37.1B$37.5B$36.9B$37.1B
Capital expenditure−$20.3B−$26.7B−$18.8B−$18.0B−$17.0B
Free cash flow$19.3B$10.4B$18.7B$18.9B$20.1B
Investing cash flow−$67.2B−$28.7B−$23.4B−$18.7B−$16.7B
Net debt issued / repaid$22.6B$4.3B−$2.2B−$4.8B$7.8B
Buybacks$0$0$0$0$0
Dividends paid−$10.4B−$10.8B−$11.0B−$11.2B−$11.5B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin45.7%44.3%45.9%46.6%55.7%
Operating margin24.0%22.3%21.7%22.8%21.2%
Net margin16.5%15.5%8.7%13.0%12.4%
FCF margin-21.2%7.6%14.0%14.0%14.3%
ROE29.5%24.6%12.7%18.3%16.9%
ROIC9.6%8.8%7.8%9.1%7.9%
ROA6.5%5.7%3.1%4.6%4.4%
Debt / equity2.181.931.891.701.92
Interest coverage9.4x8.8x4.1x4.5x4.4x
Current ratio0.780.750.690.630.91
Revenue growth+4.1%+2.4%−2.1%+0.6%+2.5%
EPS growth+23.2%−4.5%−45.5%+50.5%−2.1%
P/E at year end7.6x6.4x12.0x9.0x9.9x
EV / EBITDA at year end7.0x6.3x7.8x6.8x7.4x
FCF yield at year end-16.89%7.68%13.42%11.98%11.68%
Dividend payout47.3%50.8%94.9%64.3%66.9%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Verizon Consumer Group$95.3B$103.5B$101.6B$102.9B$106.8B
Verizon Business Group$31.0B$31.1B$30.1B$29.5B$29.1B
Corporate And Other$7.7B$2.5B$2.5B$2.6B—

Street estimates by fiscal year

Next report 2026-10-26 · consensus EPS $1.27 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$140.7B$139.4B – $142.0B$5.00$4.96 – $5.18139.0x
2027$143.3B$140.3B – $144.8B$5.25$5.10 – $5.47148.5x
2028$144.6B$140.9B – $148.5B$5.62$5.04 – $5.9978.0x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-24$1.27$1.30+2.4%$35.2B$34.3B−2.6%
2026-04-27$1.21$1.28+5.8%$34.8B$34.4B−1.2%
2026-01-30$1.05$1.09+3.8%$36.1B$36.4B+0.9%
2025-10-29$1.19$1.21+1.7%$34.3B$33.8B−1.3%
2025-07-21$1.19$1.22+2.5%$33.7B$34.5B+2.3%
2025-04-22$1.15$1.19+3.5%$33.3B$33.5B+0.6%
2025-01-24$1.11$1.10−0.9%$35.3B$35.7B+1.0%
2024-10-22$1.18$1.19+0.8%$33.4B$33.3B−0.3%
2024-07-22$1.15$1.150.0%$33.0B$32.8B−0.8%
2024-04-22$1.12$1.15+2.7%$33.2B$33.0B−0.8%
2024-01-23$1.07$1.08+0.9%$34.6B$35.1B+1.6%
2023-10-24$1.18$1.22+3.4%$33.3B$33.3B+0.3%
2023-07-25$1.17$1.21+3.4%$33.3B$32.6B−2.1%
2023-04-25$1.20$1.200.0%$33.6B$32.9B−2.0%
2023-01-24$1.19$1.190.0%$35.1B$35.3B+0.5%
2022-10-21$1.29$1.32+2.3%$33.8B$34.2B+1.4%
2022-07-22$1.32$1.31−0.8%$33.7B$33.8B+0.2%
2022-04-22$1.35$1.350.0%$33.6B$33.6B−0.2%
2022-01-25$1.28$1.31+2.3%$33.2B$34.1B+2.7%
2021-10-20$1.36$1.41+3.7%$33.7B$32.9B−2.5%
2021-07-21$1.30$1.37+5.4%$33.7B$33.8B+0.1%
2021-04-21$1.29$1.31+1.6%$32.4B$32.9B+1.6%
2021-01-26$1.17$1.21+3.4%$33.5B$34.7B+3.5%
2020-10-21$1.22$1.25+2.5%$30.8B$31.5B+2.5%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.906-150.906-221.606-291.207-061.007-131.407-201.607-271.108-030.608-100.608-170.708-240.808-31
Week ofNotionalSharesTrades
2026-08-31$783.1M15,541,779172,944
2026-08-24$661.5M13,219,091169,438
2026-08-17$584.1M11,927,472165,717
2026-08-10$594.6M12,553,657172,925
2026-08-03$1.1B23,165,939244,881
2026-07-27$1.6B32,872,237306,202

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1543.9%
DateShort shareShort volumeTotal volume
2026-10-1543.9%4,510,91810,273,501
2026-10-1453.3%5,613,67210,537,538
2026-10-1349.5%5,303,71510,711,932
2026-10-1242.2%4,990,40611,836,800
2026-10-0958.7%23,497,90940,049,379
2026-10-0853.1%4,214,5667,936,104
2026-10-0760.9%3,727,0316,114,970
2026-10-0654.5%4,320,0307,920,086
2026-10-0561.6%4,307,6346,991,030
2026-10-0260.9%3,836,4566,304,519
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-0.6Jan-0.2Feb+1.9Mar+0.1Apr-0.2May+1.1Jun+1.0Jul-0.1Aug+0.2Sep+0.8Oct+2.3Nov+1.6Dec
MonthAvg returnUp yearsYears
Jan−0.6%35%20
Feb−0.2%55%20
Mar+1.9%67%21
Apr+0.1%45%20
May−0.2%40%20
Jun+1.1%55%20
Jul+1.0%55%20
Aug−0.1%45%20
Sep+0.2%65%20
Oct+0.8%55%20
Nov+2.3%60%20
Dec+1.6%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1443.9
MFI54.6
ADX36.4
Stochastic %K / %D66.8 / 56.5
Williams %R-26.4
CCI-30
TSI / signal-27.4 / -27.6
Chaikin money flow-0.06
ATR$1.12
Bollinger width11.9%
Volume vs 20-day avg0.59x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$45.16 (−0.8%)
SMA 50$47.68 (−6.1%)
SMA 200$46.50 (−3.7%)
EMA 21$45.39 (−1.3%)
EMA 50$46.47 (−3.6%)
EMA 200$45.92 (−2.5%)
Bollinger upper$47.85 (−6.4%)
Bollinger lower$42.47 (+5.5%)
Parabolic SAR$41.07 (+9.1%)
Open the live chart, 110+ indicators

About Verizon Communications Inc.

Verizon Communications Inc. operates as a prominent global provider of diverse communication, technology, information, and entertainment solutions, catering to individuals, enterprises, and government entities worldwide through its various divisions. Its Consumer segment focuses on individual customers, supplying a broad spectrum of mobile service options, including both subscription-based (postpaid) and pay-as-you-go (prepaid) plans. This segment also facilitates internet access for portable devices such as laptop computers and tablets, and offers a variety of wireless hardware, ranging from smartphones and traditional mobile handsets to advanced wireless-enabled gadgets like tablets and smartwatches. Additionally, it delivers essential residential fixed connectivity services, which encompass internet, television, and voice communication. Verizon also extends its network capabilities by providing access to mobile virtual network operators. As of December 31, 2021, this segment reported approximately 115 million wireless retail connections, 7 million wireline broadband connections, and 4 million Fios video connections. The company's Business segment is dedicated to providing enterprise-level solutions. It offers comprehensive network connectivity products, including private networking, private cloud integration, virtual and software-defined networking, and high-speed internet access services. This segment further delivers sophisticated internet protocol-based voice and video communication tools, unified communications and collaboration platforms, and specialized customer contact center solutions. Beyond core connectivity, it provides a suite of managed services and data security offerings. Its extensive portfolio also covers domestic and international voice and data services, such as calling, messaging, conferencing, advanced contact center functionalities, and dedicated private line and data access networks. Moreover, the Business segment furnishes customer premises equipment, along with essential installation, maintenance, and on-site support services, and a wide array of Internet of Things (IoT) products and services. By December 31, 2021, this segment had approximately 27 million wireless retail postpaid connections and 477 thousand wireline broadband connections. Verizon Communications Inc. was incorporated in 1983 and holds its corporate headquarters in New York, New York. The company, which was originally known as Bell Atlantic Corporation, officially adopted its current name in June 2000.

https://www.verizon.com

Key executives

NameTitlePayBorn
Hans Erik VestbergSpecial Adviser$6.2M1965
Kyle MaladyExecutive Vice President & Chief Executive Officer of Verizon Business Group$3.0M1968
Anthony T. SkiadasExecutive Vice President & Chief Financial Officer$3.0M1969
Daniel H. SchulmanDirector & Chief Executive Officer$2.9M1958
Vandana VenkateshExecutive Vice President & Chief Legal Officer$2.4M1972
Colleen OstrowskiSenior Vice President of Investor Relations—1974
Kathleen GrilloSenior Vice President and Deputy General Counsel of Public Policy & Government Affairs——
Leslie BerlandExecutive Vice President & Chief Marketing Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Daniel Schulman Chief Executive Officer2025$375,000$32.8M$937,500$34.3M
Hans Vestberg Former Chairman and Chief Executive Officer2025$1.5M$25.0M$3.8M$31.2M
Sowmyanarayan Sampath Former Executive Vice President and Group CEO – Verizon Consumer2025$1.2M$15.0M$2.4M$18.9M
Anthony Skiadas Executive Vice President and Chief Financial Officer2025$1.1M$13.0M$1.6M$16.0M
Kyle Malady Executive Vice President and Group CEO – Verizon Business2025$1.1M$9.8M$1.6M$12.8M
Vandana Venkatesh Executive Vice President and Chief Legal Officer2025$900,000$5.0M$1.4M$7.4M

Employees

144k2018135k2019132k2020118k2021117k2022105k2023100k202490k2025

Dividends

Ex-dateAmountPaid
2026-10-09$0.70752026-11-02
2026-07-10$0.70752026-08-03
2026-04-10$0.70752026-05-01
2026-01-12$0.692026-02-02
2025-10-10$0.692025-11-03
2025-07-10$0.67752025-08-01
2025-04-10$0.67752025-05-01
2025-01-10$0.67752025-02-03

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage46
Intangibles47
Switching costs53
Network effect45
Efficient scale68
Our component scores (0-100) and overall 51.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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