COVERAGE / VZ / Communication Services

VERIZON COMMUNICATIONS INC

Telephone Communications (No Radiotelephone)

COVERAGE STATUSACTIVE

DATA THROUGH2025-12-31

RESEARCH REPORTS2

SELECTED FILINGS1

Fundamental matrix

Latest / 2025-12-31 · Prior / 2024-12-31 · USD · Annual periods

Revenue

$138.19bn

Prior / $134.79bn

Change / +2.52%

SOURCE / 2026-02-17

Operating income

$29.26bn

Prior / $28.69bn

Change / +2.00%

SOURCE / 2026-02-17

Net income

$17.17bn

Prior / $17.51bn

Change / -1.90%

SOURCE / 2026-02-17

Diluted EPS

$4.06

Prior / $4.14

Change / -1.93%

SOURCE / 2026-02-17

Free cash flow

Not available

Prior / Not available

Change / Unavailable

SOURCE / 2026-02-17

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

21.17%

Prior / 21.28%

Change / -0.11 pp

SOURCE / 2026-02-17

Return on avg. equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / 2026-02-17

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 138191000000,
    "accn": "0000732712-26-000007",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-17",
    "frame": "CY2025",
    "tag": "us-gaap:Revenues",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 17174000000,
    "accn": "0000732712-26-000007",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-17",
    "tag": "us-gaap:NetIncomeLoss",
    "unit": "USD"
  },
  "operatingIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 29259000000,
    "accn": "0000732712-26-000007",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-17",
    "frame": "CY2025",
    "tag": "us-gaap:OperatingIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 4.06,
    "accn": "0000732712-26-000007",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-17",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 37137000000,
    "accn": "0000732712-26-000007",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-17",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-12-31",
    "val": 404258000000,
    "accn": "0000732712-26-000007",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-17",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "currentAssets": {
    "end": "2025-12-31",
    "val": 56922000000,
    "accn": "0000732712-26-000007",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-17",
    "tag": "us-gaap:AssetsCurrent",
    "unit": "USD"
  },
  "currentLiabilities": {
    "end": "2025-12-31",
    "val": 62370000000,
    "accn": "0000732712-26-000007",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-17",
    "tag": "us-gaap:LiabilitiesCurrent",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-12-31	$138.19bn	$17.17bn	Not available	$4.06
2024-12-31	$134.79bn	$17.51bn	Not available	$4.14
2023-12-31	$133.97bn	$11.61bn	Not available	$2.75
2022-12-31	$136.84bn	$21.26bn	Not available	$5.06

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-12-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	11.90x	Unavailable	16.25x	8
P/S	1.45x	Unavailable	1.93x	3
P/B	Unavailable	Unavailable	6.72x	2
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	Unavailable	Unavailable	4.28%	2

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-06-30 DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 48.33,
  "tradingDate": "2026-09-17",
  "marketCap": 200800285512.66,
  "source": "Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-06-30"
}

Company & operating context

VERIZON COMMUNICATIONS INC is an SEC-reporting issuer listed on NYSE under VZ. Its SEC industry description is Telephone Communications (No Radiotelephone). This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Advertising, subscriptions and connectivity produce very different revenue and cash-flow models.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

10-KFILED / 2026-02-17PERIOD / 2025-12-31

Annual-disclosure reading guide for VZ: Advertising exposure, subscription economics, network investment and cash conversion. Filing metadata only; this note is not a substantive review of the full document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0151VZEarnings Review

VZ: the annual earnings and cash-flow comparison ↗

VERIZON COMMUNICATIONS INC

Research abstract

A two-period review of VZ revenue, profitability and cash conversion; reported revenue growth was 2.52%.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

HR-0152VZCompany Research

VZ: reading the FY2025 financial structure ↗

VERIZON COMMUNICATIONS INC

Research abstract

Annual revenue of USD 138.191 billion and net income of USD 17.174 billion for the period ended 2025-12-31.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Audience migration, content costs, competition, capital intensity and privacy regulation.

Advertising exposure, subscription economics, network investment and cash conversion.

COMMUNICATION SERVICES SYSTEM ↗

Sources & dates

SEC annual filing · 2025-12-31 ↗Source date 2026-02-17
SEC annual filing · 2024-12-31 ↗Source date 2026-02-17
SEC annual filing · 2023-12-31 ↗Source date 2026-02-17
SEC annual filing · 2022-12-31 ↗Source date 2025-02-12
SEC issuer record ↗Source date 2026-09-18