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Verizon

VZ Clue Score47
United States Fiscal year ends December CIK 0000732712
$41.65 -10.14% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $41.65 −20.18% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue125.98Operating income29.25Net income13.13EPS, diluted3.21Fiscal year 2017Revenue126.03 +0.0%Operating income27.43Net income30.10 +129.3%EPS, diluted7.36 +129.3%Fiscal year 2018Revenue130.86 +3.8%Operating income22.28Net income15.53 −48.4%EPS, diluted3.76 −48.9%Fiscal year 2019Revenue131.87 +0.8%Operating income30.38Net income19.27 +24.1%EPS, diluted4.65 +23.7%Fiscal year 2020Revenue128.29 −2.7%Operating income28.80Net income17.80 −7.6%EPS, diluted4.30 −7.5%Fiscal year 2021Revenue133.61 +4.1%Operating income32.45Net income22.07 +24.0%EPS, diluted5.32 +23.7%Fiscal year 2022Revenue136.84 +2.4%Operating income30.47Net income21.26 −3.7%EPS, diluted5.06 −4.9%Fiscal year 2023Revenue133.97 −2.1%Operating income22.88Net income11.61 −45.4%EPS, diluted2.75 −45.7%Fiscal year 2024Revenue134.79 +0.6%Operating income28.69Net income17.51 +50.7%EPS, diluted4.14 +50.5%Fiscal year 2025Revenue138.19 +2.5%Operating income29.26Net income17.17 −1.9%EPS, diluted4.06 −1.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 125.98 126.03 130.86 131.87 128.29 133.61 136.84 133.97 134.79 138.19
Growth +0.0% +3.8% +0.8% −2.7% +4.1% +2.4% −2.1% +0.6% +2.5%
Operating income 29.25 27.43 22.28 30.38 28.80 32.45 30.47 22.88 28.69 29.26
Net income 13.13 30.10 15.53 19.27 17.80 22.07 21.26 11.61 17.51 17.17
Growth +129.3% −48.4% +24.1% −7.6% +24.0% −3.7% −45.4% +50.7% −1.9%
EPS, diluted 3.21 7.36 3.76 4.65 4.30 5.32 5.06 2.75 4.14 4.06
Growth +129.3% −48.9% +23.7% −7.5% +23.7% −4.9% −45.7% +50.5% −1.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin23.2%Net margin10.4%Free cash flow margin3.7%Fiscal year 2017Operating margin21.8%Net margin23.9%Free cash flow margin5.6%Fiscal year 2018Operating margin17.0%Net margin11.9%Free cash flow margin13.5%Fiscal year 2019Operating margin23.0%Net margin14.6%Fiscal year 2020Operating margin22.4%Net margin13.9%Fiscal year 2021Operating margin24.3%Net margin16.5%Fiscal year 2022Operating margin22.3%Net margin15.5%Fiscal year 2023Operating margin17.1%Net margin8.7%Fiscal year 2024Operating margin21.3%Net margin13.0%Fiscal year 2025Operating margin21.2%Net margin12.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 23.2% 21.8% 17.0% 23.0% 22.4% 24.3% 22.3% 17.1% 21.3% 21.2%
Net margin 10.4% 23.9% 11.9% 14.6% 13.9% 16.5% 15.5% 8.7% 13.0% 12.4%
Free cash flow margin 3.7% 5.6% 13.5% n/a n/a n/a n/a n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow21.69Capital expenditure−17.06Free cash flow4.63Buybacks0.00Dividends paid−9.26Fiscal year 2017Operating cash flow24.32Capital expenditure−17.25Free cash flow7.07 +52.7%Buybacks0.00Dividends paid−9.47Fiscal year 2018Operating cash flow34.34Capital expenditure−16.66Free cash flow17.68 +150.0%Dividends paid−9.77Fiscal year 2019Operating cash flow35.75Dividends paid−10.02Fiscal year 2020Operating cash flow41.77Dividends paid−10.23Fiscal year 2021Operating cash flow39.54Dividends paid−10.45Fiscal year 2022Operating cash flow37.14Dividends paid−10.81Fiscal year 2023Operating cash flow37.48Dividends paid−11.03Fiscal year 2024Operating cash flow36.91Dividends paid−11.25Fiscal year 2025Operating cash flow37.14Dividends paid−11.48
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 21.69 24.32 34.34 35.75 41.77 39.54 37.14 37.48 36.91 37.14
Capital expenditure −17.06 −17.25 −16.66 n/a n/a n/a n/a n/a n/a n/a
Free cash flow 4.63 7.07 17.68 n/a n/a n/a n/a n/a n/a n/a
Growth +52.7% +150.0%
Buybacks 0.00 0.00 n/a n/a n/a n/a n/a n/a n/a n/a
Dividends paid −9.26 −9.47 −9.77 −10.02 −10.23 −10.45 −10.81 −11.03 −11.25 −11.48

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash2.88Shareholders’ equity24.03Fiscal year 2017Cash2.08Shareholders’ equity44.69Fiscal year 2018Cash2.75Shareholders’ equity54.71Fiscal year 2019Cash2.59Total debt10.78Net cash (debt)−8.18Shareholders’ equity62.84Debt to equity0.17Fiscal year 2020Cash22.17Total debt5.89Net cash (debt)16.28Shareholders’ equity69.27Debt to equity0.09Fiscal year 2021Cash2.92Total debt7.44Net cash (debt)−4.52Shareholders’ equity83.20Debt to equity0.09Fiscal year 2022Cash2.61Total debt9.96Net cash (debt)−7.36Shareholders’ equity92.46Debt to equity0.11Fiscal year 2023Cash2.07Total debt12.97Net cash (debt)−10.91Shareholders’ equity93.80Debt to equity0.14Fiscal year 2024Cash4.19Total debt22.63Net cash (debt)−18.44Shareholders’ equity100.58Debt to equity0.23Fiscal year 2025Cash19.05Total debt18.62Net cash (debt)0.43Shareholders’ equity105.74Debt to equity0.18
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 2.88 2.08 2.75 2.59 22.17 2.92 2.61 2.07 4.19 19.05
Total debt n/a n/a n/a 10.78 5.89 7.44 9.96 12.97 22.63 18.62
Net cash (debt) n/a n/a n/a −8.18 16.28 −4.52 −7.36 −10.91 −18.44 0.43
Shareholders’ equity 24.03 44.69 54.71 62.84 69.27 83.20 92.46 93.80 100.58 105.74
Debt to equity n/a n/a n/a 0.17 0.09 0.09 0.11 0.14 0.23 0.18

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
125.98 126.03 130.86 131.87 128.29 133.61 136.84 133.97 134.79 138.19
Growth +0.0% +3.8% +0.8% −2.7% +4.1% +2.4% −2.1% +0.6% +2.5%
28.10 28.59 31.08 29.90 31.57 28.66 30.14 32.75 34.11 33.82
29.25 27.43 22.28 30.38 28.80 32.45 30.47 22.88 28.69 29.26
Growth −6.2% −18.8% +36.4% −5.2% +12.7% −6.1% −24.9% +25.4% +2.0%
20.99 20.59 19.62 22.73 23.97 29.42 28.27 16.99 22.98 22.67
7.38 −9.96 3.58 2.95 5.62 6.80 6.52 4.89 5.03 5.06
13.13 30.10 15.53 19.27 17.80 22.07 21.26 11.61 17.51 17.17
Growth +129.3% −48.4% +24.1% −7.6% +24.0% −3.7% −45.4% +50.7% −1.9%
Per share
3.22 7.37 3.76 4.66 4.30 5.32 5.06 2.76 4.15 4.06
3.21 7.36 3.76 4.65 4.30 5.32 5.06 2.75 4.14 4.06
Growth +129.3% −48.9% +23.7% −7.5% +23.7% −4.9% −45.7% +50.5% −1.9%
4,080 4,084 4,128 4,138 4,140 4,148 4,202 4,211 4,218 4,226
4,086 4,089 4,132 4,140 4,142 4,150 4,204 4,215 4,223 4,231
Growth +0.1% +1.1% +0.2% +0.0% +0.2% +1.3% +0.3% +0.2% +0.2%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 1.5% a year over five years, and earnings per share fell 1.1% a year.
  • The diluted share count rose 2.1% in five years, which is dilution.
  • Operating margin is down 1.3 points on five years ago, at 21.2%.
  • Profitable in every one of the 10 years on file.