Verizon (VZ)
Communication Services · $200B market cap · SEC CIK 0000732712
fundamentals score out of 100
Next reports on Oct 22, 2026, with analysts expecting $1.31 in earnings per share.
The case for VZ
- Cheap on earnings at 12.4×, well under the market's usual 20×.
- Pays a 6.1% dividend while you wait.
- Return on equity of 16%.
- Gross margin of 59% absorbs cost shocks.
- Moves less than the market (beta 0.26).
The case against
- Earnings per share fell 10.8%.
- Current liabilities exceed current assets (ratio 0.60).
- Revenue grew only 1.4%, roughly the pace of inflation.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Communication Services companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 80 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 26 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 57 |
| Momentumhow the price has behaved lately | 61 |
| Stabilityhow violently it moves, what it owes and what it pays you | 85 |
- Each factor except momentum is half fixed thresholds, half rank among the 19 Communication Services companies.
Key numbers
| Price / earnings | 12.4× |
|---|---|
| Price / book | 1.70× |
| Price / sales | 1.4× |
| Revenue growth (YoY) | +1.4% |
| EPS growth (YoY) | -10.8% |
| Gross margin | 59% |
| Operating margin | 21% |
| Net margin | 12% |
| Return on equity | 16% |
| Debt / equity | 1.59× |
| Current ratio | 0.60 |
| Dividend yield | 6.14% |
| Beta | 0.26 |
| 52-week range | $38.39 – $51.68 |
| Position in that range | 61% of the way up |
| 3-month return | +5.1% |
| 1-year return | +9.7% |
Five years of financials, as filed
Pulled from Verizon's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $138B | $135B | $134B | $137B | $134B |
| Operating income | $29.3B | $28.7B | $22.9B | $30.5B | $32.4B |
| Net income | $17.6B | $17.9B | $12.1B | $21.7B | $22.6B |
| Operating cash flow | $37.1B | $36.9B | $37.5B | $37.1B | $39.5B |
| Total assets | $404B | $385B | $380B | $380B | $367B |
| Cash | $19.0B | $4.2B | $2.1B | $2.6B | $2.9B |
| Operating margin | 21.2% | 21.3% | 17.1% | 22.3% | 24.3% |
| Net margin | 12.7% | 13.3% | 9.0% | 15.9% | 16.9% |
| Diluted shares | 4.2B | 4.2B | 4.2B | 4.2B | 4.2B |
Share count is essentially flat over 4 years.
What Verizon says it does
Verizon Communications Inc. (the Company) is a holding company that, acting through its subsidiaries (together with the Company, collectively, Verizon), is one of the world’s leading providers of communications, technology, information and streaming products and services to consumers, businesses and government entities. With a presence around the world, we offer data, video and voice services and solutions on our networks and platforms that are designed to meet customers’ demand for mobility, reliable network connectivity and security. We have two reportable segments that we operate and manage as strategic business units - Verizon Consumer Group (Consumer) and Verizon Business Group (Business). Verizon Consumer Group Our Consumer segment provides consumer-focused wireless and wireline communications services and products. Our wireless services are provided across one of the most extensive wireless networks in the United States (U.S.)…
Risk factors VZ lists in its 10-K
- Highlights of Our 2025 Financial Results
- Capital Expenditures and Investments
- Selling, General and Administrative Expense
- Depreciation and Amortization Expense
- Consolidated Net Income, Consolidated EBITDA and Consolidated Adjusted EBITDA
- Wireless retail postpaid connections
- Wireless retail prepaid connections
- Wireless retail connections, net addition
- Wireless retail postpaid connections, net additions
- Wireless retail prepaid connections, net additions
- Wireless retail postpaid phone connections, net additions
- Total broadband connections, net additions
- FWA broadband connections, net additions
- Wireline broadband connections, net additions