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NYSE · Communication Services

Verizon Communications Inc. (VZ)

As-reported financials and SEC filings for Verizon Communications Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Verizon Communications Inc.

Verizon Communications Inc provides communications, technology, information, and streaming products and services to consumers, businesses, and government entities. Its main offerings include wireless and wireline services such as voice, data, broadband, and video over extensive fiber-optic and wireless networks in the United States. Verizon serves retail consumers, large enterprises, public sector customers, and wholesale carriers through its Consumer and Business segments.

Snapshot

Revenue
$138.19B
Revenue growth (YoY)
2.5%
Net income
$17.17B
Diluted EPS
$4.06
Gross margin
—
Operating margin
21.2%
Net margin
12.4%
FCF margin
—
ROE
16.2%
net income / fiscal-year-end equity
P/E
11.2×
trailing when available, otherwise FY EPS
Market cap
$179.07B
Long-term debt / equity
1.32×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Verizon Communications

  • Revenue grew 2.5% to $138.2B in FY2025, in line with the 0.6% the year before.
  • Operating margin is 21.2% in FY2025, -3.1 pp against 24.3% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $34.3B, down 0.7% from Q2 FY2025.
  • Net income fell 1.9% to $17.2B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Verizon Communications’s fundamentals sit among the 213 Communication Services companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin21.2%
91st percentile of 183
Net margin12.4%
85th percentile of 189
Revenue growth (YoY)+2.5%
48th percentile of 207
ROE16.2%
81st percentile of 162
P/E11.2×
22nd percentile of 79
Long-term debt / equity1.32×
66th percentile of 100
Short interest2.75d
29th percentile of 213

Verizon Communications’s operating margin of 21.2% ranks in the 91st percentile of the 183 Communication Services companies reporting it. Verizon Communications’s net margin of 12.4% ranks in the 85th percentile of the 189 Communication Services companies reporting it.

No reported insider purchases (code P) in the last 90 days; 10 insider sales totaling $525,382. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 5 of the superinvestors we track (plus 4 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
5
+4 quant / multi-strat
Initiated / added
2
0 new, 2 added
Reduced / exited
5
4 trimmed, 1 exited
Combined position
$516.3M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$360.3M8.5MReduced
Citadel AdvisorsquantQ2 2026$76.2M1.8MReduced
Bridgewater AssociatesQ2 2026$41.5M980.5KAdded
Millennium ManagementquantQ2 2026$17.7M418.5KReduced
Gotham Asset ManagementQ2 2026$13.2M312.8KReduced
D. E. ShawquantQ2 2026$4.4M103.3KAdded
Soros Fund ManagementQ2 2026$1.8M43.3KHeld
Yacktman Asset ManagementQ2 2026$846,80020.0KHeld
Dodge & CoxQ2 2026$232,8705.5KHeld

No longer held by: Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
10
$525K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-10-20
filed 2026-10-21
Kyle MaladyEVP and Group CEO-VZ BusinessSell1.1K$44.48$49K
2026-10-13
filed 2026-10-14
Kyle MaladyEVP and Group CEO-VZ BusinessSell1.1K$42.93$47K
2026-10-06
filed 2026-10-07
Kyle MaladyEVP and Group CEO-VZ BusinessSell1.1K$45.75$50K
2026-09-29
filed 2026-09-30
Kyle MaladyEVP and Group CEO-VZ BusinessSell1.1K$46.40$51K
2026-09-22
filed 2026-09-23
Kyle MaladyEVP and Group CEO-VZ BusinessSell1.1K$47.65$52K
2026-09-15
filed 2026-09-16
Kyle MaladyEVP and Group CEO-VZ BusinessSell1.1K$51.19$56K
2026-09-08
filed 2026-09-09
Kyle MaladyEVP and Group CEO-VZ BusinessSell1.1K$49.98$55K
2026-09-01
filed 2026-09-02
Kyle MaladyEVP and Group CEO-VZ BusinessSell1.1K$50.50$56K
2026-08-25
filed 2026-08-26
Kyle MaladyEVP and Group CEO-VZ BusinessSell1.1K$50.06$55K
2026-08-18
filed 2026-08-19
Kyle MaladyEVP and Group CEO-VZ BusinessSell1.1K$48.68$54K
2026-05-29
filed 2026-06-02
Samantha HammockEVP & Chief HR OfficerSell73.1K$47.83$3.5M

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
83.3M
settled 2026-10-15
Change vs prior
-6.3%
vs previous settlement
Days to cover
2.75
at avg daily volume
Avg daily volume
30.4M
FINRA reported
SettlementShares shortChangeDays to cover
2026-10-1583.3M-6.3%2.75
2026-09-3088.9M+5.7%3.72
2026-09-1584.1M+2.0%4.65
2026-08-3182.4M+8.0%4.79
2026-08-1476.4M-8.4%3.72
2026-07-3183.4M-2.7%2.93
2026-07-1585.7M-9.8%2.44
2026-06-3095.0M+5.6%2.64

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$138.19B$134.79B$133.97B$136.84B$133.61B
Gross profit—————
Operating income$29.26B$28.69B$22.88B$30.47B$32.45B
Pre-tax income$22.67B$22.98B$16.99B$28.27B$29.42B
Net income$17.17B$17.51B$11.61B$21.26B$22.07B
Diluted EPS$4.06$4.14$2.75$5.06$5.32

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$19.05B$4.19B$2.06B$2.60B$2.92B
Current assets$56.92B$40.52B$36.81B$37.86B$36.73B
Total assets$404.26B$384.71B$380.25B$379.68B$366.60B
Current liabilities$62.37B$64.77B$53.22B$50.17B$47.16B
Long-term debt$139.53B$121.38B$137.70B$140.68B$143.43B
Total liabilities
Total equity$105.74B$100.58B$93.80B$92.46B$83.20B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$37.14B$36.91B$37.48B$37.14B$39.54B
Capital expenditure—————
Free cash flow—————

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$34.25B-0.7%$3.83B$0.92
Q1 FY2026$34.44B2.9%$5.04B$1.20
Q4 FY20252.0%
Q3 FY2025$33.82B1.5%$4.95B$1.17
Q2 FY2025$34.50B5.2%$5.00B$1.18
Q1 FY2025$33.48B1.5%$4.88B$1.15
Q4 FY20241.6%
Q3 FY2024$33.33B-0.0%$3.31B$0.78

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorCommunication Services
SIC industryTelephone Communications (No Radiotelephone)
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2024
SEC CIK732712

Selected SEC filings

10-K2026-02-17
View on EDGAR →
10-K2025-02-12
View on EDGAR →
10-Q2026-07-31
View on EDGAR →
10-Q2026-05-01
View on EDGAR →
10-Q2025-10-29
View on EDGAR →
10-Q2025-07-25
View on EDGAR →
8-K2026-10-26
View on EDGAR →
8-K2026-09-29
View on EDGAR →

Largest Communication Services peers

All Communication Services companies →

VZ head to head

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.