VZ (Verizon Communications Inc.) Stock Financials & Earnings

Company Info & Key Metrics

Communication Services Telecommunications Services

Verizon Communications Inc., through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities world...

CEODaniel H. Schulman

Country🇺🇸 United States

ExchangeNYSE

IPONov 21, 1983

www.verizon.com

Revenue$36.4B

YoY Growth+2.0%

QoQ Growth+7.6%

Net Income$2.3B

EPS$0.55

Free Cash Flow$4.4B

Gross Margin80.5%

Op. Margin13.8%

Net Margin6.4%

FCF Margin12.0%

Rev Multiple (TTM)1.5x

P/E Ratio (TTM)12.4x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$32.9B	$15.1B	$7.6B
Q2 23	$32.6B	$15.5B	$7.5B
Q3 23	$33.3B	$15.5B	$7.6B
Q4 23	$35.1B	$15.4B	$6.4B
Q1 24	$33.0B	$15.7B	$7.6B
Q2 24	$32.8B	$15.8B	$7.8B
Q3 24	$33.3B	$15.6B	$7.8B
Q4 24	$35.7B	$15.7B	$7.4B
Q1 25	$33.5B	$15.9B	$8.0B
Q2 25	$34.5B	$16.0B	$8.2B
Q3 25	$33.8B	$15.9B	$8.1B
Q4 25	$36.4B	$29.3B	$5.0B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	1.6x	9.9x
Q2 23	1.6x	10.1x
Q3 23	1.6x	10.2x
Q4 23	1.6x	18.3x
Q1 24	1.6x	18.8x
Q2 24	1.6x	18.9x
Q3 24	1.6x	21.7x
Q4 24	1.6x	12.1x
Q1 25	1.6x	12.0x
Q2 25	1.6x	11.7x
Q3 25	1.5x	10.7x
Q4 25	1.5x	12.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$8.3B	$2.3B
Q2 23	$9.7B	$5.6B
Q3 23	$10.8B	$6.7B
Q4 23	$8.7B	$4.1B
Q1 24	$7.1B	$2.3B
Q2 24	$9.5B	$5.6B
Q3 24	$9.9B	$5.8B
Q4 24	$10.4B	$5.2B
Q1 25	$7.8B	$3.5B
Q2 25	$9.0B	$5.1B
Q3 25	$11.3B	$6.8B
Q4 25	$9.1B	$4.4B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$6.0B
Q2 23	$4.1B
Q3 23	$4.1B
Q4 23	$4.6B
Q1 24	$4.8B
Q2 24	$3.9B
Q3 24	$4.1B
Q4 24	$5.2B
Q1 25	$4.3B
Q2 25	$3.9B
Q3 25	$4.4B
Q4 25	$4.7B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-1.9%	-1.7%
Q2 23	-3.5%	-4.2%
Q3 23	-2.6%	-2.3%
Q4 23	-0.3%	+2.4%
Q1 24	+0.2%	+0.1%
Q2 24	+0.6%	-0.6%
Q3 24	-0.0%	-1.0%
Q4 24	+1.6%	-1.5%
Q1 25	+1.5%	+0.6%
Q2 25	+5.2%	+5.4%
Q3 25	+1.5%	+0.9%
Q4 25	+2.0%	+11.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 23	$7.5B
Q2 23	$8.0B
Q3 23	$7.9B
Q4 23	$9.0B
Q1 24	$8.0B
Q2 24	$8.0B
Q3 24	$7.8B
Q4 24	$8.2B
Q1 25	$7.9B
Q2 25	$7.8B
Q3 25	$7.8B
Q4 25	$10.4B

Revenue Segments

Quarter	Verizon Business Group	Verizon Consumer Group
Q1 23	$7.5B	$24.9B
Q2 23	$7.5B	$24.6B
Q3 23	$7.5B	$25.3B
Q4 23	$7.6B	$27.0B
Q1 24	$7.4B	$25.1B
Q2 24	$7.3B	$24.9B
Q3 24	$7.4B	$25.4B
Q4 24	$7.5B	$27.6B
Q1 25	$7.3B	$25.6B
Q2 25	$7.3B	$26.6B
Q3 25	$7.1B	$26.1B
Q4 25	$7.4B	$28.4B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$2.2B	$0	$2.2B
Q2 23	$4.8B	$0	$4.8B
Q3 23	$4.2B	$0	$4.2B
Q4 23	$2.1B	$0	$2.1B
Q1 24	$2.4B	$0	$2.4B
Q2 24	$2.4B	$0	$2.4B
Q3 24	$5.0B	$0	$5.0B
Q4 24	$4.2B	$0	$4.2B
Q1 25	$2.3B	$26M	$2.3B
Q2 25	$3.4B	$27M	$3.5B
Q3 25	$7.7B	$0	$7.7B
Q4 25	$19.0B	$0	$19.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	4.21B	+0.1%
Q2 23	4.21B	+0.0%
Q3 23	4.22B	+0.1%
Q4 23	4.21B	-0.0%
Q1 24	4.22B	+0.1%
Q2 24	4.22B	+0.0%
Q3 24	4.22B	+0.1%
Q4 24	4.22B	-0.1%
Q1 25	4.23B	+0.1%
Q2 25	4.23B	+0.0%
Q3 25	4.23B	+0.1%
Q4 25	4.23B	-0.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$717K	177K
FY 15	$741K	178K
FY 16	$783K	161K
FY 17	$811K	155K
FY 18	$906K	145K
FY 19	$977K	135K
FY 20	$970K	132K
FY 21	$1M	118K
FY 22	$1M	117K
FY 23	$1M	105K
FY 24	$1M	100K
FY 25	$2M	90K