Verizon Communications financials
$46.68−0.85%
Close Sep 28, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $138.19B | $134.79B | $133.97B | $136.84B | $133.61B | $128.29B | $131.87B | $130.86B | $126.03B | $125.98B |
| Gross profit | $81.43B | $80.69B | $79.09B | $77.70B | $77.31B | $77.09B | $77.14B | $75.36B | $72.97B | $73.28B |
| Gross margin | 58.9% | 59.9% | 59.0% | 56.8% | 57.9% | 60.1% | 58.5% | 57.6% | 57.9% | 58.2% |
| Operating income | $29.26B | $28.69B | $22.88B | $30.47B | $32.45B | $28.80B | $30.38B | $22.28B | $27.43B | $29.25B |
| Net income | $17.17B | $17.51B | $11.61B | $21.26B | $22.07B | $17.80B | $19.27B | $15.53B | $30.10B | $13.13B |
| Net margin | 12.4% | 13.0% | 8.7% | 15.5% | 16.5% | 13.9% | 14.6% | 11.9% | 23.9% | 10.4% |
| Diluted EPS | $4.06 | $4.14 | $2.75 | $5.06 | $5.32 | $4.30 | $4.65 | $3.76 | $7.36 | $3.21 |
| EBITDA | $47.61B | $46.58B | $46.34B | $47.57B | $48.65B | $45.52B | $47.25B | $44.27B | $44.38B | $45.18B |
| Operating cash flow | $37.14B | $36.91B | $37.48B | $37.14B | $39.54B | $41.77B | $35.75B | $34.34B | $24.32B | $21.69B |
| Free cash flow | $20.13B | $19.82B | $18.71B | $14.05B | $19.25B | $23.58B | $17.81B | $17.68B | $7.07B | $4.63B |
| Diluted shares | 4,231.0M | 4,223.0M | 4,215.0M | 4,204.0M | 4,150.0M | 4,142.0M | 4,140.0M | 4,132.0M | 4,089.0M | 4,086.0M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $19.05B | $4.19B | $2.06B | $2.60B | $2.92B | $22.17B |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Total debt | $158.15B | $144.01B | $150.67B | $150.64B | $150.87B | $129.06B |
| Total assets | $404.26B | $384.71B | $380.25B | $379.68B | $366.60B | $316.48B |
| Total liabilities | $298.52B | $284.14B | $286.46B | $287.22B | $283.40B | $247.21B |
| Shareholders' equity | $105.74B | $100.58B | $93.80B | $92.46B | $83.20B | $69.27B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology