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Verizon Communications Inc (VZ) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

COMMUNICATION SERVICES · Integrated Telecommunication Services · DATA UPDATED 2026-07-12

Verizon Communications Inc (VZ) operates in the Integrated Telecommunication Services industry and is headquartered in New York, United States with about 89,900 employees. Its market capitalization is roughly $194 billion. In the fiscal year ended 2025-12-31, VZ reported $138.2B in revenue and $17.2B in net income.

Verizon Communications Inc., through its subsidiaries, engages in the provision of communications, technology, information, and streaming products and services to consumers, businesses, and governmental entities worldwide.

Interactive charts & full statements → Open the VZ valuation workbench →

VZ Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$139.1B	$138.2B	$134.8B	$134.0B	$136.8B	$133.6B	$128.3B	$131.9B	$130.9B	$126.0B	$126.0B	$131.6B	$127.1B	$120.5B	$115.8B	$110.9B	$106.6B	$107.8B	$97.4B	$93.5B	$88.2B
Gross Profit	$81.9B	$63.1B	$62.8B	$61.5B	$60.6B	$61.1B	$60.4B	$60.5B	$58.3B	$57.5B	$58.6B	$63.0B	$60.6B	$59.1B	$53.2B	$48.5B	$48.3B	$49.0B	$43.9B	$41.6B	$38.6B
Gross Margin %	58.9%	45.6%	46.6%	45.9%	44.3%	45.7%	47.1%	45.9%	44.5%	45.6%	46.5%	47.9%	47.7%	49.0%	45.9%	43.8%	45.3%	45.4%	45.1%	44.5%	43.8%
Operating Income (EBIT)	$29.5B	$29.3B	$30.6B	$28.8B	$30.5B	$32.0B	$29.9B	$31.0B	$30.0B	$26.5B	$25.9B	$32.8B	$18.9B	$31.7B	$21.0B	$18.8B	$19.0B	$19.5B	$18.1B	$16.7B	$14.2B
Operating Margin %	21.2%	21.2%	22.7%	21.5%	22.3%	23.9%	23.3%	23.5%	22.9%	21.0%	20.6%	24.9%	14.9%	26.3%	18.1%	17.0%	17.8%	18.1%	18.6%	17.9%	16.1%
Net Income	$17.3B	$17.2B	$17.5B	$11.6B	$21.3B	$22.1B	$17.8B	$19.3B	$15.5B	$30.1B	$13.1B	$17.9B	$9.6B	$11.5B	$875M	$2.4B	$2.5B	$3.7B	$6.4B	$5.5B	$6.2B
Net Margin %	12.5%	12.4%	13.0%	8.7%	15.5%	16.5%	13.9%	14.6%	11.9%	23.9%	10.4%	13.6%	7.6%	9.5%	0.8%	2.2%	2.4%	3.4%	6.6%	5.9%	7.0%
EBITDA	$48.6B	$47.7B	$47.5B	$40.1B	$49.0B	$49.1B	$45.0B	$44.1B	$41.9B	$42.3B	$41.3B	$49.2B	$36.7B	$48.5B	$28.9B	$29.8B	$31.5B	$30.9B	$32.3B	$30.8B	$29.1B
Earnings Per Share (EPS)	$4.10	$4.06	$4.15	$2.76	$5.06	$5.32	$4.30	$4.65	$3.76	$7.36	$3.21	$4.37	$2.42	$4.00	$0.31	$0.85	$0.90	$1.29	$2.26	$1.90	$2.11
Shares Outstanding (M)	4,210M	4,231M	4,218M	4,215M	4,204M	4,150M	4,142M	4,140M	4,132M	4,089M	4,086M	4,093M	3,981M	2,874M	2,862M	2,839M	2,833M	2,841M	2,850M	2,902M	2,938M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VZ Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$34.4B	$36.4B	$33.8B	$34.5B	$33.5B	$35.7B	$33.3B	$32.8B
Gross Profit	$20.8B	$29.3B	$15.9B	$16.0B	$15.9B	$15.7B	$15.6B	$15.8B
Gross Margin %	60.3%	80.5%	46.9%	46.3%	47.3%	43.9%	46.9%	48.3%
Operating Income (EBIT)	$8.2B	$5.0B	$8.1B	$8.2B	$8.0B	$7.4B	$7.8B	$7.8B
Operating Margin %	23.9%	13.8%	24.0%	23.7%	23.8%	20.8%	23.5%	23.8%
Net Income	$5.0B	$2.3B	$5.0B	$5.0B	$4.9B	$5.0B	$3.3B	$4.6B
Net Margin %	14.6%	6.4%	14.6%	14.5%	14.6%	14.0%	9.9%	14.0%
EBITDA	$13.6B	$9.3B	$12.8B	$12.9B	$12.7B	$12.7B	$10.4B	$12.2B
Earnings Per Share (EPS)	$1.20	$0.55	$1.17	$1.18	$1.15	$1.19	$0.78	$1.09
Shares Outstanding (M)	4,210M	4,230M	4,233M	4,228M	4,226M	4,222M	4,225M	4,221M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VZ Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$37.3B	$37.1B	$36.9B	$37.5B	$37.1B	$39.5B	$41.8B	$35.7B	$34.3B	$24.3B	$21.7B	$39.0B	$30.6B	$38.8B	$31.5B	$29.8B	$33.4B	$31.4B	$27.5B	$26.8B	$24.1B
Capital Expenditures (CapEx)	$17.3B	$17.0B	$18.0B	$18.8B	$26.7B	$20.3B	$20.3B	$18.8B	$18.1B	$17.8B	$17.6B	$17.8B	$17.5B	$17.2B	$20.1B	$16.2B	$16.5B	$17.0B	$17.2B	$17.5B	$17.1B
Free Cash Flow (FCF)	$20.1B	$20.1B	$18.9B	$18.7B	$10.4B	$19.3B	$21.4B	$16.9B	$16.3B	$6.5B	$4.1B	$21.3B	$13.1B	$21.6B	$11.4B	$13.5B	$16.9B	$14.3B	$10.2B	$9.3B	$7.0B
FCF Margin %	14.4%	14.6%	14.0%	14.0%	7.6%	14.4%	16.7%	12.8%	12.4%	5.1%	3.2%	16.2%	10.3%	17.9%	9.8%	12.2%	15.9%	13.3%	10.5%	10.0%	7.9%
Dividends Paid	$11.5B	$11.5B	$11.2B	$11.0B	$10.8B	$10.4B	$10.2B	$10.0B	$9.8B	$9.5B	$9.3B	$8.5B	$7.8B	$5.9B	$5.2B	$5.6B	$5.4B	$5.3B	$5.0B	$4.8B	$4.7B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VZ Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$8.0B	$9.1B	$11.3B	$9.0B	$7.8B	$10.4B	$9.9B	$9.5B
Capital Expenditures (CapEx)	$4.2B	$4.7B	$4.4B	$3.9B	$4.3B	$5.2B	$4.1B	$3.9B
Free Cash Flow (FCF)	$3.8B	$4.4B	$6.8B	$5.1B	$3.5B	$5.2B	$5.8B	$5.6B
FCF Margin %	11.0%	12.0%	20.2%	14.6%	10.5%	14.6%	17.4%	17.2%
Dividends Paid	$2.9B	$2.9B	$2.9B	$2.9B	$2.9B	$2.9B	$2.8B	$2.8B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VZ Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$417.9B	$404.3B	$384.7B	$380.3B	$379.7B	$366.6B	$316.5B	$291.7B	$264.8B	$257.1B	$244.2B	$244.2B	$232.6B	$274.1B	$225.2B	$230.5B	$220.0B	$226.9B	$202.4B	$187.0B	$188.8B
Cash & Cash Equivalents	$8.4B	$19.0B	$4.2B	$2.1B	$2.6B	$2.9B	$22.2B	$2.6B	$2.7B	$2.1B	$2.9B	$4.5B	$10.6B	$53.5B	$3.1B	$13.4B	$6.7B	$2.0B	$9.8B	$1.2B	$3.2B
Total Liabilities	$313.3B	$298.5B	$284.1B	$286.5B	$287.2B	$283.4B	$247.2B	$228.9B	$210.1B	$212.5B	$220.1B	$226.3B	$218.9B	$178.7B	$139.7B	$144.6B	$133.1B	$142.8B	$123.4B	$104.1B	$111.9B
Total Debt (Short + Long-Term)	$177.2B	$162.7B	$148.4B	$154.9B	$154.8B	$154.7B	$132.5B	$114.0B	$113.1B	$117.1B	$108.1B	$109.7B	$113.3B	$93.6B	$52.0B	$55.2B	$52.8B	$62.3B	$52.0B	$31.2B	$36.4B
Total Shareholders' Equity	$103.3B	$104.5B	$99.2B	$92.4B	$91.1B	$81.8B	$67.8B	$61.4B	$53.1B	$43.1B	$22.5B	$16.4B	$12.3B	$38.8B	$33.2B	$36.0B	$38.6B	$41.4B	$41.7B	$50.6B	$48.5B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive VZ viewer.

Other Companies in Integrated Telecommunication Services

T · AT&T — $165 billion

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