Verizon Communications Inc.

EDGAR

Annual consolidated revenue for 2025: about USD 138.2B, using the latest reported figures. The previous period, 2024, was about USD 134.8B.

Watchlist

Latest quarter

Revenue

34.3 billion USD

2026 Q3 · USD

Exact inputs and evidence
  • Revenue: 34313000000 USD Source

Operating margin

25.21%

2026 Q3 · %

Exact inputs and evidence
  • Operating Income: 8650000000 USD Source
  • Revenue: 34313000000 USD Source

Operating cash flow

11.5 billion USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 29936000000 USD Source
  • Operating Cash Flow: 18419000000 USD Source
Cash and cash equivalents
4.5 billion USD Source
Exact value

4495000000 USD

Long-term debt including current maturities
Not available
Shares outstanding
Not available

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

139 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Revenue: 138191000000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 101810000000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 34440000000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 34253000000 USD · 2026-04-01 – 2026-06-30 Source
  • Revenue: 34313000000 USD · 2026-07-01 – 2026-09-30 Source

Net income

16.4 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Net income: 17174000000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 14832000000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 5045000000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 3835000000 USD · 2026-04-01 – 2026-06-30 Source
  • Net income: 5198000000 USD · 2026-07-01 – 2026-09-30 Source

Operating cash flow

39.1 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 37137000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 28023000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 7984000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 18419000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 7984000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 29936000000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 18419000000 USD · 2026-01-01 – 2026-06-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-29.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • capital expenditure: No compatible figures in this window
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • liabilities: No compatible figures in this window
  • Current assets: 11 of 11 periods available· newest 2025-12-31
  • Current liabilities: 11 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
  • long term debt: No compatible figures in this window
  • shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +2.5%

    Prior period

    USD 134.79 billion

    –

    Current period

    USD 138.19 billion

    –

    Exact inputs and evidence

    138191000000 − 134788000000 = 3403000000 USD

    134788000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    138191000000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    -1.9%

    Prior period

    USD 17.51 billion

    –

    Current period

    USD 17.17 billion

    –

    Exact inputs and evidence

    17174000000 − 17506000000 = -332000000 USD

    17506000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    17174000000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    +0.6%

    Prior period

    USD 36.91 billion

    –

    Current period

    USD 37.14 billion

    –

    Exact inputs and evidence

    37137000000 − 36912000000 = 225000000 USD

    36912000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    37137000000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 138.19 billion 100% of revenue
  • Operating costs Derived USD 108.93 billion 79% of revenue
  • Operating income USD 29.26 billion 21% of revenue
  • Tax, interest and other Derived USD 12.09 billion 8.7% of revenue
  • Net income USD 17.17 billion 12% of revenue

Cash

  • Operating cash flow USD 37.14 billion 27% of revenue
  • Capital expenditure Unavailable An input is unavailable.
  • Free cash flow Derived Unavailable An input is unavailable.

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 10%13%77%
  • 2017 Net income was higher than operating income, so the split is not drawn.
  • 2018 12%83%
  • 2019 15%77%
  • 2020 14%78%
  • 2021 17%76%
  • 2022 16%78%
  • 2023 83%
  • 2024 13%79%
  • 2025 12%79%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-31125980000000 96731000000 Derived 29249000000 16122000000 Derived 13127000000 Unavailable
Source
2017 2017-01-01 – 2017-12-31126034000000 98609000000 Derived 27425000000 -2676000000 Derived 30101000000 Unavailable
Source
2018 2018-01-01 – 2018-12-31130863000000 108585000000 Derived 22278000000 6750000000 Derived 15528000000 Unavailable
Source
2019 2019-01-01 – 2019-12-31131868000000 101490000000 Derived 30378000000 11113000000 Derived 19265000000 Unavailable
Source
2020 2020-01-01 – 2020-12-31128292000000 99494000000 Derived 28798000000 10997000000 Derived 17801000000 Unavailable
Source
2021 2021-01-01 – 2021-12-31133613000000 101165000000 Derived 32448000000 10383000000 Derived 22065000000 Unavailable
Source
2022 2022-01-01 – 2022-12-31136835000000 106368000000 Derived 30467000000 9211000000 Derived 21256000000 Unavailable
Source
2023 2023-01-01 – 2023-12-31133974000000 111097000000 Derived 22877000000 11263000000 Derived 11614000000 Unavailable
Source
2024 2024-01-01 – 2024-12-31134788000000 106102000000 Derived 28686000000 11180000000 Derived 17506000000 Unavailable
Source
2025 2025-01-01 – 2025-12-31138191000000 108932000000 Derived 29259000000 12085000000 Derived 17174000000 Unavailable
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 138.2B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.149.2B111.9B74.6B37.3B0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue125980000000
2017Revenue126034000000
2018Revenue130863000000
2019Revenue131868000000
2020Revenue128292000000
2021Revenue133613000000
2022Revenue136835000000
2023Revenue133974000000
2024Revenue134788000000
2025Revenue138191000000

Revenue growth

Change in revenue from the same financial period one year earlier.

2.5% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4.8%2.4%-0.1%-2.5%-5.0%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over year-4.3%
2017Year over year0%
2018Year over year3.8%
2019Year over year0.8%
2020Year over year-2.7%
2021Year over year4.1%
2022Year over year2.4%
2023Year over year-2.1%
2024Year over year0.6%
2025Year over year2.5%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 21.2% 2025
Net margin 12.4% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.26.2%19.7%13.1%6.6%0.0%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin23.2%
2017Operating margin21.8%
2018Operating margin17%
2019Operating margin23%
2020Operating margin22.4%
2021Operating margin24.3%
2022Operating margin22.3%
2023Operating margin17.1%
2024Operating margin21.3%
2025Operating margin21.2%
2016Net margin10.4%
2017Net margin23.9%
2018Net margin11.9%
2019Net margin14.6%
2020Net margin13.9%
2021Net margin16.5%
2022Net margin15.5%
2023Net margin8.7%
2024Net margin13%
2025Net margin12.4%
2016Free cash flow marginNot reported
2017Free cash flow marginNot reported
2018Free cash flow marginNot reported
2019Free cash flow marginNot reported
2020Free cash flow marginNot reported
2021Free cash flow marginNot reported
2022Free cash flow marginNot reported
2023Free cash flow marginNot reported
2024Free cash flow marginNot reported
2025Free cash flow marginNot reported

Operating cash flow

Cash generated by the company’s normal business operations.

USD 37.1B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.45.1B33.8B22.6B11.3B0.0201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow21689000000
2017Operating cash flow24318000000
2018Operating cash flow34339000000
2019Operating cash flow35746000000
2020Operating cash flow41768000000
2021Operating cash flow39539000000
2022Operating cash flow37141000000
2023Operating cash flow37475000000
2024Operating cash flow36912000000
2025Operating cash flow37137000000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

Not enough comparable data to show this history.
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flowUnavailable
2017Free cash flowUnavailable
2018Free cash flowUnavailable
2019Free cash flowUnavailable
2020Free cash flowUnavailable
2021Free cash flowUnavailable
2022Free cash flowUnavailable
2023Free cash flowUnavailable
2024Free cash flowUnavailable
2025Free cash flowUnavailable

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

Not enough comparable data to show this history.
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016-12-31Liabilities / assetsNot reported
2017-12-31Liabilities / assetsNot reported
2018-12-31Liabilities / assetsNot reported
2019-12-31Liabilities / assetsNot reported
2020-12-31Liabilities / assetsNot reported
2021-12-31Liabilities / assetsNot reported
2022-12-31Liabilities / assetsNot reported
2023-12-31Liabilities / assetsNot reported
2024-12-31Liabilities / assetsNot reported
2025-12-31Liabilities / assetsNot reported

Current assets to current liabilities

Current assets divided by current liabilities.

0.91× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.49×1.12×0.74×0.37×0.00×201620212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities0.87×
2017Current assets / current liabilities0.91×
2018Current assets / current liabilities0.91×
2019Current assets / current liabilities0.84×
2020Current assets / current liabilities1.38×
2021Current assets / current liabilities0.78×
2022Current assets / current liabilities0.75×
2023Current assets / current liabilities0.69×
2024Current assets / current liabilities0.63×
2025Current assets / current liabilities0.91×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
USD 13.13 billion
Exact value

Exact value: 13127000000 USD

2016-01-01 – 2016-12-31: 13127000000 USD Inspect Net Income Open source
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USD 21.69 billion
Exact value

Exact value: 21689000000 USD

2016-01-01 – 2016-12-31: 21689000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2017 2017-01-01 – 2017-12-31
USD 30.1 billion
Exact value

Exact value: 30101000000 USD

2017-01-01 – 2017-12-31: 30101000000 USD Inspect Net Income Open source
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USD 24.32 billion
Exact value

Exact value: 24318000000 USD

2017-01-01 – 2017-12-31: 24318000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2018 2018-01-01 – 2018-12-31
USD 15.53 billion
Exact value

Exact value: 15528000000 USD

2018-01-01 – 2018-12-31: 15528000000 USD Inspect Net Income Open source
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USD 34.34 billion
Exact value

Exact value: 34339000000 USD

2018-01-01 – 2018-12-31: 34339000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2019 2019-01-01 – 2019-12-31
USD 19.27 billion
Exact value

Exact value: 19265000000 USD

2019-01-01 – 2019-12-31: 19265000000 USD Inspect Net Income Open source
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USD 35.75 billion
Exact value

Exact value: 35746000000 USD

2019-01-01 – 2019-12-31: 35746000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2020 2020-01-01 – 2020-12-31
USD 17.8 billion
Exact value

Exact value: 17801000000 USD

2020-01-01 – 2020-12-31: 17801000000 USD Inspect Net Income Open source
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USD 41.77 billion
Exact value

Exact value: 41768000000 USD

2020-01-01 – 2020-12-31: 41768000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2021 2021-01-01 – 2021-12-31
USD 22.07 billion
Exact value

Exact value: 22065000000 USD

2021-01-01 – 2021-12-31: 22065000000 USD Inspect Net Income Open source
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USD 39.54 billion
Exact value

Exact value: 39539000000 USD

2021-01-01 – 2021-12-31: 39539000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2022 2022-01-01 – 2022-12-31
USD 21.26 billion
Exact value

Exact value: 21256000000 USD

2022-01-01 – 2022-12-31: 21256000000 USD Inspect Net Income Open source
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USD 37.14 billion
Exact value

Exact value: 37141000000 USD

2022-01-01 – 2022-12-31: 37141000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2023 2023-01-01 – 2023-12-31
USD 11.61 billion
Exact value

Exact value: 11614000000 USD

2023-01-01 – 2023-12-31: 11614000000 USD Inspect Net Income Open source
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USD 37.48 billion
Exact value

Exact value: 37475000000 USD

2023-01-01 – 2023-12-31: 37475000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2024 2024-01-01 – 2024-12-31
USD 17.51 billion
Exact value

Exact value: 17506000000 USD

2024-01-01 – 2024-12-31: 17506000000 USD Inspect Net Income Open source
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USD 36.91 billion
Exact value

Exact value: 36912000000 USD

2024-01-01 – 2024-12-31: 36912000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2025 2025-01-01 – 2025-12-31
USD 17.17 billion
Exact value

Exact value: 17174000000 USD

2025-01-01 – 2025-12-31: 17174000000 USD Inspect Net Income Open source
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USD 37.14 billion
Exact value

Exact value: 37137000000 USD

2025-01-01 – 2025-12-31: 37137000000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

225 filings · 18,848 latest values · 18,839 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0000732712, 732712, VZ, edgar:732712

Also known as BELL ATLANTIC CORP, VERIZON COMMUNICATIONS INC, VERIZON COMMUNICATIONS INC., Verizon Communications Inc.