Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Verizon

VZ stock analysis · Communication Services · Integrated Telecommunication Services

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$42.34HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$175.9B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$73.57

Equity cash-flow scenario · SEC outstanding shares at 2026-06-30 · 73.8% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

-7.7%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

60.1%

13 sector peers · median 16.4×

How this is calculated ↗
Valuation

Historical multiples

10.2×

7 annual observations · snapshot P/E 10.2× · 0.0% versus history

How this is calculated ↗
Valuation

Free cash flow yield

11.4%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

9.5%

Normalized tax · financing-capital proxy

How this is calculated ↗
Valuation

Value composite

68/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

5.1%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-5.0%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

0.6%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 41.8B2020-12-31: cfo $41,768,000,000.002020-12-31: capex $18,192,000,000.0020202021-12-31: cfo $39,539,000,000.002021-12-31: capex $20,286,000,000.0020212022-12-31: cfo $37,141,000,000.002022-12-31: capex $23,087,000,000.0020222023-12-31: cfo $37,475,000,000.002023-12-31: capex $18,767,000,000.0020232024-12-31: cfo $36,912,000,000.002024-12-31: capex $17,090,000,000.0020242025-12-31: cfo $37,137,000,000.002025-12-31: capex $17,011,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$92.28$100.69$109.73
10.0%$67.62$73.57$79.96
12.0%$53.35$57.89$62.76

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-31138.2B17.6B37.1B17B404.3B
2024-12-31134.8B17.9B36.9B17.1B384.7B
2023-12-31134B12.1B37.5B18.8B380.3B
2022-12-31136.8B21.7B37.1B23.1B379.7B
2021-12-31133.6B22.6B39.5B20.3B366.6B
2020-12-31128.3B18.3B41.8B18.2B316.5B
2019-12-31131.9B19.8B35.7B17.9B291.7B
2018-12-31130.9B16B34.3B16.7B264.8B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue138.2BRevenues2026-02-17
netIncome17.6BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-17
Parent/common earnings proxy17.2BNetIncomeLoss2026-02-17
cfo37.1BNetCashProvidedByUsedInOperatingActivities2026-02-17
capex17BPaymentsToAcquireOtherProductiveAssets
Capital expenditures including capitalized software; wireless license acquisitions are separate and excluded.
2026-02-17
operatingIncome29.3BOperatingIncomeLoss2026-02-17
assets404.3BAssets2026-02-17
equity105.7BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-17
Parent book equity proxy104.5BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest − MinorityInterest
Parent stockholders' equity derived by removing explicitly reported noncontrolling interests; preferred equity may remain included.
2026-02-17
debt157.7BLongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities2026-02-17
shortDebt441MShortTermBorrowings2026-02-17
cash19BCashAndCashEquivalentsAtCarryingValue2026-02-17
shares4.2BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-17
dividends11.5BPaymentsOfDividends2026-02-17
buybacksNot reported under a supported tag
issuanceNot reported under a supported tag