VerizonVZ

VerizonVZ

Revenue: is the business selling more than it used to?

$138.2B+3% YoYFY 2025

→Revenue reached $138.2B in 2025, compounding +0% a year since 2022 though the pace has cooled.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

Net income: how much of that revenue becomes profit?

$17.6B−2% YoYFY 2025

→Net income was $17.6B in 2025, compounding -7% a year over three years. Trailing twelve-month profit stands at $16.6B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

How fast is it growing, year by year?

+2.5%revenue growth, FY 2025

→Revenue grew +3% in 2025 against a five-year average of +2%. Earnings went the other way (-2%) even as sales grew, so margins compressed: costs rose faster than revenue. 2013's +1214% earnings rebound off a collapsed base sits off the axis.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

Revenue per share: is your slice growing as fast as the company?

$32.66revenue per share, FY 2025

→Revenue per share reached $32.66 in 2025, compounding +0% a year - in line with VZ's own +0%, so the share count is not distorting your slice. Free cash flow per share stands at $8.78.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

Free cash flow: what is left in real cash after everything?

$37.1B+1% YoYFY 2025

→Free cash flow was $37.1B in 2025, compounding -0% a year since 2022. The trailing twelve months stand at $21.8B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

How much of every sales dollar ends up as free cash?

→27 cents of every sales dollar became free cash in 2025, and it has held steady since 2022.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is capital spending, at 13% of revenue (stock compensation 0%).

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

When sales grow, do profits grow faster?

→Operating profit outgrew revenue in only 2 of the last 5 years. Costs are growing roughly in step with the business, so scale isn't yet paying for itself.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin has held near 21% since 2022. After everything, 13 cents of each sales dollar reaches net profit. VZ doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

What does it earn on the money it uses?

→ROE of 16% sits well above ROCE of 9%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

What has the market paid for VZ over time?

12.8xP/E today

→At 12.8x earnings, the market is paying +52% more than VZ's own 11-year median of 8.4x. Expectations are elevated, so more has to go right to justify the price. Today's multiple is the highest in the charted history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

What cash return does the business throw off per dollar of market value?

10.5%FCF yield today

→Every dollar of market value currently buys 10.5% of annual free cash flow, less than its 11-year median of 22.4% - you are paying up for the same cash.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

Could it handle its debt if things went wrong?

→Debt of $165.2B sits against $1.8B of cash, or 1.6x shareholders' equity. Earnings cover interest 3.9 times - adequate, with less room than it looks in a downturn.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

Is the company's own capital growing?

→The company's own capital grew from $93.8B in 2023 to $105.2B (+12%). The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

How much goes back, and how much leaks out as stock comp?

→Shareholders received $11.5B in dividends in 2017. Stock compensation issued $400M of new shares in the same year, offsetting 3% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

How fast is your ownership being diluted - or concentrated?

→The share count grew 0.2% in 2025, averaging 0.2% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

Is the dividend cheque growing?

→The dividend per share reached $2.71 in 2025, compounding +2% a year since 2020.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

Can it afford the dividend?

→The dividend consumed 65% of profit and 31% of free cash flow in 2025. That leaves room to keep paying through a weak year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

Does VZ earn more on its capital than that capital costs?

→VZ earns 8.6% on the capital it employs, below the 10% most investors treat as the cost of capital. It was 9.2% in 2022, so the trend is down, though the path has been bumpy.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

VZ has issued or retired shares - did shareholders end up better off?

→VZ issued +49% more shares from 2011 to 2025 and revenue per share still fell -16%. On this measure the new shares have not paid for themselves.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

VerizonVZ

Are the people running it buying or selling?

→Insiders sold $164,164 on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30