Tearsheet

Verizon Communications (VZ)


Market Price (10/21/2025): $40.8 | Market Cap: $172.3 Bil
Sector: Communication Services | Industry: Integrated Telecommunication Services

Verizon Communications (VZ)


Market Price (10/21/2025): $40.8
Market Cap: $172.3 Bil
Sector: Communication Services
Industry: Integrated Telecommunication Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 6.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 11%
Weak multi-year price returns
2Y Excs Rtn is -5.2%, 3Y Excs Rtn is -46%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 97%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 37 Bil, FCF LTM is 20 Bil
  Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.7%
2 Low stock price volatility
Vol 12M is 22%
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 6.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 11%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 37 Bil, FCF LTM is 20 Bil
2 Low stock price volatility
Vol 12M is 22%
3 Weak multi-year price returns
2Y Excs Rtn is -5.2%, 3Y Excs Rtn is -46%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 97%
5 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.7%

Market Valuation & Key Metrics

VZ Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
VZ Return-0%-8%-20%3%13%9%-7%
Peers Return-0%7%-20%-7%43%5%20%
S&P 500 Return16%27%-19%24%23%15%106%

Monthly Win Rates [3]
VZ Win Rate42%42%50%58%58%56% 
Peers Win Rate20%35%18%28%28%78% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
VZ Max Drawdown-18%-11%-28%-16%0%-4% 
Peers Max Drawdown-12%-2%-25%-27%-15%-12% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: CMCSA, FYBR, LUMN, GLIBA, GLIBK. See VZ Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/20/2025 (YTD)

Downturns Compared

Unique KeyEventVZS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-48.5%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven94.1%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-18.7%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven22.9%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven253 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-21.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven27.4%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven199 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-45.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven83.7%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1440 days1480 days


How Low Can It Go?

Verizon Communications's stock fell -48.5% during the 2022 Inflation Shock from a high on 5/10/2021. A -48.5% loss requires a 94.1% gain to breakeven.

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Better Bets than Verizon Communications (VZ)

Latest Trefis Analyses

Trade Ideas

Select past ideas related to VZ. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TTD_9302025_Dip_Buyer_High_CFO_Margins_ExInd_DE09302025TTDTrade DeskDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
7.1%7.1%0.0%
CMCSA_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025CMCSAComcastMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-10.1%-10.1%-11.0%
PINS_5312025_Monopoly_xInd_xCD_Getting_Cheaper05312025PINSPinterestMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
5.8%5.8%-2.3%
IRDM_4302025_Dip_Buyer_FCFYield04302025IRDMIridium CommunicationsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-21.6%-21.6%-27.4%
IAS_4302025_Dip_Buyer_High_CFO_Margins_ExInd_DE04302025IASIntegral Ad ScienceDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
44.4%44.4%0.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TTD_9302025_Dip_Buyer_High_CFO_Margins_ExInd_DE09302025TTDTrade DeskDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
7.1%7.1%0.0%
CMCSA_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025CMCSAComcastMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-10.1%-10.1%-11.0%
PINS_5312025_Monopoly_xInd_xCD_Getting_Cheaper05312025PINSPinterestMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
5.8%5.8%-2.3%
IRDM_4302025_Dip_Buyer_FCFYield04302025IRDMIridium CommunicationsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-21.6%-21.6%-27.4%
IAS_4302025_Dip_Buyer_High_CFO_Margins_ExInd_DE04302025IASIntegral Ad ScienceDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
44.4%44.4%0.0%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Verizon Communications

Financials

VZCMCSAFYBRLUMNGLIBAGLIBKMedian
NameVerizon .Comcast Frontier.Lumen Te.GCI Libe.GCI Libe. 
Mkt Price40.8029.5737.577.1636.2836.3536.31
Mkt Cap172.3111.49.47.1--60.4
Rev LTM137,000123,5595,97812,8249329329,401
Op Inc LTM29,49723,147408412176176410
FCF LTM19,60713,424-1,185938146146542
FCF 3Y Avg15,30212,937-1,547144--6,540
CFO LTM37,10028,1191,9084,3853883883,146
CFO 3Y Avg36,87327,8751,5353,374--15,624

Growth & Margins

VZCMCSAFYBRLUMNGLIBAGLIBKMedian
NameVerizon .Comcast Frontier.Lumen Te.GCI Libe.GCI Libe. 
Rev Chg LTM2.1%1.3%4.1%-6.5%--1.7%
Rev Chg 3Y Avg0.7%0.9%--12.2%--0.7%
Rev Chg Q5.2%-0.6%3.8%-5.4%--1.6%
QoQ Delta Rev Chg LTM1.3%-0.1%0.9%-1.4%--0.4%
Op Mgn LTM21.5%18.7%6.8%3.2%18.9%18.9%18.8%
Op Mgn 3Y Avg21.8%19.0%8.8%7.1%--13.9%
QoQ Delta Op Mgn LTM-0.0%-0.1%-1.0%-0.8%---0.4%
CFO/Rev LTM27.1%22.8%31.9%34.2%41.6%41.6%33.1%
CFO/Rev 3Y Avg27.2%22.9%26.4%24.6%--25.5%
FCF/Rev LTM14.3%10.9%-19.8%7.3%15.7%15.7%12.6%
FCF/Rev 3Y Avg11.3%10.6%-26.8%1.4%--6.0%

Valuation

VZCMCSAFYBRLUMNGLIBAGLIBKMedian
NameVerizon .Comcast Frontier.Lumen Te.GCI Libe.GCI Libe. 
Mkt Cap172.3111.49.47.1--60.4
P/S1.30.91.60.6--1.1
P/EBIT5.65.025.3-24.4--5.3
P/E9.57.1-24.3-6.0--0.5
P/CFO4.64.04.91.6--4.3
Total Yield17.1%18.4%-4.1%-16.5%--6.5%
Dividend Yield6.6%4.3%0.0%0.0%--2.2%
FCF Yield 3Y Avg8.9%8.5%-27.6%1.9%--5.2%
D/E1.00.91.32.6--1.1
Net D/E1.00.81.22.3--1.1

Returns

VZCMCSAFYBRLUMNGLIBAGLIBKMedian
NameVerizon .Comcast Frontier.Lumen Te.GCI Libe.GCI Libe. 
1M Rtn-4.6%-5.4%1.0%25.4%0.6%2.4%0.8%
3M Rtn-2.3%-14.6%1.6%66.1%-1.9%-3.1%-2.1%
6M Rtn-1.8%-10.2%4.2%133.2%--1.2%
12M Rtn-0.9%-26.8%5.2%6.2%--2.2%
3Y Rtn41.2%6.8%70.6%7.5%--24.4%
1M Excs Rtn-5.6%-6.5%-0.1%24.3%-0.5%1.4%-0.3%
3M Excs Rtn-10.1%-22.0%-5.1%54.2%-6.5%-4.8%-5.8%
6M Excs Rtn-32.3%-40.8%-26.4%102.7%---29.3%
12M Excs Rtn-16.0%-42.6%-10.8%-0.5%---13.4%
3Y Excs Rtn-46.4%-75.9%-17.7%-78.8%---61.1%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Consumer101,626103,50695,30088,53391,056
Business30,12231,07231,04230,96231,443
Corporate and other2,4792,5107,7229,3349,812
Eliminations-253-253-451-537-443
Total133,974136,835133,613128,292131,868


Operating Income by Segment
$ Mil20242023202220212020
Consumer29,01128,84629,95528,85628,961
Business2,0662,6313,4373,7733,762
Legacy legal matter000  
Legal settlement-1000   
Business transformation costs-17600  
Non-strategic business shutdown-17900  
Other components of net periodic pension and benefit charges-248-387-769-817-813
Asset and business rationalization-4800   
Severance charges-533-304-209-221-204
Corporate and other-643-319-449-1,472-1,403
Verizon Business Group goodwill impairment-5,84100  
Asset rationalization  0  
Loss on spectrum licenses  -223-1,195 
Net gain from disposition of business  706-126261
Impairment charges    -186
Total22,87730,46732,44828,79830,378


Price Behavior

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity87,625,884
Short Interest: % Change Since 9152025-5.7%
Average Daily Volume18,586,144
Days-to-Cover Short Interest4.71
Basic Shares Quantity4,224,000,000
Short % of Basic Shares2.1%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/21/20254.0%5.5%8.7%
4/22/20250.6%-1.3%3.0%
1/24/20250.9%0.7%10.6%
10/22/2024-5.0%-4.8%-4.1%
7/22/2024-6.1%-3.7%-2.1%
4/22/2024-4.7%-2.0%-0.9%
1/23/20246.7%6.2%3.8%
10/24/20239.3%10.3%18.7%
...
SUMMARY STATS   
# Positive121210
# Negative131315
Median Positive1.4%2.0%5.1%
Median Negative-3.2%-2.2%-2.3%
Max Positive9.3%10.3%18.7%
Max Negative-6.7%-12.0%-10.0%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025725202510-Q 6/30/2025
3312025425202510-Q 3/31/2025
12312024212202510-K 12/31/2024
93020241025202410-Q 9/30/2024
6302024725202410-Q 6/30/2024
3312024425202410-Q 3/31/2024
12312023209202410-K 12/31/2023
93020231026202310-Q 9/30/2023
6302023728202310-Q 6/30/2023
3312023427202310-Q 3/31/2023
12312022210202310-K 12/31/2022
93020221025202210-Q 9/30/2022
6302022728202210-Q 6/30/2022
3312022427202210-Q 3/31/2022
12312021211202210-K 12/31/2021
93020211026202110-Q 9/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Malady KyleEVP and Group CEO-VZ Business5092025Sell43.819,701425,00113,450Form
1Malady KyleEVP and Group CEO-VZ Business5082025Sell44.109,000396,900441,353Form
2Malady KyleEVP and Group CEO-VZ Business5012025Sell43.887,500329,062833,976Form
3Malady KyleEVP and Group CEO-VZ Business4252025Sell43.0210,000430,2401,140,480Form
4Malady KyleEVP and Group CEO-VZ Business4242025Sell42.485,000212,4251,551,042Form