{ "ok": true, "cik": "732712", "ticker": "VZ", "name": "VERIZON COMMUNICATIONS INC", "filings": [ { "form": "10-Q", "filed": "2026-07-31", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/732712/000073271226000046/0000732712-26-000046-index.htm" }, { "form": "8-K", "filed": "2026-07-24", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers" ], "url": "https://www.sec.gov/Archives/edgar/data/732712/000119312526315236/0001193125-26-315236-index.htm" }, { "form": "8-K", "filed": "2026-07-24", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/732712/000073271226000040/0000732712-26-000040-index.htm" }, { "form": "8-K", "filed": "2026-06-29", "items": [ "7.01 Regulation FD Disclosure" ], "url": "https://www.sec.gov/Archives/edgar/data/732712/000119312526286771/0001193125-26-286771-index.htm" }, { "form": "8-K", "filed": "2026-06-17", "items": [ "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/732712/000119312526273410/0001193125-26-273410-index.htm" }, { "form": "8-K", "filed": "2026-06-02", "items": [ "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/732712/000119312526252577/0001193125-26-252577-index.htm" } ], "events12m": 21, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 6, "latest": { "filed": "2026-07-24", "url": "https://www.sec.gov/Archives/edgar/data/732712/000119312526315236/0001193125-26-315236-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000732712.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=732712" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up VERIZON COMMUNICATIONS INC ($VZ). Last filing: 10-Q, 2026-07-31. 21 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 138191000000, "revenueGrowth1y": 0.02524705463394361, "revenueGrowthPerYear": 0.008457873514414072, "yearsOfData": 5, "operatingMargin": 0.2117286943433364, "operatingMarginPrior": 0.21282309997922663, "netMargin": 0.1274178492087039, "operatingCashFlow": 37137000000, "capitalSpending": null, "freeCashFlow": null, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 19048000000, "longTermDebt": 157709000000, "longTermDebtChange": 0.09558941013831279, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 133613000000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 136835000000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 133974000000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 134788000000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 138191000000 } ], "totalEquity": 105741000000, "totalAssets": 404258000000, "equityRatio": 0.2615681074957082, "returnOnEquity": 0.1665200820873644, "dividendsPaid": 11481000000, "payoutRatio": 0.6520331667423899, "dividendPerShare": 2.735, "dividendYearsRising": 17, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 4.06, "sharesOutstanding": 4231000000, "bookValuePerShare": 24.991964074686834, "revenuePerShare": 32.66154573386906, "range80": { "low": 126809492185.40971, "high": 145082670602.15518, "baseline": 140162947657.27487, "n": 1471, "band": "b10", "bandLabel": "$10B+", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.021516677013569196, "classVolatility": 0.06659579566308972, "volatility": 0.049487207385880326 }, "ifPaceHeld": { "low": 126809492185.40971, "high": 145082670602.15518 } }, "edgarette": "🔖 Exposure: revenue $138.2B (FY2025), total debt $157.7B. Experience: revenue up 2.5% on the year, up 0.8% a year over 4 years; operating margin 21.2%, down from 21.3%. Soundness: equity 26.2% of assets, return on equity 16.7%, payout 65.2% of profit, dividend per share up 17 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $126.8B and $145.1B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $119.5B to $153.1B. A statistical range, not company guidance. Against peers (14 filers, $50M+ revenue, telephone communications (no radiotelephone)): operating margin 21.2% against a 2.5% median; growth 2.5% against 2.3%.", "peers": { "sic": 4813, "sicDescription": "Telephone Communications (No Radiotelephone)", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "4813", "growth": [ 0.0233, 14 ], "opMargin": [ 0.0247, 14 ], "equityRatio": [ 0.3783, 12 ], "returnOnEquity": [ -0.017, 10 ] }, "summary": "Verizon Communications (VZ) grew revenue 2.5% in FY2025 to $138.2 billion, operating margin 21.2% against a 2.5% median for telephone communications (no radiotelephone), equity 26.2% of assets, and dividend per share up 17 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
VERIZON COMMUNICATIONS INC against its own record and its peers
Operating marginPeer median 2.5%21.2%Revenue, on the yearPeer median 2.3%2.5%Equity of assetsPeer median 37.8%26.2%Return on equityPeer median -1.7%16.7%Payout of profit65.2%Gold tick: the median of 10–12 peers with $50M+ revenue in telephone communications (no radiotelephone)
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit65.2% paid out34.8% keptHanded back per share$2.735up 17 years runningGrowth its own profit can fund5.8%retained x return on equityRevenue growth it managed2.5%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 15, "hits": 13, "rate": 0.8666666666666667, "method": "v4", "byYear": { "2011": [ 1, 1 ], "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 0, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:34:54.682Z", "hash": "210de5bfbd5b6c8f", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Verizon Communications (VZ) grew revenue 2.5% in FY2025 to $138.2 billion, operating margin 21.2% against a 2.5% median for telephone communications (no radiotelephone), equity 26.2% of assets, and dividend per share up 17 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 138191000000, "totalDebt": 157709000000, "cash": 19048000000 }, "experience": { "revenueGrowth1y": 0.02524705463394361, "revenueGrowthPerYear": 0.008457873514414072, "operatingMargin": 0.2117286943433364, "operatingMarginPrior": 0.21282309997922663, "netMargin": 0.1274178492087039, "freeCashFlow": null }, "soundness": { "equityRatio": 0.2615681074957082, "returnOnEquity": 0.1665200820873644, "payoutRatio": 0.6520331667423899, "dividendPerShare": 2.735, "dividendYearsRising": 17, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 4813, "sicDescription": "Telephone Communications (No Radiotelephone)", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "4813", "growth": [ 0.0233, 14 ], "opMargin": [ 0.0247, 14 ], "equityRatio": [ 0.3783, 12 ], "returnOnEquity": [ -0.017, 10 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 6, "latest": { "filed": "2026-07-24", "url": "https://www.sec.gov/Archives/edgar/data/732712/000119312526315236/0001193125-26-315236-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 126809492185.40971, "high": 145082670602.15518, "baseline": 140162947657.27487, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 1471, "sizeBand": "$10B+", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.021516677013569196, "classVolatility": 0.06659579566308972, "pricedVolatility": 0.049487207385880326, "k": 3 }, "stress": { "low": 119527933980.74731, "high": 153123823214.2821, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 15, "hits": 13, "rate": 0.8666666666666667, "method": "v4", "byYear": { "2011": [ 1, 1 ], "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 0, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:34:54.682Z", "hash": "210de5bfbd5b6c8f", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000732712.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=732712" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.2687, "growth3y": 0.0033, "volatility": 0.0215, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.2616, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "now", "inside": "Turns 26.9% of revenue into operating cash; revenue growing 0.3% a year over three years; pays and raised its dividend.", "outside": "Among $10B+ companies: 79th percentile for cash, 27th for growth.", "emoji": "🐄", "label": "Cash cow now", "plain": "steady, with strong cash arriving today" }, "band": "$10B+", "cashPctInClass": 79, "growthPctInClass": 27, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 37137000000, "investing": -16660000000, "financing": -5613000000, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 39539000000, "free": null }, { "fiscalYearEnd": "2022-12-31", "operating": 37141000000, "free": null }, { "fiscalYearEnd": "2023-12-31", "operating": 37475000000, "free": null }, { "fiscalYearEnd": "2024-12-31", "operating": 36912000000, "free": null }, { "fiscalYearEnd": "2025-12-31", "operating": 37137000000, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 19048000000, "shortTerm": null, "longTerm": null, "equityHoldings": 453000000, "totalAssets": 404258000000, "ladder": null, "currentRatio": 0.91, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.2687, "growth3y": 0.0033, "volatility": 0.0215, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.2616, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "now", "inside": "Turns 26.9% of revenue into operating cash; revenue growing 0.3% a year over three years; pays and raised its dividend.", "outside": "Among $10B+ companies: 79th percentile for cash, 27th for growth.", "emoji": "🐄", "label": "Cash cow now", "plain": "steady, with strong cash arriving today" }, "band": "$10B+", "cashPctInClass": 79, "growthPctInClass": 27, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 37137000000, "investing": -16660000000, "financing": -5613000000, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 39539000000, "free": null }, { "fiscalYearEnd": "2022-12-31", "operating": 37141000000, "free": null }, { "fiscalYearEnd": "2023-12-31", "operating": 37475000000, "free": null }, { "fiscalYearEnd": "2024-12-31", "operating": 36912000000, "free": null }, { "fiscalYearEnd": "2025-12-31", "operating": 37137000000, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 19048000000, "shortTerm": null, "longTerm": null, "equityHoldings": 453000000, "totalAssets": 404258000000, "ladder": null, "currentRatio": 0.91, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }