Verizon (VZ) financial statements
- FY2025 revenue
- $138.2B▲ +2.5%
- FY2025 net income
- $17.2B▼ −1.9%
- FY2025 diluted EPS
- $4.06▼ −1.9%
- FY2025 free cash flow
- $20.1B▲ +1.5%
Verizon income statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Revenue | 138,191 | 134,788 | 133,974 |
| Operating income | 29,259 | 28,686 | 22,877 |
| Pretax income | 22,672 | 22,979 | 16,987 |
| Net income | 17,174 | 17,506 | 11,614 |
| Diluted earnings per share | 4.06 | 4.14 | 2.75 |
Verizon balance sheet
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Cash and cash equivalents | 19,048 | 4,635 | 3,497 |
| Total assets | 404,258 | 384,711 | 380,255 |
| Total liabilities (derived) | 298,517 | 284,136 | 286,456 |
| Total equity | 105,741 | 100,575 | 93,799 |
| Long-term debt | 139,532 | 121,381 | 137,701 |
Verizon cash flow statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Operating cash flow | 37,137 | 36,912 | 37,475 |
| Capital expenditure | -17,011 | -17,090 | -18,767 |
| Free cash flow (derived) | 20,126 | 19,822 | 18,708 |
| Dividends paid | -11,481 | -11,249 | -11,025 |
Quarterly highlights
| USD millions | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 |
|---|---|---|---|---|
| Period ended | 30 Sep 2026 | 30 Jun 2026 | 31 Mar 2026 | 31 Dec 2025 |
| Revenue (derived) | 34,313 | 34,253 | 34,440 | 36,381 |
| Operating income (derived) | 8,650 | 7,179 | 8,242 | 5,004 |
| Net income (derived) | 5,198 | 3,835 | 5,045 | 2,342 |
| Diluted earnings per share | 1.25 | 0.92 | 1.20 | n/a |
| Operating cash flow (derived) | 11,517 | 10,435 | 7,984 | 9,114 |
| Total assets | 415,522 | 410,186 | 417,882 | 404,258 |
Verizon major shareholders
| Holder | Share of class | Shares | Filed |
|---|---|---|---|
| Vanguard Capital Management | 7.2% | 302,904,960 | 30 April 2026 |
| STATE STREET CORPORATION | 5.1% | 215,538,375 | 10 November 2025 |
Verizon 10-K and SEC filings
| Filed | Form | Type | Description |
|---|---|---|---|
| 29 October 2026 | 10-Q | Quarterly report | Quarterly report |
| 26 October 2026 | 8-K | Current report | Current report |
| 29 September 2026 | 8-K | Current report | Current report |
| 31 July 2026 | 10-Q | Quarterly report | Quarterly report |
| 24 July 2026 | 8-K | Current report | Current report |
| 24 July 2026 | 8-K | Current report | Current report |
| 29 June 2026 | 8-K | Current report | Current report |
| 17 June 2026 | 8-K | Current report | Current report |
Common questions
What was Verizon's revenue in fiscal 2025?
Verizon reported $138.2 billion in revenue for fiscal 2025, the year ended 31 December 2025, up 2.5% from fiscal 2024.
What was Verizon's net income in fiscal 2025?
Verizon reported net income of $17.2 billion for fiscal 2025, the year ended 31 December 2025, down 1.9% from fiscal 2024. Diluted earnings per share were $4.06.
What was Verizon's free cash flow in fiscal 2025?
Verizon had $20.1 billion in free cash flow in fiscal 2025. Operating cash flow was $37.1 billion and capital expenditure was $17.0 billion.
What were Verizon's total assets at the end of fiscal 2025?
Verizon reported total assets of $404.3 billion at the end of fiscal 2025, the year ended 31 December 2025.
How much Verizon history does each plan include?
Free covers the last 3 fiscal years of annual figures. Basic covers the last 10 fiscal years, annual and quarterly. Pro covers the full history, with first reported values and as of dates.
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