Metrics
The numbers behind Verizon Communications Inc.: as-reported financial statements and company metrics for FY2021–FY2025, traced to the source filings, opened with the share-price history those statements have to justify. Every linked figure opens the exact page of the filing it was printed on, with the statement row highlighted. Amounts in US$ millions unless noted.
Reading notes: Main-column figures (FY2021–FY2025) are taken from each fiscal year's own Form 10-K, first reported column: income statement and cash-flow statement print three years, the balance sheet two years. Revenue breakdown uses Verizon's two reportable segments (Consumer and Business). Segment 'Total Operating Revenues' include intersegment revenues; the reconciliation adds Corporate and other and subtracts Eliminations to reach Consolidated Operating Revenues, which ties to Total Operating Revenues on the income statement. FY2021 Corporate and other operating revenue ($7,722M) is elevated versus later years because it then included Verizon Media and other businesses subsequently divested/reallocated; FY2021 and FY2022 segment figures are cited to the FY2022 Form 10-K (which reports 2022/2021/2020). Segment operating income (segment_profit) is shown only for FY2023–FY2025 on the current segment-reporting basis; the segment expense/operating-income methodology changed with the FY2025 presentation (ASU 2023-07 and centrally-managed cost allocation), so FY2021–FY2022 segment operating income is not comparable and is omitted.
Share Price — Full Available History — 43 Years
The stock closed at $46.38 on Jul 24, 2026 — up 487% over the window shown (+4.2% a year), trading between $7.32 and $62.50. At that close the stock trades at 11× FY2025 diluted EPS as reported below.
Source: market price feed, monthly closes, sampled from 10,752 source observations, Nov 1983–Jul 2026. Price return only, excludes dividends. Prices are split-adjusted (1:2 on Apr 18, 1986; 1:2 on May 02, 1990; 1:2 on Jun 30, 1998; ×1.03806 on Nov 20, 2006; ×1.00465 on Apr 01, 2008; ×1.06622 on Jul 02, 2010).
Market capitalization $189.5bn and enterprise value $189.1bn.
Market cap = 4.09B shares outstanding × the Jul 24, 2026 close of $46.38. Enterprise value adds total debt of $18.6bn and subtracts cash and equivalents of $19.0bn (net cash of $430mn), from the FY2025 balance sheet. Market-derived figures, shown without filing links.
FY2025 at a Glance
Revenue (US$ millions)
Operating income (US$ millions)
Net income (US$ millions)
Diluted EPS
Source: FY2025 consolidated statements [1] [2] [3] [4]. Click any linked figure to open the filing page with the row highlighted.
Operating Revenues by Segment
| Operating Revenues by Segment | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Verizon Consumer Group | 95,300 | 103,506 | 101,626 | 102,904 | 106,807 |
| Verizon Business Group | 31,042 | 31,072 | 30,122 | 29,531 | 29,069 |
| Total reportable segments | 126,342 | 134,578 | 131,748 | 132,435 | 135,876 |
| Corporate and other | 7,722 | 2,510 | 2,479 | 2,609 | 2,642 |
| Eliminations | (451) | (253) | (253) | (256) | (327) |
| Consolidated Operating Revenues | 133,613 | 136,835 | 133,974 | 134,788 | 138,191 |
| Consolidated Operating Revenues growth, derived | — | +2.4% | -2.1% | +0.6% | +2.5% |
Source: Note 12 Segment Information — segment operating revenues and reconciliation to consolidated operating revenues (segment totals include intersegment revenues) [5] [6] [7] [8]. Click any linked figure to open the filing page with the row highlighted.
Segment Operating Income
| Segment Operating Income | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Verizon Consumer Group | — | — | 29,011 | 29,484 | 29,628 |
| Verizon Business Group | — | — | 2,066 | 2,058 | 2,532 |
| Total reportable segments | — | — | 31,077 | 31,542 | 32,160 |
Source: Note 12 Segment Information — reportable-segment operating income (current segment-reporting basis; shown FY2023–FY2025) [6] [7] [8]. Click any linked figure to open the filing page with the row highlighted.
Income Statement
Source: Consolidated Statements of Income [1] [2] [3] [4]. Click any linked figure to open the filing page with the row highlighted.
Columns marked E are consensus analyst estimates from S&P Capital IQ (CapIQ), shown alongside reported results for direct comparison; they are not company guidance.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-07-25. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.
Balance Sheet
Source: Consolidated Balance Sheets [9] [10] [11] [12]. Click any linked figure to open the filing page with the row highlighted.
Cash Flow
Source: Consolidated Statements of Cash Flows [13] [14] [15] [16]. Click any linked figure to open the filing page with the row highlighted.
Consumer — Wireless Postpaid Metrics
| Consumer — Wireless Postpaid Metrics | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Wireless retail postpaid connections ('000) | — | — | 93,850 | 95,118 | 95,678 |
| Wireless retail postpaid ARPA (US$/account) | — | — | 137.80 | 144.00 | 147.31 |
| Wireless retail postpaid churn | — | — | 1.0% | 1.1% | 1.1% |
| Wireless retail postpaid phone churn | — | — | 0.8% | 0.8% | 0.9% |
| Wireless retail postpaid phone net additions ('000) | — | — | (132) | 82 | 137 |
| Wireless service revenue — Consumer | — | — | 65,820 | 67,951 | 69,382 |
Source: company filings [17]. Click any linked figure to open the filing page with the row highlighted.
Consumer — Broadband Fios
| Consumer — Broadband Fios | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total broadband connections ('000) | — | — | 9,056 | 10,014 | 10,858 |
| FWA broadband connections ('000) | — | — | 1,866 | 2,714 | 3,407 |
| Fios internet connections ('000) | — | — | 6,976 | 7,135 | 7,328 |
| Fios video connections ('000) | — | — | 2,951 | 2,684 | 2,441 |
| Total broadband net additions ('000) | — | — | 1,163 | 956 | 844 |
| Fios revenue — Consumer | — | — | 11,614 | 11,647 | 11,678 |
Source: company filings [17]. Click any linked figure to open the filing page with the row highlighted.
Business Segment KPIs
| Business Segment KPIs | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Wireless retail postpaid connections ('000) | — | — | 29,779 | 30,819 | 31,027 |
| Wireless retail postpaid churn | — | — | 1.5% | 1.5% | 1.6% |
| Total broadband connections ('000) | — | — | 1,661 | 2,313 | 2,772 |
| FWA broadband connections ('000) | — | — | 1,201 | 1,854 | 2,320 |
| Wireless service revenue — Business | — | — | 13,714 | 14,122 | 14,321 |
Source: company filings [18]. Click any linked figure to open the filing page with the row highlighted.
Profitability, Free Cash Flow Capital Returns
| Profitability, Free Cash Flow Capital Returns | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Consolidated Adjusted EBITDA | 48,380 | 47,870 | 47,789 | 48,791 | 49,997 |
| Free cash flow | 19,253 | 14,054 | 18,708 | 19,822 | 20,126 |
| Cash dividends declared per common share | 2.54 | 2.58 | 2.63 | 2.69 | 2.73 |
Source: company filings [19] [20] [21] [22]. Click any linked figure to open the filing page with the row highlighted.
Long-Term Record
| Fiscal year | Total revenue | Operating income | Net income attributable to Verizon | Diluted earnings per share | Operating cash flow | Capital expenditures |
|---|---|---|---|---|---|---|
| FY2016 | 125,980 | 29,249 | 13,127 | 3.21 | 21,689 | — |
| FY2017 | 126,034 | 27,425 | 30,101 | 7.36 | 24,318 | — |
| FY2018 | 130,863 | 22,278 | 15,528 | 3.76 | 34,339 | — |
| FY2019 | 131,868 | 30,378 | 19,265 | 4.65 | 35,746 | 17,939 |
| FY2020 | 128,292 | 28,798 | 17,801 | 4.30 | 41,768 | 18,192 |
| FY2021 | 133,613 | 32,448 | 22,065 | 5.32 | 39,539 | 20,286 |
| FY2022 | 136,835 | 30,467 | 21,256 | 5.06 | 37,141 | 23,087 |
| FY2023 | 133,974 | 22,877 | 11,614 | 2.75 | 37,475 | 18,767 |
| FY2024 | 134,788 | 28,686 | 17,506 | 4.14 | 36,912 | 17,090 |
| FY2025 | 138,191 | 29,259 | 17,174 | 4.06 | 37,137 | 17,011 |
Source: consolidated statements across filings; older years from the standardized feed [13] [1] [14] [2]. Click any linked figure to open the filing page with the row highlighted.
Operating KPIs
| KPI | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Consumer wireless retail postpaid connections | — | — | 93,850,000 | 95,118,000 | 95,678,000 |
| Consumer total broadband connections | — | — | 9,056,000 | 10,014,000 | 10,858,000 |
| Consumer Fios revenue | — | — | 11,614 | 11,647 | 11,678 |
Source: company-reported operating metrics [17]. Click any linked figure to open the filing page with the row highlighted.
Analyst Consensus
Mean target
Median target
High target
Low target
Street ratings: 8 strong buy, 3 buy, 15 hold. Consensus: Buy.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-07-25. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.
Traceability
380 of 411 figures on this page (92%) link to the filing page where they are printed — click a linked figure to open the source PDF at that page with the row highlighted. Unlinked figures come from standardized data feeds or pre-filing years.
Main-column figures (FY2021–FY2025) are taken from each fiscal year's own Form 10-K, first reported column: income statement and cash-flow statement print three years, the balance sheet two years.
Revenue breakdown uses Verizon's two reportable segments (Consumer and Business). Segment 'Total Operating Revenues' include intersegment revenues; the reconciliation adds Corporate and other and subtracts Eliminations to reach Consolidated Operating Revenues, which ties to Total Operating Revenues on the income statement.
FY2021 Corporate and other operating revenue ($7,722M) is elevated versus later years because it then included Verizon Media and other businesses subsequently divested/reallocated; FY2021 and FY2022 segment figures are cited to the FY2022 Form 10-K (which reports 2022/2021/2020).
Segment operating income (segment_profit) is shown only for FY2023–FY2025 on the current segment-reporting basis; the segment expense/operating-income methodology changed with the FY2025 presentation (ASU 2023-07 and centrally-managed cost allocation), so FY2021–FY2022 segment operating income is not comparable and is omitted.
In Q1 2025 Verizon reclassified recurring device protection and insurance plan revenue from Other into Wireless service revenue (applied retrospectively to 2023 and 2024); this affects the Consumer service/other split but not segment or consolidated totals.
FY2016–FY2020 long-term-record figures come from the standardized SEC XBRL data feed and are shown without page links. Capital expenditures for FY2016–FY2018 are not shown (not carried in the feed).
Quarterly cash flows and Q4 FY25 income are derived from printed year-to-date / full-year statements as noted on each quarterly table; all derived values reconcile exactly and were cross-checked against the quarterly data feed.
No material figure-level discrepancies were found between the filings and the numeric data feed (agreement within rounding across revenue, operating income, net income, EPS, operating cash flow and balance-sheet totals).