Verizon (VZ) stock
Communication Services · Integrated Telecommunication Services
Verizon (VZ) is an Integrated Telecommunication Services company in the Communication Services sector, headquartered in New York City, New York. As of October 23, 2026, VZ closed at $44.66, a market capitalization of $185.55 billion, the 62nd largest company in the S&P 500. Over the last twelve months it generated $138.89 billion in revenue (-1% year over year) and $20.16 billion in free cash flow. The stock trades at 11.6x trailing earnings and 8.5x forward earnings.
- 1-year total return: +24.0% (dividends reinvested)
- 5-year return: +3.0% a year
- 52-week range: $38.68 – $51.68
- Gross margin 59.5%, operating margin 23.0%
- Dividend yield: 6.34%, 21 straight years of increases
- FI Handbook report card: B- across 10 metrics
- 6th largest of 22 Communication Services stocks in the S&P 500
VZ price chart
1Y price change: +16.3% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| VZ | -2.5% | +16.9% | +24.0% | +20.0% | +3.0% | +4.8% | +9.3% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1983.
VZ key statistics
- Market cap
- $185.6B
- #62 in S&P 500
- P/E (TTM)
- 11.6x
- Forward P/E
- 8.5x
- EPS (TTM)
- $3.84
- Revenue (TTM)
- $138.9B
- -1%
- Free cash flow
- $20.2B
- Gross margin
- 59.5%
- Operating margin
- 23.0%
- Return on equity
- 15.8%
- Dividend yield
- 6.34%
- 52-week range
- $38.68 – $51.68
- Beta
- 0.25
- Price / sales
- 1.3x
- EV / EBITDA
- 7.4x
- Debt / equity
- 1.84x
- Employees
- 97,600
VZ report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth-0.7%F
- Gross margin59.5%B
- Operating margin23.0%B
- FCF margin14.5%C
- Return on equity15.8%B
- Net debt / EBITDA3.8xF
- Forward P/E8.5xA
- PEG ratio0.9xA
- Shareholder yield6.3%A
- Share count change / yr0.4%C
Verizon Communications financials
Revenue went from $126.0B in fiscal 2016 to $138.2B in fiscal 2025, growing 1.0% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $126.0B | $126.0B | $130.9B | $131.9B | $128.3B | $133.6B | $136.8B | $134.0B | $134.8B | $138.2B |
| Gross profit | $103.7B | $103.9B | — | — | — | — | — | — | — | — |
| Operating income | $29.2B | $27.4B | $22.3B | $30.4B | $28.8B | $32.4B | $30.5B | $22.9B | $28.7B | $29.3B |
| Net income | $13.1B | $30.1B | $15.5B | $19.3B | $17.8B | $22.1B | $21.3B | $11.6B | $17.5B | $17.2B |
| EPS (diluted) | $3.21 | $7.36 | $3.76 | $4.65 | $4.30 | $5.32 | $5.06 | $2.75 | $4.14 | $4.06 |
| Free cash flow | $4.6B | $7.1B | $17.7B | — | — | — | — | — | — | — |
| Buybacks | $0 | $0 | — | — | — | — | — | — | — | — |
| Dividends paid | $9.3B | $9.5B | $9.8B | $10.0B | $10.2B | $10.4B | $10.8B | $11.0B | $11.2B | $11.5B |
| Diluted shares | 4.1B | 4.1B | 4.1B | 4.1B | 4.1B | 4.2B | 4.2B | 4.2B | 4.2B | 4.2B |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into VZ?
A reverse DCF asks what growth the current price requires. With an enterprise value of $377.4B and $20.2B of trailing free cash flow, Verizon Communications needs to grow free cash flow about 8.9% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -4.5% a year over the last five years.
P/E ratio history
Current 11.0x vs. median 14.3x (10th–90th percentile 7.6x–48.7x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
VZ dividend
- Dividend yield
- 6.34%
- Annual dividend
- $2.83
- Years of increases
- 21
- 5-yr dividend growth
- 2.0%
- per year
- Payout ratio
- 73%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
VZ earnings
Next report: October 26, 2026. Verizon Communications has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $34.3B (-1% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 24, 2026 | $1.27 | $1.30 | +2.7% |
| Apr 27, 2026 | $1.21 | $1.28 | +5.8% |
| Jan 30, 2026 | $1.06 | $1.09 | +3.3% |
| Oct 29, 2025 | $1.19 | $1.21 | +1.5% |
| Jul 21, 2025 | $1.19 | $1.22 | +2.6% |
| Apr 22, 2025 | $1.15 | $1.19 | +3.7% |
| Jan 24, 2025 | $1.10 | $1.10 | +0.3% |
| Oct 22, 2024 | $1.18 | $1.19 | +0.7% |
Stocks like VZ
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|---|---|---|---|---|---|
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 META Meta Platforms | -0.96% | -12% | $1.6T | 21.9x | Compare |
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VZ news
- ‘Real consequences’: AT&T, Verizon and T-Mobile warn FCC as Elon Musk plots a SpaceX phone network for the US by 2028 · Oct 25, 2026
- Earnings to watch: Verizon (VZ) reports Q3 results tomorrow · Oct 25, 2026
- Verizon (VZ) Stock Looks Reasonable After A 62% Three Year Gain · Oct 24, 2026
- Jim Cramer’s Case for “Accidental High Yielders” When the Fed Shakes the Market · Oct 24, 2026
- Verizon Yields Over 6%. These 3 Dividend Giants Offer More Income Opportunities · Oct 24, 2026
VZ stock FAQ
What is VZ's market cap?
Verizon's market capitalization is $185.55 billion as of October 23, 2026, ranking 62nd in the S&P 500.
What is VZ's P/E ratio?
VZ trades at a trailing price-to-earnings ratio of 11.6x and a forward P/E of 8.5x. Its median P/E over the period we track is 14.3x.
Does VZ pay a dividend?
Yes. Verizon pays $2.83 per share a year, a 6.34% yield. It has raised its dividend 21 years in a row. Dividends grew 2.0% a year over the last five years.
How much has VZ stock returned?
Including reinvested dividends, VZ returned +24.0% over one year, +3.0% a year over five years, +4.8% a year over ten years through October 23, 2026.
Is VZ stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Verizon must grow free cash flow about 9% a year for the next decade. Its free cash flow fell 4% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does VZ report earnings?
Verizon is expected to report earnings on October 26, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Verizon have?
Verizon has about 97,600 full-time employees, or $1.4 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology