VERIZON COMMUNICATIONS INC

VZ 10-K · FY 2025

VZ FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 138,191 134,788 +2.5%
Show Product Lines breakouts
Business Markets and Other · Business 13,555 13,081 +3.6%
Business Markets and Other · Operating Segments Excluding Intersegment Elimination 13,555 13,081 +3.6%
Enterprise and Public Sector · Business 13,532 14,218 -4.8%
Enterprise and Public Sector · Operating Segments Excluding Intersegment Elimination 13,532 14,218 -4.8%
Fios Revenues 12,922 12,899 +0.2%
Fios Revenues · Business 1,244 1,252 -0.6%
Fios Revenues · Consumer 11,678 11,647 +0.3%
Product 25,470 23,217 +9.7%
Product And Service Other · Consumer 4,116 3,848 +7.0%
Product And Service Other · Operating Segments Excluding Intersegment Elimination 4,116 3,848 +7.0%
Product · Business 3.7 3.6 +2.8%
Product · Consumer 21,779 19,598 +11.1%
Product · Operating Segments Excluding Intersegment Elimination 21,779 19,598 +11.1%
Service revenues and other 112,721 111,571 +1.0%
Service revenues and other · Business 25.4 25.9 -1.9%
Service · Consumer 80,617 79,245 +1.7%
Service · Operating Segments Excluding Intersegment Elimination 80,617 79,245 +1.7%
Wholesale · Business 1,953 2,196 -11.1%
Wholesale · Operating Segments Excluding Intersegment Elimination 1,953 2,196 -11.1%
Wireless Service 83,703 82,073 +2.0%
Wireless Service · Business 14,321 14,122 +1.4%
Wireless Service · Consumer 69,382 67,951 +2.1%
Show Business Segments breakouts
Business · Intersegment Elimination 29 36 -19.4%
Business · Operating Segments 29,069 29,531 -1.6%
Consumer · Intersegment Elimination 295 213 +38.5%
Consumer · Operating Segments 106,807 102,904 +3.8%
Show Consolidation Items breakouts
Consolidation Eliminations -327 -256 -27.7%
Corporate and other 2,642 2,609 +1.3%
Intersegment Elimination 324 249 +30.1%
Operating Segments 135,876 132,435 +2.6%
Cost of Revenue (FY)
Show Product Lines breakouts
Product 28,976 26,100 +11.0%
Product · Business 5,046 4,841 +4.2%
Product · Consumer 23,930 21,259 +12.6%
Product · Operating Segments 28,976 26,100 +11.0%
Service 27,789 27,997 -0.7%
Selling, General & Administrative 33,818 34,113 -0.9%
Depreciation And Amortization 18,349 17,892 +2.6%
Show Business Segments breakouts
Business · Operating Segments 4,112 4,307 -4.5%
Consumer · Operating Segments 14,173 13,552 +4.6%
Show Consolidation Items breakouts
Operating Segments 18,285 17,859 +2.4%
Total Costs & Expenses 108,932 106,102 +2.7%
Show Business Segments breakouts
Business · Operating Segments 26,537 27,473 -3.4%
Consumer · Operating Segments 77,179 73,420 +5.1%
Show Consolidation Items breakouts
Operating Segments 103,716 100,893 +2.8%
Operating Income 29,259 28,686 +2.0%
Show Business Segments breakouts
Business · Operating Segments 2,532 2,058 +23.0%
Consumer · Operating Segments 29,628 29,484 +0.5%
Show Consolidation Items breakouts
Corporate and other -480 -610 +21.3%
Operating Segments 32,160 31,542 +2.0%
Other Non-Operating Income (Expense) 107 995 -89.2%
Interest Expense -6,694 -6,649 -0.7%
Income Before Taxes 22,672 22,979 -1.3%
Income Tax Expense (Benefit) -5,064 -5,030 -0.7%
Net Income 17,608 17,949 -1.9%
Net Income Loss Attributable To Noncontrolling Interest 434 443 -2.0%
Net Income 17,174 17,506 -1.9%
Show Equity Components breakouts
Retained Earnings 17,174 17,506 -1.9%
EPS (Basic) 4.06 4.15 -2.2%
Wtd Avg Shares (Basic) 4,226 4,218 +0.2%
EPS (Diluted) 4.06 4.14 -1.9%
Wtd Avg Shares (Diluted) 4,231 4,223 +0.2%
Comprehensive Income 16,370 17,963 -8.9%
Other Comprehensive Income -804 457 -275.9%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -804 457 -275.9%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 19,048 4,194 +354.2%
Accounts And Financing Receivable Before Allowance For Credit Loss Current 28,347 27,261 +4.0%
Accounts And Financing Receivable Allowance For Credit Loss Current 1,250 1,152 +8.5%
Accounts Notes And Loans Receivable Net Current 27,097 26,109 +3.8%
Inventory 2,441 2,247 +8.6%
Prepaid Expenses & Other Current Assets 8,336 7,973 +4.6%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 298 322 -7.5%
Total Current Assets 56,922 40,523 +40.5%
Accounts Receivable (Q)
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 18,421 18,339 +0.4%
Show Financing Receivable Portfolio breakouts
Other receivables 5,502
Wireless service 5,818
Non-Current Assets
Property, Plant & Equipment 109,467 108,522 +0.9%
Goodwill 22,841 22,841 0.0%
Show Business Segments breakouts
Business 1,664 1,664 0.0%
Consumer 21,177 21,177 0.0%
Intangible Assets 10,458 11,129 -6.0%
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Lists 1,127 1,613 -30.1%
Non-Network Internal-Use Software 8,448 8,393 +0.7%
Other Intangible Assets 883 1,123 -21.4%
Operating Lease Right-of-Use Assets 23,498 24,472 -4.0%
Other Non-Current Assets 23,248 19,769 +17.6%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 11,753 11,647 +0.9%
Total Assets 404,258 384,711 +5.1%
Other Assets
Property Plant And Equipment Gross 337,991 331,406 +2.0%
Show Property Plant And Equipment By Type breakouts
Antennas, cable, conduit, poles and towers 86,221 82,810 +4.1%
Buildings and equipment 40,872 39,130 +4.5%
Central office and other network equipment 180,506 176,680 +2.2%
Construction In Progress 8,493 9,424 -9.9%
Furniture, vehicles and other 10,057 12,060 -16.6%
Land 743 740 +0.4%
Leasehold Improvements 11,099 10,562 +5.1%
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment 228,524 222,884 +2.5%
Investments In Affiliates Subsidiaries Associates And Joint Ventures 785 842 -6.8%
Indefinite Lived License Agreements 157,039 156,613 +0.3%
Current Liabilities
Current Portion of Long-Term Debt 18,618 22,633 -17.7%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 14,863 17,312 -14.1%
Accounts Payable And Accrued Liabilities Current 24,981 23,374 +6.9%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 34 37 -8.1%
Operating Lease Liability Current 4,542 4,415 +2.9%
Other Liabilities Current 14,229 14,349 -0.8%
Total Current Liabilities 62,370 64,771 -3.7%
Accounts Payable 12,154 10,425 +16.6%
Accrued Liabilities 4,534 5,058 -10.4%
Deferred Revenue (Current) 7,576 7,492 +1.1%
Debt Current 18,618 22,633 -17.7%
Non-Current Liabilities
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent 11,099 11,997 -7.5%
Show Retirement Plan Type breakouts
Other Postretirement Benefit Plans Defined Benefit 9,488 9,430 +0.6%
Pension Plans Defined Benefit 268 1,078 -75.1%
Deferred Tax Liabilities 48,717 46,732 +4.2%
Operating Lease Liabilities 18,951 19,928 -4.9%
Other Non-Current Liabilities 17,848 19,327 -7.7%
Liabilities Noncurrent 236,147 219,365 +7.7%
Long-Term Debt (Q)
Show Debt Instrument breakouts
2021 ABS Financing Facility · Secured Debt 5.6
2022 ABS Financing Facility · Secured Debt 5
Contract With Customer Liability Noncurrent 2,433 2,186 +11.3%
Other Liabilities
Long Term Debt And Capital Lease Obligations 139,532 121,381 +15.0%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 12,204 8,827 +38.3%
Stockholders' Equity
Common Stock Value Outstanding 429 429 0.0%
Additional Paid-In Capital 13,372 13,466 -0.7%
Retained Earnings 94,744 89,110 +6.3%
Accumulated Other Comprehensive Income -1,727 -923 -87.1%
Treasury Stock Common Value -3,255 -3,583 +9.2%
Deferred Compensation Employee Stock Ownership Plans And Other 897 738 +21.5%
Minority Interest 1,281 1,338 -4.3%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 105,741 100,575 +5.1%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment 197 207 -4.8%
Accumulated Gain Loss Net Cash Flow Hedge Parent -989 -981 -0.8%
Accumulated Other Comprehensive Income -1,727 -923 -87.1%
Accumulated Translation Adjustment -607 -733 +17.2%
Additional Paid In Capital 13,372 13,466 -0.7%
Aoci Derivative Qualifying As Hedge Excluded Component Parent -328 589 -155.7%
Common Stock 429 429 0.0%
Deferred Compensation Share Based Payments 897 738 +21.5%
Noncontrolling Interest 1,281 1,338 -4.3%
Retained Earnings 94,744 89,110 +6.3%
Treasury Stock Common -3,255 -3,583 +9.2%
Total Liabilities & Equity 404,258 384,711 +5.1%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Employee Benefits And Share Based Compensation Noncash 1,025 -52 +2071.2%
Deferred Income Taxes 2,340 815 +187.1%
Provision For Doubtful Accounts 2,349 2,338 +0.5%
Income Loss From Equity Method Investments Net Of Dividends Or Distributions 42 75 -44.0%
Change in Accounts Receivable -2,513 -2,565 +2.0%
Change in Inventory -232 -196 -18.4%
Change in Prepaid & Other Assets -1,394 -626 -122.7%
Increase Decrease In Accounts Payable And Accrued Liabilities 1,819 1,109 +64.0%
Other Operating Activities Cash Flow Statement -2,256 173 -1404.0%
Net Cash from Operations 37,137 36,912 +0.6%
Stock-Based Compensation (FY)
Show Award Type breakouts
Restricted Stock Units and Performance Stock Units 815 795 +2.5%
Investing Activities
Payments To Acquire Other Productive Assets -17,011 -17,090 +0.5%
Payments To Acquire Intangible Assets -450 -900 +50.0%
Other Investing Activities 801 -684 +217.1%
Net Cash from Investing -16,660 -18,674 +10.8%
Financing Activities
Proceeds From Issuance Of Longterm Debt Excluding Assetbacked Debt 18,268 3,146 +480.7%
Proceeds From Issuance Of Secured Debt 9,338 12,422 -24.8%
Show Debt Instrument breakouts
Retained Notes 523
Repayments Of Long Term Borrowings And Finance Lease Obligations -11,352 -11,854 +4.2%
Repayments Of Secured Debt -8,437 -8,490 +0.6%
Payments Of Dividends -11,481 -11,249 -2.1%
Proceeds From Payments For Other Financing Activities -1,949 -1,075 -81.3%
Net Cash from Financing -5,613 -17,100 +67.2%
Debt Repayments 9,034
Show Debt Instrument breakouts
Asset Backed Notes · Secured Debt 4.4 4.5 -2.2%
Asset-Backed Debt 8.4 8.5 -1.2%
Open market repurchases of various Verizon notes 1,912
Verizon 0.850% notes due 2025 689
Verizon 0.875% notes due 2025 840
Verizon 1.450% notes due 2026 829
Verizon 2.625% notes due 2026 990
Verizon 3.000% notes due 2027 466
Verizon 3.250% notes due 2026 1,032
Verizon 3.376% Notes Due 2025 806
Verizon 4.050% Notes Due 2025 365
Verizon 4.125% notes due 2027 615
Verizon floating rate notes due 2025 490
Supplemental
Income Taxes Paid 3,581 5,632 -36.4%
Interest Paid 5,772 5,505 +4.9%
Unpaid Capital Expenditures 3.8 3.3 +15.2%
Show Long-Term Debt Type breakouts
Alternative Financing Facility · Network Equipment 2.1 1.6 +31.2%
Other Cash Flow
Net Change in Cash 14,864 1,138 +1206.2%
Show Statement Of Financial Position Location Activity Capitalization breakouts
Cash And Cash Equivalents 14,854
Other Noncurrent Assets 32
Prepaid Expenses And Other Current Assets -22
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 19,499 4,635 +320.7%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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