Verizon Communications Inc.
VZNYSE
$43.79
Last price · USD
- Market cap
- $185.3B
- P/E
- 10.8x
- EV / EBITDA
- 7.7x
- P/S
- 1.3x
- FCF yield
- 10.6%
- Div. yield
- 6.20%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Verizon Communications Inc. cash flow statement
Annual · USD millions except per-share data · 31 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 17,608 | 17,949 | 12,095 | 21,748 | 22,618 | -6.1% | |
| Depreciation & amortization | 18,349 | 17,892 | 17,624 | 17,099 | 16,206 | +3.2% | |
| Deferred income tax | 2,340 | 815 | 2,388 | 2,973 | 4,264 | -13.9% | |
| Change in working capital | (2,320) | (2,278) | (267) | (456) | (890) | — | |
| Accounts receivables | (2,513) | (2,565) | (2,198) | (1,978) | (1,592) | — | |
| Inventory | (232) | (196) | 287 | 627 | (905) | — | |
| Accounts payables | 1,819 | 1,109 | 2,079 | (33) | 1,457 | +5.7% | |
| Other working capital | (1,394) | (626) | (435) | 928 | 150 | — | |
| Other non-cash items | 1,160 | 2,534 | 5,635 | (4,223) | (2,659) | — | |
| Net cash from operating activities | 37,137 | 36,912 | 37,475 | 37,141 | 39,539 | -1.6% | |
| Operating cash flow | 37,137 | 36,912 | 37,475 | 37,141 | 39,539 | -1.6% | |
| Investing activities | |||||||
| Investments in PP&E | (17,461) | (17,990) | (24,563) | (26,740) | (20,286) | — | |
| Capital expenditure | (17,461) | (17,990) | (18,767) | (26,740) | (20,286) | — | |
| Acquisitions, net | 0 | 0 | (30) | 281 | 57 | — | |
| Purchases of investments | 0 | 0 | 0 | (2,265) | (21) | — | |
| Sales / maturities of investments | 0 | 0 | 0 | 0 | 21 | — | |
| Other investing activities | 801 | (684) | 1,161 | 62 | (46,924) | — | |
| Net cash from investing activities | (16,660) | (18,674) | (23,432) | (28,662) | (67,153) | — | |
| Financing activities | |||||||
| Net debt issuance | 7,817 | (4,776) | (2,162) | 4,348 | 22,554 | -23.3% | |
| Short-term net debt issuance | 0 | 0 | (150) | 106 | 0 | — | |
| Long-term net debt issuance | 7,817 | (4,776) | (2,012) | 4,242 | 22,554 | -23.3% | |
| Common dividends paid | (11,481) | (11,249) | (11,025) | (10,805) | (10,445) | — | |
| Net dividends paid | (11,481) | (11,249) | (11,025) | (10,805) | (10,445) | — | |
| Other financing activities | (1,949) | (1,075) | (1,470) | (2,072) | (3,832) | — | |
| Net cash from financing activities | (5,613) | (17,100) | (14,657) | (8,529) | 8,277 | — | |
| Cash summary | |||||||
| Net change in cash | 14,864 | 1,138 | (614) | (50) | (19,337) | — | |
| Cash at beginning of period | 4,635 | 3,497 | 4,111 | 4,161 | 23,498 | -33.4% | |
| Cash at end of period | 19,499 | 4,635 | 3,497 | 4,111 | 4,161 | +47.1% | |
| Free cash flow | 19,676 | 18,922 | 18,708 | 10,401 | 19,253 | +0.5% | |
| Income taxes paid | 3,581 | 5,632 | 2,343 | 2,736 | 0 | — | |
| Interest paid | 5,772 | 5,505 | 4,384 | 3,316 | 0 | — | |