Verizon (VZ): financials, SEC filings and peers
Verizon (VZ) is an integrated telecommunication services company in the Communication Services sector of the S&P 500, headquartered in New York City, New York.
It was founded in 1983 and joined the S&P 500 on November 30, 1983.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Telephone Communications (No Radiotelephone)”.
Verizon at a glance
- Revenue (12 months)
- $139.4B
- Revenue growth
- +1.4%
- Operating margin
- 20.9%
- Net income (12 months)
- $16.4B
- Free cash flow (12 months)
- —
- Cash
- $4.5B
- Debt
- $166.2B
- Diluted EPS (12 months)
- $3.92
Twelve months to September 30, 2026, from the 10-Q filed October 29, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, Verizon reported revenue of $139.4 billion, about the same as a year earlier (+1.4%).
Its operating margin was 20.9%, down 2.2 percentage points from a year earlier: for every $100 of sales, about $21 was left as operating profit.
Net income was $16.4 billion (11.8% of revenue), 17.2% lower than a year earlier.
At the end of the period it held $4.5 billion in cash and $166.2 billion in debt, a net debt position of $161.7 billion.
The diluted share count fell 1.7% in a year, typically the result of buybacks.
Five-year trend
- Revenue went from $128.3 billion in fiscal 2020 to $138.2 billion in fiscal 2025, about 1.5% a year.
- Operating margin has been steady, around 21.2%.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $133.6B | $136.8B | $134.0B | $134.8B | $138.2B |
| Revenue growth | 4.1% | 2.4% | -2.1% | 0.6% | 2.5% |
| Operating margin | 24.3% | 22.3% | 17.1% | 21.3% | 21.2% |
| Net income | $22.1B | $21.3B | $11.6B | $17.5B | $17.2B |
| Free cash flow | — | — | — | — | — |
| Diluted EPS | $5.32 | $5.06 | $2.75 | $4.14 | $4.06 |
Fiscal years as reported in Verizon’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
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Questions about Verizon
Is Verizon's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $139.4 billion, up 1.4% from a year earlier, according to its SEC filings.
Is Verizon profitable?
Yes. It earned $16.4 billion in net income over the twelve months to September 30, 2026, a net margin of 11.8%.
Does Verizon have more cash or more debt?
At September 30, 2026 it had $4.5 billion in cash and $166.2 billion in debt, so more debt than cash.
When did Verizon last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 29, 2026.
Which companies are similar to Verizon?
In the S&P 500, Verizon is grouped in Integrated Telecommunication Services within the Communication Services sector. AT&T (T) are in the same group.
Understand the numbers
Source: Verizon’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.