Verizon Communications Inc.
Communication ServicesNYSE:VZ · New York Stock Exchange
+$1.26 today
Vol 10.84M · Avg 24.51M
Income Statement
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Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$139.1B of revenue converted into $17.3B of net income for the selected period. Gross margin is 58.5% and net margin is 12.6%, showing how much revenue survives after costs and taxes. EPS is $4.10, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $138.2B +2.5% | $134.8B +0.6% | $134.0B -2.1% | $136.8B +2.4% | $133.6B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $75.1B +4.3% | $72.0B -0.7% | $72.5B -4.9% | $76.2B +5.1% | $72.5B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $63.1B +0.4% | $62.8B +2.2% | $61.5B +1.4% | $60.6B -0.8% | $61.1B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 45.6% -0.9pp | 46.6% +0.7pp | 45.9% +1.6pp | 44.3% -1.4pp | 45.7% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $33.8B +5.0% | $32.2B -1.3% | $32.6B +8.3% | $30.1B +3.4% | $29.1B | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $33.8B +5.0% | $32.2B -1.3% | $32.6B +8.3% | $30.1B +3.4% | $29.1B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $18.3B +2.6% | $17.9B +1.5% | $17.6B +3.1% | $17.1B +5.5% | $16.2B | $374.2M | $1.2B | $631.8M |
| EBITDA | $47.7B +0.4% | $47.5B +18.4% | $40.1B -18.0% | $49.0B -0.4% | $49.1B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 34.5% -0.7pp | 35.3% +5.3pp | 30.0% -5.8pp | 35.8% -1.0pp | 36.8% | 5.6% | 46.3% | 42.0% |
| Operating Income | $29.3B -4.4% | $30.6B +6.1% | $28.8B -5.4% | $30.5B -4.7% | $32.0B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 21.2% -1.5pp | 22.7% +1.2pp | 21.5% -0.7pp | 22.3% -1.7pp | 23.9% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 -100.0% | $336.0M -5.1% | $354.0M +142.5% | $146.0M +204.2% | $48.0M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $6.7B +0.6% | $6.7B +20.4% | $5.5B +54.2% | $3.6B +2.4% | $3.5B | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$6.6B +13.6% | -$7.6B +35.6% | -$11.8B -439.3% | -$2.2B +13.7% | -$2.5B | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $22.7B -1.3% | $23.0B +35.3% | $17.0B -39.9% | $28.3B -3.9% | $29.4B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 16.4% -0.6pp | 17.0% +4.4pp | 12.7% -8.0pp | 20.7% -1.4pp | 22.0% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $5.1B +0.7% | $5.0B +2.8% | $4.9B -25.0% | $6.5B -4.1% | $6.8B | $1.3B | -$1.6B | $745.2M |
| Net Income | $17.2B -1.9% | $17.5B +50.7% | $11.6B -45.4% | $21.3B -3.7% | $22.1B | $4.9B | $4.8B | $4.7B |
| Net Margin | 12.4% -0.6pp | 13.0% +4.3pp | 8.7% -6.9pp | 15.5% -1.0pp | 16.5% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $4 -2.2% | $4 +50.4% | $3 -45.5% | $5 -4.9% | $5 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $4 -2.2% | $4 +50.9% | $3 -45.7% | $5 -4.9% | $5 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $4.2B +0.2% | $4.2B +0.2% | $4.2B +0.2% | $4.2B +1.3% | $4.1B | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $4.2B +0.3% | $4.2B +0.1% | $4.2B +0.3% | $4.2B +1.3% | $4.2B | $1.2B | $924.4M | $678.0M |
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How much revenue does VZ generate?
Verizon Communications Inc. (VZ) reported $138.19B of revenue in fiscal 2025.
Is VZ profitable?
Verizon Communications Inc. (VZ) reported $17.17B of net income, with a net margin of 12.4%.
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