olivLaw · US equity research
Verizon Communications Inc. VZ
Telephone Communications (No Radiotelephone) · SIC 4813 · Vertical: Telephone Communications (No Radiotelephone) (SIC 4813)
Verizon Communications Inc. is one of the largest communications, technology and streaming companies in the world, with its core in the US wireless network and fiber-optic broadband. Revenue reached 138.2 billion dollars in 2025, and in the third quarter of 2026 the company reported its strongest third-quarter postpaid phone net additions in five years, which makes it relevant to investors and customers alike.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Verizon Communications Inc. (VZ) stock was 46.17 USD (+2.06% on the day), with market capitalisation 191.4 bn USD, P/E 11.8 on diluted EPS of 3.92 USD over the last 12 months, dividend yield 6.09%, beta -0.05, 52-week range 38.91–51.45 USD. Latest reported quarter (Q3 2026): revenue of 34.3 bn USD (+1.5% YoY), net income of 5.2 bn USD (+5.0% YoY), diluted EPS 1.25 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 55.6
- strong (55–70)
- Bollinger (20, 2)
- 42.05 – 46.46
- in the upper half of the band · %B 0.93 · band width 10.0%
- SMA 50 / 200
- 46.78 / 46.91
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.34 / -0.70
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +0.7% | −1.1% | +1.8 pp | — |
| 3 months | −0.6% | −0.5% | −0.2 pp | — |
| 6 months | −2.7% | +4.4% | −7.1 pp | — |
| Year to date | +13.4% | +12.3% | +1.0 pp | — |
| 1 year | +17.4% | +13.5% | +3.9 pp | −14.4% |
| 3 years | +28.2% | +76.4% | −48.2 pp | +3.2% |
| 5 years | −11.6% | +63.7% | −75.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 35.7 bn | 33.5 bn | 34.5 bn | 33.8 bn | 36.4 bn | 34.4 bn | 34.3 bn | 34.3 bn |
| SG&A | 8.2 bn | 7.9 bn | 7.8 bn | 7.8 bn | 10.4 bn | 7.6 bn | 9.0 bn | 7.5 bn |
| Operating income | 7.4 bn | 8.0 bn | 8.2 bn | 8.1 bn | 5.0 bn | 8.2 bn | 7.2 bn | 8.7 bn |
| Depreciation & amortisation | 4.5 bn | 4.6 bn | 4.6 bn | 4.6 bn | 4.5 bn | 4.9 bn | 5.0 bn | 5.1 bn |
| Interest expense | 1.6 bn | 1.6 bn | 1.6 bn | 1.7 bn | 1.8 bn | 1.9 bn | 2.0 bn | 2.0 bn |
| Pre-tax income | 6.6 bn | 6.5 bn | 6.6 bn | 6.5 bn | 3.1 bn | 6.8 bn | 5.3 bn | 6.8 bn |
| Income tax | 1.5 bn | 1.5 bn | 1.5 bn | 1.5 bn | 615.0 m | 1.6 bn | 1.3 bn | 1.5 bn |
| Net income | 5.0 bn | 4.9 bn | 5.0 bn | 5.0 bn | 2.3 bn | 5.0 bn | 3.8 bn | 5.2 bn |
| Diluted EPS | 1.18 ≈ | 1.15 | 1.18 | 1.17 | 0.55 ≈ | 1.20 | 0.92 | 1.25 |
| Operating cash flow | 10.4 bn | 7.8 bn | 9.0 bn ≈ | 11.3 bn ≈ | 9.1 bn | 8.0 bn | 10.4 bn ≈ | 11.5 bn ≈ |
| Dividends paid | 2.9 bn | 2.9 bn | 2.9 bn ≈ | 2.9 bn ≈ | 2.9 bn | 2.9 bn | 3.0 bn ≈ | 2.9 bn ≈ |
| Share repurchases | — | 0 | 0 ≈ | 0 ≈ | — | 2.5 bn | 1.0 bn ≈ | 500.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 52 percentile of its own 44-quarter history (min 6.3, median 11.7, max 19.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 130.9 bn | 131.9 bn | 128.3 bn | 133.6 bn | 136.8 bn | 134.0 bn | 134.8 bn | 138.2 bn |
| Revenue YoY | +3.8% | +0.8% | −2.7% | +4.1% | +2.4% | −2.1% | +0.6% | +2.5% |
| Net income | 15.5 bn | 19.3 bn | 17.8 bn | 22.1 bn | 21.3 bn | 11.6 bn | 17.5 bn | 17.2 bn |
| Net income YoY | −48.4% | +24.1% | −7.6% | +24.0% | −3.7% | −45.4% | +50.7% | −1.9% |
| Diluted EPS | 3.76 | 4.65 | 4.30 | 5.32 | 5.06 | 2.75 | 4.14 | 4.06 |
| Diluted EPS YoY | −48.9% | +23.7% | −7.5% | +23.7% | −4.9% | −45.7% | +50.5% | −1.9% |
| net % | 11.9% | 14.6% | 13.9% | 16.5% | 15.5% | 8.7% | 13.0% | 12.4% |
| Free cash flow | 17.7 bn | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 19.0 bn USD
- Financial debt
- 18.6 bn USD
- Net debt
- -430.0 m USD
- Equity
- 105.7 bn USD
- Total assets
- 404.3 bn USD
- Debt / equity
- 0.18x
- Current ratio
- 0.91x
- ROE
- 16.6%
- ROA
- 4.4%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 128.3 bn | 133.6 bn | 136.8 bn | 134.0 bn | 134.8 bn | 138.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| SG&A | 31.6 bn | 28.7 bn | 30.1 bn | 32.7 bn | 34.1 bn | 33.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Operating income | 28.8 bn | 32.4 bn | 30.5 bn | 22.9 bn | 28.7 bn | 29.3 bn | SEC (XBRL)· 17 Feb 2026verified |
| Depreciation & amortisation | 16.7 bn | 16.2 bn | 17.1 bn | 17.6 bn | 17.9 bn | 18.3 bn | SEC (XBRL)· 17 Feb 2026verified |
| EBITDA | 45.5 bn ≈ | 48.7 bn ≈ | 47.6 bn ≈ | 40.5 bn ≈ | 46.6 bn ≈ | 47.6 bn ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Interest expense | 4.2 bn | 3.5 bn | 3.6 bn | 5.5 bn | 6.6 bn | 6.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Pre-tax income | 24.0 bn | 29.4 bn | 28.3 bn | 17.0 bn | 23.0 bn | 22.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Income tax | 5.6 bn | 6.8 bn | 6.5 bn | 4.9 bn | 5.0 bn | 5.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Net income | 17.8 bn | 22.1 bn | 21.3 bn | 11.6 bn | 17.5 bn | 17.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Diluted EPS | 4.30 | 5.32 | 5.06 | 2.75 | 4.14 | 4.06 | SEC (XBRL)· 17 Feb 2026verified |
| Weighted average diluted shares | 4.1 bn | 4.2 bn | 4.2 bn | 4.2 bn | 4.2 bn | 4.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Dividend per share | 2.49 | 2.54 | 2.59 | 2.64 | 2.69 | 2.74 | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 22.2 bn | 2.9 bn | 2.6 bn | 2.1 bn | 4.2 bn | 19.0 bn | SEC (XBRL)· 17 Feb 2026verified |
| Receivables | 23.9 bn | 23.8 bn | — | — | — | — | SEC (XBRL)· 11 Feb 2022verified |
| Inventories | 1.8 bn | 3.1 bn | 2.4 bn | 2.1 bn | 2.2 bn | 2.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| Current assets | 54.6 bn | 36.7 bn | 37.9 bn | 36.8 bn | 40.5 bn | 56.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Property, plant & equipment, net | 94.8 bn | 99.7 bn | 107.4 bn | 108.3 bn | 108.5 bn | 109.5 bn | SEC (XBRL)· 17 Feb 2026verified |
| Goodwill | 24.8 bn | 28.6 bn | 28.7 bn | 22.8 bn | 22.8 bn | 22.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Intangibles (excl. goodwill) | 9.4 bn | 11.7 bn | 11.5 bn | 11.1 bn | 11.1 bn | 10.5 bn | SEC (XBRL)· 17 Feb 2026verified |
| Total assets | 316.5 bn | 366.6 bn | 379.7 bn | 380.3 bn | 384.7 bn | 404.3 bn | SEC (XBRL)· 17 Feb 2026verified |
| Accounts payable | 6.7 bn | 8.0 bn | 8.8 bn | 10.0 bn | 10.4 bn | 12.2 bn | SEC (XBRL)· 17 Feb 2026verified |
| Short-term debt | 320.0 m | 0 | 150.0 m | 0 | 22.6 bn | 18.6 bn | SEC (XBRL)· 17 Feb 2026verified |
| Current liabilities | 39.7 bn | 47.2 bn | 50.2 bn | 53.2 bn | 64.8 bn | 62.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| Equity | 69.3 bn | 83.2 bn | 92.5 bn | 93.8 bn | 100.6 bn | 105.7 bn | SEC (XBRL)· 17 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 41.8 bn | 39.5 bn | 37.1 bn | 37.5 bn | 36.9 bn | 37.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Investing cash flow | -23.5 bn | -67.2 bn | -28.7 bn | -23.4 bn | -18.7 bn | -16.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Financing cash flow | 1.3 bn | 8.3 bn | -8.5 bn | -14.7 bn | -17.1 bn | -5.6 bn | SEC (XBRL)· 17 Feb 2026verified |
| Dividends paid | 10.2 bn | 10.4 bn | 10.8 bn | 11.0 bn | 11.2 bn | 11.5 bn | SEC (XBRL)· 17 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 46 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 191.4 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation53
- Returns87
- Quality77
- Balance sheet38
- Growth1
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 15.69 – 91.18 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDA15.69 – 87.17 (Mid 29.77)6 companies used · median multiple 2.9x · quartiles 1.7x – 7.8xATNI, LUMN, SHEN, T, TDS, UNIT
- Peers: P/E27.15 – 91.18 (Mid 46.22)7 companies used · median multiple 11.8x · quartiles 6.9x – 23.2xATEX, ATNI, CXDO, IDT, T, TDS, UNIT
- Dividend discount (DDM)35.94 – 48.33 (Mid 41.23)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 46/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 18.2% | 85 (vs peers) | 13% |
| Net margin · Quality | 11.8% | 65 (vs peers) | 8% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 0.3% | 3 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | -7.1% | 0 (on a fixed band) | 10% |
| Net debt / EBITDA · Balance sheet | 0.4x | 55 (vs peers) | 13% |
| Interest coverage · Balance sheet | 3.8x | 36 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 0.6x | 0 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 11.8x | 63 (vs peers) | 13% |
| EV/EBITDA · Valuation | 4.3x | 43 (vs peers) | 13% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 6.1% | 87 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet38/100 · 3/3 factors with a value
- Growth1/100 · 2/2 factors with a value
- Quality77/100 · 2/3 factors with a value
- Returns· partial87/100 · 1/2 factors with a value
- Valuation53/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Verizon Communications Inc. (VZ). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 138.2 bn USD in 2025; YoY growth 2.5%; net margin 11.8%; ROE 15.4%; net debt/EBITDA 0.4x.
The estimated value range is 27.15–87.17 USD per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 41.23 USD, the price of 46.17 USD leaves a potential of -10.7% (value / price − 1) and a margin of safety of -12.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 46/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 18.2%
- Shareholder yield (distributions): 6.1%
What contradicts it
- Revenue CAGR 3Y: 0.3%
- EPS CAGR 3Y: -7.1%
- Current ratio: 0.6x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, FCF yield, Payout ratio (FCF).
Versus the vertical median
Telephone Communications (No Radiotelephone) (SIC 4813) · same industry (4-digit SIC) · compared with 20 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AMXAmerica Movil Sab De Cv | 1,508.4 bn | 1,107.5 | 6.8% | 3.2% | −11.2% | +8% / +38% |
| VZVerizon Communications Inc. | 191.4 bn | 11.8 | 15.4% | 11.8% | +2.5% | +17% / +28% |
| TAt&T Inc. | 147.1 bn | 11.8 | 10.5% | 10.2% | +2.7% | −16% / +32% |
| LUMNLumen Technologies, Inc. | 4.6 bn | — | — | -5.8% | −5.4% | −45% / +241% |
| TDSTelephone And Data Systems, Inc. | 4.1 bn | 11.4 | 8.2% | 33.2% | −5.3% | −11% / +83% |
| ATEXAnterix Inc. | 1.5 bn | 22.2 | 27.9% | 933.0% | +7.8% | +278% / +138% |
| UNITUniti Group Inc. | 1.3 bn | 1.7 | 666.9% | 30.4% | +91.5% | −14% / −41% |
| SHENShenandoah Telecommunications Company | 575.2 m | — | -4.4% | -10.2% | +9.1% | −5% / −53% |
| ATNIAtn International, Inc. | 397.3 m | 2.4 | 32.2% | 23.2% | −0.2% | +22% / −15% |
| CXDOCrexendo, Inc. | 174.7 m | 43.6 | 5.6% | 4.5% | +12.0% | −25% / +78% |
| NXPLNextPlat Corp | 21.8 m | — | -43.1% | -17.8% | −17.8% | +34% / −47% |
| IQSTIQSTEL Inc. | 9.0 m | — | -56.0% | -2.2% | +11.9% | −80% / −94% |
| SURGSurgepays, Inc. | 8.2 m | — | — | -47.9% | −6.4% | −92% / −98% |
| CTGGQwest Corp | 0 | — | -15.8% | -40.1% | −13.8% | unavailable / unavailable |
| TIMBTim S.A. | — | — | 17.1% | 16.2% | +4.6% | −22% / +3% |
| TEOTelecom Argentina SA | — | — | -2.4% | -2.0% | +53.0% | −17% / +26% |
| BCEBce Inc. | — | — | 32.5% | 26.6% | +0.2% | −10% / −46% |
| PHIPLDT Inc. | — | — | 29.3% | 14.9% | +2.8% | −19% / −22% |
| KTKT Corporation | — | — | 2.8% | 1.7% | +0.4% | +1% / +41% |
| IDTIDT Corporation | — | 24.3 | 25.4% | 6.7% | +5.4% | +69% / +186% |
| TKCTurkcell Iletisim Hizmetleri A S | — | — | 10.8% | 11.7% | +14.6% | −15% / −5% |
1- and 3-year price returns: for VZ from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 26.41 Total return -38% · Per year -38% | 46.78 Total return 7% · Per year 7% | 70.60 Total return 60% · Per year 60% |
| 3 years | 23.52 Total return -36% · Per year -14% | 47.09 Total return 21% · Per year 6% | 78.33 Total return 93% · Per year 25% |
| 5 years | 20.96 Total return -34% · Per year -8% | 47.40 Total return 34% · Per year 6% | 86.90 Total return 130% · Per year 18% |
- Exit P/E± 11.77
- Net margin± 8.24
- Annual revenue growth± 7.05
- Annual dilution± 0.69
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 26 Oct 2026; since then the company filed 10-Q (29 Oct 2026).
In brief
Verizon Communications Inc. is one of the largest communications, technology and streaming companies in the world, with its core in the US wireless network and fiber-optic broadband. Revenue reached 138.2 billion dollars in 2025, and in the third quarter of 2026 the company reported its strongest third-quarter postpaid phone net additions in five years, which makes it relevant to investors and customers alike.
SWOT
Strengths
- The wireless and fiber-optic networks are among the most extensive in the country, and the company has a large postpaid customer base 1. Operating cash flow supports steady infrastructure investment and debt reduction 3.
- The spectrum portfolio, including C-Band and millimeter wave, gives capacity for growing data traffic 1. Global reach and public sector customers strengthen the position in business markets 1.
- The company reported record quarterly Adjusted EBITDA and margin, which points to operational discipline 3.
Weaknesses
- Equipment revenue has declined, and the change in device subsidy policy reduces short-term sales 3. Dependence on a few large customers in the wholesale segment is a vulnerability 1.
- Total debt remains high, and interest and amortization costs may limit financial flexibility 13.
- The company has recorded asset and business rationalization charges in the past, which signals cost pressures during reorganization 1.
Opportunities
- Fiber expansion and the integration of recent acquisitions could increase broadband subscribers and recurring revenue 13.
- Agreements for AI infrastructure and distributed computing could open new revenue sources in the business segment 3.
- Satellite-based coverage partnerships could help reduce dead zones and strengthen the position in rural areas 2.
Threats
Risks
- Competition and pricinghigh
Pressure from operators, cable companies and resellers could compress margins and new subscriptions, especially if promotions intensify 1.
- Cybersecurityhigh
Attacks on networks and systems, including by state-sponsored actors, can cause disruption, data loss and remediation costs 1.
- Debt and financing costmedium
A high debt load and significant interest costs could limit flexibility if revenue slows or financing costs rise 13.
- Service outagesmedium
Technical failures, natural disasters and human error can affect customers and generate recovery costs, as happened in an outage in early 2026 1.
- Acquisition integration and transformationlow
Integrating Frontier, Starry and the transformation program could be slower or more costly than expected, reducing the anticipated benefits 1.
Investment thesis
What would need to be true (bull case)
- If growth in postpaid subscribers and broadband connections holds, combined with discipline on subsidies, margins and cash flow could keep improving 3.
- Expansion of the fiber network and the recent Frontier integration could open medium-term growth opportunities, especially in urban and suburban areas 13.
- Contracts for AI infrastructure and strategic partnerships could diversify revenue beyond mobile telephony 3.
What would break the thesis
- Aggressive competition and constant promotions could limit revenue per customer growth and compress margins, especially if rivals intensify their offers 1.
- Lower equipment revenue and a high debt load could restrict financial flexibility if subscriber growth slows 13.
- Cybersecurity and regulatory risks could generate unexpected costs or loss of trust after a major incident 1.
What to watch
- Delivery of the postpaid phone net additions guidance and growth in mobility and broadband service revenueQ4 2026
- Completion of the wholesale and NewCo transaction with BT, subject to regulatory approvals2027
- Trend in postpaid churn and promotional acquisition costs under the new competitive conditionsQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 26 Oct 2026; since then the company filed 10-Q (29 Oct 2026).
The business
Activities are split into two reportable segments, Consumer and Business, both operated as strategic business units 1. The Consumer segment brings in most of the revenue, while Business serves companies, public sector customers and telecom carriers 1. From 2026 the company reports revenue by product category, separating mobility and broadband service revenue from wireless equipment and other revenue 2.
The recent strategy emphasizes profitability, discipline in device subsidies and growth of high-value customer accounts, while fiber and FWA extend the broadband offer 3. Quarterly results reported in October 2026 show improving cash flow alongside capital investment guided for 2026 3.
Segments
Verizon Consumer Group
The Consumer segment generated revenues of 106.8 billion dollars in 2025, about 77% of consolidated revenue 1. It includes postpaid and prepaid wireless services, fiber and FWA broadband, and wholesale network access for mobile virtual network operators 1. At the end of 2025 it had about 116 million wireless retail connections, most of them postpaid 1.
Market context
The US telecommunications market is highly competitive, and new technologies have blurred the lines between wireless, cable, internet and traditional telephone services 1. Growth in wireless customers is expected to moderate compared with past periods, which intensifies competition for new customers 1. Demand for spectrum and higher-bandwidth connections is expected to keep rising, driven by intensive data use and AI-related requirements 1.
At the same time, the shift from linear television to OTT offerings and consolidation through acquisitions and partnerships, such as the agreement in principle with two other operators for rural coverage, is changing market structure 12. Pricing pressure and aggressive promotions remain the defining competitive factors 1.
Trends
- Fiber and FWA expansiontailwind
The company is expanding its fiber network toward a medium-term target of 40 to 50 million passings, and FWA contributes to growth in broadband connections 3. If this expansion turns into stable subscriptions, it could support revenue over the longer term 3.
- Network and AI demandmixed
Demand generated by artificial intelligence and distributed networks could open new infrastructure contracts, such as the agreement with a major cloud provider 3. However, deployment costs and the risk that AI does not deliver the expected benefits remain uncertain 1.
- Intense competition and price pressureheadwind
Rival operators use aggressive offers, bundles with premium content and discounts, sometimes targeting the company's own customers directly, which can compress margins 1. If this pressure persists, it could affect subscriber growth and average revenue 1.
Competitive position
The main competitors in wireless are other national operators such as AT&T and T-Mobile, together with regional operators and resellers that buy wholesale service, including cable companies 1. In fiber and broadband, competition comes from cable companies, satellite providers, OTT operators and internet service providers 1.
In the business segment, competition comes from global integrated service providers, system integrators and large IT companies that are growing through acquisitions and alliances in cloud and software-defined networking 1. In wholesale, rivals are traditional carriers and network and cable companies 1.
- AT&T Inc.T
National US wireless operator named in the source as a main competitor in mobile connectivity 1.
- T-Mobile US, Inc.TMUS
National wireless operator and direct rival in postpaid subscriptions and promotional offers 1.
- Comcast CorporationCMCSA
Cable company that resells wireless services and competes in fixed broadband 1.
- Charter Communications, Inc.CHTR
Cable operator offering bundles with mobile services and competing in internet and television 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- SpaceX is working with Qualcomm to build its Starlink Mobile 5G networkThe Verge · 04 Nov 2026 · EN
- Elon Musk's next target: A major shake-up of America's wireless marketAxios · 03 Nov 2026 · EN
- Anthropic's IPO prospectus is big on promises, short on answers to tough questionsThe Register · 02 Nov 2026 · EN
- Looking for income? These dividend stocks have high yields that seem well supported.MarketWatch — Top Stories · 29 Oct 2026 · EN
- Elon Musk says he can build a wireless carrier in two to three years. Is that possible?MarketWatch — Top Stories · 28 Oct 2026 · EN
- Фондовые индексы США выросли вслед за акциями ИИ-компанийInterfax Russia (RU) · 27 Oct 2026 · RU
- Verizon Sees Customer Surge, But Competition Fears PersistBloomberg Markets · 26 Oct 2026 · EN
- Verizon Beats, Brazil in Focus | Stock MoversBloomberg Markets · 26 Oct 2026 · EN
- Stocks making the biggest moves premarket: Verizon, Tesla, Moderna & moreCNBC — Top News · 26 Oct 2026 · EN
- Verizon’s stock rises as subscriber surge impresses Wall StreetMarketWatch — Top Stories · 26 Oct 2026 · EN
- Verizon lifts annual forecasts, signs more than $2 billion AI infrastructure deal with AWSCNBC — Top News · 26 Oct 2026 · EN
- Verizon lifts annual forecasts, signs more than $2 billion AI infrastructure deal with AWSCNA (Channel NewsAsia) · 26 Oct 2026 · EN
- Dow scade cu 500 de puncte pe fondul creșterii petrolului și al presiunii asupra acțiunilor tech - InvezzSurge — Google News · 23 Oct 2026 · RO
- SpaceX’s mobile carrier push reportedly involves tapping into 80,000 cell sitesThe Verge · 23 Oct 2026 · EN
- The mobile ambitions of SpaceX see telecom stocks get hit again. What the latest developments mean.MarketWatch — Top Stories · 23 Oct 2026 · EN
- Wall Street își revine, acțiunile IA conduc raliul. - Vietnam.vnSurge — Google News · 22 Oct 2026 · RO
- SpaceX’s ambitious, expensive gamble to replace AT&T, T-Mobile, and VerizonThe Verge · 17 Oct 2026 · EN
- The SpaceX threat to telecom is real. How it could play outCNBC — Top News · 13 Oct 2026 · EN
- Индексы США уверенно выросли по итогам торгов в пятницуInterfax Russia (RU) · 12 Oct 2026 · RU
- Nickelback bringing world tour to Indianapolis next yearSurge — GDELT DOC · 10 Oct 2026 · RO
SEC filings
- Quarterly report29 Oct 2026
- Current report26 Oct 2026Results of operations · Financial statements and exhibits
- Current report29 Sept 2026Departure or appointment of officers
- Quarterly report31 Jul 2026
- Current report24 Jul 2026Departure or appointment of officers
- Current report24 Jul 2026Results of operations · Financial statements and exhibits
- Current report29 Jun 2026Regulation FD disclosure
- Current report17 Jun 2026Other events · Financial statements and exhibits
- Current report02 Jun 2026Other events · Financial statements and exhibits
- Current report28 May 2026Departure or appointment of officers · Shareholder vote
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Verizon Communications Inc. · 17 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Verizon Communications Inc. · 31 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Verizon Communications Inc. · 26 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.