Communication Services · Integrated Telecommunication Services · US stock · price as of 16 Oct 2026
Key indicators
Price
$44.79
52-week range
$35.99 – $50.88
Market cap
$186.8B
P/E (trailing)
11.4×
EV / EBITDA
7.4×
Free-cash-flow yield
20.8%
Dividend yield
6.3%
Revenue (last 12 months)
$138.9B
Revenue growth (3y a year)
0.3%
Operating margin
20.5%
Return on invested capital
8.1%
Net debt / EBITDA
3.4×
Fair value
Blended fair value$91.25 range $83 – $102
Versus priceUndervalued+104% to fair value
Peer multiples
$81.30
Fundamentals-adjusted multiple
$106.07
10-year DCF (market-scaled)
$86.39
Earnings power value (floor, not blended)
$45.07
Model uncertainty
Medium
X-Ray Score
50/ 100 · Medium confidence · ahead of 39% of sector peers
Valuation75
Growth23
Profitability52
Financial health23
Dividends86
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Verizon is a US telecommunications company that provides wireless, broadband and network services. Consumers use it for mobile phone plans and home internet, including fibre service under the Fios name, while businesses and government agencies use it for mobile, fixed and managed network services. It owns and operates a large wireless network in the United States, and its business is organised into consumer and business segments.
Most revenue comes from recurring monthly service charges, supplemented by the sale of phones and other devices. Revenue was $138.9 billion over the last twelve months, with growth of 0.3% a year over the last three years. The operating margin is 20.5%, and the business earns a profit of 8% on the capital invested in it. Net debt is 3.4 times EBITDA. The dividend yield is 6.3%.
StocksXray gives Verizon Communications Inc an X-Ray Score of 50 out of 100 (medium confidence), ahead of 39% of the S&P 500 stocks in its sector. Its strongest lens is dividends (86) and its weakest is growth (23).
Our fair value blend is $91.25 (range $83.49 to $102.26). At $44.79 the stock trades 51% below that blend, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Verizon Communications Inc (VZ)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$37.72
$30.17
$30.99
$35.06
$38.19
$44.79
Market cap
$156.5B
$126.8B
$130.6B
$148.1B
$161.6B
$186.8B
P/E
7.1×
6.0×
11.3×
8.5×
9.4×
11.4×
EV / revenue
2.3×
2.0×
2.1×
2.1×
2.2×
2.5×
EV / EBITDA
6.3×
5.8×
6.9×
6.2×
6.4×
7.4×
Price / free cash flow
4.0×
3.4×
3.5×
4.0×
4.4×
4.8×
Free-cash-flow yield
25.3%
29.3%
28.7%
24.9%
23.0%
20.8%
Price / book
1.9×
1.4×
1.4×
1.5×
1.5×
1.8×
Dividend yield
6.72%
8.57%
8.50%
7.66%
7.16%
6.28%
Fundamentals checklist ● 2 Good · ● 4 Average · ● 7 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−5.4%Average
Risk models
Altman Z score1.2×Average
Piotroski F-Score4 of 9Bad
Growth
EPS growth (3y)−7.1%Bad
Revenue growth (3y)0.3%Bad
Growth consistency80%Average
Balance sheet
Current ratio0.6×Bad
Net debt / EBITDA3.4×Bad
Interest cover3.9×Bad
Valuation
Fair value vs price2.0×Good
EBIT / EV yield8.1%Good
Profitability
Return on invested capital8.1%Bad
Operating margin20.5%Average
XStocksXray
Verizon Communications Inc (VZ)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
133,613
136,835
133,974
134,788
138,191
138,895
Gross profit
–
–
–
–
–
–
Operating income
32,448
30,467
22,877
28,686
29,259
28,530
Net income
22,618
21,748
12,095
17,949
17,608
16,606
Diluted EPS ($)
5.32
5.06
2.75
4.14
4.06
3.94
Free cash flow
39,539
37,141
37,475
36,912
37,137
38,799
Gross margin
–
–
–
–
–
–
Operating margin
24.3%
22.3%
17.1%
21.3%
21.2%
20.5%
Net margin
16.9%
15.9%
9.0%
13.3%
12.7%
12.0%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
366,596
379,680
380,255
384,711
404,258
410,186
Cash
2,921
2,605
2,065
4,194
19,048
1,752
Total debt
150,868
150,789
150,674
144,079
158,591
165,231
Equity
83,200
92,463
93,799
100,575
105,741
105,196
Dividend per share ($)
2.54
2.59
2.64
2.69
2.74
2.80
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.