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Friday 6 November 2026 Export VZ’s income statement to Excel — free account

Verizon Communications Inc.

VZ Communication Services Telecom Services

Verizon Communications Inc.’s revenue for fiscal 2025 (year ended December 2025) was $138.2 billion, up 2.52% from fiscal 2024.

Revenue
+1.45%
EPS
+6.84%
Free cash flow
−33.3%
Total debt
+13.3%

Quarter to September 2026, against a year earlier

45.80 0.32 −0.69%
Market cap
$191.2B
P/E
11.8×
Fwd P/E
9.9×
Dividend yield
6.10%
F-score
4/9
Altman Z
1.24
Beneish M
−2.69
Dividend safety
52/100
Overview Business Profile Earnings & Analysis
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Verizon Communications Inc. (VZ) Gross margin

Alert me on Gross margin

Verizon Communications Inc.'s gross margin over the twelve months to 30 September 2026 was 59.6%, up 0.7 percentage points from fiscal 2025 (58.9%). Over the past ten years it has ranged from 56.8% (fiscal 2022) to 60.1% (fiscal 2020); the current reading is higher than 64% of that period. That is above the Telecom Services industry median of 48.8% and above the Communication Services sector median of 51.3%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 58.9% (0.95)
FY2024 59.9% 0.84
FY2023 59.0% 2.24
FY2022 56.8% (1.07)
FY2021 57.9% (2.23)
FY2020 60.1% 1.59
FY2019 58.5% 0.92
FY2018 57.6% (0.32)
FY2017 57.9% (0.27)
FY2016 58.2% (1.90)

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 61.9% 0.06
Jun 2026 61.8% 1.50
Mar 2026 60.3% 5.59
Dec 2025 54.7% (5.83)
43 more quarters

Against its own ten years

Low 56.8% High 60.1%
Ten-year median 58.5%
Current reading's percentile 86

Gross margin against peers

Company Gross margin
AMX America Movil, S.A.B. de C.V. Unsponsored ADR compare 66.5%
TMUS T-Mobile US, Inc. compare 62.1%
T AT&T Inc. compare 59.7%
VZ Verizon Communications Inc. 59.6%
CHT Chunghwa Telecom Co., Ltd. compare 36.5%
CMCSA Comcast Corporation compare 34.6%
ECHO EchoStar Corporation compare 32.5%
VOD Vodafone Group PLC compare 32.1%
ORANY Orange compare 16.3%
Telecom Services industry median 48.8%
Communication Services sector median 51.3%
Market median 45.1%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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