VZ Verizon Communications Inc. Common Stock
$47.94
Price · May 20, 2026
Fundamentals as of May 1, 2026
52W Range
$38–$52
72% of range
Analyst Rating
HOLD
35 analysts
Price Target
$52
+8% upside
P/E (TTM)
10.0
ROE
16.7%
Net Profit Margin
12.4%
VZ Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$47.94
Market Cap
$174.79B
P/E (TTM)
10.0
EPS (TTM)
$4.06
Revenue (TTM)
$138.19B
Div Yield
6.6%
ROE
16.7%
Debt/Equity
0.2
52W Range
$38 – $52
VZ Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$138.19B
2016-12-31
→
2025-12-31
EPS
$4.06
2016-12-31
→
2025-12-31
Free Cash Flow
—
2016-12-31
→
2018-12-31
Margins
12.4%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
VZ
Peer Median
P/E (TTM)
10.0
8.5
P/S (TTM)
1.3
1.1
P/B
1.7
1.6
EV / EBITDA
6.0
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
VZ
Peer Median
Operating Margin
21.2%
—
Net Profit Margin
12.4%
9.5%
ROA
4.3%
5.3%
ROE
16.7%
20.4%
ROIC
18.2%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
VZ
Peer Median
Debt / Equity
0.2
89.4
Current Ratio
0.9
0.9
Quick Ratio
0.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
VZ
Peer Median
Revenue YoY
2.5%
—
Revenue CAGR 3Y
0.33%
—
Revenue CAGR 5Y
1.5%
—
EPS YoY
-1.9%
—
Net Income YoY
-1.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
VZ
Peer Median
Payout Ratio
66.8%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
6.6%
Payout Ratio
66.8%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| April 10, 2026 | $0.7080 |
| Jan. 12, 2026 | $0.6900 |
| Oct. 10, 2025 | $0.6900 |
| July 10, 2025 | $0.6780 |
| April 10, 2025 | $0.6780 |
| Jan. 10, 2025 | $0.6780 |
| Oct. 10, 2024 | $0.6780 |
| July 10, 2024 | $0.6650 |
| April 9, 2024 | $0.6650 |
| Jan. 9, 2024 | $0.6650 |
| Oct. 6, 2023 | $0.6650 |
| July 7, 2023 | $0.6530 |
| April 6, 2023 | $0.6530 |
| Jan. 9, 2023 | $0.6530 |
| Oct. 6, 2022 | $0.6530 |
| July 7, 2022 | $0.6400 |
| April 7, 2022 | $0.6400 |
| Jan. 7, 2022 | $0.6400 |
| Oct. 7, 2021 | $0.6400 |
| July 8, 2021 | $0.6280 |
VZ Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
35 analysts
- Strong Buy 7 20.0%
- Buy 11 31.4%
- Hold 17 48.6%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
22 analysts · 2026-05-17
Median
$50.50
Now
$47.94
Low
$46.00
High
$71.00
Median target
$50.50
+5.3%
Mean target
$51.85
+8.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $1.28 | $1.23 | 0.05% |
| Dec. 31, 2025 | $1.09 | $1.09 | 0.00% |
| Sept. 30, 2025 | $1.21 | $1.22 | -0.01% |
| June 30, 2025 | $1.22 | $1.22 | 0.00% |
| March 31, 2025 | $1.19 | $1.18 | 0.01% |
Peer Comparison Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VZ | $174.79B | 10.0 | 2.5% | 12.4% | 16.7% | — |
| T | $189.31B | 8.2 | 2.7% | 17.5% | 17.7% | — |
| CMCSA | — | 5.2 | -0.02% | 16.2% | 21.9% | — |
| UNIT | $1.64B | 1.4 | 91.5% | 58.4% | -125.9% | — |
| IDT | — | 19.6 | 2.1% | 6.2% | 27.6% | 36.2% |
| GLIBA | — | -3.7 | 2.9% | -29.5% | -19.9% | — |
| SHEN | $635M | -16.3 | 9.1% | -9.2% | -3.7% | — |
| ATNI | $348M | -16.5 | -0.15% | -2.1% | -3.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2019 | 2018 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $138.19B | $134.79B | $133.97B | $136.84B | $133.61B | $128.29B | $131.87B | · | $130.86B | · | $126.03B | $125.98B | |
| Cost of Revenue | · | · | · | · | · | · | · | · | · | · | $22.15B | $22.24B | |
| SG&A Expense | $33.82B | $34.11B | $32.74B | $30.14B | $28.66B | $31.57B | $29.90B | · | $31.08B | · | $28.59B | $28.10B | |
| Operating Expenses | $108.93B | $106.10B | $111.10B | $106.37B | $101.17B | $99.49B | $101.49B | · | $108.58B | · | $98.61B | $96.73B | |
| Operating Income | $29.26B | $28.69B | $22.88B | $30.47B | $32.45B | $28.80B | $30.38B | · | $22.28B | · | $27.43B | $29.25B | |
| Interest Expense | · | · | $5.52B | $3.61B | $3.48B | $4.25B | $4.73B | · | $4.83B | · | $4.73B | $4.38B | |
| Other Non-op | $107M | $995M | $-313M | $1.37B | $312M | $-539M | $-2.90B | · | $2.36B | · | $-2.02B | $-3.79B | |
| Pretax Income | $22.67B | $22.98B | $16.99B | $28.27B | $29.42B | $23.97B | $22.73B | · | $19.62B | · | $20.59B | $20.99B | |
| Income Tax | $5.06B | $5.03B | $4.89B | $6.52B | $6.80B | $5.62B | $2.94B | · | $3.58B | · | $-9.96B | $7.38B | |
| Net Income | $17.17B | $17.51B | $11.61B | $21.26B | $22.07B | $17.80B | $19.27B | · | $15.53B | · | $30.10B | $13.13B | |
| EPS (Basic) | $4.06 | $4.15 | $2.76 | $5.06 | $5.32 | $4.30 | $4.66 | · | $3.76 | · | $7.37 | $3.22 | |
| EPS (Diluted) | $4.06 | $4.14 | $2.75 | $5.06 | $5.32 | $4.30 | $4.65 | · | $3.76 | · | $7.36 | $3.21 | |
| Shares (Basic) | 4,226,000,000 | 4,218,000,000 | 4,211,000,000 | 4,202,000,000 | 4,148,000,000 | 4,140,000,000 | 4,138,000,000 | · | 4,128,000,000 | · | 4,084,000,000 | 4,080,000,000 | |
| Shares (Diluted) | 4,231,000,000 | 4,223,000,000 | 4,215,000,000 | 4,204,000,000 | 4,150,000,000 | 4,142,000,000 | 4,140,000,000 | · | 4,132,000,000 | · | 4,089,000,000 | 4,086,000,000 | |
| EBITDA | $29.26B | $28.69B | $22.88B | $30.47B | $32.45B | $28.80B | $30.38B | · | $22.28B | · | $27.41B | $27.06B |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2019 | 2018 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $19.05B | $4.19B | $2.06B | $2.60B | $2.92B | $22.17B | $2.59B | · | $2.75B | · | $2.08B | $2.88B | |
| Receivables | · | · | · | · | $23.85B | $23.92B | $25.43B | · | $25.10B | $23.55B | $23.49B | $17.51B | |
| Inventory | $2.44B | $2.25B | $2.06B | $2.39B | $3.06B | $1.80B | $1.42B | · | $1.34B | · | $1.03B | $1.20B | |
| Prepaid Expense | $8.34B | $7.97B | $7.61B | $8.36B | $6.91B | $6.71B | $8.03B | $5.12B | $5.45B | $5.32B | $3.31B | $3.92B | |
| Current Assets | $56.92B | $40.52B | $36.81B | $37.86B | $36.73B | $54.59B | $37.47B | · | $34.64B | · | $29.91B | $26.39B | |
| PP&E (Net) | $109.47B | $108.52B | $108.31B | $107.43B | $99.70B | $94.83B | $91.92B | · | $89.29B | · | $88.57B | $84.75B | |
| PP&E (Gross) | $337.99B | $331.41B | $320.11B | $307.69B | $289.90B | $279.74B | $265.73B | · | $252.84B | · | $246.50B | $232.22B | |
| Accum. Depreciation | $228.52B | $222.88B | $211.80B | $200.25B | $190.20B | $184.90B | $173.82B | · | $163.55B | · | $157.93B | $147.46B | |
| Goodwill | $22.84B | $22.84B | $22.84B | $28.67B | $28.60B | $24.77B | $24.39B | · | $24.61B | · | $29.17B | $27.20B | |
| Intangibles | $10.46B | $11.13B | $11.06B | $11.46B | $11.68B | $9.41B | $9.50B | · | $9.78B | · | $10.25B | $8.90B | |
| Other Non-current Assets | $23.25B | $19.77B | $19.89B | $17.26B | $13.33B | $10.88B | $10.14B | $9.67B | $11.72B | $10.97B | $9.79B | $8.54B | |
| Total Assets | $404.26B | $384.71B | $380.25B | $379.68B | $366.60B | $316.48B | $291.73B | · | $264.83B | · | $257.14B | $244.18B | |
| Accounts Payable | $24.98B | $10.43B | $10.02B | $8.75B | $8.04B | $6.67B | $7.72B | $22.50B | $7.23B | · | $7.06B | $7.08B | |
| Accrued Liabilities | $4.53B | $5.06B | $5.19B | $7.82B | $9.12B | $6.05B | $5.98B | · | $5.95B | · | $6.76B | $5.72B | |
| Short-term Debt | $441M | $65M | $0 | $150M | $0 | $320M | $0 | · | $150M | · | $150M | $168M | |
| Current Liabilities | $62.37B | $64.77B | $53.22B | $50.17B | $47.16B | $39.66B | $44.87B | · | $37.93B | · | $33.04B | $30.34B | |
| Capital Leases | $18.95B | $19.93B | $20.00B | $21.56B | $23.20B | $18.00B | $18.39B | $19.20B | $589M | · | $638M | $615M | |
| Deferred Tax | $48.72B | $46.73B | $45.78B | $43.44B | $40.69B | $35.71B | $34.70B | $33.93B | $33.80B | $32.21B | $31.23B | $45.96B | |
| Other Non-current Liabilities | $17.85B | $19.33B | $16.56B | $18.40B | $13.51B | $12.01B | $12.26B | $12.11B | $13.92B | $12.34B | $12.43B | $12.24B | |
| Total Debt | $19.06B | $22.70B | $12.97B | $10.11B | $7.44B | $6.21B | $0 | · | $150M | · | $150M | · | |
| Common Stock | · | · | · | $429M | $429M | $429M | $429M | · | $429M | · | $424M | $424M | |
| Paid-in Capital | $13.37B | $13.47B | $13.63B | $13.42B | $13.86B | $13.40B | $13.42B | · | $13.44B | · | $11.10B | $11.18B | |
| Retained Earnings | $94.74B | $89.11B | $82.92B | $82.38B | $71.99B | $60.46B | $53.15B | $43.95B | $43.54B | $37.87B | $35.63B | $15.06B | |
| Treasury Stock | $3.25B | $3.58B | $3.82B | $4.01B | $4.10B | $6.72B | $6.82B | · | $6.99B | · | $7.14B | $7.26B | |
| AOCI | $-1.73B | $-923M | $-1.38B | $-1.86B | $-927M | $-71M | $998M | · | $2.37B | $3.29B | $2.66B | $2.67B | |
| Stockholders' Equity | $105.74B | $100.58B | $93.80B | $92.46B | $83.20B | $69.27B | $62.84B | · | $54.71B | · | $44.69B | $24.03B | |
| Liabilities + Equity | $404.26B | $384.71B | $380.25B | $379.68B | $366.60B | $316.48B | $291.73B | · | $264.83B | · | $257.14B | $244.18B | |
| Shares Outstanding | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | · | · | · | · | · | · |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2019 | 2018 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $18.35B | $17.89B | $17.62B | $17.10B | $16.21B | $16.72B | $16.68B | · | $17.40B | · | $16.95B | $15.93B | |
| Stock-based Comp | · | · | · | · | · | · | · | · | · | · | · | $400M | |
| Deferred Tax | $2.34B | $815M | $2.39B | $2.97B | $4.26B | $1.55B | $1.23B | · | $389M | · | $-14.46B | $-1.06B | |
| Amort. of Intangibles | $3.00B | $2.78B | $2.69B | $2.51B | $2.09B | $2.44B | $2.31B | · | $2.22B | · | $2.21B | $1.70B | |
| Operating Cash Flow | $37.14B | $36.91B | $37.48B | $37.14B | $39.54B | $41.77B | $35.75B | · | $34.34B | · | $24.32B | $21.69B | |
| CapEx | · | · | · | · | · | · | · | · | $16.66B | · | $17.25B | $17.06B | |
| Investing Cash Flow | $-16.66B | $-18.67B | $-23.43B | $-28.66B | $-67.15B | $-23.51B | $-17.58B | · | $-17.93B | · | $-18.46B | $-9.87B | |
| Debt Issued | $27.60B | $15.60B | $8.60B | $17.80B | $41.40B | $31.50B | $18.70B | · | $10.80B | · | $32.00B | $12.96B | |
| Net Debt Issued | $27.60B | $15.60B | $8.60B | $17.80B | $41.40B | $31.50B | $18.70B | · | $10.80B | · | $27.71B | $12.96B | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | $3M | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | $0 | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | $0 | $3M | |
| Dividends Paid | $11.48B | $11.25B | $11.03B | $10.80B | $10.45B | $10.23B | $10.02B | · | $9.77B | · | $9.47B | $9.26B | |
| Financing Cash Flow | $-5.61B | $-17.10B | $-14.66B | $-8.53B | $8.28B | $1.32B | $-18.16B | · | $-15.38B | · | $-6.15B | $-13.38B | |
| Net Change in Cash | $14.86B | $1.14B | $-614M | $-50M | $-19.34B | $19.58B | $1M | · | $1.03B | · | $-289M | $-1.56B | |
| Taxes Paid | $3.58B | $5.63B | $2.34B | $2.74B | $3.04B | $2.73B | $3.58B | · | $2.21B | · | $4.43B | $9.58B | |
| Free Cash Flow | · | · | · | · | · | · | · | · | $17.68B | · | $8.06B | $5.66B | |
| Levered FCF | · | · | · | · | · | · | · | · | $13.73B | · | $1.04B | $2.82B |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2019 | 2018 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 21.2% | 21.3% | 17.1% | 22.3% | 24.3% | 22.4% | 23.0% | · | 17.0% | · | 21.8% | 21.5% | |
| Net Margin | 12.4% | 13.0% | 8.7% | 15.5% | 16.5% | 13.9% | 14.6% | · | 11.9% | · | 23.9% | 10.4% | |
| Pretax Margin | 16.4% | 17.1% | 12.7% | 20.7% | 22.0% | 18.7% | 17.2% | · | 15.0% | · | 16.3% | 16.7% | |
| EBITDA Margin | 21.2% | 21.3% | 17.1% | 22.3% | 24.3% | 22.4% | 23.0% | · | 17.0% | · | 21.8% | 21.5% | |
| ROA | 4.3% | 4.6% | 3.1% | 5.7% | 6.5% | 5.9% | 6.9% | · | 5.9% | · | 12.0% | 5.4% | |
| ROE | 16.7% | 17.7% | 12.0% | 23.5% | 27.3% | 26.2% | 31.3% | · | 28.0% | · | 87.6% | 62.7% | |
| ROIC | 18.2% | 18.2% | 15.3% | 22.9% | 27.5% | 29.2% | 42.1% | · | 33.2% | · | 90.7% | 73.0% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2019 | 2018 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.9 | 0.6 | 0.7 | 0.8 | 0.8 | 1.4 | 0.8 | · | 0.9 | · | 0.9 | 0.9 | |
| Quick Ratio | 0.3 | 0.1 | 0.0 | 0.1 | 0.6 | 1.2 | 0.6 | · | 0.7 | · | 0.8 | 0.7 | |
| Debt / Equity | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | · | 0.0 | · | 0.0 | · | |
| Interest Coverage | · | · | 4.1 | 8.4 | 9.3 | 6.8 | 6.4 | · | 4.6 | · | 5.8 | 6.2 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2019 | 2018 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | · | 0.5 | · | 0.5 | 0.5 | |
| Inventory Turnover | · | · | · | · | · | · | · | · | · | · | 19.8 | 18.1 | |
| Receivables Turnover | · | · | · | · | 5.6 | 5.2 | 5.2 | · | 5.4 | · | 6.1 | 8.1 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2019 | 2018 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 2.5% | 0.61% | -2.1% | 2.4% | 4.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 0.33% | 0.29% | 1.5% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 1.5% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -1.9% | 50.5% | -45.6% | -4.9% | 23.7% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -7.1% | -8.0% | -13.8% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -1.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -1.9% | 50.7% | -45.4% | -3.7% | 23.9% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -6.9% | -7.4% | -13.3% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -0.71% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 2.3% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2019 | 2018 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $138.19B | $134.79B | $133.97B | $136.84B | $133.61B | $128.29B | $131.87B | · | $130.86B | · | $126.03B | $125.98B | |
| Net Income TTM | $17.17B | $17.51B | $11.61B | $21.26B | $22.07B | $17.80B | $19.27B | · | $15.53B | · | $30.10B | $13.13B | |
| Market Cap | $174.79B | $171.61B | $161.79B | · | · | · | · | · | · | · | · | · | |
| Enterprise Value | $174.80B | $190.12B | $172.70B | · | · | · | · | · | · | · | · | · | |
| P/E | 10.0 | 9.7 | 13.7 | 7.8 | 9.8 | 13.7 | 13.2 | · | 15.0 | · | 7.2 | 16.6 | |
| P/S | 1.3 | 1.3 | 1.2 | · | · | · | · | · | · | · | · | · | |
| P/B | 1.7 | 1.7 | 1.7 | · | · | · | · | · | · | · | · | · | |
| P / Tangible Book | 2.4 | 2.6 | 2.7 | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | 4.7 | 4.6 | 4.3 | · | · | · | · | · | · | · | · | · | |
| EV / EBITDA | 6.0 | 6.6 | 7.5 | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 1.3 | 1.4 | 1.3 | · | · | · | · | · | · | · | · | · | |
| Dividend Yield | 6.6% | 6.6% | 6.8% | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | 10.0% | 10.3% | 7.3% | 12.8% | 10.2% | 7.3% | 7.6% | · | 6.7% | · | 13.9% | 6.0% | |
| Payout Ratio | 66.8% | 64.3% | 94.9% | 50.8% | 47.3% | 57.5% | 52.0% | · | 62.9% | · | 31.5% | 70.6% | |
| Annual Payout | $11.48B | $11.25B | $11.03B | $10.80B | $10.45B | $10.23B | $10.02B | · | $9.77B | · | $9.47B | $9.26B |
Income Statement 14
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $34.44B | $36.38B | $33.82B | $34.50B | $33.48B | $35.68B | $33.33B | $32.80B | $32.98B | $35.13B | $33.34B | $32.60B | $32.91B | $35.25B | $34.24B | $33.79B | |
| SG&A Expense | $7.63B | $10.38B | $7.75B | $7.81B | $7.87B | $8.24B | $9.71B | $8.02B | $8.14B | $8.99B | $8.00B | $8.25B | $7.51B | $8.05B | $7.42B | $7.50B | |
| Operating Expenses | $26.20B | $31.38B | $25.72B | $26.33B | $25.51B | $28.26B | $27.40B | $24.98B | $25.46B | $34.53B | $25.86B | $25.38B | $25.33B | $28.03B | $26.35B | $26.24B | |
| Operating Income | $8.24B | $5.00B | $8.11B | $8.17B | $7.98B | $7.42B | $5.93B | $7.82B | $7.52B | $600M | $7.47B | $7.22B | $7.58B | $7.22B | $7.89B | $7.55B | |
| Interest Expense | · | · | · | · | · | · | · | $1.70B | $1.64B | · | $1.43B | $1.28B | $1.21B | · | $937M | $785M | |
| Other Non-op | $477M | $-185M | $92M | $79M | $121M | $797M | $72M | $-72M | $198M | $-807M | $170M | $210M | $114M | $2.69B | $-439M | $49M | |
| Pretax Income | $6.78B | $3.06B | $6.53B | $6.61B | $6.47B | $6.57B | $4.30B | $6.03B | $6.08B | $-1.82B | $6.19B | $6.11B | $6.50B | $8.81B | $6.52B | $6.86B | |
| Income Tax | $1.64B | $615M | $1.47B | $1.49B | $1.49B | $1.45B | $891M | $1.33B | $1.35B | $756M | $1.31B | $1.35B | $1.48B | $2.11B | $1.50B | $1.54B | |
| Net Income | $5.04B | $2.34B | $4.95B | $5.00B | $4.88B | $5.00B | $3.31B | $4.59B | $4.60B | $-2.71B | $4.76B | $4.65B | $4.91B | $6.58B | $4.90B | $5.20B | |
| EPS (Basic) | $1.20 | $0.55 | $1.17 | $1.18 | $1.16 | $1.19 | $0.78 | $1.09 | $1.09 | $-0.64 | $1.13 | $1.10 | $1.17 | $1.56 | $1.17 | $1.24 | |
| EPS (Diluted) | $1.20 | $0.56 | $1.17 | $1.18 | $1.15 | $1.18 | $0.78 | $1.09 | $1.09 | $-0.65 | $1.13 | $1.10 | $1.17 | $1.56 | $1.17 | $1.24 | |
| Shares (Basic) | 4,205,000,000 | -8,448,000,000 | 4,228,000,000 | 4,224,000,000 | 4,222,000,000 | -8,432,000,000 | 4,220,000,000 | 4,215,000,000 | 4,215,000,000 | -8,417,000,000 | 4,213,000,000 | 4,208,000,000 | 4,207,000,000 | -8,402,000,000 | 4,202,000,000 | 4,201,000,000 | |
| Shares (Diluted) | 4,210,000,000 | -8,456,000,000 | 4,233,000,000 | 4,228,000,000 | 4,226,000,000 | -8,442,000,000 | 4,225,000,000 | 4,221,000,000 | 4,219,000,000 | -8,425,000,000 | 4,216,000,000 | 4,213,000,000 | 4,211,000,000 | -8,404,000,000 | 4,204,000,000 | 4,202,000,000 | |
| EBITDA | $8.24B | · | $8.11B | $8.17B | $7.98B | · | $5.93B | $7.82B | $7.52B | · | $7.47B | $7.22B | $7.58B | · | $7.89B | $7.55B |
Balance Sheet 28
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $8.37B | $19.05B | $7.71B | $3.44B | $2.26B | $4.19B | $4.99B | $2.43B | $2.37B | · | $4.21B | $4.80B | $2.23B | · | $2.08B | $1.86B | |
| Receivables | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $23.91B | |
| Inventory | $2.32B | $2.44B | $2.70B | $2.14B | $2.20B | $2.25B | $2.52B | $1.84B | $2.08B | · | $2.24B | $1.90B | $2.38B | · | $3.13B | $3.65B | |
| Prepaid Expense | $7.38B | $8.34B | $7.68B | $7.00B | $7.01B | $7.97B | $7.18B | $8.18B | $8.20B | · | $8.07B | $7.50B | $8.25B | · | $10.86B | $8.09B | |
| Current Assets | $44.72B | $56.92B | $44.01B | $38.85B | $37.35B | $40.52B | $40.64B | $38.06B | $37.96B | · | $38.12B | $37.39B | $35.72B | · | $39.75B | $37.50B | |
| PP&E (Net) | $125.97B | $109.47B | $108.47B | $108.07B | $107.92B | $108.52B | $107.53B | $107.89B | $107.86B | · | $107.49B | $107.27B | $106.99B | · | $103.00B | $101.31B | |
| PP&E (Gross) | $357.65B | $337.99B | $334.76B | $332.53B | $331.89B | $331.41B | $327.56B | $324.98B | $322.27B | · | $316.77B | $313.42B | $310.52B | · | $300.87B | $296.70B | |
| Accum. Depreciation | $231.68B | $228.52B | $226.30B | $224.46B | $223.97B | $222.88B | $220.03B | $217.09B | $214.40B | · | $209.28B | $206.15B | $203.53B | · | $197.87B | $195.39B | |
| Goodwill | $30.63B | $22.84B | $22.84B | $22.84B | $22.84B | $22.84B | $22.84B | $22.84B | $22.84B | $22.84B | $28.64B | $28.65B | $28.67B | $28.67B | $28.55B | $28.64B | |
| Intangibles | $12.80B | $10.46B | $10.52B | $10.63B | $10.85B | $11.13B | $10.67B | $10.68B | $10.84B | · | $10.95B | $11.10B | $11.25B | · | $11.20B | $11.29B | |
| Other Non-current Assets | $22.55B | $23.25B | $21.01B | $21.32B | $19.68B | $19.77B | $18.52B | $18.41B | $19.26B | · | $18.15B | $17.86B | $17.60B | · | $15.63B | $14.48B | |
| Total Assets | $417.88B | $404.26B | $388.33B | $383.29B | $380.36B | $384.71B | $381.16B | $379.15B | $380.16B | · | $384.83B | $379.95B | $377.72B | · | $375.09B | $370.15B | |
| Accounts Payable | $21.93B | $12.15B | $20.70B | $19.88B | $19.41B | $10.43B | $22.22B | $19.73B | $20.14B | · | $26.14B | $20.07B | $19.27B | · | $22.23B | $20.96B | |
| Accrued Liabilities | · | $4.53B | · | · | · | $5.06B | · | · | · | · | · | · | · | · | · | · | |
| Short-term Debt | · | $441M | · | · | · | $65M | · | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $69.88B | $62.37B | $59.56B | $60.95B | $61.07B | $64.77B | $61.82B | $60.81B | $53.63B | · | $55.68B | $51.40B | $47.77B | · | $53.14B | $49.22B | |
| Capital Leases | $18.69B | $18.95B | $19.18B | $19.16B | $19.38B | $19.93B | $19.25B | $19.46B | $19.65B | · | $20.77B | $20.75B | $21.30B | · | $22.18B | $22.60B | |
| Deferred Tax | $49.31B | $48.72B | $48.23B | $46.57B | $46.64B | $46.73B | $45.87B | $46.08B | $45.98B | · | $44.43B | $44.05B | $43.67B | · | $42.09B | $42.15B | |
| Other Non-current Liabilities | $19.12B | $17.85B | $17.32B | $17.14B | $18.43B | $19.33B | $14.95B | $16.43B | $16.26B | · | $18.19B | $17.02B | $17.24B | · | $20.07B | $17.51B | |
| Total Debt | $28.23B | · | $20.15B | $22.07B | $22.63B | · | $21.76B | $23.25B | $15.59B | · | $12.95B | $14.83B | $12.08B | · | $14.99B | $12.87B | |
| Common Stock | · | · | · | · | · | · | · | · | · | · | · | $429M | $429M | · | $429M | $429M | |
| Paid-in Capital | $13.26B | $13.37B | $13.41B | $13.41B | $13.41B | $13.47B | $13.48B | $13.54B | $13.57B | · | $13.52B | $13.52B | $13.52B | · | $13.47B | $13.87B | |
| Retained Earnings | $96.82B | $94.74B | $95.32B | $93.28B | $91.13B | $89.11B | $86.96B | $86.50B | $84.71B | · | $88.42B | $86.45B | $84.54B | · | $78.55B | $76.40B | |
| Treasury Stock | $5.33B | $3.25B | $3.29B | $3.29B | $3.29B | $3.58B | $3.58B | $3.59B | $3.60B | · | $3.83B | $3.83B | $3.83B | · | $4.01B | $4.02B | |
| AOCI | $-2.37B | $-1.73B | $-1.65B | $-1.48B | $-1.49B | $-923M | $-1.67B | $-1.29B | $-1.20B | · | $-1.43B | $-1.92B | $-2.18B | · | $-1.70B | $-1.32B | |
| Stockholders' Equity | $104.62B | $105.74B | $106.34B | $104.36B | $102.04B | $100.58B | $97.67B | $97.54B | $95.73B | $93.80B | $99.09B | $96.50B | $94.22B | $92.46B | $88.78B | $87.36B | |
| Liabilities + Equity | $417.88B | $404.26B | $388.33B | $383.29B | $380.36B | $384.71B | $381.16B | $379.15B | $380.16B | · | $384.83B | $379.95B | $377.72B | · | $375.09B | $370.15B | |
| Shares Outstanding | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | 4,291,434,000 | · | · |
Cash Flow 10
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $4.89B | $4.52B | $4.62B | $4.63B | $4.58B | $4.51B | $4.46B | $4.48B | $4.45B | $4.52B | $4.43B | $4.36B | $4.32B | $4.22B | $4.32B | $4.32B | |
| Deferred Tax | $703M | $531M | $1.71B | $-37M | $132M | $568M | $-35M | $141M | $141M | $1.57B | $189M | $302M | $331M | $1.38B | $81M | $887M | |
| Amort. of Intangibles | $836M | $762M | $749M | $754M | $734M | $701M | $676M | $706M | $698M | $697M | $690M | $653M | $647M | $563M | $658M | $651M | |
| Operating Cash Flow | $7.98B | $9.11B | $11.27B | $8.97B | $7.78B | $10.43B | $9.91B | $9.48B | $7.08B | $8.68B | $10.78B | $9.73B | $8.29B | $8.94B | $10.53B | $10.84B | |
| Investing Cash Flow | $-13.57B | $-4.98B | $-4.49B | $-3.44B | $-3.75B | $-5.56B | $-4.00B | $-3.87B | $-5.25B | $-7.82B | $-5.41B | $-4.09B | $-6.11B | $-5.34B | $-8.66B | $-6.66B | |
| Stock Repurchased | $2.50B | · | · | · | $0 | · | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | $-2.50B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $2.91B | $2.91B | $2.86B | $2.86B | $2.86B | $2.85B | $2.80B | $2.80B | $2.80B | $2.79B | $2.74B | $2.74B | $2.74B | $2.74B | $2.69B | $2.72B | |
| Financing Cash Flow | $-5.28B | $7.21B | $-2.55B | $-4.38B | $-5.89B | $-5.62B | $-4.42B | $-5.63B | $-1.43B | $-3.02B | $-6.05B | $-3.20B | $-2.38B | $-3.08B | $-1.62B | $-4.08B | |
| Net Change in Cash | $-10.87B | $11.34B | $4.22B | $1.16B | $-1.86B | $-752M | $1.49B | $-14M | $411M | $-2.16B | $-685M | $2.44B | $-204M | $524M | $254M | $101M |
Profitability 7
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 23.9% | · | 24.0% | 23.7% | 23.8% | · | 17.8% | 23.8% | 22.8% | · | 22.4% | 22.1% | 23.0% | · | 23.1% | 22.4% | |
| Net Margin | 14.6% | · | 14.6% | 14.5% | 14.6% | · | 9.9% | 14.0% | 14.0% | · | 14.3% | 14.3% | 14.9% | · | 14.3% | 15.4% | |
| Pretax Margin | 19.7% | · | 19.3% | 19.1% | 19.3% | · | 12.9% | 18.4% | 18.4% | · | 18.6% | 18.8% | 19.8% | · | 19.0% | 20.3% | |
| EBITDA Margin | 23.9% | · | 24.0% | 23.7% | 23.8% | · | 17.8% | 23.8% | 22.8% | · | 22.4% | 22.1% | 23.0% | · | 23.1% | 22.4% | |
| ROA | 1.3% | · | 1.3% | 1.3% | 1.3% | · | 0.86% | 1.2% | 1.2% | · | 1.2% | 1.2% | 1.3% | · | 1.4% | 1.5% | |
| ROE | 4.9% | · | 4.9% | 5.0% | 4.9% | · | 3.4% | 4.7% | 4.9% | · | 5.1% | 5.1% | 5.5% | · | 5.9% | 6.4% | |
| ROIC | 4.7% | · | 5.0% | 5.0% | 4.9% | · | 3.9% | 5.0% | 5.2% | · | 5.3% | 5.1% | 5.5% | · | 5.9% | 5.8% |
Liquidity & Solvency 4
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.6 | · | 0.7 | 0.6 | 0.6 | · | 0.7 | 0.6 | 0.7 | · | 0.7 | 0.7 | 0.7 | · | 0.7 | 0.8 | |
| Quick Ratio | 0.1 | · | 0.1 | 0.1 | 0.0 | · | 0.1 | 0.0 | 0.0 | · | 0.1 | 0.1 | 0.0 | · | 0.0 | 0.5 | |
| Debt / Equity | 0.3 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.1 | 0.2 | 0.1 | · | 0.2 | 0.1 | |
| Interest Coverage | · | · | · | · | · | · | · | 4.6 | 4.6 | · | 5.2 | 5.6 | 6.3 | · | 8.4 | 9.6 |
Efficiency 2
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | |
| Receivables Turnover | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 1.5 |
Valuation (TTM) 13
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $136.25B | · | $135.14B | $134.12B | $132.59B | · | $132.44B | $131.71B | $131.82B | · | $133.09B | $133.54B | $134.50B | · | $134.50B | $134.02B | |
| Net Income TTM | $19.88B | · | $18.14B | $17.78B | $17.38B | · | $17.26B | $18.61B | $18.92B | · | $19.22B | $19.66B | $19.59B | · | $21.09B | $21.99B | |
| Market Cap | $215.43B | · | $188.61B | $185.69B | $194.66B | · | $192.73B | $176.98B | $180.07B | · | $139.09B | $159.60B | $166.89B | · | · | · | |
| Enterprise Value | $235.29B | · | $201.05B | $204.32B | $215.03B | · | $209.50B | $197.80B | $193.30B | · | $147.83B | $169.62B | $176.74B | · | · | · | |
| P/E | 10.7 | · | 10.3 | 10.3 | 11.0 | · | 11.0 | 9.4 | 9.3 | · | 7.1 | 7.9 | 8.3 | · | 7.5 | 9.6 | |
| P/S | 1.6 | · | 1.4 | 1.4 | 1.5 | · | 1.5 | 1.3 | 1.4 | · | 1.0 | 1.2 | 1.2 | · | · | · | |
| P/B | 2.1 | · | 1.8 | 1.8 | 1.9 | · | 2.0 | 1.8 | 1.9 | · | 1.4 | 1.7 | 1.8 | · | · | · | |
| P / Tangible Book | 3.5 | · | 2.6 | 2.6 | 2.8 | · | 3.0 | 2.8 | 2.9 | · | 2.3 | 2.8 | 3.1 | · | · | · | |
| P / Cash Flow | 27.0 | · | · | · | 25.0 | · | · | · | 25.4 | · | · | · | 20.1 | · | · | · | |
| EV / EBITDA | 28.5 | · | 24.8 | 25.0 | 27.0 | · | 35.4 | 25.3 | 25.7 | · | 19.8 | 23.5 | 23.3 | · | · | · | |
| EV / Revenue | 1.7 | · | 1.5 | 1.5 | 1.6 | · | 1.6 | 1.5 | 1.5 | · | 1.1 | 1.3 | 1.3 | · | · | · | |
| Earnings Yield | 9.4% | · | 9.7% | 9.7% | 9.1% | · | 9.1% | 10.7% | 10.7% | · | 14.1% | 12.6% | 12.0% | · | 13.3% | 10.4% | |
| Payout Ratio | 57.7% | · | · | · | 58.5% | · | · | · | 60.8% | · | · | · | 55.9% | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $138.19B | $134.79B | $133.97B | $136.84B | $133.61B |
| Operating Margin % | 21.2% | 21.3% | 17.1% | 22.3% | 24.3% |
| Net Income | $17.17B | $17.51B | $11.61B | $21.26B | $22.07B |
| Diluted EPS | $4.06 | $4.14 | $2.75 | $5.06 | $5.32 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 |
| Current Ratio | 0.9 | 0.6 | 0.7 | 0.8 | 0.8 |
| Quick Ratio | 0.3 | 0.1 | 0.0 | 0.1 | 0.6 |
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