Verizon Communications Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	138,191	134,788	133,974	136,835	133,613
Revenue Growth (YoY)	2.53%	0.61%	-2.09%	2.41%	4.15%
Cost of Revenue	56,765	54,097	54,887	59,133	56,301
Gross Profit	81,426	80,691	79,087	77,702	77,312
Selling, General & Admin	33,818	34,113	32,745	30,136	28,658
Depreciation & Amortization Expenses	18,349	17,892	17,624	17,099	16,206
Other Operating Expenses	-	-	5,841	-	-
Operating Income	29,259	28,686	22,877	30,467	32,448
Interest Income	-	-53	-53	44	145
Interest Expense	-6,694	-6,649	-5,524	-3,613	-3,485
Other Non-Operating Income (Expense)	107	995	-313	1,373	312
Total Non-Operating Income (Expense)	-6,587	-5,707	-5,890	-2,196	-3,028
Pretax Income	22,672	22,979	16,987	28,271	29,420
Provision for Income Taxes	5,064	5,030	4,892	6,523	6,802
Net Income	17,174	17,506	11,614	21,256	22,065
Minority Interest in Earnings	434	443	481	492	553
Net Income to Common	17,174	17,506	11,614	21,256	22,065
Net Income Growth	-1.90%	50.73%	-45.36%	-3.67%	23.95%
Shares Outstanding (Basic)	4,226	4,218	4,211	4,202	4,148
Shares Outstanding (Diluted)	4,231	4,223	4,215	4,204	4,150
Shares Change (YoY)	0.19%	0.19%	0.26%	1.30%	0.19%
EPS (Basic)	4.06	4.15	2.76	5.06	5.32
EPS (Diluted)	4.06	4.14	2.75	5.06	5.32
EPS Growth	-1.93%	50.54%	-45.65%	-4.89%	23.72%
Free Cash Flow	20,126	19,822	18,708	14,054	19,253
Free Cash Flow Growth	1.53%	5.96%	33.12%	-27.00%	-18.34%
Free Cash Flow Per Share	4.76	4.69	4.44	3.34	4.64
Dividends Per Share	2.735	2.685	2.635	2.585	2.535
Dividend Growth	1.86%	1.90%	1.93%	1.97%	2.01%
Gross Margin	58.92%	59.87%	59.03%	56.79%	57.86%
Operating Margin	21.17%	21.28%	17.08%	22.27%	24.29%
Profit Margin	12.74%	13.32%	9.03%	15.89%	16.93%
FCF Margin	14.56%	14.71%	13.96%	10.27%	14.41%
EBITDA	47,608	46,578	40,501	47,566	48,654
EBITDA Margin	34.45%	34.56%	30.23%	34.76%	36.41%
EBIT	29,259	28,686	22,877	30,467	32,448
EBIT Margin	21.17%	21.28%	17.08%	22.27%	24.29%
Effective Tax Rate	22.34%	21.89%	28.80%	23.07%	23.12%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.