Verizon Communications Inc. (VZ)

Verizon Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	17,608	17,949	12,095	21,748	22,618
Depreciation & Amortization	18,349	17,892	17,624	17,099	16,206
Other Adjustments	3,500	3,349	8,023	-1,250	1,605
Change in Receivables	-2,513	-2,565	-2,198	-1,978	-1,592
Changes in Inventories	-232	-196	287	627	-905
Changes in Accounts Payable	1,819	1,109	2,079	-33	1,457
Changes in Other Operating Activities	-1,394	-626	-435	928	150
Operating Cash Flow	37,137	36,912	37,475	37,141	39,539
Operating Cash Flow Growth	0.61%	-1.50%	0.90%	-6.07%	-5.34%
Capital Expenditures	-17,011	-17,090	-18,767	-23,087	-20,286
Purchases of Intangible Assets	-450	-900	-5,796	-3,653	-47,596
Payments for Business Acquisitions	-	-	-30	248	-4,065
Proceeds from Business Divestments	-	-	-	33	4,122
Other Investing Activities	801	-684	1,161	-2,203	672
Investing Cash Flow	-16,660	-18,674	-23,432	-28,662	-67,153
Short-Term Debt Issued	-	-	-	106	-
Net Short-Term Debt Issued (Repaid)	-	-	-	106	-
Long-Term Debt Issued	27,606	15,568	8,612	17,806	41,417
Long-Term Debt Repaid	-19,789	-20,344	-10,624	-13,564	-18,863
Net Long-Term Debt Issued (Repaid)	7,817	-4,776	-2,012	4,242	22,554
Common Dividends Paid	-11,481	-11,249	-11,025	-10,805	-10,445
Other Financing Activities	-1,949	-1,075	-1,620	-2,072	-3,832
Financing Cash Flow	-5,613	-17,100	-14,657	-8,529	8,277
Net Cash Flow	14,864	1,138	-614	-50	-19,337
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%
FCF Margin	14.56%	14.71%	13.96%	10.27%	14.41%
Free Cash Flow Per Share	4.76	4.69	4.44	3.34	4.64
Levered Free Cash Flow	26,522	13,819	10,390	21,138	41,241
Unlevered Free Cash Flow	24,255	23,496	17,077	18,971	21,568

Updated Jan 30, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q