Verizon Communications Inc. (VZ)

Verizon Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	16,172	17,174	17,506	11,614	21,256	22,065
Depreciation & Amortization	19,037	18,349	17,892	17,624	17,099	16,206
Asset Writedown & Restructuring Costs	-	-	-	5,841	-	-
Loss (Gain) on Equity Investments	-22	42	75	84	-10	36
Provision & Write-off of Bad Debts	2,257	2,349	2,338	2,214	1,611	789
Other Operating Activities	3,775	1,543	1,379	365	-2,359	1,333
Change in Accounts Receivable	-2,513	-2,513	-2,565	-2,198	-1,978	-1,592
Change in Inventory	-232	-232	-196	287	627	-905
Change in Accounts Payable	1,819	1,819	1,109	2,079	-33	1,457
Change in Other Net Operating Assets	-1,494	-1,394	-626	-435	928	150
Operating Cash Flow	38,799	37,137	36,912	37,475	37,141	39,539
Operating Cash Flow Growth	4.58%	0.61%	-1.50%	0.90%	-6.07%	-5.34%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-17,268	-17,011	-17,090	-18,767	-23,087	-20,286
Cash Acquisitions	-9,480	-	-	-30	248	-4,065
Divestitures	-	-	-	-	33	4,122
Sale (Purchase) of Intangibles	-1,371	-450	-900	-5,796	-3,653	-47,596
Other Investing Activities	149	801	-684	1,161	-2,203	672
Investing Cash Flow	-27,970	-16,660	-18,674	-23,432	-28,662	-67,153

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	-	-	-	106	-
Long-Term Debt Issued	-	27,606	15,568	8,612	17,806	41,417
Total Debt Issued	42,936	27,606	15,568	8,612	17,912	41,417
Long-Term Debt Repaid	-	-19,789	-20,344	-10,624	-13,564	-18,863
Total Debt Repaid	-38,085	-19,789	-20,344	-10,624	-13,564	-18,863
Net Debt Issued (Repaid)	4,851	7,817	-4,776	-2,012	4,348	22,554
Repurchase of Common Stock	-3,500	-	-	-	-	-
Common Dividends Paid	-11,633	-11,481	-11,249	-11,025	-10,805	-10,445
Other Financing Activities	-2,174	-1,949	-1,075	-1,620	-2,072	-3,832
Financing Cash Flow	-12,456	-5,613	-17,100	-14,657	-8,529	8,277

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Cash Flow	-1,627	14,864	1,138	-614	-50	-19,337

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	21,531	20,126	19,822	18,708	14,054	19,253
Free Cash Flow Growth	6.97%	1.53%	5.96%	33.12%	-27.00%	-18.34%
Free Cash Flow Margin	15.50%	14.56%	14.71%	13.96%	10.27%	14.41%
Free Cash Flow Per Share	5.11	4.76	4.69	4.44	3.34	4.64
Levered Free Cash Flow	17,467	17,241	16,012	9,421	6,810	-25,814
Unlevered Free Cash Flow	22,059	21,425	20,168	12,873	9,068	-23,635

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	5,772	5,772	5,505	4,384	3,316	3,435
Cash Income Tax Paid	3,581	3,581	5,632	2,343	2,736	3,040
Change in Working Capital	-2,420	-2,320	-2,278	-267	-456	-890

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Jul 24, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 26, 2026

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