VERIZON COMMUNICATIONS INC
VZ · NYSE · CIK 0000732712
SIC 4813
Telephone Communications (No Radiotelephone)
Category
Telecom
Entity
operating
Incorp.
DE
Fiscal Y/E
1231
Source: SEC EDGAR · All filings on SEC →
Investment Indicators
$47.23
+0.01 (+0.02%)
Open
$47.50
High
$47.99
Low
$46.97
Prev Close
$47.22
Volume
14,732,636
52W High
$50.91
52W Low
$37.18
50-day MA
$48.75
Quote as of: 2026-05-11
Market Cap
$196.65B
P/E
11.49
P/B
1.92
PEG
0.89
EPS
4.10
BPS
24.77
Dividend Yield
5.83%
Beta
0.22
ROE
16.24%
ROA
4.25%
Current Ratio
0.91
Operating Margin
21.17%
Net Margin
12.43%
Intrinsic Value Estimates
Multiple valuation methods, each with its own assumptions — outputs can diverge widely
Median consensus (7 methods)
$202.14B
| Method | Implied market cap | vs current |
|---|---|---|
Graham Number √(22.5 × 순이익 × 자본) | $202.14B | -3% |
Graham Formula 순이익 × (8.5 + 2 × 성장률%) | $80.84B | +143% |
Justified P/E 순이익 × 산업 평균 P/E | $257.61B | -24% |
P/B 배수 자본 × 산업 평균 P/B | $158.61B | +24% |
P/S 배수 매출 × 산업 평균 P/S | $276.38B | -29% |
DCF (Gordon) CF × (1+g) / (r − g) | $334.35B | -41% |
DDM (Gordon) D × (1+g) / (r − g) | $103.37B | +90% |
▶ Detailed analysis — formula walk-through & scenarios
Why this conclusion
Of the 7 valuation methods, 7 were applicable. Their median fair-value lands -2.7% above the current market cap → the stock trades below most formulas' estimates (undervalued). 2 methods flag overvalued, 3 flag undervalued, the rest land within fair range. Read each formula's assumptions below before treating any single number as the answer.
Graham Number
Fair -2.7%√(22.5 × 순이익 × 자본)
Current
$196.65B
Implied fair
$202.14B
Gap (current − fair)
$-5.49B(-2.7%)
NetIncome = $17.17B Equity = $105.74B √(22.5 × $17.17B × $105.74B) = $202.14B
- 최대 PER 15배
- 최대 PBR 1.5배
- 안정적 흑자 기업 가정 (금융·고성장 부정확)
Graham Formula
Overvalued +143.3%순이익 × (8.5 + 2 × 성장률%)
Current
$196.65B
Implied fair
$80.84B
Gap (current − fair)
+$115.81B(+143.3%)
NetIncome = $17.17B Growth g = -1.9% → cap -1.9% Multiple = 8.5 + 2 × -1.9 = 4.7× $17.17B × 4.7 = $80.84B
- EPS 성장률 -1.9%/년 가정 (직전 1년 기준)
- 무성장 기업 P/E = 8.5
- 현재 적용 배수: 4.7x
Justified P/E
Undervalued -23.7%순이익 × 산업 평균 P/E
Current
$196.65B
Implied fair
$257.61B
Gap (current − fair)
$-60.96B(-23.7%)
NetIncome = $17.17B Industry P/E = 15× $17.17B × 15 = $257.61B
- 산업 평균 PER 15x 가정 (사용자 정의 가능)
- 동종 업종 비교가 핵심 — 산업별 평균 P/E 사용 권장
P/B 배수
Fair +24.0%자본 × 산업 평균 P/B
Current
$196.65B
Implied fair
$158.61B
Gap (current − fair)
+$38.04B(+24.0%)
Equity = $105.74B Industry P/B = 1.5× $105.74B × 1.5 = $158.61B
- 산업 평균 PBR 1.5x 가정
- 은행·보험·자산집약적 산업에 특히 유효
P/S 배수
Undervalued -28.8%매출 × 산업 평균 P/S
Current
$196.65B
Implied fair
$276.38B
Gap (current − fair)
$-79.73B(-28.8%)
Revenue = $138.19B Industry P/S = 2× $138.19B × 2 = $276.38B
- 산업 평균 PSR 2x 가정
- 매출 기반 — 적자 기업·신생 기업에 적용 가능
- 이익률 차이 무시
DCF (Gordon)
Undervalued -41.2%CF × (1+g) / (r − g)
Current
$196.65B
Implied fair
$334.35B
Gap (current − fair)
$-137.70B(-41.2%)
FCF = $37.14B Discount r = 4.0% + 5.0% = 9.0% Growth g = -1.9% $37.14B × (1 + -1.9%) / (9.0% − -1.9%) = $334.35B
- 현금흐름 입력: FCF (잉여현금흐름)
- 할인율 9.0% (무위험 4.0% + 주식위험프리미엄 5.0%)
- 영구 성장률 -1.9% (실질 GDP 수준)
DDM (Gordon)
Overvalued +90.2%D × (1+g) / (r − g)
Current
$196.65B
Implied fair
$103.37B
Gap (current − fair)
+$93.28B(+90.2%)
Dividend D = $11.48B Discount r = 9.0% Growth g = -1.9% $11.48B × (1 + -1.9%) / (9.0% − -1.9%) = $103.37B
- 배당 입력: 실제 지급 배당
- 할인율 9.0%
- 배당 영구 성장률 -1.9%
DCF sensitivity: discount rate × terminal growth
Each cell is the (current vs FCF × (1+g) / (r − g)) discount % under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | -68.5% | -63.3% | -58.1% | -52.8% | -47.6% |
| 2% | -74.0% | -68.9% | -63.7% | -58.5% | -53.3% |
| 3% | -79.4% | -74.3% | -69.2% | -64.0% | -58.9% |
| 4% | -84.7% | -79.6% | -74.5% | -69.5% | -64.4% |
| 5% | -89.9% | -84.9% | -79.8% | -74.8% | -69.7% |
DDM sensitivity: discount rate × dividend growth
Each cell is the discount % vs Dividend × (1+g) / (r − g) under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +1.8% | +18.7% | +35.7% | +52.6% | +69.6% |
| 2% | -16.0% | +0.8% | +17.5% | +34.3% | +51.1% |
| 3% | -33.5% | -16.9% | -0.2% | +16.4% | +33.0% |
| 4% | -50.6% | -34.1% | -17.7% | -1.2% | +15.3% |
| 5% | -67.4% | -51.1% | -34.8% | -18.4% | -2.1% |
All estimates rest on strong assumptions. Treat the spread, not any single number, as the signal.
Financial Statements
In USD millions (per-share figures shown directly) · Financials as of: 2026-02-17
Income Statement
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 138,191 | 134,788 | 133,974 | 136,835 | 133,613 |
| Operating Income | 29,259 | 28,686 | 22,877 | 30,467 | 32,448 |
| Net Income | 17,174 | 17,506 | 11,614 | 21,256 | 22,065 |
| EPS (Basic) | 4.06 | 4.15 | 2.76 | 5.06 | 5.32 |
| EPS (Diluted) | 4.06 | 4.14 | 2.75 | 5.06 | 5.32 |
Balance Sheet
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 404,258 | 384,711 | 380,255 | 379,680 | 366,596 |
| Current Assets | 56,922 | 40,523 | 36,814 | 37,857 | 36,728 |
| Cash & Equivalents | 19,048 | 4,194 | 2,065 | 2,605 | 2,921 |
| Current Liabilities | 62,370 | 64,771 | 53,223 | 50,171 | 47,160 |
| Total Equity | 105,741 | 100,575 | 93,799 | 92,463 | 83,200 |
Cash Flow
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating CF | 37,137 | 36,912 | 37,475 | 37,141 | 39,539 |
| Investing CF | -16,660 | -18,674 | -23,432 | -28,662 | -67,153 |
| Financing CF | -5,613 | -17,100 | -14,657 | -8,529 | 8,277 |
| Dividends Paid | 11,481 | 11,249 | 11,025 | 10,805 | 10,445 |
📄 SEC Filings
Quarterly Report
10-Q
2026-05-01
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Current Report
8-K
2026-04-27
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Proxy Statement
DEFINITIVE PROXY STATEMENT
2026-04-06
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Current Report
8-K
2026-03-13
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Current Report
8-K
2026-02-23
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Annual Report
10-K
2026-02-17
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Other filings (94)
S-8
S-8
2026-05-01
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SCHEDULE 13G
xslSCHEDULE_13G_X02/primary_doc.xml
2026-04-30
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Insider Transaction
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2026-04-24
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FORM 4
2026-04-24
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2026-04-24
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2026-04-24
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2026-04-24
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2026-04-24
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2026-04-24
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2026-04-24
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PX14A6G
y410261px14a6g.htm
2026-04-13
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FORM 4
2026-04-10
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2026-04-10
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2026-04-10
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2026-04-10
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2026-04-10
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2026-04-10
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2026-04-10
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2026-04-10
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2026-04-10
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ARS
ARS
2026-04-06
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DEFA14A
DEFINITIVE ADDITIONAL PROXY SOLICITING MATERIALS
2026-04-06
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2026-04-02
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2026-04-02
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2026-04-02
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2026-04-02
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2026-04-02
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2026-04-02
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2026-04-02
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2026-04-02
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2026-04-02
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2026-03-30
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2026-03-30
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2026-03-30
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2026-03-30
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2026-03-30
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2026-03-30
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2026-03-30
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2026-03-30
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Insider Transaction
FORM 4
2026-03-30
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SCHEDULE 13G/A
xslSCHEDULE_13G_X02/primary_doc.xml
2026-03-27
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FORM 4
2026-03-13
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FORM 4
2026-03-13
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Insider Transaction
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2026-03-13
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2026-03-13
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2026-03-13
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2026-03-13
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2026-03-13
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2026-03-13
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Insider Transaction
FORM 4
2026-03-13
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CERT
NYSE CERTIFICATION
2026-03-05
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8-A12B
8-A12B
2026-03-05
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Insider Transaction
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2026-03-03
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2026-03-03
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2026-03-03
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2026-03-03
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2026-03-03
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2026-03-03
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2026-03-03
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2026-03-03
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144
xsl144X01/primary_doc.xml
2026-03-02
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2026-02-27
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2026-02-27
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2026-02-27
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2026-02-27
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2026-02-27
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2026-02-27
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2026-02-27
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2026-02-27
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2026-02-27
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Insider Transaction
FORM 4
2026-02-25
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144
xsl144X01/primary_doc.xml
2026-02-24
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424B2
424B2
2026-02-20
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424B2
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2026-02-20
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FWP
FWP
2026-02-18
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2026-02-18
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424B2
424B2
2026-02-18
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424B2
424B2
2026-02-18
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FORM 4
2026-02-17
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FORM 4
2026-02-17
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Insider Transaction
FORM 4
2026-02-17
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Insider Transaction
FORM 4
2026-02-17
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Insider Transaction
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2026-02-17
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2026-02-17
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Insider Transaction
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2026-02-17
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2026-02-17
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Insider Transaction
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2026-02-17
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