Verizon Communications Inc.

VZNYSECommunication Services● Active

$45.37

+$0.50(+1.11%)

Market Cap$189.4B

P/E Ratio—

52W High$51.68

52W Low$38.39

Avg Volume24.5M

Open$45.24

Beta0.22

Overview

Verizon Communications Inc. (VZ) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

VZ · free cash flow · updated Jun 8, 2026

Core FCF metrics

VZ · FCF · TTM · margin & CAGR

Free cash flow was $20.13B for FY2025 (fiscal year ending 2025-12-31), up 6.4% year-over-year The FCF margin was 14.6%. Five-year CAGR stands at -1.3%.

FY2025 Free Cash Flow$20.13B▲ +6.4% YoY

Trailing 12M (TTM)$20.05Btrailing 4 quarters sum

FCF Margin14.6%$20.13B ÷ revenue

3-Year CAGR+24.6%FY2022 → FY2025

5-Year CAGR-1.3%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

VZ · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$37.14B(17.01B)$20.13B▲ +6.4%14.6%

FY2024$36.91B(17.99B)$18.92B▲ +1.1%14.0%

FY2023$37.48B(18.77B)$18.71B▲ +79.9%14.0%

FY2022$37.14B(26.74B)$10.40B▼ 46.0%7.6%

FY2021$39.54B(20.29B)$19.25B▼ 10.2%14.4%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

VZ · P/FCF · FCF yield · FCF per share

Verizon Communications Inc. (VZ) trades at a FCF yield of 10.59% and a price-to-free-cash-flow ratio of 9.6x. FCF per share stands at $4.75, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

10.59%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$4.75

TTM FCF ÷ Shares Outstanding

Price / FCF

x9.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x18.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

VZ · cash flow statement · operating / investing / financing

For FY2025, Verizon Communications Inc. generated $37.14B in operating cash flow and spent 17.01B in capital expenditures, yielding $20.13B in free cash flow.

Operating Activities

+$37.14B

Cash from core business operations

2025-12-31

Investing Activities

−$16.66B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$5.61B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($37.14B) − |CapEx| (17.01B) = FCF ($20.13B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Communication Services)

VZ vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Verizon Communications Inc.YOU

$20.13B+6.4%14.6%

27%

About Free Cash Flow & Methodology

Verizon Communications Inc. (VZ) reported free cash flow of $20.13B for FY2025 (fiscal year ending 2025-12-31), up 6.4% year-over-year. The FCF margin was 14.6%.

Based on available data, Verizon Communications Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $21.63B in FY2013. The 5-year CAGR stands at -1.3%.

Verizon Communications Inc.'s FCF yield is 10.59% and price-to-FCF ratio is 9.6x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

VZ free cash flow · 8 questions

Verizon Communications Inc. free cash flow was $20.13B for FY2025, up 6.4% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $20.05B.

VZ free cash flowVZ FCFVZ FCF 2025VZ free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Verizon Communications Inc. · Verizon Communications Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026