Verizon Communications (VZ) 10-K Summaries & Annual Filing History
Review Verizon Communications Inc. (VZ) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Verizon is a communications company that provides connectivity and related services, recently expanding its fiber and fixed wireless broadband through acquisitions. In the reported period, revenue grew compared to the prior year, and the company reported operating income, net income, and operating cash flow.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$138.2B
Revenue reported for the fiscal year.
Operating income
$29.3B
Income from operations reported for the year.
Net income
$17.2B
Net income reported for the year.
Operating cash flow
$37.1B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $136.8B | +2.4% |
| Dec 31, 2023 | $134B | -2.1% |
| Dec 31, 2024 | $134.8B | +0.6% |
| Dec 31, 2025 | $138.2B | +2.5% |
Business overview
Verizon designs, builds, and operates networks to deliver connectivity and related services to consumers, businesses, government organizations, first responders, and educational institutions. The company holds a portfolio of spectrum, including C-band and millimeter wave, and leverages 5G wireless, fiber, cloud, AI, and automation. It recently completed acquisitions of Frontier, expanding its fiber broadband footprint to 31 states and Washington D.C., and Starry, a fixed wireless broadband provider serving multi-dwelling units in five U.S. markets.
Financial performance
Revenue for the period increased compared to the prior year. The company reported operating income, net income, and operating cash flow at the levels indicated in the filing.
Material risks
The filing references a risk factors section, but the specific content of those risks is not provided in the supplied context. Consequently, no material risks can be identified from the available information.
Liquidity and capital
The company generated operating cash flow during the period. After the end of the period, it completed the acquisitions of Frontier and Starry, indicating a capital allocation focus on expanding its fiber and fixed wireless broadband networks.
What to watch
Investors should monitor the integration and financial contribution of the recently acquired Frontier and Starry businesses in the next annual filing.