Stock Analysis on Net
Stock Analysis on Net

Verizon Communications Inc. (NYSE:VZ)

Common-Size Income Statement

Verizon Communications Inc., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Service revenues and other 81.85 80.11 82.66 85.64 83.65
Wireless equipment revenues 18.15 19.89 17.34 14.36 16.35
Operating revenues 100.00% 100.00% 100.00% 100.00% 100.00%
Cost of services -20.97 -20.93 -23.38 -24.48 -24.09
Cost of wireless equipment -19.99 -22.29 -18.76 -15.43 -17.41
Cost of services and wireless equipment -40.97% -43.21% -42.14% -39.91% -41.50%
Gross profit 59.03% 56.79% 57.86% 60.09% 58.50%
Selling, general and administrative expense -24.44 -22.02 -21.45 -24.61 -22.67
Depreciation and amortization expense -13.15 -12.50 -12.13 -13.03 -12.65
Verizon Business Group goodwill impairment -4.36 0.00 0.00 0.00 0.00
Media goodwill impairment 0.00 0.00 0.00 0.00 -0.14
Operating income 17.08% 22.27% 24.29% 22.45% 23.04%
Equity in earnings (losses) of unconsolidated businesses -0.04 0.03 0.11 -0.04 -0.01
Interest income 0.26 0.11 0.04 0.05 0.09
Other components of net periodic benefit income (cost) -0.70 1.74 2.83 -0.33 0.48
Net debt extinguishment gains (losses) 0.23 -0.79 -2.65 -0.10 -2.73
Other, net -0.03 -0.06 0.01 -0.04 -0.03
Other income (expense), net -0.23% 1.00% 0.23% -0.42% -2.20%
Interest expense -4.12 -2.64 -2.61 -3.31 -3.59
Income before provision for income taxes 12.68% 20.66% 22.02% 18.68% 17.24%
Provision for income taxes -3.65 -4.77 -5.09 -4.38 -2.23
Net income 9.03% 15.89% 16.93% 14.30% 15.01%
Net income attributable to noncontrolling interests -0.36 -0.36 -0.41 -0.43 -0.40
Net income attributable to Verizon 8.67% 15.53% 16.51% 13.88% 14.61%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Verizon Communications Inc. operating income as a percentage of operating revenues decreased from 2021 to 2022 and from 2022 to 2023.
Income before provision for income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Verizon Communications Inc. income before provision for income taxes as a percentage of operating revenues decreased from 2021 to 2022 and from 2022 to 2023.
Net income attributable to Verizon The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Verizon Communications Inc. net income attributable to Verizon as a percentage of operating revenues decreased from 2021 to 2022 and from 2022 to 2023.