Stock Analysis on Net

Verizon Communications Inc. (NYSE:VZ)

Analysis of Profitability Ratios
Quarterly Data

Microsoft Excel

Profitability Ratios (Summary)

Verizon Communications Inc., profitability ratios (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Return on Sales
Gross profit margin 59.95% 59.80% 59.52% 59.03% 58.64% 58.05% 57.20% 56.79% 56.97% 57.35% 57.46% 57.86% 58.19% 58.66% 59.53% 60.09% 59.49% 59.10% 58.86% 58.50%
Operating profit margin 16.29% 17.44% 17.02% 17.08% 22.00% 22.17% 22.21% 22.27% 22.74% 23.72% 24.18% 24.29% 23.85% 23.18% 23.15% 22.45% 22.01% 22.17% 22.27% 23.04%
Net profit margin 7.30% 8.38% 8.44% 8.67% 15.58% 15.58% 15.85% 15.53% 14.22% 15.48% 15.93% 16.51% 16.42% 15.05% 14.58% 13.88% 14.26% 14.76% 14.00% 14.61%
Return on Investment
Return on equity (ROE) 10.17% 11.70% 11.99% 12.57% 21.38% 22.10% 23.24% 23.32% 22.06% 24.18% 25.55% 26.98% 28.61% 27.13% 26.52% 26.24% 28.14% 30.54% 30.54% 31.38%
Return on assets (ROA) 2.57% 2.97% 2.97% 3.05% 5.43% 5.54% 5.71% 5.60% 5.14% 5.62% 5.85% 6.02% 6.24% 5.72% 5.47% 5.62% 6.16% 6.53% 6.24% 6.60%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Verizon Communications Inc. gross profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Verizon Communications Inc. operating profit margin ratio improved from Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Verizon Communications Inc. net profit margin ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Verizon Communications Inc. ROE deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
ROA A profitability ratio calculated as net income divided by total assets. Verizon Communications Inc. ROA deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Gross Profit Margin

Verizon Communications Inc., gross profit margin calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Gross profit 20,090 20,325 20,109 19,948 19,899 19,832 19,408 19,489 19,640 19,369 19,204 19,071 19,387 19,509 19,345 19,870 19,209 18,698 19,314 19,144 19,510 19,350 19,138
Operating revenues 33,330 32,796 32,981 35,130 33,336 32,596 32,912 35,251 34,241 33,789 33,554 34,067 32,915 33,764 32,867 34,692 31,543 30,447 31,610 34,775 32,894 32,071 32,128
Profitability Ratio
Gross profit margin1 59.95% 59.80% 59.52% 59.03% 58.64% 58.05% 57.20% 56.79% 56.97% 57.35% 57.46% 57.86% 58.19% 58.66% 59.53% 60.09% 59.49% 59.10% 58.86% 58.50%
Benchmarks
Gross Profit Margin, Competitors2
AT&T Inc. 59.91% 59.61% 59.33% 59.06% 59.11% 58.89% 58.37% 57.89% 56.22% 55.29% 53.79% 52.74% 52.23% 51.75% 52.68% 53.47% 53.87% 54.29% 53.90% 53.56%
T-Mobile US Inc. 63.42% 62.86% 62.27% 61.57% 61.13% 59.25% 56.78% 54.50% 52.57% 52.67% 53.09% 54.31% 55.06% 56.12% 57.65% 58.67% 60.25% 60.21% 59.75% 58.84%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Gross profit margin = 100 × (Gross profitQ3 2024 + Gross profitQ2 2024 + Gross profitQ1 2024 + Gross profitQ4 2023) ÷ (Operating revenuesQ3 2024 + Operating revenuesQ2 2024 + Operating revenuesQ1 2024 + Operating revenuesQ4 2023)
= 100 × (20,090 + 20,325 + 20,109 + 19,948) ÷ (33,330 + 32,796 + 32,981 + 35,130) = 59.95%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Verizon Communications Inc. gross profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Operating Profit Margin

Verizon Communications Inc., operating profit margin calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Operating income 5,926 7,818 7,521 600 7,473 7,220 7,584 7,225 7,894 7,552 7,796 7,608 8,905 8,165 7,770 7,180 7,678 7,361 6,579 6,639 8,180 7,850 7,709
Operating revenues 33,330 32,796 32,981 35,130 33,336 32,596 32,912 35,251 34,241 33,789 33,554 34,067 32,915 33,764 32,867 34,692 31,543 30,447 31,610 34,775 32,894 32,071 32,128
Profitability Ratio
Operating profit margin1 16.29% 17.44% 17.02% 17.08% 22.00% 22.17% 22.21% 22.27% 22.74% 23.72% 24.18% 24.29% 23.85% 23.18% 23.15% 22.45% 22.01% 22.17% 22.27% 23.04%
Benchmarks
Operating Profit Margin, Competitors2
AT&T Inc. 15.56% 18.54% 19.05% 19.16% -2.38% -2.20% -3.40% -3.80% 16.73% 16.34% 13.72% 13.83% 4.20% 3.59% 3.81% 3.73% 13.00% 13.84% 15.75% 15.43%
T-Mobile US Inc. 21.13% 19.85% 18.93% 18.16% 17.27% 14.28% 10.29% 8.22% 6.07% 6.43% 8.15% 8.60% 9.46% 10.74% 9.39% 9.70% 10.27% 9.79% 12.85% 12.72%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Operating profit margin = 100 × (Operating incomeQ3 2024 + Operating incomeQ2 2024 + Operating incomeQ1 2024 + Operating incomeQ4 2023) ÷ (Operating revenuesQ3 2024 + Operating revenuesQ2 2024 + Operating revenuesQ1 2024 + Operating revenuesQ4 2023)
= 100 × (5,926 + 7,818 + 7,521 + 600) ÷ (33,330 + 32,796 + 32,981 + 35,130) = 16.29%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Verizon Communications Inc. operating profit margin ratio improved from Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.

Net Profit Margin

Verizon Communications Inc., net profit margin calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income attributable to Verizon 3,306 4,593 4,602 (2,705) 4,762 4,648 4,909 6,577 4,900 5,199 4,580 4,613 6,407 5,800 5,245 4,588 4,357 4,700 4,156 5,095 5,194 3,944 5,032
Operating revenues 33,330 32,796 32,981 35,130 33,336 32,596 32,912 35,251 34,241 33,789 33,554 34,067 32,915 33,764 32,867 34,692 31,543 30,447 31,610 34,775 32,894 32,071 32,128
Profitability Ratio
Net profit margin1 7.30% 8.38% 8.44% 8.67% 15.58% 15.58% 15.85% 15.53% 14.22% 15.48% 15.93% 16.51% 16.42% 15.05% 14.58% 13.88% 14.26% 14.76% 14.00% 14.61%
Benchmarks
Net Profit Margin, Competitors2
AT&T Inc. 7.42% 10.41% 11.13% 11.76% -9.29% -7.22% -7.52% -7.06% 15.37% 14.21% 11.21% 11.89% 0.67% -1.11% -1.29% -3.01% 6.42% 6.84% 8.05% 7.67%
T-Mobile US Inc. 12.96% 11.95% 11.14% 10.59% 9.93% 7.82% 4.83% 3.25% 1.92% 2.14% 3.48% 3.77% 4.21% 4.93% 3.95% 4.48% 5.11% 5.19% 7.80% 7.71%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Net profit margin = 100 × (Net income attributable to VerizonQ3 2024 + Net income attributable to VerizonQ2 2024 + Net income attributable to VerizonQ1 2024 + Net income attributable to VerizonQ4 2023) ÷ (Operating revenuesQ3 2024 + Operating revenuesQ2 2024 + Operating revenuesQ1 2024 + Operating revenuesQ4 2023)
= 100 × (3,306 + 4,593 + 4,602 + -2,705) ÷ (33,330 + 32,796 + 32,981 + 35,130) = 7.30%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Verizon Communications Inc. net profit margin ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Return on Equity (ROE)

Verizon Communications Inc., ROE calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income attributable to Verizon 3,306 4,593 4,602 (2,705) 4,762 4,648 4,909 6,577 4,900 5,199 4,580 4,613 6,407 5,800 5,245 4,588 4,357 4,700 4,156 5,095 5,194 3,944 5,032
Equity attributable to Verizon 96,326 96,172 94,334 92,430 97,741 95,193 92,883 91,144 87,468 86,016 83,762 81,790 77,044 73,684 71,232 67,842 65,069 62,697 60,210 61,395 58,921 56,582 55,856
Profitability Ratio
ROE1 10.17% 11.70% 11.99% 12.57% 21.38% 22.10% 23.24% 23.32% 22.06% 24.18% 25.55% 26.98% 28.61% 27.13% 26.52% 26.24% 28.14% 30.54% 30.54% 31.38%
Benchmarks
ROE, Competitors2
AT&T Inc. 8.85% 12.08% 13.03% 13.94% -10.90% -8.61% -9.16% -8.74% 16.37% 16.92% 10.26% 12.07% 0.71% -1.20% -1.35% -3.20% 6.32% 6.81% 8.11% 7.55%
T-Mobile US Inc. 16.14% 15.10% 14.10% 12.85% 12.03% 9.35% 5.70% 3.72% 2.19% 2.45% 4.01% 4.38% 4.90% 5.80% 4.59% 4.69% 4.75% 4.26% 12.12% 12.05%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
ROE = 100 × (Net income attributable to VerizonQ3 2024 + Net income attributable to VerizonQ2 2024 + Net income attributable to VerizonQ1 2024 + Net income attributable to VerizonQ4 2023) ÷ Equity attributable to Verizon
= 100 × (3,306 + 4,593 + 4,602 + -2,705) ÷ 96,326 = 10.17%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Verizon Communications Inc. ROE deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Return on Assets (ROA)

Verizon Communications Inc., ROA calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income attributable to Verizon 3,306 4,593 4,602 (2,705) 4,762 4,648 4,909 6,577 4,900 5,199 4,580 4,613 6,407 5,800 5,245 4,588 4,357 4,700 4,156 5,095 5,194 3,944 5,032
Total assets 381,164 379,146 380,158 380,255 384,830 379,955 377,716 379,680 375,090 370,147 365,716 366,596 353,457 349,190 345,573 316,481 296,994 293,259 294,500 291,727 284,875 283,108 283,947
Profitability Ratio
ROA1 2.57% 2.97% 2.97% 3.05% 5.43% 5.54% 5.71% 5.60% 5.14% 5.62% 5.85% 6.02% 6.24% 5.72% 5.47% 5.62% 6.16% 6.53% 6.24% 6.60%
Benchmarks
ROA, Competitors2
AT&T Inc. 2.30% 3.20% 3.41% 3.54% -2.78% -2.15% -2.27% -2.12% 4.70% 4.67% 3.00% 3.64% 0.21% -0.36% -0.41% -0.98% 2.06% 2.19% 2.64% 2.52%
T-Mobile US Inc. 4.92% 4.53% 4.24% 4.00% 3.73% 2.92% 1.82% 1.23% 0.72% 0.82% 1.33% 1.46% 1.66% 1.92% 1.50% 1.53% 1.59% 1.43% 4.03% 3.99%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
ROA = 100 × (Net income attributable to VerizonQ3 2024 + Net income attributable to VerizonQ2 2024 + Net income attributable to VerizonQ1 2024 + Net income attributable to VerizonQ4 2023) ÷ Total assets
= 100 × (3,306 + 4,593 + 4,602 + -2,705) ÷ 381,164 = 2.57%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Verizon Communications Inc. ROA deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.