Verizon Communications Inc. operates in 2 segments: Verizon Consumer Group and Verizon Business Group.
Segment Profit Margin
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
---|---|---|---|---|---|
Verizon Consumer Group | 28.55% | 27.87% | 31.43% | 32.59% | 31.81% |
Verizon Business Group | 6.86% | 8.47% | 11.07% | 12.19% | 11.96% |
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).
Segment profitability ratio | Reportable segment | The company |
---|---|---|
Segment profit margin | Verizon Consumer Group | Verizon Consumer Group segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Verizon Business Group | Verizon Business Group segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Verizon Consumer Group
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||
Operating income | 29,011) | 28,846) | 29,955) | 28,856) | 28,961) |
Operating revenues | 101,626) | 103,506) | 95,300) | 88,533) | 91,056) |
Segment Profitability Ratio | |||||
Segment profit margin1 | 28.55% | 27.87% | 31.43% | 32.59% | 31.81% |
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).
1 2023 Calculation
Segment profit margin = 100 × Operating income ÷ Operating revenues
= 100 × 29,011 ÷ 101,626 = 28.55%
Segment profitability ratio | Reportable segment | The company |
---|---|---|
Segment profit margin | Verizon Consumer Group | Verizon Consumer Group segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Profit Margin: Verizon Business Group
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||
Operating income | 2,066) | 2,631) | 3,437) | 3,773) | 3,762) |
Operating revenues | 30,122) | 31,072) | 31,042) | 30,962) | 31,443) |
Segment Profitability Ratio | |||||
Segment profit margin1 | 6.86% | 8.47% | 11.07% | 12.19% | 11.96% |
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).
1 2023 Calculation
Segment profit margin = 100 × Operating income ÷ Operating revenues
= 100 × 2,066 ÷ 30,122 = 6.86%
Segment profitability ratio | Reportable segment | The company |
---|---|---|
Segment profit margin | Verizon Business Group | Verizon Business Group segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Operating revenues
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
---|---|---|---|---|---|
Verizon Consumer Group | 101,626) | 103,506) | 95,300) | 88,533) | 91,056) |
Verizon Business Group | 30,122) | 31,072) | 31,042) | 30,962) | 31,443) |
Total reportable segments | 131,748) | 134,578) | 126,342) | 119,495) | 122,499) |
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).
Operating income
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
---|---|---|---|---|---|
Verizon Consumer Group | 29,011) | 28,846) | 29,955) | 28,856) | 28,961) |
Verizon Business Group | 2,066) | 2,631) | 3,437) | 3,773) | 3,762) |
Total reportable segments | 31,077) | 31,477) | 33,392) | 32,629) | 32,723) |
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).