Stock Analysis on Net

Verizon Communications Inc. (NYSE:VZ)

Analysis of Reportable Segments

Microsoft Excel

Verizon Communications Inc. operates in 2 segments: Verizon Consumer Group and Verizon Business Group.


Segment Profit Margin

Verizon Communications Inc., profit margin by reportable segment

Microsoft Excel
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

Verizon Communications Inc.; Verizon Consumer Group; segment profit margin calculation

Microsoft Excel
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

Verizon Communications Inc.; Verizon Business Group; segment profit margin calculation

Microsoft Excel
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

Verizon Communications Inc., operating revenues by reportable segment

US$ in millions

Microsoft Excel
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

Verizon Communications Inc., operating income by reportable segment

US$ in millions

Microsoft Excel
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).