Stock Analysis on Net

Verizon Communications Inc. (NYSE:VZ)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Long-term Activity Ratios (Summary)

Verizon Communications Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 1.24 1.27 1.34 1.35 1.43
Net fixed asset turnover (including operating lease, right-of-use asset) 1.01 1.02 1.05 1.09 1.15
Total asset turnover 0.35 0.36 0.36 0.41 0.45
Equity turnover 1.45 1.50 1.63 1.89 2.15

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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Verizon Communications Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Verizon Communications Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Verizon Communications Inc. total asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Verizon Communications Inc. equity turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Net Fixed Asset Turnover

Verizon Communications Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 133,974 136,835 133,613 128,292 131,868
Plant, property and equipment, net 108,310 107,434 99,696 94,833 91,915
Long-term Activity Ratio
Net fixed asset turnover1 1.24 1.27 1.34 1.35 1.43
Benchmarks
Net Fixed Asset Turnover, Competitors2
AT&T Inc. 0.95 0.95 1.34 1.35 1.39
T-Mobile US Inc. 1.80 1.75 1.86 1.55 1.82
Net Fixed Asset Turnover, Sector
Telecommunication Services 1.19 1.20 1.42 1.38 1.45
Net Fixed Asset Turnover, Industry
Communication Services 1.68 1.73 1.90 1.72 1.81

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
Net fixed asset turnover = Operating revenues ÷ Plant, property and equipment, net
= 133,974 ÷ 108,310 = 1.24

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Verizon Communications Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Verizon Communications Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 133,974 136,835 133,613 128,292 131,868
 
Plant, property and equipment, net 108,310 107,434 99,696 94,833 91,915
Operating lease right-of-use assets 24,726 26,130 27,883 22,531 22,694
Plant, property and equipment, net (including operating lease, right-of-use asset) 133,036 133,564 127,579 117,364 114,609
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 1.01 1.02 1.05 1.09 1.15
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
AT&T Inc. 0.82 0.81 1.13 1.13 1.18
T-Mobile US Inc. 1.11 1.07 1.14 0.95 1.26
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Telecommunication Services 0.95 0.94 1.10 1.08 1.18
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Communication Services 1.42 1.43 1.54 1.41 1.52

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
Net fixed asset turnover (including operating lease, right-of-use asset) = Operating revenues ÷ Plant, property and equipment, net (including operating lease, right-of-use asset)
= 133,974 ÷ 133,036 = 1.01

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Verizon Communications Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023.

Total Asset Turnover

Verizon Communications Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 133,974 136,835 133,613 128,292 131,868
Total assets 380,255 379,680 366,596 316,481 291,727
Long-term Activity Ratio
Total asset turnover1 0.35 0.36 0.36 0.41 0.45
Benchmarks
Total Asset Turnover, Competitors2
AT&T Inc. 0.30 0.30 0.31 0.33 0.33
T-Mobile US Inc. 0.38 0.38 0.39 0.34 0.52
Total Asset Turnover, Sector
Telecommunication Services 0.34 0.34 0.34 0.35 0.38
Total Asset Turnover, Industry
Communication Services 0.48 0.47 0.45 0.41 0.43

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
Total asset turnover = Operating revenues ÷ Total assets
= 133,974 ÷ 380,255 = 0.35

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Verizon Communications Inc. total asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Equity Turnover

Verizon Communications Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 133,974 136,835 133,613 128,292 131,868
Equity attributable to Verizon 92,430 91,144 81,790 67,842 61,395
Long-term Activity Ratio
Equity turnover1 1.45 1.50 1.63 1.89 2.15
Benchmarks
Equity Turnover, Competitors2
AT&T Inc. 1.19 1.24 1.02 1.06 0.98
T-Mobile US Inc. 1.21 1.14 1.16 1.05 1.56
Equity Turnover, Sector
Telecommunication Services 1.29 1.31 1.21 1.25 1.30
Equity Turnover, Industry
Communication Services 1.14 1.16 1.09 1.00 1.04

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
Equity turnover = Operating revenues ÷ Equity attributable to Verizon
= 133,974 ÷ 92,430 = 1.45

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Verizon Communications Inc. equity turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.