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Verizon Communications Inc. (NYSE:VZ)

Common-Size Balance Sheet: Assets
Quarterly Data

Verizon Communications Inc., common-size consolidated balance sheet: assets (quarterly data)

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Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 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
Cash and cash equivalents 0.43 2.00 4.71 1.98 0.90 0.59 1.09 1.31 0.64 0.62 0.54 1.09 1.26 0.59 0.69 0.56 0.50 0.45 0.80 2.81 1.33 2.95
Accounts receivable, net 6.46 6.38 6.70 6.67 6.86 6.81 6.79 6.81 6.75 6.66 6.60 6.13 6.10 6.05 6.45 6.31 6.46 6.46 6.50 6.28 6.09 6.51
Inventories 0.50 0.56 0.60 0.70 0.56 0.58 0.58 0.66 0.49 0.55 0.54 0.58 0.50 0.63 0.63 0.84 0.99 1.00 0.83 0.65 0.41 0.38
Prepaid expenses and other 1.78 1.77 2.06 1.98 1.83 1.84 2.07 1.88 2.16 2.16 2.00 2.10 1.97 2.18 2.20 2.90 2.18 1.82 1.88 1.65 2.37 1.63
Current assets 9.16% 10.70% 14.08% 11.33% 10.14% 9.82% 10.53% 10.66% 10.04% 9.98% 9.68% 9.91% 9.84% 9.46% 9.97% 10.60% 10.13% 9.73% 10.02% 11.40% 10.20% 11.47%
Property, plant and equipment 87.05 85.59 83.61 86.21 86.76 87.26 86.14 85.94 85.71 84.77 84.18 82.31 82.49 82.21 81.04 80.21 80.16 80.00 79.08 81.32 81.23 81.82
Accumulated depreciation -56.46 -55.44 -56.53 -58.27 -58.56 -58.88 -57.94 -57.73 -57.26 -56.40 -55.70 -54.38 -54.26 -53.88 -52.74 -52.75 -52.79 -52.70 -51.88 -54.23 -54.25 -54.36
Property, plant and equipment, net 30.60% 30.15% 27.08% 27.93% 28.20% 28.37% 28.21% 28.21% 28.46% 28.37% 28.48% 27.93% 28.23% 28.32% 28.30% 27.46% 27.37% 27.30% 27.20% 27.09% 26.98% 27.45%
Investments in unconsolidated businesses 0.19 0.17 0.19 0.21 0.21 0.22 0.22 0.23 0.24 0.25 0.25 0.24 0.27 0.28 0.28 0.29 0.30 0.29 0.29 0.31 0.16 0.16
Wireless licenses 38.56 37.59 38.85 40.41 40.91 41.20 40.71 41.05 41.22 41.06 40.94 40.40 39.83 39.84 39.45 39.80 40.18 40.49 40.27 41.24 28.07 28.36
Deposits for wireless licenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13.15 13.16
Goodwill 7.48 7.33 5.65 5.88 5.96 6.01 5.94 5.99 6.02 6.01 6.01 7.44 7.54 7.59 7.55 7.61 7.74 7.83 7.80 7.04 7.14 7.19
Other intangible assets, net 3.00 3.06 2.59 2.71 2.77 2.85 2.89 2.80 2.82 2.85 2.91 2.85 2.92 2.98 3.02 2.98 3.05 3.13 3.19 1.99 2.01 2.69
Wireless licenses, goodwill and other intangible assets 49.04% 47.98% 47.08% 49.00% 49.65% 50.06% 49.54% 49.85% 50.06% 49.92% 49.85% 50.69% 50.29% 50.41% 50.02% 50.40% 50.97% 51.45% 51.26% 50.27% 50.36% 51.41%
Operating lease right-of-use assets 5.65 5.60 5.81 6.12 6.25 6.36 6.36 6.19 6.35 6.41 6.50 6.52 6.67 6.87 6.88 7.09 7.32 7.52 7.61 7.91 8.07 6.46
Other assets 5.37 5.40 5.75 5.41 5.56 5.17 5.14 4.86 4.86 5.07 5.23 4.72 4.70 4.66 4.55 4.17 3.91 3.71 3.64 3.02 4.23 3.05
Non-current assets 90.84% 89.30% 85.92% 88.67% 89.86% 90.18% 89.47% 89.34% 89.96% 90.02% 90.32% 90.09% 90.16% 90.54% 90.03% 89.40% 89.87% 90.27% 89.98% 88.60% 89.80% 88.53%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).

The asset structure is characterized by a heavy concentration in non-current assets, which consistently represent between 85% and 90% of total assets throughout the analyzed period. Current assets maintain a relatively stable but small footprint, generally fluctuating between 9% and 11%, with a notable peak of 14.08% in December 2025.

Liquidity and Current Asset Trends
Cash and cash equivalents exhibit significant volatility, reaching a low of 0.45% in March 2022 before spiking to 4.71% by December 2025, and subsequently falling to 0.43% by June 2026. Accounts receivable remain the most stable component of current assets, consistently ranging between 6.0% and 6.8%. Inventories and prepaid expenses represent minimal portions of the total asset base, typically staying below 3%.
Fixed Asset Investment and Depreciation
There is a gradual upward trend in gross property, plant, and equipment, rising from 81.82% in March 2021 to 87.05% by June 2026, indicating sustained capital expenditure in physical infrastructure. This is offset by substantial accumulated depreciation, which consistently ranges from -51% to -58%. Consequently, net property, plant, and equipment remain relatively steady, fluctuating between 27% and 30% of total assets.
Intangible Assets and Spectrum Licenses
A significant structural shift occurred in the third quarter of 2021, where wireless licenses jumped from 28.07% to 41.24% of total assets. This proportion remained elevated, generally staying between 38% and 41% through June 2026. Goodwill showed a gradual decline from 7.19% in early 2021 to approximately 6% by late 2024, before increasing again to 7.48% by June 2026. Total wireless licenses, goodwill, and other intangible assets collectively represent approximately half of the total asset base.
Other Non-Current Assets
Operating lease right-of-use assets show a steady downward trend, decreasing from 6.46% in March 2021 to 5.65% by June 2026. Conversely, other assets have seen a gradual increase, rising from 3.05% at the start of the period to 5.37% by the end of the analysis period.

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