Stock Analysis on Net
Stock Analysis on Net

Verizon Communications Inc. (NYSE:VZ)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Verizon Communications Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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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
Debt maturing within one year 6.76 4.61 5.19 5.76 5.95 5.88 5.71 6.13 4.10 3.41 3.37 3.90 3.20 2.62 4.00 3.48 3.67 2.03 2.16 2.01 2.55
Accounts payable and accrued liabilities 5.25 6.18 5.33 5.19 5.10 6.08 5.83 5.20 5.30 6.17 6.79 5.28 5.10 6.32 5.93 5.66 4.97 6.77 5.70 4.96 4.98
Current operating lease liabilities 1.13 1.12 1.16 1.23 1.23 1.15 1.13 1.12 1.13 1.12 1.01 1.11 1.11 1.09 1.06 1.06 1.05 1.05 1.02 1.11 1.02
Other current liabilities 3.59 3.52 3.66 3.72 3.77 3.73 3.55 3.58 3.58 3.30 3.30 3.24 3.24 3.19 3.19 3.10 3.05 3.01 2.82 3.39 2.65
Current liabilities 16.72% 15.43% 15.34% 15.90% 16.05% 16.84% 16.22% 16.04% 14.11% 14.00% 14.47% 13.53% 12.65% 13.21% 14.17% 13.30% 12.74% 12.86% 11.70% 11.48% 11.21%
Long-term debt, excluding maturing within one year 34.51 34.52 32.61 32.33 31.82 31.55 33.81 33.24 35.80 36.21 34.94 36.29 37.27 37.05 35.43 36.79 38.27 39.12 40.56 41.49 43.32
Employee benefit obligations 2.88 2.75 2.85 2.91 3.10 3.12 3.34 3.38 3.37 3.47 3.18 3.25 3.38 3.42 4.24 4.09 4.13 4.20 4.67 4.79 5.28
Deferred income taxes 11.80 12.05 12.42 12.15 12.26 12.15 12.03 12.15 12.09 12.04 11.55 11.59 11.56 11.44 11.22 11.39 11.30 11.10 10.89 10.75 10.63
Non-current operating lease liabilities 4.47 4.69 4.94 5.00 5.09 5.18 5.05 5.13 5.17 5.26 5.40 5.46 5.64 5.68 5.91 6.10 6.27 6.33 6.65 6.69 5.14
Other liabilities 4.58 4.42 4.46 4.47 4.84 5.02 3.92 4.33 4.28 4.35 4.73 4.48 4.56 4.85 5.35 4.73 4.00 3.69 3.33 3.29 3.38
Long-term liabilities 58.24% 58.41% 57.28% 56.87% 57.12% 57.02% 58.16% 58.24% 60.71% 61.34% 59.78% 61.07% 62.41% 62.43% 62.16% 63.10% 63.97% 64.44% 66.09% 67.01% 67.76%
Total liabilities 74.96% 73.84% 72.61% 72.77% 73.17% 73.86% 74.38% 74.27% 74.82% 75.33% 74.25% 74.60% 75.06% 75.65% 76.33% 76.40% 76.71% 77.30% 77.79% 78.49% 78.97%
Series preferred stock, $0.10 par value; none issued 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 0.00
Common stock, $0.10 par value 0.10 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.12 0.12 0.12 0.12 0.12 0.12
Additional paid in capital 3.17 3.31 3.45 3.50 3.53 3.50 3.54 3.57 3.57 3.58 3.51 3.56 3.58 3.53 3.59 3.75 3.79 3.78 3.79 3.84 3.88
Retained earnings 23.17 23.44 24.55 24.34 23.96 23.16 22.81 22.82 22.28 21.81 22.98 22.75 22.38 21.70 20.94 20.64 20.20 19.64 19.82 18.99 18.26
Accumulated other comprehensive income (loss) -0.57 -0.43 -0.43 -0.38 -0.39 -0.24 -0.44 -0.34 -0.32 -0.36 -0.37 -0.51 -0.58 -0.49 -0.45 -0.36 -0.25 -0.25 -0.20 -0.07 0.19
Common stock in treasury, at cost -1.28 -0.81 -0.85 -0.86 -0.87 -0.93 -0.94 -0.95 -0.95 -1.00 -0.99 -1.01 -1.01 -1.06 -1.07 -1.09 -1.10 -1.12 -1.88 -1.90 -1.92
Deferred compensation, employee stock ownership plans (ESOPs) and other 0.12 0.22 0.21 0.19 0.14 0.19 0.19 0.15 0.11 0.17 0.16 0.14 0.11 0.21 0.20 0.18 0.14 0.15 0.14 0.12 0.08
Equity attributable to Verizon 24.72% 25.84% 27.05% 26.89% 26.48% 25.80% 25.27% 25.37% 24.81% 24.31% 25.40% 25.05% 24.59% 24.01% 23.32% 23.24% 22.90% 22.31% 21.80% 21.10% 20.61%
Noncontrolling interests 0.31 0.32 0.34 0.34 0.35 0.35 0.35 0.36 0.37 0.36 0.35 0.34 0.35 0.35 0.35 0.36 0.39 0.38 0.41 0.41 0.42
Total equity 25.04% 26.16% 27.39% 27.23% 26.83% 26.14% 25.62% 25.73% 25.18% 24.67% 25.75% 25.40% 24.94% 24.35% 23.67% 23.60% 23.29% 22.70% 22.21% 21.51% 21.03%
Total liabilities and equity 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: 2026-03-31), 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).

A systemic shift in the capital structure is evident, characterized by a gradual reduction in the proportion of total liabilities relative to total equity. Total liabilities declined from 78.97% in March 2021 to 74.96% by March 2026, while total equity increased from 21.03% to 25.04% over the same period. This trend indicates a strengthening of the equity base and a reduction in overall leverage.

Debt Profile and Maturity
Long-term debt, excluding amounts maturing within one year, demonstrated a consistent downward trajectory, falling from 43.32% in March 2021 to 34.51% by March 2026. In contrast, debt maturing within one year experienced a significant increase, rising from 2.55% in March 2021 to 6.76% by March 2026. This inverse relationship suggests a shift in the debt maturity profile, with a larger portion of obligations becoming due in the short term.
Current Liability Trends
Total current liabilities grew from 11.21% in March 2021 to 16.72% by March 2026. This increase is primarily driven by the rise in short-term debt maturities and a moderate upward trend in other current liabilities, which moved from 2.65% to 3.59%. Accounts payable and accrued liabilities remained relatively volatile, fluctuating between 4.96% and 6.79%.
Equity and Retained Earnings
The expansion of total equity was largely fueled by the growth of retained earnings, which increased from 18.26% in March 2021 to 23.17% by March 2026, reaching a peak of 24.55% in September 2025. This suggests a consistent accumulation of earnings over the period. Additional paid-in capital showed a slight downward trend, decreasing from 3.88% to 3.17%.
Other Long-Term Obligations
Employee benefit obligations showed a steady decline from 5.28% in March 2021 to 2.88% by March 2026. Deferred income taxes remained a stable and significant component of the balance sheet, consistently ranging between 10.63% and 12.42%. Non-current operating lease liabilities also experienced a gradual decrease, moving from 5.14% in March 2021 to 4.47% by March 2026.

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