Price to Earnings (P/E)
since 2005
Calculation
Verizon Communications Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income attributable to Verizon1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 12, 2025 | 9.75 | = | 40.53 | ÷ | 4.16 | 4.16 | = | 17,506 | ÷ | 4,209,703,958 | |
| Feb 9, 2024 | 14.38 | = | 39.72 | ÷ | 2.76 | 2.76 | = | 11,614 | ÷ | 4,204,272,443 | |
| Feb 10, 2023 | 7.91 | = | 40.01 | ÷ | 5.06 | 5.06 | = | 21,256 | ÷ | 4,199,882,937 | |
| Feb 11, 2022 | 10.14 | = | 53.32 | ÷ | 5.26 | 5.26 | = | 22,065 | ÷ | 4,197,823,662 | |
| Feb 25, 2021 | 13.13 | = | 56.50 | ÷ | 4.30 | 4.30 | = | 17,801 | ÷ | 4,138,148,588 | |
| Feb 21, 2020 | 12.49 | = | 58.20 | ÷ | 4.66 | 4.66 | = | 19,265 | ÷ | 4,135,863,778 | |
| Feb 15, 2019 | 14.68 | = | 55.16 | ÷ | 3.76 | 3.76 | = | 15,528 | ÷ | 4,132,045,883 | |
| Feb 23, 2018 | 6.54 | = | 48.29 | ÷ | 7.38 | 7.38 | = | 30,101 | ÷ | 4,079,486,153 | |
| Feb 21, 2017 | 15.35 | = | 49.43 | ÷ | 3.22 | 3.22 | = | 13,127 | ÷ | 4,076,731,752 | |
| Feb 23, 2016 | 11.54 | = | 50.63 | ÷ | 4.39 | 4.39 | = | 17,879 | ÷ | 4,073,840,949 | |
| Feb 23, 2015 | 21.06 | = | 48.77 | ÷ | 2.32 | 2.32 | = | 9,625 | ÷ | 4,155,408,208 | |
| Feb 27, 2014 | 17.11 | = | 47.50 | ÷ | 2.78 | 2.78 | = | 11,497 | ÷ | 4,141,140,749 | |
| Feb 26, 2013 | 150.66 | = | 46.12 | ÷ | 0.31 | 0.31 | = | 875 | ÷ | 2,858,275,417 | |
| Feb 24, 2012 | 44.99 | = | 38.14 | ÷ | 0.85 | 0.85 | = | 2,404 | ÷ | 2,835,524,157 | |
| Feb 28, 2011 | 40.96 | = | 36.92 | ÷ | 0.90 | 0.90 | = | 2,549 | ÷ | 2,828,072,313 | |
| Feb 26, 2010 | 22.47 | = | 28.93 | ÷ | 1.29 | 1.29 | = | 3,651 | ÷ | 2,835,726,911 | |
| Feb 24, 2009 | 12.63 | = | 28.57 | ÷ | 2.26 | 2.26 | = | 6,428 | ÷ | 2,840,569,560 | |
| Feb 28, 2008 | 19.33 | = | 37.18 | ÷ | 1.92 | 1.92 | = | 5,521 | ÷ | 2,870,955,142 | |
| Mar 1, 2007 | 17.42 | = | 37.10 | ÷ | 2.13 | 2.13 | = | 6,197 | ÷ | 2,909,893,627 | |
| Mar 14, 2006 | 13.61 | = | 34.39 | ÷ | 2.53 | 2.53 | = | 7,397 | ÷ | 2,926,823,217 |
Based on: 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Verizon Communications Inc. Annual Report.
The share price of the company exhibited a generally upward trajectory from 2006 through 2021, increasing from $34.39 to a peak near $58.20 in early 2020. Notable fluctuations occurred during this period, with a decline around 2009 to approximately $28.57 and a significant rise between 2012 and 2013. After reaching its peak in 2020, the share price experienced a marked decline through early 2023, dropping to approximately $39.72 before a modest recovery to $40.53 in early 2025.
Earnings per share (EPS) showed considerable volatility over the analyzed years. Initially, EPS decreased from $2.53 in 2006 to a low of $0.31 in 2013, indicating challenges in profitability or earnings stability. Subsequently, a strong recovery is evident, with EPS peaking at $7.38 in early 2018. Following this, values fluctuated but generally remained elevated above $2.70, reflecting periods of both growth and correction. The EPS stood at $4.16 in early 2025, suggesting a stabilized performance relative to earlier years.
The price-to-earnings (P/E) ratio demonstrated significant variation, corresponding with changes in both share price and EPS. The ratio fluctuated broadly, rising to extreme levels such as approximately 150.66 in 2013, indicative of either a temporary drop in earnings or heightened market valuation expectations. Periods of lower P/E ratios, such as around 6.54 in 2018, suggest either undervaluation or improved earnings relative to share price. The P/E ratio as of early 2025 was below 10, suggesting a relatively moderate valuation compared to earnings.
- Share Price Trends
- Gradual increase from 2006 to 2020 with intermittent fluctuations; notable peak in 2020 followed by a pronounced decline and slight recovery.
- Earnings per Share (EPS) Dynamics
- Significant volatility with a low point around 2013; strong rebound post-2013 with peaks and some oscillations, indicating variability in profitability.
- Price-to-Earnings (P/E) Ratio Movements
- Wide fluctuations from modest to extremely high values, reflecting changing investor expectations and earnings performance; recent values suggest more balanced market valuation.
Comparison to Competitors
Verizon Communications Inc., P/E, long-term trends, comparison to competitors
| Verizon Communications Inc. | AT&T Inc. | T-Mobile US Inc. | |
|---|---|---|---|
| Feb 12, 2025 | 9.75 | 16.94 | 23.46 |
| Feb 9, 2024 | 14.38 | 8.47 | 23.09 |
| Feb 10, 2023 | 7.91 | — | 69.44 |
| Feb 11, 2022 | 10.14 | 8.60 | 51.43 |
| Feb 25, 2021 | 13.13 | — | 48.36 |
| Feb 21, 2020 | 12.49 | 19.92 | 20.45 |
| Feb 15, 2019 | 14.68 | 11.60 | 20.10 |
| Feb 23, 2018 | 6.54 | 7.67 | 11.23 |
| Feb 21, 2017 | 15.35 | 19.63 | 36.24 |
| Feb 23, 2016 | 11.54 | 17.05 | 44.48 |
| Feb 23, 2015 | 21.06 | 28.42 | 104.16 |
| Feb 27, 2014 | 17.11 | 9.36 | 698.59 |
| Feb 26, 2013 | 150.66 | 26.97 | — |
| Feb 24, 2012 | 44.99 | 45.61 | — |
| Feb 28, 2011 | 40.96 | 8.36 | — |
| Feb 26, 2010 | 22.47 | 11.66 | — |
| Feb 24, 2009 | 12.63 | 10.86 | — |
| Feb 28, 2008 | 19.33 | 17.78 | — |
| Mar 1, 2007 | 17.42 | 31.83 | — |
| Mar 14, 2006 | 13.61 | 22.77 | — |
Based on: 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Telecommunication Services)
Verizon Communications Inc., P/E, long-term trends, comparison to sector (telecommunication services)
| Verizon Communications Inc. | Telecommunication Services | |
|---|---|---|
| Feb 12, 2025 | 9.75 | 15.63 |
| Feb 9, 2024 | 14.38 | 14.04 |
| Feb 10, 2023 | 7.91 | 32.09 |
| Feb 11, 2022 | 10.14 | 12.24 |
| Feb 25, 2021 | 13.13 | 37.83 |
| Feb 21, 2020 | 12.49 | 16.07 |
| Feb 15, 2019 | 14.68 | 13.52 |
| Feb 23, 2018 | 6.54 | 7.39 |
| Feb 21, 2017 | 15.35 | 18.44 |
| Feb 23, 2016 | 11.54 | 14.54 |
| Feb 23, 2015 | 21.06 | 25.18 |
| Feb 27, 2014 | 17.11 | 13.16 |
| Feb 26, 2013 | 150.66 | 40.27 |
| Feb 24, 2012 | 44.99 | 45.37 |
| Feb 28, 2011 | 40.96 | 12.06 |
| Feb 26, 2010 | 22.47 | 14.10 |
| Feb 24, 2009 | 12.63 | 11.45 |
| Feb 28, 2008 | 19.33 | 18.27 |
| Mar 1, 2007 | 17.42 | 25.24 |
| Mar 14, 2006 | 13.61 | 17.21 |
Based on: 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Communication Services)
Verizon Communications Inc., P/E, long-term trends, comparison to industry (communication services)
| Verizon Communications Inc. | Communication Services | |
|---|---|---|
| Feb 12, 2025 | 9.75 | 13.70 |
| Feb 9, 2024 | 14.38 | 24.14 |
| Feb 10, 2023 | 7.91 | 25.42 |
| Feb 11, 2022 | 10.14 | 21.12 |
| Feb 25, 2021 | 13.13 | 36.52 |
| Feb 21, 2020 | 12.49 | 24.26 |
| Feb 15, 2019 | 14.68 | 19.54 |
| Feb 23, 2018 | 6.54 | 18.16 |
| Feb 21, 2017 | 15.35 | 24.37 |
| Feb 23, 2016 | 11.54 | 24.02 |
| Feb 23, 2015 | 21.06 | 26.30 |
| Feb 27, 2014 | 17.11 | 21.69 |
| Feb 26, 2013 | 150.66 | 27.65 |
| Feb 24, 2012 | 44.99 | 24.55 |
| Feb 28, 2011 | 40.96 | 16.20 |
| Feb 26, 2010 | 22.47 | 17.05 |
| Feb 24, 2009 | 12.63 | 13.30 |
| Feb 28, 2008 | 19.33 | 21.09 |
| Mar 1, 2007 | 17.42 | 28.36 |
| Mar 14, 2006 | 13.61 | 24.37 |
Based on: 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).