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 17, 2026 | 12.02 | = | 48.93 | ÷ | 4.07 | 4.07 | = | 17,174 | ÷ | 4,217,684,168 | |
| 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: 2025-12-31), 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 price-to-earnings (P/E) ratio exhibits considerable fluctuation over the observed period. Initially, the ratio demonstrates an increasing trend from 2006 to 2008, followed by a significant decline in 2009. Subsequent years reveal volatility, with peaks in 2011 and 2012, and a subsequent return to lower levels before another period of fluctuation. More recently, the ratio has shown a downward trend from 2021 to 2023, followed by a slight increase in 2024 and a further increase projected for 2025 and 2026.
- Initial Trend (2006-2008)
- From 2006 to 2008, the P/E ratio increased from 13.61 to 19.33. This suggests a growing investor confidence in the company’s earnings potential during this period, or potentially an overvaluation of the share price relative to earnings.
- Significant Decline (2009)
- A substantial decrease in the P/E ratio occurred in 2009, falling to 12.63. This coincided with a decrease in share price and a modest increase in earnings per share, indicating a potential market correction or increased investor uncertainty during that year.
- Volatility and Peaks (2010-2012)
- The period between 2010 and 2012 was characterized by significant volatility. The P/E ratio peaked at 40.96 in 2011, driven by a substantial decline in earnings per share while the share price increased. In 2012, the ratio remained high at 44.99, reflecting exceptionally low earnings per share relative to the share price. This suggests a period of potentially inflated valuation or temporary earnings suppression.
- Return to Lower Levels (2013-2016)
- Following the peaks of 2011 and 2012, the P/E ratio decreased, reaching 11.54 in 2016. This decline was primarily driven by increases in earnings per share, suggesting a return to more reasonable valuation levels. The ratio experienced fluctuations within this range, indicating a period of relative stability.
- Recent Trends (2017-2026)
- From 2017 through 2023, the P/E ratio fluctuated, generally trending downwards. The ratio reached a low of 7.91 in 2023. However, projections for 2024, 2025, and 2026 indicate a potential upward trend, with the ratio increasing to 12.02 in 2026. This suggests a possible shift in investor sentiment or anticipated earnings growth.
Overall, the P/E ratio demonstrates a lack of consistent trend, influenced by both share price and earnings per share fluctuations. The periods of high P/E ratios warrant further investigation to understand the underlying factors driving those valuations.
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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 17, 2026 | 12.02 | 8.67 | 21.00 |
| 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: 2025-12-31), 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 17, 2026 | 12.02 | 12.53 |
| 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: 2025-12-31), 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 17, 2026 | 12.02 | 25.05 |
| Feb 12, 2025 | 9.75 | 23.64 |
| Feb 9, 2024 | 14.38 | 24.04 |
| Feb 10, 2023 | 7.91 | 25.67 |
| Feb 11, 2022 | 10.14 | 21.27 |
| Feb 25, 2021 | 13.13 | 36.86 |
| Feb 21, 2020 | 12.49 | 24.32 |
| Feb 15, 2019 | 14.68 | 19.52 |
| Feb 23, 2018 | 6.54 | 18.12 |
| Feb 21, 2017 | 15.35 | 24.36 |
| Feb 23, 2016 | 11.54 | 23.89 |
| Feb 23, 2015 | 21.06 | 26.45 |
| Feb 27, 2014 | 17.11 | 21.66 |
| Feb 26, 2013 | 150.66 | 27.51 |
| Feb 24, 2012 | 44.99 | 24.54 |
| Feb 28, 2011 | 40.96 | 16.12 |
| Feb 26, 2010 | 22.47 | 16.95 |
| Feb 24, 2009 | 12.63 | 13.32 |
| Feb 28, 2008 | 19.33 | 20.95 |
| Mar 1, 2007 | 17.42 | 28.07 |
| Mar 14, 2006 | 13.61 | 24.36 |
Based on: 10-K (reporting date: 2025-12-31), 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).