Stock Analysis on Net

Verizon Communications Inc. (NYSE:VZ)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel LibreOffice Calc

Long-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Net fixed asset turnover 1.35 1.43 1.47 1.42 1.49
Net fixed asset turnover (including operating lease, right-of-use asset) 1.09 1.15 1.47 1.42 1.49
Total asset turnover 0.41 0.45 0.49 0.49 0.52
Equity turnover 1.89 2.15 2.46 2.92 5.59

Based on: 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).

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 2018 to 2019 and from 2019 to 2020.
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 2018 to 2019 and from 2019 to 2020.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Verizon Communications Inc. total asset turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Verizon Communications Inc. equity turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Net Fixed Asset Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Operating revenues 128,292  131,868  130,863  126,034  125,980 
Plant, property and equipment, net 94,833  91,915  89,286  88,568  84,751 
Long-term Activity Ratio
Net fixed asset turnover1 1.35 1.43 1.47 1.42 1.49
Benchmarks
Net Fixed Asset Turnover, Competitors2
AT&T Inc. 1.35 1.39 1.30 1.28 1.31
T-Mobile US Inc. 1.55 1.82 1.85 1.83 1.78
Net Fixed Asset Turnover, Sector
Telecommunication Services 1.38 1.45 1.41 1.39 1.42
Net Fixed Asset Turnover, Industry
Communication Services 1.70 1.77 1.71 1.71 1.67

Based on: 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).

1 2020 Calculation
Net fixed asset turnover = Operating revenues ÷ Plant, property and equipment, net
= 128,292 ÷ 94,833 = 1.35

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 2018 to 2019 and from 2019 to 2020.

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 LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Operating revenues 128,292  131,868  130,863  126,034  125,980 
 
Plant, property and equipment, net 94,833  91,915  89,286  88,568  84,751 
Operating lease right-of-use assets 22,531  22,694  —  —  — 
Plant, property and equipment, net (including operating lease, right-of-use asset) 117,364  114,609  89,286  88,568  84,751 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 1.09 1.15 1.47 1.42 1.49
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
AT&T Inc. 1.13 1.18 1.30 1.28 1.31
T-Mobile US Inc. 0.95 1.26 1.85 1.83 1.78
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Telecommunication Services 1.08 1.18 1.41 1.39 1.42
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Communication Services 1.41 1.50 1.71 1.71 1.67

Based on: 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).

1 2020 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)
= 128,292 ÷ 117,364 = 1.09

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 2018 to 2019 and from 2019 to 2020.

Total Asset Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Operating revenues 128,292  131,868  130,863  126,034  125,980 
Total assets 316,481  291,727  264,829  257,143  244,180 
Long-term Activity Ratio
Total asset turnover1 0.41 0.45 0.49 0.49 0.52
Benchmarks
Total Asset Turnover, Competitors2
AT&T Inc. 0.33 0.33 0.32 0.36 0.41
T-Mobile US Inc. 0.34 0.52 0.60 0.58 0.57
Total Asset Turnover, Sector
Telecommunication Services 0.35 0.38 0.40 0.42 0.46
Total Asset Turnover, Industry
Communication Services 0.40 0.42 0.44 0.45 0.45

Based on: 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).

1 2020 Calculation
Total asset turnover = Operating revenues ÷ Total assets
= 128,292 ÷ 316,481 = 0.41

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 2018 to 2019 and from 2019 to 2020.

Equity Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Operating revenues 128,292  131,868  130,863  126,034  125,980 
Equity attributable to Verizon 67,842  61,395  53,145  43,096  22,524 
Long-term Activity Ratio
Equity turnover1 1.89 2.15 2.46 2.92 5.59
Benchmarks
Equity Turnover, Competitors2
AT&T Inc. 1.06 0.98 0.93 1.14 1.33
T-Mobile US Inc. 1.05 1.56 1.75 1.80 2.04
Equity Turnover, Sector
Telecommunication Services 1.25 1.30 1.32 1.58 2.00
Equity Turnover, Industry
Communication Services 1.03 1.06 1.10 1.15 1.23

Based on: 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).

1 2020 Calculation
Equity turnover = Operating revenues ÷ Equity attributable to Verizon
= 128,292 ÷ 67,842 = 1.89

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 2018 to 2019 and from 2019 to 2020.