Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Return on Sales
Return on Investment
Verizon Communications Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-09-30), 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).
An analysis of profitability metrics from March 2022 through September 2026 reveals a divergent trend between gross profitability and operational efficiency. While gross margins have shown steady improvement and stability, operating and net profit margins, as well as returns on equity and assets, experienced a significant contraction between late 2023 and mid-2024 before entering a period of partial recovery.
- Gross Profit Margin
- The gross profit margin demonstrates a consistent upward trajectory, rising from 57.46% in March 2022 to a peak of 59.95% by September 2024. Following this peak, the margin remained relatively stable, fluctuating within a narrow range between 58.76% and 59.88% through September 2026. This indicates a sustained ability to manage direct costs relative to revenue over the observed period.
- Operating and Net Profit Margins
- Operational profitability exhibited higher volatility. The operating profit margin declined gradually from 24.18% in March 2022 to 22.00% by September 2023, followed by a sharp decline to a low of 16.29% in September 2024. A recovery is observed starting in December 2024, with margins climbing back to 23.04% by September 2025, before settling at 20.86% in September 2026. The net profit margin mirrored this pattern, dropping from 15.93% in March 2022 to a minimum of 7.30% in September 2024, subsequently recovering to 14.43% in September 2025 and ending at 11.78% in September 2026.
- Return on Equity (ROE)
- Return on equity shows a strong correlation with net profit margins. After maintaining levels above 21% through September 2023, ROE fell sharply to 10.17% by September 2024. A subsequent rebound occurred, reaching 18.88% in September 2025, followed by a moderate decline to 15.49% by the end of the period. This suggests a period of significantly reduced efficiency in generating profits from shareholder equity during the 2023-2024 timeframe.
- Return on Assets (ROA)
- The return on assets followed a similar trajectory to other efficiency ratios. ROA remained relatively stable between 5.14% and 5.85% from March 2022 through September 2023, before dropping to a low of 2.57% in September 2024. The ratio recovered to a peak of 5.11% in September 2025, eventually moderating to 3.95% by September 2026, indicating a fluctuation in the effectiveness of asset utilization.
In summary, the period is characterized by a strengthening of gross margins contrasted by a significant volatility event in operational and bottom-line profitability during 2023 and 2024. Although a recovery was achieved by 2025, the net profit margin, ROE, and ROA remained below their early 2022 benchmarks by the end of the analyzed period.
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Gross Profit Margin
Verizon Communications Inc., gross profit margin calculation (quarterly data)
| Sep 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Gross profit | 21,225) | 21,169) | 20,767) | 19,903) | 20,475) | 20,619) | 20,429) | 20,167) | 20,090) | 20,325) | 20,109) | 19,948) | 19,899) | 19,832) | 19,408) | 19,489) | 19,640) | 19,369) | 19,204) | ||||||
| Operating revenues | 34,313) | 34,253) | 34,440) | 36,381) | 33,821) | 34,504) | 33,485) | 35,681) | 33,330) | 32,796) | 32,981) | 35,130) | 33,336) | 32,596) | 32,912) | 35,251) | 34,241) | 33,789) | 33,554) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Gross profit margin1 | 59.59% | 59.26% | 58.76% | 58.92% | 59.41% | 59.35% | 59.88% | 59.87% | 59.95% | 59.80% | 59.52% | 59.03% | 58.64% | 58.05% | 57.20% | 56.79% | 56.97% | 57.35% | 57.46% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||
| AT&T Inc. | 59.74% | 59.72% | 59.41% | 59.55% | 59.67% | 59.67% | 59.90% | 59.77% | 59.91% | 59.61% | 59.33% | 59.06% | 59.11% | 58.89% | 58.37% | 57.89% | 56.22% | 55.29% | 53.79% | ||||||
| T-Mobile US Inc. | 62.07% | 62.19% | 62.22% | 62.89% | 63.55% | 63.61% | 63.76% | 63.57% | 63.42% | 62.86% | 62.27% | 61.57% | 61.13% | 59.25% | 56.78% | 54.50% | 52.57% | 52.67% | 53.09% | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 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).
1 Q3 2026 Calculation
Gross profit margin = 100
× (Gross profitQ3 2026
+ Gross profitQ2 2026
+ Gross profitQ1 2026
+ Gross profitQ4 2025)
÷ (Operating revenuesQ3 2026
+ Operating revenuesQ2 2026
+ Operating revenuesQ1 2026
+ Operating revenuesQ4 2025)
= 100 × (21,225 + 21,169 + 20,767 + 19,903)
÷ (34,313 + 34,253 + 34,440 + 36,381)
= 59.59%
2 Click competitor name to see calculations.
The gross profit margin exhibits a general upward trajectory over the analyzed period, transitioning from a mid-57% range in early 2022 to a sustained level near 59% by late 2026. This expansion indicates an improvement in the efficiency of direct cost management relative to operating revenues.
- Gross Profit Margin Trends
- A period of slight contraction occurred between March 31, 2022, and December 31, 2022, where the margin declined from 57.46% to a period low of 56.79%. This was followed by a consistent recovery and expansion phase starting in March 2023, with the margin climbing steadily to peak at 59.95% on September 30, 2024. From late 2024 through September 30, 2026, the margin entered a stabilization phase, fluctuating narrowly between 58.76% and 59.59%.
- Revenue and Profit Correlation
- Operating revenues demonstrate significant quarterly seasonality, consistently peaking in the December quarters of each year, reaching a high of 36,381 million US dollars in December 2025. Despite these fluctuations in revenue, gross profit maintained a steady growth pattern, increasing from 19,204 million US dollars in March 2022 to 21,225 million US dollars by September 2026.
- Profitability Efficiency
- The disconnect between the seasonal volatility of operating revenues and the steady increase in gross profit suggests a structural improvement in cost of goods sold or service delivery costs. The ability to sustain a margin above 58% from 2024 onward represents a higher baseline of profitability compared to the 2022 fiscal year.
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Operating Profit Margin
Verizon Communications Inc., operating profit margin calculation (quarterly data)
| Sep 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Operating income | 8,650) | 7,179) | 8,242) | 5,004) | 8,105) | 8,172) | 7,978) | 7,421) | 5,926) | 7,818) | 7,521) | 600) | 7,473) | 7,220) | 7,584) | 7,225) | 7,894) | 7,552) | 7,796) | ||||||
| Operating revenues | 34,313) | 34,253) | 34,440) | 36,381) | 33,821) | 34,504) | 33,485) | 35,681) | 33,330) | 32,796) | 32,981) | 35,130) | 33,336) | 32,596) | 32,912) | 35,251) | 34,241) | 33,789) | 33,554) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Operating profit margin1 | 20.86% | 20.54% | 21.22% | 21.17% | 23.04% | 21.53% | 21.54% | 21.28% | 16.29% | 17.44% | 17.02% | 17.08% | 22.00% | 22.17% | 22.21% | 22.27% | 22.74% | 23.72% | 24.18% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||
| AT&T Inc. | 18.30% | 20.12% | 19.81% | 19.23% | 19.04% | 15.89% | 15.42% | 15.57% | 15.56% | 18.54% | 19.05% | 19.16% | -2.38% | -2.20% | -3.40% | -3.80% | 16.73% | 16.34% | 13.72% | ||||||
| T-Mobile US Inc. | 20.66% | 19.80% | 19.86% | 20.70% | 22.28% | 23.08% | 22.75% | 22.13% | 21.13% | 19.85% | 18.93% | 18.16% | 17.27% | 14.28% | 10.29% | 8.22% | 6.07% | 6.43% | 8.15% | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 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).
1 Q3 2026 Calculation
Operating profit margin = 100
× (Operating incomeQ3 2026
+ Operating incomeQ2 2026
+ Operating incomeQ1 2026
+ Operating incomeQ4 2025)
÷ (Operating revenuesQ3 2026
+ Operating revenuesQ2 2026
+ Operating revenuesQ1 2026
+ Operating revenuesQ4 2025)
= 100 × (8,650 + 7,179 + 8,242 + 5,004)
÷ (34,313 + 34,253 + 34,440 + 36,381)
= 20.86%
2 Click competitor name to see calculations.
The operating profit margin exhibits a period of gradual decline followed by significant volatility and a subsequent stabilization phase between March 2022 and September 2026.
- Initial Margin Compression
- From March 2022 through September 2023, a consistent downward trend in the operating profit margin is observed, decreasing from 24.18% to 22.00%. This decline occurred despite operating revenues remaining relatively stable, suggesting a gradual increase in operating expenses relative to revenue generation during this period.
- Period of Significant Volatility
- A sharp contraction in profitability occurred starting in December 2023, where the operating profit margin dropped to 17.08%. This was driven by a substantial decrease in operating income to 600 million US dollars. The margin reached its lowest point of 16.29% in September 2024, indicating a period of severe operational pressure or non-recurring expenses.
- Recovery and Stabilization
- A recovery is evident starting in December 2024, with the margin returning to 21.28%. Profitability peaked again at 23.04% in September 2025 before settling into a stable range between 20.54% and 21.22% through the final quarters of the analysis. This suggests a restoration of operational efficiency and cost control.
- Revenue and Income Correlation
- Operating revenues remained remarkably consistent, generally fluctuating between 32.5 billion and 36.4 billion US dollars. The fluctuations in the operating profit margin are therefore primarily attributable to variances in operating income rather than instability in top-line revenue.
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Net Profit Margin
Verizon Communications Inc., net profit margin calculation (quarterly data)
| Sep 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income attributable to Verizon | 5,198) | 3,835) | 5,045) | 2,342) | 4,950) | 5,003) | 4,879) | 5,005) | 3,306) | 4,593) | 4,602) | (2,705) | 4,762) | 4,648) | 4,909) | 6,577) | 4,900) | 5,199) | 4,580) | ||||||
| Operating revenues | 34,313) | 34,253) | 34,440) | 36,381) | 33,821) | 34,504) | 33,485) | 35,681) | 33,330) | 32,796) | 32,981) | 35,130) | 33,336) | 32,596) | 32,912) | 35,251) | 34,241) | 33,789) | 33,554) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Net profit margin1 | 11.78% | 11.64% | 12.46% | 12.43% | 14.43% | 13.28% | 13.14% | 12.99% | 7.30% | 8.38% | 8.44% | 8.67% | 15.58% | 15.58% | 15.85% | 15.53% | 14.22% | 15.48% | 15.93% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||
| AT&T Inc. | 10.19% | 16.94% | 16.94% | 17.47% | 17.87% | 10.29% | 9.64% | 8.95% | 7.42% | 10.41% | 11.13% | 11.76% | -9.29% | -7.22% | -7.52% | -7.06% | 15.37% | 14.21% | 11.21% | ||||||
| T-Mobile US Inc. | 12.05% | 11.45% | 11.65% | 12.45% | 13.83% | 14.53% | 14.41% | 13.93% | 12.96% | 11.95% | 11.14% | 10.59% | 9.93% | 7.82% | 4.83% | 3.25% | 1.92% | 2.14% | 3.48% | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 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).
1 Q3 2026 Calculation
Net profit margin = 100
× (Net income attributable to VerizonQ3 2026
+ Net income attributable to VerizonQ2 2026
+ Net income attributable to VerizonQ1 2026
+ Net income attributable to VerizonQ4 2025)
÷ (Operating revenuesQ3 2026
+ Operating revenuesQ2 2026
+ Operating revenuesQ1 2026
+ Operating revenuesQ4 2025)
= 100 × (5,198 + 3,835 + 5,045 + 2,342)
÷ (34,313 + 34,253 + 34,440 + 36,381)
= 11.78%
2 Click competitor name to see calculations.
The analysis of quarterly profitability reveals a period of initial stability followed by a significant contraction and a subsequent partial recovery in net profit margins. Operating revenues remained relatively consistent throughout the period, typically fluctuating between $32 billion and $36 billion per quarter.
- Initial Stability Phase (March 2022 – September 2023)
- Net profit margins remained elevated and stable, ranging from a low of 14.22% to a peak of 15.93%. This period was characterized by consistent net income generation, generally exceeding $4.5 billion per quarter, reflecting a steady conversion of operating revenue into profit.
- Margin Compression Period (December 2023 – September 2024)
- A sharp decline in profitability is observed starting in the fourth quarter of 2023. Net profit margins dropped from 15.58% in September 2023 to a low of 7.30% by September 2024. This contraction occurred despite revenues remaining within historical norms, indicating that the decline was driven by a reduction in net income rather than a loss of top-line revenue.
- Recovery and Stabilization Phase (December 2024 – September 2026)
- A recovery trend emerged in the final quarter of 2024, with margins climbing back to 14.43% by September 2025. Following this peak, the profitability ratio experienced a moderate correction, stabilizing between 11.64% and 12.46% through September 2026. This suggests a return toward profitability norms, though the stabilization level remains lower than the peaks observed in 2022.
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Return on Equity (ROE)
Verizon Communications Inc., ROE calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income attributable to Verizon | 5,198) | 3,835) | 5,045) | 2,342) | 4,950) | 5,003) | 4,879) | 5,005) | 3,306) | 4,593) | 4,602) | (2,705) | 4,762) | 4,648) | 4,909) | 6,577) | 4,900) | 5,199) | 4,580) | ||||||
| Equity attributable to Verizon | 105,986) | 103,920) | 103,309) | 104,460) | 105,042) | 103,063) | 100,722) | 99,237) | 96,326) | 96,172) | 94,334) | 92,430) | 97,741) | 95,193) | 92,883) | 91,144) | 87,468) | 86,016) | 83,762) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROE1 | 15.49% | 15.56% | 16.78% | 16.44% | 18.88% | 17.65% | 17.66% | 17.64% | 10.17% | 11.70% | 11.99% | 12.57% | 21.38% | 22.10% | 23.24% | 23.32% | 22.06% | 24.18% | 25.55% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||
| AT&T Inc. | 12.30% | 19.52% | 19.54% | 19.86% | 20.09% | 12.12% | 11.43% | 10.49% | 8.85% | 12.08% | 13.03% | 13.94% | -10.90% | -8.61% | -9.16% | -8.74% | 16.37% | 16.92% | 10.26% | ||||||
| T-Mobile US Inc. | 20.07% | 18.77% | 18.87% | 18.57% | 19.63% | 19.99% | 19.50% | 18.37% | 16.14% | 15.10% | 14.10% | 12.85% | 12.03% | 9.35% | 5.70% | 3.72% | 2.19% | 2.45% | 4.01% | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 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).
1 Q3 2026 Calculation
ROE = 100
× (Net income attributable to VerizonQ3 2026
+ Net income attributable to VerizonQ2 2026
+ Net income attributable to VerizonQ1 2026
+ Net income attributable to VerizonQ4 2025)
÷ Equity attributable to Verizon
= 100 × (5,198 + 3,835 + 5,045 + 2,342)
÷ 105,986 = 15.49%
2 Click competitor name to see calculations.
The analysis of profitability ratios reveals a general downward trajectory in Return on Equity (ROE) over the observed period, characterized by a significant period of volatility followed by a partial recovery and stabilization at a lower baseline.
- Return on Equity Trends
- ROE exhibited a steady decline from a peak of 25.55% in March 2022 to 21.38% by September 2023. A sharp contraction occurred in December 2023, where the ratio dropped to 12.57%, reaching its lowest point of 10.17% in September 2024. A recovery phase followed, with ROE climbing back to a range between 15.49% and 18.88% from December 2024 through September 2026.
- Equity Growth and Dilution Effect
- A consistent upward trend in total equity is observed, growing from 83,762 million USD in March 2022 to 105,986 million USD by September 2026. This expansion of the equity base has exerted downward pressure on the ROE, as the growth in net income has not consistently scaled at the same pace as the increase in shareholder equity.
- Net Income Volatility
- Profitability experienced significant fluctuations, most notably in December 2023, when net income attributable to the company shifted to a loss of 2,705 million USD. A secondary dip in profitability is noted in December 2025, with net income falling to 2,342 million USD. These specific quarterly earnings contractions are the primary drivers behind the sharp troughs observed in the ROE percentage.
- Comparative Stability Analysis
- While the early period (2022-2023) was characterized by higher ROE levels above 20%, the latter period (2024-2026) suggests a new equilibrium. Despite the recovery from the 2024 lows, the ROE has stabilized at a lower plateau, generally oscillating between 15% and 17%, indicating a shift in the efficiency of equity utilization compared to the initial analysis period.
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Return on Assets (ROA)
Verizon Communications Inc., ROA calculation (quarterly data)
| Sep 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income attributable to Verizon | 5,198) | 3,835) | 5,045) | 2,342) | 4,950) | 5,003) | 4,879) | 5,005) | 3,306) | 4,593) | 4,602) | (2,705) | 4,762) | 4,648) | 4,909) | 6,577) | 4,900) | 5,199) | 4,580) | ||||||
| Total assets | 415,522) | 410,186) | 417,882) | 404,258) | 388,331) | 383,285) | 380,364) | 384,711) | 381,164) | 379,146) | 380,158) | 380,255) | 384,830) | 379,955) | 377,716) | 379,680) | 375,090) | 370,147) | 365,716) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROA1 | 3.95% | 3.94% | 4.15% | 4.25% | 5.11% | 4.75% | 4.68% | 4.55% | 2.57% | 2.97% | 2.97% | 3.05% | 5.43% | 5.54% | 5.71% | 5.60% | 5.14% | 5.62% | 5.85% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||
| AT&T Inc. | 2.95% | 5.03% | 5.09% | 5.22% | 5.26% | 3.15% | 2.98% | 2.77% | 2.30% | 3.20% | 3.41% | 3.54% | -2.78% | -2.15% | -2.27% | -2.12% | 4.70% | 4.67% | 3.00% | ||||||
| T-Mobile US Inc. | 5.30% | 4.94% | 4.91% | 5.01% | 5.47% | 5.74% | 5.55% | 5.45% | 4.92% | 4.53% | 4.24% | 4.00% | 3.73% | 2.92% | 1.82% | 1.23% | 0.72% | 0.82% | 1.33% | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 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).
1 Q3 2026 Calculation
ROA = 100
× (Net income attributable to VerizonQ3 2026
+ Net income attributable to VerizonQ2 2026
+ Net income attributable to VerizonQ1 2026
+ Net income attributable to VerizonQ4 2025)
÷ Total assets
= 100 × (5,198 + 3,835 + 5,045 + 2,342)
÷ 415,522 = 3.95%
2 Click competitor name to see calculations.
The Return on Assets (ROA) demonstrates a general downward trend over the analyzed period, decreasing from a high of 5.85% in March 2022 to 3.95% by September 2026. This decline indicates a reduction in the efficiency with which the company generates profit from its asset base.
- ROA Volatility and Performance
- Between March 2022 and September 2023, ROA remained relatively stable, fluctuating within a range of 5.14% to 5.85%. A significant decline occurred starting in December 2023, where ROA dropped to 3.05%, reaching its lowest point of 2.57% in September 2024. Although a recovery was observed during the first three quarters of 2025, peaking at 5.11% in September, the ratio subsequently retreated and stabilized near 3.95% by the end of the period.
- Asset Base Expansion
- Total assets grew consistently from 365,716 million US dollars in March 2022 to 415,522 million US dollars in September 2026. This steady expansion of the asset base has created a larger denominator for the ROA calculation, contributing to the compression of the ratio unless accompanied by proportional growth in net income.
- Net Income Influence
- Net income attributable to the company exhibited substantial volatility, which directly impacted profitability ratios. A notable outlier occurred in December 2023, where net income fell to negative 2,705 million US dollars, coinciding with a sharp drop in ROA. While net income generally recovered to levels between 3,835 million and 5,198 million US dollars in later periods, the growth in net income did not pace with the growth in total assets, resulting in a lower sustained ROA compared to the 2022 baseline.
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