Enterprise Value (EV)
Current Enterprise Value (EV)
Verizon Communications Inc., current enterprise value calculation
| Current share price (P) | $50.45 |
| No. shares of common stock outstanding | 4,217,684,168 |
| US$ in millions | |
| Common equity (market value)1 | 212,782) |
| Add: Series preferred stock, $0.10 par value; none issued (per books) | —) |
| Add: Noncontrolling interests (per books) | 1,281) |
| Total equity | 214,063) |
| Add: Debt maturing within one year (per books) | 18,618) |
| Add: Long-term debt, excluding maturing within one year (per books) | 139,532) |
| Total equity and debt | 372,213) |
| Less: Cash and cash equivalents | 19,048) |
| Enterprise value (EV) | 353,165) |
Based on: 10-K (reporting date: 2025-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 50.45 × 4,217,684,168
Historical Enterprise Value (EV)
Verizon Communications Inc., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Verizon Communications Inc. Annual Report.
3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 48.93 × 4,217,684,168
The information presents a five-year trend of several financial metrics, including common equity market value, total equity, total equity and debt, and enterprise value. Overall, the period from 2021 to 2023 demonstrates a contraction in these values, followed by a partial recovery in 2024 and 2025.
- Enterprise Value (EV) Trend
- Enterprise value exhibited a decline from US$373.185 billion in 2021 to US$311.777 billion in 2024. This represents a decrease of approximately 16.5%. However, 2025 shows an increase in enterprise value to US$346.754 billion, indicating a potential stabilization or renewed growth phase. The largest single-year decrease in EV occurred between 2021 and 2022.
- Equity Value Changes
- Common equity (market value) experienced a significant decrease from US$223.828 billion in 2021 to US$166.994 billion in 2023. Similar to EV, it showed a modest increase in both 2024 and 2025, reaching US$206.371 billion. Total equity mirrored this trend, declining from US$225.238 billion to US$168.363 billion over the same period, and then increasing to US$207.652 billion by 2025.
- Total Equity and Debt
- Total equity and debt decreased from US$376.106 billion in 2021 to US$315.971 billion in 2024. The value then increased to US$365.802 billion in 2025. This suggests a period of deleveraging followed by a potential reinvestment or increased borrowing. The fluctuations in this metric closely follow the trends observed in enterprise value and total equity.
- Relationship between Metrics
- Enterprise value consistently remained close to the sum of total equity and debt, as expected. The difference between these two values remained relatively small throughout the period, suggesting that the market valuation of the company’s debt is consistent with its reported value. The correlation between the decline and subsequent recovery of common equity, total equity, and enterprise value indicates a strong relationship between market perception and the underlying equity structure of the company.
In summary, the period under review was characterized by a contraction in financial values from 2021 to 2023, followed by a recovery trend in 2024 and 2025. The observed patterns suggest a dynamic financial environment with potential shifts in investor sentiment and company strategy.