Verizon Communications Inc., current enterprise value calculation

Current share price (P)	$42.12
No. shares of common stock outstanding	4,216,254,914
US$ in millions
Common equity (market value)¹	177,589)
Add: Series preferred stock, $0.10 par value; none issued (per books)	—)
Add: Noncontrolling interests (per books)	1,338)
Total equity	178,927)
Add: Debt maturing within one year (per books)	22,633)
Add: Long-term debt, excluding maturing within one year (per books)	121,381)
Total equity and debt	322,941)
Less: Cash and cash equivalents	4,194)
Enterprise value (EV)	318,747)

Based on: 10-K (reporting date: 2024-12-31).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 42.12 × 4,216,254,914

Verizon Communications Inc., EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$40.53	$39.72	$40.01	$53.32	$56.50
No. shares of common stock outstanding¹	4,209,703,958	4,204,272,443	4,199,882,937	4,197,823,662	4,138,148,588
US$ in millions
Common equity (market value)³	170,619)	166,994)	168,037)	223,828)	233,805)
Add: Series preferred stock, $0.10 par value; none issued (book value)	—)	—)	—)	—)	—)
Add: Noncontrolling interests (book value)	1,338)	1,369)	1,319)	1,410)	1,430)
Total equity	171,957)	168,363)	169,356)	225,238)	235,235)
Add: Debt maturing within one year (book value)	22,633)	12,973)	9,963)	7,443)	5,889)
Add: Long-term debt, excluding maturing within one year (book value)	121,381)	137,701)	140,676)	143,425)	123,173)
Total equity and debt	315,971)	319,037)	319,995)	376,106)	364,297)
Less: Cash and cash equivalents	4,194)	2,065)	2,605)	2,921)	22,171)
Enterprise value (EV)	311,777)	316,972)	317,390)	373,185)	342,126)

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).

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Verizon Communications Inc. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 40.53 × 4,209,703,958

The financial data reveals several notable trends related to equity, debt, and valuation over a five-year period.

Common equity (market value): There is a consistent downward trend in common equity market value from 2020 to 2023, declining from approximately $233.8 billion to about $167.0 billion. The value slightly recovers in 2024 to around $170.6 billion, but overall, the market value of common equity has decreased significantly over the period.
Total equity: Total equity follows a similar pattern as common equity, decreasing steadily from $235.2 billion in 2020 to $168.4 billion in 2023. A modest increase occurs in 2024, raising total equity to approximately $172.0 billion. This indicates a contraction in shareholder equity over the five years, with a slight rebound in the final year.
Total equity and debt: The combined amount of equity and debt starts at $364.3 billion in 2020 and fluctuates slightly over the years, peaking at $376.1 billion in 2021 before declining to $315.0 billion in 2024. This represents a reduction in the overall capital base, reflecting a decrease in total financial resources employed by the company.
Enterprise value (EV): Enterprise value mirrors the trend of total equity and debt, increasing from $342.1 billion in 2020 to a high of $373.2 billion in 2021, then progressively falling to $311.8 billion by 2024. This downward movement suggests declining market perceptions of the company's total value including debt and equity constituents.

Overall, the data indicates a contraction in equity values accompanied by a reduction in total enterprise capitalization. While there is a notable dip especially after 2021, some stabilization and minor recovery are evident by 2024. These patterns may reflect market conditions, operational performance, or strategic financial decisions impacting capital structure and valuation.

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Verizon Communications Inc. (NYSE:VZ)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)