Verizon Communications Inc. · NYSE:VZ
Verizon Communications — Q4 2025 Earnings Presentation
10 slides from Verizon Communications's earnings presentation, Jan 30, 2026
Slide 1: 4Q 2025 Earnings
4Q 2025 Earnings January 30, 2026 VZQTR20FIN
Slide 2: "Safe Harbor" Statement
“Safe Harbor” Statement In this presentation we have made forward-looking statements. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements include the information concerning our possible or assumed future results of operat
Slide 3: Dan Schulman, CEO
Dan Schulman CEO
Slide 4: Operating metrics
Operating metrics Retail postpaid phone net adds (K) Retail core prepaid1 net adds (K) 3.5M Wireless retail postpaid phone gross adds (+13.0% Y/Y) 2.7M Consumer wireless retail postpaid phone gross adds (+15.3% Y/Y) Fixed wireless access net adds (K) Fios internet net adds (K) 5.6M Wireless postpaid
Slide 5: Consolidated financial summary
Consolidated financial summary Total revenue ($B) Total Wireless service revenue1 ($B) $36.4B Total revenue (+2.0% Y/Y) $11.9B Adjusted EBITDA2 (-0.6% Y/Y) (Adjusted EBITDA margin of 32.6%)2 2.5% 2.0% $1.09 Adjusted EPS2 (-0.9% Y/Y) Service & other Wireless equipment 1 Sum of Consumer and Business s
Slide 6: Consolidated cash flow summary
Consolidated cash flow summary ($ in billions) 2024 2025 Cash flow from operations $36.9 $37.1 Capital expenditures $17.1 $17.0 Free cash flow1 $19.8 $20.1 Dividends paid $11.2 $11.5 Total debt $144.0 $158.2 Unsecured debt $117.9 $131.1 Net unsecured debt1 $113.7 $110.1 Net unsecured debt to adjuste
Slide 7: 2026 guidance
2026 guidance Postpaid phone net adds 750K – 1M 2% - 3% Mobility and Broadband Service Revenue1 (approximately $93B) 4% - 5% Adjusted EPS1,2 ($4.90 - $4.95) Capex1 $16.0B - $16.5B $21.5B or more Free Cash Flow1,2 (approximately 7% or more growth) Our guidance reflects a meaningful acceleration relat
Slide 8: Capital allocation strategy
Capital allocation strategy 1 2 3 4 Investment in the business Commitment to the dividend Strong balance sheet Share repurchases Reorient capex to growth Increase per share growth Preserve credit rating Execute new program ~$16.0-16.5B in capex for 2026 +2.5% growth / $0.07 per share 2.00-2.25x long
Slide 9: Q&A
Q&A
Slide 10: Verizon confidential and proprietary. Unauthorized disclosure, reproduction or other use prohibited.
Verizon confidential and proprietary. Unauthorized disclosure, reproduction or other use prohibited. VZQTR20FIN
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