Financials Verizon Communications, Inc.

Equities

VZ

US92343V1044

Integrated Telecommunications Services

Real-time Estimate Cboe BZX Other stock markets 12:21:28 19/09/2024 am IST			5-day change	1st Jan Change
44.06 ^USD	-0.06%		+0.58%	+16.86%

17/09	Communications Services Flat on Growth Doubts - Communications Services Roundup	DJ
17/09	Verizon Communications Expands Cybersecurity Partnership With Monumental Sports & Entertainment	MT

Projected Income Statement: Verizon Communications, Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,31,868	1,28,292	1,33,613	1,36,835	1,33,974	1,35,159	1,37,672	1,39,728
Change	-	-2.71%	4.15%	2.41%	-2.09%	0.88%	1.86%	1.49%
EBITDA ¹	47,189	47,060	48,380	47,870	47,789	48,782	49,768	50,819
Change	-	-0.27%	2.8%	-1.05%	-0.17%	2.08%	2.02%	2.11%
EBIT ¹	30,378	28,798	32,448	30,467	22,877	30,963	31,825	32,840
Change	-	-5.2%	12.67%	-6.11%	-24.91%	35.35%	2.79%	3.19%
Interest Paid ¹	-4,730	-4,247	-3,485	-3,613	-5,524	-6,642	-6,552	-6,473
Earnings before Tax (EBT) ¹	22,733	23,967	29,420	28,271	16,987	24,522	25,662	26,838
Change	-	5.43%	22.75%	-3.91%	-39.91%	44.36%	4.65%	4.58%
Net income ¹	19,265	17,801	22,065	21,256	11,614	18,547	19,400	20,473
Change	-	-7.6%	23.95%	-3.67%	-45.36%	59.69%	4.6%	5.53%
Announcement Date	30/01/20	26/01/21	25/01/22	24/01/23	23/01/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: Dezember	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	32,894	34,775	31,610	30,447	31,543	34,692	32,867	33,764	32,915	34,067	33,554	33,789	34,241	35,251	32,912	32,596	33,336	35,130	32,981	32,796	33,742	35,543	33,558	33,685	34,163	35,895
Change	-	5.72%	-9.1%	-3.68%	3.6%	9.98%	-5.26%	2.73%	-2.51%	3.5%	-1.51%	0.7%	1.34%	2.95%	-6.64%	-0.96%	2.27%	5.38%	-6.12%	-0.56%	2.88%	5.34%	-5.58%	0.38%	1.42%	5.07%
EBITDA ¹	12,033	11,134	11,924	11,542	11,870	11,724	12,167	12,185	12,263	11,765	12,032	11,873	12,218	11,747	11,902	11,971	12,238	11,678	12,072	12,301	12,372	12,076	12,311	12,397	12,493	12,348
Change	-	-7.47%	7.1%	-3.2%	2.84%	-1.23%	3.78%	0.15%	0.64%	-4.06%	2.27%	-1.32%	2.91%	-3.85%	1.32%	0.58%	2.23%	-4.58%	3.37%	1.9%	0.58%	-2.39%	1.94%	0.7%	0.77%	-1.16%
EBIT ¹	8,180	6,639	6,579	7,361	7,678	7,180	7,770	8,165	8,905	7,608	7,796	7,552	7,894	7,225	7,584	7,220	7,473	600	7,521	7,818	7,942	7,582	7,859	7,940	8,018	7,822
Change	-	-18.84%	-0.9%	11.89%	4.31%	-6.49%	8.22%	5.08%	9.06%	-14.56%	2.47%	-3.13%	4.53%	-8.47%	4.97%	-4.8%	3.5%	-91.97%	1,153.5%	3.95%	1.59%	-4.54%	3.66%	1.03%	0.98%	-2.45%
Charge d'intérêts ¹	-1,146	-1,159	-1,034	-1,089	-1,044	-1,080	-1,101	-844	-801	-739	-786	-785	-937	-1,105	-1,207	-1,285	-1,433	-1,599	-1,635	-1,698	-1,662	-1,662	-1,664	-1,591	-1,644	-1,635
Earnings before Tax (EBT) ¹	6,923	3,712	5,676	6,187	5,851	6,253	7,078	7,824	8,374	6,144	6,083	6,857	6,520	8,811	6,500	6,112	6,192	-1,817	6,075	6,034	6,456	6,045	6,374	6,637	6,710	6,291
Change	-	-46.38%	52.91%	9%	-5.43%	6.87%	13.19%	10.54%	7.03%	-26.63%	-0.99%	12.72%	-4.91%	35.14%	-26.23%	-5.97%	1.31%	-	-	-0.67%	6.99%	-6.36%	5.43%	4.14%	1.1%	-6.24%
Net income ¹	5,194	5,095	4,156	4,700	4,357	4,588	5,245	5,800	6,407	4,613	4,580	5,199	4,900	6,577	4,909	4,648	4,762	-2,705	4,602	4,593	4,823	4,540	4,659	4,819	4,850	4,700
Change	-	-1.91%	-18.43%	13.09%	-7.3%	5.3%	14.32%	10.58%	10.47%	-28%	-0.72%	13.52%	-5.75%	34.22%	-25.36%	-5.32%	2.45%	-	-	-0.2%	5.01%	-5.87%	2.61%	3.45%	0.63%	-3.08%
Announcement Date	25/10/19	30/01/20	24/04/20	24/07/20	21/10/20	26/01/21	21/04/21	21/07/21	20/10/21	25/01/22	22/04/22	22/07/22	21/10/22	24/01/23	25/04/23	25/07/23	24/10/23	23/01/24	22/04/24	22/07/24	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Verizon Communications, Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,08,895	1,06,891	1,55,390	1,48,034	1,48,609	1,42,989	1,34,807	1,27,131
Change	-	-1.84%	45.37%	-4.73%	0.39%	-3.78%	-5.72%	-5.69%
Announcement Date	30/01/20	26/01/21	25/01/22	24/01/23	23/01/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Verizon Communications, Inc.

Fiscal Period: Dezember	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	17,939	18,200	20,286	23,087	18,767	17,225	17,417	17,612
Change	-	1.45%	11.46%	13.81%	-18.71%	-8.22%	1.11%	1.12%
Free Cash Flow (FCF) ¹	17,807	23,600	19,253	14,054	18,708	18,683	19,281	19,938
Change	-	32.53%	-18.42%	-27%	33.12%	-0.13%	3.2%	3.41%
Announcement Date	30/01/20	26/01/21	25/01/22	24/01/23	23/01/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Verizon Communications, Inc.

Fiscal Period: Dezember	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	35.79%	36.68%	36.21%	34.98%	35.67%	36.09%	36.15%	36.37%
EBIT Margin (%)	23.04%	22.45%	24.29%	22.27%	17.08%	22.91%	23.12%	23.5%
EBT Margin (%)	17.24%	18.68%	22.02%	20.66%	12.68%	18.14%	18.64%	19.21%
Net margin (%)	14.61%	13.88%	16.51%	15.53%	8.67%	13.72%	14.09%	14.65%
FCF margin (%)	13.5%	18.4%	14.41%	10.27%	13.96%	13.82%	14.01%	14.27%
FCF / Net Income (%)	92.43%	132.58%	87.26%	66.12%	161.08%	100.74%	99.39%	97.39%
Profitability
ROA	6.92%	5.85%	6.56%	5.83%	5.23%	5.01%	5.05%	5.08%
ROE	33.64%	31.4%	29.92%	25.17%	21.64%	19.63%	18.45%	17.71%
Financial Health
Leverage (Debt/EBITDA)	2.31x	2.27x	3.21x	3.09x	3.11x	2.93x	2.71x	2.5x
Debt / Free cash flow	6.12x	4.53x	8.07x	10.53x	7.94x	7.65x	6.99x	6.38x
Capital Intensity
CAPEX / Current Assets (%)	13.6%	14.19%	15.18%	16.87%	14.01%	12.74%	12.65%	12.6%
CAPEX / EBITDA (%)	38.02%	38.67%	41.93%	48.23%	39.27%	35.31%	35%	34.66%
CAPEX / FCF (%)	100.74%	77.12%	105.37%	164.27%	100.32%	92.19%	90.33%	88.33%
Items per share
Cash flow per share ¹	8.634	10.08	9.528	8.835	8.899	8.34	8.569	8.712
Change	-	16.79%	-5.52%	-7.27%	0.73%	-6.28%	2.74%	1.67%
Dividend per Share ¹	2.435	2.485	2.535	1.932	2.635	2.676	2.724	2.778
Change	-	2.05%	2.01%	-23.77%	36.35%	1.57%	1.8%	1.97%
Book Value Per Share ¹	14.84	16.39	19.82	21.7	22.97	23.57	25.5	27.45
Change	-	10.45%	20.89%	9.5%	5.84%	2.6%	8.2%	7.63%
EPS ¹	4.65	4.3	5.32	5.06	2.75	4.427	4.64	4.901
Change	-	-7.53%	23.72%	-4.89%	-45.65%	60.97%	4.83%	5.63%
Nbr of stocks (in thousands)	41,35,784	41,38,094	41,97,774	41,99,817	42,04,102	42,09,520	42,09,520	42,09,520
Announcement Date	30/01/20	26/01/21	25/01/22	24/01/23	23/01/24	-	-	-