Verizon stock today: price, yield and where it sits in the market
As of the close on December 1, 2025, Verizon Communications Inc. (NYSE: VZ) trades around $40–41 per share, giving the company a market capitalization of roughly $173 billion. [1]
Key valuation metrics from recent data: [2]
- P/E ratio: ~8.8x trailing earnings
- Forward P/E: ~8–9x based on 2025–2026 EPS forecasts
- PEG ratio: about 3.0, reflecting modest expected growth
- Beta: ~0.35 – significantly less volatile than the broader market
- 52‑week range: roughly $37.6–$47.4
- Balance sheet: debt‑to‑equity ~1.2, quick ratio ~0.60, current ratio ~0.74
Crucially for income investors, Verizon’s quarterly dividend is $0.69 per share, or $2.76 annually following a September increase – which works out to a dividend yield of about 6.7–6.8% at today’s price. [3]
That combination – a single‑digit earnings multiple and a near‑7% yield – is exactly why Verizon continues to show up on lists of high‑yield, large‑cap “never sell” dividend names and top S&P 500 income stocks. [4]
Third‑quarter 2025 earnings: slow growth, strong cash generation
Verizon reported third‑quarter 2025 results on October 29 and reaffirmed its full‑year guidance, framing the quarter as a base for a broader transformation under new CEO Dan Schulman. [5]
Key Q3 2025 highlights: [6]
- EPS:
- GAAP EPS: $1.17, up from $0.78 a year ago
- Adjusted EPS: $1.21, slightly above $1.19 in Q3 2024 and ahead of Wall Street’s $1.19 consensus
- Revenue:
- $33.8 billion, up 1.5% year‑over‑year
- Slightly below analyst expectations (~$34.2 billion), according to MarketBeat’s summary of the quarter [7]
- Profitability & cash flow:
- Adjusted EBITDA: $12.8 billion, up from $12.5 billion
- Operating cash flow (first nine months of 2025): $28.0 billion, up from $26.5 billion
- Free cash flow (first nine months): $15.8 billion, versus $14.5 billion a year earlier
- Wireless:
- Wireless service revenue: $21.0 billion, up 2.1%
- Wireless equipment revenue: $5.6 billion, up 5.2%
- Broadband & FWA:
- 306,000 broadband net adds in Q3
- 261,000 fixed wireless access (FWA) net adds, taking the FWA base to nearly 5.4 million subscribers
- 61,000 Fios internet net adds, the best in two years
- Consumer segment:
- Consumer revenue: $26.1 billion, up 2.9%
- Consumer wireless service revenue: $17.4 billion, up 2.4%
- Postpaid phone churn: 0.91%
- Consumer still posted a small net loss of 7,000 postpaid phone lines, underscoring fierce competition
- Business segment:
- Business revenue: $7.1 billion, down 2.8%
- Business wireless service revenue: $3.6 billion, up 0.7%
- 110,000 wireless postpaid net adds (including 51,000 phones)
On the balance sheet, total unsecured debt stood at $119.7 billion at quarter‑end, down from $126.4 billion a year earlier, with net unsecured debt of $112.0 billion and net unsecured debt / adjusted EBITDA around 2.2x – high but moving lower. [8]
2025 guidance: low‑single‑digit growth, hefty free cash flow
Verizon reiterated its full‑year 2025 outlook, which is important context for any forecast of the stock: [9]
- Total wireless service revenue: +2.0% to +2.8%
- Adjusted EBITDA: +2.5% to +3.5%
- Adjusted EPS: +1.0% to +3.0%
- Operating cash flow: $37–39 billion
- Free cash flow:$19.5–20.5 billion
- Capex: within or below $17.5–18.5 billion
A key detail for investors: this guidance explicitly excludes any impact from the pending acquisition of Frontier Communications, so it reflects Verizon’s standalone trajectory. [10]
At the midpoint of that FCF range, Verizon would generate roughly $20 billion of free cash flow against about $11–12 billion of annual dividend obligations, leaving several billion per year to reduce debt, fund the Frontier transaction, or return more capital. [11]
Dividend story: 19 consecutive raises and a near‑7% yield
On September 5, Verizon’s board approved a dividend increase to $0.69 per share per quarter, up 1.25 cents, marking the 19th consecutive year of dividend growth. The new dividend was paid on November 3 to shareholders of record as of October 10. [12]
The company notes it paid more than $11.2 billion in cash dividends in 2024, underscoring how central the payout is to its capital allocation strategy. [13]
Several recent analyses highlight Verizon as a core income name:
- A Barchart column on high‑yield picks features Verizon as Dividend Stock #1, citing a yield around 6.3–6.4%, a payout ratio in the mid‑50% range, and a 21‑year history of paying and raising dividends. The article also points to management’s forecast of $19.5–20.5 billion in 2025 free cash flow, more than enough to cover dividends. [14]
- A separate Barchart piece focused on passive income investors describes Verizon as “one of the more compelling income plays in the U.S. telecom sector” thanks to its high yield and maturing 5G build‑out. [15]
- 24/7 Wall St. repeatedly places Verizon among the highest‑yielding S&P 500 blue chips and large‑cap dividend giants you “never sell,” highlighting a yield in the mid‑6% range and relatively predictable cash flows. [16]
At today’s share price, the forward dividend yield is roughly 6.7–6.8% and the payout ratio sits just below 60% of expected 2025 earnings – high, but generally considered sustainable given Verizon’s cash generation and capex plans. [17]
Debt moves: redeeming near‑term notes while issuing new bonds
Verizon has been active on the liability management front in late 2025.
Near‑term redemptions
On November 3, the company announced it will redeem nearly $1.9 billion of debt securities on December 16, 2025, including: [18]
- All of its 1.450% notes due March 20, 2026 ($825.8M)
- All of its 3.000% notes due March 22, 2027 ($463.0M)
- A portion ($607.0M) of its 4.125% notes due March 16, 2027
Reuters summarized the move as retiring “nearly $2 billion” in debt, a modest but visible step in reducing near‑term maturities and interest costs. [19]
Funding the Frontier acquisition
At the same time, Verizon has returned to the investment‑grade bond market with a series of large offerings tied to its pending Frontier deal: [20]
- Bloomberg and Reuters report Verizon is raising around $10–11 billion in a multi‑tranche U.S. dollar bond sale to help finance the $20 billion acquisition of Frontier Communications.
- Additional euro and sterling bond issues – including €2.25 billion and £1.0 billion notes maturing in 2056 – have also been flagged in bond market coverage. [21]
Taken together, Verizon’s strategy appears to be: extend the duration of its debt, lock in long‑term funding for Frontier and fiber expansion, and retire some nearer‑term notes, while keeping leverage roughly in the low‑2x range (on a net debt / EBITDA basis) in the medium term. [22]
Frontier Communications deal: super‑charging fiber and cross‑sell potential
Verizon first announced plans to acquire Frontier Communications Parent, Inc. on September 5, 2024, in a cash deal valuing Frontier at about $20 billion, or $38.50 per share. [23]
The strategic logic:
- Frontier operates a substantial fiber broadband network across 25 U.S. states, giving Verizon a much larger fixed‑line footprint to match its wireless scale. [24]
- Verizon management has said the deal should expand fiber reach and provide a huge opportunity to bundle mobile and home internet, especially in regions where Verizon’s wireless share is under‑represented today. [25]
Regulatory and financing status as of December 1, 2025:
- FCC and federal approvals: Verizon has signaled it has cleared key federal hurdles, including from the FCC and DOJ, but is still working through state‑level reviews. [26]
- California Public Utilities Commission (CPUC): Reports indicate California regulators have raised concerns, including over corporate policy shifts around diversity, equity and inclusion (DEI). [27]
- DEI controversy: A Reuters piece notes Verizon has agreed to dismantle a range of formal DEI programs as part of its push to win federal approval, a move that has drawn political and public scrutiny. [28]
- Timing: Management commentary at conferences and in regulatory filings suggests confidence that the deal can close in early 2026, though Verizon’s 2025 guidance explicitly assumes no contribution from Frontier. [29]
If completed on the terms announced, the acquisition would materially expand Verizon’s fiber and fixed broadband footprint, giving it greater scale to support its 5G, FWA and converged mobile‑plus‑home offerings for years to come – but also adding integration, execution and regulatory risks. [30]
Leadership shake‑up and transformation plan
In October 2025, Verizon announced a major CEO transition:
- Dan Schulman, former PayPal CEO and Verizon’s lead independent director, was named Chief Executive Officer effective October 6, 2025.
- Long‑time CEO Hans Vestberg moved into a special adviser role, focusing on the Frontier integration and staying on the board through 2026. [31]
A month later, Schulman published a widely discussed letter titled “Building a stronger Verizon,” outlining a sweeping transformation plan: [32]
- Verizon will reorient the company around a “customer‑first” culture, aiming to simplify operations and remove internal friction.
- The company plans to reduce its workforce by more than 13,000 employees and cut outsourced labor to realign its cost structure.
- Verizon is establishing a $20 million Reskilling and Career Transition Fund to help departing employees retrain for roles in a more AI‑driven economy – a first‑of‑its‑kind fund, according to Schulman.
- Every part of the company will be affected as Verizon reorganizes for speed, efficiency and growth heading into 2026.
In parallel, Verizon appointed Alfonso Villanueva as Executive Vice President and Chief Transformation Officer, underscoring that this is not just a cost‑cutting exercise but a multi‑year overhaul of how the business operates. [33]
For investors, the implications are two‑sided:
- Positive: lower structural costs, higher margins, a clearer focus on high‑value customers and fiber/5G convergence could all support earnings growth and free cash flow. [34]
- Risks: large layoffs and cultural shifts are disruptive; execution missteps or customer service issues could blunt the benefits, and near‑term restructuring charges may pressure reported earnings.
Institutional positioning: mixed but still supportive
Fresh 13F‑driven headlines on December 1 show active but not one‑sided institutional activity in Verizon shares: [35]
- VestGen Advisors LLC cut its Verizon stake by 45.6% in Q2, selling about 32,800 shares and leaving ~39,200 shares worth $1.7 million.
- Other institutional investors – including Shelton Capital Management and several regional banks and advisors – have modestly increased their positions.
- Across the shareholder base, roughly 62% of Verizon’s stock is held by institutions and hedge funds.
MarketBeat’s summary notes that, despite some profit‑taking, institutional holders broadly continue to treat Verizon as a core, income‑oriented position rather than a short‑term trading vehicle. [36]
Wall Street sentiment and price targets
Analyst views on Verizon in late 2025 paint the picture of a low‑growth but attractively valued income stock rather than a consensus high‑flyer:
Ratings and targets
- MarketBeat aggregates 21+ analyst ratings and finds an overall “Hold” consensus with an average price target around $47–48 per share – roughly 15–18% upside from the low‑$40s. Recent notes range from BNP Paribas downgrading to Hold to TD Cowen and Goldman Sachs reiterating Buy ratings with targets in the low $50s and high $40s, respectively. [37]
- A Barchart dividend‑focused review cites 29 covering analysts, with 9 rating Verizon a Strong Buy, 3 a Moderate Buy, and 17 a Hold, and an average target of $48.23 (about 11% upside at the time of publication) and a high target of $58. [38]
- StockAnalysis.com shows a consensus “Buy” among a smaller set of analysts, with an average target near $48.5 and forecasts of revenue rising from about $134.8 billion in 2024 to $142.1 billion in 2025 and $144.6 billion in 2026, and EPS growing from $4.14 (2024) to $4.83 (2025) and $4.97 (2026). [39]
- Forecast aggregators at Stocksguide compile 27 EPS estimates, with an average 2025 EPS of $4.83 and a gradual climb to the mid‑$5 range by the early 2030s, along with a slowly declining forward P/E as earnings grow modestly. [40]
Zacks: a top value stock, but not a growth darling
A detailed Zacks Equity Research piece (republished on Nasdaq) classifies Verizon as: [41]
- Zacks Rank #3 (Hold)
- Value Score: A
- Overall VGM Score: B
- Forward P/E: about 9.4x at the time of writing
Zacks highlighted that earnings estimate revisions for 2025 had ticked higher and that Verizon consistently beats estimates by about 1–2%, but the firm still sees the shares as a value play more than a growth story.
Overall, Wall Street seems to agree on three points:
- Valuation is attractive versus both the broader market and telecom peers.
- Growth is modest – low‑single‑digit revenue and mid‑single‑digit EPS growth – even with fiber and FWA tailwinds. [42]
- The high dividend yield is a central part of the investment case, and its sustainability depends on Verizon hitting its free cash flow targets and managing leverage as it absorbs Frontier. [43]
How commentators see Verizon’s risk/reward right now
Recent commentary offers a useful snapshot of the bull and bear cases as of December 1, 2025:
The bullish view
- Income + defensiveness: With a yield near 7% and a long streak of dividend hikes, Verizon is frequently cited as a “bedrock” income holding that can help anchor portfolios if markets stay volatile. [44]
- 5G and broadband scale: Q3 data show strong FWA and broadband additions, suggesting Verizon is successfully monetizing its 5G and fiber investments. [45]
- Frontier synergy potential: Analysts at outlets like The Motley Fool argue that the Frontier acquisition could significantly expand Verizon’s fiber network, deepen bundling opportunities, and unlock cross‑sell potential where Verizon wireless is under‑penetrated. [46]
- Transformation plan: Schulman’s restructuring – with a dedicated transformation office, workforce reductions and a sharper customer focus – is seen by some as the “next phase” after the 5G build‑out, positioning Verizon for leaner, more profitable growth. [47]
The cautious / bearish view
- Mature, saturated wireless market: Multiple analyses point out that phone subscriber growth is hard to come by, as seen in Verizon’s Q3 loss of 7,000 postpaid phone lines on the consumer side despite aggressive promos. [48]
- Heavy capex and high leverage: Even after some debt reduction, Verizon still carries over $110 billion of net unsecured debt and must continue spending heavily on fiber and 5G. That leaves less room for error if growth slows or the Frontier integration stumbles. [49]
- Regulatory and reputational risk: The decision to dismantle DEI programs to appease regulators and speed Frontier approval has created headline and political risk, and could affect employee morale and brand perception. [50]
- Execution risk on restructuring: Large layoffs and organizational changes can produce short‑term disruption; if customer experience or network quality slips, the “customer‑first” strategy could backfire. [51]
What this means for investors
From an investment‑thesis perspective, Verizon in December 2025 looks like:
- A high‑yield, lower‑volatility telecom utility‑like stock rather than a high‑growth tech name
- Priced at about 8–9x forward earnings with a mid‑6% to high‑6% dividend yield
- Backed by strong, recurring cash flow and a long history of dividend reliability
- Entering a significant transition period – new CEO, workforce restructuring, and a transformational fiber acquisition
Whether that’s attractive depends on your objectives and risk tolerance:
- If you prioritize current income and relative stability, the combination of yield, valuation and scale is hard to ignore – especially when many “safer” assets still yield less. [52]
- If you’re seeking fast growth or minimal regulatory/exec‑execution risk, Verizon’s modest top‑line outlook, large debt load and the complexity of the Frontier integration may justify caution. [53]
Either way, the numbers and news flow make one thing clear: Verizon’s next few quarters – as Schulman’s transformation gathers pace and regulators decide Frontier’s fate – are likely to be pivotal for how the stock trades over the rest of the decade.
Important: This article is for informational purposes only and does not constitute financial or investment advice. Always do your own research and consider consulting a qualified financial professional before making investment decisions.
References
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