Verizon Communications Inc. Financial Ratios — BAC.DE Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	6.45	2.53	31.94	37.65	124.48	67.4	91.74	32.27	33.64	27.55	29.49	24.58	12.65	18.27	16.86
Return on Assets (%)	1.07	0.38	4.61	3.8	7.5	5.38	12.01	5.95	6.92	5.85	6.46	5.7	3.06	4.58	4.35
Return on Capital (%)	-1.88	- -	0.98	7.05	16.18	11.93	- -	11.51	12.57	9.86	10.06	8.89	5.61	8.28	- -
Return on Invested Capital (%)	8.88	- -	15.66	9.66	16.78	15	- -	13.28	14.56	10.57	10.35	8.82	7.57	8.3	- -
Gross Margin (%)	58.62	60.05	62.76	60.71	60.07	58.17	57.9	57.58	58.5	60.09	57.86	56.79	59.03	59.87	58.92
EBITDA Margin (%)	26.49	25.57	40.29	28.43	37.29	36.66	36.62	33.83	35.83	35.48	36.41	34.76	34.59	34.56	34.45
Operating Margin (%)	11.62	11.36	26.52	15.42	25.12	24.02	23.17	20.53	23.18	22.45	24.29	22.27	21.44	21.28	21.17
Incremental Operating Margin (%)	-40.95	5.63	399.83	-189.45	296.43	49.72	-1,957.41	-48.25	367.66	49.38	68.6	-61.48	61.13	-3.93	16.84
Pretax Margin (%)	9.45	8.54	24.29	12.02	21.46	16.66	16.34	15	17.24	18.68	22.02	20.66	12.68	17.05	- -
Profit Margin (%)	2.17	0.76	9.54	7.57	13.58	10.42	23.88	11.87	14.61	13.88	16.51	15.53	8.67	12.99	12.43
Net Income to Common Margin (%)	2.17	0.76	9.54	7.57	13.58	10.42	23.88	11.87	14.61	13.88	16.51	15.53	8.67	12.99	12.43
Effective Tax Rate (%)	2.72	- -	19.57	21.7	34.93	35.16	- -	18.26	12.95	23.44	23.12	23.07	28.8	21.89	- -
Dvd Payout Ratio (%)	30.87	25.84	16.68	54.62	45.24	65.74	30.56	59.05	49.31	54.15	45.08	48.58	87.67	61.16	63.63
Sustainable Growth Rate (%)	4.46	1.88	26.61	17.09	68.16	23.09	63.71	13.22	17.05	12.63	16.2	12.64	1.56	7.09	6.13

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	55,152	51,987	93,591	113,271	109,729	108,078	117,095	113,063	133,143	150,547	177,930	176,331	174,942	168,357	181,643
ST Debt	4,849	4,369	3,933	2,735	6,489	2,645	3,453	7,190	14,038	9,374	11,302	14,097	17,239	27,048	23,160
LT Debt	50,303	47,618	89,658	110,536	103,240	105,433	113,642	105,873	119,105	141,173	166,628	162,234	157,703	141,309	158,483
Total Debt/EBITDA	1.88	1.76	1.93	3.13	2.24	2.34	2.54	2.55	2.82	3.31	3.66	3.71	3.78	3.61	3.82
Net Debt/EBITDA	1.42	1.65	0.82	2.84	2.14	2.28	2.49	2.49	2.3	2.35	3.04	3.11	3.21	3	2.92
Total Debt/EBIT	4.28	3.95	2.93	5.78	3.32	3.57	4.01	4.21	4.36	5.23	5.48	5.79	6.09	5.87	6.21
Net Debt/EBIT	3.24	3.72	1.25	5.24	3.18	3.48	3.94	4.11	3.56	3.71	4.56	4.86	5.17	4.87	4.75
EBITDA to Interest Expense	10.39	11.52	18.21	7.35	9.98	10.55	9.75	9.16	9.99	10.72	13.96	13.17	8.39	7.01	7.11
EBITDA-CapEx/Interest Expense	10.31	9.85	18	7.28	7.95	10.43	9.63	8.86	9.8	9.8	0.3	12.15	7.34	6.87	7.04
EBIT to Interest Expense	4.56	5.12	11.99	3.99	6.72	6.91	6.17	5.56	6.46	6.78	9.31	8.43	5.2	4.31	4.37
Interest Expense	2,827	2,571	2,667	4,915	4,920	4,376	4,733	4,833	4,730	4,247	3,485	3,613	5,524	6,649	6,694
Common Equity/Total Assets	15.61	14.72	14.17	5.29	6.73	9.22	16.76	20.07	21.05	21.44	22.31	24.01	24.31	25.8	25.84
Long-Term Debt/Equity (%)	58.55	55.67	93.97	808.25	578.63	438.72	254.31	193.52	189.55	203.8	200.27	175.46	168.13	140.5	149.88
Long-Term Debt/Capital (%)	35.66	34.63	47.44	87.07	80.93	79.81	70.24	63.1	60.77	64.22	63.81	60.36	58.68	52.54	55.15
Long-Term Debt/Total Assets (%)	21.83	21.14	32.71	47.52	42.28	43.18	44.19	39.98	40.83	44.61	45.45	42.73	41.47	36.73	39.2
Total Debt/Equity (%)	64.2	60.78	98.09	828.25	615	449.73	262.03	206.66	211.89	217.33	213.86	190.7	186.51	167.39	171.78
Total Debt/Capital (%)	39.1	37.8	49.52	89.23	86.01	81.81	72.38	67.39	67.94	68.49	68.14	65.6	65.1	62.6	63.21
Total Debt/Total Assets (%)	23.93	23.08	34.15	48.69	44.94	44.26	45.54	42.69	45.64	47.57	48.54	46.44	46.01	43.76	44.93
Net Debt to Equity	48.65	57.16	41.99	750.75	589.95	437.74	257.38	201.64	173.3	154.31	177.82	160.1	158.43	139.02	131.55
Net Debt/Capital (%)	32.73	36.37	29.57	88.25	85.51	81.4	72.02	66.85	56.31	54.08	57.3	55.61	55.73	52.81	51.84
EBITDA	29,376	29,620	48,574	36,132	49,077	46,184	46,153	44,272	47,246	45,518	48,654	47,566	46,342	46,578	47,608
EBITDA-CapEx	29,155	25,322	47,994	35,778	39,135	45,650	45,570	42,843	46,348	41,622	1,058	43,913	40,546	45,678	47,158
Operating Income (Loss)	12,880	13,160	31,968	19,599	33,060	30,256	29,199	26,869	30,564	28,798	32,448	30,467	28,718	28,686	29,259

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.45	0.13	2	0.4	0.14	0.09	0.06	0.07	0.06	0.56	0.06	0.05	0.04	0.06	0.31
Current Ratio	1.01	0.79	2.62	1.05	0.64	0.87	0.91	0.91	0.84	1.38	0.78	0.75	0.69	0.63	0.91
Quick Ratio	0.84	0.6	2.46	0.9	0.52	0.67	0.77	0.73	0.62	1.16	0.57	0.54	0.51	0.47	0.74
CFO/Avg Current Liab	0.97	1.09	1.44	1.11	1.24	0.66	0.77	0.97	0.86	0.99	0.91	0.76	0.72	0.63	0.58
Common Equity/Total Assets	15.61	14.72	14.17	5.29	6.73	9.22	16.76	20.07	21.05	21.44	22.31	24.01	24.31	25.8	25.84
Long-Term Debt/Equity (%)	58.55	55.67	93.97	808.25	578.63	438.72	254.31	193.52	189.55	203.8	200.27	175.46	168.13	140.5	149.88
Long-Term Debt/Capital (%)	35.66	34.63	47.44	87.07	80.93	79.81	70.24	63.1	60.77	64.22	63.81	60.36	58.68	52.54	55.15
Long-Term Debt/Total Assets (%)	21.83	21.14	32.71	47.52	42.28	43.18	44.19	39.98	40.83	44.61	45.45	42.73	41.47	36.73	39.2
Total Debt/Equity (%)	64.2	60.78	98.09	828.25	615	449.73	262.03	206.66	211.89	217.33	213.86	190.7	186.51	167.39	171.78
Total Debt/Capital (%)	39.1	37.8	49.52	89.23	86.01	81.81	72.38	67.39	67.94	68.49	68.14	65.6	65.1	62.6	63.21
Total Debt/Total Assets (%)	23.93	23.08	34.15	48.69	44.94	44.26	45.54	42.69	45.64	47.57	48.54	46.44	46.01	43.76	44.93
CFO/Total Liabilities	20.6	22.54	21.72	13.99	17.24	9.85	11.45	16.34	15.62	16.9	13.95	12.93	13.08	12.99	12.44
CFO/CapEx	134.75	7.33	66.93	86.53	3.93	40.62	41.71	24.03	39.81	10.72	0.83	10.17	6.47	41.01	82.53
Altman's Z-Score	1.61	1.67	2.02	2.1	2.44	2.59	2.69	2.68	2.5	2.37	2.31	2.13	2.04	2.03	2.03

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	9.41	9.51	9.64	9.62	9.59	8.14	6.15	5.39	5.22	5.2	5.59	5.66	5.4	5.27	5.19
Days Sales Outstanding	38.77	38.36	37.87	37.96	38.06	44.86	59.38	67.77	69.93	70.2	65.24	64.49	67.55	69.32	70.27
Inventory Turnover	44.3	45.93	42.85	45.96	43.71	42.95	47.46	46.84	39.69	31.82	23.21	21.73	24.7	25.14	24.22
Days Inventory Outstanding	8.24	7.95	8.52	7.94	8.35	8.5	7.69	7.79	9.2	11.47	15.72	16.8	14.78	14.52	15.07
Accounts Payable Turnover	11.24	10.73	9.53	9.49	9.32	8.24	7.48	7.81	7.33	7.17	7.83	6.96	5.81	5.31	5.05
Accounts Payable Turnover Days	32.48	34.01	38.3	38.47	39.16	44.31	48.81	46.74	49.8	50.93	46.63	52.41	62.79	68.73	72.34
Cash Conversion Cycle	14.54	12.3	8.09	7.44	7.25	9.05	18.26	28.82	29.33	30.74	34.33	28.88	19.54	15.1	12.99
Inventory to Cash Days	30.54	30.42	29.35	30.02	29.71	36.37	51.69	59.98	60.74	58.73	49.51	47.69	52.77	54.8	55.19
Inventories	940	1,075	1,020	1,153	1,252	1,202	1,034	1,336	1,422	1,796	3,055	2,388	2,057	2,247	2,441
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	940	1,075	1,020	1,153	1,252	1,202	1,034	1,336	1,422	1,796	3,055	2,388	2,057	2,247	2,441

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	94,975	97,709	102,125	195,354	191,013	217,125	218,470	228,557	254,872	244,272	220,121	165,005	157,590	167,124	170,974
- Cash & Cash Equivalents	13,362	3,093	53,528	10,598	4,470	2,880	2,079	2,745	2,594	22,171	2,921	2,605	2,065	4,194	19,048
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	49,938	52,376	56,580	1,378	1,414	1,508	1,591	1,565	1,440	1,430	1,410	1,319	1,369	1,338	1,281
+ Total Debt	55,152	51,987	93,591	113,271	109,729	108,078	117,095	113,063	133,143	150,547	177,930	176,331	174,942	168,357	181,643
Enterprise Value	186,111	198,509	198,167	298,850	297,336	323,831	335,077	340,440	386,861	374,078	396,540	340,050	331,836	332,625	334,850
Total Capital	141,060	137,520	189,007	126,947	127,571	132,110	161,782	167,773	195,978	219,819	261,130	268,794	268,741	268,932	287,384
Total Debt/Capital (%)	39.1	37.8	49.52	89.23	86.01	81.81	72.38	67.39	67.94	68.49	68.14	65.6	65.1	62.6	63.21
Total Debt / EV	0.3	0.26	0.47	0.38	0.37	0.33	0.35	0.33	0.34	0.4	0.45	0.52	0.53	0.51	0.54
EV/Sales	1.68	1.71	1.64	2.35	2.26	2.57	2.66	2.6	2.93	2.92	2.97	2.49	2.48	2.47	2.42
EV/EBITDA	6.34	6.7	4.08	8.27	6.06	7.01	7.26	7.69	8.19	8.22	8.15	7.15	7.16	7.14	7.03
EV/EBIT	14.45	15.08	6.2	15.25	8.99	10.7	11.48	12.67	12.66	12.99	12.22	11.16	11.55	11.6	11.44
EV/Cash Flow to Firm	5.72	5.8	4.84	8.67	7.04	13.2	10.69	8.89	9.7	8.31	9.39	8.52	8.01	7.9	7.92
EV/Free Cash Flow to Firm	5.68	5.15	4.77	8.58	5.7	12.92	10.5	8.57	9.49	7.65	4.42	7.8	7.03	7.73	7.83
Diluted Market Cap	95,142	97,826	102,553	187,174	191,942	217,621	218,980	228,555	255,129	244,500	217,615	165,168	157,992	167,653	171,535
Diluted Enterprise Value	186,870	199,096	199,196	291,225	298,615	324,327	335,587	340,438	387,118	374,306	394,034	340,213	332,238	333,154	335,411
EV per Share	65.67	69.44	69.24	71.93	73	79.43	82.14	82.39	93.54	90.4	94.46	80.97	78.93	79.01	79.4
TTM Sales	110,875	115,846	120,550	127,079	131,620	125,980	126,034	130,863	131,868	128,292	133,613	136,835	133,974	134,788	138,191
TTM EBITDA	29,376	29,620	48,574	36,132	49,077	46,184	46,153	44,272	47,246	45,518	48,654	47,566	46,342	46,578	47,608
TTM Operating Income	12,880	13,160	31,968	19,599	33,060	30,256	29,199	26,869	30,564	28,798	32,448	30,467	28,718	28,686	29,259
TTM Cash Flow to Firm	32,530	34,228	40,963	34,479	42,228	24,527	31,339	38,289	39,863	45,019	42,218	39,920	41,408	42,106	- -
TTM Free Cash Flow to Firm	32,751	38,526	41,543	34,833	52,170	25,061	31,922	39,718	40,761	48,915	89,814	43,573	47,204	43,006	- -

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	3.17	2.73	2.6	6.04	3.92	9.79	8.79	6.39	6.96	5.35	2.5	4.05	3.65	4.43	4.56
EV/EBIT	14.45	15.08	6.2	15.25	8.99	10.7	11.48	12.67	12.66	12.99	12.22	11.16	11.55	11.6	11.44
Enterprise Value	186,111	198,509	198,167	298,850	297,336	323,831	335,077	340,440	386,861	374,078	396,540	340,050	331,836	332,625	334,850
Low Price	33.46	31.19	33.05	34.88	42.02	43.6	42.79	46.08	52.4	49.26	49.6	34.77	30.36	37.4	37.6
EV/Sales	1.68	1.71	1.64	2.35	2.26	2.57	2.66	2.6	2.93	2.92	2.97	2.49	2.48	2.47	2.42
EV/EBITDA	6.34	6.7	4.08	8.27	6.06	7.01	7.26	7.69	8.19	8.22	8.15	7.15	7.16	7.14	7.03
Price/Earnings	39.49	111.45	8.9	19.41	10.71	16.55	7.27	14.7	13.24	13.73	9.86	7.77	13.59	9.57	9.98
Price/Earnings Average	42.72	108.34	8.56	18.78	10.77	15.95	6.55	13.85	12.46	13.43	10.4	9.18	13.2	9.92	10.38
Price/Earnings High	45.58	113.46	8.9	22.14	11.69	17.71	7.54	16.32	13.42	14.43	11.3	11.01	15.47	10.93	11.63
Price/Earnings Low	39.44	101.69	8.24	14.4	9.6	13.55	5.81	12.25	11.26	11.46	9.32	6.87	11.01	9.01	9.25
Price/Book Value	2.64	2.95	2.63	15.88	11.63	9.64	5.07	4.3	4.15	3.6	2.69	1.81	1.7	1.68	1.64
Price/Book Value Average	2.86	2.86	2.53	15.37	11.69	9.29	4.57	4.05	3.91	3.52	2.84	2.14	1.66	1.75	1.7
Price/Book Value High	3.05	3	2.63	18.12	12.68	10.31	5.26	4.77	4.21	3.79	3.08	2.57	1.94	1.92	1.91
Price/Book Value Low	2.64	2.69	2.44	11.79	10.42	7.89	4.05	3.58	3.53	3	2.55	1.6	1.38	1.59	1.52
Price/Tangible Book Value	-1.43	-1.31	-1.52	-2.07	-1.85	-2.17	-2.58	-3.03	-3.77	-3.75	-2.07	-1.67	-1.62	-1.83	-1.99
Price/Tangible Book Value Average	-1.54	-1.27	-1.46	-2	-1.86	-2.09	-2.32	-2.86	-3.55	-3.66	-2.19	-1.97	-1.58	-1.9	-2.07
Price/Tangible Book Value High	-1.65	-1.33	-1.52	-2.36	-2.02	-2.32	-2.67	-3.37	-3.83	-3.94	-2.38	-2.37	-1.85	-2.09	-2.32
Price/Tangible Book Value Low	-1.43	-1.19	-1.4	-1.54	-1.66	-1.77	-2.06	-2.53	-3.21	-3.13	-1.96	-1.48	-1.31	-1.72	-1.85
Price/Sales	0.86	0.84	0.85	1.47	1.46	1.72	1.74	1.74	1.93	1.9	1.63	1.21	1.18	1.24	1.24
Price/Sales Average	0.93	0.82	0.82	1.42	1.46	1.66	1.56	1.64	1.82	1.86	1.72	1.43	1.14	1.29	1.29
Price/Sales High	0.99	0.86	0.85	1.68	1.59	1.85	1.8	1.94	1.96	2	1.87	1.71	1.34	1.42	1.45
Price/Sales Low	0.86	0.77	0.79	1.09	1.3	1.41	1.39	1.45	1.64	1.59	1.54	1.07	0.95	1.17	1.15
Price/Cash Flow	3.19	3.1	2.63	6.1	4.91	10.02	8.99	6.65	7.13	5.85	5.5	4.44	4.21	4.54	4.61
Price/Cash Flow Average	3.45	3.01	2.54	5.9	4.93	9.65	8.1	6.27	6.71	5.72	5.81	5.25	4.09	4.7	4.8
Price/Cash Flow High	3.68	3.15	2.64	6.96	5.35	10.72	9.33	7.38	7.23	6.15	6.3	6.3	4.79	5.19	5.38
Price/Cash Flow Low	3.18	2.83	2.44	4.53	4.4	8.2	7.19	5.54	6.07	4.88	5.2	3.93	3.41	4.27	4.28
Price/Free Cash Flow Average	3.43	2.66	2.51	5.85	3.94	9.44	7.92	6.02	6.55	5.24	2.64	4.78	3.55	4.6	4.75
Price/Free Cash Flow High	3.66	2.78	2.6	6.89	4.28	10.48	9.12	7.09	7.06	5.63	2.86	5.74	4.16	5.07	5.32
Price/Free Cash Flow Low	3.17	2.49	2.41	4.48	3.51	8.02	7.03	5.32	5.92	4.47	2.36	3.58	2.96	4.18	4.23
EV/Sales Average	1.75	1.69	1.62	2.31	2.27	2.51	2.49	2.5	2.82	2.87	3.06	2.7	2.44	2.51	2.47
EV/Sales High	1.82	1.73	1.65	2.57	2.39	2.69	2.72	2.79	2.96	3.01	3.21	2.99	2.64	2.65	2.63
EV/Sales Low	1.68	1.64	1.59	1.96	2.11	2.26	2.31	2.31	2.64	2.6	2.88	2.35	2.25	2.4	2.33
EV/EBITDA Average	6.62	6.63	4.01	8.11	6.09	6.84	6.79	7.39	7.87	8.1	8.4	7.78	7.06	7.27	7.18
EV/EBITDA High	6.85	6.78	4.09	9.05	6.42	7.34	7.44	8.26	8.26	8.49	8.81	8.6	7.63	7.65	7.63
EV/EBITDA Low	6.35	6.43	3.94	6.89	5.66	6.16	6.31	6.83	7.38	7.33	7.91	6.75	6.51	6.93	6.77
EV/EBIT Average	15.1	14.91	6.1	14.95	9.03	10.44	10.73	12.18	12.17	12.8	12.6	12.14	11.4	11.81	11.68
EV/EBIT High	15.63	15.25	6.22	16.68	9.53	11.2	11.75	13.6	12.78	13.42	13.21	13.42	12.31	12.43	12.42
EV/EBIT Low	14.48	14.47	5.98	12.7	8.4	9.4	9.97	11.25	11.41	11.59	11.85	10.54	10.51	11.26	11.02
Last Price	33.51	34.18	35.68	47.02	46.9	53.26	53.55	55.31	61.63	59.03	52.44	39.29	37.48	39.7	40.54
High Price	38.68	34.8	35.69	53.63	51.15	56.98	55.55	61.38	62.5	62.06	60.08	55.71	42.66	45.38	47.28
Enterprise Value Average	194,456	196,256	194,932	293,081	298,655	315,919	313,449	327,233	371,837	368,731	408,730	369,993	327,294	338,805	341,832
Enterprise Value High	201,346	200,745	198,793	326,898	315,030	338,980	343,216	365,523	390,466	386,608	428,643	409,008	353,613	356,523	363,264
Enterprise Value Low	186,566	190,422	191,218	248,984	277,836	284,442	291,168	302,274	348,717	333,658	384,630	321,090	301,871	322,946	322,444

Shares Outstanding	2,834	2,859	2,862	4,155	4,073	4,077	4,079	4,132	4,136	4,138	4,198	4,200	4,204	4,210	4,217
Diluted Weighted Avg Shares	2,839	2,862	2,874	3,981	4,093	4,086	4,089	4,132	4,140	4,142	4,150	4,204	4,215	4,223	4,231
Basic Weighted Avg Shares	2,833	2,853	2,866	3,974	4,085	4,080	4,084	4,128	4,138	4,140	4,148	4,202	4,211	4,218	4,226
Revenue per Share	39.14	40.6	42.06	31.98	32.22	30.88	30.86	31.7	31.87	30.99	32.21	32.56	31.82	31.96	32.7
EBITDA per Share	10.37	10.38	16.95	9.09	12.01	11.32	11.3	10.72	11.42	10.99	11.73	11.32	11	11.04	11.27
Operating Income per Share	4.55	4.61	11.15	4.93	8.09	7.42	7.15	6.51	7.39	6.96	7.82	7.25	6.82	6.8	6.92
Basic EPS, GAAP	0.85	0.31	4.01	2.42	4.38	3.22	7.37	3.76	4.66	4.3	5.32	5.06	2.76	4.15	4.06
Basic EPS from Cont Ops	3.6	3.7	8.22	3.01	4.5	3.34	7.48	3.89	4.78	4.43	5.45	5.18	2.87	4.26	4.17
Diluted EPS, GAAP	0.85	0.31	4	2.42	4.37	3.21	7.36	3.76	4.65	4.3	5.32	5.06	2.76	4.15	4.06
Diluted EPS from Cont Ops	3.59	3.69	8.19	3	4.49	3.33	7.47	3.88	4.78	4.43	5.45	5.17	2.87	4.25	4.16
Dividend per Share	1.96	1.83	2.07	1.96	2.09	2.27	2.32	2.37	2.42	2.47	2.52	2.57	2.62	2.67	2.72
Cash Flow per Share	10.51	11.04	13.54	7.71	9.55	5.32	5.95	8.32	8.64	10.09	9.53	8.84	8.9	8.75	8.79
Free Cash Flow per Basic Share	10.43	9.53	13.34	7.62	7.12	5.19	5.81	7.97	8.42	9.15	-1.94	7.97	7.52	8.54	8.68
Cash & Equivalents per Share	4.92	1.25	18.91	2.68	1.18	0.71	0.51	0.66	0.63	5.36	0.7	0.62	0.49	1	4.52
Book Value per Share	12.69	11.6	13.57	2.96	4.03	5.53	10.56	12.86	14.84	16.39	19.48	21.7	21.98	23.57	24.77
Tangible Book Value per Share	-23.47	-26.12	-23.53	-22.7	-25.3	-24.59	-20.77	-18.24	-16.33	-15.76	-25.28	-23.52	-23.1	-21.7	-20.36

Verizon Communications Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)