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威瑞森电信Verizon Communications(VZ)2025年第四季度及全年财务与运营概览报告「NYSE」(英文版)(19页).pdf

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1、Financial and OperatingInformationAs of December 31,2025 Table of ContentsCondensed Consolidated Statements of Income 3 Condensed Consolidated Balance Sheets 4 Consolidated-Selected Financial and Operating Statistics 5 Condensed Consolidated Statements of Cash Flows 6 Consumer Selected Financial Res

2、ults 7 Consumer Selected Operating Statistics 8 Business Selected Financial Results 9 Business Selected Operating Statistics 10 Supplemental Information 11 Non-GAAP Reconciliations and Notes 12 Verizon Communications Inc.Condensed Consolidated Statements of Income (dollars in millions,except per sha

3、re amounts)202320242025UnauditedFull Year1Q2Q3Q4QFull Year1Q2Q3Q4QFull YearOperating RevenuesService revenues and other$109,652$27,620$27,798$27,987$28,166$111,571$28,087$28,249$28,202$28,183$112,721 Wireless equipment revenues 24,322 5,361 4,998 5,343 7,515 23,217 5,398 6,255 5,619 8,198 25,470 Tot

4、al Operating Revenues 133,974 32,981 32,796 33,330 35,681 134,788 33,485 34,504 33,821 36,381 138,191 Operating ExpensesCost of services 28,100 6,967 6,904 7,193 6,933 27,997 6,950 6,878 6,863 7,098 27,789 Cost of wireless equipment 26,787 5,905 5,567 6,047 8,581 26,100 6,106 7,007 6,483 9,380 28,97

5、6 Selling,general and administrative expense 32,745 8,143 8,024 9,706 8,240 34,113 7,874 7,812 7,752 10,380 33,818 Depreciation and amortization expense 17,624 4,445 4,483 4,458 4,506 17,892 4,577 4,635 4,618 4,519 18,349 Verizon Business Group goodwill impairment 5,841 Total Operating Expenses 111,

6、097 25,460 24,978 27,404 28,260 106,102 25,507 26,332 25,716 31,377 108,932 Operating Income 22,877 7,521 7,818 5,926 7,421 28,686 7,978 8,172 8,105 5,004 29,259 Equity in earnings(losses)of unconsolidated businesses(53)(9)(14)(24)(6)(53)6 (3)(6)3 Other income(expense),net(313)198 (72)72 797 995 121

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1. **财务表现**:2025年Verizon净利润176.08亿美元,同比增长-1.9%;调整后EPS为4.71美元,同比增长2.6%。 2. **营收结构**:总运营收入138.19亿美元,其中服务收入112.72亿美元,无线设备收入25.47亿美元。 3. **运营效率**:自由现金流201.26亿美元,同比增长1.5%;净无担保债务110.05亿美元,与调整后EBITDA比率为2.2x。 4. **业务亮点**:消费者业务EBITDA 438.01亿美元(占比41.0%),企业业务EBITDA 66.44亿美元(占比22.9%);无线零售后付费用户净增82.9万。 5. **资本支出**:全年资本支出170.11亿美元,聚焦5G和FWA宽带(用户达340.7万)。
**Verizon营收增长?** **无线业务表现如何?** **债务比率变化?**
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