Filing Flows

Filing Flows › Companies › Verizon Communications › Cash flow

Verizon Communications cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$11.5B in Q3 2026 · $39.0B over twelve months

Operating cash flow$11.5B
Free cash flow+$11.5B
Cash / net income2.2×

Analysis

In Q3 2026, Verizon Communications generated $11.5B of operating cash flow. That is $251M more than in Q3 2025 ($11.3B).

Over the twelve months to Sep 30, 2026, operating cash flow was $39.0B; the largest uses were other investing ($21.0B), other financing ($17.3B), dividends ($11.7B); besides operations, cash came from net borrowing (+) / repaid (−) ($17.3B); the cash balance fell by $3.1B.

Operating cash flow was $11.5B against net income of $5.3B — 2.2× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$5.1B, deferred taxes +$680M.

Free cash flow

Verizon Communications: free cash flow by quarterVerizon Communications: free cash flow by quarter$10.4BQ4 2024$7.8BQ1 2025$9.0BQ2 2025$11.3BQ3 2025$9.1BQ4 2025$8.0BQ1 2026$10.4BQ2 2026$11.5BQ3 2026
Operating cash flow less capital spending.
Verizon Communications: operating cash flow against capital spendingVerizon Communications: operating cash flow against capital spendingOperating cash flowCapital spending$10.4B$0Q4 2024$7.8B$0Q1 2025$9.0B$0Q2 2025$11.3B$0Q3 2025$9.1B$0Q4 2025$8.0B$0Q1 2026$10.4B$0Q2 2026$11.5B$0Q3 2026
Latest (Q3 2026): Operating cash flow $11.5B, Capital spending $0.

Capital allocation, year by year

Verizon Communications: where the cash came from (up) and went (down), by fiscal yearVerizon Communications: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesAcquisitionsDividendsFY2021: Operating cash flow $39.5BFY2021: Net borrowing $22.5BFY2021: Asset sales $4.1BFY2021: Acquisitions −$4.1BFY2021: Dividends −$10.4B$66.2BFY2021FY2022: Operating cash flow $37.1BFY2022: Net borrowing $15.5BFY2022: Asset sales $33.0MFY2022: Acquisitions $248MFY2022: Dividends −$10.8B$52.9BFY2022FY2023: Operating cash flow $37.5BFY2023: Net borrowing −$2.0BFY2023: Acquisitions −$30.0MFY2023: Dividends −$11.0B$37.5BFY2023FY2024: Operating cash flow $36.9BFY2024: Net borrowing −$4.8BFY2024: Dividends −$11.2B$36.9BFY2024FY2025: Operating cash flow $37.1BFY2025: Net borrowing $7.8BFY2025: Dividends −$11.5B$44.9BFY2025
Over these 5 years operating cash flow totalled $188.2B; the largest uses were dividends ($55.0B) and net borrowing ($6.8B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$4.5B
Debt$158.2B
Net debt$153.7B
Due within a year$17.3B

Verizon Communications funds itself: free cash flow was $39.0B over the last twelve months, and $4.5B of cash and investments stands against $158.2B of debt ($17.3B due within a year, 0.3× covered by cash).

Verizon Communications: debt maturities by year (FY2025)Verizon Communications: debt maturities by year (FY2025)$17.3BYear 1$9.6BYear 2$13.0BYear 3$8.1BYear 4$11.1BYear 5$96.8BAfter year 5
Principal due in each year as disclosed in the annual report, against $4.5B of cash and investments now.

Where the cash came from and went

Verizon Communications: sources (+) and uses (−) of cash, Q3 2026Verizon Communications: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$11.5BOther investing−$7.0BDividends−$2.9BCash drawn (+) / kept (−)−$2.8BNet borrowing (+) / repaid (−)$1.4BBuybacks−$500MOther financing$256M
Verizon Communications: sources (+) and uses (−) of cash, TTM to Q3 2026Verizon Communications: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$39.0BOther investing−$21.0BNet borrowing (+) / repaid (−)$17.3BOther financing−$17.3BDividends−$11.7BAcquisitions−$9.5BCash drawn (+) / kept (−)$3.1B

From profit to cash

Verizon Communications: net income to operating cash flow, Q3 2026Verizon Communications: net income to operating cash flow, Q3 2026Net income$5.3BDepreciation & amortization$5.1BDeferred taxes$680MOperating cash flow$11.5B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$11.5B—−$500M−$2.9B$1.4B−$2.8B$11.5B
Q2 2026$10.4B—−$1.0B−$3.0B$1.7B$6.3B$10.4B
Q1 2026$8.0B−$9.5B−$2.5B−$2.9B$3.7B$10.9B$8.0B
Q4 2025$9.1B——−$2.9B$10.6B−$11.3B$9.1B
Q3 2025$11.3B——−$2.9B$878M−$4.2B$11.3B
Q2 2025$9.0B——−$2.9B−$482M−$1.2B$9.0B
Q1 2025$7.8B——−$2.9B$803M$1.9B$7.8B
Q4 2024$10.4B——−$2.9B−$1.5B$752M$10.4B

Verizon Communications: income statement and cash flow

Verizon Communications, Q3 2026: revenue $34.3B (+2% year over year), operating margin 25.2%. The chart follows the revenue to costs, profit and cash.

Verizon Communications: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.