Forecast

Financial forecast

Project revenue, EBITDA, net income and free cash flow for the next 5 or 10 years. Growth starts at the same rate the valuation uses and fades to the long-run rate, with margins held at today's level. Bear and bull cases move growth by the company's own revenue volatility. It is a model of what the assumptions imply, not a prediction.

Verizon (VZ)

Price updated 06 Nov 2026 14:42; TTM through 30 Sep 2026; TTM financials updated 06 Nov 2026 14:11.

Starts from TTM through 30 Sep 2026 financials in USD and a share price of USD 45.25. Growth begins at 2.9% a year (the valuation's blended assumption) and fades to 2.9% by year 10. Margins held at EBITDA 35.1%, net 11.8%, free cash flow 15.1% of revenue. Bear and bull move starting growth by 2.4 points and long-run growth by 1 point.

Year 1 uses analyst consensus revenue growth (1.9%); year 2 is halfway back to the model's own path.
USD 38.63Model fair value (Dividend discount model); range USD 30.20 to USD 53.19
-15%Fair value vs today's price
LowModel confidence
25%Share of the gap to fair value the price closes by year 5

Confidence: Free-cash-flow DCF is somewhat apart; trailing-twelve-month data; profit and cash flow steady for 3 years; value is more than 1.5x the Free-cash-flow DCF value.

7.1%/yrModel-implied annual total return over 10 years, base case (price plus dividends). Raw model level; the screener shows a calibrated ranking instead
USD 183.09BRevenue in year 10 (base)
USD 21.57BNet income in year 10 (base)
USD 27.73BFree cash flow in year 10 (base)
USD 3.70Dividend per share in year 10 (base)
USD 57.26Implied share price in year 10 (base), today USD 45.25
14.7%Year-10 free cash flow per share vs today's price

Dividend per share over time

USD 0.00 USD 1.09 USD 2.18 USD 3.27 USD 4.36 FY2021 FY2023 FY2025 TTM through 30 Sep 2026 +1 +3 +5 +7 +9 +10
Solid: reported Dashed: base projection Shaded: bear to bull range
Dividend per share in year 10 by scenario
CaseStarting growthYear 10Annual growth
Bear -0.4% USD 3.13 1.1%
Base 1.9% USD 3.70 2.8%
Bull 4.3% USD 4.36 4.5%

Base case by year

YearGrowthRevenueEBITDANet incomeFree cash flowEPSFCF / shareDividend / shareBook / shareImplied price
TTM through 30 Sep 2026– USD 139.39BUSD 48.89BUSD 16.42BUSD 21.11B 3.955.072.8225.4745.25
Year 11.9% USD 142.08BUSD 49.83BUSD 16.74BUSD 21.52B 4.025.172.8726.6245.79
Year 22.4% USD 145.53BUSD 51.04BUSD 17.14BUSD 22.04B 4.125.302.9427.8046.55
Year 32.9% USD 149.78BUSD 52.53BUSD 17.64BUSD 22.69B 4.245.453.0329.0247.56
Year 42.9% USD 154.16BUSD 54.07BUSD 18.16BUSD 23.35B 4.365.613.1130.2748.58
Year 52.9% USD 158.65BUSD 55.65BUSD 18.69BUSD 24.03B 4.495.773.2031.5649.62
Year 62.9% USD 163.27BUSD 57.27BUSD 19.23BUSD 24.73B 4.625.943.3032.8851.07
Year 72.9% USD 168.02BUSD 58.93BUSD 19.79BUSD 25.45B 4.766.123.3934.2452.55
Year 82.9% USD 172.91BUSD 60.65BUSD 20.37BUSD 26.19B 4.906.293.4935.6454.08
Year 92.9% USD 177.93BUSD 62.41BUSD 20.96BUSD 26.95B 5.046.483.5937.0955.65
Year 102.9% USD 183.09BUSD 64.22BUSD 21.57BUSD 27.73B 5.186.663.7038.5757.26

EPS and free cash flow per share assume today's share count. Dividends assume today's payout ratio and book value grows with retained earnings. The implied share price follows the valuation models and is not a price target; override growth settings do not change the model fair value. Margins stay at today's level except where the notes say they drift toward their average, so it does not model margin expansion, buybacks, acquisitions or recessions. It is for information and education only and is not investment advice. See the methodology for how the growth rate is blended.