Verizon Communications Inc. (VZ): net debt to ebitda, 10 filed years
Net debt/EBITDA at Verizon Communications Inc. was 3.47x in FY2025, the newest filed year. Across the 9 computed years from FY2017 it ranged from 2.59x (FY2017) to 4.32x (FY2023), with a median of 3.47x.
Tonight's figure on the company page: 3.47x, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | Net debt/EBITDA | Read from |
|---|---|---|
| FY2016 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read. | n/a | 10-K, filed 2017-02-21 |
| FY2017 | 2.59x | 10-K, filed 2018-02-23 |
| FY2018 | 3.34x | 10-K, filed 2019-02-15 |
| FY2019 | 2.80x | 10-K, filed 2020-02-21 |
| FY2020 | 2.86x | 10-K, filed 2021-02-25 |
| FY2021 | 3.62x | 10-K, filed 2022-02-11 |
| FY2022 | 3.69x | 10-K, filed 2023-02-10 |
| FY2023 | 4.32x | 10-K, filed 2024-02-09 |
| FY2024 | 3.57x | 10-K, filed 2025-02-12 |
| FY2025 | 3.47x | 10-K, filed 2026-02-17 |
How each year is computed
(Total debt - cash) / EBITDA
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.