VZ
Verizon Communications Inc.
VZ has the edge over Z overall, supported by lower modeled downside.
Z
Zillow Group, Inc. Class C
Z offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
VZ Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Under pressure |
VZ's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is under pressure.
Z Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Healthy | |
| Strong |
Z's revenue, cash flow and balance sheet are currently healthy, but its profitability is under pressure.
VZ PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.3x | $32.43 | -30% |
| Forward | 9x | $46.55 | — |
| Fair | 11x | $43.63 | -6.3% |
| Current | 12x | $46.55 | — |
| Expensive | 14x | $56.75 | +22% |
Historical ranges are pointers, not guarantees.
VZ's PE is in its fair range at 12x. If earnings grow as analysts expect, today's price would be 9.0x next year's earnings, in its cheap range.
Z PE Valuation
Z has no meaningful PE right now: it lost money over the past year.
VZ Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect VZ's earnings to grow and its profitability to improve, with its revenue holding steady.
Z Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect Z's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
VZ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.19 | +32% |
| Q3 2026 | $3.93 | -16% |
| Q2 2026 | $3.85 | -10% |
| Q1 2026 | $4.11 | -2.1% |
| Q4 2025 | $4.06 | -1.9% |
| Q3 2025 | $4.68 | +103% |
| Q2 2025 | $4.29 | +61% |
| Q1 2025 | $4.20 | +57% |
| Q4 2024 | $4.14 | +51% |
VZ has the edge over Z on earnings quality, reporting a profit while its opponent remains loss making.
Z Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.08 | — |
| Q3 2026 | -$0.52 | -$0.37 |
| Q2 2026 | $0.22 | +$0.49 |
| Q1 2026 | $0.25 | +$0.60 |
| Q4 2025 | $0.09 | +$0.57 |
| Q3 2025 | -$0.15 | +$0.42 |
| Q2 2025 | -$0.27 | +$0.34 |
| Q1 2025 | -$0.35 | +$0.34 |
| Q4 2024 | -$0.48 | +$0.20 |
Z is still losing money, but far less than before: $0.52 per share over the past year, against $2.26 at its worst in mid-2022.
VZ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $34.3B | +1.5% |
| Q2 2026 | $34.3B | -0.7% |
| Q1 2026 | $34.4B | +2.9% |
| Q4 2025 | $36.4B | +2% |
| Q3 2025 | $33.8B | +1.5% |
| Q2 2025 | $34.5B | +5.2% |
| Q1 2025 | $33.5B | +1.5% |
| Q4 2024 | $35.7B | +1.6% |
VZ's revenue has held roughly level: $34.3B last quarter, up 1.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | +1.3 points |
| Q2 2026 | 21% | -2.7 points |
| Q1 2026 | 24% | +0.1 points |
| Q4 2025 | 14% | -7.1 points |
| Q3 2025 | 24% | +6.2 points |
| Q2 2025 | 24% | -0.2 points |
| Q1 2025 | 24% | +1 points |
| Q4 2024 | 21% | +19 points |
VZ has the edge over Z on profitability, with a higher operating margin.
Z Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $724M | +7.1% |
| Q2 2026 | $772M | +18% |
| Q1 2026 | $708M | +18% |
| Q4 2025 | $654M | +18% |
| Q3 2025 | $676M | +16% |
| Q2 2025 | $655M | +15% |
| Q1 2025 | $598M | +13% |
| Q4 2024 | $554M | +17% |
Z has the edge over VZ on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -22% | -22 points |
| Q2 2026 | -1.3% | +0.4 points |
| Q1 2026 | 5.1% | +6.6 points |
| Q4 2025 | -1.7% | +11 points |
| Q3 2025 | -0.4% | +7.3 points |
| Q2 2025 | -1.7% | +5 points |
| Q1 2025 | -1.5% | +7 points |
| Q4 2024 | -12% | +9.7 points |
Z's operating margin was −22% last quarter, down 22 points from the same quarter a year ago, near the bottom of its range since 2019.
VZ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $11.5B | +2.2% |
| Q2 2026 | $10.4B | +16% |
| Q1 2026 | $8B | +2.6% |
| Q4 2025 | $9.1B | -13% |
| Q3 2025 | $11.3B | +14% |
| Q2 2025 | $9B | -5.4% |
| Q1 2025 | $7.8B | +9.9% |
| Q4 2024 | $10.4B | +20% |
VZ's free cash flow has been positive every quarter for seven years: $39B over the past year, up 1.5% from the year before.
Z Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $128M | +75% |
| Q2 2026 | -$25M | -150% |
| Q1 2026 | $166M | +144% |
| Q4 2025 | $44M | -50% |
| Q3 2025 | $73M | -47% |
| Q2 2025 | $50M | +178% |
| Q1 2025 | $68M | +66% |
| Q4 2024 | $88M | +69% |
Z still generates free cash flow, though less than at its 2022 peak: $313M over the past year.
VZ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -10M shares |
| 1 year | -1.7% | -72M shares |
| 3 years | -1.3% | -55M shares |
| 5 years | +0.4% | +17M shares |
| Available history | +0.5% | +21M shares |
VZ has 4.2B diluted shares, down 1.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $500M |
| Q2 2026 | $1B |
| Q1 2026 | $2.5B |
Z Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -2.6M shares |
| 1 year | -12% | -30.9M shares |
| 3 years | -3.4% | -8M shares |
| 5 years | -11% | -28.8M shares |
| Available history | +9.2% | +18.9M shares |
Z has the edge over VZ on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $20M |
| Q2 2026 | $200M |
| Q1 2026 | $626M |
| Q4 2025 | $232M |
| Q3 2025 | $38M |
| Q2 2025 | $150M |
| Q1 2025 | $250M |
| Q4 2024 | — |
Z spent $1.1B buying back its own shares over the past year, up 146% from the year before.
VZ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.3x | Elevated |
| Q2 2026 | 3.4x | Elevated |
| Q1 2026 | 3.4x | Elevated |
| Q4 2025 | 2.9x | Moderate |
| Q3 2025 | 2.8x | Moderate |
| Q2 2025 | 3.0x | Moderate |
| Q1 2025 | 3.0x | Elevated |
| Q4 2024 | 3.0x | Elevated |
VZ's net debt is about 3.3 years of its operating earnings (EBITDA), up from 2.8 years a year ago.
Z Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.9x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -1.3x | Net Cash |
| Q4 2025 | -1.8x | Net Cash |
| Q3 2025 | -3.6x | Net Cash |
| Q2 2025 | -2.9x | Net Cash |
| Q1 2025 | -8.4x | Net Cash |
| Q4 2024 | -21.8x | Net Cash |
Z has the edge over VZ on leverage, with a lower net debt burden relative to earnings.
VZ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.9 | Neutral |
| Stochastic | 44.6 | Neutral |
VZ's weekly RSI is 51 (neutral) and its Stochastic is 45 (neutral).
Z Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.0 | Neutral |
| Stochastic | 28.4 | Neutral |
Z's weekly RSI is 37 (neutral) and its Stochastic is 28 (neutral).
VZ PE vs Communication Services Sector
| Metric | VZ | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 16x | 28% below |
| PE % | 58 | 26 | 32 pts above |
VZ has the edge over Z on valuation relative to its sector.
Z PE vs Communication Services Sector
| Metric | Z | Sector median | Relative |
|---|---|---|---|
| PE | 127x | 16x | 673% above |
| PE % | 19 | 26 | 7 pts below |
Z has no meaningful PE right now: it lost money over the past year.
VZ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $45.1 | 3.1% above |
| 20 week MA | $46.3 | 0.5% above |
| 50 week MA | $46.1 | 1.1% above |
| 100 week MA | $44.2 | 5.4% above |
| 200 week MA | $41.4 | 12% above |
VZ has the edge over Z on trend strength, trading above more of its moving averages.
Z Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.8 | 3.2% below |
| 20 week MA | $32.0 | 9.9% below |
| 50 week MA | $42.4 | 32% below |
| 100 week MA | $58.7 | 51% below |
| 200 week MA | $54.7 | 47% below |
Z is in a downtrend: it's below all five of its weekly moving averages, and 47% below its 200-week average.
VZ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $61.5 | $58.8 | -4.4% |
| 2021 | $58.8 | $52.7 | -10% |
| 2022 | $52.7 | $38.4 | -27% |
| 2023 | $38.4 | $37.7 | -1.8% |
| 2024 | $37.7 | $39.9 | +5.9% |
| 2025 | $39.9 | $40.5 | +1.4% |
| 2026 YTD | $40.5 | $46.6 | +15% |
VZ has the edge over Z on returns for 2026, with the stronger performance.
Z Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $46.1 | $138.6 | +201% |
| 2021 | $138.6 | $63.7 | -54% |
| 2022 | $63.7 | $33.1 | -48% |
| 2023 | $33.1 | $57.9 | +75% |
| 2024 | $57.9 | $76.2 | +32% |
| 2025 | $76.2 | $69.8 | -8.4% |
| 2026 YTD | $69.8 | $28.8 | -59% |
Z's yearly returns have swung widely, from +201% in 2020 to −54% in 2021. It's down 59% so far in 2026.