We publish no single base value for Verizon. Our valuation methods put it between $38.39 and $98.65 a share. The valuation code's reason: no point fair value: the two anchors behind it compound the same growth rate and differ only in how they end — a perpetuity at the terminal rate against a multiple on the final year — so the midpoint between them measures terminal treatment rather than what the business is worth. The published range is the same reading with the false precision removed: read it as the span the method supports, and treat neither edge as a point estimate.
| Method | Value | vs price | Basis |
|---|---|---|---|
| Discounted cash flow | $98.65 | +111.9% | free cash flow $21.11bn, growth 1.38% for 5 years, then fading to 3% over 5 more, discounted at 7.79%; stress floor $67.17 |
| Exit multiple (P/E) | $38.39 | -17.5% | earnings per share $5.06 valued at 10× (the 10× floor; the stock's own median P/E is 7.3×) in 5 years, discounted back |
| Sum of the parts | — | — | no sum of the parts: the filing states no operating profit for 'Consumer'. The rest are not published without it — a sum missing a part reads as a valuation and is simply wrong |
| Price to sales | — | — | not reached: the cash-flow or earnings methods produced an anchor, so this fallback was not run |
| Tangible book | — | — | used only for lenders, where book value is the business |
| Price to FFO (REITs) | — | — | used only for REITs |
Each working is rebuilt by code from the valuation's own figures and checked against the published value.
The discount rate:
| Risk-free rate | 5.13% (10-year US Treasury yield) |
| Company's own beta | 0.28 (5 years of monthly returns against the S&P 500; standard error 0.18) |
| Peer beta | 1.00 (median of 19 S&P 500 Communication Services companies) |
| Blend of own and peers | 0.38 (86% own, 14% peers, weighted by how precisely the company's own beta is measured) |
| Adjusted beta | 0.59 (0.67 × 0.38 + 0.33, pulled toward the market's 1.0) |
| Equity risk premium | 4.5% |
| Discount rate = risk-free + adjusted beta × premium | 7.79% |
Free cash flow grows 1.38% a year for 5 years, then fades in equal steps toward 3% over 5 more; each year is discounted by 1 ÷ (1 + rate)^year:
| Year | Growth | Free cash flow | Discount factor | Present value |
|---|---|---|---|---|
| Now | — | $21.11bn | — | — |
| Year 1 | 1.38% | $21.40bn | 0.9278 | $19.86bn |
| Year 2 | 1.38% | $21.70bn | 0.8608 | $18.68bn |
| Year 3 | 1.38% | $22.00bn | 0.7986 | $17.57bn |
| Year 4 | 1.38% | $22.30bn | 0.7409 | $16.52bn |
| Year 5 | 1.38% | $22.61bn | 0.6874 | $15.54bn |
| Year 6 | 1.65% | $22.98bn | 0.6377 | $14.66bn |
| Year 7 | 1.92% | $23.42bn | 0.5917 | $13.86bn |
| Year 8 | 2.19% | $23.94bn | 0.5490 | $13.14bn |
| Year 9 | 2.46% | $24.52bn | 0.5093 | $12.49bn |
| Year 10 | 2.73% | $25.19bn | 0.4725 | $11.90bn |
| Terminal value = year-10 cash flow × (1 + 3%) ÷ (7.79% − 3%) | $542.32bn |
| Terminal value in today's money | $256.25bn |
| Present value of years 1–10 | $154.21bn |
| Total present value | $410.47bn |
| Shares outstanding | 4.16bn |
| Value per share = total ÷ shares | $98.65 |
How the DCF value moves with the discount rate and the starting growth (the middle cell is the published value):
| Discount rate | Growth -3.62% | Growth 1.38% | Growth 6.38% |
|---|---|---|---|
| 6.79% | $89.59 | $124.31 | — |
| 7.79% | $71.87 | $98.65 | — |
| 8.79% | $60.24 | $81.84 | $110.87 |
The same DCF at each beta, starting growth unchanged:
| Beta | Value | Discount rate | DCF value |
|---|---|---|---|
| Company's own beta | 0.28 | 6.39% | $138.62 |
| Peer beta | 1.00 | 9.63% | $71.58 |
| Adjusted beta (used) | 0.59 | 7.79% | $98.65 |
Earnings per share grow on the same fading path as the DCF:
| Year | Growth | Earnings per share |
|---|---|---|
| Now | — | $5.06 |
| Year 1 | 1.38% | $5.12 |
| Year 2 | 1.78% | $5.22 |
| Year 3 | 2.09% | $5.33 |
| Year 4 | 2.32% | $5.45 |
| Year 5 | 2.49% | $5.58 |
| Earnings per share in year 5 | $5.58 |
| Exit P/E (the 10× floor; the stock's own median P/E is 7.3×) | 10× |
| Value in 5 years = earnings × P/E | $55.84 |
| Discounted at 7.79% over 5 years: ÷ 1.4548 | $38.39 |
We publish no single base value for Verizon. Our valuation methods put it between $38.39 and $98.65 a share. The valuation code's reason: no point fair value: the two anchors behind it compound the same growth rate and differ only in how they end — a perpetuity at the terminal rate against a multiple on the final year — so the midpoint between them measures terminal treatment rather than what the business is worth. The published range is the same reading with the false precision removed: read it as the span the method supports, and treat neither edge as a point estimate.
One-year price simulation: a 10% chance the price is below $33.16 and a 10% chance it is above $69.89 in a year; a 55% chance it is higher than today's $46.55, from 28.94% volatility. The simulation assumes the price drifts up at our discount rate of 7.79% a year.
At $46.55 the price implies free cash flow growing -10.4% a year for five years and then fading toward 3% over five more; its revenue has grown 1.4%.
| Week | Price | Base value |
|---|---|---|
| 2 Oct 2026 | $45.92 | — |
| 9 Oct 2026 | $41.65 | — |
| 16 Oct 2026 | $44.79 | — |
| 23 Oct 2026 | $44.66 | — |
| 30 Oct 2026 | $44.73 | — |
| 6 Nov 2026 | $45.69 | — |
| 12 Nov 2026 | $46.55 | — |
Data as of 12 Nov 2026; financials to 30 Sep 2026. Sources: company filings via EODHD, SEC EDGAR, US Treasury. How these values are computed. Not investment advice.
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