U.S. wireless and fiber carrier
Verizon
Verizon sells wireless, broadband, and enterprise network services to consumers, businesses, and public-sector customers, while supplying wholesale wireless access to cable MVNOs such as Comcast and Charter. It leases tower capacity and other network infrastructure and has invested in AST SpaceMobile to extend direct-to-device satellite coverage.
VZ Updated Sep 11, 2026 4 AI consumers· 1 recurring
Per the valuechain.wiki graph, Verizon is directly linked to 4 companies (1 supply, 2 revenue, 1 investment relationships) and reaches 7 companies within two hops; the links are backed by 8 dated sources, 5 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · FY2025 consolidated operating revenue of $138.191 billion
- Segments · Verizon Consumer Group · Verizon Business Group
Revenue from
- Comcast Corporation High confidence
Comcast uses Verizon's wireless network on a wholesale basis for U.S. wireless offerings including Xfinity Mobile. Comcast's standalone wholesale payments to Verizon are not disclosed.Confirms EN Recon Analytics Published Dec 10, 2025: Super Owner Economics: Charter & Comcast's Network Jiu-Jitsu - Charter Communications High confidence
Charter uses Verizon's cellular network on a wholesale basis to provide nationwide Spectrum Mobile service. Charter's standalone wholesale payments to Verizon are not disclosed.
Pays to
- American Tower High confidence· Count 11,100 wireless_sites · first five year renewal exercised 2025 · Wireless communications sites leased, subleased, or managed under American Tower's Verizon transaction
Verizon is a tenant across approximately 11,100 wireless sites leased, subleased, or managed by American Tower. It exercised the first five-year renewal option in 2025; total counterparty-specific rent is not disclosed.Confirms EN SEC EDGAR Published Apr 29, 2025: American Tower Corporation Form 10-Q for the Quarter Ended March 31, 2025 - Vertical Bridge Medium confidence· Count 6,339 wireless_towers · initial leaseback term 10 years · Wireless towers on which Verizon agreed to lease back capacity from Vertical Bridge
Alongside a prepaid lease granting Vertical Bridge rights over 6,339 wireless towers, Verizon agreed to become the anchor tenant and lease back capacity for ten years. This edge represents Verizon's lease obligation; the upfront proceeds received by Verizon are excluded from the cost metric.Confirms EN Verizon Published Sep 30, 2024: Verizon and Vertical Bridge agree to $3.3 billion tower transaction
Investments
- AST SpaceMobile High confidence· Amount $35M · investment agreed 2024-05-23 · Principal amount of the AST SpaceMobile subordinated convertible note purchased by Verizon Ventures
Verizon Ventures agreed to purchase a $35 million subordinated convertible note issued by AST SpaceMobile. The remaining $65 million of the announced $100 million package consists of commercial prepayments creditable against future service revenue and is excluded from the investment metric.Mentions KO Meritz Securities Research Center Published Sep 12, 2024: MERITZ Strategy Daily: AST SpaceMobile Rallies After May Partnership AnnouncementsConfirms EN SEC EDGAR Published May 29, 2024: AST SpaceMobile, Inc. Current Report on Form 8-K dated May 23, 2024
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Alphabet (Google) | lead2 | +65.3 | -39.1 | +58.3 | +36 | +66 | +8.3 |
| Trade Desk (The) | lead2 | +14.4 | -51.1 | +60.5 | +63.3 | -67.7 | -62 |
| Comcast Corporation | lead1 | -2.2 | -28.7 | +29.1 | -11.8 | -17.3 | -1.9 |
| Charter Communications | lead1 | -1.4 | -48 | +14.6 | -11.8 | -39.1 | -27.2 |
| Verizon | node | -7.5 | -20 | +2.7 | +13.1 | +8.9 | +29.3 |
| American Tower | benef1 | +32.9 | -25.7 | +5.4 | -12.2 | -0.9 | +2.1 |
| AST SpaceMobile | benef1 | -41.5 | -39.3 | +25.1 | +249.9 | +244.2 | -14.2 |
| Redwire | benef2 | · | -70.7 | +43.9 | +477.5 | -53.8 | +38.6 |
YTD as of 2026-09-04 · source: Yahoo Finance
Verizon operates across U.S. wireless and fiber carrier. It stayed steadily positive in recent years and is +29.3% in 2026. The stock (+29.3%) and its demand side (avg -1.9%) are moving in step. It leases tower capacity and other network infrastructure and has invested in AST SpaceMobile to extend direct-to-device satellite coverage.
Analysis generated from returns as of 2026-09-04