PE 估值›Communication Services›VZ

Verizon Communications Inc.（VZ）公允价值与 PE 分析

Telecommunications Services · NYSE

当前价格

$48.11

PE Ratio (TTM)

11.7x

内在价值

$61.9

安全边际 +22.3%

Verizon Communications Inc. 的公允价值是多少？

截至 2026-06-12，对 Verizon Communications Inc.（VZ）每股收益 $4.12 套用 12.0x 的盈利倍数，得出每股公允价值估算约 $61.9，当前股价为 $48.11。

基于盈利倍数的公允价值对所选倍数很敏感。在敏感性网格上，估算区间为 $47.24 至 $78.91。这是锚定盈利的相对估算，并非事实定论。如需基于现金流的视角，请参阅 DCF 页面的内在价值估算。

我们的 PE 模型如何运作 · 用 PE 模式重新计算 · VZ 内在价值（DCF 视角）

Verizon Communications Inc.（VZ）被高估了吗？

在 $48.11 的价格下，VZ 的交易价比其基于 PE 的公允价值估算低约 22.3%，相对其盈利能力有一定折让，但还不足以让我们直接称其便宜。

AI 护城河与风险分析

AI 生成 · 仅供参考VZ

竞争护城河

↑网络规模优势

Verizon拥有庞大且成熟的无线和固定网络基础设施，这构成了显著的进入壁垒。新进入者难以复制其覆盖范围和容量，为公司提供了稳定的客户基础。

↑品牌忠诚度

作为行业领导者，Verizon享有较高的品牌认知度和客户信任度。稳定的股息支付也吸引了寻求稳定收入的投资者，增强了客户粘性。

↑技术升级能力

公司持续投资于5G和光纤等前沿技术，以满足不断增长的数据需求。这有助于其保持服务质量和竞争力，吸引对高性能网络有需求的客户。

投资风险

↓竞争加剧

电信行业竞争激烈，包括T-Mobile和AT&T等主要竞争对手，以及可能出现的低成本服务提供商。价格战和用户争夺可能侵蚀利润率。

↓AI对客服影响

公司CEO提到AI可能取代大量客服人员，这预示着潜在的劳动力成本结构变化和对现有员工的影响，可能引发运营和人力资源方面的挑战。

↓资本支出压力

持续的网络升级和扩张需要巨额资本支出，这可能限制自由现金流的增长，并对股息支付和股东回报构成压力。

基准情形

VZ 基准情形 PE 估值

内在价值

$61.9

安全边际

+22.3%

预期年化收益

+5.2%

基准情形假设：盈利年增长率 6.9%、目标 P/E 倍数 12x、折现率 10%、预测 5 年。数据截至 2026-06-12。

本基准情形采用默认假设，不构成投资建议。当目标 PE 或盈利增长率变化时，公允价值会显著改变。打开计算器可设置你自己的假设，并查看完整的敏感性区间。

自定义 VZ PE 估值

调节目标 PE、盈利增长和折现率，查看 Verizon Communications Inc. 的公允价值与安全边际如何变化。

打开 VZ PE 计算器

或试试 VZ DCF 估值 →

公司简介

Verizon Communications Inc. operates as a prominent global provider of diverse communication, technology, information, and entertainment solutions, catering to individuals, enterprises, and government entities worldwide through its various divisions. Its Consumer segment focuses on individual customers, supplying a broad spectrum of mobile service options, including both subscription-based (postpaid) and pay-as-you-go (prepaid) plans. This segment also facilitates internet access for portable devices such as laptop computers and tablets, and offers a variety of wireless hardware, ranging from smartphones and traditional mobile handsets to advanced wireless-enabled gadgets like tablets and smartwatches. Additionally, it delivers essential residential fixed connectivity services, which encompass internet, television, and voice communication. Verizon also extends its network capabilities by providing access to mobile virtual network operators. As of December 31, 2021, this segment reported approximately 115 million wireless retail connections, 7 million wireline broadband connections, and 4 million Fios video connections. The company's Business segment is dedicated to providing enterprise-level solutions. It offers comprehensive network connectivity products, including private networking, private cloud integration, virtual and software-defined networking, and high-speed internet access services. This segment further delivers sophisticated internet protocol-based voice and video communication tools, unified communications and collaboration platforms, and specialized customer contact center solutions. Beyond core connectivity, it provides a suite of managed services and data security offerings. Its extensive portfolio also covers domestic and international voice and data services, such as calling, messaging, conferencing, advanced contact center functionalities, and dedicated private line and data access networks. Moreover, the Business segment furnishes customer premises equipment, along with essential installation, maintenance, and on-site support services, and a wide array of Internet of Things (IoT) products and services. By December 31, 2021, this segment had approximately 27 million wireless retail postpaid connections and 477 thousand wireline broadband connections. Verizon Communications Inc. was incorporated in 1983 and holds its corporate headquarters in New York, New York. The company, which was originally known as Bell Atlantic Corporation, officially adopted its current name in June 2000.

财务指标 — VZ PE 估值数据

PE Ratio (TTM)

11.7x

PEG Ratio

n/m

Earnings Yield

8.57%

ROE (TTM)

16.7%

Revenue/Share (TTM)

$33.09

Dividend Yield

5.75%

Debt/Equity

1.90x

常见问题

VZ 的市盈率是多少？

VZ 的过去 12 个月市盈率反映投资者为 Verizon Communications Inc. 每一美元收益所支付的价格。该指标在与Telecommunications Services同类公司和公司自身历史区间对比时最有意义。

基于市盈率，VZ 被高估了吗？

VZ 的市盈率 11.7x 结合 PEG 比率 -4.10 提供了增长调整后的视角。VZ 盈利为负，市盈率和 PEG 比率此时均无意义，无法判断股票被高估还是低估。注意 PE 估值最适合盈利稳定的成熟公司——对于高增长或周期性Telecommunications Services，DCF 分析可能更合适。

如何使用市盈率对 VZ 进行估值？

对 Verizon Communications Inc. 使用 PE 估值的步骤：(1) 将当前市盈率 (11.7x)与Telecommunications Services中位数对比评估相对定价，(2) 查看 PEG 比率 (-4.10)以调整增长预期，(3) 参考 5 年 PE 历史区间判断当前位置，(4) 用目标 PE 乘以前瞻 EPS 估算公允价值。这种相对估值方法与 DCF 的绝对估值互为补充。

VZ 的 PEG 比率是多少？

VZ 的 PEG 比率为 -4.10，由市盈率（11.7x）除以预期盈利增速计算。由于 VZ 盈利为负，其 PEG 比率没有意义，不应被解读为低估或高估的信号。注意 PEG 的准确性取决于增长预期的可靠性。

对 VZ 应该使用 PE 还是 DCF 估值？

PE 市盈率给出快速的相对定价——VZ 相对于Telecommunications Services同类的估值水平。DCF 基于预期自由现金流提供绝对价值。对于 VZ，ROE 达到 16.7%，两种方法都值得使用——PE 做市场对比，DCF 验证基本面是否支撑当前价格。两种方法各有盲区：PE 忽略了资本结构和现金流质量，DCF 则对增长率和折现率假设非常敏感。

了解更多

查看 VZ DCF 估值 → — 通过折现现金流分析计算内在价值
PE 方法论 — PE 市盈率估值分步指南
DCF 方法论 — 折现现金流分析指南
PE 市盈率 — 理解市盈率
内在价值 — 如何评估股票公允价值