{"slug":"verizon","name":"버라이즌","name_en":"Verizon","ticker":"VZ","updated_at":"2026-09-11T12:39:35.708556+00:00","canonical":"https://valuechain.wiki/verizon","citable":"밸류체인 그래프 기준 버라이즌의 직접 연결 기업은 4곳(관계 기준 공급 1·매출 2·투자 1)이고, 사슬을 2차까지 넓히면 7곳에 닿는다. 링크의 근거 출처는 8건이며 그중 1차공시가 5건이다 (valuechain.wiki, 2026-09-11 기준).","citable_en":"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).","kicker":"미국 유무선 통신사","kicker_en":"U.S. wireless and fiber carrier","lead":"소비자와 기업·공공 부문에 무선, 광대역, 기업망 서비스를 제공하고 Comcast와 Charter 같은 케이블 MVNO에 무선망을 도매로 판다. 무선 타워 용량과 네트워크 설비를 임차하며, 위성 직접통신 확장을 위해 AST SpaceMobile에도 투자했다.","lead_en":"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.","categories":[{"key":"connectivity-operators","ko":"연결망 운영","en":"Connectivity Operators","theme":"communications-media","theme_ko":"통신·미디어","theme_en":"Communications & Media","theme_kind":"sector","primary":true}],"segments":{"parts":[{"name":"소비자 그룹","note":"2025 회계연도 영업수익 1,068억 700만 달러"},{"name":"비즈니스 그룹","note":"2025 회계연도 영업수익 290억 6,900만 달러"}],"total":"2025 회계연도 연결 영업수익 1,381억 9,100만 달러","track":"C"},"segments_en":{"parts":[{"name":"Verizon Consumer Group","note":"FY2025 operating revenue of $106.807 billion"},{"name":"Verizon Business Group","note":"FY2025 operating revenue of $29.069 billion"}],"total":"FY2025 consolidated operating revenue of $138.191 billion"},"returns_yearly":{"2021":-7.5,"2022":-20,"2023":2.7,"2024":13.1,"2025":8.9,"2026":29.3},"return_asof":"2026-09-04","value_chain":{"leading":[{"slug":"ebay","name":"이베이","name_en":"eBay Inc.","tier":3,"returns_yearly":{"2021":33.8,"2022":-36.5,"2023":7.7,"2024":44.8,"2025":42.7,"2026":30}},{"slug":"colgate-palmolive","name":"콜게이트파몰리브","name_en":"Colgate-Palmolive Company","tier":3,"returns_yearly":{"2021":2.1,"2022":-5.4,"2023":3.8,"2024":16.6,"2025":-11,"2026":14.4}},{"slug":"costco","name":"Costco Wholesale","name_en":"Costco Wholesale","tier":3,"returns_yearly":{"2021":51.8,"2022":-19,"2023":49,"2024":39.6,"2025":-5.4,"2026":10.3}},{"slug":"cintas","name":"신타스","name_en":"Cintas Corporation","tier":3,"returns_yearly":{"2021":26.5,"2022":3,"2023":34.8,"2024":22.2,"2025":3.8,"2026":7.4}},{"slug":"recursion","name":"Recursion Pharmaceuticals","name_en":"Recursion Pharmaceuticals","tier":3,"returns_yearly":{"2022":-55,"2023":27.9,"2024":-31.4,"2025":-39.5,"2026":6.6}},{"slug":"kraft-heinz","name":"크래프트 하인즈","name_en":"The Kraft Heinz Company","tier":3,"returns_yearly":{"2021":8,"2022":18.2,"2023":-5,"2024":-13,"2025":-16.3,"2026":6.1}},{"slug":"expedia-group","name":"익스피디아 그룹","name_en":"Expedia Group, Inc.","tier":3,"returns_yearly":{"2021":36.5,"2022":-51.5,"2023":73.3,"2024":22.8,"2025":53.3,"2026":5.8}},{"slug":"omnicom-group","name":"옴니콤 그룹","name_en":"Omnicom Group Inc.","tier":3,"returns_yearly":{"2021":21.9,"2022":15.7,"2023":9.6,"2024":2.5,"2025":-2.6,"2026":4.4}},{"slug":"honeywell-technologies","name":"하니웰 테크놀로지스","name_en":"Honeywell Technologies","tier":3,"returns_yearly":{"2021":-0.3,"2022":4.9,"2023":0,"2024":10,"2025":-6.4,"2026":3.8}},{"slug":"walmart","name":"Walmart Inc","name_en":"Walmart Inc","tier":3,"returns_yearly":{"2021":2,"2022":-0.5,"2023":12.9,"2024":74,"2025":24.5,"2026":0.6}},{"slug":"ingersoll-rand","name":"잉거솔 랜드","name_en":"Ingersoll Rand Inc.","tier":3,"returns_yearly":{"2021":35.8,"2022":-15.4,"2023":48.2,"2024":17.1,"2025":-12.3,"2026":-0.5}},{"slug":"mercadolibre","name":"MercadoLibre","name_en":"MercadoLibre, Inc.","tier":3,"returns_yearly":{"2021":-19.5,"2022":-37.2,"2023":85.7,"2024":8.2,"2025":18.5,"2026":-1.8}},{"slug":"hca-healthcare","name":"HCA 헬스케어","name_en":"HCA Healthcare, Inc.","tier":3,"returns_yearly":{"2021":57.6,"2022":-5.6,"2023":13.8,"2024":11.8,"2025":56.7,"2026":-2.9}},{"slug":"doordash","name":"도어대시","name_en":"DoorDash, Inc.","tier":3,"returns_yearly":{"2022":-67.2,"2023":102.6,"2024":69.6,"2025":35,"2026":-6.5}},{"slug":"uber","name":"Uber","name_en":"Uber","tier":3,"returns_yearly":{"2021":-17.8,"2022":-41,"2023":149,"2024":-2,"2025":35.5,"2026":-7.3}},{"slug":"planet-labs","name":"플래닛랩스","name_en":"Planet Labs","tier":3,"returns_yearly":{"2022":-29.3,"2023":-43.2,"2024":63.6,"2025":388.1,"2026":-8.1}},{"slug":"workday","name":"워크데이","name_en":"Workday, Inc.","tier":3,"returns_yearly":{"2021":14,"2022":-38.7,"2023":65,"2024":-6.5,"2025":-16.8,"2026":-8.8}},{"slug":"booking-holdings","name":"부킹 홀딩스","name_en":"Booking Holdings Inc.","tier":3,"returns_yearly":{"2021":7.7,"2022":-16,"2023":76,"2024":41.3,"2025":8.6,"2026":-9.3}},{"slug":"shopify","name":"Shopify","name_en":"Shopify","tier":3,"returns_yearly":{"2021":21.7,"2022":-74.8,"2023":124.4,"2024":36.5,"2025":51.4,"2026":-9.9}},{"slug":"autozone","name":"오토존","name_en":"AutoZone","tier":3,"returns_yearly":{"2021":76.8,"2022":17.6,"2023":4.8,"2024":23.8,"2025":5.9,"2026":-12}},{"slug":"salesforce","name":"세일즈포스","name_en":"Salesforce, Inc.","tier":3,"returns_yearly":{"2021":14.2,"2022":-47.8,"2023":98.5,"2024":27.8,"2025":-20.2,"2026":-12.9}},{"slug":"stryker","name":"스트라이커","name_en":"Stryker Corporation","tier":3,"returns_yearly":{"2021":10.2,"2022":-7.4,"2023":23.8,"2024":21.3,"2025":-1.5,"2026":-20.4}},{"slug":"mcdonalds","name":"McDonald's","name_en":"McDonald's","tier":3,"returns_yearly":{"2021":27.8,"2022":0.5,"2023":15.1,"2024":0.1,"2025":7.9,"2026":-21.5}},{"slug":"lvmh","name":"LVMH","name_en":"LVMH Moet Hennessy Louis Vuitton","tier":3,"returns_yearly":{"2021":46.6,"2022":12.7,"2023":-1.8,"2024":-7.3,"2025":-20.4,"2026":-29.4}},{"slug":"intuit","name":"인튜이트","name_en":"Intuit Inc.","tier":3,"returns_yearly":{"2021":70.3,"2022":-39.1,"2023":61.8,"2024":1.2,"2025":6.1,"2026":-53.7}},{"slug":"applovin","name":"앱러빈","name_en":"AppLovin Corporation","tier":3,"returns_yearly":{"2022":-88.8,"2023":278.4,"2024":712.6,"2025":108.1,"2026":-58.9}},{"slug":"anthropic","name":"Anthropic","name_en":"Anthropic","tier":3,"returns_yearly":null},{"slug":"alphabet","name":"알파벳 (구글)","name_en":"Alphabet (Google)","tier":2,"returns_yearly":{"2021":65.3,"2022":-39.1,"2023":58.3,"2024":36,"2025":66,"2026":8.3}},{"slug":"trade-desk","name":"트레이드 데스크","name_en":"Trade Desk (The)","tier":2,"returns_yearly":{"2021":14.4,"2022":-51.1,"2023":60.5,"2024":63.3,"2025":-67.7,"2026":-68.2}},{"slug":"comcast","name":"컴캐스트","name_en":"Comcast Corporation","tier":1,"returns_yearly":{"2021":-2.2,"2022":-28.7,"2023":29.1,"2024":-11.8,"2025":-17.3,"2026":-22.3}},{"slug":"charter-communications","name":"차터 커뮤니케이션스","name_en":"Charter Communications, Inc.","tier":1,"returns_yearly":{"2021":-1.4,"2022":-48,"2023":14.6,"2024":-11.8,"2025":-39.1,"2026":-27.2}}],"benefiting":[{"slug":"american-tower","name":"아메리칸 타워","name_en":"American Tower","tier":1,"returns_yearly":{"2021":32.9,"2022":-25.7,"2023":5.4,"2024":-12.2,"2025":-0.9,"2026":2.1}},{"slug":"ast-spacemobile","name":"AST SpaceMobile","name_en":"AST SpaceMobile","tier":1,"returns_yearly":{"2021":-41.5,"2022":-39.3,"2023":25.1,"2024":249.9,"2025":244.2,"2026":-29.8}},{"slug":"redwire","name":"Redwire","name_en":"Redwire","tier":2,"returns_yearly":{"2022":-70.7,"2023":43.9,"2024":477.5,"2025":-53.8,"2026":26.1}}],"analysis":"미국 유무선 통신사 기업. 최근 몇 년간 견조한 상승이 이어졌고 2026년 +29.3%다. 본주(+29.3%)와 수요단(평균 -1.9%)이 같은 보폭으로 움직인다.","analysis_en":"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_asof":"2026-09-04"},"edges":[{"direction":"investment","counterparty":"AST SpaceMobile","counterparty_slug":"ast-spacemobile","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2024-05-23","basis":"Verizon Ventures가 인수하기로 한 AST SpaceMobile 후순위 전환사채 원금","value":35000000,"period":"investment_agreed_2024-05-23","basis_en":"Principal amount of the AST SpaceMobile subordinated convertible note purchased by Verizon Ventures","qualifier":"convertible_note_principal"},"note":"Verizon Ventures는 AST SpaceMobile의 후순위 전환사채 원금 3,500만 달러를 인수하기로 했다. 함께 발표된 총 1억 달러 약정 가운데 나머지 6,500만 달러는 미래 서비스 매출에 충당되는 상업 선급금이어서 투자 금액에서 제외했다.","note_en":"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.","sources":[{"stance":"mentions","publisher":"메리츠증권 리서치센터","publisher_en":"Meritz Securities Research Center","kind":"research","lang":"ko","published_at":"2024-09-12","url":"https://home.imeritz.com/include/resource/research/WorkFlow/20240911171440008K_02.pdf","title":"MERITZ Strategy Daily 전략공감 2.0: AST SpaceMobile 5월 파트너십 발표 이후 급등","title_en":"MERITZ Strategy Daily: AST SpaceMobile Rallies After May Partnership Announcements","excerpt":"Verizon의 1억달러 투자 계획 소식에 주가가 급등하였다.","excerpt_en":"News of Verizon's planned $100 million investment drove AST SpaceMobile shares sharply higher."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2024-05-29","url":"https://www.sec.gov/Archives/edgar/data/1780312/000149315224021726/form8-k.htm","title":"AST SpaceMobile, Inc. 2024년 5월 23일 Form 8-K","title_en":"AST SpaceMobile, Inc. Current Report on Form 8-K dated May 23, 2024","excerpt":"AST SpaceMobile은 버라이즌이 인수하는 후순위 전환사채의 원금을 3,500만 달러로 공시했다.","excerpt_en":"a subordinated convertible note to Verizon for an aggregate principal amount of $35.0 million"}]},{"direction":"cost","counterparty":"아메리칸 타워","counterparty_slug":"american-tower","confidence":"high","metric":{"type":"count","unit":"wireless_sites","as_of":"2025-04-29","basis":"American Tower가 버라이즌 거래에 따라 임대·전대·관리하는 무선 통신 사이트 수","value":11100,"period":"first_five_year_renewal_exercised_2025","basis_en":"Wireless communications sites leased, subleased, or managed under American Tower's Verizon transaction","qualifier":"approximately"},"note":"버라이즌은 American Tower가 임대·전대·관리하는 약 1만1,100개 무선 사이트의 임차인이다. 2025년에 첫 5년 연장 옵션을 행사했으며 상대별 임차료 총액은 공개되지 않았다.","note_en":"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.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-04-29","url":"https://www.sec.gov/Archives/edgar/data/1053507/000105350725000102/amt-20250331.htm","title":"American Tower Corporation 2025년 1분기 Form 10-Q","title_en":"American Tower Corporation Form 10-Q for the Quarter Ended March 31, 2025","excerpt":"버라이즌은 초기 10년간 사이트 임차인이었고 첫 5년 연장 옵션을 행사했다.","excerpt_en":"Verizon occupied the sites as a tenant for an initial term of ten years and has exercised its first renewal option"}]},{"direction":"revenue","counterparty":"컴캐스트","counterparty_slug":"comcast","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-12-10","basis":"Comcast가 버라이즌에 지급하는 연간 무선망 도매 이용료. Comcast와 Charter의 합산 추정치만 공개돼 개별 금액은 비공개","value":null,"period":"Q3_2025_annualized","basis_en":"Annual wireless wholesale payments from Comcast to Verizon; only a combined Comcast and Charter estimate is public","qualifier":"confirmed_no_disclosed_value"},"note":"Comcast는 Xfinity Mobile 등 미국 내 무선 서비스를 위해 버라이즌의 무선망을 도매로 사용한다. Comcast가 버라이즌에 지급하는 개별 도매망 이용료는 공개되지 않았다.","note_en":"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.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","title":"Verizon Communications Inc. 2025 회계연도 Form 10-K","title_en":"Verizon Communications Inc. 2025 Form 10-K","excerpt":"재판매 사업자는 버라이즌을 포함한 통신사에서 대량 도매 서비스를 사서 고객에게 다시 판다.","excerpt_en":"resellers that buy bulk wholesale service from wireless service providers, including Verizon"},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1166691/000162828026004994/cmcsa-20251231.htm","title":"Comcast Corporation 2025 회계연도 Form 10-K","title_en":"Comcast Corporation 2025 Form 10-K","excerpt":"Comcast는 미국 내 무선 서비스를 버라이즌의 무선망에서 제공한다고 공시했다.","excerpt_en":"Our domestic wireless services are offered over Verizon's wireless network"},{"stance":"confirms","publisher":"Recon Analytics","publisher_en":"Recon Analytics","kind":"research","lang":"en","published_at":"2025-12-10","url":"https://www.reconanalytics.com/products/2025-december-cable-cbrs-report-vf/","title":"Super Owner Economics: Charter & Comcast's Network Jiu-Jitsu","title_en":"Super Owner Economics: Charter & Comcast's Network Jiu-Jitsu","excerpt":"Recon Analytics는 Comcast와 Charter의 가입자 2,030만 명이 버라이즌에 연간 약 32억 달러의 합산 도매 대금을 발생시킨다고 추정했다.","excerpt_en":"the two companies collectively serve 20.3 million wireless subscribers and generate approximately $3.2 billion in annual wholesale payments to Verizon"}]},{"direction":"revenue","counterparty":"차터 커뮤니케이션스","counterparty_slug":"charter-communications","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-12-10","basis":"Charter가 버라이즌에 지급하는 연간 무선망 도매 이용료. Comcast와 Charter의 합산 추정치만 공개돼 개별 금액은 비공개","value":null,"period":"Q3_2025_annualized","basis_en":"Annual wireless wholesale payments from Charter to Verizon; only a combined Comcast and Charter estimate is public","qualifier":"confirmed_no_disclosed_value"},"note":"Charter는 Spectrum Mobile의 전국 이동통신 서비스를 제공하기 위해 버라이즌의 셀룰러 망을 도매로 사용한다. Charter가 버라이즌에 지급하는 개별 도매망 이용료는 공개되지 않았다.","note_en":"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.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-17","url":"https://www.sec.gov/Archives/edgar/data/732712/000073271226000007/vz-20251231.htm","title":"Verizon Communications Inc. 2025 회계연도 Form 10-K","title_en":"Verizon Communications Inc. 2025 Form 10-K","excerpt":"버라이즌은 Comcast와 Charter를 자사 도매 무선 서비스를 사서 재판매하는 케이블 사업자로 명시했다.","excerpt_en":"Resellers include cable companies, such as Comcast Corporation and Charter Communications, Inc."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/1091667/000109166726000017/chtr-20251231.htm","title":"차터 커뮤니케이션스 2025 회계연도 10-K","title_en":"Charter Communications FY2025 Form 10-K","excerpt":"Charter는 Spectrum Mobile이 버라이즌의 셀룰러 망을 활용한다고 공시했다.","excerpt_en":"leveraging the cellular network of Verizon Communications Inc."}]},{"direction":"cost","counterparty":"Vertical Bridge","counterparty_slug":null,"confidence":"mid","metric":{"type":"count","unit":"wireless_towers","as_of":"2024-09-30","basis":"버라이즌이 Vertical Bridge에서 용량을 다시 임차하기로 한 무선 타워 수","value":6339,"period":"initial_leaseback_term_10_years","basis_en":"Wireless towers on which Verizon agreed to lease back capacity from Vertical Bridge","qualifier":null},"note":"버라이즌은 6,339개 무선 타워의 운영권을 Vertical Bridge에 맡기는 선불 임대 거래와 함께 해당 타워 용량을 10년간 다시 임차하는 앵커 테넌트 계약을 맺었다. 이 엣지는 버라이즌이 지급하는 임차료를 뜻하며 거래에서 버라이즌이 받은 선불금은 비용 metric에 넣지 않았다.","note_en":"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.","sources":[{"stance":"confirms","publisher":"버라이즌","publisher_en":"Verizon","kind":"ir","lang":"en","published_at":"2024-09-30","url":"https://www.verizon.com/about/news/feed/verizon-and-vertical-bridge-agree-33-billion-tower-transaction","title":"버라이즌과 Vertical Bridge, 33억 달러 규모 타워 거래 합의","title_en":"Verizon and Vertical Bridge agree to $3.3 billion tower transaction","excerpt":"버라이즌은 타워 용량을 Vertical Bridge에서 10년간 다시 임차하는 계약을 맺는다.","excerpt_en":"Verizon will enter into a 10-year agreement to lease back capacity on the towers from Vertical Bridge"}]}]}