Should You Worry That Verizon Stopped Leading With This One Metric?

Verizon Communications (VZ) stock trades at 11.9 times earnings, compared to 21.5 for the S&P 500. Investors tempted by even that modest valuation still need to understand the underlying business, and the company has recently shifted its focus. Back in July 2025, executives highlighted wireless service revenue, its revenue from mobile service, as their key metric. Today, they emphasize a different figure. So which number does Verizon want you to watch now.