Is Verizon a capital intensive business based on FY 2022 data?
Consolidated Balance Sheets 
Verizon Communications Inc. and Subsidiaries 
(dollars in millions, except per share amounts) 
At December 31,
2022
2021 
Assets 
Current assets 
Cash and cash equivalents
$ 
2,605 
$ 
2,921 
Accounts receivable
 
25,332 
 
24,742 
Less Allowance for credit losses
 
826 
 
896 
Accounts receivable, net 
 
24,506 
 
23,846 
Inventories
 
2,388 
 
3,055 
Prepaid expenses and other
 
8,358 
 
6,906 
Total current assets
 
37,857 
 
36,728 
Property, plant and equipment
 
307,689 
 
289,897 
Less Accumulated depreciation
 
200,255 
 
190,201 
Property, plant and equipment, net
 
107,434 
 
99,696 
Investments in unconsolidated businesses
 
1,071 
 
1,061 
Wireless licenses
 
149,796 
 
147,619 
Goodwill
 
28,671 
 
28,603 
Other intangible assets, net
 
11,461 
 
11,677 
Operating lease right-of-use assets
 
26,130 
 
27,883 
Other assets
 
17,260 
 
13,329 
Total assets
$ 
379,680 
$ 
366,596
Yes. Verizon's capital intensity ratio was approximately 2.774729. This means that it took approximately $2.77 of assets to generate $1 of revenue and thus, Verizon can be considered capital intensive.
capital intensity ratio = total asset / revenue = 379680/ 136835 = 2.774729, which is relatively high