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VRSN

VeriSign, Inc.

VRSN

VeriSign, Inc. • NASDAQ
$251.99 ▼ -0.27% (-0.68)
Market Cap $23.36 B
52w High $310.60
52w Low $185.44
Dividend Yield 3.08%
P/E 29.4
Volume 1.85M
Outstanding Shares 92.71M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $419.1M ▲ $86M ▲ $212.8M ▲ 50.775% ▲ $2.28 ▲ $297.9M ▲
Q2-2025 $409.9M ▲ $80.1M ▼ $207.4M ▲ 50.598% ▲ $2.21 ▲ $294.5M ▲
Q1-2025 $402.3M ▲ $81.7M ▼ $199.3M ▲ 49.54% ▲ $2.11 ▲ $287.6M ▲
Q4-2024 $395.4M ▲ $83.2M ▲ $191.5M ▼ 48.432% ▼ $2 ▼ $275.7M ▼
Q3-2024 $390.6M $74.5M $201.3M 51.536% $2.07 $288.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $617.7M ▲ $1.404B ▼ $3.454B ▲ $-2.05B ▼
Q2-2025 $593.8M ▼ $1.408B ▼ $3.402B ▼ $-1.994B ▼
Q1-2025 $648.5M ▲ $1.448B ▲ $3.425B ▲ $-1.977B ▼
Q4-2024 $599.9M ▼ $1.407B ▼ $3.364B ▲ $-1.958B ▼
Q3-2024 $644.9M $1.462B $3.363B $-1.901B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $212.8M ▲ $307.7M ▲ $-104M ▲ $-286.3M ▼ $-78.9M ▲ $303M ▲
Q2-2025 $207.4M ▲ $202.5M ▼ $-213M ▼ $-251.1M ▼ $-261.2M ▼ $194.7M ▼
Q1-2025 $199.3M ▲ $291.3M ▲ $317.6M ▲ $-239.9M ▲ $368.7M ▲ $285.5M ▲
Q4-2024 $191.5M ▼ $231.5M ▼ $-20.7M ▼ $-270.5M ▲ $-60.6M ▼ $222M ▼
Q3-2024 $201.3M $253.4M $60.5M $-299.1M $15.2M $247.8M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past five years, at a measured but consistent pace. Profitability is very strong: gross, operating, and EBITDA margins are all high and have generally improved, showing good cost control and operating leverage. Net income has been solid, though with some year‑to‑year noise rather than a perfectly smooth trend. Earnings per share have climbed meaningfully over time, helped not only by stable profits but also by share repurchases, which spread earnings over fewer shares. Overall, this is a high‑margin, slow‑but‑steady income profile rather than a hyper‑growth story.

Balance Sheet

Balance Sheet The balance sheet is unusual but typical for a mature, asset‑light, buyback‑heavy company. Total assets have drifted down from earlier levels, while cash balances remain comfortable but not excessive. Debt is sizable and has stayed roughly unchanged for several years, meaning leverage is a persistent part of the capital structure. Shareholder equity is negative, driven largely by aggressive share repurchases rather than operating losses, which explains why accounting capital looks weak even though the business is profitable. The key risk is that this leverage requires continued stable cash generation and access to financing; the company does not have a large asset base to fall back on if conditions worsen.

Cash Flow

Cash Flow Cash generation is a major strength. Operating cash flow is robust and tracks profits closely, indicating that earnings are backed by real cash, not accounting adjustments. Free cash flow is very high because the business requires relatively little capital spending to operate and grow. This capital‑light model means most cash can be directed to debt service, buybacks, or other corporate uses rather than heavy reinvestment in physical assets. The flip side is that growth depends more on pricing power, volume growth in domain activity, and selective technology investment rather than large tangible build‑outs. Overall, the cash flow profile is strong, stable, and highly efficient.

Competitive Edge

Competitive Edge VeriSign sits at the core of the internet’s plumbing with a near‑monopolistic role in the .com and .net domains under long‑term contracts with ICANN. This position gives it substantial pricing power and highly recurring revenue. Its scale, decades‑long track record of reliability, and deep relationships with registrars form high barriers to entry. Few, if any, rivals can credibly match its combination of uptime, security, and global infrastructure. However, this centrality also invites regulatory and political attention, and contract renewals and pricing oversight remain key structural risks. Competition from other domain extensions and evolving naming systems is real but, so far, has not seriously eroded its core position.

Innovation and R&D

Innovation and R&D Innovation is focused on keeping the internet’s naming system fast, safe, and reliable rather than on flashy new consumer products. The proprietary ATLAS platform and a long history of 100% uptime for major domains show strong execution in large‑scale, mission‑critical infrastructure. VeriSign invests in cybersecurity, DDoS protection, managed DNS, and recursive DNS services that leverage its existing strengths. Its patent activity, including AI‑driven domain name tools, and work on post‑quantum cryptography highlight attention to future threats and opportunities. The company’s R&D style is targeted and infrastructure‑centric: less about broad experimentation, more about deepening resilience, security, and efficiency in its niche. The main risk is that alternative technologies, new naming systems, or expanded generic domains change the landscape faster than its current innovation pace anticipates.

Summary

VeriSign is a mature, highly profitable infrastructure company sitting in a structurally advantaged corner of the internet. Its income statement shows strong margins and steady, modest growth. Cash flows are exceptionally healthy and capital‑light, supporting ongoing leverage and buybacks, which in turn amplify earnings per share. The balance sheet looks unusual due to negative equity and steady debt, reflecting financial engineering more than operational weakness, but it does increase reliance on continued stable cash generation. Competitively, the company benefits from a powerful structural moat but faces ongoing regulatory scrutiny and gradual shifts in how the internet is named and secured. Future outcomes will hinge on its ability to maintain contract stability, stay ahead of cybersecurity and cryptography changes, and thoughtfully navigate new domain extensions and internet infrastructure trends.

NEWS

October 23, 2025 · 5:00 PM UTC

DNIB.com Reports Internet Has 378.5 Million Domain Name Registrations at the End of the Third Quarter of 2025

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October 23, 2025 · 4:05 PM UTC

Verisign Reports Third Quarter 2025 Results

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October 1, 2025 · 4:05 PM UTC

Verisign to Report Third Quarter 2025 Financial Results

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