Comcast (CMCSA)

Communication Services · $86.5B market cap · SEC CIK 0001166691

Next reports on Jan 27, 2027, after the close, with analysts expecting $0.62 in earnings per share.

52-week range $20.48 to $32.86. 25% below its 52-week high and 21% above its low.

The case for CMCSA

• Cheap for its growth: 7.6× earnings, where 7% a year of growth plus a 2.7% dividend would justify about 23×.
• Generated $21.9B of free cash flow in FY2025, 18% of revenue.
• Trades at 0.83× book value, below what the balance sheet says it owns.
• Free cash flow of 25.3% of its market value a year: a lot of cash for the price.
• Pays a 2.7% dividend while you wait.
• Gross margin of 70% absorbs cost shocks.

The case against

• Earnings per share down 47.7%.
• Revenue was flat on the year (−0.3%).
• Current liabilities exceed current assets (ratio 0.82).
• The price trend is weak (39/100): −4.4% over a year, −2.7% over three months, 25% below its 52-week high.
• Long-term debt of $93.0B against $9.5B of cash.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Communication Services companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Each factor except momentum is half fixed thresholds, half rank among the 19 Communication Services companies.

The financials

The financials, five years deep

Pulled from Comcast's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What Comcast says it does

We are a global media and technology company that reaches customers, viewers and guests worldwide through the connectivity and platforms services we provide and the content and experiences we create. We deliver broadband, wireless, video and voice services primarily under the Xfinity, Comcast Business, Sky and NOW brands; produce, distribute and stream leading entertainment, sports and news through brands including NBC, Telemundo, Universal, Peacock and Sky; and own and operate Universal theme parks. We operate two primary businesses: • Connectivity & Platforms: Contains our broadband, wireless, video and wireline voice businesses in the United States, United Kingdom and Italy (collectively, the “Connectivity & Platforms markets”). Also includes the operations of our Sky-branded entertainment television networks in the United Kingdom and Italy. Our Connectivity & Platforms business is reported in two segments, Residential Connectivity…

Risk factors CMCSA lists in its 10-K

• Our businesses operate in highly competitive and dynamic industries, and our businesses and results of operations could be adversely affected if we do not compete effectively
• Changes in consumer behavior continue to adversely affect our businesses and challenge existing business models
• A decline in advertisers’ expenditures or changes in advertising markets could negatively impact our businesses
• Our success depends on consumer acceptance of our content, and our businesses may be adversely affected if our content fails to achieve sufficient consumer acceptance
• Programming expenses for our video services are increasing on a per subscriber basis, which could adversely affect our video businesses
• The loss of programming distribution agreements, or the renewal of these agreements on less favorable terms, could adversely affect our businesses
• Our businesses depend on using and protecting certain intellectual property rights and on not infringing, misappropriating or otherwise violating the intellectual property rights of others
• We may be unable to obtain necessary hardware, software and operational support
• Our businesses depend on keeping pace with technological developments
• Weak economic conditions may have a negative impact on our businesses
• Acquisitions and other strategic initiatives present many risks, and we may not realize the financial and strategic goals that we had contemplated
• We face risks relating to doing business internationally that could adversely affect our businesses
• Natural disasters, severe weather and other uncontrollable events could adversely affect our business, reputation and results of operations
• The loss of key management personnel or popular on-air and creative talent could have an adverse effect on our businesses
• Labor disputes, whether involving employees or sports organizations, may disrupt our operations and adversely affect our businesses
• If the Separation does not qualify as non-taxable, we and/or holders of our common stock could be subject to significant tax liability
• We are subject to regulation by federal, state, local and foreign authorities, which impose additional costs and restrictions on our businesses
• Unfavorable litigation or governmental investigation results could require us to pay significant amounts or lead to onerous operating procedures

Filings

Other Communication Services companies