Comcast (CCZ) Financials

$65.95 +1.44 (+2.23%)

As of 11:13 AM Eastern

Annual Income Statements for Comcast

This table shows Comcast's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	8,163	8,678	22,735	11,731	13,057	10,534	14,159	5,370	15,388	16,192	19,998
Consolidated Net Income / (Loss)	8,413	9,028	22,922	11,862	13,323	10,701	13,833	4,925	15,107	15,877	19,660
Net Income / (Loss) Continuing Operations	8,413	9,028	22,922	11,862	13,323	10,701	13,834	4,925	15,107	15,877	19,660
Total Pre-Tax Income	13,372	14,326	15,353	15,242	16,996	14,065	19,093	9,284	20,478	18,673	25,766
Total Operating Income	15,998	16,831	18,018	19,009	21,125	17,493	20,817	14,041	23,314	23,297	20,672
Total Gross Profit	51,960	56,388	59,674	64,815	74,502	70,443	77,935	83,214	84,810	86,705	88,756
Total Revenue	74,510	80,736	85,029	94,507	108,942	103,564	116,385	121,427	121,572	123,731	123,707
Operating Revenue	74,510	80,736	85,029	94,507	108,942	103,564	116,385	121,427	121,572	123,731	123,707
Total Cost of Revenue	22,550	24,348	25,355	29,692	34,440	33,121	38,450	38,213	36,762	37,026	34,951
Operating Cost of Revenue	22,550	24,348	25,355	29,692	34,440	33,121	38,450	38,213	36,762	37,026	34,951
Total Operating Expenses	35,962	39,557	41,656	45,806	53,377	52,950	57,118	69,173	61,497	63,407	68,086
Selling, General & Admin Expense	21,325	23,840	25,449	28,094	32,807	33,109	35,619	38,263	39,190	40,533	43,013
Marketing Expense	5,957	6,291	6,519	7,036	7,617	6,741	7,695	8,506	7,971	8,073	8,862
Depreciation Expense	6,781	7,464	7,914	8,281	8,663	8,320	8,628	8,724	8,854	8,729	9,327
Amortization Expense	1,899	1,962	2,216	2,736	4,290	4,780	5,176	5,097	5,482	6,072	6,884
Total Other Income / (Expense), net	-2,626	-2,505	-2,665	-3,767	-4,129	-3,428	-1,724	-4,757	-2,835	-4,624	5,094
Interest Expense	2,702	2,942	3,086	3,542	4,567	4,588	4,281	3,896	4,087	4,134	4,409
Other Income / (Expense), net	-5.00	437	421	-225	438	1,160	2,557	-861	1,252	-490	9,503
Income Tax Expense	4,959	5,298	-7,569	3,380	3,673	3,364	5,259	4,359	5,371	2,796	6,106
Net Income / (Loss) Attributable to Noncontrolling Interest	250	350	187	131	266	167	-325	-445	-282	-315	-338
Basic Earnings per Share	$1.64	$1.80	$4.83	$2.56	$2.87	$2.30	$3.09	$1.22	$3.73	$4.17	$5.41
Weighted Average Basic Shares Outstanding	2.44B	4.82B	4.71B	4.58B	4.55B	4.58B	4.53B	4.22B	3.97B	3.78B	3.60B
Diluted Earnings per Share	$1.62	$1.78	$4.75	$2.53	$2.83	$2.28	$3.04	$1.21	$3.71	$4.14	$5.39
Weighted Average Diluted Shares Outstanding	2.44B	4.82B	4.71B	4.58B	4.55B	4.58B	4.53B	4.22B	3.97B	3.78B	3.60B
Weighted Average Basic & Diluted Shares Outstanding	2.44B	4.82B	4.71B	4.58B	4.55B	4.58B	4.53B	4.22B	3.97B	3.78B	3.60B
Cash Dividends to Common per Share	$0.50	$0.55	$0.63	$0.76	$0.84	$0.92	$1.00	$1.08	$1.16	$1.24	$1.32

This table shows Comcast's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	4,046	3,260	3,857	3,929	3,629	4,777	3,375	11,123	3,332	2,168	2,174
Consolidated Net Income / (Loss)	3,997	3,154	3,777	3,839	3,576	4,685	3,296	11,044	3,249	2,071	2,027
Net Income / (Loss) Continuing Operations	3,997	3,154	3,777	3,839	3,576	4,685	3,296	11,044	3,250	2,070	2,027
Total Pre-Tax Income	5,465	4,044	5,105	5,175	4,819	3,574	4,492	14,647	4,468	2,159	2,733
Total Operating Income	6,475	4,484	5,810	6,635	5,859	4,993	5,658	5,992	5,534	3,488	4,135
Total Gross Profit	21,463	20,996	21,235	21,727	21,854	21,889	21,472	22,737	22,543	22,004	20,573
Total Revenue	30,115	31,253	30,058	29,688	32,070	31,915	29,887	30,313	31,198	32,309	31,457
Operating Revenue	30,115	31,253	30,058	29,688	32,070	31,915	29,887	30,313	31,198	32,309	31,457
Total Cost of Revenue	8,652	10,257	8,823	7,961	10,216	10,026	8,415	7,576	8,655	10,305	10,884
Operating Cost of Revenue	8,652	10,257	8,823	7,961	10,216	10,026	8,415	7,576	8,655	10,305	10,884
Total Operating Expenses	14,988	16,513	15,426	15,092	15,995	16,894	15,813	16,744	17,010	18,519	16,438
Selling, General & Admin Expense	9,629	10,943	9,857	9,630	10,128	10,918	9,893	10,422	10,795	11,903	10,408
Marketing Expense	1,866	2,042	2,018	1,922	1,989	2,144	2,071	2,168	2,196	2,427	2,164
Depreciation Expense	2,203	2,192	2,175	2,153	2,219	2,182	2,231	2,349	2,353	2,394	2,333
Amortization Expense	1,290	1,336	1,376	1,387	1,659	1,650	1,618	1,805	1,666	1,795	1,533
Total Other Income / (Expense), net	-1,010	-439	-704	-1,460	-1,040	-1,420	-1,166	8,655	-1,067	-1,328	-1,403
Interest Expense	1,060	1,019	1,002	1,026	1,037	1,069	1,050	1,105	1,128	1,126	1,094
Other Income / (Expense), net	50	580	298	-434	-3.00	-351	-116	9,760	61	-202	-309
Income Tax Expense	1,468	890	1,328	1,336	1,243	-1,111	1,196	3,603	1,218	89	706
Net Income / (Loss) Attributable to Noncontrolling Interest	-49	-107	-79	-89	-53	-94	-79	-79	-83	-97	-147
Basic Earnings per Share	$0.98	$0.82	$0.97	$1.01	$0.94	$1.25	$0.90	$2.99	$0.91	$0.61	$0.60
Weighted Average Basic Shares Outstanding	4.03B	3.97B	3.92B	3.87B	3.83B	3.78B	3.73B	3.69B	3.64B	3.60B	3.57B
Diluted Earnings per Share	$0.98	$0.80	$0.97	$1.00	$0.94	$1.23	$0.89	$2.98	$0.90	$0.62	$0.60
Weighted Average Diluted Shares Outstanding	4.03B	3.97B	3.92B	3.87B	3.83B	3.78B	3.73B	3.69B	3.64B	3.60B	3.57B
Weighted Average Basic & Diluted Shares Outstanding	4.03B	3.97B	3.92B	3.87B	3.83B	3.78B	3.73B	3.69B	3.64B	3.60B	3.57B
Cash Dividends to Common per Share	$0.29	$0.29	$0.31	$0.31	-	$0.31	$0.33	$0.33	-	-	$0.33

This table details how cash moves in and out of Comcast's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-1,615	1,559	156	583	1,680	6,179	-2,989	-3,997	1,500	1,095	3,182
Net Cash From Operating Activities	19,485	24,588	21,261	24,297	25,697	24,737	29,146	26,413	28,501	27,673	33,643
Net Cash From Continuing Operating Activities	19,485	24,588	21,261	24,297	25,697	24,737	29,147	26,413	28,501	27,674	33,644
Net Income / (Loss) Continuing Operations	8,413	13,510	22,922	11,862	13,323	10,701	13,833	4,925	15,107	15,877	19,660
Consolidated Net Income / (Loss)	8,413	13,510	22,922	11,862	13,323	10,701	13,833	4,925	15,107	15,877	19,660
Depreciation Expense	8,680	11,231	9,688	10,676	12,953	13,100	13,804	13,821	14,336	14,802	16,210
Non-Cash Adjustments To Reconcile Net Income	648	976	632	1,371	1,418	920	486	11,405	789	2,840	-7,077
Changes in Operating Assets and Liabilities, net	1,744	-1,129	-11,981	388	-1,997	16	1,024	-3,738	-1,731	-5,845	4,851
Net Cash From Investing Activities	-11,964	-20,498	-13,533	-50,854	-14,841	-12,047	-13,446	-14,140	-7,161	-15,670	-16,157
Net Cash From Continuing Investing Activities	-11,964	-20,498	-13,533	-50,854	-14,841	-12,047	-13,446	-14,140	-7,161	-15,670	-16,158
Purchase of Property, Plant & Equipment	-8,499	-10,587	-9,550	-9,774	-9,953	-9,179	-9,174	-10,626	-12,242	-12,181	-11,750
Acquisitions	-3,334	-6,397	-2,555	-40,154	-2,845	-2,688	-4,257	-3,141	-3,298	-3,068	-3,964
Purchase of Investments	-784	-1,987	-2,292	-1,257	-1,899	-812	-174	-2,274	-1,313	-1,082	-1,302
Divestitures	433	327	150	141	886	2,339	684	1,985	661	771	670
Other Investing Activities, net	220	-1,854	714	190	-1,030	-1,707	-525	-84	9,031	-110	188
Net Cash From Financing Activities	-9,136	-2,531	-7,572	27,140	-9,181	-6,513	-18,618	-16,184	-19,850	-10,883	-14,346
Net Cash From Continuing Financing Activities	-9,136	-1,643	-7,572	27,140	-9,181	-6,513	-18,618	-16,185	-19,850	-10,883	-14,345
Repayment of Debt	-4,243	-2,691	-8,269	-9,348	-15,596	-20,483	-12,042	-861	-9,845	-3,234	-5,790
Repurchase of Common Equity	-7,175	-5,352	-5,435	-5,320	-504	-534	-4,672	-13,328	-11,291	-9,103	-7,155
Payment of Dividends	-2,669	-2,854	-5,434	-3,352	-3,735	-4,140	-4,532	-4,741	-4,766	-4,814	-4,894
Issuance of Debt	5,486	9,231	11,566	45,160	5,479	18,644	2,628	2,745	6,052	6,268	3,494
Effect of Exchange Rate Changes	-	0.00	-	-	5.00	2.00	-71	-86	9.00	-26	42

This table details how cash moves in and out of Comcast's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-713	-207	304	-445	2,737	-1,501	1,275	1,096	-377	1,188	-1,042
Net Cash From Operating Activities	8,153	5,922	7,848	4,724	7,021	8,080	8,294	7,815	8,693	8,841	6,891
Net Cash From Continuing Operating Activities	8,152	5,922	7,847	4,725	7,022	8,080	8,295	7,813	8,693	8,843	6,891
Net Income / (Loss) Continuing Operations	3,997	3,153	3,777	3,839	3,576	4,685	3,296	11,044	3,250	2,070	2,027
Consolidated Net Income / (Loss)	3,997	3,153	3,777	3,839	3,576	4,685	3,296	11,044	3,250	2,070	2,027
Depreciation Expense	3,492	3,529	3,551	3,540	3,878	3,833	3,849	4,154	4,020	4,187	3,865
Non-Cash Adjustments To Reconcile Net Income	470	-135	312	986	636	906	743	-9,177	525	832	824
Changes in Operating Assets and Liabilities, net	193	-625	207	-3,640	-1,068	-1,344	407	1,792	898	1,754	175
Net Cash From Investing Activities	-4,190	4,557	-3,511	-3,368	-3,680	-5,111	-2,958	-4,945	-3,817	-4,437	-2,919
Net Cash From Continuing Investing Activities	-4,192	4,557	-3,512	-3,368	-3,678	-5,112	-2,959	-4,944	-3,816	-4,439	-2,919
Purchase of Property, Plant & Equipment	-3,295	-3,320	-2,630	-2,724	-2,913	-3,914	-2,252	-2,678	-3,071	-3,749	-2,351
Acquisitions	-828	-893	-679	-662	-702	-906	-622	-1,914	-677	-751	-639
Purchase of Investments	-356	-364	-404	-302	-228	-148	-145	-987	-94	-76	-237
Divestitures	41	251	274	283	132	82	43	616	-15	26	32
Other Investing Activities, net	246	8,883	-73	37	33	-226	17	19	41	111	276
Net Cash From Financing Activities	-4,644	-10,714	-4,023	-1,794	-642	-4,424	-4,075	-1,806	-5,243	-3,222	-5,008
Net Cash From Continuing Financing Activities	-4,646	-10,713	-4,023	-1,795	-641	-4,424	-4,076	-1,805	-5,243	-3,221	-5,008
Repayment of Debt	94	-6,018	-192	-1,544	-447	-1,051	-612	-1,235	-2,468	-1,475	-3,498
Repurchase of Common Equity	-3,543	-3,521	-2,664	-2,266	-1,990	-2,183	-2,240	-1,826	-1,552	-1,537	-1,502
Payment of Dividends	-1,199	-1,180	-1,193	-1,225	-1,206	-1,190	-1,224	-1,238	-1,223	-1,209	-1,248
Issuance of Debt	2.00	6.00	26	3,240	3,002	-	0.00	2,494	-	1,000	1,990
Other Financing Activities, net	-	-	-	-	-	-	0.00	-	-	-	-750
Effect of Exchange Rate Changes	-32	27	-10	-7.00	38	-47	14	32	-11	7.00	-6.00

This table presents Comcast's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	166,574	114,663	115,967	251,684	263,414	273,869	275,905	257,275	264,811	266,211	272,631
Total Current Assets	12,303	1,772	0.00	21,848	25,392	26,741	24,807	21,826	23,987	26,801	29,567
Cash & Equivalents	2,295	-	-	3,814	5,500	11,740	8,711	4,749	6,215	7,322	9,481
Accounts Receivable	6,896	-	-	11,104	11,292	11,466	12,008	12,672	13,813	13,661	13,869
Other Current Assets	1,899	1,772	-	3,184	4,723	3,535	4,088	4,406	3,959	5,817	6,217
Plant, Property, & Equipment, net	33,665	36,253	38,470	44,437	48,322	51,995	54,047	55,485	59,686	62,548	65,680
Total Noncurrent Assets	114,751	76,638	77,497	185,399	189,700	195,133	197,051	179,964	181,138	176,862	177,384
Long-Term Investments	3,224	-	-	7,883	7,683	7,820	8,082	7,740	9,385	8,647	7,952
Goodwill	32,945	-	-	66,154	68,725	70,669	70,189	58,494	59,268	58,209	61,502
Intangible Assets	76,310	76,638	77,497	105,560	104,426	94,754	92,945	101,233	87,232	84,964	94,053
Other Noncurrent Operating Assets	2,272	-	-	5,802	8,866	21,890	25,835	12,497	25,253	25,042	13,877
Total Liabilities & Shareholders' Equity	166,574	101,953	80,431	251,684	263,414	273,869	275,905	257,275	264,811	266,211	272,631
Total Liabilities	111,375	45,779	10,972	177,866	178,168	180,851	177,897	175,236	181,344	179,936	175,256
Total Current Liabilities	18,178	0.00	0.00	27,603	30,292	28,796	29,348	27,887	40,198	39,581	33,524
Short-Term Debt	3,627	-	-	4,398	4,452	3,146	2,132	1,743	2,069	4,907	5,958
Accounts Payable	6,215	-	-	8,494	10,826	11,364	12,455	12,544	12,437	11,321	11,058
Accrued Expenses	7,034	-	-	12,529	12,246	11,323	11,721	11,220	13,284	10,679	12,410
Current Deferred Revenue	1,302	-	-	2,182	2,768	2,963	3,040	2,380	3,242	3,507	4,097
Total Noncurrent Liabilities	93,197	45,779	10,972	150,263	147,876	152,055	148,549	147,349	141,146	140,355	141,732
Long-Term Debt	48,994	-	-	107,345	97,765	100,614	92,718	93,068	95,021	94,186	92,979
Noncurrent Deferred & Payable Income Tax Liabilities	33,566	34,854	-	27,589	28,180	28,051	30,041	28,714	26,003	25,227	27,788
Other Noncurrent Operating Liabilities	10,637	10,925	10,972	15,329	21,931	23,390	25,790	25,567	20,122	20,942	20,965
Commitments & Contingencies	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	1,221	-	-	1,316	1,372	1,280	519	411	241	237	224
Total Equity & Noncontrolling Interests	53,978	56,174	69,459	72,502	83,874	91,738	97,490	81,627	83,226	86,038	97,151
Total Preferred & Common Equity	52,269	53,943	68,616	71,613	82,726	90,323	96,092	80,943	82,703	85,560	96,903
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	52,269	53,789	68,182	71,613	82,726	90,269	96,092	80,944	82,655	85,561	96,904
Common Stock	38,547	38,230	37,497	37,515	38,501	39,464	40,227	39,463	38,533	38,149	37,754
Retained Earnings	21,413	23,076	38,202	41,983	50,695	56,438	61,902	51,609	52,892	56,972	66,675
Treasury Stock	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517
Accumulated Other Comprehensive Income / (Loss)	-174	-	-	-368	1,047	1,884	1,480	-2,611	-1,253	-2,043	-8.00
Noncontrolling Interest	1,709	2,231	843	889	1,148	1,415	1,398	684	523	477	249

This table presents Comcast's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	262,147	261,072	264,811	263,601	262,555	269,871	266,211	267,770	273,850	272,995	260,002
Total Current Assets	24,922	24,141	23,987	23,978	23,452	27,186	26,801	27,314	29,036	28,857	28,822
Cash & Equivalents	7,146	6,435	6,215	6,515	6,065	8,814	7,322	8,593	9,687	9,325	9,468
Accounts Receivable	12,980	12,835	13,813	13,144	13,167	14,036	13,661	12,881	13,040	13,214	14,078
Other Current Assets	4,796	4,870	3,959	4,319	4,220	4,336	5,817	5,840	6,309	6,319	5,275
Plant, Property, & Equipment, net	56,851	58,165	59,686	59,918	60,507	61,775	62,548	63,292	64,025	64,773	65,472
Total Noncurrent Assets	180,373	178,767	181,138	179,705	178,596	180,911	176,862	177,164	180,789	179,365	165,708
Long-Term Investments	7,761	8,041	9,385	9,548	9,171	9,021	8,647	8,524	8,463	8,324	7,450
Goodwill	59,042	58,069	59,268	58,668	58,376	60,076	58,209	59,094	61,812	61,406	53,374
Intangible Assets	100,767	87,235	87,232	99,185	98,581	99,128	97,505	97,082	83,977	95,703	90,830
Other Noncurrent Operating Assets	12,803	25,422	25,253	12,304	12,468	12,686	12,501	12,464	26,537	13,932	14,054
Total Liabilities & Shareholders' Equity	262,147	261,072	264,811	263,601	262,555	269,871	266,211	267,770	273,850	272,995	260,002
Total Liabilities	177,229	177,679	181,344	180,308	178,615	183,329	179,936	180,470	176,392	175,359	171,461
Total Current Liabilities	32,925	34,468	40,198	40,324	35,342	37,786	39,581	42,325	31,792	32,702	33,308
Short-Term Debt	2,524	2,978	2,069	2,502	1,021	2,610	4,907	6,848	5,720	5,852	5,394
Accounts Payable	12,213	12,214	12,437	11,792	11,736	11,779	11,321	11,545	11,826	11,689	11,977
Accrued Expenses	9,688	10,536	13,284	13,417	9,475	10,453	10,679	11,000	10,215	10,942	11,932
Current Deferred Revenue	3,327	3,566	3,242	3,446	3,943	3,778	3,507	3,766	4,031	4,218	4,006
Total Noncurrent Liabilities	144,304	143,211	141,146	139,984	143,273	145,543	140,355	138,145	144,600	142,657	138,153
Long-Term Debt	94,972	94,351	95,021	94,071	97,107	98,754	94,186	92,274	95,808	93,211	89,218
Noncurrent Deferred & Payable Income Tax Liabilities	29,052	29,092	26,003	25,978	26,252	26,263	25,227	25,136	27,692	28,357	28,227
Other Noncurrent Operating Liabilities	20,280	19,768	20,122	19,935	19,914	20,526	20,942	20,735	21,100	21,089	20,708
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	239	230	241	243	236	224	237	244	231	220	205
Total Equity & Noncontrolling Interests	84,679	83,163	83,226	83,049	83,704	86,318	86,038	87,056	97,228	97,416	88,335
Total Preferred & Common Equity	84,119	82,625	82,703	82,549	83,219	85,774	85,560	86,638	96,851	97,081	88,274
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	84,119	82,624	82,655	82,550	83,219	85,774	85,561	86,637	96,851	97,081	88,274
Common Stock	39,168	38,915	38,533	38,322	38,250	38,194	38,149	37,878	37,843	37,813	37,588
Retained Earnings	53,900	53,751	52,892	53,425	54,308	55,105	56,972	57,473	66,000	66,875	58,602
Treasury Stock	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517
Accumulated Other Comprehensive Income / (Loss)	-1,432	-2,525	-1,253	-1,680	-1,822	-8.00	-2,043	-1,197	525	-90	-399
Noncontrolling Interest	559	538	523	500	485	544	477	418	376	335	61

This table displays calculated financial ratios and metrics derived from Comcast's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.34%	8.36%	5.32%	11.15%	15.27%	-4.94%	12.38%	4.33%	0.12%	1.78%	-0.02%
EBITDA Growth	8.19%	15.51%	-1.31%	4.74%	17.16%	-8.01%	17.09%	-27.37%	44.08%	-3.32%	23.33%
EBIT Growth	8.16%	7.97%	6.78%	1.87%	14.79%	-13.50%	25.31%	-43.61%	86.39%	-7.16%	32.31%
NOPAT Growth	-2.03%	5.38%	153.62%	-45.01%	11.94%	-19.63%	13.33%	-50.62%	130.91%	15.17%	-20.37%
Net Income Growth	-2.08%	7.31%	153.90%	-48.25%	12.32%	-19.68%	29.27%	-64.40%	206.74%	5.10%	23.83%
EPS Growth	-2.08%	7.31%	166.85%	-46.74%	11.86%	-19.43%	33.33%	-60.20%	206.61%	11.59%	30.19%
Operating Cash Flow Growth	14.99%	26.19%	-13.53%	14.28%	5.76%	-3.74%	17.82%	-9.38%	7.91%	-2.91%	21.57%
Free Cash Flow Firm Growth	-317.18%	270.70%	-124.92%	-487.13%	129.85%	-35.76%	56.55%	17.96%	-13.30%	-7.46%	-59.06%
Invested Capital Growth	49.93%	-27.67%	52.42%	65.59%	0.24%	1.69%	-0.65%	-6.65%	0.36%	2.69%	5.60%
Revenue Q/Q Growth	2.07%	2.69%	0.85%	6.50%	0.51%	-0.66%	2.31%	0.18%	0.58%	0.54%	0.32%
EBITDA Q/Q Growth	1.16%	10.41%	-1.98%	6.25%	2.85%	1.15%	-0.33%	-1.72%	1.24%	-0.31%	-2.11%
EBIT Q/Q Growth	0.65%	4.78%	-1.97%	-0.29%	4.75%	1.56%	-1.91%	-2.68%	1.74%	-1.82%	-4.30%
NOPAT Q/Q Growth	1.27%	1.81%	125.68%	-49.01%	2.29%	-7.35%	4.01%	-1.89%	-0.17%	15.99%	-13.21%
Net Income Q/Q Growth	0.72%	3.96%	123.17%	-51.25%	4.86%	2.26%	-3.20%	-2.13%	1.90%	10.67%	-11.74%
EPS Q/Q Growth	0.72%	3.96%	121.96%	-52.44%	3.66%	2.24%	-1.94%	4.31%	2.20%	11.59%	-10.17%
Operating Cash Flow Q/Q Growth	5.58%	25.06%	-33.62%	32.49%	1.76%	-4.60%	9.99%	-6.40%	0.14%	8.46%	2.31%
Free Cash Flow Firm Q/Q Growth	-164.36%	345.86%	-111.71%	29.21%	133.61%	-6.93%	22.35%	-8.30%	41.18%	15.95%	-31.57%
Invested Capital Q/Q Growth	47.41%	3.22%	0.00%	64.95%	2.75%	2.53%	1.14%	2.23%	-0.78%	-0.40%	-0.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	69.74%	69.84%	70.18%	68.58%	68.39%	68.02%	66.96%	68.53%	69.76%	70.08%	71.75%
EBITDA Margin	33.11%	35.30%	33.08%	31.17%	31.68%	30.66%	31.94%	22.24%	32.00%	30.40%	37.50%
Operating Margin	21.47%	20.85%	21.19%	20.11%	19.39%	16.89%	17.89%	11.56%	19.18%	18.83%	16.71%
EBIT Margin	21.46%	21.39%	21.69%	19.88%	19.79%	18.01%	20.08%	10.85%	20.21%	18.43%	24.39%
Profit (Net Income) Margin	11.29%	11.18%	26.96%	12.55%	12.23%	10.33%	11.89%	4.06%	12.43%	12.83%	15.89%
Tax Burden Percent	62.92%	63.02%	149.30%	77.82%	78.39%	76.08%	72.45%	53.05%	73.77%	85.03%	76.30%
Interest Burden Percent	83.61%	82.96%	83.26%	81.14%	78.82%	75.40%	81.68%	70.44%	83.36%	81.87%	85.39%
Effective Tax Rate	37.09%	36.98%	-49.30%	22.18%	21.61%	23.92%	27.54%	46.95%	26.23%	14.97%	23.70%
Return on Invested Capital (ROIC)	12.68%	12.93%	30.94%	10.61%	9.51%	7.57%	8.54%	4.38%	10.45%	11.85%	9.06%
ROIC Less NNEP Spread (ROIC-NNEP)	6.14%	6.94%	14.45%	6.29%	6.09%	4.56%	7.00%	1.23%	7.89%	7.07%	13.78%
Return on Net Nonoperating Assets (RNNOA)	2.86%	3.29%	5.55%	5.95%	7.24%	4.43%	5.94%	1.09%	7.81%	6.86%	12.35%
Return on Equity (ROE)	15.54%	16.21%	36.49%	16.56%	16.75%	12.01%	14.48%	5.47%	18.26%	18.71%	21.41%
Cash Return on Invested Capital (CROIC)	-27.27%	45.04%	-10.59%	-38.78%	9.27%	5.90%	9.19%	11.25%	10.08%	9.19%	3.61%
Operating Return on Assets (OROA)	11.65%	12.28%	15.99%	10.22%	8.37%	6.94%	8.50%	4.94%	9.41%	8.59%	11.20%
Return on Assets (ROA)	6.13%	6.42%	19.88%	6.45%	5.17%	3.98%	5.03%	1.85%	5.79%	5.98%	7.30%
Return on Common Equity (ROCE)	15.09%	15.44%	35.43%	16.16%	16.25%	11.65%	14.13%	5.38%	18.05%	18.54%	21.27%
Return on Equity Simple (ROE_SIMPLE)	16.10%	16.74%	33.41%	16.56%	16.11%	11.85%	14.40%	6.08%	18.27%	18.56%	0.00%
Net Operating Profit after Tax (NOPAT)	10,065	10,607	26,901	14,794	16,560	13,309	15,083	7,449	17,199	19,809	15,773
NOPAT Margin	13.51%	13.14%	31.64%	15.65%	15.20%	12.85%	12.96%	6.13%	14.15%	16.01%	12.75%
Net Nonoperating Expense Percent (NNEP)	6.55%	5.99%	16.49%	4.32%	3.42%	3.01%	1.54%	3.15%	2.55%	4.78%	-4.72%
Return On Investment Capital (ROIC_SIMPLE)	9.44%	18.88%	38.73%	8.03%	8.90%	6.81%	7.84%	4.22%	9.54%	10.70%	8.04%
Cost of Revenue to Revenue	30.26%	30.16%	29.82%	31.42%	31.61%	31.98%	33.04%	31.47%	30.24%	29.92%	28.25%
SG&A Expenses to Revenue	28.62%	29.53%	29.93%	29.73%	30.11%	31.97%	30.60%	31.51%	32.24%	32.76%	34.77%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	48.26%	49.00%	48.99%	48.47%	49.00%	51.13%	49.08%	56.97%	50.58%	51.25%	55.04%
Earnings before Interest and Taxes (EBIT)	15,993	17,268	18,439	18,784	21,563	18,653	23,374	13,180	24,566	22,807	30,175
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	24,673	28,499	28,127	29,460	34,516	31,753	37,178	27,001	38,902	37,609	46,385
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.08	1.27	2.31	1.87	2.16	2.38	2.18	1.75	2.06	1.66	1.04
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.76	0.85	1.85	1.41	1.64	2.07	1.80	1.16	1.40	1.15	0.82
Price to Earnings (P/E)	6.90	7.90	6.92	11.39	13.72	20.37	14.80	26.33	11.04	8.80	5.05
Dividend Yield	4.25%	3.84%	2.22%	2.59%	2.08%	1.92%	2.14%	3.24%	2.70%	4.06%	4.69%
Earnings Yield	14.49%	12.66%	14.46%	8.78%	7.29%	4.91%	6.76%	3.80%	9.06%	11.37%	19.79%
Enterprise Value to Invested Capital (EV/IC)	1.12	1.03	1.51	1.36	1.55	1.70	1.64	1.37	1.53	1.34	1.02
Enterprise Value to Revenue (EV/Rev)	1.43	0.88	1.86	2.50	2.48	2.91	2.49	1.85	2.07	1.83	1.48
Enterprise Value to EBITDA (EV/EBITDA)	4.31	2.48	5.62	8.01	7.84	9.49	7.79	8.33	6.48	6.02	3.95
Enterprise Value to EBIT (EV/EBIT)	6.65	4.10	8.57	12.56	12.55	16.16	12.39	17.06	10.27	9.92	6.07
Enterprise Value to NOPAT (EV/NOPAT)	10.57	6.67	5.88	15.94	16.34	22.65	19.19	30.18	14.66	11.42	11.60
Enterprise Value to Operating Cash Flow (EV/OCF)	5.46	2.88	7.44	9.71	10.53	12.19	9.93	8.51	8.85	8.18	5.44
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	1.92	0.00	0.00	16.76	29.07	17.83	11.74	15.19	14.72	29.10
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.95	0.00	0.00	1.51	1.20	1.12	0.97	1.16	1.16	1.15	1.02
Long-Term Debt to Equity	0.89	0.00	0.00	1.45	1.15	1.08	0.95	1.13	1.14	1.09	0.95
Financial Leverage	0.47	0.47	0.38	0.95	1.19	0.97	0.85	0.89	0.99	0.97	0.90
Leverage Ratio	2.54	2.53	1.84	2.57	3.24	3.01	2.88	2.96	3.15	3.13	2.93
Compound Leverage Factor	2.12	2.10	1.53	2.08	2.55	2.27	2.35	2.09	2.63	2.56	2.51
Debt to Total Capital	48.80%	0.00%	0.00%	60.22%	54.53%	52.73%	49.18%	53.61%	53.77%	53.46%	50.40%
Short-Term Debt to Total Capital	3.36%	0.00%	0.00%	2.37%	2.37%	1.60%	1.11%	0.99%	1.15%	2.65%	3.04%
Long-Term Debt to Total Capital	45.44%	0.00%	0.00%	57.85%	52.15%	51.13%	48.08%	52.63%	52.63%	50.81%	47.36%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	2.72%	3.97%	1.21%	1.19%	1.34%	1.37%	0.99%	0.62%	0.42%	0.39%	0.24%
Common Equity to Total Capital	48.48%	95.75%	98.16%	38.59%	44.13%	45.87%	49.83%	45.77%	45.78%	46.16%	49.36%
Debt to EBITDA	2.13	0.00	0.00	3.79	2.96	3.27	2.55	3.51	2.50	2.63	2.13
Net Debt to EBITDA	1.91	0.00	0.00	3.40	2.58	2.65	2.10	3.05	2.09	2.21	1.76
Long-Term Debt to EBITDA	1.99	0.00	0.00	3.64	2.83	3.17	2.49	3.45	2.44	2.50	2.00
Debt to NOPAT	5.23	0.00	0.00	7.55	6.17	7.80	6.29	12.73	5.65	5.00	6.27
Net Debt to NOPAT	4.68	0.00	0.00	6.76	5.38	6.33	5.18	11.05	4.74	4.20	5.17
Long-Term Debt to NOPAT	4.87	0.00	0.00	7.26	5.90	7.56	6.15	12.49	5.52	4.75	5.89
Altman Z-Score	1.21	2.40	10.32	1.28	1.53	1.59	1.70	1.38	1.53	1.46	1.49
Noncontrolling Interest Sharing Ratio	2.93%	4.77%	2.91%	2.43%	2.97%	2.96%	2.44%	1.67%	1.15%	0.90%	0.65%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.68	0.00	0.00	0.79	0.84	0.93	0.85	0.78	0.60	0.68	0.88
Quick Ratio	0.51	0.00	0.00	0.54	0.55	0.81	0.71	0.62	0.50	0.53	0.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-21,649	36,956	-9,210	-54,075	16,144	10,371	16,236	19,152	16,605	15,367	6,291
Operating Cash Flow to CapEx	229.26%	232.25%	222.63%	248.59%	258.18%	269.50%	317.70%	248.57%	232.81%	227.18%	286.32%
Free Cash Flow to Firm to Interest Expense	-8.01	12.56	-2.98	-15.27	3.53	2.26	3.79	4.92	4.06	3.72	1.43
Operating Cash Flow to Interest Expense	7.21	8.36	6.89	6.86	5.63	5.39	6.81	6.78	6.97	6.69	7.63
Operating Cash Flow Less CapEx to Interest Expense	4.07	4.76	3.79	4.10	3.45	3.39	4.67	4.05	3.98	3.75	4.97
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.54	0.57	0.74	0.51	0.42	0.39	0.42	0.46	0.47	0.47	0.46
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	9.73	9.10	9.92	9.84	9.18	9.01	8.99
Inventory Turnover	0.00	0.00	0.00	0.00	9.04	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	2.31	2.31	2.28	2.28	2.35	2.06	2.20	2.22	2.11	2.02	1.93
Accounts Payable Turnover	0.00	0.00	0.00	0.00	3.57	2.99	3.23	3.06	2.94	3.12	3.12
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	37.52	40.10	36.81	37.09	39.76	40.52	40.61
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	40.39	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	102.38	122.27	113.06	119.39	124.01	117.10	116.85
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	-24.47	-82.17	-76.25	-82.30	-84.26	-76.58	-76.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	95,233	68,884	104,995	173,864	174,280	177,218	176,065	164,362	164,956	169,398	178,880
Invested Capital Turnover	0.94	0.98	0.98	0.68	0.63	0.59	0.66	0.71	0.74	0.74	0.71
Increase / (Decrease) in Invested Capital	31,714	-26,349	36,111	68,869	416	2,938	-1,153	-11,703	594	4,442	9,482
Enterprise Value (EV)	106,350	70,776	158,093	235,862	270,640	301,470	289,489	224,818	252,175	226,251	183,046
Market Capitalization	56,318	68,545	157,250	133,611	179,086	214,575	209,515	141,401	169,921	142,413	101,069
Book Value per Share	$21.27	$22.48	$14.59	$15.74	$18.18	$19.73	$21.03	$18.72	$20.54	$22.36	$26.59
Tangible Book Value per Share	($23.19)	($9.55)	($1.99)	($22.00)	($19.88)	($16.43)	($14.67)	($18.22)	($15.86)	($18.33)	($16.10)
Total Capital	107,820	56,174	69,459	185,561	187,463	196,778	192,859	176,849	180,557	185,368	196,312
Total Debt	52,621	0.00	0.00	111,743	102,217	103,760	94,850	94,811	97,090	99,093	98,937
Total Long-Term Debt	48,994	0.00	0.00	107,345	97,765	100,614	92,718	93,068	95,021	94,186	92,979
Net Debt	47,102	0.00	0.00	100,046	89,034	84,200	78,057	82,322	81,490	83,124	81,504
Capital Expenditures (CapEx)	8,499	10,587	9,550	9,774	9,953	9,179	9,174	10,626	12,242	12,181	11,750
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4,543	1,772	0.00	-5,171	-5,948	-10,649	-11,120	-9,067	-20,357	-15,195	-7,480
Debt-free Net Working Capital (DFNWC)	-2,248	1,772	0.00	-1,357	-448	1,091	-2,409	-4,318	-14,142	-7,873	2,001
Net Working Capital (NWC)	-5,875	1,772	0.00	-5,755	-4,900	-2,055	-4,541	-6,061	-16,211	-12,780	-3,957
Net Nonoperating Expense (NNE)	1,652	1,579	3,979	2,932	3,237	2,608	1,250	2,524	2,092	3,932	-3,887
Net Nonoperating Obligations (NNO)	40,034	12,710	35,536	100,046	89,034	84,200	78,056	82,324	81,489	83,123	81,505
Total Depreciation and Amortization (D&A)	8,680	11,231	9,688	10,676	12,953	13,100	13,804	13,821	14,336	14,802	16,210
Debt-free, Cash-free Net Working Capital to Revenue	-6.10%	2.19%	0.00%	-5.47%	-5.46%	-10.28%	-9.55%	-7.47%	-16.74%	-12.28%	-6.05%
Debt-free Net Working Capital to Revenue	-3.02%	2.19%	0.00%	-1.44%	-0.41%	1.05%	-2.07%	-3.56%	-11.63%	-6.36%	1.62%
Net Working Capital to Revenue	-7.88%	2.19%	0.00%	-6.09%	-4.50%	-1.98%	-3.90%	-4.99%	-13.33%	-10.33%	-3.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.28	$3.61	$4.82	$2.56	$2.87	$2.30	$3.09	$1.22	$3.73	$4.17	$5.41
Adjusted Weighted Average Basic Shares Outstanding	2.44B	2.38B	4.64B	4.53B	4.55B	4.58B	4.53B	4.22B	3.97B	3.78B	3.60B
Adjusted Diluted Earnings per Share	$3.24	$3.57	$4.75	$2.53	$2.83	$2.28	$3.04	$1.21	$3.71	$4.14	$5.39
Adjusted Weighted Average Diluted Shares Outstanding	2.44B	2.38B	4.64B	4.53B	4.55B	4.58B	4.53B	4.22B	3.97B	3.78B	3.60B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$2.87	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.44B	2.38B	4.64B	4.53B	4.55B	4.58B	4.53B	4.22B	3.97B	3.78B	3.60B
Normalized Net Operating Profit after Tax (NOPAT)	10,065	10,607	12,303	14,528	16,560	13,309	15,083	12,002	17,199	19,809	15,773
Normalized NOPAT Margin	13.51%	13.14%	14.47%	15.37%	15.20%	12.85%	12.96%	9.88%	14.15%	16.01%	12.75%
Pre Tax Income Margin	17.95%	17.74%	18.06%	16.13%	15.60%	13.58%	16.41%	7.65%	16.84%	15.09%	20.83%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.92	5.87	5.98	5.30	4.72	4.07	5.46	3.38	6.01	5.52	6.84
NOPAT to Interest Expense	3.73	3.61	8.72	4.18	3.63	2.90	3.52	1.91	4.21	4.79	3.58
EBIT Less CapEx to Interest Expense	2.77	2.27	2.88	2.54	2.54	2.07	3.32	0.66	3.02	2.57	4.18
NOPAT Less CapEx to Interest Expense	0.58	0.01	5.62	1.42	1.45	0.90	1.38	-0.82	1.21	1.85	0.91
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.72%	31.61%	23.71%	28.26%	28.03%	38.69%	32.76%	96.26%	31.55%	30.32%	24.89%
Augmented Payout Ratio	117.01%	90.90%	47.42%	73.11%	31.82%	43.68%	66.54%	366.88%	106.29%	87.66%	61.29%

This table displays calculated financial ratios and metrics derived from Comcast's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	3,597,845,994.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	3,597,845,994.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.60
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.89%	2.29%	1.24%	-2.70%	6.49%	2.12%	-0.57%	2.11%	-2.72%	1.23%	5.25%
EBITDA Growth	1,460.28%	5.89%	-3.70%	-5.08%	-2.83%	-1.37%	-2.77%	104.35%	-1.22%	-11.82%	-18.10%
EBIT Growth	342.47%	9.07%	-2.32%	-7.78%	-10.25%	-8.33%	-9.27%	154.02%	-4.46%	-29.21%	-30.96%
NOPAT Growth	378.98%	-1.40%	5.97%	0.28%	-8.19%	87.15%	-3.42%	-8.21%	-7.41%	-48.91%	-26.13%
Net Income Growth	185.68%	9.78%	0.27%	-8.36%	-10.53%	48.54%	-12.74%	187.68%	-9.14%	-55.80%	-38.50%
EPS Growth	193.33%	11.11%	6.59%	-1.96%	-4.08%	53.75%	-8.25%	198.00%	-4.26%	-49.59%	-32.58%
Operating Cash Flow Growth	17.38%	0.66%	8.58%	-34.37%	-13.88%	36.44%	5.68%	65.43%	23.81%	9.42%	-16.92%
Free Cash Flow Firm Growth	-106.30%	-80.96%	-50.41%	-41.69%	171.58%	-27.56%	-122.07%	-269.51%	-1,047.99%	-391.84%	554.84%
Invested Capital Growth	3.40%	0.36%	-1.10%	-0.40%	2.30%	2.69%	3.36%	8.39%	5.28%	5.60%	-1.81%
Revenue Q/Q Growth	-1.30%	3.78%	-3.82%	-1.23%	8.02%	-0.48%	-6.35%	1.43%	2.92%	3.56%	-2.64%
EBITDA Q/Q Growth	-2.39%	-14.22%	12.41%	0.85%	-0.07%	-12.93%	10.81%	111.97%	-51.70%	-22.28%	2.92%
EBIT Q/Q Growth	-2.96%	-22.39%	20.62%	1.52%	-5.56%	-20.73%	19.39%	184.23%	-64.48%	-41.27%	16.43%
NOPAT Q/Q Growth	-3.51%	-26.15%	22.92%	14.50%	-11.67%	50.54%	-36.57%	8.83%	-10.90%	-16.92%	-8.29%
Net Income Q/Q Growth	-4.58%	-21.09%	19.75%	1.64%	-6.85%	31.01%	-29.65%	235.07%	-70.58%	-36.26%	-2.12%
EPS Q/Q Growth	-3.92%	-18.37%	21.25%	3.09%	-6.00%	30.85%	-27.64%	234.83%	-69.80%	-31.11%	-3.23%
Operating Cash Flow Q/Q Growth	13.27%	-27.36%	32.52%	-39.81%	48.62%	15.08%	2.65%	-5.78%	11.23%	1.70%	-22.06%
Free Cash Flow Firm Q/Q Growth	-107.61%	497.53%	110.65%	-8.50%	-90.66%	302.32%	-164.16%	-602.95%	47.76%	-23.86%	200.00%
Invested Capital Q/Q Growth	-0.75%	-0.78%	-0.70%	1.85%	1.94%	-0.40%	-0.06%	6.81%	-0.99%	-0.10%	-7.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	71.27%	67.18%	70.65%	73.18%	68.14%	68.59%	71.84%	75.01%	72.26%	68.10%	65.40%
EBITDA Margin	33.26%	27.50%	32.13%	32.81%	30.35%	26.55%	31.42%	65.67%	30.82%	23.13%	24.45%
Operating Margin	21.50%	14.35%	19.33%	22.35%	18.27%	15.64%	18.93%	19.77%	17.74%	10.80%	13.14%
EBIT Margin	21.67%	16.20%	20.32%	20.89%	18.26%	14.54%	18.54%	51.96%	17.93%	10.17%	12.16%
Profit (Net Income) Margin	13.27%	10.09%	12.57%	12.93%	11.15%	14.68%	11.03%	36.43%	10.41%	6.41%	6.44%
Tax Burden Percent	73.14%	77.99%	73.99%	74.18%	74.21%	131.09%	73.37%	75.40%	72.72%	95.92%	74.17%
Interest Burden Percent	83.75%	79.86%	83.58%	83.45%	82.29%	76.99%	81.05%	92.99%	79.86%	65.70%	71.43%
Effective Tax Rate	26.86%	22.01%	26.01%	25.82%	25.79%	-31.09%	26.63%	24.60%	27.26%	4.12%	25.83%
Return on Invested Capital (ROIC)	11.62%	8.26%	10.59%	12.01%	9.92%	15.18%	10.31%	10.65%	9.11%	7.35%	7.28%
ROIC Less NNEP Spread (ROIC-NNEP)	10.71%	7.84%	9.95%	10.70%	8.99%	12.92%	9.25%	18.50%	8.17%	5.81%	5.98%
Return on Net Nonoperating Assets (RNNOA)	10.56%	7.76%	9.70%	10.49%	8.81%	12.53%	8.81%	16.95%	7.32%	5.20%	5.43%
Return on Equity (ROE)	22.18%	16.02%	20.29%	22.50%	18.73%	27.71%	19.12%	27.60%	16.43%	12.56%	12.71%
Cash Return on Invested Capital (CROIC)	7.19%	10.08%	11.70%	10.85%	7.88%	9.19%	8.54%	2.57%	5.27%	3.61%	10.57%
Operating Return on Assets (OROA)	10.16%	7.55%	9.48%	9.64%	8.47%	6.78%	8.62%	24.06%	8.15%	4.67%	5.77%
Return on Assets (ROA)	6.23%	4.70%	5.86%	5.97%	5.17%	6.84%	5.13%	16.87%	4.73%	2.94%	3.06%
Return on Common Equity (ROCE)	21.94%	15.84%	20.07%	22.30%	18.56%	27.46%	18.96%	27.40%	16.32%	12.48%	12.64%
Return on Equity Simple (ROE_SIMPLE)	17.94%	0.00%	18.31%	17.74%	16.73%	0.00%	17.77%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	4,736	3,497	4,299	4,922	4,348	6,545	4,152	4,518	4,025	3,344	3,067
NOPAT Margin	15.73%	11.19%	14.30%	16.58%	13.56%	20.51%	13.89%	14.90%	12.90%	10.35%	9.75%
Net Nonoperating Expense Percent (NNEP)	0.91%	0.42%	0.64%	1.31%	0.93%	2.26%	1.05%	-7.85%	0.94%	1.55%	1.30%
Return On Investment Capital (ROIC_SIMPLE)	2.62%	1.94%	2.39%	2.71%	2.32%	3.54%	2.23%	2.27%	2.05%	1.71%	1.68%
Cost of Revenue to Revenue	28.73%	32.82%	29.35%	26.82%	31.86%	31.41%	28.16%	24.99%	27.74%	31.90%	34.60%
SG&A Expenses to Revenue	31.97%	35.01%	32.79%	32.44%	31.58%	34.21%	33.10%	34.38%	34.60%	36.84%	33.09%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	49.77%	52.84%	51.32%	50.84%	49.88%	52.93%	52.91%	55.24%	54.52%	57.32%	52.26%
Earnings before Interest and Taxes (EBIT)	6,525	5,064	6,108	6,201	5,856	4,642	5,542	15,752	5,595	3,286	3,826
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	10,017	8,593	9,659	9,741	9,734	8,475	9,391	19,906	9,615	7,473	7,691
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.12	2.06	2.05	1.80	1.86	1.66	1.60	1.36	1.18	1.04	1.16
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.45	1.40	1.39	1.24	1.29	1.15	1.12	1.06	0.93	0.82	0.82
Price to Earnings (P/E)	11.55	11.04	10.97	9.94	10.85	8.80	8.80	5.77	5.08	5.05	5.43
Dividend Yield	2.64%	2.70%	2.76%	5.36%	4.33%	4.06%	3.39%	3.56%	4.12%	4.69%	11.02%
Earnings Yield	8.66%	9.06%	9.11%	10.06%	9.22%	11.37%	11.36%	17.35%	19.69%	19.79%	18.41%
Enterprise Value to Invested Capital (EV/IC)	1.56	1.53	1.53	1.40	1.43	1.34	1.30	1.19	1.10	1.02	1.08
Enterprise Value to Revenue (EV/Rev)	2.14	2.07	2.05	1.93	1.98	1.83	1.79	1.74	1.60	1.48	1.44
Enterprise Value to EBITDA (EV/EBITDA)	6.73	6.48	6.50	6.15	6.45	6.02	5.92	4.55	4.15	3.95	4.03
Enterprise Value to EBIT (EV/EBIT)	10.71	10.27	10.25	9.78	10.48	9.92	9.93	6.80	6.24	6.07	6.33
Enterprise Value to NOPAT (EV/NOPAT)	15.01	14.66	14.35	13.38	14.26	11.42	11.20	11.70	10.83	11.60	12.28
Enterprise Value to Operating Cash Flow (EV/OCF)	9.08	8.85	8.60	8.77	9.54	8.18	7.86	6.92	5.98	5.44	5.59
Enterprise Value to Free Cash Flow (EV/FCFF)	21.98	15.19	12.99	12.88	18.37	14.72	15.53	48.35	21.40	29.10	10.15
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.17	1.16	1.16	1.17	1.17	1.15	1.14	1.04	1.01	1.02	1.07
Long-Term Debt to Equity	1.13	1.14	1.13	1.16	1.14	1.09	1.06	0.98	0.95	0.95	1.01
Financial Leverage	0.99	0.99	0.98	0.98	0.98	0.97	0.95	0.92	0.90	0.90	0.91
Leverage Ratio	3.13	3.15	3.14	3.11	3.12	3.13	3.11	2.96	2.95	2.93	3.00
Compound Leverage Factor	2.62	2.52	2.62	2.59	2.57	2.41	2.52	2.75	2.35	1.93	2.14
Debt to Total Capital	53.86%	53.77%	53.69%	53.90%	53.94%	53.46%	53.17%	51.02%	50.36%	50.40%	51.66%
Short-Term Debt to Total Capital	1.65%	1.15%	1.39%	0.56%	1.39%	2.65%	3.67%	2.87%	2.98%	3.04%	2.95%
Long-Term Debt to Total Capital	52.21%	52.63%	52.30%	53.34%	52.56%	50.81%	49.50%	48.15%	47.39%	47.36%	48.71%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.43%	0.42%	0.41%	0.40%	0.41%	0.39%	0.36%	0.31%	0.28%	0.24%	0.15%
Common Equity to Total Capital	45.72%	45.78%	45.90%	45.71%	45.65%	46.16%	46.47%	48.67%	49.36%	49.36%	48.20%
Debt to EBITDA	2.53	2.50	2.51	2.58	2.69	2.63	2.65	2.14	2.09	2.13	2.12
Net Debt to EBITDA	2.16	2.09	2.09	2.18	2.21	2.21	2.20	1.76	1.72	1.76	1.74
Long-Term Debt to EBITDA	2.46	2.44	2.44	2.55	2.62	2.50	2.47	2.02	1.97	2.00	2.00
Debt to NOPAT	5.65	5.65	5.53	5.62	5.94	5.00	5.02	5.50	5.45	6.27	6.45
Net Debt to NOPAT	4.81	4.74	4.61	4.75	4.89	4.20	4.16	4.51	4.48	5.17	5.30
Long-Term Debt to NOPAT	5.48	5.52	5.39	5.56	5.78	4.75	4.68	5.19	5.13	5.89	6.08
Altman Z-Score	1.38	1.29	1.31	1.28	1.29	1.24	1.22	1.42	1.24	1.16	1.18
Noncontrolling Interest Sharing Ratio	1.10%	1.15%	1.10%	0.90%	0.90%	0.90%	0.82%	0.73%	0.72%	0.65%	0.53%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.70	0.60	0.59	0.66	0.72	0.68	0.65	0.91	0.88	0.88	0.87
Quick Ratio	0.56	0.50	0.49	0.54	0.60	0.53	0.51	0.71	0.69	0.70	0.71
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-730	2,903	6,116	5,596	523	2,103	-1,349	-9,486	-4,956	-6,138	6,138
Operating Cash Flow to CapEx	247.44%	178.37%	298.40%	173.42%	241.02%	206.44%	368.29%	291.82%	283.07%	235.82%	293.11%
Free Cash Flow to Firm to Interest Expense	-0.69	2.85	6.10	5.45	0.50	1.97	-1.29	-8.58	-4.39	-5.45	5.61
Operating Cash Flow to Interest Expense	7.69	5.81	7.83	4.60	6.77	7.56	7.90	7.07	7.71	7.85	6.30
Operating Cash Flow Less CapEx to Interest Expense	4.58	2.55	5.21	1.95	3.96	3.90	5.75	4.65	4.98	4.52	4.15
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.47	0.47	0.47	0.46	0.46	0.47	0.47	0.46	0.45	0.46	0.47
Accounts Receivable Turnover	9.77	9.18	9.59	9.26	9.16	9.01	9.50	9.48	9.05	8.99	9.29
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	2.16	2.11	2.10	2.06	2.05	2.02	2.01	1.99	1.95	1.93	1.95
Accounts Payable Turnover	2.97	2.94	3.05	2.98	3.11	3.12	3.14	3.08	2.95	3.12	3.18
Days Sales Outstanding (DSO)	37.37	39.76	38.06	39.40	39.85	40.52	38.44	38.51	40.33	40.61	39.27
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	122.91	124.01	119.49	122.45	117.53	117.10	116.31	118.68	123.53	116.85	114.72
Cash Conversion Cycle (CCC)	-85.53	-84.26	-81.43	-83.05	-77.68	-76.58	-77.87	-80.16	-83.20	-76.24	-75.45
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	166,246	164,956	163,803	166,832	170,071	169,398	169,304	180,836	179,052	178,880	166,233
Invested Capital Turnover	0.74	0.74	0.74	0.72	0.73	0.74	0.74	0.71	0.71	0.71	0.75
Increase / (Decrease) in Invested Capital	5,466	594	-1,817	-674	3,825	4,442	5,501	14,004	8,981	9,482	-3,071
Enterprise Value (EV)	258,564	252,175	250,355	233,620	243,510	226,251	220,933	216,030	196,760	183,046	180,067
Market Capitalization	174,943	169,921	169,102	150,007	159,213	142,413	138,266	132,045	114,791	101,069	102,107
Book Value per Share	$20.03	$20.54	$21.04	$21.21	$22.15	$22.36	$22.91	$25.94	$26.29	$26.59	$24.54
Tangible Book Value per Share	($15.19)	($15.86)	($19.19)	($18.79)	($18.96)	($18.33)	($18.39)	($13.11)	($16.26)	($16.10)	($15.55)
Total Capital	180,722	180,557	179,865	182,068	187,906	185,368	186,422	198,987	196,699	196,312	183,152
Total Debt	97,329	97,090	96,573	98,128	101,364	99,093	99,122	101,528	99,063	98,937	94,612
Total Long-Term Debt	94,351	95,021	94,071	97,107	98,754	94,186	92,274	95,808	93,211	92,979	89,218
Net Debt	82,853	81,490	80,510	82,892	83,529	83,124	82,005	83,378	81,414	81,504	77,694
Capital Expenditures (CapEx)	3,295	3,320	2,630	2,724	2,913	3,914	2,252	2,678	3,071	3,749	2,351
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-13,784	-20,357	-20,359	-16,934	-16,804	-15,195	-16,756	-6,723	-7,318	-7,480	-8,560
Debt-free Net Working Capital (DFNWC)	-7,349	-14,142	-13,844	-10,869	-7,990	-7,873	-8,163	2,964	2,007	2,001	908
Net Working Capital (NWC)	-10,327	-16,211	-16,346	-11,890	-10,600	-12,780	-15,011	-2,756	-3,845	-3,957	-4,486
Net Nonoperating Expense (NNE)	739	343	522	1,083	772	1,860	856	-6,526	776	1,273	1,040
Net Nonoperating Obligations (NNO)	82,853	81,489	80,511	82,892	83,529	83,123	82,004	83,377	81,416	81,505	77,693
Total Depreciation and Amortization (D&A)	3,492	3,529	3,551	3,540	3,878	3,833	3,849	4,154	4,020	4,187	3,865
Debt-free, Cash-free Net Working Capital to Revenue	-11.40%	-16.74%	-16.70%	-13.98%	-13.65%	-12.28%	-13.56%	-5.41%	-5.93%	-6.05%	-6.83%
Debt-free Net Working Capital to Revenue	-6.08%	-11.63%	-11.35%	-8.97%	-6.49%	-6.36%	-6.61%	2.39%	1.63%	1.62%	0.72%
Net Working Capital to Revenue	-8.54%	-13.33%	-13.41%	-9.82%	-8.61%	-10.33%	-12.15%	-2.22%	-3.12%	-3.20%	-3.58%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.98	$0.82	$0.97	$1.01	$0.94	$1.25	$0.90	$2.99	$0.91	$0.61	$0.60
Adjusted Weighted Average Basic Shares Outstanding	4.03B	3.97B	3.92B	3.87B	3.83B	3.78B	3.73B	3.69B	3.64B	3.60B	3.57B
Adjusted Diluted Earnings per Share	$0.98	$0.80	$0.97	$1.00	$0.94	$1.23	$0.89	$2.98	$0.90	$0.62	$0.60
Adjusted Weighted Average Diluted Shares Outstanding	4.03B	3.97B	3.92B	3.87B	3.83B	3.78B	3.73B	3.69B	3.64B	3.60B	3.57B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	4.03B	3.97B	3.92B	3.87B	3.83B	3.78B	3.73B	3.69B	3.64B	3.60B	3.57B
Normalized Net Operating Profit after Tax (NOPAT)	4,736	3,497	4,299	4,922	4,348	3,495	4,152	4,518	4,025	3,344	3,067
Normalized NOPAT Margin	15.73%	11.19%	14.30%	16.58%	13.56%	10.95%	13.89%	14.90%	12.90%	10.35%	9.75%
Pre Tax Income Margin	18.15%	12.94%	16.98%	17.43%	15.03%	11.20%	15.03%	48.32%	14.32%	6.68%	8.69%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.16	4.97	6.10	6.04	5.65	4.34	5.28	14.26	4.96	2.92	3.50
NOPAT to Interest Expense	4.47	3.43	4.29	4.80	4.19	6.12	3.95	4.09	3.57	2.97	2.80
EBIT Less CapEx to Interest Expense	3.05	1.71	3.47	3.39	2.84	0.68	3.13	11.83	2.24	-0.41	1.35
NOPAT Less CapEx to Interest Expense	1.36	0.17	1.67	2.14	1.38	2.46	1.81	1.67	0.85	-0.36	0.65
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	32.08%	31.55%	31.65%	32.48%	33.49%	30.32%	31.47%	21.49%	21.89%	24.89%	26.74%
Augmented Payout Ratio	108.20%	106.29%	109.57%	113.71%	106.27%	87.66%	87.84%	57.95%	56.91%	61.29%	61.63%

Financials Breakdown Chart

Key Financial Trends

Comcast (CMCSA) has shown a generally steady top-line trajectory over the last four years, enabled by solid cash flow generation and a durable balance sheet. While 2025 featured some earnings variability, the company Maintains healthy operating cash flow, sizable leverage, and ongoing dividend and buyback activity. Below is a concise look at trends across revenue, profit, cash flow, and leverage, focused on the last four years of quarterly data provided.

Steady revenue growth: Operating revenue has trended upward from about $30.6B in late 2022 toward roughly $32.3B by Q4 2025, reflecting ongoing revenue resilience in a competitive video and broadband market.
Strong gross margins: Total gross profit margins have remained healthy, typically in the upper 60s to mid-70s percent range across quarters, indicating effective cost discipline relative to revenue.
Robust operating cash flow: Net cash from continuing operating activities has consistently been in the mid-to-high single digits of billions per quarter (for example, about $8.7B in Q3 2025 and $8.84B in Q4 2025), signaling durable cash generation.
Healthy free cash flow potential: With operating cash flow around $7–9B per quarter and capital expenditures typically in the $2.6–3.8B range, Comcast plausibly generates substantial free cash flow to fund dividends, buybacks, and debt service.
Shareholder returns: The company maintains a regular dividend per share (KPI shown as about $0.33 per share in recent periods) and engages in sizable share repurchases (roughly $1.5B–$2B per quarter in some periods), supporting per-share value for investors.
Solid liquidity: Cash and cash equivalents run around $8.5–9.7B across recent quarters, providing ample liquidity to cover near-term obligations and financing needs, along with a strong balance sheet position.

Capex discipline as a neutral trend: Quarterly purchases of property, plant & equipment have generally run in the $2.6–3.8B range, consistent with ongoing network maintenance and upgrades rather than aggressive expansion, which keeps capex predictable.
Debt level context: Long-term debt has remained high, roughly in the $92–97B range across these years, which is a neutral factor—large absolute debt but supported by strong cash flow and liquidity.

Earnings variability and near-term earnings dip: Quarterly net income has shown volatility, with 2025 Q4 net income around $2.07B after Q3 2025 was about $3.25B, suggesting some earnings cadence variability that investors should monitor.
Interest expense on a large debt burden: Interest expense runs around $1.0–$1.1B per quarter, contributing to a persistent drag on net income given the substantial debt load.

05/06/26 12:50 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Comcast's Financials

When does Comcast's fiscal year end?

According to the most recent income statement we have on file, Comcast's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Comcast's net income changed over the last 10 years?

Comcast's net income appears to be on an upward trend, with a most recent value of $19.66 billion in 2025, rising from $8.41 billion in 2015. The previous period was $15.88 billion in 2024.

What is Comcast's operating income?

Comcast's total operating income in 2025 was $20.67 billion, based on the following breakdown:

Total Gross Profit: $88.76 billion
Total Operating Expenses: $68.09 billion

How has Comcast's revenue changed over the last 10 years?

Over the last 10 years, Comcast's total revenue changed from $74.51 billion in 2015 to $123.71 billion in 2025, a change of 66.0%.

How much debt does Comcast have?

Comcast's total liabilities were at $175.26 billion at the end of 2025, a 2.6% decrease from 2024, and a 57.4% increase since 2015.

How much cash does Comcast have?

In the past 10 years, Comcast's cash and equivalents has ranged from $0.00 in 2016 to $11.74 billion in 2020, and is currently $9.48 billion as of their latest financial filing in 2025.

How has Comcast's book value per share changed over the last 10 years?

Over the last 10 years, Comcast's book value per share changed from 21.27 in 2015 to 26.59 in 2025, a change of 25.0%.

Related Companies

Financial statements for NYSE:CCZ last updated on 4/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Comcast (CCZ) Financials

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Comcast (CCZ) Financials

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