COMCAST CORP
$25.16
+0.36 (+1.45%) · delayed · Nov 13, 2026
Five-year price
52w $20.48 to $32.86
- Market cap
- $93.3B
- Enterprise value
- $182.8B
- P/E
- 4.7×
- 5.7× on 3y avg EPS
- EV / EBIT
- 8.8×
- FCF yield
- 23.5%
- ROIC
- 8.5%
- Debt / equity
- 1.02
- Piotroski F
- 7/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
83
- ○ROIC > 12% (5y avg)5y avg ROIC 8.6%
- ●ROE > 15% (5y avg)5y avg ROE 15.9%
- ●Stable operating marginsMargin volatility 2.8% (σ, 5y)
- ●Earnings convert to cashFCF / net income 149% (5y avg)
- ●Growing revenueRevenue CAGR 5y 3.6%
- ●Shrinking share countDiluted shares -19.8% over 5y
Value
100
- ●P/E below 15P/E 4.7
- ●EV/EBIT below 12EV/EBIT 8.8
- ●FCF yield above 6%FCF yield 23.5%
- ●Price below Graham NumberGraham Number $56.29
- ●P/B below 3P/B 1.0
Safety
20
- ○Debt / equity below 0.5D/E 1.02
- ○Debt payable in < 4 yrs of earningsNet debt $89.5B
- ○Interest coverage > 8xCoverage 4.7x
- ○Current ratio > 1.5Current ratio 0.88
- ●Piotroski F-score ≥ 6F-score 7/9
Graham Defensive
86
- ●Adequate size (revenue > $2B)Revenue $123.7B
- ○Strong condition (current ratio ≥ 2)Current ratio 0.88
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 46%
- ●Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 5.7
- ●P/E × P/B ≤ 22.5Product 5.5
Valuation lab
What do you have to believe?
At $25.16, the market is pricing in about −6.1% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $89.5B · 3709M shares · 5y revenue CAGR 3.6%
Intrinsic value
$80.09
Price
$25.16
Margin of safety
69%
What the price implies
The market is paying for −6.1% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
56% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 80,736 | 85,029 | 94,507 | 108,942 | 103,564 | 116,385 | 121,427 | 121,572 | 123,731 | 123,707 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | 16,831 | 18,018 | 19,009 | 21,125 | 17,493 | 20,817 | 14,041 | 23,314 | 23,297 | 20,672 |
| Operating margin | 20.8% | 21.2% | 20.1% | 19.4% | 16.9% | 17.9% | 11.6% | 19.2% | 18.8% | 16.7% |
| Pre-tax income | 14,326 | 15,353 | 15,242 | 16,996 | 14,065 | 19,093 | 9,284 | 20,478 | 18,673 | 25,766 |
| Income tax | 5,298 | (7,569) | 3,380 | 3,673 | 3,364 | 5,259 | 4,359 | 5,371 | 2,796 | 6,106 |
| Net income | 8,678 | 22,735 | 11,731 | 13,057 | 10,534 | 14,159 | 5,370 | 15,388 | 16,192 | 19,998 |
| EPS (diluted) | 1.78 | 4.75 | 2.53 | 2.83 | 2.28 | 3.04 | 1.21 | 3.71 | 4.14 | 5.39 |
| Diluted shares | 4,875 | 4,786 | 4,640 | 4,610 | 4,624 | 4,654 | 4,430 | 4,148 | 3,908 | 3,709 |
Who owns it