CMCSAComcast

Communication · Cable & Media · Nasdaq, NYSE

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. 10-K, Item 1

Employees: 179,000
Headquarters: Philadelphia, PA
CEO: Brian L. Roberts
Next results: around Jan 28, 2027

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All key numbers (41, from the latest 10-K and 10-Q) From EDGAR

EPS (ttm)	3.16	Sales (ttm)	123.0B	Net income (ttm)	11.3B	Sales growth	0.0%	EPS growth	+30.2%	Sales Q/Q	-6.1%
Free cash flow	19.7B	Gross margin	-	Oper. margin	14.7%	Net margin	9.2%	FCF margin	16.0%	ROE	12.2%
ROA	4.4%	R&D / sales	-	Dividend	1.32	Debt/Eq	0.94	Curr. ratio	0.82	Cash	7.6B
Op. cash flow (ttm)	31.7B	EBITDA	36.9B	EBITDA margin	29.8%	Net debt	79.8B	Quick ratio	0.82	Interest cover	4.69
ROIC	8.8%	Payout ratio	24.5%	Tax rate	23.7%	Stock pay / sales	1.0%	Shares out.	3.6B	Shares Y/Y	-5.1%
Book / share	25.98	Cash / share	2.13	Sales / share	34.53	Asset turnover	0.48	Days sales out.	41	Sales 3Y CAGR	+0.6%
Sales 5Y CAGR	+3.6%	EPS 3Y CAGR	+64.5%	EPS 5Y CAGR	+18.8%	Employees	179,000	Sales / employee	687K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024

Free cash flow rose 41%$15.5B → $21.9B · Cash from operations − capital expenditure · 10-K ↗
Operating margin narrowed to 16.7%18.8% → 16.7% · Operating income / revenue · 10-K ↗

What management wrote about it → · Every company →

CMCSA against Communication peers

Ten years, side by side → · All 19 →

CMCSAPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 19 companies, the better end on the right. Hover a dot for the company.

Sales growth

0.0%15th of 19 · median +6.8%

Net margin

9.2%10th of 19 · median 9.2%

Return on equity

12.2%11th of 19 · median 12.7%

Free cash flow margin

16.0%4th of 16 · median 10.0%

Debt / equity (less is better)

0.949th of 17 · median 0.94

CMCSA and the 5 peers closest in revenue
Company	Revenue (ttm)	Sales growth	Gross margin	Net margin	ROE	FCF margin	Debt / equity
CMCSA Comcast	$123.0B	0.0%	-	9.2%	12.2%	16.0%	0.94
VZ Verizon	$139.4B	+2.5%	-	11.8%	15.3%	-	1.55
T AT&T	$128.9B	+2.7%	-	10.2%	10.7%	13.8%	1.30
DIS Walt Disney	$98.9B	+3.4%	-	8.7%	7.8%	8.4%	0.42
TMUS T-Mobile US	$93.8B	+8.5%	-	12.0%	20.1%	19.9%	1.62
CHTR Charter Communications	$55.6B	-0.6%	-	2.5%	12.7%	7.1%	9.75

Profitability

2 of 3

✓
Net margin above the peer median9.2% vs 9.2%
!
Return on equity below 15%12.2%
✓
A profit in every one of 10 years

Net margin, FY2016 to FY2025: 10.7% → 16.2%

Balance sheet

1 of 4

!
Interest covered less than 5 timesOperating income is 4.7× interest expense
✓
Debt smaller than equityDebt / equity 0.94 on the latest balance sheet (peer median 0.94)
!
Current ratio below 1Current ratio 0.82
!
Net debt over 3 years of free cash flow$79.8B net debt, 4.1 years

Debt / equity at each year end, FY2016 to FY2025: 1.08 → 1.02

What the debt is made of ↓

Cash and shareholders

4 of 4

✓
Free cash flow positive in every one of 10 years$21.9B last year
✓
Share count down over 5 years−19.8%
✓
Dividend per share up over 5 years$0.92 → $1.32
✓
Cash from operations above net income$33.6B vs $20.0B

Free cash flow, FY2016 to FY2025: 10.6B → 21.9B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

What the debt is made of, and when it is due

balance sheet of Sep 30, 2026 · schedule of Dec 31, 2025

The debt note's own lines, 2025-12-31

Fixed rate $0Floating $6.5B Not stated $100.5B

Line, as the company names it	Kind	Rate	Fixed or floating	Amount
Senior notes with maturities greater than 10 years, at face value (Senior Notes)	Notes and bonds	3.80%	not stated	$55.4B
Senior notes with maturities of 5 years or less, at face value (Senior Notes)	Notes and bonds	3.30%	not stated	$25.4B
Senior notes with maturities between 5 and 10 years, at face value (Senior Notes)	Notes and bonds	4.20%	not stated	$18.7B
Denominated Senior Notes and Term Loans Member	Bank loans	–	floating	$3.3B
Term loans	Bank loans	2.50%	floating	$3.2B
Senior Secured Notes (Senior Notes)	Secured	7.25%	not stated	$1.0B

From the debt note in the 10-K's XBRL (0001628280-26-004994), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.

Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →

Revenue and net income, FY2016 to FY2025

Revenue 123.7B Net income 20.0B

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Where the $123.7B of revenue came from

by region, year to Dec 31, 2025

United States $95.1B · 77%
United Kingdom $15.2B · 12%
Other $13.4B · 11%

From the segment tables in the 10-K XBRL. Revenue by segment, product and region →

CMCSA's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly

Revenue123.7B

Net income20.0B

Free cash flow21.9B

EPS (diluted)5.39

Dividend per share1.32

Diluted shares3.7B

Revenue by business segment

year to Dec 31, 2025

	Revenue	Share	vs year before
Residential Connectivity And Platforms	70.7B	57.2%	-1.2%
Media	27.1B	21.9%	-3.8%
Studios	11.3B	9.1%	+1.7%
Business Services Connectivity	10.2B	8.3%	+5.5%
Theme Parks	9.8B	8.0%	+14.1%

10-K 0001628280-26-004994, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025

	Revenue	Share	vs year before
United States	95.1B	76.9%	-1.1%
United Kingdom	15.2B	12.3%	+7.0%
Other	13.4B	10.8%	+0.6%

10-K 0001628280-26-004994, segment and revenue notes (XBRL).

Income statement

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	80.7B	85.0B	94.5B	108.9B	103.6B	116.4B	121.4B	121.6B	123.7B	123.7B
Operating income	16.8B	18.0B	19.0B	21.1B	17.5B	20.8B	14.0B	23.3B	23.3B	20.7B
Interest expense	2.9B	3.1B	3.5B	4.6B	4.6B	4.3B	3.9B	4.1B	4.1B	4.4B
Pretax income	14.3B	15.4B	15.2B	17.0B	14.1B	19.1B	9.3B	20.5B	18.7B	25.8B
Income tax	5.3B	-7.6B	3.4B	3.7B	3.4B	5.3B	4.4B	5.4B	2.8B	6.1B
Net income	8.7B	22.7B	11.7B	13.1B	10.5B	14.2B	5.4B	15.4B	16.2B	20.0B
EPS (diluted)	1.78	4.75	2.53	2.83	2.28	3.04	1.21	3.71	4.14	5.39
Diluted shares	4.9B	4.8B	4.6B	4.6B	4.6B	4.7B	4.4B	4.1B	3.9B	3.7B
Depreciation & amortization	9.4B	10.1B	11.0B	13.0B	13.1B	13.8B	13.8B	14.3B	14.8B	16.2B
EBITDA	26.3B	28.1B	30.0B	34.1B	30.6B	34.6B	27.9B	37.6B	38.1B	36.9B
Operating margin	20.8%	21.2%	20.1%	19.4%	16.9%	17.9%	11.6%	19.2%	18.8%	16.7%
Net margin	10.7%	26.7%	12.4%	12.0%	10.2%	12.2%	4.4%	12.7%	13.1%	16.2%
Revenue growth	-	+5.3%	+11.1%	+15.3%	-4.9%	+12.4%	+4.3%	+0.1%	+1.8%	0.0%
EPS growth	-	+167%	-46.7%	+11.9%	-19.4%	+33.3%	-60.2%	+207%	+11.6%	+30.2%

Balance sheet

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash	3.3B	3.4B	3.8B	5.5B	11.7B	8.7B	4.7B	6.2B	7.3B	9.5B
Short-term investments	97.0M	19.0M	94.0M	1.7B	292.0M	368.0M	402.0M	310.0M	21.0M	14.0M
Receivables	8.0B	8.8B	11.1B	11.3B	11.5B	12.0B	12.7B	13.8B	13.7B	13.9B
Current assets	16.4B	16.3B	21.8B	25.4B	26.7B	24.8B	21.8B	24.0B	26.8B	29.6B
Property & equipment	36.3B	38.5B	44.4B	48.3B	52.0B	54.0B	55.5B	59.7B	62.5B	65.7B
Goodwill	36.0B	36.8B	66.2B	68.7B	70.7B	70.2B	58.5B	59.3B	58.2B	61.5B
Total assets	180.5B	187.5B	251.7B	263.4B	273.9B	275.9B	257.3B	264.8B	266.2B	272.6B
Accounts payable	6.9B	6.9B	8.5B	10.8B	11.4B	12.5B	12.5B	12.4B	11.3B	11.1B
Current liabilities	21.5B	22.0B	27.6B	30.3B	28.8B	29.3B	27.9B	40.2B	39.6B	33.5B
Total debt	58.3B	64.6B	111.7B	102.2B	103.8B	94.8B	94.8B	97.1B	99.1B	98.9B
Shareholders' equity	53.9B	68.6B	71.6B	82.7B	90.3B	96.1B	80.9B	82.7B	85.6B	96.9B
Retained earnings	23.1B	38.2B	42.0B	50.7B	56.4B	61.9B	51.6B	52.9B	57.0B	66.7B

Cash flow

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	19.7B	21.3B	24.3B	25.7B	24.7B	29.1B	26.4B	28.5B	27.7B	33.6B
Capital spending	9.1B	9.6B	9.8B	10.0B	9.2B	9.2B	10.6B	12.2B	12.2B	11.8B
Free cash flow	10.6B	11.7B	14.5B	15.7B	15.6B	20.0B	15.8B	16.3B	15.5B	21.9B
Stock-based pay (added back)	640.0M	751.0M	826.0M	1.0B	1.2B	1.3B	1.3B	1.2B	1.3B	1.3B
Dividends paid	2.6B	2.9B	3.4B	3.7B	4.1B	4.5B	4.7B	4.8B	4.8B	4.9B
Buybacks	5.4B	5.4B	5.3B	504.0M	534.0M	4.7B	13.3B	11.3B	9.1B	7.2B
Acquisitions	3.9B	532.0M	38.2B	370.0M	233.0M	1.4B	12.0M	0	119.0M	1.3B
Debt raised	9.2B	11.5B	44.8B	5.5B	18.6B	2.6B	2.7B	6.1B	6.3B	3.5B
Debt repaid	-	-	-	-	-	-	2.3B	4.0B	3.6B	5.7B
Investing cash flow	-18.3B	-13.5B	-50.9B	-14.8B	-12.0B	-13.4B	-14.1B	-7.2B	-15.7B	-16.2B
Financing cash flow	-434.0M	-7.6B	27.1B	-9.2B	-6.5B	-18.6B	-16.2B	-19.9B	-10.9B	-14.3B
Dividend per share	0.55	0.63	0.76	0.84	0.92	1.00	1.08	1.16	1.24	1.32

Stock-based pay and leases

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Stock-based pay (expense)	640.0M	751.0M	826.0M	1.0B	1.2B	1.3B	1.3B	1.2B	1.3B	1.3B
Stock-based pay / revenue	0.8%	0.9%	0.9%	0.9%	1.2%	1.1%	1.1%	1.0%	1.0%	1.0%
Operating lease cash paid	-	-	-	914.0M	936.0M	987.0M	965.0M	963.0M	1.0B	1.0B
Right-of-use assets	-	-	-	4.0B	3.8B	6.5B	6.0B	5.8B	5.5B	5.3B
Operating lease liabilities	-	-	-	4.6B	4.5B	7.2B	6.8B	6.6B	6.3B	6.1B
Finance lease liabilities	-	-	787.0M	-	-	-	-	-	-	-

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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