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what it is
Comcast sells your internet, cable, phone service, TV networks, movies, and theme-park tickets under one very large roof.
how it gets paid
Last year Comcast made $123.7B in revenue. Connectivity & Platforms was the main engine at $79.2B, or 64% of sales.
growth snapshot
Revenue was roughly flat last year at $123.7B. The number that mattered was $0.84, because Comcast only had to clear $0.79 to prove earnings are holding up better than sentiment.
what just happened
Comcast earned $0.84 a share in its latest reported quarter, beating the $0.79 estimate by 6.73%.
At a glance
A balance sheet — strong enough to weather a downturn
95/100 earnings predictability — you can trust these numbers
7.3x trailing p/e — the market's not buying it — or you found a deal
4.4% dividend yield — cash in your pocket every quarter
8.0% return on capital — nothing to write home about
xvary composite: 79/100 — average
What they do
Comcast sells your internet, cable, phone service, TV networks, movies, and theme-park tickets under one very large roof.
Your internet bill is the moat. Connectivity & Platforms is 64% of adjusted 2025 revenue, which means Comcast still owns the household pipe in a lot of places. Switching costs (leaving is annoying and time-consuming) keep people paying, and that steady cash helps fund NBC, Universal, and theme parks.
How they make money
$123.7B
annual revenue · their business grew -0.0% last year
Connectivity & Platforms
$79.2B
Media
$14.8B
Studios
$14.8B
Theme Parks
$14.9B
The products that matter
home connectivity and video
Broadband and Pay-TV
anchors a $123.7B revenue base
This is the legacy core of the business. With total revenue flat at $123.7B, the job here is retention and pricing discipline, not heroic growth.
core cash flow
mobile bundle for households
Wireless Services
supports customer retention
Wireless matters because Comcast needs one more line on the bill while carrying $98.4B in long-term debt. You want bundled customers, not one-product customers.
bundle defense
content and media monetization
Media Assets
~11% net margin (company)
Company-level net margin is nearer ~11% on ~$123.7B (health block)—this card is not a clean segment margin; treat it as whole-company context.
profit support
Key numbers
7.3x
trailing p/e
P/E (price-to-earnings ratio) → what you pay for each dollar of profit → so what: Comcast is priced like a shrinking business.
4.4%
dividend yield
Dividend yield → your yearly cash payout at today's price → so what: you get paid to wait, but waiting is the whole issue.
$98.4B
long-term debt
Long-term debt → money the company owes over many years → so what: that debt competes with buybacks and growth spending.
16.7%
operating margin
Operating margin → profit after running the business → so what: Comcast is still a real cash machine, not a broken one.
Financial health
A
strength
- balance sheet grade A — very strong financial position
- risk rank 2 — safer than 80% of stocks
- price stability 85 / 100
- long-term debt $98.4B (46% of capital)
- net profit margin 11.3% — keeps 11 cents of every dollar in revenue
- return on equity 14% — $0.14 profit for every $1 investors have put in
A — balance sheet grade looks solid but long-term debt needs watching.
Total return vs. market
You invested $10,000 in CMCSA 3 years ago → it's now worth $9,890.
The index would have given you $13,880.
source: institutional data · total return
What just happened
beat estimates
Comcast earned $0.84 a share in its latest reported quarter, beating the $0.79 estimate by 6.73%.
Quarterly EPS came in at $0.84 versus consensus at $0.79. Full-year 2025 EPS was $4.31 versus $4.33 in 2024, so the beat was nice, but the bigger story is that profit growth has stalled. The ~$91.4B revenue scrape is in the ballpark of nine months’ consolidated revenue, not the full ~$123.7B FY—label periods before comparing.
~$91.4B
revenue (9M-style print)
$0.84
eps
6.73%
surprise
the number that mattered
The number that mattered was $0.84, because Comcast only had to clear $0.79 to prove earnings are holding up better than sentiment.
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that said, comcast held on to bravo and that channel’s popular reality-tv franchises.
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as of december 31st, its cable unit still also had 11.27 million (non-peacock) pay-tv subscribers.
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other changes are under way.
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among them is a major shift in the way comcast markets high-speed internet service.
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having suffered nine straight quarterly declines in its broadband subscriber base, the company is doing a reset of sorts, it is transitioning to simpler service plans that are generally priced more competitively with fixed wireless offerings from the likes of verizon and t-mobile.
source: company earnings report, 2026
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What could go wrong
the #1 risk is broadband pricing pressure colliding with legacy video decline.
med
broadband pricing pressure and video erosion
Comcast's core economics depend on recurring household bills. If price increases stop offsetting customer losses, flat revenue turns into steady decline.
Q4 already showed a 3% drop in revenue from last year. If that becomes the pattern, the 7.3x multiple can stay cheap for a long time.
med
debt limits flexibility
An A balance sheet helps, but $98.4B of long-term debt is still $98.4B of long-term debt. That reduces room for aggressive buybacks, big strategic pivots, or operating mistakes.
Debt equals 46% of capital. You are not looking at a distressed balance sheet. You are looking at a business that cannot afford complacency.
med
institutional sponsorship keeps fading
Three straight quarters of net selling tell you large investors are not waiting around for the turnaround narrative to arrive.
With 3.2B shares held by institutions, weak demand from big holders can weigh on the stock even if the business stays profitable.
A business with flat $123.7B revenue and $98.4B of debt does not get much room for operating mistakes.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
quarterly revenue stabilization
Q4 revenue was $31.2B, down 3% from last year. If that line does not stabilize, the low multiple is probably justified.
trend
institutional selling trend
653 buyers versus 1,066 sellers in 4Q2025 kept a three-quarter selling streak alive. You want that gap narrowing, not widening.
cal
next earnings print
Watch whether EPS stays near the recent $0.76 level while revenue stops shrinking. Comcast needs both, not just a beat.
risk
debt versus shareholder returns
A 4.4% yield looks nice until debt climbs. Keep an eye on whether the $98.4B long-term debt load starts moving higher.
Analyst rankings
short-term outlook
top 20%
momentum score 2 — in human-speak, analysts think the next 12 months should be better than average.
risk profile
safer than most
stability score 2 — historically less volatile than roughly 80% of stocks.
chart momentum
bottom 5%
technical score 5 — the chart has been weak, which matches the stock's three-year underperformance.
earnings predictability
95 / 100
Management's earnings profile is unusually steady. You do not own this for surprises. You own it for consistency.
source: institutional data
Institutional activity
institutions have been net selling for 3 consecutive quarters — 653 buyers vs. 1,066 sellers in 4q2025. total institutional holdings: 3.2B shares. net selling for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$21
$38
$32
current price
$30
target midpoint · 5% from current · 3-5yr high: $65 (+105% · 22% ann'l return)
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
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