Comcast Financials
This page shows Comcast (CCZ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
With revenue essentially flat, cash extraction from a mature asset base rather than sales growth is driving Comcast’s improvement.
Revenue stayed near$124B in both FY2023 and FY2025, but operating cash flow reached$33.6B by FY2025. With free cash flow margin at17.7% and capex lower than FY2023, the business turned a stable sales base into more spendable cash, showing better cash conversion rather than faster expansion.
The balance sheet improved through equity rebuilding more than debt paydown: long-term debt stayed around
From FY2024 to FY2025, operating margin fell from
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Comcast's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Comcast has an operating margin of 16.7%, meaning the company retains $17 of operating profit per $100 of revenue. This results in a moderate score of 62/100, indicating healthy but not exceptional operating efficiency. This is down from 18.8% the prior year.
Comcast's revenue grew a modest -0.0% year-over-year to $123.7B. This slow but positive growth earns a score of 35/100.
Comcast carries a low D/E ratio of 0.96, meaning only $0.96 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 82/100, indicating a strong balance sheet with room for future borrowing.
Comcast's current ratio of 0.88 is below the typical benchmark, resulting in a score of 12/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Comcast has a free cash flow margin of 17.7%, earning a moderate score of 63/100. The company generates positive cash flow after capital investments, but with room for improvement.
Comcast's ROE of 20.6% shows moderate profitability relative to equity, earning a score of 55/100. This is up from 18.9% the prior year.
Comcast scores 1.24, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Comcast passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Comcast generates $1.68 in operating cash flow ($33.6B OCF vs $20.0B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Comcast earns $4.7 in operating income for every $1 of interest expense ($20.7B vs $4.4B). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Comcast generated $123.7B in revenue in fiscal year 2025. This represents a decrease of 0.0% from the prior year.
Comcast's EBITDA was $36.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3.2% from the prior year.
Comcast reported $20.0B in net income in fiscal year 2025. This represents an increase of 23.5% from the prior year.
Comcast earned $5.39 per diluted share (EPS) in fiscal year 2025. This represents an increase of 30.2% from the prior year.
Cash & Balance Sheet
Comcast generated $21.9B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 41.3% from the prior year.
Comcast held $9.5B in cash against $93.0B in long-term debt as of fiscal year 2025.
Comcast paid $1.32 per share in dividends in fiscal year 2025. This represents an increase of 6.5% from the prior year.
Margins & Returns
Comcast's operating margin was 16.7% in fiscal year 2025, reflecting core business profitability. This is down 2.1 percentage points from the prior year.
Comcast's net profit margin was 16.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.1 percentage points from the prior year.
Comcast's ROE was 20.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.7 percentage points from the prior year.
Capital Allocation
Comcast spent $7.2B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 21.4% from the prior year.
Comcast invested $11.8B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 3.5% from the prior year.
CCZ Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $31.5B-2.6% | $32.3B+3.6% | $31.2B+2.9% | $30.3B+1.4% | $29.9B-6.4% | $31.9B-0.5% | $32.1B+8.0% | $29.7B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $4.1B+18.5% | $3.5B-37.0% | $5.5B-7.6% | $6.0B+5.9% | $5.7B+13.3% | $5.0B-14.8% | $5.9B-11.7% | $6.6B |
| Interest Expense | $1.1B-2.8% | $1.1B-0.2% | $1.1B+2.1% | $1.1B+5.2% | $1.1B-1.8% | $1.1B+3.1% | $1.0B+1.1% | $1.0B |
| Income Tax | $706.0M+693.3% | $89.0M-92.7% | $1.2B-66.2% | $3.6B+201.3% | $1.2B+207.7% | -$1.1B-189.4% | $1.2B-7.0% | $1.3B |
| Net Income | $2.2B+0.3% | $2.2B-34.9% | $3.3B-70.0% | $11.1B+229.6% | $3.4B-29.3% | $4.8B+31.6% | $3.6B-7.6% | $3.9B |
| EPS (Diluted) | $0.60 | N/A | $0.90-69.8% | $2.98+234.8% | $0.89 | N/A | $0.94-6.0% | $1.00 |
CCZ Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $260.0B-4.6% | $272.6B-0.1% | $273.0B-0.3% | $273.9B+2.3% | $267.8B+0.6% | $266.2B-1.4% | $269.9B+2.8% | $262.6B |
| Current Assets | $28.8B-2.5% | $29.6B+2.5% | $28.9B-0.6% | $29.0B+6.3% | $27.3B+1.9% | $26.8B-1.4% | $27.2B+15.9% | $23.5B |
| Cash & Equivalents | $9.5B-0.1% | $9.5B+1.7% | $9.3B-3.7% | $9.7B+12.7% | $8.6B+17.4% | $7.3B-16.9% | $8.8B+45.3% | $6.1B |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $14.1B+1.5% | $13.9B+5.0% | $13.2B+1.3% | $13.0B+1.2% | $12.9B-5.7% | $13.7B-2.7% | $14.0B+6.6% | $13.2B |
| Goodwill | $53.4B-13.2% | $61.5B+0.2% | $61.4B-0.7% | $61.8B+4.6% | $59.1B+1.5% | $58.2B-3.1% | $60.1B+2.9% | $58.4B |
| Total Liabilities | $171.7B-2.3% | $175.7B-0.1% | $175.9B-0.6% | $177.0B-2.3% | $181.1B+0.3% | $180.7B-1.9% | $184.1B+2.7% | $179.3B |
| Current Liabilities | $33.3B-0.6% | $33.5B+2.5% | $32.7B+2.9% | $31.8B-24.9% | $42.3B+6.9% | $39.6B+4.8% | $37.8B+6.9% | $35.3B |
| Long-Term Debt | $89.2B-4.0% | $93.0B-0.2% | $93.2B-2.7% | $95.8B+3.8% | $92.3B-2.0% | $94.2B-4.6% | $98.8B+1.7% | $97.1B |
| Total Equity | $88.3B-8.9% | $96.9B-0.2% | $97.1B+0.2% | $96.9B+11.8% | $86.6B+1.3% | $85.6B-0.2% | $85.8B+3.1% | $83.2B |
| Retained Earnings | $58.6B-12.1% | $66.7B-0.3% | $66.9B+1.3% | $66.0B+14.8% | $57.5B+0.9% | $57.0B+3.4% | $55.1B+1.5% | $54.3B |
CCZ Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $6.9B-22.1% | $8.8B+1.7% | $8.7B+11.2% | $7.8B-5.8% | $8.3B+2.6% | $8.1B+15.1% | $7.0B+48.6% | $4.7B |
| Capital Expenditures | $2.4B-37.3% | $3.7B+22.1% | $3.1B+14.7% | $2.7B+18.9% | $2.3B-42.5% | $3.9B+34.4% | $2.9B+6.9% | $2.7B |
| Free Cash Flow | $4.5B-10.8% | $5.1B-9.4% | $5.6B+9.4% | $5.1B-15.0% | $6.0B+45.0% | $4.2B+1.4% | $4.1B+105.4% | $2.0B |
| Investing Cash Flow | -$2.9B+34.2% | -$4.4B-16.2% | -$3.8B+22.8% | -$4.9B-67.2% | -$3.0B+42.1% | -$5.1B-38.9% | -$3.7B-9.3% | -$3.4B |
| Financing Cash Flow | -$5.0B-55.4% | -$3.2B+38.5% | -$5.2B-190.3% | -$1.8B+55.7% | -$4.1B+7.9% | -$4.4B-589.1% | -$642.0M+64.2% | -$1.8B |
| Dividends Paid | $1.2B+3.2% | $1.2B-1.1% | $1.2B-1.2% | $1.2B+1.1% | $1.2B+2.9% | $1.2B-1.3% | $1.2B-1.6% | $1.2B |
| Share Buybacks | $1.5B-2.3% | $1.5B-1.0% | $1.6B-15.0% | $1.8B-18.5% | $2.2B+2.6% | $2.2B+9.7% | $2.0B-12.2% | $2.3B |
CCZ Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 13.1%+2.3pp | 10.8%-6.9pp | 17.7%-2.0pp | 19.8%+0.8pp | 18.9%+3.3pp | 15.6%-2.6pp | 18.3%-4.1pp | 22.4% |
| Net Margin | 6.9%+0.2pp | 6.7%-4.0pp | 10.7%-26.0pp | 36.7%+25.4pp | 11.3%-3.7pp | 15.0%+3.7pp | 11.3%-1.9pp | 13.2% |
| Return on Equity | 2.5%+0.2pp | 2.2%-1.2pp | 3.4%-8.1pp | 11.5%+7.6pp | 3.9%-1.7pp | 5.6%+1.4pp | 4.2%-0.5pp | 4.7% |
| Return on Assets | 0.8%+0.0pp | 0.8%-0.4pp | 1.2%-2.8pp | 4.1%+2.8pp | 1.3%-0.5pp | 1.8%+0.4pp | 1.3%-0.2pp | 1.5% |
| Current Ratio | 0.87-0.0 | 0.880.0 | 0.88-0.0 | 0.91+0.3 | 0.65-0.0 | 0.68-0.0 | 0.72+0.1 | 0.66 |
| Debt-to-Equity | 1.01+0.1 | 0.960.0 | 0.96-0.0 | 0.99-0.1 | 1.07-0.0 | 1.10-0.1 | 1.15-0.0 | 1.17 |
| FCF Margin | 14.4%-1.3pp | 15.8%-2.3pp | 18.0%+1.1pp | 17.0%-3.3pp | 20.2%+7.2pp | 13.1%+0.2pp | 12.8%+6.1pp | 6.7% |
Note: The current ratio is below 1.0 (0.88), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Frequently Asked Questions
What is Comcast's annual revenue?
Comcast (CCZ) reported $123.7B in total revenue for fiscal year 2025. This represents a -0.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Comcast's revenue growing?
Comcast (CCZ) revenue grew by 0% year-over-year, from $123.7B to $123.7B in fiscal year 2025.
Is Comcast profitable?
Yes, Comcast (CCZ) reported a net income of $20.0B in fiscal year 2025, with a net profit margin of 16.2%.
What is Comcast's EBITDA?
Comcast (CCZ) had EBITDA of $36.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Comcast have?
As of fiscal year 2025, Comcast (CCZ) had $9.5B in cash and equivalents against $93.0B in long-term debt.
What is Comcast's operating margin?
Comcast (CCZ) had an operating margin of 16.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Comcast's net profit margin?
Comcast (CCZ) had a net profit margin of 16.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Comcast pay dividends?
Yes, Comcast (CCZ) paid $1.32 per share in dividends during fiscal year 2025.
What is Comcast's return on equity (ROE)?
Comcast (CCZ) has a return on equity of 20.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Comcast's free cash flow?
Comcast (CCZ) generated $21.9B in free cash flow during fiscal year 2025. This represents a 41.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Comcast's operating cash flow?
Comcast (CCZ) generated $33.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Comcast's total assets?
Comcast (CCZ) had $272.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Comcast's capital expenditures?
Comcast (CCZ) invested $11.8B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Comcast's current ratio?
Comcast (CCZ) had a current ratio of 0.88 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Comcast's debt-to-equity ratio?
Comcast (CCZ) had a debt-to-equity ratio of 0.96 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Comcast's return on assets (ROA)?
Comcast (CCZ) had a return on assets of 7.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Comcast's Altman Z-Score?
Comcast (CCZ) has an Altman Z-Score of 1.24, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Comcast's Piotroski F-Score?
Comcast (CCZ) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Comcast's earnings high quality?
Comcast (CCZ) has an earnings quality ratio of 1.68x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Comcast cover its interest payments?
Comcast (CCZ) has an interest coverage ratio of 4.7x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Comcast?
Comcast (CCZ) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.