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Comcast Corp Financials

CMCSA
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Comcast Corp (CMCSA) 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).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 52 / 100
Financial Profile 52/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
59

Comcast Corp 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 59/100, indicating healthy but not exceptional operating efficiency. This is down from 18.8% the prior year.

Growth
33

Comcast Corp's revenue grew a modest -0.0% year-over-year to $123.7B. This slow but positive growth earns a score of 33/100.

Leverage
82

Comcast Corp 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.

Liquidity
12

Comcast Corp's current ratio of 0.88 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 12/100, which could limit financial flexibility.

Cash Flow
69

Comcast Corp converts 17.7% of revenue into free cash flow ($21.9B). This strong cash generation earns a score of 69/100.

Returns
57

Comcast Corp's ROE of 20.6% shows moderate profitability relative to equity, earning a score of 57/100. This is up from 18.9% the prior year.

Altman Z-Score Distress
1.38

Comcast Corp scores 1.38, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral
6/9

Comcast Corp 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.

Earnings Quality Cash-Backed
1.68x

For every $1 of reported earnings, Comcast Corp 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.

Interest Coverage Adequate
4.7x

Comcast Corp 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

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Earnings & Revenue

Revenue
$123.7B
YoY-0.0%
5Y CAGR+3.6%
10Y CAGR+5.2%

Comcast Corp generated $123.7B in revenue in fiscal year 2025. This represents a decrease of 0.0% from the prior year.

EBITDA
$36.9B
YoY-3.2%
5Y CAGR+3.8%
10Y CAGR+4.1%

Comcast Corp'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.

Net Income
$20.0B
YoY+23.5%
5Y CAGR+13.7%
10Y CAGR+9.4%

Comcast Corp reported $20.0B in net income in fiscal year 2025. This represents an increase of 23.5% from the prior year.

EPS (Diluted)
$5.39
YoY+30.2%
5Y CAGR+18.8%
10Y CAGR+12.8%

Comcast Corp 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

Free Cash Flow
$21.9B
YoY+41.3%
5Y CAGR+7.1%
10Y CAGR+7.1%

Comcast Corp 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.

Cash & Debt
$9.5B
YoY+29.5%
5Y CAGR-4.2%
10Y CAGR+15.2%

Comcast Corp held $9.5B in cash against $93.0B in long-term debt as of fiscal year 2025.

Dividends Per Share
$1.32
YoY+6.5%
5Y CAGR+7.5%
10Y CAGR+10.2%

Comcast Corp paid $1.32 per share in dividends in fiscal year 2025. This represents an increase of 6.5% from the prior year.

Shares Outstanding
N/A

Margins & Returns

Gross Margin
N/A
Operating Margin
16.7%
YoY-2.1pp
5Y CAGR-0.2pp
10Y CAGR-4.8pp

Comcast Corp'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.

Net Margin
16.2%
YoY+3.1pp
5Y CAGR+6.0pp
10Y CAGR+5.2pp

Comcast Corp'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.

Return on Equity
20.6%
YoY+1.7pp
5Y CAGR+9.0pp
10Y CAGR+5.0pp

Comcast Corp'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

R&D Spending
N/A
Share Buybacks
$7.2B
YoY-21.4%
5Y CAGR+68.0%
10Y CAGR-0.0%

Comcast Corp 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.

Capital Expenditures
$11.8B
YoY-3.5%
5Y CAGR+5.1%
10Y CAGR+3.3%

Comcast Corp 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.

CMCSA Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $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-1.2% $30.1B
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 $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+14.2% $5.8B
Interest Expense $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+2.4% $1.0B
Income Tax $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+0.6% $1.3B
Net Income $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+1.9% $3.9B
EPS (Diluted) N/A $0.90-69.8% $2.98+234.8% $0.89 N/A $0.94-6.0% $1.00+3.1% $0.97

CMCSA Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $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-0.4% $263.6B
Current Assets $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-2.2% $24.0B
Cash & Equivalents $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-6.9% $6.5B
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $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+0.2% $13.1B
Goodwill $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-0.5% $58.7B
Total Liabilities $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-0.9% $181.1B
Current Liabilities $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-12.4% $40.3B
Long-Term Debt $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+3.2% $94.1B
Total Equity $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+0.8% $82.5B
Retained Earnings $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+1.7% $53.4B

CMCSA Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $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-39.8% $7.8B
Capital Expenditures $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+3.6% $2.6B
Free Cash Flow $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-61.7% $5.2B
Investing Cash Flow -$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+4.1% -$3.5B
Financing Cash Flow -$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+55.4% -$4.0B
Dividends Paid $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+2.7% $1.2B
Share Buybacks $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-14.9% $2.7B

CMCSA Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin 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%+3.0pp 19.3%
Net Margin 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%+0.4pp 12.8%
Return on Equity 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%+0.1pp 4.7%
Return on Assets 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%+0.0pp 1.5%
Current Ratio 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+0.1 0.59
Debt-to-Equity 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+0.0 1.14
FCF Margin 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%-10.6pp 17.4%

Note: The current ratio is below 1.0 (0.88), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Comcast Corp (CMCSA) 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.

Comcast Corp (CMCSA) revenue grew by 0% year-over-year, from $123.7B to $123.7B in fiscal year 2025.

Yes, Comcast Corp (CMCSA) reported a net income of $20.0B in fiscal year 2025, with a net profit margin of 16.2%.

Comcast Corp (CMCSA) reported diluted earnings per share of $5.39 for fiscal year 2025. This represents a 30.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Comcast Corp (CMCSA) had EBITDA of $36.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Comcast Corp (CMCSA) had $9.5B in cash and equivalents against $93.0B in long-term debt.

Comcast Corp (CMCSA) had an operating margin of 16.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Comcast Corp (CMCSA) had a net profit margin of 16.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Comcast Corp (CMCSA) paid $1.32 per share in dividends during fiscal year 2025.

Comcast Corp (CMCSA) has a return on equity of 20.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Comcast Corp (CMCSA) 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.

Comcast Corp (CMCSA) generated $33.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Comcast Corp (CMCSA) had $272.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Comcast Corp (CMCSA) invested $11.8B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Comcast Corp (CMCSA) spent $7.2B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Comcast Corp (CMCSA) had a current ratio of 0.88 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Comcast Corp (CMCSA) 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.

Comcast Corp (CMCSA) had a return on assets of 7.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Comcast Corp (CMCSA) has an Altman Z-Score of 1.38, 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.

Comcast Corp (CMCSA) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Comcast Corp (CMCSA) 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.

Comcast Corp (CMCSA) 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.

Comcast Corp (CMCSA) 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.

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