Comcast (CMCSA) AI Stock Analysis

• Market Cap: $109.73B
• Dividend Yield: 4.42%
• Average Volume (3M): 30.53M
• Price to Earnings (P/E): 5.5
• Beta (1Y): 0.35
• Revenue Growth: 0.20%
• EPS Growth: 61.54%
• Country: US
• Employees: 182,000
• Sector: Communication Services
• Sector Strength: 97
• Industry: Telecommunications Services
• EPS (TTM): 0.84
• Shares Outstanding: 3,634,450,200
• 10 Day Avg. Volume: 43,951,341
• 30 Day Avg. Volume: 30,532,787
• PEG Ratio: 0.17
• Price to Book (P/B): 1.05
• Price to Sales (P/S): 0.82
• P/FCF Ratio: 4.65
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: 0.87
• Enterprise Value/Gross Profit: 1.44
• Enterprise Value/Ebitda: 2.31
• 1Y Price Target: $34.08
• Price Target Upside: 11.74% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 18
• EPS Forecast (FY): 3.71
• Revenue Forecast (FY): $122.72B

• Rating: 80 Outperform
• Price Target: $34.00 ▲(11.48% Upside)

The score is driven primarily by strong financial performance (healthy margins and robust free cash flow) and very compelling valuation (low P/E and high dividend yield). Technicals are moderately supportive with positive momentum. The main constraint is earnings-call guidance pointing to near-term broadband and segment EBITDA pressure and less favorable cash-tax benefits in 2026.

Positive Factors

Record free cash flow

Sustained, very large free cash flow provides durable financial flexibility. It funds dividends, buybacks, and strategic reinvestment while absorbing cyclical shocks. Even after one-time tax items, FCF scale supports long-term capital allocation and de-levering priorities.

Wireless convergence growth

Rapid wireless net-adds deepen Comcast's converged offering, increasing customer stickiness and cross-sell potential. Over 9M lines and rising penetration create a durable multi-product revenue stream that can lift ARPU and lifetime value as free lines convert to paid over time.

Network modernization benefits

Material operational improvements from virtualization and automation lower service costs and reduce churn risk. Persistent reductions in trouble calls and repair minutes translate to sustainable margin uplift, higher NPS, and lower service OPEX across the broadband base over years.

Negative Factors

Broadband subscriber and ARPU pressure

Structural ARPU pressure and net subscriber losses from a major pricing simplification risk slower revenue per customer for multiple quarters. Given broadband is core to revenue, persistent ARPU weakness can compress segment EBITDA and constrain long-term revenue growth.

Heavy, sustained capex burden

Very large ongoing Connectivity & Platforms investment is strategic but creates a multi-year cash outflow profile that limits free cash flow available for other uses. High structural capex can slow deleveraging and reduce flexibility for M&A or larger shareholder returns.

Versant spin reduces recurring cash flow

Spinning Versant removes a meaningful pool of media cash flow and narrows Comcast's asset mix toward connectivity and NBCUniversal. The loss of those cash flows and the modest post‑spin leverage increase could pressure FCF and capital allocation flexibility over the medium term.

Comcast Business Overview & Revenue Model

Company Description

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services. The Media segment operates NBCUniversal's television and streaming platforms, including national, regional, and international cable networks, the NBC and Telemundo broadcast, and Peacock networks. The Studios segment operates NBCUniversal's film and television studio production and distribution operations. The Theme Parks segment operates Universal theme parks in Orlando, Florida; Hollywood, California; Osaka, Japan; and Beijing, China. The Sky segment offers direct-to-consumer services, such as video, broadband, voice and wireless phone services, and content business operates entertainment networks, the Sky News broadcast network, and Sky Sports networks. The company also owns the Philadelphia Flyers, as well as the Wells Fargo Center arena in Philadelphia, Pennsylvania; and provides streaming service, such as Peacock. Comcast Corporation was founded in 1963 and is headquartered in Philadelphia, Pennsylvania.

How the Company Makes Money

Comcast generates revenue primarily through its subscription-based services. The Comcast Cable segment earns money from the provision of cable television services, broadband internet access, and digital voice services, with significant revenue coming from monthly subscriptions and bundled service packages. The company also generates income from advertising sales on its cable networks and from its streaming service, Peacock. Additionally, the NBCUniversal segment contributes to revenue through theatrical releases, television production, and licensing deals, as well as from its theme parks. Strategic partnerships with content providers and advertisers further enhance Comcast's ability to monetize its media assets and expand its customer base.

Comcast Financial Statement Overview

Summary

Strong profitability and cash generation (TTM ~60% gross margin, ~16% net margin; operating cash flow ~$33.6B and free cash flow ~$21.9B). Offsetting risks include historically higher leverage versus the unusually low TTM debt-to-equity snapshot and past earnings volatility (notably the 2022 net income dip), plus modest multi-year revenue growth.

Income Statement

Profitability and consistency are solid: TTM (Trailing-Twelve-Months) gross margin is ~60% and net margin is ~16%, with net income rising versus 2024. Revenue has been essentially flat from 2023–2025 (TTM revenue roughly in line with 2024), but the TTM revenue growth rate shown (0.32) points to a meaningful recent re-acceleration. The main weakness is volatility in profitability across the period, highlighted by the sharp net income dip in 2022 (net margin ~4%), which underscores earnings sensitivity to one-time items and cost pressure.

Balance Sheet

Balance sheet quality looks improved in TTM (Trailing-Twelve-Months) with low leverage shown (debt-to-equity ~0.06) and strong shareholder returns (return on equity ~21%). However, prior annual periods (2020–2024) show materially higher leverage (debt-to-equity roughly ~1.0–1.24), indicating leverage has historically been a meaningful part of the capital structure. Equity is sizable, but the sharp shift in debt levels between 2024 and TTM warrants caution when interpreting the latest leverage snapshot.

Cash Flow

Cash generation is a key strength: TTM (Trailing-Twelve-Months) operating cash flow is ~$33.6B and free cash flow is ~$21.9B, both up versus 2024, with a strong free cash flow growth figure provided (4.417). Free cash flow covers a healthy portion of earnings (free cash flow is ~65% of net income in TTM), supporting flexibility for debt service, buybacks, and reinvestment. The main weakness is that operating cash flow relative to net income is only about 1.0x in TTM (and sub-1.0x in several prior years), suggesting earnings quality is good but not consistently “cash over-earning.”

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	123.71B	123.73B	121.57B	121.43B	116.39B
Gross Profit	74.31B	71.90B	70.47B	69.39B	64.13B
EBITDA	46.38B	37.61B	38.90B	27.00B	36.97B
Net Income	19.80B	16.19B	15.39B	5.37B	14.16B
Balance Sheet
Total Assets	272.63B	266.21B	264.81B	257.27B	275.90B
Cash, Cash Equivalents and Short-Term Investments	9.48B	7.32B	6.21B	4.75B	8.71B
Total Debt	110.44B	99.09B	109.51B	99.98B	100.02B
Total Liabilities	175.25B	179.94B	181.34B	175.24B	177.90B
Stockholders Equity	96.90B	85.56B	82.70B	80.94B	96.09B
Cash Flow
Free Cash Flow	21.89B	15.49B	12.96B	12.65B	17.09B
Operating Cash Flow	33.64B	27.67B	28.50B	26.41B	29.15B
Investing Cash Flow	-16.16B	-15.67B	-7.16B	-14.14B	-13.45B
Financing Cash Flow	-14.35B	-10.88B	-19.85B	-16.18B	-18.62B

Comcast Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 30.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CMCSA, the sentiment is Positive. The current price of 30.5 is above the 20-day moving average (MA) of 28.80, above the 50-day MA of 27.26, and above the 200-day MA of 29.28, indicating a bullish trend. The MACD of 0.70 indicates Negative momentum. The RSI at 68.53 is Neutral, neither overbought nor oversold. The STOCH value of 80.86 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CMCSA.

Comcast Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CMCSA	80 Outperform	$109.73B	5.52	21.92%	4.42%	0.20%	61.54%
VZ	75 Outperform	$198.21B	11.39	16.86%	6.60%	2.42%	102.17%
DIS	69 Neutral	$189.64B	15.36	11.65%	1.10%	3.61%	152.34%
T	67 Neutral	$192.97B	8.83	20.43%	4.56%	1.98%	150.68%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
LBTYA	58 Neutral	$3.82B	-1.03	―	―	―	―
CHTR	57 Neutral	$31.86B	6.18	31.52%	―	0.42%	13.46%

Comcast Corporate Events

Comcast Completes Spin-Off of Versant Media Group

On January 5, 2026, Comcast announced it had completed the previously disclosed separation of Versant Media Group, Inc., effective as of 11:59 p.m. Eastern Time on January 2, 2026, turning Versant into an independent, publicly traded media and entertainment company listed on Nasdaq under the ticker VSNT. Comcast distributed 100% of Versant’s Class A and Class B common stock to Comcast shareholders of record as of December 16, 2025, on a one-for-25 share basis, with fractional shares settled in cash, leaving Comcast with no remaining ownership stake in Versant and effectively carving out a portfolio of cable networks and digital assets—including CNBC, USA Network, Golf Channel, E!, SYFY, Fandango, Rotten Tomatoes, GolfNow, and GolfPass—into a standalone entity that may sharpen strategic focus for both companies and alter competitive dynamics across news, sports, and entertainment niches.

The most recent analyst rating on (CMCSA) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on Comcast stock, see the CMCSA Stock Forecast page.

Comcast Finalizes New Co-CEO Employment Agreement for Cavanagh

On December 19, 2025, Comcast entered into a new employment agreement with Michael J. Cavanagh in connection with his planned elevation to Co-Chief Executive Officer on January 2, 2026, securing his role through January 1, 2029. The deal includes a $2.75 million annual base salary, an annual performance-based cash bonus target equal to 300% of his salary, and a performance-based restricted stock unit grant valued at about $35 million that cliff vests after three years subject to time and performance conditions, with detailed vesting protections in the event of resignation for good reason, termination without cause, death, or disability, underscoring Comcast’s long-term commitment to leadership continuity and performance-linked executive compensation.

The most recent analyst rating on (CMCSA) stock is a Sell with a $29.00 price target. To see the full list of analyst forecasts on Comcast stock, see the CMCSA Stock Forecast page.

Comcast Announces Redemption of Outstanding Notes

On December 16, 2025, Comcast Corporation announced its decision to redeem all outstanding amounts of its 3.15% Notes due March 1, 2026, and 5.350% Notes due November 15, 2027, totaling approximately $2.75 billion. The redemption, scheduled for January 15, 2026, reflects Comcast’s strategic financial management, potentially impacting its debt profile and signaling confidence in its financial position.

The most recent analyst rating on (CMCSA) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on Comcast stock, see the CMCSA Stock Forecast page.

Comcast Amends Corporate Structure for Spin-Off Plans

On December 15, 2025, Comcast Corporation filed Amended and Restated Articles of Incorporation to streamline its corporate structure by removing obsolete references and integrating previous amendments. Concurrently, Comcast designated a new Class A Equivalent Preferred Stock as part of its strategic plan to spin off certain cable networks and digital assets into Versant Media Group, Inc. The issuance of Preferred Shares to its subsidiaries is intended to prevent them from receiving SpinCo Common Stock in the spin-off, with provisions for redemption into Comcast’s Class A Common Stock if the spin-off is completed.

The most recent analyst rating on (CMCSA) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on Comcast stock, see the CMCSA Stock Forecast page.

Comcast Announces Spin-Off of Versant Media Group

On December 3, 2025, Comcast Corporation’s Board of Directors approved the separation of its cable television networks and digital platforms into a new independent company, Versant Media Group, Inc. This separation will occur through a distribution of Versant shares to Comcast shareholders, expected to be completed on January 2, 2026. Versant will become a publicly traded company on Nasdaq, with Comcast retaining no ownership. The move is expected to enhance Comcast’s strategic focus and market positioning, while Versant will operate independently, leveraging its portfolio of media assets.

The most recent analyst rating on (CMCSA) stock is a Hold with a $30.00 price target. To see the full list of analyst forecasts on Comcast stock, see the CMCSA Stock Forecast page.