Comcast Corp (CMCSA)
NASDAQ:CMCSA
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Comcast
(NASDAQ:CMCSA)
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Rating:72Outperform
Price Target:
$28.00
▼(-5.50% Downside)
Action:Reiterated
Date:06/04/26
The score is led by strong valuation (very low P/E and high dividend yield) and solid underlying financial quality (healthy margins and large free cash flow). These positives are tempered by weak technical momentum (below major moving averages with negative MACD) and near-term operating/margin pressures highlighted on the earnings call (ARPU and EBITDA pressure expected into Q2 despite a potential H2 monetization tailwind).
Positive Factors
Strong cash generation
High and consistent operating and free cash flow provide durable financial flexibility to fund network investment, content, parks capex, buybacks, and dividends while supporting liability management. This base cash generation underpins strategic optionality over the next several quarters.
Negative Factors
Elevated leverage
Meaningful leverage constrains financial flexibility and increases sensitivity to interest rate moves or cashflow shocks. While equity is sizable, sustained investment or weaker cashflow could limit capacity for opportunistic M&A, capital returns, or faster deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
High and consistent operating and free cash flow provide durable financial flexibility to fund network investment, content, parks capex, buybacks, and dividends while supporting liability management. This base cash generation underpins strategic optionality over the next several quarters.
Read all positive factors
Comcast Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down revenue across different business segments, revealing which areas are driving growth and where there might be challenges or opportunities.
Breaks down revenue across different business segments, revealing which areas are driving growth and where there might be challenges or opportunities.
Data provided by:
The Fly
The FlyComcast (CMCSA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$88.77B
Dividend Yield4.42%
Average Volume (3M)32.80M
Price to Earnings (P/E)4.5
Beta (1Y)0.39
Revenue Growth1.39%
EPS Growth24.78%
CountryUS
Employees182,000
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)5.08
Shares Outstanding3,562,784,200
10 Day Avg. Volume30,526,816
30 Day Avg. Volume32,801,236
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)1.05
Price to Sales (P/S)0.82
P/FCF Ratio4.65
Enterprise Value/Market Cap1.96
Enterprise Value/Revenue1.39
Enterprise Value/Gross Profit1.98
Enterprise Value/Ebitda3.89
Forecast
1Y Price Target
$33.59Price Target Upside13.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering13
EPS Forecast (FY)3.53
Revenue Forecast (FY)$121.77B
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...
How the Company Makes Money
Comcast generates revenue primarily through (1) subscription and service fees from connectivity and pay-TV, (2) advertising sales across its media networks and platforms, (3) content production and distribution, and (4) theme park admissions and i...
Comcast Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call presents a constructive mix of operational progress and near-term financial headwinds. Management reported meaningful early wins — record wireless net adds, improved broadband losses, strong Peacock subscriber growth, robust sports and advertising results, strong parks and studios performance, and solid free cash flow and shareholder returns. However, these positives are offset by near-term margin pressure driven by go-to-market investments (including bundled free wireless lines), first-year NBA rights dilution impacting Media EBITDA and broadband ARPU pressure that likely persists into Q2. Management describes these impacts as intentional investments with monetization and margin recovery expected later in the year, and the narrative emphasized confidence in the strategic pivot and the company’s ability to convert free lines to paid relationships.Positive Updates
Revenue Growth
Consolidated revenue increased 11% year-over-year in Q1 on a pro forma basis, benefiting from NBCUniversal events (Milan Cortina Olympics and Super Bowl). Excluding those events, revenue grew in the low single digits.
Negative Updates
Adjusted EBITDA Decline
Adjusted EBITDA declined 9% year-over-year for the quarter, reflecting investment and the first-year costs of the new NBA contract alongside broadband go-to-market changes.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Consolidated revenue increased 11% year-over-year in Q1 on a pro forma basis, benefiting from NBCUniversal events (Milan Cortina Olympics and Super Bowl). Excluding those events, revenue grew in the low single digits.
Read all positive updates
Company Guidance
The company gave forward-looking color that broadband ARPU pressure should intensify modestly in Q2 but begin to ease as the year exits as free wireless lines monetize, with management expecting a “significant majority” of free lines to convert to paid in H2 and to provide a tailwind to convergence revenue and ARPA (convergence ARPA today ~ $85); Q1 operating metrics included broadband net losses improving ~117,000 YoY to a ~65,000 net loss, broadband ARPU down ~3.1%, convergence revenue down 2.8% and convergence ARPA down 0.8% (wireless service revenue +15%), 435,000 net wireless lines added (record quarterly), 9.7 million total lines (16% penetration of the residential broadband base), monthly data usage +10%, connects up for the first time in >4 years, and improving voluntary churn and NPS; company-wide revenue rose 11% (ex-event growth low-single-digits), adjusted EBITDA declined 9% (Connectivity & Platforms EBITDA down ~4.7%), Media saw roughly $2.0–$2.2 billion incremental event revenue (Legendary February), Peacock added ~2M net subs with revenue up >70% and paid subs ~46M (Peacock EBITDA loss ~$432M but expected to approach profitability next quarter as Q1 represented peak NBA-related dilution), Parks revenue +24% and EBITDA +33% (adjusted >7%), free cash flow was $3.9B with $2.5B returned to shareholders this quarter (including $1.25B repurchases and $1.2B dividends), and management reaffirmed a path to ~2.3x net leverage as VERSANT falls out of the trailing calculation.Comcast Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
68
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 125.28B | 123.71B | 123.73B | 121.57B | 121.43B | 116.39B |
| Gross Profit | 87.86B | 88.76B | 86.70B | 84.81B | 83.21B | 77.94B |
| EBITDA | 44.69B | 46.39B | 37.61B | 38.90B | 27.00B | 37.18B |
| Net Income | 18.80B | 20.00B | 16.19B | 15.39B | 5.37B | 14.16B |
Balance Sheet | ||||||
| Total Assets | 260.00B | 272.63B | 266.21B | 264.81B | 257.27B | 275.90B |
| Cash, Cash Equivalents and Short-Term Investments | 9.47B | 9.48B | 7.32B | 6.21B | 4.75B | 8.71B |
| Total Debt | 94.61B | 110.44B | 99.09B | 109.51B | 99.98B | 100.02B |
| Total Liabilities | 171.67B | 175.25B | 179.94B | 181.34B | 175.24B | 177.90B |
| Stockholders Equity | 88.27B | 96.90B | 85.56B | 82.70B | 80.94B | 96.09B |
Cash Flow | ||||||
| Free Cash Flow | 20.39B | 21.89B | 15.49B | 12.96B | 12.65B | 17.09B |
| Operating Cash Flow | 32.24B | 33.64B | 27.67B | 28.50B | 26.41B | 29.15B |
| Investing Cash Flow | -16.12B | -16.16B | -15.67B | -7.16B | -14.14B | -13.45B |
| Financing Cash Flow | -15.28B | -14.35B | -10.88B | -19.85B | -16.18B | -18.62B |
Comcast Technical Analysis
Negative
29.63
Price Trends
26.97
Negative
28.42
Negative
27.88
Negative
Market Momentum
-0.74
Negative
26.28
Positive
22.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CMCSA, the sentiment is Negative. The current price of 29.63 is above the 20-day moving average (MA) of 25.08, above the 50-day MA of 26.97, and above the 200-day MA of 27.88, indicating a bearish trend. The MACD of -0.74 indicates Negative momentum. The RSI at 26.28 is Positive, neither overbought nor oversold. The STOCH value of 22.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CMCSA.
Comcast Risk Analysis
Comcast disclosed 20 risk factors in its most recent earnings report. Comcast reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Comcast Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $176.10B | 15.65 | 10.29% | 1.10% | 4.02% | 27.66% | |
72 Outperform | $88.77B | 4.53 | 19.83% | 4.42% | 1.39% | 24.78% | |
71 Outperform | $199.88B | 11.31 | 16.68% | 6.60% | 2.85% | -2.51% | |
66 Neutral | $171.21B | 7.71 | 19.59% | 4.56% | 2.92% | 83.12% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
56 Neutral | $4.09B | -0.69 | -48.58% | ― | ― | ― | |
51 Neutral | $19.43B | 3.28 | 30.84% | ― | -0.92% | 3.13% |
* Communication Services Sector Average
CMCSA
Comcast
23.52
-7.19
-23.42%
T
AT&T
23.55
-3.05
-11.47%
CHTR
Charter Communications
129.01
-262.26
-67.03%
LBTYA
Liberty Global A
11.74
2.02
20.78%
VZ
Verizon
46.65
6.08
14.99%
DIS
Walt Disney
99.39
-11.91
-10.70%
Comcast Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Comcast Expands Cash Tender Offers to Cut Debt
Positive
Jun 3, 2026
On June 3, 2026, Comcast Corporation and its subsidiary Comcast Cable Communications, LLC reported the results of their previously announced cash tender offers for a range of outstanding senior notes maturing between 2027 and 2030. The companies i...
Business Operations and StrategyPrivate Placements and Financing
Comcast Announces Pricing for Senior Notes Tender Offers
Positive
Jun 2, 2026
On June 2, 2026, Comcast Corporation and Comcast Cable Communications, LLC announced the pricing terms for previously launched cash tender offers to purchase any and all of 13 series of outstanding senior notes maturing between 2027 and 2030. The ...
Business Operations and StrategyPrivate Placements and Financing
Comcast Announces Cash Tender Offers to Repurchase Debt
Positive
May 27, 2026
On May 27, 2026, Comcast Corporation and its subsidiary Comcast Cable Communications launched a series of cash tender offers to repurchase any and all of 13 tranches of outstanding senior notes maturing between 2027 and 2030. The program covers bo...
Business Operations and StrategyFinancial Disclosures
Comcast Updates Reporting Structure After Versant Spin-Off
Positive
Mar 16, 2026
Beginning in the first quarter of 2026, Comcast implemented a revised reporting structure and customer metrics, recasting historical financials to reflect the January 2, 2026 separation of Versant Media Group as an independent Nasdaq-listed compan...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.