Financials Comcast Corporation

Equities

CMCSA

US20030N1019

Wireless Telecommunications Services

Market Closed - Nasdaq Other stock markets 01:30:00 12/07/2025 am IST			5-day change	1st Jan Change
34.99 ^USD	-1.21%		-2.78%	-6.77%

11/07	Scotiabank Adjusts Comcast's Price Target to $45 From $44.50, Keeps Sector Perform Rating	MT
10/07	T-Mobile ending DEI programs as it seeks US FCC approval for 2 deals	RE

Projected Income Statement: Comcast Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	1,03,564	1,16,385	1,21,427	1,21,572	1,23,731	1,22,472	1,26,018	1,25,798
Change	-	12.38%	4.33%	0.12%	1.78%	-1.02%	2.9%	-0.17%
EBITDA ¹	30,826	34,708	36,459	37,633	38,069	37,703	38,285	38,363
Change	-	12.59%	5.04%	3.22%	1.16%	-0.96%	1.54%	0.2%
EBIT ¹	17,493	20,817	22,624	23,314	23,297	22,504	22,819	22,968
Change	-	19%	8.68%	3.05%	-0.07%	-3.4%	1.4%	0.65%
Interest Paid ¹	-4,588	-4,281	-3,896	-4,087	-4,134	-4,157	-4,208	-4,369
Earnings before Tax (EBT) ¹	14,065	19,093	9,284	20,478	18,673	18,233	18,881	18,897
Change	-	35.75%	-51.37%	120.57%	-8.81%	-2.36%	3.55%	0.09%
Net income ¹	10,534	14,159	5,370	15,388	16,192	13,727	14,082	14,074
Change	-	34.41%	-62.07%	186.55%	5.22%	-15.22%	2.59%	-0.06%
Announcement Date	28/01/21	27/01/22	26/01/23	25/01/24	30/01/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	23,715	25,532	27,708	27,205	28,546	30,298	30,336	31,010	30,016	29,849	30,552	29,691	30,513	30,115	31,253	30,058	29,688	32,070	31,915	29,887	29,806	30,660	32,153	32,043	30,324	30,921	32,276
Change	-	7.66%	8.52%	-1.82%	4.93%	6.14%	0.13%	2.22%	-3.21%	-0.56%	2.36%	-2.82%	2.77%	-1.3%	3.78%	-3.82%	-1.23%	8.02%	-0.48%	-6.35%	-0.27%	2.86%	4.87%	-0.34%	-5.37%	1.97%	4.38%
EBITDA ¹	7,927	7,583	7,186	8,413	8,927	8,957	8,411	9,150	9,827	9,482	8,000	9,415	10,244	9,962	8,012	9,355	10,171	9,735	8,807	9,532	10,004	9,665	8,551	9,762	10,056	9,757	8,837
Change	-	-4.34%	-5.24%	17.07%	6.11%	0.34%	-6.1%	8.79%	7.4%	-3.51%	-15.63%	17.69%	8.81%	-2.75%	-19.57%	16.76%	8.72%	-4.29%	-9.53%	8.23%	4.95%	-3.39%	-11.52%	14.16%	3.01%	-2.97%	-9.44%
EBIT ¹	4,647	4,076	3,918	5,039	5,507	5,450	4,821	5,569	6,367	6,158	4,530	5,646	6,709	6,475	4,484	5,810	6,635	5,859	4,993	5,658	6,240	5,843	4,684	6,141	6,370	5,790	4,642
Change	-	-12.29%	-3.88%	28.61%	9.29%	-1.04%	-11.54%	15.52%	14.33%	-3.28%	-26.44%	24.64%	18.83%	-3.49%	-30.75%	29.57%	14.2%	-11.7%	-14.78%	13.32%	10.28%	-6.36%	-19.84%	31.13%	3.71%	-9.11%	-19.81%
Charge d'intérêts ¹	-1,112	-1,220	-1,044	-1,018	-1,093	-1,050	-1,120	-993	-968	-960	-974	-1,010	-998	-1,060	-1,020	-1,002	-1,026	-1,037	-1,069	-1,050	-1,039	-1,039	-1,041	-1,077	-1,073	-1,075	-1,079
Earnings before Tax (EBT) ¹	3,955	2,770	4,416	4,411	5,630	5,166	3,885	4,764	4,502	-3,652	3,670	5,243	5,726	5,465	4,043	5,105	5,175	4,819	3,574	4,492	5,213	4,854	3,652	5,060	5,530	4,920	3,769
Change	-	-29.96%	59.42%	-0.11%	27.64%	-8.24%	-24.8%	22.63%	-5.5%	-181.12%	200.49%	42.86%	9.21%	-4.56%	-26.02%	26.27%	1.37%	-6.88%	-25.84%	25.69%	16.04%	-6.89%	-24.76%	38.58%	9.28%	-11.04%	-23.39%
Net income ¹	2,988	2,019	3,380	3,329	3,738	4,035	3,057	3,549	3,396	-4,598	3,024	3,834	4,248	4,046	3,260	3,857	3,929	3,629	4,778	3,375	3,950	3,638	2,746	3,947	4,316	3,848	2,993
Change	-	-32.43%	67.41%	-1.51%	12.29%	7.95%	-24.24%	16.09%	-4.31%	-235.39%	165.77%	26.79%	10.8%	-4.76%	-19.43%	18.31%	1.87%	-7.64%	31.66%	-29.36%	17.05%	-7.91%	-24.51%	43.73%	9.35%	-10.85%	-22.21%
Announcement Date	30/07/20	29/10/20	28/01/21	29/04/21	29/07/21	28/10/21	27/01/22	28/04/22	28/07/22	27/10/22	26/01/23	27/04/23	27/07/23	26/10/23	25/01/24	25/04/24	23/07/24	31/10/24	30/01/25	24/04/25	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Comcast Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	92,020	91,309	90,062	90,875	91,771	89,766	90,011	90,951
Change	-	-0.77%	-1.37%	0.9%	0.99%	-2.18%	0.27%	1.04%
Announcement Date	28/01/21	27/01/22	26/01/23	25/01/24	30/01/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Comcast Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	9,179	9,174	10,626	12,242	12,181	11,237	11,314	11,212
Change	-	-0.05%	15.83%	15.21%	-0.5%	-7.75%	0.69%	-0.9%
Free Cash Flow (FCF) ¹	13,280	17,089	12,646	12,962	12,543	15,861	15,431	15,020
Change	-	28.68%	-26%	2.5%	-3.23%	26.45%	-2.71%	-2.66%
Announcement Date	28/01/21	27/01/22	26/01/23	25/01/24	30/01/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Comcast Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	29.77%	29.82%	30.03%	30.96%	30.77%	30.79%	30.38%	30.5%
EBIT Margin (%)	16.89%	17.89%	18.63%	19.18%	18.83%	18.38%	18.11%	18.26%
EBT Margin (%)	13.58%	16.41%	7.65%	16.84%	15.09%	14.89%	14.98%	15.02%
Net margin (%)	10.17%	12.17%	4.42%	12.66%	13.09%	11.21%	11.17%	11.19%
FCF margin (%)	12.82%	14.68%	10.41%	10.66%	10.14%	12.95%	12.25%	11.94%
FCF / Net Income (%)	126.07%	120.69%	235.49%	84.23%	77.46%	115.54%	109.58%	106.72%
Profitability
ROA	3.92%	5.15%	6.06%	5.89%	6.38%	5.52%	5.36%	5.5%
ROE	12.17%	16.14%	18.24%	20.16%	20.13%	16.78%	17.37%	16.88%
Financial Health
Leverage (Debt/EBITDA)	2.99x	2.63x	2.47x	2.41x	2.41x	2.38x	2.35x	2.37x
Debt / Free cash flow	6.93x	5.34x	7.12x	7.01x	7.32x	5.66x	5.83x	6.06x
Capital Intensity
CAPEX / Current Assets (%)	8.86%	7.88%	8.75%	10.07%	9.84%	9.17%	8.98%	8.91%
CAPEX / EBITDA (%)	29.78%	26.43%	29.15%	32.53%	32%	29.8%	29.55%	29.23%
CAPEX / FCF (%)	69.12%	53.68%	84.03%	94.45%	97.11%	70.84%	73.32%	74.64%
Items per share
Cash flow per share ¹	5.35	6.263	5.962	6.871	7.081	8.083	8.352	8.734
Change	-	17.06%	-4.79%	15.24%	3.06%	14.15%	3.33%	4.58%
Dividend per Share ¹	0.92	1	1.08	1.16	1.24	1.318	1.404	1.498
Change	-	8.7%	8%	7.41%	6.9%	6.27%	6.57%	6.69%
Book Value Per Share ¹	19.53	20.65	18.27	19.94	21.89	24.23	26.94	29.78
Change	-	5.7%	-11.5%	9.12%	9.81%	10.69%	11.16%	10.56%
EPS ¹	2.28	3.04	1.21	3.71	4.14	3.681	4.01	4.321
Change	-	33.33%	-60.2%	206.61%	11.59%	-11.08%	8.94%	7.75%
Nbr of stocks (in thousands)	45,75,323	45,68,923	43,23,409	40,25,080	38,26,540	37,33,704	37,33,704	37,33,704
Announcement Date	28/01/21	27/01/22	26/01/23	25/01/24	30/01/25	-	-	-