COMCAST CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data COMCAST CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	80,736	85,029	94,507	108,942	103,564	116,385	121,427	121,572	123,731	123,707
Selling and marketing	6,291	6,519	7,036	7,617	6,741	7,695	8,506	7,971	8,073	8,862
Operating income	16,831	18,018	19,009	21,125	17,493	20,817	14,041	23,314	23,297	20,672
Interest expense	2,942	3,086	3,542	4,567	4,588	4,281	3,896	4,087	4,134	4,409
Interest income	123	136
Other non-operating income	437	421	-225	438	1,160	2,557	-861	1,252	-490	9,503
Pre-tax income	14,326	15,353	15,242	16,996	14,065	19,093	9,284	20,478	18,673	25,766
Income tax	5,298	-7,569	3,380	3,673	3,364	5,259	4,359	5,371	2,796	6,106
Net income to minority interests					167	-325	-445	-282	-315	-338
Net income	8,678	22,735	11,731	13,057	10,534	14,159	5,370	15,388	16,192	19,998
EBITDA	26,257	28,148	30,026	34,078	30,593	34,621	27,862	37,650	38,099	36,882
EPS, basic	1.80	4.83	2.56	2.87	2.30	3.09	1.22	3.73	4.17	5.41
EPS, diluted	1.78	4.75	2.53	2.83	2.28	3.04	1.21	3.71	4.14	5.39
Shares, basic (weighted)	4,819	4,708	4,584	4,548	4,574	4,584	4,406	4,122	3,885	3,699
Shares, diluted (weighted)	4,875	4,786	4,640	4,610	4,624	4,654	4,430	4,148	3,908	3,709
Dividend per share	0.55	0.63	0.76	0.84	0.92	1.00	1.08	1.16	1.24	1.32

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	3,301	3,428	3,814	5,500	11,740	8,711	4,749	6,215	7,322	9,481
Short-term investments	97	19	94	1,709	292	368	402	310	21	14
Receivables	7,955	8,834	11,104	11,292	11,466	12,008	12,672	13,813	13,661	13,869
Other current assets	2,083	2,468	3,184	4,723	3,535	4,088	4,406	3,959	5,817	6,217
Total current assets	16,361	16,343	21,848	25,392	26,741	24,807	21,826	23,987	26,801	29,567
Property, plant and equipment	36,253	38,470	44,437	48,322	51,995	54,047	55,485	59,686	62,548	65,680
Lease right-of-use assets				4,038	3,784	6,467	5,997	5,786	5,524	5,287
Goodwill	35,980	36,780	66,154	68,725	70,700	70,200	58,500	59,300	58,209	61,502
Long-term investments	5,247	6,931	7,883	6,989	7,820	8,082	7,740	9,385	8,647	7,952
Other non-current assets	2,769	4,354	5,802	8,866	8,103	12,424	12,497	12,333	12,501	13,877
Total assets	180,500	187,462	251,684	263,414	273,869	275,905	257,275	264,811	266,211	272,631
Accounts payable	6,915	6,908	8,494	10,826	11,364	12,455	12,544	12,437	11,321	11,058
Accrued liabilities	6,282	6,620	10,721	10,516	9,617	9,899	9,450	13,284	10,679	12,410
Deferred revenue	1,132	1,687	2,182	2,768	2,963	3,040	2,380	3,242	3,507	4,097
Short-term debt	5,480	5,134	4,398	4,452	3,146	2,132	1,743	2,069	4,907	5,958
Total current liabilities	21,535	21,993	27,603	30,292	28,796	29,348	27,887	40,198	39,581	33,524
Long-term debt	55,566	59,422	107,345	97,765	100,614	92,718	93,068	95,021	94,186	92,979
Lease liabilities				3,891	3,740	6,473	6,107	5,838	5,569	5,410
Other non-current liabilities	10,925	10,972	15,329	16,765	18,222	20,620	20,395	20,122	20,942	20,965
Total liabilities	124,337	118,003	179,182	179,540	182,131	178,415	175,648	181,585	180,173	175,480
Total debt	61,046	64,556	111,743	102,217	103,760	94,800	94,800	97,100	99,100	98,900
Paid-in capital	38,230	37,497	37,461	38,447	39,464	40,173	39,412	38,533	38,102	37,709
Retained earnings	23,076	38,202	41,983	50,695	56,438	61,902	51,609	52,892	56,972	66,675
Treasury stock	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517	-7,517
Other comprehensive income	98	379	-368	1,047	1,884	1,480	-2,611	-1,253	-2,043	-8
Shareholders' equity	53,943	68,616	71,613	82,726	90,323	96,092	80,943	82,703	85,560	96,903
Minority interests	2,231	843	889	1,148	1,415	1,398	684	523	477	249
Total equity	56,163	69,459	72,502	83,874	91,738	97,490	81,627	83,226	86,038	97,151
Total liabilities and equity	180,500	187,462	251,684	263,414	273,869	275,905	257,275	264,811	266,211	272,631

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	9,028	22,922	11,862	13,323	10,701	13,833	4,925	15,107	15,877	19,660
Depreciation and amortization	9,426	10,130	11,017	12,953	13,100	13,804	13,821	14,336	14,802	16,210
Stock-based compensation	640	751	826	1,021	1,193	1,315	1,336	1,241	1,288	1,288
Deferred income tax	1,434	-10,646	290	563	-550	1,892	-834	-2,739	-902	2,674
Change in payables	378	173	-394	-347	-266	765	497	-520	-758	-20
Cash from operations	19,691	21,261	24,297	25,697	24,737	29,146	26,413	28,501	27,673	33,643
Capital expenditures	-9,135	-9,550	-9,774	-9,953	-9,179	-9,174	-10,626	-12,242	-12,181	-11,750
Acquisitions	-3,929	-532	-38,219	-370	-233	-1,374	-12	0	-119	-1,306
Purchases of investments	-1,697	-2,292	-1,257	-1,899	-812	-174	-2,274	-1,313	-1,082	-1,302
Cash from investing	-18,265	-13,533	-50,854	-14,841	-12,047	-13,446	-14,140	-7,161	-15,670	-16,157
Debt issued	9,231	11,466	44,781	5,479	18,644	2,628	2,745	6,052	6,268	3,494
Debt repaid							-2,307	-4,015	-3,573	-5,740
Stock issued	23	0	0
Share buybacks	-5,352	-5,435	-5,320	-504	-534	-4,672	-13,328	-11,291	-9,103	-7,155
Dividends paid	-2,601	-2,883	-3,352	-3,735	-4,140	-4,532	-4,741	-4,766	-4,814	-4,894
Cash from financing	-434	-7,572	27,140	-9,181	-6,513	-18,618	-16,184	-19,850	-10,883	-14,346
Exchange rate effect	0	0	-245	5	2	-71	-86	9	-26	42
Net change in cash	992	156	338	1,680	6,179	-2,989	-3,997	1,500	1,095	3,182
Free cash flow	10,556	11,711	14,523	15,744	15,558	19,972	15,787	16,259	15,492	21,893
Interest paid	2,565	2,820	2,897	4,254	3,878	3,908	3,413	3,711	3,657	3,871
Income taxes paid	3,693	4,057	2,355	3,231	3,183	2,628	5,265	5,107	7,096	755

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $64.67 on September 8, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	14.7%	Operating income / revenue.
EBITDA margin	24.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	11.2%	Pre-tax income / revenue.
Net margin	9.0%	Net income / revenue.
FCF margin	16.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	26.0%	Cash from operations / revenue.
Effective tax rate	23.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.3%	Net income / average total assets.
Return on invested capital (ROIC)	8.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	1.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	9.7%	Capital expenditures / revenue.
D&A / revenue	10.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	3.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-11.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	13.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	3.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-3.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	9.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	3.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	23.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	55.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	13.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	30.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	64.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	18.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	21.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	8.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	6.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	41.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	11.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	7.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	6.5%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	6.9%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	7.5%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	13.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	6.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	2.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-0.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-5.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-4.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.80x	Current assets / current liabilities.
Quick ratio	0.65x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.23x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.01x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	35.1%	Total debt / total assets.
Liabilities / assets	65.1%	Total liabilities / total assets.
Net debt	$82.72B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.66x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	4.16x	Operating income / interest expense.
Working capital	-$6.76B	Current assets - current liabilities.
Goodwill and intangibles / assets	20.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	$36.69B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.48x	Revenue / average total assets.
Fixed asset turnover	1.89x	Revenue / average property, plant and equipment.
Receivables turnover	8.95x	Revenue / average receivables.
Days sales outstanding	41 days	365 x average receivables / revenue.
FCF conversion	182.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	37.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.14	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$34.99	Revenue / diluted weighted shares.
FCF per share	$5.73	Free cash flow / diluted weighted shares.
Operating cash flow per share	$9.11	Cash from operations / diluted weighted shares.
Book value per share	$25.14	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$10.28	Tangible book value / shares outstanding.
Cash per share	$2.15	(Cash + short-term investments) / shares outstanding.
Payout ratio	43.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	23.8%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	27.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$229.49B	Share price x shares outstanding.
Enterprise value	$312.21B	Market cap + total debt - cash - short-term investments.
P/E	20.5x	Market cap / net income. Only when net income is positive.
P/S	1.84x	Market cap / revenue.
P/B	2.56x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	6.25x	Market cap / tangible book value, when positive.
P/FCF	11.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	7.06x	Market cap / cash from operations, when positive.
EV/Sales	2.50x	Enterprise value / revenue.
EV/EBIT	17.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	15.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	8.9%	Free cash flow / market cap.
Earnings yield	4.9%	Net income / market cap (the inverse of P/E).
Dividend yield	2.1%	Dividends paid over the period / market cap.
Shareholder yield	4.6%	(Dividends paid + share buybacks) / market cap.
PEG	0.32x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was COMCAST CORP's revenue in fiscal 2025?

COMCAST CORP reported revenue of $123.71B for fiscal 2025, 0% lower than the year before.

Was COMCAST CORP profitable in fiscal 2025?

Yes. Net income was $20.00B, a net margin of 16.2%.

How much free cash flow did COMCAST CORP generate in fiscal 2025?

Cash from operations of $33.64B minus capital expenditures of $11.75B left free cash flow of $21.89B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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