At a glance
Comcast Corp is worth $84.76B, about 4 times its fiscal 2025 earnings. Revenue was flat at $123.71B in fiscal 2025, with 16.2% kept as profit; over 5 years it has grown 3.6% a year. It pays a 5.53% dividend yield, raised every year for at least 9 years, and returned $69.30B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +2.0% over the past year with dividends reinvested and −10.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 27.5% in the 2020 crash (S&P 500: 33.7%) and 43.3% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Comcast runs two main businesses. Connectivity & Platforms sells broadband internet, mobile, TV and home phone services to households and businesses under the Xfinity, Comcast Business, Sky and NOW brands in the US, UK and Italy. Content & Experiences makes and distributes entertainment, sports and news through NBC, Telemundo, Universal, Peacock and Sky, and runs Universal theme parks in the US and Asia.
Revenue was $123.7 billion in 2025. Residential Connectivity & Platforms was the largest segment. It brought in $70.7 billion, about 57% of the total, from household broadband, mobile, TV and phone service (often bundled at a discount), plus advertising and Sky's entertainment channels. Media added about 22%, Studios 9%, Business Services Connectivity (Comcast Business) 8% and Theme Parks 8%. About 77% of revenue came from the US and 12% from the UK. Comcast runs its own fiber-and-coaxial cable network in the US. In the UK and Italy it uses other companies' lines, and its US mobile service runs on Verizon's network.
On January 2, 2026, Comcast spun off Versant Media Group as a separate public company and gave Versant's shares to Comcast shareholders. Versant took cable networks including MS NOW (formerly MSNBC), CNBC, USA Network, E!, SYFY and Oxygen, plus Fandango and Rotten Tomatoes. The 2025 figures above include those businesses in Media, which shrank with the spin-off.
Price history
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CMCSA +2.0% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Residential Connectivity & Platforms | $70.70B | 57.2% |
| Media | $27.09B | 21.9% |
| Studios | $11.29B | 9.1% |
| Business Services Connectivity | $10.24B | 8.3% |
| Theme Parks | $9.84B | 8% |
By geography
| United States | $95.14B | 76.9% |
| United Kingdom | $15.18B | 12.3% |
| Other | $13.38B | 10.8% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $29.30B, down 6.1% from a year earlier, and net income was $3.45B (+3.5%).
- For fiscal 2025, revenue was $123.71B (0.0% year over year; +3.6% a year from FY2020 to FY2025) with a 16.2% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +3.6% watch |
|---|---|
| Operating margin | 16.7% good |
| Free cash flow margin | 17.7% good |
| Return on equity (FY2025) | 20.6% good |
| Return on assets (FY2025) | 7.3% watch |
| Net cash (cash minus debt) | $-71.89B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $103.56B | $10.53B | $15.56B |
| FY2021 | $116.39B | $14.16B | $19.97B |
| FY2022 | $121.43B | $5.37B | $15.79B |
| FY2023 | $121.57B | $15.39B | $16.26B |
| FY2024 | $123.73B | $16.19B | $15.49B |
| FY2025 | $123.71B | $20.00B | $21.89B |
Valuation snapshot
| Market value | $84.76B |
|---|---|
| P/E ratio | 4.4 |
| Dividend yield | 5.53% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| CMCSA price data to Nov 2, 2026 | -5.0% | +2.0% | -12.5% | -10.6% | +0.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -5.0% |
| 2025 | -22.4% |
| 2024 | -11.8% |
| 2023 | +29.1% |
| 2022 | -28.7% |
| 2021 | -2.2% |
| 2020 | +19.2% |
| 2019 | +34.0% |
| 2018 | -12.7% |
| 2017 | +17.5% |
| 2016 | +25.0% |
| 2015 | -1.1% |
| 2014 | +13.1% |
| 2013 | +41.6% |
| 2012 | +60.6% |
| 2011 | +10.4% |
| 2010 | +33.0% |
| 2009 | +1.7% |
| 2008 | -7.0% |
| 2007 | -35.3% |
| 2006 | +63.3% |
| 2005 | -22.1% |
| 2004 | +1.5% |
| 2003 | +39.1% |
| 2002 | -34.5% |
| 2001 | -12.9% |
| 2000 | -13.7% |
| 1999 | +66.7% |
| 1998 | +80.3% |
| 1997 | +81.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 52.6% over that stretch · deepest drop along the way 53.2%, back to its old high 22.4 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 25.7% over that stretch · deepest drop along the way 27.5%, back to its old high 5.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 42% over that stretch · deepest drop along the way 43.3%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-28 to 2026-10-28 (25 read): 0 open-market purchases and 1 sales ($143K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Mar 5, 2026 | Jason Armstrong CFO | sell | $143K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.52% | Mar 31, 2026 |
| STATE STREET CORPORATION | 5.1% | Dec 31, 2025 |
| Capital World Investors | 3% | Jun 30, 2026 |
ETFs with the most weight in CMCSA
| PKW Invesco BuyBack Achievers™ ETF | 5.1% |
| EAGL Eagle Capital Select Equity ETF | 4.95% |
| FPAG FPA Global Equity ETF | 4.88% |
| RSPC Invesco S&P 500 Equal Weight Communication Services ETF | 4.62% |
| IYZ iShares U.S. Telecommunications ETF | 4.53% |
| XLC Communication Services Select Sector SPDR Fund | 4.39% |
| NXTV Simplify Next Intangible Value Index ETF | 4.32% |
| DVAL BrandywineGLOBAL - Dynamic US Large Cap Value ETF | 4.18% |
What could go wrong
- Fiber and 5G rivals chase broadband customers. Broadband sits in Comcast's largest segment. Telecom companies are expanding fiber networks, wireless carriers offer 5G home internet, and government-subsidized networks may be built inside Comcast's service area.
- Viewers keep drifting away from traditional TV. Choices keep multiplying, from streaming services to social media, user-generated video and gaming. That splits audiences and challenges business models built on traditional TV packages and channels.
- Programming costs rise for each video customer. Comcast pays network owners to carry their channels, and that cost per video subscriber is rising. Losing a channel distribution agreement, or renewing one on worse terms, could also hurt results.
- The Versant spin-off could trigger a tax bill. Comcast structured the January 2026 spin-off of Versant, which took CNBC and other cable networks, to be tax-free. If it fails to qualify, Comcast, shareholders or both could owe significant taxes.
- Class B shares give one executive outsized control. A separate Class B stock carries substantial voting rights and approval rights over some major deals. Through it, the Chairman and Co-CEO has considerable influence, which can limit other shareholders' say.
- Advertising slumps would hit several businesses. Comcast earns advertising revenue from its TV networks, Sky channels and digital platforms. Advertisers tend to cut budgets when the economy weakens, and shifts in the ad market could also reduce this income.
Recent events
- Quarterly results released
- Quarterly results released
- Other company announcement
- Shareholder vote results
- Other company announcement
- Quarterly results released
- Investor presentation or announcement
- Executive or board change
- Quarterly results released
- Other company announcement
For income and retirement investors
Comcast has raised its dividend at least nine years in a row through fiscal 2025. Dividends per share rose from $0.92 in 2020 to $1.32 in 2025, about 7.5% a year. The 2025 payout took about 25% of earnings and 22% of free cash flow (cash left after capital spending). The yield was 6.12% as of October 28, 2026. Comcast also spent $45.5 billion on share repurchases (buybacks) from 2021 to 2025, almost twice its dividend payments, though yearly buybacks fell steadily after 2022.
The stock has fallen sharply in downturns. It dropped 53% in the 2008 financial crisis and took about 22 months from its low to regain its peak. It fell 28% in the 2020 COVID crash and recovered in about six months. After falling 43% in the 2022 market slump, it still had not regained its earlier high as of October 28, 2026. Single stocks carry more risk than diversified funds, which spread money across many companies.
Questions investors ask
How does Comcast make money?
Mostly from connectivity services. In 2025, Residential Connectivity & Platforms produced about 57% of Comcast's $123.7 billion in revenue. That segment provides broadband, mobile, TV and phone service to households and also earns advertising revenue. Media contributed about 22%, Studios 9%, Business Services Connectivity 8% and Theme Parks 8%. About 77% of revenue came from the US and 12% from the UK. These 2025 figures still include the cable networks spun off as Versant in January 2026.
Does Comcast raise its dividend every year?
Yes, for at least nine straight years through fiscal 2025, based on SEC filings, and the streak may be longer. Dividends per share climbed from $0.92 in 2020 to $1.32 in 2025, or about 7.5% a year. The yield was 6.12% as of October 28, 2026. A long record of increases is not a promise. The board sets each payout, and a weaker business could slow or stop the raises.
Is Comcast's dividend safe?
No dividend is guaranteed, but Comcast's payout used a modest share of its profits. In 2025, dividends of $4.9 billion took about 25% of net income and 22% of the $21.9 billion in free cash flow (cash left after capital spending). Those figures include the networks later spun off as Versant. Debt matters too: total debt was $87.4 billion against $15.5 billion of cash and investments as of September 30, 2026.
What is the Comcast Versant spin-off?
It turned part of Comcast's TV business into a separate public company. On January 2, 2026, Comcast gave all Versant Media Group shares to people who owned Comcast stock on December 16, 2025. Versant trades on Nasdaq as VSNT. It holds cable networks including MS NOW (formerly MSNBC), CNBC, USA Network, E!, SYFY and Oxygen, plus Fandango and Rotten Tomatoes. The deal was designed to be tax-free for US federal tax purposes. If it fails to qualify, Comcast, its shareholders or both could owe significant taxes.
How has Comcast stock performed?
It has lost ground. As of October 28, 2026, the share price was down 12.4% over one year, 48% over five years and 3% over ten years. It dropped 28.7% in 2022 and 22.4% in 2025. These figures leave out dividends, and shareholders also received Versant shares in January 2026. The price-to-earnings ratio (share price divided by yearly profit per share) was 4 based on 2025 earnings, but those earnings included businesses later moved to Versant.