Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Comcast Corp., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
- Price to Earnings (P/E) Ratio
- The P/E ratio demonstrates a notable fluctuation over the examined periods. Initially, there is a decline from 22.12 to 16.01 between March 2021 and December 2021. This downward trend continues into mid-2022, reaching a low of 12.39 before sharply increasing to a peak of 31.38 by the end of 2022. Subsequently, the ratio declines again throughout 2023 and into 2024, settling around 9.64 to 11.39. From late 2024 into 2025, a continuous decrease is evident, with the ratio dropping to 4.4 by September 2025. This pattern suggests periods of varying investor optimism or earnings volatility, with the latest data showing increased earnings relative to price.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio follows a generally similar trend to the P/E ratio, starting at 14.66 in March 2021 and gradually decreasing to 7.83 by mid-2022. An upward spike then appears, peaking at 12 in December 2022. Afterwards, there is a decline to below 7 by early 2024, followed by some stability around the mid-6 to 7 range. From mid-2024 forward, the ratio declines steadily to 4.49 by the third quarter of 2025. This behavior indicates changes in investor valuation of operating profits, with a surge in late 2022 possibly reflecting market reassessments, followed by improved operating profitability or more cautious valuations later.
- Price to Sales (P/S) Ratio
- The P/S ratio reveals a generally downward trajectory across the timeframe. Starting at 2.49 in early 2021, it decreases steadily to 1.14 by the third quarter of 2022. A brief uptick occurs around the end of 2022 to early 2023, peaking at 1.55, before roughly stabilizing near 1.3 to 1.5 for much of 2023 and early 2024. Following this, there is a gradual decrease, with the ratio dropping below 1.0 to 0.81 by the third quarter of 2025. This suggests a declining market valuation relative to sales, potentially indicating improving sales performance not fully reflected in price or a more conservative market stance over time.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio also manifests a declining trend overall. Beginning at 2.8 in the first quarter of 2021, the ratio decreases to around 1.72 by the third quarter of 2022. A moderate recovery occurs towards the end of 2022 and early 2023, reaching around 2.24, followed by a renewed decline through 2023 and 2024. From early 2025, the ratio continues to drop gradually, reaching 1.03 by the third quarter of 2025. This trend reflects a general decrease in valuation relative to the company's book value, possibly indicating market adjustments or changes in asset valuation perceptions.
- Summary
- Across all valuation metrics—P/E, P/OP, P/S, and P/BV—there is a clear pattern of initial declines in early periods followed by volatility around late 2022, often characterized by temporary spikes. Thereafter, a strong downward trend dominates, especially from 2023 onward, suggesting improved earnings and operating profit generation relative to market price or a more conservative market valuation approach. The consistent decrease in ratios by 2025 could indicate that the company’s underlying financial performance has strengthened or that market pricing has adjusted significantly to more conservative levels.
Price to Earnings (P/E)
Comcast Corp., historical P/E calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,643,894,505 | 3,692,206,502 | 3,733,703,927 | 3,781,022,601 | 3,826,540,003 | 3,872,501,623 | 3,923,626,048 | 3,971,857,339 | 4,025,079,749 | 4,125,132,924 | 4,168,827,388 | 4,216,056,328 | 4,323,408,694 | 4,413,238,355 | 4,481,316,814 | 4,533,230,325 | 4,568,923,045 | 4,589,737,229 | 4,594,016,301 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Net income (loss) attributable to Comcast Corporation (in millions) | 3,332) | 11,123) | 3,375) | 4,777) | 3,629) | 3,929) | 3,857) | 3,260) | 4,046) | 4,248) | 3,834) | 3,023) | (4,598) | 3,396) | 3,549) | 3,057) | 4,035) | 3,738) | 3,329) | ||||||
| Earnings per share (EPS)2 | 6.20 | 6.20 | 4.21 | 4.28 | 3.84 | 3.90 | 3.93 | 3.87 | 3.76 | 1.58 | 1.36 | 1.27 | 1.25 | 3.18 | 3.21 | 3.12 | 3.17 | 2.72 | 2.55 | ||||||
| Share price1, 3 | 27.32 | 33.23 | 33.19 | 33.66 | 43.67 | 38.51 | 37.87 | 46.54 | 39.15 | 45.35 | 40.27 | 39.97 | 31.97 | 39.41 | 41.70 | 49.99 | 51.90 | 58.11 | 56.40 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/E ratio4 | 4.40 | 5.36 | 7.89 | 7.86 | 11.39 | 9.88 | 9.64 | 12.01 | 10.40 | 28.75 | 29.69 | 31.38 | 25.58 | 12.39 | 13.00 | 16.01 | 16.37 | 21.39 | 22.12 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | 27.38 | 20.22 | 17.91 | 23.54 | 22.87 | 24.49 | 26.05 | 23.89 | 23.76 | 26.82 | 22.64 | 22.47 | 18.32 | 20.58 | 20.32 | 25.74 | 27.53 | 28.90 | 31.05 | ||||||
| Meta Platforms Inc. | 28.70 | 27.17 | 21.59 | 27.91 | 25.80 | 24.48 | 24.47 | 30.97 | 24.92 | 35.58 | 28.51 | 21.10 | 9.01 | 12.84 | 14.91 | 16.44 | 21.80 | 25.93 | 27.69 | ||||||
| Netflix Inc. | 45.35 | 50.14 | 44.68 | 47.72 | 41.97 | 38.31 | 37.14 | 45.65 | 38.78 | 44.61 | 34.72 | 36.17 | 23.66 | 19.54 | 19.36 | 33.56 | 57.28 | 51.57 | 60.01 | ||||||
| Trade Desk Inc. | 50.61 | 103.52 | 71.43 | 90.94 | 212.26 | 171.26 | 212.06 | 206.87 | 246.46 | 306.77 | 410.83 | 609.53 | — | 788.40 | 211.66 | 284.75 | 151.46 | 147.73 | 96.69 | ||||||
| Walt Disney Co. | 17.93 | 20.60 | 35.59 | 39.74 | 32.64 | 113.35 | 60.90 | 73.44 | 71.09 | 44.85 | 61.51 | 54.90 | 65.23 | 72.29 | 86.97 | 137.89 | 289.34 | — | — | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
EPS
= (Net income (loss) attributable to Comcast CorporationQ3 2025
+ Net income (loss) attributable to Comcast CorporationQ2 2025
+ Net income (loss) attributable to Comcast CorporationQ1 2025
+ Net income (loss) attributable to Comcast CorporationQ4 2024)
÷ No. shares of common stock outstanding
= (3,332,000,000 + 11,123,000,000 + 3,375,000,000 + 4,777,000,000)
÷ 3,643,894,505 = 6.20
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= 27.32 ÷ 6.20 = 4.40
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in the company's share price, earnings per share (EPS), and price-to-earnings (P/E) ratio over the observed periods.
- Share Price
- The share price initially exhibited a declining trend from around $56.40 at the end of March 2021 to a low near $31.97 by September 2022. This decline was interrupted by a modest recovery toward the end of 2022, reaching approximately $39.97. In 2023, the price showed volatility with fluctuations between $33.15 and $46.54 but trended generally downward again by the end of 2024 and into 2025, dropping to $27.32 by September 2025. Overall, the share price demonstrates cyclical volatility with an overall downward bias over the long term.
- Earnings Per Share (EPS)
- EPS showed a moderate increase from $2.55 in March 2021 to $3.21 by March 2022, before sharply dropping to around $1.25-$1.36 during the second half of 2022 and early 2023. A significant recovery followed, with EPS reaching a peak of $6.20 by September 2025. This suggests strong improvement in profitability over the latter periods, despite intermittent declines.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio decreased from about 22.12 in March 2021 to a low near 12 during mid-2022, then surged above 30 at the end of 2022, corresponding with the dip in EPS and relatively lower share price. In 2023, the ratio fluctuated notably, with a sharp decline to 10.4 in September 2023 alongside a rising EPS. By mid-2025, the P/E ratio fell further to 4.4, reflecting the strong earnings growth combined with a subdued share price. This declining P/E ratio trend indicates the market is valuing the company more conservatively relative to its earnings or that earnings growth has outpaced the share price appreciation.
In summary, the company experienced share price volatility and a general decline over the analyzed timeframe, while earnings per share demonstrated substantial growth after an initial dip in late 2022 and early 2023. The falling P/E ratio toward the end of the period highlights enhanced profitability relative to market valuation, suggesting the stock may be trading at a lower multiple despite improving financial performance.
Price to Operating Profit (P/OP)
Comcast Corp., historical P/OP calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,643,894,505 | 3,692,206,502 | 3,733,703,927 | 3,781,022,601 | 3,826,540,003 | 3,872,501,623 | 3,923,626,048 | 3,971,857,339 | 4,025,079,749 | 4,125,132,924 | 4,168,827,388 | 4,216,056,328 | 4,323,408,694 | 4,413,238,355 | 4,481,316,814 | 4,533,230,325 | 4,568,923,045 | 4,589,737,229 | 4,594,016,301 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Operating income (loss) (in millions) | 5,534) | 5,992) | 5,658) | 4,993) | 5,859) | 6,635) | 5,810) | 4,484) | 6,475) | 6,709) | 5,646) | 4,531) | (2,426) | 6,367) | 5,569) | 4,821) | 5,450) | 5,507) | 5,039) | ||||||
| Operating profit per share2 | 6.09 | 6.09 | 6.20 | 6.16 | 5.96 | 6.04 | 5.98 | 5.87 | 5.80 | 3.51 | 3.39 | 3.33 | 3.31 | 5.03 | 4.76 | 4.59 | 4.36 | 4.04 | 3.85 | ||||||
| Share price1, 3 | 27.32 | 33.23 | 33.19 | 33.66 | 43.67 | 38.51 | 37.87 | 46.54 | 39.15 | 45.35 | 40.27 | 39.97 | 31.97 | 39.41 | 41.70 | 49.99 | 51.90 | 58.11 | 56.40 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/OP ratio4 | 4.49 | 5.45 | 5.35 | 5.46 | 7.33 | 6.37 | 6.33 | 7.93 | 6.75 | 12.94 | 11.89 | 12.00 | 9.64 | 7.83 | 8.75 | 10.89 | 11.91 | 14.39 | 14.66 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | 27.42 | 19.25 | 16.92 | 20.97 | 20.51 | 21.92 | 23.24 | 20.92 | 20.13 | 21.93 | 18.38 | 18.01 | 15.62 | 17.97 | 18.39 | 24.86 | 26.82 | 29.02 | 32.10 | ||||||
| Meta Platforms Inc. | 20.51 | 24.69 | 19.68 | 25.09 | 22.96 | 21.42 | 20.99 | 25.90 | 20.16 | 27.97 | 22.11 | 16.91 | 7.39 | 10.83 | 12.68 | 13.84 | 18.71 | 22.67 | 24.49 | ||||||
| Netflix Inc. | 37.42 | 41.76 | 37.21 | 39.91 | 33.87 | 31.43 | 30.36 | 35.50 | 29.21 | 33.68 | 27.12 | 28.85 | 20.88 | 16.77 | 15.62 | 27.71 | 44.39 | 37.28 | 40.38 | ||||||
| Trade Desk Inc. | 42.06 | 90.92 | 64.99 | 83.69 | 173.83 | 142.04 | 169.07 | 184.64 | 241.10 | 269.27 | 295.72 | 286.30 | — | 669.01 | 212.81 | 314.28 | 166.23 | 177.79 | 164.94 | ||||||
| Walt Disney Co. | 17.26 | 15.44 | 21.45 | 23.75 | 19.06 | 39.89 | 29.75 | 33.90 | 34.95 | 26.48 | 32.61 | 26.43 | 31.54 | 35.31 | 53.03 | 91.54 | 197.21 | — | — | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Operating profit per share
= (Operating income (loss)Q3 2025
+ Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024)
÷ No. shares of common stock outstanding
= (5,534,000,000 + 5,992,000,000 + 5,658,000,000 + 4,993,000,000)
÷ 3,643,894,505 = 6.09
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 27.32 ÷ 6.09 = 4.49
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited a general downward trajectory from the first quarter of 2021 through the third quarter of 2025. Initially, it started at 56.4 US$ in March 2021, followed by a gradual decline with some fluctuations. Notably, there was a dip to 31.97 US$ in September 2022 after which a mild recovery occurred, reaching around 46.54 US$ by December 2023. However, from December 2023 onward, the share price declined consistently, settling near 27.32 US$ by September 2025. This indicates a weakening market valuation over the observed period.
- Operating Profit Per Share
- Operating profit per share showed a positive growth trend over the quarters. Starting at 3.85 US$ in March 2021, it generally increased, peaking at 6.2 US$ in September 2025. While there were slight fluctuations—such as a temporary drop in September 2022 to 3.31 US$—the overall pattern reflects improving operational profitability on a per-share basis over time.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio demonstrated a declining trend overall, which in combination with the increasing operating profit per share suggests the stock may have become more attractively valued relative to its operating earnings. Early in the period (March 2021), the P/OP ratio was about 14.66, which decreased steadily with some fluctuations, reaching a low of 4.49 by September 2025. This decline signals investors paying less for each unit of operating profit, possibly due to market conditions or changing investor sentiment.
- Summary of Insights
- In summary, despite the consistent increase in operating profit per share indicating improved operational performance, the share price decreased significantly over the analyzed periods. Consequently, the P/OP ratio decreased markedly, suggesting a market reassessment of valuation multiples, potentially reflecting external factors impacting investor confidence or sector-specific challenges. The disparity between rising profits and falling share price warrants attention for further investigation into underlying causes.
Price to Sales (P/S)
Comcast Corp., historical P/S calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,643,894,505 | 3,692,206,502 | 3,733,703,927 | 3,781,022,601 | 3,826,540,003 | 3,872,501,623 | 3,923,626,048 | 3,971,857,339 | 4,025,079,749 | 4,125,132,924 | 4,168,827,388 | 4,216,056,328 | 4,323,408,694 | 4,413,238,355 | 4,481,316,814 | 4,533,230,325 | 4,568,923,045 | 4,589,737,229 | 4,594,016,301 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Revenue (in millions) | 31,198) | 30,313) | 29,887) | 31,915) | 32,070) | 29,688) | 30,058) | 31,253) | 30,115) | 30,513) | 29,691) | 30,552) | 29,849) | 30,016) | 31,010) | 30,336) | 30,298) | 28,546) | 27,205) | ||||||
| Sales per share2 | 33.84 | 33.63 | 33.09 | 32.72 | 32.16 | 31.28 | 31.08 | 30.61 | 30.03 | 29.24 | 28.81 | 28.80 | 28.04 | 27.57 | 26.82 | 25.67 | 24.90 | 23.75 | 22.67 | ||||||
| Share price1, 3 | 27.32 | 33.23 | 33.19 | 33.66 | 43.67 | 38.51 | 37.87 | 46.54 | 39.15 | 45.35 | 40.27 | 39.97 | 31.97 | 39.41 | 41.70 | 49.99 | 51.90 | 58.11 | 56.40 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/S ratio4 | 0.81 | 0.99 | 1.00 | 1.03 | 1.36 | 1.23 | 1.22 | 1.52 | 1.30 | 1.55 | 1.40 | 1.39 | 1.14 | 1.43 | 1.55 | 1.95 | 2.08 | 2.45 | 2.49 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | 8.82 | 6.29 | 5.53 | 6.73 | 6.34 | 6.54 | 6.75 | 5.74 | 5.34 | 5.65 | 4.66 | 4.76 | 4.35 | 5.33 | 5.60 | 7.60 | 8.13 | 8.26 | 8.11 | ||||||
| Meta Platforms Inc. | 8.87 | 10.87 | 8.45 | 10.58 | 9.17 | 8.41 | 7.84 | 8.98 | 5.84 | 6.65 | 5.21 | 4.20 | 2.20 | 3.62 | 4.65 | 5.49 | 7.82 | 9.64 | 9.90 | ||||||
| Netflix Inc. | 10.90 | 12.32 | 10.31 | 10.66 | 8.69 | 7.49 | 6.84 | 7.32 | 5.36 | 5.90 | 4.57 | 5.14 | 3.79 | 3.21 | 3.19 | 5.78 | 10.10 | 8.21 | 8.55 | ||||||
| Trade Desk Inc. | 7.95 | 16.12 | 11.46 | 14.62 | 28.32 | 19.95 | 20.77 | 19.02 | 20.57 | 22.90 | 19.30 | 20.62 | 13.17 | 19.16 | 16.47 | 32.79 | 38.06 | 37.58 | 26.02 | ||||||
| Walt Disney Co. | 2.19 | 1.95 | 2.16 | 2.16 | 1.73 | 2.15 | 2.04 | 1.94 | 1.82 | 2.12 | 2.42 | 2.09 | 2.53 | 2.50 | 3.67 | 4.08 | 5.12 | 5.55 | 5.70 | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Sales per share
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ No. shares of common stock outstanding
= (31,198,000,000 + 30,313,000,000 + 29,887,000,000 + 31,915,000,000)
÷ 3,643,894,505 = 33.84
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 27.32 ÷ 33.84 = 0.81
5 Click competitor name to see calculations.
The quarterly financial data highlights several notable trends in the share price, sales per share, and price-to-sales (P/S) ratio over the observed periods.
- Share Price
- The share price demonstrates significant volatility, with a general downward trajectory from March 2021 through September 2025. Initially, the price hovered near mid-50s US$, then declined sharply to below 40 US$ by mid-2022. There is a brief recovery spike in the fourth quarter of 2023, followed by a renewed decline toward the end of the observation period, reaching approximately 27 US$ by September 2025. This pattern indicates considerable market fluctuations and potential external or internal factors influencing investor sentiment and valuation.
- Sales per Share
- Sales per share show a consistent upward trend throughout the entire period. Starting at 22.67 US$ in March 2021, the figure gradually increases each quarter, culminating at 33.84 US$ by September 2025. This steady rise reflects continuous growth in revenue generation per share, suggesting improving operational performance or an expanding revenue base, unaffected by the fluctuations observed in the share price.
- Price-to-Sales (P/S) Ratio
- The P/S ratio experiences a noticeable decline from an initial 2.49 in March 2021 to below 1 over time. The ratio dips to a low point near 1.14 in late 2022, briefly recovers somewhat in 2023, but then resumes a downward trend, falling to approximately 0.81 by September 2025. This decreasing trend indicates that the market valuation relative to sales is contracting, possibly reflecting reduced investor confidence or market re-rating despite rising sales per share.
Overall, the data presents a scenario where the company's sales performance per share is improving steadily, but its market valuation as expressed by share price and P/S ratio is declining. This divergence suggests that while operational metrics are positive, investor perception or external market conditions may be exerting downward pressure on the stock's valuation. Such a pattern warrants further investigation into factors impacting market sentiment, including competitive dynamics, macroeconomic conditions, or company-specific risks.
Price to Book Value (P/BV)
Comcast Corp., historical P/BV calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,643,894,505 | 3,692,206,502 | 3,733,703,927 | 3,781,022,601 | 3,826,540,003 | 3,872,501,623 | 3,923,626,048 | 3,971,857,339 | 4,025,079,749 | 4,125,132,924 | 4,168,827,388 | 4,216,056,328 | 4,323,408,694 | 4,413,238,355 | 4,481,316,814 | 4,533,230,325 | 4,568,923,045 | 4,589,737,229 | 4,594,016,301 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Total Comcast Corporation shareholders’ equity (in millions) | 97,081) | 96,851) | 86,638) | 85,560) | 85,774) | 83,219) | 82,549) | 82,703) | 82,625) | 84,119) | 82,421) | 80,943) | 80,296) | 91,426) | 94,693) | 96,092) | 95,782) | 94,935) | 92,575) | ||||||
| Book value per share (BVPS)2 | 26.64 | 26.23 | 23.20 | 22.63 | 22.42 | 21.49 | 21.04 | 20.82 | 20.53 | 20.39 | 19.77 | 19.20 | 18.57 | 20.72 | 21.13 | 21.20 | 20.96 | 20.68 | 20.15 | ||||||
| Share price1, 3 | 27.32 | 33.23 | 33.19 | 33.66 | 43.67 | 38.51 | 37.87 | 46.54 | 39.15 | 45.35 | 40.27 | 39.97 | 31.97 | 39.41 | 41.70 | 49.99 | 51.90 | 58.11 | 56.40 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/BV ratio4 | 1.03 | 1.27 | 1.43 | 1.49 | 1.95 | 1.79 | 1.80 | 2.24 | 1.91 | 2.22 | 2.04 | 2.08 | 1.72 | 1.90 | 1.97 | 2.36 | 2.48 | 2.81 | 2.80 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | 8.79 | 6.44 | 5.76 | 7.25 | 6.86 | 7.14 | 7.33 | 6.22 | 5.80 | 6.12 | 5.08 | 5.26 | 4.84 | 5.80 | 5.96 | 7.78 | 7.95 | 7.66 | 6.93 | ||||||
| Meta Platforms Inc. | 8.66 | 9.96 | 7.78 | 9.53 | 8.71 | 8.03 | 7.49 | 7.91 | 5.19 | 5.98 | 4.90 | 3.89 | 2.09 | 3.43 | 4.52 | 5.18 | 6.59 | 7.31 | 6.99 | ||||||
| Netflix Inc. | 18.23 | 20.59 | 17.24 | 16.80 | 14.37 | 12.29 | 11.19 | 11.99 | 7.94 | 8.30 | 6.68 | 7.82 | 5.81 | 5.22 | 5.53 | 10.83 | 18.89 | 16.34 | 17.51 | ||||||
| Trade Desk Inc. | 8.53 | 16.02 | 10.84 | 12.12 | 24.91 | 18.04 | 19.70 | 17.10 | 17.47 | 19.15 | 16.36 | 15.38 | 10.20 | 14.95 | 12.90 | 25.68 | 32.74 | 32.37 | 21.48 | ||||||
| Walt Disney Co. | 1.90 | 1.76 | 1.96 | 1.96 | 1.55 | 1.94 | 1.81 | 1.74 | 1.64 | 1.89 | 2.12 | 1.82 | 2.22 | 2.11 | 2.98 | 3.11 | 3.76 | 3.79 | 4.12 | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
BVPS = Total Comcast Corporation shareholders’ equity ÷ No. shares of common stock outstanding
= 97,081,000,000 ÷ 3,643,894,505 = 26.64
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 27.32 ÷ 26.64 = 1.03
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited a downward trend from March 2021 to September 2022, declining from $56.40 to a low of $31.97. There was a moderate recovery observed towards December 2022 and early 2023, peaking at $46.54 in December 2023. Subsequently, the price experienced fluctuations and a general decline starting in early 2024, reaching a low of $27.32 by September 2025. Overall, the share price shows significant volatility with a predominant decreasing trajectory over the entire period analyzed.
- Book Value Per Share (BVPS) Trend
- The book value per share presented a steady increase over the examined quarters. From $20.15 in March 2021, it rose progressively to $26.64 by September 2025. The increase was consistent with minor quarterly variations, indicating relatively stable growth in the company’s equity base per share over time.
- Price-to-Book Value (P/BV) Ratio Trend
- The price-to-book value ratio exhibited a declining pattern throughout the period. Starting at a ratio of 2.80 in March 2021, it decreased steadily with some intermittent rebounds, reaching a low of 1.03 by September 2025. This declining P/BV ratio suggests that the market valuation relative to the company’s book value per share has been compressing, reflecting either a decrease in market confidence or a revaluation of the equity.
- Overall Insights
-
The company’s share price has been subject to considerable volatility with a long-term downward trend, while the book value per share steadily increased, indicating growth in book equity. The declining P/BV ratio implies that investors have reduced their valuation multiples over time, potentially due to market conditions or company-specific factors affecting market sentiment. The divergence between rising book value and falling share price highlights a shift in market perception or risk assessment.