Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Paying user area
Try for free
Comcast Corp. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Comcast Corp. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Profitability Ratios (Summary)
Comcast Corp., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
An analysis of the profitability ratios reveals a period of notable volatility in late 2022, followed by a sustained recovery phase that peaked in mid-2025. While top-line efficiency improved consistently, bottom-line metrics experienced significant fluctuations before stabilizing at higher levels than the initial 2022 baseline.
- Gross Profit Margin
- A steady and consistent upward trend is observed in gross profit margins. Starting at 66.64% in March 2022, the margin climbed progressively to a peak of 71.88% in September 2025. This indicates a sustained improvement in the direct cost of revenue relative to sales over the analyzed period.
- Operating Profit Margin
- Operating efficiency exhibited significant volatility. A sharp contraction occurred in the second half of 2022, where margins fell from 18.25% in June to a low of 11.56% by December. A subsequent recovery led to a peak of 19.33% in September 2023. However, a gradual downward trend followed this peak, with the margin receding to 15.29% by March 2026.
- Net Profit Margin
- Net margins mirrored the volatility seen in operating results, dropping to 4.42% in December 2022. A strong rebound began in late 2023, with a significant surge occurring in June 2025, where the net profit margin reached its highest point of 18.44%. The period ended with a slight moderation to 15.00% in March 2026.
- Return on Equity (ROE) and Return on Assets (ROA)
- Both ROE and ROA followed a similar trajectory to the net profit margin. A trough was reached in December 2022, with ROE at 6.63% and ROA at 2.09%. These metrics entered a growth phase starting in the third quarter of 2023, peaking in June 2025 at 23.65% for ROE and 8.36% for ROA. By March 2026, ROE remained strong at 21.29%, while ROA settled at 7.23%, suggesting a significant overall increase in capital and asset efficiency compared to the 2022 levels.
Return on Sales
Return on Investment
Gross Profit Margin
Comcast Corp., gross profit margin calculation (quarterly data)
| Mar 31, 2026 | Dec 31, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Gross profit | |||||||||||||||||||||||
| Revenue | |||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||
| Gross profit margin1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
1 Q1 2026 Calculation
Gross profit margin = 100
× (Gross profitQ1 2026
+ Gross profitQ4 2025
+ Gross profitQ3 2025
+ Gross profitQ2 2025)
÷ (RevenueQ1 2026
+ RevenueQ4 2025
+ RevenueQ3 2025
+ RevenueQ2 2025)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The analysis of profitability ratios reveals a sustained expansion in the gross profit margin over the majority of the period analyzed, transitioning from a baseline of 66.64% in March 2022 to a peak of 71.88% in September 2025.
- Margin Expansion Trend
- A consistent upward trajectory is observed from March 2022 through September 2023, during which the gross profit margin increased by 332 basis points. This steady climb indicates an improvement in the company's ability to manage direct costs relative to its revenue streams.
- Period of Stability and Consolidation
- Between March 2024 and December 2024, the gross profit margin entered a phase of relative stability, fluctuating narrowly between 69.73% and 70.53%. During this interval, margins consolidated around the 70% threshold, suggesting a period of equilibrium between pricing power and the cost of goods sold.
- Peak Efficiency and Recent Contraction
- Maximum profitability was reached in September 2025, with the gross profit margin peaking at 71.88%. Following this peak, a downward correction occurred by March 2026, with the margin receding to 70.13%. This final contraction is accompanied by a decrease in absolute gross profit to 20,573 million USD, despite revenue remaining robust at 31,457 million USD.
Operating Profit Margin
Comcast Corp., operating profit margin calculation (quarterly data)
| Mar 31, 2026 | Dec 31, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Operating income (loss) | |||||||||||||||||||||||
| Revenue | |||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
1 Q1 2026 Calculation
Operating profit margin = 100
× (Operating income (loss)Q1 2026
+ Operating income (loss)Q4 2025
+ Operating income (loss)Q3 2025
+ Operating income (loss)Q2 2025)
÷ (RevenueQ1 2026
+ RevenueQ4 2025
+ RevenueQ3 2025
+ RevenueQ2 2025)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
Operating profit margins exhibited a cyclical pattern characterized by a significant contraction in 2022, a robust recovery throughout 2023 and 2024, and a subsequent gradual decline entering 2026. While revenue remained relatively stable, fluctuating primarily between 29 billion and 32 billion US dollars, the operating margin showed substantial volatility.
- Period of Contraction and Lows (2022 - Early 2023)
- A sharp decline in operational efficiency is observed starting in the third quarter of 2022. The operating profit margin dropped from a peak of 18.25% in June 2022 to 11.82% by September 2022, reaching a period low of 11.56% in December 2022. This compressed margin remained stagnant through the first half of 2023, hovering around 11.75% to 11.99%.
- Recovery and Peak Efficiency (Late 2023 - 2024)
- A significant recovery occurred in the second half of 2023, with the margin jumping to 19.33% in September 2023. Operational efficiency remained high and stable throughout 2024, maintaining a range between 18.52% and 19.32%. The peak margin of 19.33% indicates a period of optimized operating income relative to revenue.
- Gradual Margin Erosion (2025 - 2026)
- Beginning in March 2025, a consistent downward trend is observable. The margin declined from 18.73% in March 2025 to 16.71% by December 2025, continuing its descent to 15.29% by March 2026. This sustained contraction suggests increasing operating expenses or diminishing operating income despite relatively steady revenue levels.
Net Profit Margin
Comcast Corp., net profit margin calculation (quarterly data)
| Mar 31, 2026 | Dec 31, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) attributable to Comcast Corporation | |||||||||||||||||||||||
| Revenue | |||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
1 Q1 2026 Calculation
Net profit margin = 100
× (Net income (loss) attributable to Comcast CorporationQ1 2026
+ Net income (loss) attributable to Comcast CorporationQ4 2025
+ Net income (loss) attributable to Comcast CorporationQ3 2025
+ Net income (loss) attributable to Comcast CorporationQ2 2025)
÷ (RevenueQ1 2026
+ RevenueQ4 2025
+ RevenueQ3 2025
+ RevenueQ2 2025)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The net profit margin exhibited significant volatility over the analyzed period, characterized by a sharp contraction in 2022, a steady recovery through 2024, and an exceptional peak in mid-2025.
- Profitability Contraction and Recovery (2022–2023)
- A substantial decline in the net profit margin occurred during the latter half of 2022, dropping from 11.96% in March to 4.42% by December. This compression coincided with a significant net loss reported in the quarter ending September 30, 2022. A recovery phase followed in 2023, where margins improved incrementally from 4.71% in March to 12.66% by December 2023.
- Stabilization Period (2024)
- Profitability remained relatively consistent throughout 2024, with the net profit margin fluctuating within a narrow range between 11.92% and 13.09%. During this interval, revenue remained stable between 29.6 billion and 32.0 billion US dollars, suggesting a period of stabilized operational efficiency.
- Exceptional Peak and Subsequent Normalization (2025–2026)
- A significant upward anomaly is observed in the second quarter of 2025, where the net profit margin reached a peak of 18.44%. This surge was driven by a substantial increase in net income to 11,123 million US dollars, despite revenue remaining aligned with historical averages. Following this peak, a gradual downward trend is observed, with the margin normalizing to 16.17% by December 2025 and 15.00% by March 31, 2026.
Return on Equity (ROE)
Comcast Corp., ROE calculation (quarterly data)
| Mar 31, 2026 | Dec 31, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) attributable to Comcast Corporation | |||||||||||||||||||||||
| Total Comcast Corporation shareholders’ equity | |||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||
| ROE1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
1 Q1 2026 Calculation
ROE = 100
× (Net income (loss) attributable to Comcast CorporationQ1 2026
+ Net income (loss) attributable to Comcast CorporationQ4 2025
+ Net income (loss) attributable to Comcast CorporationQ3 2025
+ Net income (loss) attributable to Comcast CorporationQ2 2025)
÷ Total Comcast Corporation shareholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial performance between March 2022 and March 2026 is characterized by initial volatility in profitability, followed by a sustained recovery and a significant peak in efficiency during the first quarter of 2025.
- Net Income Volatility
- Earnings exhibited extreme fluctuations, most notably a substantial loss of 4.598 billion US dollars in the third quarter of 2022. Following this decline, net income recovered and remained relatively stable through 2023 and 2024, typically ranging between 3.2 billion and 4.8 billion US dollars. A significant outlier occurred in March 2025, where net income surged to 11.123 billion US dollars, before normalizing to approximately 2.1 billion US dollars by the first quarter of 2026.
- Shareholders' Equity Trends
- Equity experienced a contraction from 94.693 billion US dollars in March 2022 to a low of 80.296 billion US dollars in September 2022. Throughout 2023 and 2024, the equity base remained stable, fluctuating narrowly between 82 billion and 86 billion US dollars. A notable expansion occurred in the first quarter of 2025, with equity rising to 96.851 billion US dollars and peaking at 97.081 billion US dollars in June 2025, before declining to 88.274 billion US dollars by March 2026.
- Return on Equity (ROE) Analysis
- The ROE reflects the impact of the aforementioned income and equity swings. The ratio declined from 15.18% in early 2022 to a period of weakness in late 2022, bottoming at 6.63%. A strong upward trend emerged in the second half of 2023, with ROE jumping to 18.34% by September. This higher performance level was maintained through 2024, culminating in a peak of 23.65% in March 2025. Despite subsequent fluctuations, the ROE remained elevated, ending the analyzed period at 21.29% in March 2026, suggesting a permanent shift toward higher capital efficiency compared to the 2022 baseline.
Return on Assets (ROA)
Comcast Corp., ROA calculation (quarterly data)
| Mar 31, 2026 | Dec 31, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) attributable to Comcast Corporation | |||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||
| ROA1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
1 Q1 2026 Calculation
ROA = 100
× (Net income (loss) attributable to Comcast CorporationQ1 2026
+ Net income (loss) attributable to Comcast CorporationQ4 2025
+ Net income (loss) attributable to Comcast CorporationQ3 2025
+ Net income (loss) attributable to Comcast CorporationQ2 2025)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The Return on Assets (ROA) for the analyzed period exhibits significant volatility, characterized by a sharp decline in late 2022, a period of steady recovery through 2024, and a substantial peak in mid-2025.
- Volatility and Initial Decline (2022–Early 2023)
- A notable contraction in profitability occurred during the second half of 2022. ROA decreased from 5.26% in June 2022 to a low of 2.09% by December 2022. This downturn corresponds with a reported net loss of $4,598 million in the third quarter of 2022, reflecting a period of diminished asset efficiency.
- Stabilization and Recovery (Mid 2023–2024)
- A recovery phase began in the second quarter of 2023, with ROA climbing back to 5.80% by September 2023. Throughout 2024, the ratio remained stable, fluctuating within a narrow band between 5.44% and 6.08%. During this timeframe, total assets remained relatively constant, moving between approximately $262 billion and $269 billion, suggesting that the ROA recovery was driven primarily by the stabilization of net income.
- Exceptional Growth and Normalization (2025–2026)
- A significant spike in asset productivity is observed in the second quarter of 2025, where ROA reached a period high of 8.36%. This peak is directly linked to an exceptional increase in net income, which surged to $11,123 million. Subsequent quarters show a gradual normalization of the ratio, descending to 7.23% by March 31, 2026. Despite this decline from the peak, the ROA continues to perform above the 2022–2024 baseline, indicating a higher sustained level of operational efficiency relative to the total asset base.