Stock Analysis on Net

Comcast Corp. (NASDAQ:CMCSA)

Common Stock Valuation Ratios (Price Multiples) 

Microsoft Excel

Current Valuation Ratios

Comcast Corp., current price multiples

Microsoft Excel
Comcast Corp. Alphabet Inc. Charter Communications Inc. Meta Platforms Inc. Netflix Inc. Walt Disney Co. Media & Entertainment Communication Services
Selected Financial Data
Current share price (P) $43.12
No. shares of common stock outstanding 3,971,857,339
Growth rate (g) 7.58%
 
Earnings per share (EPS) $3.87
Next year expected EPS $4.17
Operating profit per share $5.87
Sales per share $30.61
Book value per share (BVPS) $20.82
Valuation Ratios (Price Multiples)
Price to earnings (P/E) 11.13 25.02 9.44 32.41 49.48 88.72 27.05 24.53
Price to next year expected earnings 10.35 20.37 7.49 26.26 38.87 84.36 23.00 21.82
Price-earnings-growth (PEG) 1.47 1.10 0.36 1.38 1.81 17.17 1.53 1.97
Price to operating profit (P/OP) 7.35 21.90 3.42 27.10 38.48 40.95 21.25 17.89
Price to sales (P/S) 1.41 6.01 0.79 9.39 7.94 2.35 5.13 3.98
Price to book value (P/BV) 2.07 6.51 3.88 8.27 13.00 2.10 5.85 4.71

Based on: 10-K (reporting date: 2023-12-31).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Comcast Corp., historical price multiples

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Price to earnings (P/E) 12.01 31.38 16.01 22.37 15.39
Price to operating profit (P/OP) 7.93 12.00 10.89 13.47 9.51
Price to sales (P/S) 1.52 1.39 1.95 2.28 1.84
Price to book value (P/BV) 2.24 2.08 2.36 2.61 2.43

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Comcast Corp. P/E ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Comcast Corp. P/OP ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Comcast Corp. P/S ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Comcast Corp. P/BV ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Price to Earnings (P/E)

Comcast Corp., historical P/E calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 3,971,857,339 4,216,056,328 4,533,230,325 4,580,656,172 4,553,034,645
Selected Financial Data (US$)
Net income attributable to Comcast Corporation (in millions) 15,388 5,370 14,159 10,534 13,057
Earnings per share (EPS)2 3.87 1.27 3.12 2.30 2.87
Share price1, 3 46.54 39.97 49.99 51.45 44.14
Valuation Ratio
P/E ratio4 12.01 31.38 16.01 22.37 15.39
Benchmarks
P/E Ratio, Competitors5
Alphabet Inc. 23.89 22.47 25.74 34.65 28.96
Charter Communications Inc. 10.17 11.91 21.92 36.53 65.14
Meta Platforms Inc. 30.97 21.10 16.44 25.89 32.31
Netflix Inc. 45.65 36.17 33.56 86.39 80.66
Walt Disney Co. 73.44 54.90 137.89 23.96
P/E Ratio, Sector
Media & Entertainment 25.78 23.72 23.91 36.26 28.79
P/E Ratio, Industry
Communication Services 23.49 24.80 21.10 36.51 24.81

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
EPS = Net income attributable to Comcast Corporation ÷ No. shares of common stock outstanding
= 15,388,000,000 ÷ 3,971,857,339 = 3.87

3 Closing price as at the filing date of Comcast Corp. Annual Report.

4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 46.54 ÷ 3.87 = 12.01

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Comcast Corp. P/E ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Price to Operating Profit (P/OP)

Comcast Corp., historical P/OP calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 3,971,857,339 4,216,056,328 4,533,230,325 4,580,656,172 4,553,034,645
Selected Financial Data (US$)
Operating income (in millions) 23,314 14,041 20,817 17,493 21,125
Operating profit per share2 5.87 3.33 4.59 3.82 4.64
Share price1, 3 46.54 39.97 49.99 51.45 44.14
Valuation Ratio
P/OP ratio4 7.93 12.00 10.89 13.47 9.51
Benchmarks
P/OP Ratio, Competitors5
Alphabet Inc. 20.92 18.01 24.86 33.85 29.05
Charter Communications Inc. 3.69 5.03 9.69 14.00 16.69
Meta Platforms Inc. 25.90 16.91 13.84 23.10 24.90
Netflix Inc. 35.50 28.85 27.71 52.02 57.82
Walt Disney Co. 33.90 26.43 91.54 24.82
P/OP Ratio, Sector
Media & Entertainment 20.25 16.91 20.36 29.40 23.37
P/OP Ratio, Industry
Communication Services 17.13 16.55 17.18 24.94 17.80

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= 23,314,000,000 ÷ 3,971,857,339 = 5.87

3 Closing price as at the filing date of Comcast Corp. Annual Report.

4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 46.54 ÷ 5.87 = 7.93

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Comcast Corp. P/OP ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Price to Sales (P/S)

Comcast Corp., historical P/S calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 3,971,857,339 4,216,056,328 4,533,230,325 4,580,656,172 4,553,034,645
Selected Financial Data (US$)
Revenue (in millions) 121,572 121,427 116,385 103,564 108,942
Sales per share2 30.61 28.80 25.67 22.61 23.93
Share price1, 3 46.54 39.97 49.99 51.45 44.14
Valuation Ratio
P/S ratio4 1.52 1.39 1.95 2.28 1.84
Benchmarks
P/S Ratio, Competitors5
Alphabet Inc. 5.74 4.76 7.60 7.65 6.14
Charter Communications Inc. 0.85 1.11 1.97 2.45 2.37
Meta Platforms Inc. 8.98 4.20 5.49 8.78 8.45
Netflix Inc. 7.32 5.14 5.78 9.54 7.47
Walt Disney Co. 1.94 2.09 4.08 4.13 3.81
P/S Ratio, Sector
Media & Entertainment 4.89 3.48 5.27 5.90 4.86
P/S Ratio, Industry
Communication Services 3.81 2.81 3.84 4.09 3.48

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
Sales per share = Revenue ÷ No. shares of common stock outstanding
= 121,572,000,000 ÷ 3,971,857,339 = 30.61

3 Closing price as at the filing date of Comcast Corp. Annual Report.

4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 46.54 ÷ 30.61 = 1.52

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Comcast Corp. P/S ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Price to Book Value (P/BV)

Comcast Corp., historical P/BV calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 3,971,857,339 4,216,056,328 4,533,230,325 4,580,656,172 4,553,034,645
Selected Financial Data (US$)
Total Comcast Corporation shareholders’ equity (in millions) 82,703 80,943 96,092 90,323 82,726
Book value per share (BVPS)2 20.82 19.20 21.20 19.72 18.17
Share price1, 3 46.54 39.97 49.99 51.45 44.14
Valuation Ratio
P/BV ratio4 2.24 2.08 2.36 2.61 2.43
Benchmarks
P/BV Ratio, Competitors5
Alphabet Inc. 6.22 5.26 7.78 6.27 4.94
Charter Communications Inc. 4.18 6.60 7.26 4.94 3.46
Meta Platforms Inc. 7.91 3.89 5.18 5.88 5.91
Netflix Inc. 11.99 7.82 10.83 21.56 19.86
Walt Disney Co. 1.74 1.82 3.11 3.23 2.98
P/BV Ratio, Sector
Media & Entertainment 5.58 4.09 5.72 5.38 4.52
P/BV Ratio, Industry
Communication Services 4.51 3.41 4.33 4.21 3.69

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
BVPS = Total Comcast Corporation shareholders’ equity ÷ No. shares of common stock outstanding
= 82,703,000,000 ÷ 3,971,857,339 = 20.82

3 Closing price as at the filing date of Comcast Corp. Annual Report.

4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 46.54 ÷ 20.82 = 2.24

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Comcast Corp. P/BV ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.