Common Stock Valuation Ratios (Price Multiples)
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).
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
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Current Valuation Ratios
Comcast Corp., current price multiples
| Comcast Corp. | Alphabet Inc. | Meta Platforms Inc. | Netflix Inc. | Take-Two Interactive Software Inc. | Walt Disney Co. | Media & Entertainment | Communication Services | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||
| Current share price (P) | |||||||||||
| No. shares of common stock outstanding | |||||||||||
| Growth rate (g) | |||||||||||
| Earnings per share (EPS) | |||||||||||
| Next year expected EPS | |||||||||||
| Operating profit per share | |||||||||||
| Sales per share | |||||||||||
| Book value per share (BVPS) | |||||||||||
| Valuation Ratios (Price Multiples) | |||||||||||
| Price to earnings (P/E) | |||||||||||
| Price to next year expected earnings | |||||||||||
| Price-earnings-growth (PEG) | |||||||||||
| Price to operating profit (P/OP) | |||||||||||
| Price to sales (P/S) | |||||||||||
| Price to book value (P/BV) | |||||||||||
Based on: 10-K (reporting date: 2024-12-31).
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
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Price to earnings (P/E) | ||||||
| Price to operating profit (P/OP) | ||||||
| Price to sales (P/S) | ||||||
| Price to book value (P/BV) |
Based on: 10-K (reporting date: 2024-12-31), 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).
- Price to Earnings (P/E) Ratio
- The price to earnings ratio exhibits significant fluctuations over the observed period. It decreased from 22.37 in 2020 to 16.01 in 2021, followed by a sharp increase to 31.38 in 2022. Subsequently, the ratio declined considerably to 12.01 in 2023 and further to 7.86 in 2024. This downward trend in the latter years suggests a substantial improvement in earnings relative to the stock price or a decrease in the valuation multiple.
- Price to Operating Profit (P/OP) Ratio
- The price to operating profit ratio also shows a general declining pattern, indicating a growing operating profit relative to the stock price or a compression in valuation multiples. Starting at 13.47 in 2020, it dropped to 10.89 in 2021, rose slightly to 12.00 in 2022, then declined again to 7.93 in 2023 and reached 5.46 in 2024. The consistent decline in the last two years reflects a more favorable operating profit relative to price.
- Price to Sales (P/S) Ratio
- This ratio portrays a steady downward trend throughout the timeframe. From 2.28 in 2020, the ratio fell to 1.95 in 2021, then declined further to 1.39 in 2022. After a slight recovery to 1.52 in 2023, the ratio dropped again to 1.03 in 2024. This pattern suggests either a decrease in valuation concerning sales or an increase in sales volume relative to market capitalization.
- Price to Book Value (P/BV) Ratio
- The price to book value ratio declines over the period, moving from 2.61 in 2020 to 2.36 in 2021 and 2.08 in 2022. It experienced a minor increase to 2.24 in 2023 but then decreased more sharply to 1.49 in 2024. This declining trend points towards a closer alignment of the market price with book value or a reduction in market valuation relative to net asset value.
Price to Earnings (P/E)
Comcast Corp., historical P/E calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Net income attributable to Comcast Corporation (in millions) | ||||||
| Earnings per share (EPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/E ratio4 | ||||||
| Benchmarks | ||||||
| P/E Ratio, Competitors5 | ||||||
| Alphabet Inc. | ||||||
| Meta Platforms Inc. | ||||||
| Netflix Inc. | ||||||
| Take-Two Interactive Software Inc. | ||||||
| Walt Disney Co. | ||||||
| P/E Ratio, Sector | ||||||
| Media & Entertainment | ||||||
| P/E Ratio, Industry | ||||||
| Communication Services | ||||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
EPS = Net income attributable to Comcast Corporation ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Comcast Corp. Annual Report.
4 2024 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The share price exhibited a downward trend from 2020 to 2024, declining from $51.45 to $33.66. It reached its lowest point in 2024 after fluctuating during the interim years, notably dropping sharply in 2022 and then partially recovering in 2023 before decreasing again in 2024.
Earnings per share (EPS) showed significant variability. After increasing from $2.30 in 2020 to $3.12 in 2021, EPS sharply declined to $1.27 in 2022. This was followed by a strong recovery in 2023 to $3.87 and a further increase to $4.28 in 2024. Overall, EPS ended higher in 2024 compared to 2020, despite the mid-period volatility.
The price-to-earnings (P/E) ratio, reflecting market valuation relative to earnings, demonstrated a notable downward trend across the period. Starting at 22.37 in 2020, it decreased to 7.86 in 2024, with a peak of 31.38 in 2022. This peak corresponds with the dip in EPS during the same year, highlighting an elevated market valuation relative to earnings when profits were lower. The subsequent decrease in P/E ratio indicates a market adjustment to higher earnings and/or a decline in share price.
- Summary of Trends:
- - The share price declined overall, with fluctuations including a significant dip in 2022.
- - EPS experienced volatility but showed a strong recovery and growth by 2024 compared to the start.
- - The P/E ratio peaked in 2022 due to low earnings and subsequently declined, illustrating shifting market valuation relative to profitability.
- - The combination of these metrics suggests periods of uncertainty and recovery, with the company becoming more profitable despite weaker market pricing of its shares in later years.
Price to Operating Profit (P/OP)
Comcast Corp., historical P/OP calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Operating income (in millions) | ||||||
| Operating profit per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/OP ratio4 | ||||||
| Benchmarks | ||||||
| P/OP Ratio, Competitors5 | ||||||
| Alphabet Inc. | ||||||
| Meta Platforms Inc. | ||||||
| Netflix Inc. | ||||||
| Take-Two Interactive Software Inc. | ||||||
| Walt Disney Co. | ||||||
| P/OP Ratio, Sector | ||||||
| Media & Entertainment | ||||||
| P/OP Ratio, Industry | ||||||
| Communication Services | ||||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Comcast Corp. Annual Report.
4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited a declining trend over the five-year period, starting at $51.45 as of December 31, 2020, and decreasing to $33.66 by December 31, 2024. Notably, the share price dropped significantly between 2021 and 2022, from $49.99 to $39.97, showed a partial recovery in 2023 to $46.54, before declining again in 2024.
- Operating Profit per Share Trend
- Operating profit per share showed a generally increasing trend, rising from $3.82 at the end of 2020 to $6.16 at the end of 2024. The figure decreased between 2021 ($4.59) and 2022 ($3.33), but subsequently experienced notable growth in the following years, peaking at $6.16 in 2024.
- Price-to-Operating-Profit (P/OP) Ratio Trend
- The P/OP ratio demonstrated a consistent downward trend over the five-year timeframe, beginning at 13.47 in 2020 and steadily declining to 5.46 in 2024. This reflects a decreasing market valuation relative to operating profit per share, with the most significant reduction occurring between 2023 (7.93) and 2024 (5.46).
- Overall Financial Insights
- The data indicates a divergence between the share price and operating profit per share, where operating profitability per share improved over time despite a decreasing share price. The declining P/OP ratio suggests that the market may be valuing the company more conservatively relative to its operational earnings. This could imply heightened market caution or external factors influencing investor sentiment despite improving operational performance.
Price to Sales (P/S)
Comcast Corp., historical P/S calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Revenue (in millions) | ||||||
| Sales per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/S ratio4 | ||||||
| Benchmarks | ||||||
| P/S Ratio, Competitors5 | ||||||
| Alphabet Inc. | ||||||
| Meta Platforms Inc. | ||||||
| Netflix Inc. | ||||||
| Take-Two Interactive Software Inc. | ||||||
| Walt Disney Co. | ||||||
| P/S Ratio, Sector | ||||||
| Media & Entertainment | ||||||
| P/S Ratio, Industry | ||||||
| Communication Services | ||||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
Sales per share = Revenue ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Comcast Corp. Annual Report.
4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited a downward trajectory over the observed period, decreasing from $51.45 at the end of 2020 to $33.66 by the end of 2024. Notably, after a decline to $39.97 in 2022, there was a partial recovery in 2023 to $46.54, followed by another decline in 2024.
- Sales Per Share
- Sales per share showed a consistent upward trend throughout the period. Starting at $22.61 in 2020, sales per share increased steadily each year, reaching $32.72 by the end of 2024. This indicates improving revenue generation capability on a per-share basis.
- Price-to-Sales (P/S) Ratio
- The P/S ratio declined substantially from 2.28 in 2020 to 1.03 in 2024, reflecting the combined effect of a falling share price and rising sales per share. The ratio dropped sharply between 2021 and 2022 but stabilized somewhat thereafter, suggesting market valuation compression relative to sales growth.
Overall, the data reveal a scenario where sales performance per share has steadily improved, yet market valuation as indicated by the share price and P/S ratio has decreased. This divergence could imply increased market skepticism or external factors negatively impacting investor sentiment despite operational growth in sales.
Price to Book Value (P/BV)
Comcast Corp., historical P/BV calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Total Comcast Corporation shareholders’ equity (in millions) | ||||||
| Book value per share (BVPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/BV ratio4 | ||||||
| Benchmarks | ||||||
| P/BV Ratio, Competitors5 | ||||||
| Alphabet Inc. | ||||||
| Meta Platforms Inc. | ||||||
| Netflix Inc. | ||||||
| Take-Two Interactive Software Inc. | ||||||
| Walt Disney Co. | ||||||
| P/BV Ratio, Sector | ||||||
| Media & Entertainment | ||||||
| P/BV Ratio, Industry | ||||||
| Communication Services | ||||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
BVPS = Total Comcast Corporation shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Comcast Corp. Annual Report.
4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited a general downward trend over the observed period. Starting at $51.45 at the end of 2020, the price declined slightly to $49.99 by the end of 2021. It continued to decrease more noticeably in 2022, reaching $39.97. There was a moderate recovery in 2023 with the price rising to $46.54, but this upswing was followed by a significant drop to $33.66 in 2024. Overall, the share price declined by approximately 34.6% over the five years.
- Book Value Per Share (BVPS) Trend
- The book value per share showed less volatility compared to the share price. It increased from $19.72 in 2020 to a peak of $21.20 in 2021 before decreasing to $19.20 in 2022. Subsequently, it gradually rose again, reaching $20.82 in 2023 and $22.63 in 2024. This indicates a net positive growth of about 14.8% from 2020 to 2024, reflecting a strengthening in the company's net asset position on a per-share basis.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio declined steadily throughout the period. Starting at 2.61 in 2020, it dropped each year to 2.36 in 2021, 2.08 in 2022, and modestly increased to 2.24 in 2023 before falling sharply to 1.49 in 2024. This decreasing trend suggests the market's valuation relative to the company's book value has diminished, implying either a market reassessment of growth prospects or increased risk perception.
- Summary of Insights
- The data reveals a weakening market valuation relative to the company's underlying book value, as seen in the declining P/BV ratio driven by falling share prices juxtaposed with a slowly improving book value per share. The share price volatility, particularly the sharp decrease in 2024, may reflect market uncertainties or adverse conditions impacting investor sentiment. The steady increase in book value per share suggests internal value growth or asset accumulation, but this has not been mirrored in the market valuation. The divergence between stable asset growth and declining market price highlights caution in market outlook or potential concerns related to earnings performance or sector-specific challenges.