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).

Current Valuation Ratios
Historical Valuation Ratios (Summary)
Price to Earnings (P/E)
Price to Operating Profit (P/OP)
Price to Sales (P/S)
Price to Book Value (P/BV)

Comcast Corp., current price multiples

	Comcast Corp.	Charter Communications Inc.	Walt Disney Co.	Media	Consumer Services
Selected Financial Data
Current share price (P)	$45.45
No. shares of common stock outstanding	4,549,250,254
Growth rate (g)	14.68%

Earnings per share (EPS)	$2.58
Next year expected EPS	$2.96
Operating profit per share	$4.18
Sales per share	$20.77
Book value per share (BVPS)	$15.74
Valuation Ratios (Price Multiples)
Price to earnings (P/E)	17.63	83.81	21.04	22.49	32.83
Price to next year expected earnings	15.37	45.26	18.41	19.67	28.67
Price-earnings-growth (PEG)	1.20	0.98	1.47	1.57	2.26
Price to operating profit (P/OP)	10.88	19.74	17.91	14.73	21.33
Price to sales (P/S)	2.19	2.36	4.46	2.91	1.71
Price to book value (P/BV)	2.89	2.84	5.43	3.67	7.22

Based on: 10-K (filing date: 2019-01-31).

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.

Comcast Corp., historical price multiples

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Price to earnings (P/E)	14.11	8.70	20.56	17.78	18.01
Price to operating profit (P/OP)	8.71	10.98	10.61	9.07	10.12
Price to sales (P/S)	1.75	2.34	2.22	1.95	2.19
Price to book value (P/BV)	2.31	2.88	3.31	2.78	2.86

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

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.’s P/E ratio declined from 2016 to 2017 but then slightly increased from 2017 to 2018.
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.’s P/OP ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
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.’s P/S ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return.	Comcast Corp.’s P/BV ratio declined from 2016 to 2017 and from 2017 to 2018.

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

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
No. shares of common stock outstanding¹	4,525,962,522	4,644,508,017	4,751,603,386	4,884,796,726	5,082,134,148
Selected Financial Data (US$)
Net income attributable to Comcast Corporation (in millions)	11,731	22,714	8,695	8,163	8,380
Earnings per share (EPS)²	2.59	4.89	1.83	1.67	1.65
Share price^1, 3	36.57	42.53	37.63	29.71	29.69
Valuation Ratio
P/E ratio⁴	14.11	8.70	20.56	17.78	18.01
Benchmarks
P/E Ratio, Competitors⁵
Charter Communications Inc.	60.65	9.34	24.77	—	—
Walt Disney Co.	13.36	17.28	16.65	23.41	20.31
P/E Ratio, Sector
Media	15.98	10.70	19.55	22.09	20.58
P/E Ratio, Industry
Consumer Services	27.81	23.89	23.11	25.73	24.89

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

¹ Data adjusted for splits and stock dividends.

² 2018 Calculation
EPS = Net income attributable to Comcast Corporation ÷ No. shares of common stock outstanding
= 11,731,000,000 ÷ 4,525,962,522 = 2.59

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

⁴ 2018 Calculation
P/E ratio = Share price ÷ EPS
= 36.57 ÷ 2.59 = 14.11

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.’s P/E ratio declined from 2016 to 2017 but then slightly increased from 2017 to 2018.

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

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
No. shares of common stock outstanding¹	4,525,962,522	4,644,508,017	4,751,603,386	4,884,796,726	5,082,134,148
Selected Financial Data (US$)
Operating income (in millions)	19,009	17,987	16,859	15,998	14,904
Operating profit per share²	4.20	3.87	3.55	3.28	2.93
Share price^1, 3	36.57	42.53	37.63	29.71	29.69
Valuation Ratio
P/OP ratio⁴	8.71	10.98	10.61	9.07	10.12
Benchmarks
P/OP Ratio, Competitors⁵
Charter Communications Inc.	14.29	22.51	35.52	16.26	20.50
Walt Disney Co.	11.37	11.26	11.01	14.90	13.36
P/OP Ratio, Sector
Media	10.46	12.41	12.60	11.87	11.85
P/OP Ratio, Industry
Consumer Services	18.06	17.54	15.21	14.60	13.87

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

¹ Data adjusted for splits and stock dividends.

² 2018 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= 19,009,000,000 ÷ 4,525,962,522 = 4.20

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

⁴ 2018 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 36.57 ÷ 4.20 = 8.71

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.’s P/OP ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018.

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

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
No. shares of common stock outstanding¹	4,525,962,522	4,644,508,017	4,751,603,386	4,884,796,726	5,082,134,148
Selected Financial Data (US$)
Revenue (in millions)	94,507	84,526	80,403	74,510	68,775
Sales per share²	20.88	18.20	16.92	15.25	13.53
Share price^1, 3	36.57	42.53	37.63	29.71	29.69
Valuation Ratio
P/S ratio⁴	1.75	2.34	2.22	1.95	2.19
Benchmarks
P/S Ratio, Competitors⁵
Charter Communications Inc.	1.71	2.22	3.01	1.86	2.19
Walt Disney Co.	2.83	2.81	2.81	3.74	3.12
P/S Ratio, Sector
Media	2.07	2.46	2.56	2.63	2.55
P/S Ratio, Industry
Consumer Services	1.45	1.46	1.29	1.26	1.14

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

¹ Data adjusted for splits and stock dividends.

² 2018 Calculation
Sales per share = Revenue ÷ No. shares of common stock outstanding
= 94,507,000,000 ÷ 4,525,962,522 = 20.88

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

⁴ 2018 Calculation
P/S ratio = Share price ÷ Sales per share
= 36.57 ÷ 20.88 = 1.75

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.’s P/S ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018.

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

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
No. shares of common stock outstanding¹	4,525,962,522	4,644,508,017	4,751,603,386	4,884,796,726	5,082,134,148
Selected Financial Data (US$)
Total Comcast Corporation shareholders’ equity (in millions)	71,613	68,606	53,943	52,269	52,711
Book value per share (BVPS)²	15.82	14.77	11.35	10.70	10.37
Share price^1, 3	36.57	42.53	37.63	29.71	29.69
Valuation Ratio
P/BV ratio⁴	2.31	2.88	3.31	2.78	2.86
Benchmarks
P/BV Ratio, Competitors⁵
Charter Communications Inc.	2.06	2.36	2.17	—	136.37
Walt Disney Co.	3.45	3.76	3.61	4.41	3.39
P/BV Ratio, Sector
Media	2.61	2.99	3.08	3.72	3.30
P/BV Ratio, Industry
Consumer Services	6.12	6.14	5.19	5.34	4.40

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

¹ Data adjusted for splits and stock dividends.

² 2018 Calculation
BVPS = Total Comcast Corporation shareholders’ equity ÷ No. shares of common stock outstanding
= 71,613,000,000 ÷ 4,525,962,522 = 15.82

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

⁴ 2018 Calculation
P/BV ratio = Share price ÷ BVPS
= 36.57 ÷ 15.82 = 2.31

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’s required rate of return and its actual rate of return.	Comcast Corp.’s P/BV ratio declined from 2016 to 2017 and from 2017 to 2018.

Comcast Corp. (CMCSA)

Common Stock Valuation Ratios (Price Multiples)

Current Valuation Ratios

Historical Valuation Ratios (Summary)

Price to Earnings (P/E)

Price to Operating Profit (P/OP)

Price to Sales (P/S)

Price to Book Value (P/BV)