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: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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).
A comprehensive analysis of valuation ratios from March 2022 through September 2026 reveals a systemic compression across all measured multiples. While the period began with relative stability and a subsequent peak in valuation in late 2022 and early 2023, a consistent downward trajectory is observed throughout 2024, 2025, and into 2026, suggesting a significant reduction in market valuation relative to earnings, sales, and book value.
- Earnings and Operating Profit Multiples
- The Price to Earnings (P/E) ratio exhibited significant volatility in the initial phase, rising from 13.00 in March 2022 to a peak of 31.38 by December 2022. Following this peak, a sharp contraction occurred, with the ratio falling to 10.40 by September 2023 and continuing a downward trend to a low of 4.40 in September 2025. A slight recovery is noted toward the end of the period, ending at 7.17 in September 2026. Similarly, the Price to Operating Profit (P/OP) ratio peaked at 12.94 in June 2023 before declining steadily to a range between 4.25 and 4.48 by mid-2026.
- Revenue Valuation
- The Price to Sales (P/S) ratio maintained a range between 1.14 and 1.55 throughout 2022 and 2023. However, a sustained erosion of this multiple began in early 2024. The ratio declined from 1.22 in March 2024 to 0.62 by June 2026, indicating that the market is attributing substantially less value to each dollar of revenue generated compared to the start of the analyzed period.
- Book Value Assessment
- The Price to Book Value (P/BV) ratio initially traded at a premium, peaking at 2.24 in December 2023. A marked decline followed, with the ratio dropping below the 1.00 threshold by September 2025 (1.03) and reaching 0.87 by June 2026. This shift signifies a transition from the stock trading at a premium to its net asset value to trading at a discount.
Overall, the convergence of declining P/E, P/OP, P/S, and P/BV ratios indicates a broad devaluation of the common stock relative to its fundamental financial metrics over the observed timeframe.
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Price to Earnings (P/E)
Comcast Corp., historical P/E calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,551,006,335 | 3,548,636,573 | 3,572,228,557 | 3,597,845,994 | 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 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Net income (loss) attributable to Comcast Corporation (in millions) | 3,448) | 3,526) | 2,174) | 2,168) | 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) | ||||||
| Earnings per share (EPS)2 | 3.19 | 3.16 | 5.26 | 5.56 | 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 | ||||||
| Share price1, 3 | 22.84 | 21.92 | 31.64 | 29.76 | 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 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/E ratio4 | 7.17 | 6.95 | 6.01 | 5.35 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | 14.73 | 15.94 | 28.88 | 30.33 | 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 | ||||||
| Meta Platforms Inc. | 22.04 | 20.16 | 22.01 | 30.89 | 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 | ||||||
| Netflix Inc. | 18.09 | 21.03 | 30.65 | 33.11 | 45.35 | 50.14 | 44.68 | 47.72 | 41.97 | 38.31 | 37.14 | 45.64 | 38.78 | 44.61 | 34.72 | 36.18 | 23.66 | 19.54 | 19.36 | ||||||
| Walt Disney Co. | 20.43 | 16.72 | 15.10 | 15.49 | 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 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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 Data adjusted for splits and stock dividends.
2 Q3 2026 Calculation
EPS
= (Net income (loss) attributable to Comcast CorporationQ3 2026
+ Net income (loss) attributable to Comcast CorporationQ2 2026
+ Net income (loss) attributable to Comcast CorporationQ1 2026
+ Net income (loss) attributable to Comcast CorporationQ4 2025)
÷ No. shares of common stock outstanding
= (3,448,000,000 + 3,526,000,000 + 2,174,000,000 + 2,168,000,000)
÷ 3,551,006,335 = 3.19
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q3 2026 Calculation
P/E ratio = Share price ÷ EPS
= 22.84 ÷ 3.19 = 7.17
5 Click competitor name to see calculations.
The valuation profile indicates a significant compression of the price-to-earnings (P/E) ratio over the analyzed period, transitioning from a peak of 31.38 in December 2022 to a trough of 4.40 in September 2025. This trajectory reflects a fundamental shift in how the market values the company's earnings, moving from a high-multiple regime to a low-single-digit multiple regime.
- P/E Ratio Volatility and Contraction
- A period of extreme valuation expansion occurred between September 2022 and March 2023, where the P/E ratio rose from 25.58 to a peak of 31.38 before stabilizing near 29.69. Following this peak, a consistent downward trend is observed. By December 2024, the ratio dropped to 7.86, and it continued to decline throughout 2025, reaching its lowest point of 4.40 in September 2025. A slight recovery followed in 2026, ending at 7.17 in September 2026.
- Earnings Per Share (EPS) Trends
- Earnings exhibit significant fluctuations. A notable dip occurred in late 2022, with EPS falling to 1.25 in September 2022 and 1.27 in December 2022, which directly contributed to the spike in the P/E ratio. Subsequently, a strong growth phase emerged, with EPS increasing to a peak of 6.20 in June and September 2025. However, this growth reversed in 2026, with EPS declining to 3.19 by September 2026.
- Share Price Correlation
- The share price demonstrated relative resilience during the initial P/E spike, peaking at 46.54 in December 2023. However, a prolonged decline began in 2024. Despite the substantial increase in EPS during 2024 and 2025, the share price continued to drop, falling from 37.87 in March 2024 to 22.84 by September 2026. This inverse relationship between rising earnings and falling share prices was the primary driver of the P/E ratio compression.
- Valuation Summary
- The data reveals a divergence between fundamental earnings performance and market valuation. The period between March 2024 and September 2025 is characterized by an "earnings-driven devaluation," where the market assigned lower multiples to the company even as earnings per share grew. The final quarters of the sequence show a stabilization of the P/E ratio around 7.0x, coinciding with a decline in EPS back toward 2022 levels.
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Price to Operating Profit (P/OP)
Comcast Corp., historical P/OP calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,551,006,335 | 3,548,636,573 | 3,572,228,557 | 3,597,845,994 | 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 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Operating income (loss) (in millions) | 5,320) | 5,160) | 4,135) | 3,488) | 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) | ||||||
| Operating profit per share2 | 5.10 | 5.16 | 5.36 | 5.75 | 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 | ||||||
| Share price1, 3 | 22.84 | 21.92 | 31.64 | 29.76 | 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 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/OP ratio4 | 4.48 | 4.25 | 5.90 | 5.18 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | 22.11 | 26.37 | 33.50 | 31.06 | 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 | ||||||
| Meta Platforms Inc. | 20.89 | 15.80 | 17.53 | 22.43 | 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 | ||||||
| Netflix Inc. | 17.16 | 20.00 | 29.42 | 27.28 | 37.42 | 41.76 | 37.21 | 39.91 | 33.87 | 31.43 | 30.36 | 35.50 | 29.21 | 33.68 | 27.12 | 28.85 | 20.89 | 16.77 | 15.62 | ||||||
| Walt Disney Co. | 13.01 | 14.32 | 14.29 | 14.76 | 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 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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 Data adjusted for splits and stock dividends.
2 Q3 2026 Calculation
Operating profit per share
= (Operating income (loss)Q3 2026
+ Operating income (loss)Q2 2026
+ Operating income (loss)Q1 2026
+ Operating income (loss)Q4 2025)
÷ No. shares of common stock outstanding
= (5,320,000,000 + 5,160,000,000 + 4,135,000,000 + 3,488,000,000)
÷ 3,551,006,335 = 5.10
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q3 2026 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 22.84 ÷ 5.10 = 4.48
5 Click competitor name to see calculations.
An analysis of the valuation metrics from March 2022 through September 2026 reveals a significant compression in the Price to Operating Profit (P/OP) ratio, driven by a divergence between share price performance and operating profitability.
- Share Price Trend
- The share price exhibited considerable volatility with a pronounced long-term downward trajectory. After fluctuating between approximately $32 and $46 from early 2022 through late 2024, a sustained decline occurred, with the price dropping from $43.67 in September 2024 to $22.84 by September 2026.
- Operating Profit per Share Performance
- Operating profit per share demonstrated a general growth trend for the majority of the period. After starting at $4.76 in March 2022 and dipping to $3.31 in September 2022, the metric climbed steadily, peaking at $6.20 in March 2025. A moderate contraction followed in the final periods, ending at $5.10 in September 2026.
- P/OP Ratio Dynamics
- The P/OP ratio shifted from a high-valuation regime to a low-valuation regime. The ratio peaked at 12.94 in June 2023, reflecting a higher market premium relative to operating earnings. However, as the share price declined and operating profits generally increased or stabilized, the ratio compressed significantly, reaching a period low of 4.25 in June 2026.
- Valuation Synthesis
- The overall trend indicates a substantial reduction in the multiple the market is willing to pay for each dollar of operating profit. The contraction of the P/OP ratio from double digits in early 2023 to below 5.00 by 2026 suggests a fundamental shift in market sentiment or a repricing of the company's operating earnings potential.
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Price to Sales (P/S)
Comcast Corp., historical P/S calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,551,006,335 | 3,548,636,573 | 3,572,228,557 | 3,597,845,994 | 3,643,894,505 | 3,692,206,502 | 3,733,703,927 | 3,781,022,601 | 3,826,540,003 | 3,872,501,623 | 3,923,626,048 | 3,971,857,339 | 4,025,079,749 | 4,125,132,924 | 4,168,827,388 | 4,216,056,328 | 4,323,408,694 | 4,413,238,355 | 4,481,316,814 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Revenue (in millions) | 29,298) | 29,940) | 31,457) | 32,309) | 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) | ||||||
| Sales per share2 | 34.64 | 35.20 | 35.07 | 34.38 | 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 | ||||||
| Share price1, 3 | 22.84 | 21.92 | 31.64 | 29.76 | 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 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/S ratio4 | 0.66 | 0.62 | 0.90 | 0.87 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | 7.37 | 8.73 | 10.95 | 9.95 | 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 | ||||||
| Meta Platforms Inc. | 6.86 | 6.02 | 7.23 | 9.29 | 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 | ||||||
| Netflix Inc. | 5.37 | 5.94 | 8.74 | 8.05 | 10.91 | 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 | ||||||
| Walt Disney Co. | 1.78 | 1.93 | 1.93 | 2.03 | 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 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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 Data adjusted for splits and stock dividends.
2 Q3 2026 Calculation
Sales per share
= (RevenueQ3 2026
+ RevenueQ2 2026
+ RevenueQ1 2026
+ RevenueQ4 2025)
÷ No. shares of common stock outstanding
= (29,298,000,000 + 29,940,000,000 + 31,457,000,000 + 32,309,000,000)
÷ 3,551,006,335 = 34.64
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q3 2026 Calculation
P/S ratio = Share price ÷ Sales per share
= 22.84 ÷ 34.64 = 0.66
5 Click competitor name to see calculations.
The valuation of the common stock exhibits a distinct downward trajectory over the analyzed period, characterized by a persistent compression of the price-to-sales (P/S) ratio despite steady growth in revenue per share.
- Sales per Share Performance
- A consistent upward trend is observed in sales per share, rising from 26.82 US$ in March 2022 to a peak of 35.20 US$ in June 2026. This indicates a sustained increase in the revenue generated per outstanding share throughout the period.
- Share Price Volatility and Decline
- The share price demonstrated significant volatility in the first two years, reaching a peak of 46.54 US$ in December 2023. Following this peak, a sustained decline occurred, with the price dropping to a low of 21.92 US$ in June 2026, representing a substantial loss in market value.
- Price to Sales (P/S) Ratio Compression
- The P/S ratio shows a clear long-term decline. Starting at 1.55 in March 2022, the ratio fluctuated before entering a steady descent. A significant valuation shift occurred between December 2024 and March 2025, where the ratio dropped below the 1.00 threshold. The ratio reached its lowest point of 0.62 in June 2026 before slightly recovering to 0.66 by September 2026.
The inverse correlation between increasing sales per share and decreasing share prices indicates a significant contraction in the valuation multiple. The market is attributing progressively less value to each dollar of revenue generated, suggesting a decline in investor confidence or a fundamental shift in the valuation benchmarks applied to the company's revenue stream.
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Price to Book Value (P/BV)
Comcast Corp., historical P/BV calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,551,006,335 | 3,548,636,573 | 3,572,228,557 | 3,597,845,994 | 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 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Total Comcast Corporation shareholders’ equity (in millions) | 92,529) | 89,763) | 88,274) | 96,903) | 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) | ||||||
| Book value per share (BVPS)2 | 26.06 | 25.30 | 24.71 | 26.93 | 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 | ||||||
| Share price1, 3 | 22.84 | 21.92 | 31.64 | 29.76 | 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 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/BV ratio4 | 0.88 | 0.87 | 1.28 | 1.10 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||
| Alphabet Inc. | 5.12 | 6.08 | 9.67 | 9.65 | 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 | ||||||
| Meta Platforms Inc. | 6.09 | 5.26 | 6.37 | 8.60 | 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 | ||||||
| Netflix Inc. | 9.12 | 9.52 | 13.17 | 13.66 | 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 | ||||||
| Walt Disney Co. | 1.60 | 1.73 | 1.71 | 1.75 | 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 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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 Data adjusted for splits and stock dividends.
2 Q3 2026 Calculation
BVPS = Total Comcast Corporation shareholders’ equity ÷ No. shares of common stock outstanding
= 92,529,000,000 ÷ 3,551,006,335 = 26.06
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q3 2026 Calculation
P/BV ratio = Share price ÷ BVPS
= 22.84 ÷ 26.06 = 0.88
5 Click competitor name to see calculations.
An analysis of the common stock valuation ratios from March 2022 to September 2026 reveals a divergence between the market valuation of shares and the underlying book value. While the book value per share generally appreciated over the period, the share price experienced a significant long-term decline, resulting in a substantial contraction of the Price to Book Value (P/BV) ratio.
- Share Price Performance
- The share price exhibited notable volatility throughout the period. After an initial range between 31.97 and 41.70 in 2022, the price peaked at 46.54 in December 2023. Subsequently, a sustained downward trend emerged, with the price falling consistently through 2024 and 2025, eventually reaching a low of 21.92 in March 2026 and closing the period at 22.84 in September 2026.
- Book Value per Share (BVPS) Evolution
- The BVPS demonstrated a steady upward trajectory for the majority of the observed timeframe. Starting at 21.13 in March 2022, the value increased to 26.93 by December 2025. Although a temporary decrease to 24.71 occurred in March 2026, the BVPS recovered to 26.06 by September 2026, indicating an overall growth in the company's net asset value per share.
- Price to Book Value (P/BV) Ratio Trend
- The P/BV ratio shifted from a premium valuation to a discount valuation over the analyzed period. From March 2022 through December 2023, the ratio remained relatively high, fluctuating between 1.72 and a peak of 2.24. A decisive decline began in 2024, with the ratio dropping to 1.43 by December 2024 and further declining to 1.03 by September 2025. In the final stages of the period, the ratio fell below the 1.0 threshold, ending at 0.88 in September 2026, which indicates that the equity is trading below its accounting book value.
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