Comcast Corp. (CMCSA)


Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Difficulty: Beginner

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)

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Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Price to earnings (P/E) 16.01 14.11 6.74 6.64 6.80 8.70 16.91 19.34 20.57 20.56 17.88 20.15 18.06 17.78 18.63 17.87 17.24 18.01
Price to operating profit (P/OP) 9.97 8.71 8.77 8.58 8.74 10.98 9.34 10.45 10.85 10.61 9.02 10.14 9.19 9.07 9.58 10.03 9.70 10.12
Price to sales (P/S) 1.98 1.75 1.84 1.82 1.82 2.34 2.03 2.21 2.29 2.22 1.90 2.16 1.97 1.95 2.07 2.19 2.13 2.19
Price to book value (P/BV) 2.60 2.31 2.28 2.25 2.28 2.88 3.06 3.38 3.41 3.31 2.80 3.09 2.83 2.78 2.92 2.97 2.83 2.86 2.57 2.75 2.58

Based on: 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-01-31), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-01-31), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-05-04), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-10-23), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-22).

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 increased from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
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 declined from Q3 2018 to Q4 2018 but then increased from Q4 2018 to Q1 2019 exceeding Q3 2018 level.
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 declined from Q3 2018 to Q4 2018 but then increased from Q4 2018 to Q1 2019 exceeding Q3 2018 level.
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 increased from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Price to Earnings (P/E)

Comcast Corp., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
No. shares of common stock outstanding1 4,538,515,208 4,525,962,522 4,549,504,769 4,581,933,382 4,617,116,267 4,644,508,017 4,673,771,830 4,713,372,385 4,742,956,869 4,751,603,386 4,785,664,788 4,823,651,372 4,854,391,186 4,884,796,726 4,914,459,046 4,984,856,532 5,027,086,324 5,082,134,148 5,152,594,722 5,176,206,070 5,199,608,478
Selected Financial Data (USD $)
Net income attributable to Comcast Corporation (in millions) 3,553  2,511  2,886  3,216  3,118  14,985  2,650  2,513  2,566  2,296  2,237  2,028  2,134  1,971  1,996  2,137  2,059  1,925  2,592  1,992  1,871 
Earnings per share (EPS)3 2.68 2.59 5.32 5.23 5.04 4.89 2.14 2.04 1.92 1.83 1.75 1.69 1.70 1.67 1.65 1.75 1.70 1.65 0.00 0.00 0.00
Share price1, 2 42.93 36.57 35.84 34.75 34.26 42.53 36.27 39.43 39.59 37.63 31.28 33.96 30.65 29.71 30.77 31.24 29.39 29.69 26.61 27.57 25.42
Ratio
P/E ratio4 16.01 14.11 6.74 6.64 6.80 8.70 16.91 19.34 20.57 20.56 17.88 20.15 18.06 17.78 18.63 17.87 17.24 18.01

Based on: 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-01-31), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-01-31), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-05-04), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-10-23), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-22).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Comcast Corp.’s Quarterly or Annual Report.

Q1 2019 Calculations

3 EPS = (Net income attributable to Comcast CorporationQ1 2019 + Net income attributable to Comcast CorporationQ4 2018 + Net income attributable to Comcast CorporationQ3 2018 + Net income attributable to Comcast CorporationQ2 2018) ÷ No. shares of common stock outstanding
= (3,553,000,000 + 2,511,000,000 + 2,886,000,000 + 3,216,000,000) ÷ 4,538,515,208 = 2.68

4 P/E ratio = Share price ÷ EPS
= 42.93 ÷ 2.68 = 16.01

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 increased from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Price to Operating Profit (P/OP)

Comcast Corp., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
No. shares of common stock outstanding1 4,538,515,208 4,525,962,522 4,549,504,769 4,581,933,382 4,617,116,267 4,644,508,017 4,673,771,830 4,713,372,385 4,742,956,869 4,751,603,386 4,785,664,788 4,823,651,372 4,854,391,186 4,884,796,726 4,914,459,046 4,984,856,532 5,027,086,324 5,082,134,148 5,152,594,722 5,176,206,070 5,199,608,478
Selected Financial Data (USD $)
Operating income (in millions) 5,182  4,514  4,836  5,014  4,645  4,107  4,792  4,558  4,530  4,264  4,440  4,066  4,089  4,002  4,001  4,105  3,890  3,787  3,745  3,804  3,568 
Operating profit per share3 4.31 4.20 4.09 4.05 3.92 3.87 3.88 3.77 3.65 3.55 3.47 3.35 3.34 3.28 3.21 3.11 3.03 2.93 0.00 0.00 0.00
Share price1, 2 42.93 36.57 35.84 34.75 34.26 42.53 36.27 39.43 39.59 37.63 31.28 33.96 30.65 29.71 30.77 31.24 29.39 29.69 26.61 27.57 25.42
Ratio
P/OP ratio4 9.97 8.71 8.77 8.58 8.74 10.98 9.34 10.45 10.85 10.61 9.02 10.14 9.19 9.07 9.58 10.03 9.70 10.12

Based on: 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-01-31), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-01-31), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-05-04), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-10-23), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-22).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Comcast Corp.’s Quarterly or Annual Report.

Q1 2019 Calculations

3 Operating profit per share = (Operating incomeQ1 2019 + Operating incomeQ4 2018 + Operating incomeQ3 2018 + Operating incomeQ2 2018) ÷ No. shares of common stock outstanding
= (5,182,000,000 + 4,514,000,000 + 4,836,000,000 + 5,014,000,000) ÷ 4,538,515,208 = 4.31

4 P/OP ratio = Share price ÷ Operating profit per share
= 42.93 ÷ 4.31 = 9.97

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 declined from Q3 2018 to Q4 2018 but then increased from Q4 2018 to Q1 2019 exceeding Q3 2018 level.

Price to Sales (P/S)

Comcast Corp., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
No. shares of common stock outstanding1 4,538,515,208 4,525,962,522 4,549,504,769 4,581,933,382 4,617,116,267 4,644,508,017 4,673,771,830 4,713,372,385 4,742,956,869 4,751,603,386 4,785,664,788 4,823,651,372 4,854,391,186 4,884,796,726 4,914,459,046 4,984,856,532 5,027,086,324 5,082,134,148 5,152,594,722 5,176,206,070 5,199,608,478
Selected Financial Data (USD $)
Revenue (in millions) 26,859  27,846  22,135  21,735  22,791  21,915  20,983  21,165  20,463  21,025  21,319  19,269  18,790  19,245  18,669  18,743  17,853  17,732  16,791  16,844  17,408 
Sales per share3 21.72 20.88 19.47 19.08 18.81 18.20 17.89 17.82 17.30 16.92 16.43 15.75 15.54 15.25 14.85 14.27 13.77 13.53 0.00 0.00 0.00
Share price1, 2 42.93 36.57 35.84 34.75 34.26 42.53 36.27 39.43 39.59 37.63 31.28 33.96 30.65 29.71 30.77 31.24 29.39 29.69 26.61 27.57 25.42
Ratio
P/S ratio4 1.98 1.75 1.84 1.82 1.82 2.34 2.03 2.21 2.29 2.22 1.90 2.16 1.97 1.95 2.07 2.19 2.13 2.19

Based on: 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-01-31), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-01-31), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-05-04), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-10-23), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-22).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Comcast Corp.’s Quarterly or Annual Report.

Q1 2019 Calculations

3 Sales per share = (RevenueQ1 2019 + RevenueQ4 2018 + RevenueQ3 2018 + RevenueQ2 2018) ÷ No. shares of common stock outstanding
= (26,859,000,000 + 27,846,000,000 + 22,135,000,000 + 21,735,000,000) ÷ 4,538,515,208 = 21.72

4 P/S ratio = Share price ÷ Sales per share
= 42.93 ÷ 21.72 = 1.98

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 declined from Q3 2018 to Q4 2018 but then increased from Q4 2018 to Q1 2019 exceeding Q3 2018 level.

Price to Book Value (P/BV)

Comcast Corp., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
No. shares of common stock outstanding1 4,538,515,208 4,525,962,522 4,549,504,769 4,581,933,382 4,617,116,267 4,644,508,017 4,673,771,830 4,713,372,385 4,742,956,869 4,751,603,386 4,785,664,788 4,823,651,372 4,854,391,186 4,884,796,726 4,914,459,046 4,984,856,532 5,027,086,324 5,082,134,148 5,152,594,722 5,176,206,070 5,199,608,478
Selected Financial Data (USD $)
Total Comcast Corporation shareholders’ equity (in millions) 74,959  71,613  71,523  70,694  69,482  68,606  55,427  55,005  55,059  53,943  53,481  53,098  52,642  52,269  51,716  52,400  52,171  52,711  53,298  51,971  51,268 
Book value per share (BVPS)3 16.52 15.82 15.72 15.43 15.05 14.77 11.86 11.67 11.61 11.35 11.18 11.01 10.84 10.70 10.52 10.51 10.38 10.37 10.34 10.04 9.86
Share price1, 2 42.93 36.57 35.84 34.75 34.26 42.53 36.27 39.43 39.59 37.63 31.28 33.96 30.65 29.71 30.77 31.24 29.39 29.69 26.61 27.57 25.42
Ratio
P/BV ratio4 2.60 2.31 2.28 2.25 2.28 2.88 3.06 3.38 3.41 3.31 2.80 3.09 2.83 2.78 2.92 2.97 2.83 2.86 2.57 2.75 2.58

Based on: 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-01-31), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-01-31), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-05-04), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-10-23), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-22).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Comcast Corp.’s Quarterly or Annual Report.

Q1 2019 Calculations

3 BVPS = Total Comcast Corporation shareholders’ equity ÷ No. shares of common stock outstanding
= 74,959,000,000 ÷ 4,538,515,208 = 16.52

4 P/BV ratio = Share price ÷ BVPS
= 42.93 ÷ 16.52 = 2.60

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 increased from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.