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: 2026-03-31), 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).
The valuation multiples for Comcast Corp. exhibit a general trend of contraction across all metrics over the period from March 2022 to March 2026. While a period of significant expansion occurred between late 2022 and mid-2023, this was followed by a sustained decline in valuation ratios, indicating a reduction in the premium the market is willing to pay for the company's earnings, sales, and book value.
- Price to Earnings (P/E) and Price to Operating Profit (P/OP)
- Earnings-based multiples showed extreme volatility between March 2022 and June 2023. The P/E ratio peaked at 31.38 in December 2022 and the P/OP ratio reached 12.94 in June 2023. Following these peaks, both ratios entered a sharp decline. The P/E ratio dropped to a low of 4.40 in June 2025, while the P/OP ratio reached its nadir of 4.49 in September 2025. By March 2026, both ratios showed a slight recovery, closing at 6.01 and 5.90, respectively.
- Price to Sales (P/S)
- The P/S ratio followed a more gradual downward trajectory compared to earnings multiples. Starting at 1.55 in March 2022, the ratio fluctuated with moderate stability until late 2024, when it fell below the 1.00 threshold for the first time in December 2024. The ratio reached its lowest point of 0.81 in September 2025 before slightly recovering to 0.90 by March 2026.
- Price to Book Value (P/BV)
- The P/BV ratio remained relatively stable between 1.72 and 2.24 from March 2022 through December 2023. A consistent decline began in March 2024 (1.80), with the ratio decreasing steadily to 1.03 by September 2025. This suggests a convergence of the market price with the company's accounting book value. A modest uptrend returned in the final two quarters, ending at 1.28 in March 2026.
Overall, the data reveals a synchronized compression of valuation multiples. The transition from high multiples in 2022-2023 to significantly lower multiples in 2025-2026 suggests a fundamental shift in market sentiment or a repricing of the company's risk and growth profile.
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Price to Earnings (P/E)
Comcast Corp., historical P/E calculation (quarterly data)
| 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 | 3,572,228,557 | 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) | 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 | 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 | 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 | 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. | 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. | 22.01 | 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. | 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 | ||||||
| Trade Desk Inc. | — | 25.58 | 50.61 | 103.52 | 71.43 | 90.94 | 212.26 | 171.26 | 212.06 | 206.87 | 246.46 | 306.77 | 410.83 | 609.53 | — | 788.40 | 211.66 | ||||||
| Walt Disney Co. | 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: 2026-03-31), 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 Q1 2026 Calculation
EPS
= (Net income (loss) attributable to Comcast CorporationQ1 2026
+ Net income (loss) attributable to Comcast CorporationQ4 2025
+ Net income (loss) attributable to Comcast CorporationQ3 2025
+ Net income (loss) attributable to Comcast CorporationQ2 2025)
÷ No. shares of common stock outstanding
= (2,174,000,000 + 2,168,000,000 + 3,332,000,000 + 11,123,000,000)
÷ 3,572,228,557 = 5.26
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q1 2026 Calculation
P/E ratio = Share price ÷ EPS
= 31.64 ÷ 5.26 = 6.01
5 Click competitor name to see calculations.
An analysis of the valuation metrics reveals a significant transition in the price-to-earnings (P/E) profile, moving from a period of valuation expansion to a sustained phase of compression. The P/E ratio exhibited high volatility between March 2022 and June 2023, followed by a consistent downward trajectory through March 2026.
- Earnings Per Share (EPS) Trends
- Earnings demonstrated a cyclical pattern characterized by a sharp contraction in the second half of 2022, where values dropped from 3.18 to 1.25. This was followed by a robust recovery phase starting in September 2023, with EPS climbing from 3.76 to a peak of 6.20 by June 2025. A slight moderation occurred toward the end of the period, concluding at 5.26 in March 2026.
- Share Price Performance
- The share price exhibited moderate fluctuations in the initial period, peaking at 46.54 in December 2023. Subsequently, a general downward trend emerged, reaching a low of 27.32 in September 2025 before a modest recovery to 31.64 by March 2026. The price action generally failed to keep pace with the growth in earnings during the latter half of the observation period.
- P/E Ratio Dynamics
- The P/E ratio experienced a dramatic spike between September 2022 and June 2023, reaching a peak of 31.38. This inflation was primarily driven by the temporary collapse in EPS rather than a surge in share price. Following this peak, a severe contraction occurred; the ratio fell from 28.75 in June 2023 to a low of 4.40 in September 2025. This suggests a fundamental shift in market valuation, where the stock began trading at significantly lower multiples of its earnings despite improved profitability.
- Valuation Synthesis
- The inverse relationship between EPS and the P/E ratio is evident. As earnings expanded from approximately 3.90 in 2024 to over 6.00 in 2025, the P/E ratio compressed from the high single digits to the mid-single digits. This divergence indicates that the market applied a decreasing valuation multiple to the company's earnings over time, resulting in a lower share price despite higher profitability.
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Price to Operating Profit (P/OP)
Comcast Corp., historical P/OP calculation (quarterly data)
| 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 | 3,572,228,557 | 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) | 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 | 5.36 | 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 | 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 | 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. | 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. | 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. | 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 | ||||||
| Trade Desk Inc. | — | 19.24 | 42.06 | 90.92 | 64.99 | 83.69 | 173.83 | 142.04 | 169.07 | 184.64 | 241.10 | 269.27 | 295.72 | 286.30 | — | 669.01 | 212.81 | ||||||
| Walt Disney Co. | 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: 2026-03-31), 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 Q1 2026 Calculation
Operating profit per share
= (Operating income (loss)Q1 2026
+ Operating income (loss)Q4 2025
+ Operating income (loss)Q3 2025
+ Operating income (loss)Q2 2025)
÷ No. shares of common stock outstanding
= (4,135,000,000 + 3,488,000,000 + 5,534,000,000 + 5,992,000,000)
÷ 3,572,228,557 = 5.36
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q1 2026 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 31.64 ÷ 5.36 = 5.90
5 Click competitor name to see calculations.
An analysis of the valuation metrics from March 2022 through March 2026 reveals a significant compression in the Price to Operating Profit (P/OP) ratio, driven by a divergence between increasing operating efficiency and a declining equity valuation.
- Share Price Trajectory
- The share price exhibited moderate volatility in 2022 and 2023, reaching a peak of 46.54 USD in December 2023. Following this peak, a sustained downward trend occurred, with the price declining to a low of 27.32 USD by September 2025. A modest recovery was noted in the final two quarters, ending at 31.64 USD in March 2026.
- Operating Profit per Share Performance
- Operating profit per share demonstrated a distinct upward shift beginning in the second half of 2023. After fluctuating between 3.31 USD and 5.03 USD during 2022, the metric rose sharply to 5.80 USD in September 2023. Profitability remained robust and relatively stable throughout 2024 and 2025, maintaining levels above 5.75 USD, despite a slight dip to 5.36 USD in the final recorded quarter.
- P/OP Ratio Dynamics
- The P/OP ratio underwent a structural decline. In the period between March 2022 and June 2023, the ratio trended upward, peaking at 12.94. However, a sharp contraction occurred in September 2023, where the ratio dropped to 6.75. This downward pressure continued through 2024 and 2025, reaching a minimum of 4.49 in September 2025. The ratio concluded the period at 5.90 in March 2026.
- Valuation Synthesis
- The data indicates a valuation disconnect; while the company successfully increased and sustained its operating profit per share, the market price did not follow this growth trajectory. The resulting compression of the P/OP ratio suggests that the market applied a lower multiple to the company's operating earnings over time, shifting from a high-valuation regime in early 2023 to a significantly lower valuation regime by 2025 and 2026.
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Price to Sales (P/S)
Comcast Corp., historical P/S calculation (quarterly data)
| 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 | 3,572,228,557 | 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) | 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 | 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 | 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 | 0.90 | 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. | 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. | 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. | 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 | ||||||
| Trade Desk Inc. | — | 3.91 | 7.95 | 16.12 | 11.46 | 14.62 | 28.32 | 19.95 | 20.77 | 19.02 | 20.57 | 22.90 | 19.30 | 20.62 | 13.17 | 19.16 | 16.47 | ||||||
| Walt Disney Co. | 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: 2026-03-31), 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 Q1 2026 Calculation
Sales per share
= (RevenueQ1 2026
+ RevenueQ4 2025
+ RevenueQ3 2025
+ RevenueQ2 2025)
÷ No. shares of common stock outstanding
= (31,457,000,000 + 32,309,000,000 + 31,198,000,000 + 30,313,000,000)
÷ 3,572,228,557 = 35.07
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q1 2026 Calculation
P/S ratio = Share price ÷ Sales per share
= 31.64 ÷ 35.07 = 0.90
5 Click competitor name to see calculations.
The valuation of the common stock demonstrates a consistent downward trajectory in the Price to Sales (P/S) ratio from March 2022 through March 2026, characterized by a divergence between revenue growth and market pricing.
- Revenue Growth Trends
- Sales per share exhibited a steady and uninterrupted upward trend throughout the entire period. Starting at 26.82 US$ in March 2022, the figure rose incrementally each quarter, reaching 35.07 US$ by March 2026. This indicates a consistent increase in the company's ability to generate revenue on a per-share basis.
- Share Price Movement
- The share price experienced significant volatility, with an initial peak of 46.54 US$ in December 2023. Following this peak, a general downward trend emerged, with the price declining to 31.64 US$ by March 2026. The price fluctuations were more erratic than the linear growth observed in sales per share.
- P/S Ratio Compression
- The P/S ratio shifted from a range of 1.14 to 1.55 between March 2022 and December 2023 to a sustained decline thereafter. A notable transition occurred in early 2025, where the ratio dropped to 1.00 in March 2025 and further declined to a period low of 0.81 in September 2025. The period concluded with a ratio of 0.90 in March 2026.
The overall analysis indicates a contraction in the valuation multiple. Despite the continuous improvement in sales per share, the declining share price has led to a reduction in the P/S ratio. The shift from a valuation above 1.0 to a valuation below 1.0 suggests that the market is assigning a lower value to each dollar of revenue generated compared to the beginning of the analyzed period.
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Price to Book Value (P/BV)
Comcast Corp., historical P/BV calculation (quarterly data)
| 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 | 3,572,228,557 | 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) | 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 | 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 | 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 | 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. | 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. | 6.37 | 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. | 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 | ||||||
| Trade Desk Inc. | — | 4.56 | 8.53 | 16.02 | 10.84 | 12.12 | 24.91 | 18.04 | 19.70 | 17.10 | 17.47 | 19.15 | 16.36 | 15.38 | 10.20 | 14.95 | 12.90 | ||||||
| Walt Disney Co. | 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: 2026-03-31), 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 Q1 2026 Calculation
BVPS = Total Comcast Corporation shareholders’ equity ÷ No. shares of common stock outstanding
= 88,274,000,000 ÷ 3,572,228,557 = 24.71
3 Closing price as at the filing date of Comcast Corp. Quarterly or Annual Report.
4 Q1 2026 Calculation
P/BV ratio = Share price ÷ BVPS
= 31.64 ÷ 24.71 = 1.28
5 Click competitor name to see calculations.
The valuation metrics exhibit a significant compression in the Price to Book Value (P/BV) ratio over the analyzed period. While the ratio fluctuated between 1.72 and 2.24 from March 2022 through December 2023, a consistent downward trajectory emerged throughout 2024 and 2025, reaching a period low of 1.03 in September 2025 before a modest recovery to 1.28 by March 2026.
- Share Price Volatility
- The share price experienced moderate volatility in the first two years, peaking at 46.54 USD in December 2023. Following this peak, a sustained decline was observed throughout 2024 and 2025, with the price dropping to a minimum of 27.32 USD in September 2025. This downward pressure on the market price served as a primary driver for the contraction of the P/BV ratio.
- Book Value per Share (BVPS) Growth
- The book value per share demonstrated a general upward trend, moving from 21.13 USD in March 2022 to a peak of 26.93 USD in December 2025. A notable acceleration in BVPS growth occurred between December 2024 (22.63 USD) and June 2025 (26.23 USD), indicating an increase in the company's net asset value per share despite the declining market price.
- P/BV Ratio Interpretation
- The convergence of a declining share price and an increasing book value per share resulted in a sharp reduction of the P/BV ratio. The ratio dropped from 2.24 in December 2023 to 1.03 in September 2025, suggesting that the market's valuation of the company's assets shifted from a significant premium toward near-parity with the accounting book value. The subsequent increase to 1.28 in March 2026 coincides with a slight recovery in share price and a simultaneous contraction in BVPS to 24.71 USD.
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