Financials Comcast Corporation

Equities

CMCSA

US20030N1019

Wireless Telecommunications Services

Market Closed - Nasdaq Other stock markets 21:00:00 17/06/2025 BST			After hours 21:32:05
34.53 ^USD	-1.65%		34.70	+0.48%

02:52pm	Streaming Surpasses Combined Broadcast, Cable Viewing for First Time in May, Nielsen Reports	MT
06-12	Onto Innovation Appoints Brian Roberts as CFO	MT

Projected Income Statement: Comcast Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	103,564	116,385	121,427	121,572	123,731	122,388	125,937	125,632
Change	-	12.38%	4.33%	0.12%	1.78%	-1.09%	2.9%	-0.24%
EBITDA ¹	30,826	34,708	36,459	37,633	38,069	37,643	38,235	38,318
Change	-	12.59%	5.04%	3.22%	1.16%	-1.12%	1.57%	0.22%
EBIT ¹	17,493	20,817	22,624	23,314	23,297	22,434	22,987	23,032
Change	-	19%	8.68%	3.05%	-0.07%	-3.71%	2.46%	0.2%
Interest Paid ¹	-4,588	-4,281	-3,896	-4,087	-4,134	-4,138	-4,186	-4,360
Earnings before Tax (EBT) ¹	14,065	19,093	9,284	20,478	18,673	18,259	19,046	18,765
Change	-	35.75%	-51.37%	120.57%	-8.81%	-2.22%	4.31%	-1.47%
Net income ¹	10,534	14,159	5,370	15,388	16,192	13,759	14,227	14,028
Change	-	34.41%	-62.07%	186.55%	5.22%	-15.03%	3.4%	-1.39%
Announcement Date	28/01/21	27/01/22	26/01/23	25/01/24	30/01/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	23,715	25,532	27,708	27,205	28,546	30,298	30,336	31,010	30,016	29,849	30,552	29,691	30,513	30,115	31,253	30,058	29,688	32,070	31,915	29,887	29,787	30,615	32,134	32,092	30,399	30,805	32,286
Change	-	7.66%	8.52%	-1.82%	4.93%	6.14%	0.13%	2.22%	-3.21%	-0.56%	2.36%	-2.82%	2.77%	-1.3%	3.78%	-3.82%	-1.23%	8.02%	-0.48%	-6.35%	-0.34%	2.78%	4.96%	-0.13%	-5.28%	1.34%	4.81%
EBITDA ¹	7,927	7,583	7,186	8,413	8,927	8,957	8,411	9,150	9,827	9,482	8,000	9,415	10,244	9,962	8,012	9,355	10,171	9,735	8,807	9,532	9,970	9,629	8,580	9,792	10,051	9,711	8,900
Change	-	-4.34%	-5.24%	17.07%	6.11%	0.34%	-6.1%	8.79%	7.4%	-3.51%	-15.63%	17.69%	8.81%	-2.75%	-19.57%	16.76%	8.72%	-4.29%	-9.53%	8.23%	4.59%	-3.42%	-10.9%	14.14%	2.64%	-3.38%	-8.36%
EBIT ¹	4,647	4,076	3,918	5,039	5,507	5,450	4,821	5,569	6,367	6,158	4,530	5,646	6,709	6,475	4,484	5,810	6,635	5,859	4,993	5,658	6,275	5,813	4,725	6,125	6,371	5,741	4,817
Change	-	-12.29%	-3.88%	28.61%	9.29%	-1.04%	-11.54%	15.52%	14.33%	-3.28%	-26.44%	24.64%	18.83%	-3.49%	-30.75%	29.57%	14.2%	-11.7%	-14.78%	13.32%	10.91%	-7.36%	-18.72%	29.61%	4.03%	-9.89%	-16.11%
Charge d'intérêts ¹	-1,112	-1,220	-1,044	-1,018	-1,093	-1,050	-1,120	-993	-968	-960	-974	-1,010	-998	-1,060	-1,020	-1,002	-1,026	-1,037	-1,069	-1,050	-1,032	-1,032	-1,034	-1,077	-1,073	-1,075	-1,079
Earnings before Tax (EBT) ¹	3,955	2,770	4,416	4,411	5,630	5,166	3,885	4,764	4,502	-3,652	3,670	5,243	5,726	5,465	4,043	5,105	5,175	4,819	3,574	4,492	5,248	4,808	3,702	4,942	5,393	4,743	3,817
Change	-	-29.96%	59.42%	-0.11%	27.64%	-8.24%	-24.8%	22.63%	-5.5%	-181.12%	200.49%	42.86%	9.21%	-4.56%	-26.02%	26.27%	1.37%	-6.88%	-25.84%	25.69%	16.83%	-8.39%	-23.01%	33.5%	9.13%	-12.04%	-19.52%
Net income ¹	2,988	2,019	3,380	3,329	3,738	4,035	3,057	3,549	3,396	-4,598	3,024	3,834	4,248	4,046	3,260	3,857	3,929	3,629	4,778	3,375	3,977	3,607	2,785	3,834	4,183	3,689	3,000
Change	-	-32.43%	67.41%	-1.51%	12.29%	7.95%	-24.24%	16.09%	-4.31%	-235.39%	165.77%	26.79%	10.8%	-4.76%	-19.43%	18.31%	1.87%	-7.64%	31.66%	-29.36%	17.83%	-9.3%	-22.8%	37.67%	9.12%	-11.82%	-18.67%
Announcement Date	30/07/20	29/10/20	28/01/21	29/04/21	29/07/21	28/10/21	27/01/22	28/04/22	28/07/22	27/10/22	26/01/23	27/04/23	27/07/23	26/10/23	25/01/24	25/04/24	23/07/24	31/10/24	30/01/25	24/04/25	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Comcast Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	92,020	91,309	90,062	90,875	91,771	89,819	89,815	90,808
Change	-	-0.77%	-1.37%	0.9%	0.99%	-2.13%	-0%	1.11%
Announcement Date	28/01/21	27/01/22	26/01/23	25/01/24	30/01/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Comcast Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	9,179	9,174	10,626	12,242	12,181	11,145	11,252	11,222
Change	-	-0.05%	15.83%	15.21%	-0.5%	-8.51%	0.97%	-0.27%
Free Cash Flow (FCF) ¹	13,280	17,089	12,646	12,962	12,543	15,794	15,301	14,926
Change	-	28.68%	-26%	2.5%	-3.23%	25.92%	-3.12%	-2.45%
Announcement Date	28/01/21	27/01/22	26/01/23	25/01/24	30/01/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Comcast Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	29.77%	29.82%	30.03%	30.96%	30.77%	30.76%	30.36%	30.5%
EBIT Margin (%)	16.89%	17.89%	18.63%	19.18%	18.83%	18.33%	18.25%	18.33%
EBT Margin (%)	13.58%	16.41%	7.65%	16.84%	15.09%	14.92%	15.12%	14.94%
Net margin (%)	10.17%	12.17%	4.42%	12.66%	13.09%	11.24%	11.3%	11.17%
FCF margin (%)	12.82%	14.68%	10.41%	10.66%	10.14%	12.9%	12.15%	11.88%
FCF / Net Income (%)	126.07%	120.69%	235.49%	84.23%	77.46%	114.79%	107.55%	106.4%
Profitability
ROA	3.92%	5.15%	6.06%	5.89%	6.38%	5.56%	5.51%	5.61%
ROE	12.17%	16.14%	18.24%	20.16%	20.13%	16.77%	17.54%	17.04%
Financial Health
Leverage (Debt/EBITDA)	2.99x	2.63x	2.47x	2.41x	2.41x	2.39x	2.35x	2.37x
Debt / Free cash flow	6.93x	5.34x	7.12x	7.01x	7.32x	5.69x	5.87x	6.08x
Capital Intensity
CAPEX / Current Assets (%)	8.86%	7.88%	8.75%	10.07%	9.84%	9.11%	8.94%	8.93%
CAPEX / EBITDA (%)	29.78%	26.43%	29.15%	32.53%	32%	29.61%	29.43%	29.29%
CAPEX / FCF (%)	69.12%	53.68%	84.03%	94.45%	97.11%	70.56%	73.54%	75.18%
Items per share
Cash flow per share ¹	5.35	6.263	5.962	6.871	7.081	8.069	8.356	8.739
Change	-	17.06%	-4.79%	15.24%	3.06%	13.96%	3.55%	4.59%
Dividend per Share ¹	0.92	1	1.08	1.16	1.24	1.318	1.406	1.502
Change	-	8.7%	8%	7.41%	6.9%	6.29%	6.66%	6.87%
Book Value Per Share ¹	19.53	20.65	18.27	19.94	21.89	24.22	26.98	29.87
Change	-	5.7%	-11.5%	9.12%	9.81%	10.61%	11.42%	10.69%
EPS ¹	2.28	3.04	1.21	3.71	4.14	3.687	4.047	4.292
Change	-	33.33%	-60.2%	206.61%	11.59%	-10.95%	9.77%	6.06%
Nbr of stocks (in thousands)	4,575,323	4,568,923	4,323,409	4,025,080	3,826,540	3,733,704	3,733,704	3,733,704
Announcement Date	28/01/21	27/01/22	26/01/23	25/01/24	30/01/25	-	-	-