# Comcast Corp (CMCSA) — Stock CV

Comcast Corp is a $73.4B communication services company. Revenue grew 0.6% over the last year, it keeps 9¢ of every dollar of sales as profit, and its net debt equals ~4.4 years of free cash flow. It trades at 6.5× earnings — in the cheapest third of its own history.

> Comcast is made up of three parts. The core cable business owns networks that provide television, internet access, and phone services to 65 million US homes and businesses, or nearly half of the country.

## Identity

- **Ticker**: CMCSA
- **Sector**: Communication Services
- **Industry**: Cable & Other Pay Television Services
- **Headquarters**: PHILADELPHIA, PA
- **Employees**: 179 000
- **Website**: https://www.comcastcorporation.com
- **Market cap**: $73.4B
- **Last price**: $20.68
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $125B
- **Net income**: $11.2B
- **Free cash flow**: $20.4B
- **Net debt**: $89.5B
- **P/E**: 6.5
- **Revenue growth (YoY)**: 0.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 100 |
| Growth | 29 |
| Profitability | 49 |
| Health | 32 |
| Quality | 97 |
| Moat | 43 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +0.6% YoY
- [x] Profitable — $11.2B TTM
- [x] Profit growing — +64.5% YoY
- [x] Generates cash — $20.4B TTM
- [x] Debt under control — ~4.4y of cash flow to repay
- [x] Established company — $73.4B market cap
- [x] Not printing shares — -16.4% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — Altman Z 0.9 — distress
- [x] Pays a dividend — yield 6.63%
- [x] Valuation not extreme — P/E 6.5

## Experience (career milestones)

- **FY2019** — Revenue crossed $100B: $109B for the year
- **2019** — Universal took over distribution of DreamWorks Animation films beginning in 2019 with How to Train Your Dragon: The…
- **2018** — Comcast has been the parent company of Sky Group since 2018, when it dropped out of the running to buy 21st Century…
- **FY2017** — Best year on record: $22.7B net income
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $50B: $80.4B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2001** — Comcast announced it would acquire the assets of the largest cable television operator at the time, AT&T…
- **1999** — Comcast purchased Lenfest Communications, who were the ninth largest cable television operator at…
- **1997** — Microsoft invested $1 billion in Comcast, and the company launched its digital television service
- **1988** — Comcast also acquired American Cellular Network Corporation in 1988 for $230 million, marking the first time it…
- **1977** — HBO was first launched on a Comcast system with 20,000 customers in western Pennsylvania with a five-night…
- **Jun 29, 1972** — Comcast's initial public offering occurred on June 29, 1972, on the National Association of Securities Dealers…
- **Mar 5, 1969** — The company was re-incorporated in Pennsylvania on March 5, 1969, under the new name Comcast Corporation
- **1968** — American Cable Systems purchased its first franchise of Muzak, a brand of background music played in retail…

## Strengths

- High gross margin (69.4%)
- Strong cash conversion — FCF is 16.4% of revenue
- Interest covered 6.1× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- Altman Z-Score 0.92 — elevated financial-distress risk

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $116B | $14.2B | $20.0B |
| FY2022 | $121B | $5.37B | $15.8B |
| FY2023 | $122B | $15.4B | $16.3B |
| FY2024 | $124B | $16.2B | $15.5B |
| FY2025 | $124B | $20.0B | $21.9B |

---

Source: https://stockcv.com/CMCSA — derived from company filings; may be delayed or incomplete. Information, not investment advice.