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Communication Services · NASDAQ: CMCSA

Comcast: how the business works

Comcast sells internet, mobile and TV service to homes and businesses and owns NBCUniversal, with revenue of $123.7 billion and net income of $20.0 billion in FY2025.

By · Checked against filings: . Editorial policy. Corrections

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Comcast Corporation · Philadelphia, Pennsylvania

Updated for Q3 FY2026 · checked

Revenue, FY2025
$123.7B
Net income, FY2025 (includes a $9.4B pre-tax Hulu sale gain)
$20.0B
US home broadband customers, Sep 30, 2026
28.3 million
Total debt, Sep 30, 2026
$87.4B
Employees (full-time equivalent), Dec 31, 2025
About 179,000

For learning only. Cityfort is not a registered investment adviser or broker-dealer and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

The short version

Comcast in 5 points

  1. 1 · What it sells

    Comcast sells internet, mobile and TV service under Xfinity and Sky, and owns NBC, Telemundo, Peacock, Universal films and Universal theme parks, with $123.7 billion of revenue in FY2025.

    More: what it sells

  2. 2 · Who pays it

    In FY2025, households paid 54.7% of Comcast's segment revenue, advertisers, TV distributors and Peacock subscribers 21.0%, film and TV buyers 8.7%, businesses 7.9% and theme-park visitors 7.6%, before $8,535 million of sales between segments is removed.

    More: who pays it

  3. 3 · What it keeps from $100

    Of every $100 that came in during FY2025, Comcast kept $15.01 as net income, which includes a one-off $9.4 billion pre-tax gain on the Hulu sale, and operating income was $16.71 per $100 of revenue.

    More: what it keeps from $100

  4. 4 · Where the operating profit comes from

    In FY2025, Residential Connectivity & Platforms earned 67.0% of the five segments' Adjusted EBITDAOperating profit before wear-and-tear charges (depreciation and amortization). As a margin: per $100 of sales. (Comcast's segment profit measure), Business Services 14.4%, Media 8.0%, Theme Parks 7.7% and Studios 2.8%.

    More: where the operating profit comes from

  5. 5 · The one thing to watch

    Domestic broadband customers fell to 28.3 million on Sep 30, 2026 from 28.9 million a year earlier, while domestic wireless lines rose to 10.6 million from 8.9 million.

    More: the one thing to watch

Sources: From Comcast's FY2025 10-K and Q3 FY2026 earnings release · checked

See the full receipt and the management scorecard below

Sources (2)
Next: Where $100 goes

01Where the money goes · FY2025

Where does $100 of Comcast's money go?

Of every $100 that came in (revenue plus other income), this is where it went.

Comcast · FY2025

Receipt for every $100

Where $100 of Comcast's money went in FY2025
Other operating and admin costs$32.3
Programming and production$26.2
Depreciation and amortization$12.2
Marketing and promotion$6.7
Interest$3.3
Income tax, less outside partners' losses$4.3
Kept as net income$15.0
Total$100

Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.

How this is worked out

Of every $100 that came in during FY2025 (revenue $123,707 million + investment and other income $9,503 million = $133,210 million). Cityfort calculation from the FY2025 10-K. The other income is mostly a one-off $9.4 billion pre-tax gain on the June 2025 Hulu sale. The tax line is net of a $338 million loss recorded by outside partners. On revenue alone, operating income was $16.71 per $100 of revenue.

Sources (1)
Next: The business in one line

Each week: one company explained in 5 points, picked by earnings date.

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02The business in one line

What does Comcast do?

Households and businesses pay Comcast monthly for internet, mobile and TV, while advertisers, TV distributors, viewers and park visitors pay its NBCUniversal side; most of the money goes on running costs and programming, and what is left is profit.

  • Residential Connectivity & Platforms (home internet, mobile and TV) brought in 54.7% of FY2025 segment revenue, and Media (TV networks and Peacock) 21.0%.
  • Comcast kept $15.01 of every $100 that came in during FY2025, helped by the Hulu sale gain. Net income was $20.0 billion, against $16.2 billion in FY2024.
Next: Who pays it

03Who pays it

Who pays Comcast?

  • Households (Residential Connectivity & Platforms)

    55%

    of revenue

    Monthly bills for US internet ($25,837 million), TV ($26,387 million), US mobile ($4,967 million), internet and mobile in the UK and Italy ($4,963 million) and other services, plus advertising sold on TV packages. Revenue was $70,704 million in FY2025. That is 54.7% of the five segments' revenue.

  • Advertisers, TV distributors and Peacock subscribers (Media)

    21%

    of revenue

    Advertising ($8,382 million in the US), fees from TV distributors that carry its channels ($11,613 million) and international networks. Revenue was $27,090 million in FY2025. Part of the distribution fees comes from Comcast's own TV service. That is 21.0% of the five segments' revenue.

  • Film and TV buyers and cinema-goers (Studios)

    9%

    of revenue

    Content licensing ($8,199 million) and cinema ticket share ($1,621 million). Revenue was $11,286 million in FY2025. Some licensing is to Comcast's own Media segment. That is 8.7% of the five segments' revenue.

  • Businesses (Business Services Connectivity)

    8%

    of revenue

    Internet, voice, wireless and network services for small firms and large companies. Revenue was $10,237 million in FY2025. That is 7.9% of the five segments' revenue.

  • Theme-park visitors (Theme Parks)

    8%

    of revenue

    Tickets, hotels, food and merchandise at Universal parks. Revenue was $9,836 million in FY2025. That is 7.6% of the five segments' revenue.

  • Households (Residential Connectivity & Platforms)55%
  • Advertisers, TV distributors and Peacock subscribers (Media)21%
  • Film and TV buyers and cinema-goers (Studios)9%
  • Businesses (Business Services Connectivity)8%
  • Theme-park visitors (Theme Parks)8%

How spread out the customers are

Shares are of the five segments' FY2025 revenue ($129,153 million), before Comcast removes $8,535 million of sales between its own segments; a Cityfort calculation from the FY2025 10-K. The 10-K names no single customer as a large share of revenue.

Sources (1)
Next: Why it makes money

04Why it makes money

Why does Comcast make money?

Comcast earns most of its segment profit from monthly bills for internet, mobile and TV on its own network.

In FY2025, Connectivity & Platforms earned 81.4% of the five segments' Adjusted EBITDA (Comcast's segment profit measure). Business Services kept $55.9 per $100 of revenue on that measure. Capital spending on the network and other assets was $11,750 million in FY2025.

Operating income per $100 of revenue

$17.9$16.7

FY2021 to FY2025

  1. Comcast builds and upgrades its cable and fiber network.
  2. Homes and businesses sign up for internet, often with mobile and TV.
  3. They pay a bill every month for as long as they stay.
  4. Bills cover network running costs, programming and staff.
  5. What is left pays interest, dividends, buybacks and more network.

↺ Step 5 feeds back into step 1.

Sources (2)
Next: Business segments

05Business segments · FY2025

Which businesses make up Comcast?

  • Residential Connectivity & Platforms

    55%

    Internet, mobile, TV and voice for homes in the US, UK and Italy. Its share of the five segments' revenue was 54.7%. Its Adjusted EBITDA (Comcast's segment profit measure, before depreciation and amortization) was $26,653 million, or 67.0% of the five segments' total.

    Revenue $70.7B · Operating profit $26.7B

  • Media

    21%

    NBC, Telemundo, cable channels, Peacock and Sky Sports; FY2025 includes the Versant channels. Its share of the five segments' revenue was 21.0%. Adjusted EBITDA was $3,196 million, or 8.0%.

    Revenue $27.1B · Operating profit $3.2B

  • Studios

    9%

    Universal and Sky film and TV studios. Its share of the five segments' revenue was 8.7%. Adjusted EBITDA was $1,099 million, or 2.8%.

    Revenue $11.3B · Operating profit $1.1B

  • Business Services Connectivity

    8%

    Comcast Business and Sky Business services for companies. Its share of the five segments' revenue was 7.9%. Adjusted EBITDA was $5,725 million, or 14.4%, at $55.9 per $100 of the segment's revenue.

    Revenue $10.2B · Operating profit $5.7B

  • Theme Parks

    8%

    Universal parks in Orlando, Hollywood, Japan and Beijing. Its share of the five segments' revenue was 7.6%. Adjusted EBITDA was $3,080 million, or 7.7%.

    Revenue $9.8B · Operating profit $3.1B

How the mix changed

  • Residential Connectivity & Platforms
  • Media
  • Studios
  • Business Services Connectivity
  • Theme Parks

Revenue by segment, FY2021 to FY2025.

US$

See the numbers
How the mix changed (US$)
YearResidential Connectivity & PlatformsMediaStudiosBusiness Services ConnectivityTheme Parks
FY2021$72.7B$27.4B$10.1B$8.1B$5.1B
FY2022$72.4B$26.7B$12.3B$8.8B$7.5B
FY2023$71.9B$25.4B$11.6B$9.3B$8.9B
FY2024$71.6B$28.1B$11.1B$9.7B$8.6B
FY2025$70.7B$27.1B$11.3B$10.2B$9.8B
Sources (2)
Next: How has it done

06The numbers · Consolidated · US$

How has Comcast done?

Revenue

$123.7BFY2025

Revenue rose from $116.4 billion in FY2021 to $123.7 billion in FY2024 and FY2025, and Q3 FY2026 revenue was 6.1% lower than a year earlier after Versant left on Jan 2, 2026 and Sky Germany was sold on May 31, 2026.

US$

See the numbers
Revenue (US$)
PeriodRevenue (US$)
FY2021$116.4B
FY2022$121.4B
FY2023$121.6B
FY2024$123.7B
FY2025$123.7B
Q3 FY2024$32.1B
Q4 FY2024$31.9B
Q1 FY2025$29.9B
Q2 FY2025$30.3B
Q3 FY2025$31.2B
Q4 FY2025$32.3B
Q1 FY2026$31.5B
Q2 FY2026$29.9B
Q3 FY2026$29.3B

Net profit

$20.0BFY2025

Net income attributable to Comcast reached $20.0 billion in FY2025, including a $9.4 billion pre-tax gain on the Hulu sale, and fell to $5.4 billion in FY2022 after $8.6 billion of Sky impairments.

US$

See the numbers
Net profit (US$)
PeriodNet profit (US$)EPS ($)
FY2021$14.2B$3.04
FY2022$5.4B$1.21
FY2023$15.4B$3.71
FY2024$16.2B$4.14
FY2025$20.0B$5.39
Q3 FY2024$3.6B$0.94
Q4 FY2024$4.8B$1.24
Q1 FY2025$3.4B$0.89
Q2 FY2025$11.1B$2.98
Q3 FY2025$3.3B$0.90
Q4 FY2025$2.2B$0.60
Q1 FY2026$2.2B$0.60
Q2 FY2026$3.5B$0.99
Q3 FY2026$3.4B$0.97

Profit kept per $100 of revenue

$16.2FY2025

Comcast kept $16.2 of net income per $100 of revenue in FY2025 because of the Hulu gain, while operating income fell to $16.7 per $100 from $18.8 in FY2024 and depreciation and amortization rose to $16.2 billion from $14.8 billion.

$ of profit per $100 of revenue (net margin)

See the numbers
Profit kept per $100 of revenue ($ of profit per $100 of revenue (net margin))
YearNet marginEBITDA margin
FY202112.2%29.7%
FY20224.4%22.9%
FY202312.7%31.0%
FY202413.1%30.8%
FY202516.2%29.8%

Free cash flow

$21.9BFY2025

Free cash flow (cash from operations minus capital spending) rose to $21.9 billion in FY2025 from $15.5 billion in FY2024, helped by lower tax payments, Comcast says.

US$ · cash from operations minus spending on plants and equipment

See the numbers
Free cash flow (US$ · cash from operations minus spending on plants and equipment)
YearCash from operationsCapital spendingFree cash flow
FY2021$29.1B$9.2B$20.0B
FY2022$26.4B$10.6B$15.8B
FY2023$28.5B$12.2B$16.3B
FY2024$27.7B$12.2B$15.5B
FY2025$33.6B$11.8B$21.9B
See all yearly numbers
Comcast annual financials, FY2021–FY2025, US$
YearRevenueEBITDANet profitEPS ($)Net income, total (US$)Operating cashCapexFree cash
FY2021$116.4B$34.6B$14.2B$3.04$13.8B$29.1B$9.2B$20.0B
FY2022$121.4B$27.9B$5.4B$1.21$4.9B$26.4B$10.6B$15.8B
FY2023$121.6B$37.7B$15.4B$3.71$15.1B$28.5B$12.2B$16.3B
FY2024$123.7B$38.1B$16.2B$4.14$15.9B$27.7B$12.2B$15.5B
FY2025$123.7B$36.9B$20.0B$5.39$19.7B$33.6B$11.8B$21.9B

EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (Fiscal year is the calendar year, ending Dec 31. Versant (spun off Jan 2, 2026) and Sky Germany (sold May 31, 2026) are not shown as discontinued operations, so FY2025 and earlier include them.). Net profit is the share belonging to the company's owners. Total net income differs from net profit to the company's owners: Outside partners recorded a $338 million loss, so net income attributable to Comcast is higher than total net income. FY2025 includes a $9.4 billion pre-tax gain on the Hulu sale.

Download Comcast's yearly and quarterly numbers (CSV, with source ids)

Learn: Fiscal years that don't end in December: Nvidia's FY2027 explained · Stock-based compensation and dilution: pay that becomes shares

Sources (13)
Next: What they said, and what happened

07Who runs it

Who runs Comcast, and did they deliver?

  • Brian L. Roberts

    Chairman and Co-Chief Executive Officer · since 1988

    Director since March 1988. Controls all Class B shares, with 33 1/3% of the votes. Comcast says he will stay involved in running both Comcast and NBCUniversal after the planned spin-off.

  • Michael J. Cavanagh

    Co-Chief Executive Officer · since 2026

    Co-CEO from Jan 2, 2026. Comcast says he will be NBCUniversal's CEO after the spin-off. His employment agreement included a performance-based stock award valued at about $35 million.

  • Michael Angelakis

    Strategic Advisor; named as Comcast CEO after the spin-off

    Comcast's former Chief Financial Officer. Comcast said on Jun 29, 2026 that he will become Comcast's CEO once the separation is completed.

What they said, and what happened

1 partly delivered · 2 delivered · 2 too early to tell

  1. Said on Jan 31, 2025

    Complete the Versant spin-off, targeting the end of 2025.

    What happened

    The spin-off was completed on Jan 2, 2026, two days after the end-of-2025 target. Shareholders got 1 Versant share for every 25 Comcast shares.

    Partly delivered

  2. Said on Jan 31, 2025

    Open Epic Universe in May 2025.

    What happened

    Epic Universe opened in Orlando in May 2025.

    Delivered

  3. Said on Jan 31, 2025

    Open Universal Kids Resort in Frisco, Texas in 2026.

    What happened

    The FY2025 10-K still lists it as expected to open in 2026. No opening is reported in Comcast's filings through Oct 22, 2026.

    Too early to tell

  4. Said on Sep 29, 2025

    Make Michael Cavanagh Co-CEO from January 2026.

    What happened

    His appointment took effect on Jan 2, 2026.

    Delivered

  5. Said on Jun 29, 2026

    Spin off NBCUniversal and Sky in about one year.

    What happened

    The Q3 FY2026 10-Q says it is expected in mid-2027, subject to board approval, tax opinions, regulatory approvals and financing.

    Too early to tell
Sources (8)
Next: What could go wrong

08What could go wrong

What could go wrong for Comcast?

  • Competition

    Losing home broadband customers

    The 10-K says AT&T, Lumen and Verizon are building fiber in Comcast's areas, and AT&T, T-Mobile and Verizon sell wireless home internet. Comcast lost domestic broadband customers in each of the nine quarters to Q3 FY2026.

    Watch Broadband net losses (144,000 in Q3 FY2026) and domestic broadband revenue (down 4.7% in Q3 FY2026).

  • Demand

    Fewer people paying for TV

    Domestic video customers fell to 10.4 million on Sep 30, 2026 from 11.5 million a year earlier. The 10-K says changing viewing habits hurt its businesses and that programming costs per TV subscriber are rising.

    Watch Video customer losses (274,000 in Q3 FY2026) and video revenue (down 8.7% in Q3 FY2026).

  • Execution

    Splitting the company again

    Comcast plans to spin off NBCUniversal and Sky in mid-2027, subject to board approval, tax opinions, regulatory approvals and financing. It says there can be no assurance it will happen. The 10-K warns that if the Versant spin-off were found taxable, Comcast or its shareholders could owe significant tax.

    Watch Filings on the spin-off's terms, financing and approvals; the buyback stays suspended until then.

  • Debt

    Large debt

    Total debt was $87.4 billion on Sep 30, 2026, and interest expense was $962 million in Q3 FY2026. Comcast also agreed in July 2026 to buy ITV Media & Entertainment for up to £1.6 billion, expected to close in the second half of 2027.

    Watch Total debt, interest expense, and how the debt is split between Comcast and NBCUniversal at the spin-off.

  • Governance

    One shareholder controls a third of the votes

    Brian L. Roberts controls 33 1/3% of the votes through Class B shares that are 0.27% of all shares, and Class B has separate approval rights over several possible major transactions. The 10-K says he has considerable influence over the company.

    Watch Changes to the share classes, and the structure set for NBCUniversal at the spin-off.

  • Pricing

    Advertising and sports costs in Media

    The 10-K says lower advertiser spending or ratings could hurt results. Programming and production cost $34,951 million in FY2025, and NBA rights began in Q4 FY2025. In Q1 FY2026, which included the Olympics and the Super Bowl, Media's Adjusted EBITDA was a $426 million loss.

    Watch Media segment revenue and Adjusted EBITDA each quarter, and US advertising revenue.

  • Demand

    Theme-park attendance

    Theme Parks revenue fell 4.4% and its Adjusted EBITDA 17.1% in Q3 FY2026, on lower admissions revenue and more promotions, Comcast says. The 10-K says weak economic conditions can hurt its businesses.

    Watch Theme Parks revenue and Adjusted EBITDA each quarter.

Sources (8)
Next: Supporters vs. critics

09Both sides

What do supporters and critics point to?

Facts each side points to. We don't say which side is right.

What supporters point to

  • Connectivity & Platforms earned 81.4% of the five segments' Adjusted EBITDA in FY2025, and Business Services kept $55.9 per $100 of revenue on that measure.
  • Domestic wireless lines rose to 10,555 thousand on Sep 30, 2026 from 8,941 thousand a year earlier.
  • Free cash flow was $21.9 billion in FY2025, while dividends took $4,894 million and buybacks $7,155 million.
  • Peacock had 48 million paid subscribers on Sep 30, 2026, against 41 million a year earlier.
  • Total debt fell to $87.4 billion on Sep 30, 2026 from $98.9 billion on Dec 31, 2025.

What critics point to

  • Domestic broadband customers fell in each of the nine quarters to Q3 FY2026, to 28,343 thousand.
  • Domestic video customers fell to 10,394 thousand on Sep 30, 2026 from 11,515 thousand a year earlier.
  • FY2025 net income of $19,998 million includes a one-off $9.4 billion pre-tax Hulu gain; operating income fell to $20,672 million from $23,297 million in FY2024.
  • Q3 FY2026 revenue was 6.1% lower than a year earlier as reported, after Versant and Sky Germany left.
  • Brian L. Roberts controls 33 1/3% of the votes with Class B shares that are 0.27% of all shares.
Next: What to watch next

10What to watch next

What should you watch next at Comcast?

Next event

Q4 FY2026 results

Date not announced yet.

  • Broadband against mobile

    Broadband customers fell by 144,000 in Q3 FY2026 while mobile lines grew by 368,000. Both counts come in each quarterly release.

  • The NBCUniversal and Sky spin-off

    Comcast expects it in mid-2027, subject to approvals and financing. Watch for the filings that set its terms and how debt is split; buybacks are suspended until then.

  • Results without Versant

    2026 quarters exclude Versant while 2025 quarters include it, so reported growth and Comcast's own pro forma growth differ: Q3 FY2026 revenue was down 6.1% reported.

Next: Key dates

11Key dates

What are the key dates for Comcast?

Dates as stated in the filings. A date that no filing has given yet shows as not yet stated.
Key dates for Comcast
EventDateSource
NBCUniversal and Sky spin-offExpected in mid-2027, subject to conditions (Q3 FY2026 10-Q).Not yet statedForm 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026)
ITV Media & Entertainment purchase closesExpected in the second half of 2027, subject to conditions and approvals.Not yet statedForm 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026)
Universal theme park and resort in the UK opensProjected opening in 2031, subject to approvals (FY2025 10-K).Not yet statedForm 10-K, fiscal year 2025 (ended Dec 31, 2025)
Sources (2)
Next: Key facts

12Key facts

Key facts about Comcast

What does Comcast do?
Comcast Corporation sells broadband, wireless, TV and voice service under the Xfinity, Comcast Business and Sky brands. Comcast also owns NBCUniversal, which runs NBC, Telemundo, Peacock, Universal film studios and Universal theme parks. Comcast had FY2025 revenue of $123,707 million.
How does Comcast make money, and what is its business model?
Comcast's business model is charging households and businesses monthly for internet, mobile and TV over its own US network, plus selling advertising, TV channels, films and theme-park tickets. In FY2025, Comcast's Residential Connectivity & Platforms segment brought in $70,704 million and its Media segment $27,090 million, out of total revenue of $123,707 million.
Is Comcast profitable?
Yes. Comcast had operating income of $20,672 million and net income attributable to Comcast of $19,998 million in FY2025, on revenue of $123,707 million. FY2025 net income includes a $9.4 billion pre-tax gain on selling Comcast's Hulu stake. Comcast had net income of $3,448 million in Q3 FY2026.
What is Comcast's revenue by segment?
In FY2025, Comcast's segments brought in: Residential Connectivity & Platforms $70,704 million, Media $27,090 million, Studios $11,286 million, Business Services Connectivity $10,237 million and Theme Parks $9,836 million. Comcast removes $8,535 million of sales between its own segments to reach total revenue of $123,707 million.
Who are Comcast's customers?
Comcast's customers are mainly households: Comcast had 30.0 million domestic residential customer relationships on Sep 30, 2026. Comcast also sells to businesses, advertisers, TV distributors, Peacock subscribers, cinema-goers and theme-park visitors. The FY2025 10-K names no single customer as a large share of Comcast's revenue.
Who owns Comcast?
Brian L. Roberts, Comcast's Chairman and Co-CEO, controls 33 1/3% of Comcast's votes through all 9,444,375 Class B shares, held by an LLC he manages. Among Class A holders, Vanguard Capital Management reported 7.52% on Mar 31, 2026 and State Street 5.1% on Dec 31, 2025.
How many broadband customers does Comcast have?
Comcast had 28,343 thousand domestic residential broadband customers on Sep 30, 2026, against 28,897 thousand a year earlier. Comcast's domestic broadband revenue was $6,241 million in Q3 FY2026, 4.7% lower than a year earlier.
How big is Comcast's mobile business?
Comcast had 10,555 thousand domestic wireless lines on Sep 30, 2026, against 8,941 thousand a year earlier. Comcast's mobile service runs on Verizon's network, and domestic wireless service revenue was $1,050 million in Q3 FY2026, up 14.7%.
How many subscribers does Peacock have?
Comcast's Peacock streaming service had 48 million paid subscribers on Sep 30, 2026, against 41 million a year earlier. Comcast reported Peacock revenue of $5,448 million in FY2025, within its Media segment.
What theme parks does Comcast own?
Comcast's Theme Parks segment runs Universal Orlando Resort, including Epic Universe, which opened in May 2025, plus Universal Studios Hollywood, Universal Studios Japan and Universal Beijing Resort. Comcast's Theme Parks revenue was $9,836 million in FY2025, against $8,617 million in FY2024.
Sources (7)
Next: Go deeper

Terms on this page

Each explains the term in plain English, with the same number from other companies on Cityfort.

Go deeper

More detail from the same filings. Open any section.

13What it sells

13What it sells

What does Comcast sell?

Comcast has two halves. Connectivity & Platforms sells internet, mobile and TV service to homes and businesses in the US, UK and Italy. Content & Experiences (Media, Studios and Theme Parks) makes and sells TV, films, streaming and theme-park visits.

  • Home internet (Xfinity, Sky)

    Broadband over Comcast's own US cable and fiber network, and over other companies' networks in the UK and Italy. Domestic broadband brought in $25,837 million in FY2025.

  • Mobile (Xfinity Mobile, Sky Mobile)

    Phone plans sold to broadband customers. Comcast rents capacity on Verizon's US network instead of owning towers. Domestic wireless brought in $4,967 million in FY2025.

  • Pay TV

    Cable and satellite TV packages in the US, UK and Italy, often bundled with streaming apps. Video brought in $26,387 million in FY2025, the largest single line, but customers are falling.

  • Comcast Business

    Internet, phone, wireless and network services for small firms and large companies. The segment brought in $10,237 million in FY2025.

  • TV networks and Peacock (Media)

    NBC, Telemundo, cable channels, Sky Sports and the Peacock streaming service, paid for by advertisers, TV distributors and subscribers. Media brought in $27,090 million in FY2025, including cable channels that left with Versant on Jan 2, 2026.

  • Films and TV shows (Studios)

    Universal and Sky studios make films for cinemas and license films and shows to other companies and to Comcast's own channels. Studios brought in $11,286 million in FY2025.

  • Universal theme parks

    Parks in Orlando, Hollywood, Osaka and Beijing, earning from tickets, hotels, food and merchandise. Theme Parks brought in $9,836 million in FY2025.

Think of it like this

Think of two companies under one roof: a utility-like internet and phone provider billing homes every month, and a Hollywood studio with TV channels and theme parks.

What it does

  • Does: Owns and runs its own US cable and fiber network
  • Does: Owns NBC, Telemundo, Peacock and Universal Pictures
  • Does: Owns Universal theme parks in Orlando, Hollywood, Japan and Beijing

What it does not do

  • Does not: Does not own a mobile network: its US mobile service runs on Verizon's network
  • Does not: Does not own Hulu any more: it sold its stake in June 2025
  • Does not: Does not own the cable channels that went to Versant (MS NOW, CNBC, USA Network and others) since Jan 2, 2026
Sources (2)
14How the money flows

14How the money flows · FY2025

How does money flow through Comcast?

Money in

  • Revenue$123.7B
  • Investment and other income, net (mostly the Hulu gain)$9.5B

The company

Comcast

$133.2B came in

Money out

  • Other operating and admin costs$43.0B
  • Programming and production$35.0B
  • Depreciation and amortization$16.2B
  • Marketing and promotion$8.9B
  • Interest$4.4B
  • Income tax, less outside partners' losses$5.8B
  • Net income attributable to Comcast$20.0B
  1. In FY2025 customers paid Comcast $123.7 billion. Investment and other income added $9.5 billion, mostly a $9.4 billion pre-tax gain on selling its Hulu stake.
  2. Other operating and admin costs took $43.0 billion. Programming and production, such as sports rights, shows and films, took $35.0 billion.
  3. Wear and tear on networks, parks and other assets (depreciation and amortization) took $16.2 billion. Marketing took $8.9 billion.
  4. Interest on debt took $4.4 billion. Income tax took $6.1 billion.
  5. Outside partners in some ventures recorded a $338 million loss, which is added back. That left $20.0 billion of net income for Comcast.
Sources (1)
15What it needs to run

15What it needs to run

What does Comcast need to run?

  • A US cable and fiber network

    Comcast's network passed 58,935 thousand US homes at Dec 31, 2025. Capital spending was $11,750 million in FY2025.

  • Other companies' networks

    US mobile runs on Verizon's network, and business mobile also on T-Mobile's from 2026. UK and Italy broadband uses third-party networks, often on regulated terms.

  • Programming and sports rights

    Rights to the NBA (to the 2035-36 season), NFL, Olympics and English Premier League, plus shows licensed from others. Programming and production cost $34,951 million in FY2025.

  • A few equipment suppliers

    The 10-K says Comcast buys gateways, set-top boxes, network gear and wireless devices from a limited number of suppliers.

  • People

    About 179,000 full-time equivalent employees at Dec 31, 2025, about 30% outside the US.

Sources (2)
16Where it sells

16Where it sells · FY2025

Where does Comcast sell?

  • United States77%
  • United Kingdom12%
  • Other countries11%
Sources (1)
17Competitors and what protects it

17Competitors and what protects it

Who does Comcast compete with?

Comcast's FY2025 10-K names phone companies building fiber, wireless carriers selling home internet, and streaming services as rivals. It gives no market-share figures, and the rivals' business mixes differ.

  • Verizon

    NYSE: VZ

    Named in Comcast's 10-K as a fiber builder and a fixed-wireless home internet rival. Comcast's own US mobile service also runs on Verizon's network. Verizon's FY2025 10-K reports revenue of $138,191 million.

  • AT&T

    NYSE: T

    Named in Comcast's 10-K as a company building fiber into Comcast's service areas, and as a wireless internet rival.

  • T-Mobile US

    NASDAQ: TMUS

    Named in Comcast's 10-K as a wireless company selling 5G home internet. Comcast's business mobile service also uses T-Mobile's network from 2026.

  • Netflix

    NASDAQ: NFLX

    Named in Comcast's 10-K as a subscription streaming service competing with its TV packages.

  • Disney

    NYSE: DIS

    Disney+ is named in Comcast's 10-K as a streaming rival to its TV packages. Disney's FY2025 10-K (year to Sep 27, 2025) reports revenue of $94,425 million.

What protects the business

Each strength is scored 1 (weak) to 5 (strong) for the business, with the reason. It is not a rating of the share.

  • Network reach4 of 5

    Comcast's US network passed 58,935 thousand homes at Dec 31, 2025, and Comcast says it offers gigabit-plus speeds across nearly its entire US footprint.

  • Bundling mobile with internet3 of 5

    US mobile is sold only to broadband customers. Wireless lines reached nearly 18% of domestic residential broadband customers in Q3 FY2026, Comcast says.

  • Sports rights and film library3 of 5

    Comcast holds NBA rights to the 2035-36 season, plus NFL, Olympics and Premier League rights. Universal and Sky studios own films and shows they license worldwide.

  • Theme parks4 of 5

    Universal parks earned $3,080 million of Adjusted EBITDA in FY2025. Epic Universe opened in Orlando in May 2025, and a UK resort has a projected 2031 opening.

Weak spot

Home broadband customers

Domestic broadband customers fell from 29,504 thousand on Sep 30, 2024 to 28,343 thousand on Sep 30, 2026. The 10-K says AT&T, Lumen and Verizon are building fiber in its areas.

Sources (5)
18Where growth could come from

18Where growth could come from

Where could Comcast's growth come from?

Comcast gave no numeric financial outlook in its 2026 earnings releases. On Jun 29, 2026 it announced a plan to spin off NBCUniversal and Sky. Its Q3 FY2026 10-Q (Oct 22, 2026) says it expects that in mid-2027, and that there can be no assurance it will happen.
Management statement, Oct 22, 2026. Reported as a statement, not our forecast.

  • Mobile lines

    Working

    10.6 million domestic wireless lines on Sep 30, 2026, against 8.9 million a year earlier

    Comcast added 368,000 lines in Q3 FY2026. Domestic wireless service revenue was $1,050 million, up 14.7%.

    Status: Working, on track against what the company said.

  • Home broadband

    Mixed

    28.3 million domestic broadband customers on Sep 30, 2026, against 28.9 million a year earlier

    Comcast lost 144,000 customers in Q3 FY2026 and domestic broadband revenue fell 4.7%. Comcast says nearly 45% of broadband customers take gig-plus speeds.

    Status: Mixed, partly on track.

  • Business Services

    Working

    Revenue of $10,237 million in FY2025, against $9,701 million in FY2024

    Q3 FY2026 revenue was $2,645 million, against $2,576 million a year earlier, on Comcast's 2026 segment basis.

    Status: Working, on track against what the company said.

  • Peacock

    Working

    48 million paid subscribers on Sep 30, 2026, against 41 million a year earlier

    Comcast said Q2 FY2026 was Peacock's first profitable quarter on its own measure. Q1 to Q3 FY2026 included the Milan Cortina Olympics, the Super Bowl and the FIFA World Cup.

    Status: Working, on track against what the company said.

  • Theme parks

    Mixed

    Revenue of $9,836 million in FY2025, against $8,617 million in FY2024

    Epic Universe opened in May 2025. Theme Parks revenue fell 4.4% in Q3 FY2026, which Comcast linked to lower admissions revenue, including more promotions.

    Status: Mixed, partly on track.

Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.

Sources (7)
19The company's own measures (non-GAAP)

19The company's own measures · FY2025

What do Comcast's own measures show?

These are Comcast's own measures and counts, shown next to the official (GAAP) figure where one exists. They are never added together.

  • Official (GAAP): Net income attributable to Comcast, FY2025

    $20.0B

    Company's own measure: Adjusted EBITDA (Comcast's measure), FY2025

    $37.4B

    Comcast starts from net income, adds back tax, interest, depreciation and amortization, removes investment and other income (including the Hulu gain), and adjusts for items it lists, such as Versant separation costs.

  • Official (GAAP): Net cash from operating activities, FY2025

    $33.6B

    Company's own measure: Free cash flow (Comcast's definition), FY2025

    $19.2B

    Comcast subtracts capital expenditures ($11,750 million) and cash paid for intangible assets such as software ($2,658 million). This page's free cash flowCash from operations minus spending on buildings and equipment. Learn more ($21,893 million) subtracts only capital expenditures.

  • Official (GAAP): Net cash from operating activities, Q3 FY2026

    $7.9B

    Company's own measure: Free cash flow (Comcast's definition), Q3 FY2026

    $4.2B

    Operating cash flow less capital expenditures ($3,058 million) and cash paid for intangible assets ($633 million).

  • Official (GAAP): Diluted EPS, Q3 FY2026

    $0.97

    Company's own measure: Adjusted EPS (Comcast's measure), Q3 FY2026

    $1.07

    Comcast leaves out items it treats as not part of normal operations, such as investment gains and losses and separation costs, and their tax effects.

  • Official (GAAP): Reported revenue growth, Q3 FY2026

    −6.1%

    Company's own measure: Revenue growth excluding Versant and Sky Germany, Q3 FY2026

    0.5%

    Comcast's pro forma figure removes Versant and Sky Germany from both periods: $29,298 million against $29,151 million. Its March 2026 restated schedule removes Versant only, so the two bases differ.

  • Official (GAAP): Media segment Adjusted EBITDA, Q3 FY2026 (segment measure)

    $769M

    Company's own measure: Peacock Adjusted EBITDA, Q3 FY2026

    $261M

    Peacock is part of the Media segment; Comcast presents its profit from time to time. It was a $217 million loss in Q3 FY2025.

  • Official (GAAP)

    No official figure measures this; it is the company's own operating measure.

    Company's own measure: Peacock paid subscribers, Sep 30, 2026

    48 million subscribers

    Comcast's count of paying Peacock accounts at the end of the quarter; 41 million a year earlier.

  • Official (GAAP)

    No official figure measures this; it is the company's own operating measure.

    Company's own measure: Domestic residential broadband customers, Sep 30, 2026

    28,343 thousand customers

    Comcast's count of US homes buying its internet service; 28,897 thousand a year earlier.

  • Official (GAAP)

    No official figure measures this; it is the company's own operating measure.

    Company's own measure: Domestic wireless lines, Sep 30, 2026

    10,555 thousand lines

    Comcast's count of US mobile lines; 8,941 thousand a year earlier.

These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.

Learn: Non-GAAP measures: what a company's "adjusted" numbers leave out

Sources (4)
20Financial strength and debt

20Financial strength · Sep 30, 2026

How much debt does Comcast have?

On Sep 30, 2026 Comcast's debt exceeded its cash by $79.8 billion, about 2.5 times its $31.7 billion of cash from operations in the four quarters to that date.
  • Total debt$87.4B
  • Cash and investments$7.6B
  • Net debt (debt minus cash)$79.8B
  • Net worth (shareholders' money)$92.5B
Debt to equity
0.94×
$ of debt for every $1 of shareholders' money
Interest cover
4.3×
how many times operating profit covers interest
  • Debt is the current plus noncurrent portion of debt; operating leases are outside it. Comcast states total debt of $87.4 billion on Sep 30, 2026, against $98.9 billion on Dec 31, 2025.
  • Net debt, the 2.5 times and the interest cover of 4.3 times (operating income $18,103 million ÷ interest $4,234 million over the same four quarters) are a Cityfort calculation from the FY2025 10-K, the Q3 FY2025 10-Q, the Q4 FY2025 earnings release and the Q3 FY2026 10-Q.
  • In 2026 Comcast redeemed its 3.15% 2026 and 5.350% 2027 notes in January and made cash tender offers for 2027 to 2030 notes in May. Versant paid Comcast $2.25 billion at the spin-off.
  • Unused bank credit, net of commercial paper and letters of credit, was $11.8 billion on Sep 30, 2026. Equity shown is Comcast shareholders' equity.
Sources (6)
21Who owns it

21Who owns it · ownership as of Apr 8, 2026

Who owns Comcast?

Brian L. Roberts controls 33 1/3% of the votes through Class B shares that are 0.27% of all shares. Directors and executive officers as a group (14 people) held 40,496,859 Class A shares (1.13% of Class A) and all Class B on Jan 23, 2026; the proxy states no group share of total votes. The proxy says no director or officer shares were used as collateral for loans, held in margin accounts or hedged. The Vanguard Group, listed at 10.0% in the proxy, reported on Mar 26, 2026 that after a reorganization it no longer beneficially owned the shares; Vanguard Capital Management now reports separately. Capital World Investors reported 5.1% of Class A on Mar 31, 2026 and 3.0% on Jun 30, 2026. Holdings come from filings with different dates and are never added.

Shares vs votes by class

Comcast has more than one class of shares, and the classes carry different votes. The share of votes a class holds can differ a lot from its share of the shares.

  • Class A common stock: share of all votes66.5%
  • Class B common stock: share of all votes33.5%

Each class's part of all votes = its shares outstanding × votes per share ÷ the total for all classes.

Share classes
Comcast share classes: shares outstanding (millions) and votes per share
ClassShares (millions)Votes per shareHeld by% of shares% of votesTraded
Class A common stock (Shares outstanding on Oct 15, 2026 (Q3 FY2026 10-Q cover). Class A holders together have 66 2/3% of the votes; votes per share (0.07949 at the Apr 8, 2026 record date) change as the share count changes. Share of all shares is a Cityfort calculation from the Q3 FY2026 10-Q cover.)3,541.60Public and institutional investors; trades on Nasdaq as CMCSA99.7%66.7%Yes
Class B common stock (Class B carries 33 1/3% of the combined votes, a share that cannot be diluted by issuing more Class A. Each Class B share converts into one Class A share.)9.415All 9,444,375 shares are owned by an LLC of which Brian L. Roberts is managing member0.3%33.3%No
Holders of 5% or more
Comcast holders of 5% or more, from the proxy statement or later Schedule 13G filings; each row shows its own date
HolderSharesVotesAs ofSourceNote
Brian L. Roberts100.0%33.3%Apr 8, 2026S23, S1100% of Class B, through an LLC he manages, at the Apr 8, 2026 record date. Class B carries 33 1/3% of the votes.
Vanguard Capital Management7.5%–Mar 31, 2026S34% of Class A (269,853,517 shares) as of Mar 31, 2026, from its Schedule 13G filed Apr 29, 2026, after the proxy.
BlackRock7.4%–Dec 31, 2023S23% of Class A (298,215,422 shares) as of Dec 31, 2023, from its Schedule 13G/A, as listed in the 2026 proxy.
State Street5.1%–Dec 31, 2025S32% of Class A (186,826,370 shares) as of Dec 31, 2025, from its Schedule 13G filed Feb 9, 2026.

From the company's proxy statement (DEF 14A), later Schedule 13G filings and the share counts on its latest annual or quarterly report. Each holder row shows the date of its own filing.

Learn: Dual-class shares: when votes and ownership don't match · How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Form 4 insider filings: who files, the codes and the footnotes

Sources (5)
22What it does with profit

22What it does with profit

What does Comcast do with its profit?

Dividends are declared per share; payout = dividend per share ÷ diluted EPS, a Cityfort calculation from the FY2025 10-K and FY2023 10-K. FY2022's payout is high because Sky impairments cut profit, and FY2025's is low because of the Hulu gain. The 2026 dividend is $0.33 a quarter. $6.7 billion of the $15.0 billion buyback authorization was left on Sep 30, 2026.

Dividend per share

$1.32FY2025

Dividend paid for each share, by financial year.

$ per share

See the numbers
Dividend per share ($ per share)
YearDividend per shareShare of profit paid out
FY2021$1.0032.9%
FY2022$1.0889.3%
FY2023$1.1631.3%
FY2024$1.2430.0%
FY2025$1.3224.5%

  • Buyback · Dec 31, 2021

    Class A shares repurchased during FY2021, including employee plans (cash paid).

    $4.7B

  • Buyback · Dec 31, 2022

    Class A shares repurchased during FY2022, including employee plans (cash paid).

    $13.3B

  • Buyback · Dec 31, 2023

    Class A shares repurchased during FY2023, including employee plans (cash paid).

    $11.3B

  • Buyback · Dec 31, 2024

    Class A shares repurchased during FY2024, including employee plans (cash paid).

    $9.1B

  • Buyback · Dec 31, 2025

    Class A shares repurchased during FY2025, including employee plans (cash paid).

    $7.2B

  • Buyback · Sep 30, 2026

    76 million Class A shares repurchased under the program in the nine months to Sep 30, 2026, none in Q3; the program is suspended until the planned NBCUniversal spin-off.

    $2.2B

Sources (3)
23Governance signals

23Governance signals

What do Comcast's governance filings show?

Auditor
Deloitte & Touche LLP, since 1963
Auditor changes
None in the period covered
Audit qualifications
None reported
Related-party dealings
The 2026 proxy lists relatives of three of its directors or executives who worked at Comcast in 2025: Brian Roberts' son (about $840,000 of pay), Michael Cavanagh's daughter (about $185,000) and a daughter of Mr. Smith (about $272,000). Comcast says they got benefits on the same basis as similar employees.
Credit rating
Moody's / S&P / Fitch (expected ratings Comcast listed for a May 2025 note issue) A3 / A- / A- (Not stated; these are expected ratings for that note issue, not a later issuer rating), May 5, 2025

A credit rating describes the company's ability to repay debt. It is not a rating of the share.

Flags to know about

  • other · Feb 3, 2026

    Dual-class voting control

    Brian L. Roberts controls 33 1/3% of the votes through Class B shares, which also have separate approval rights over several possible major transactions, the 10-K says. Comcast says NBCUniversal will have the same dual-classShares with different voting power, so some holders control more votes than their share of ownership. Learn more structure after the spin-off.

  • disclosure · Oct 22, 2026

    Versant and Sky Germany are not shown as discontinued

    FY2025 and earlier figures include Versant; 2026 figures do not. Comcast's own figures without them use two bases: the Mar 16, 2026 schedule removes Versant only, while the Q2 and Q3 FY2026 releases also remove Sky Germany.

  • disclosure

    Credit ratings not stated in the annual or quarterly report

    Comcast's FY2025 10-K and Q3 FY2026 10-Q do not state its credit ratings. The ratings shown are those Comcast listed as expected for one note issue in May 2025.

Sources (7)
24What the market paid

24What the market paid · price as of Nov 5, 2026

What did the market pay for Comcast on Nov 5, 2026?

Price as of Nov 5, 2026 (shown for education; prices change daily).

Price as of Nov 5, 2026: the Class A closing price on Nasdaq was $24.95. Market value = $24.95 × 3,551.0 million Class A and Class B shares outstanding on Oct 15, 2026 = $88,598 million (Cityfort calculation from the Nov 5, 2026 Nasdaq closing price and the Q3 FY2026 10-Q cover); Class B is not listed and is counted at the Class A price by convention, since each Class B share converts into one Class A share. P/E is the price divided by a year of profit per share: $24.95 ÷ $3.16 of diluted EPS in the four quarters to Sep 30, 2026 = 7.9 (Cityfort calculation from the Q4 FY2025 earnings release and the Q1 to Q3 FY2026 10-Qs). Q4 FY2025 still includes Versant.

Share price
$24.95
Market value (market cap)
$88.6B
P/E
7.9×

More price-based ratios · as of Nov 5, 2026

Each ratio divides a number from the company's filings by the market value or share price on Nov 5, 2026. Prices change daily, so these ratios do too.

Shares used for the market value: 3,551 million ($24.95 × 3,551 million shares ≈ $88.6B). Source: Form 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026); Proxy statement (DEF 14A), 2026 annual meeting; Form 10-K, fiscal year 2025 (ended Dec 31, 2025)

Source: CMCSA historical quotes, Nasdaq (close Nov 5, 2026); Form 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026); Earnings release, Q4 FY2025 (8-K Ex. 99.1) and 2 more

Sources (7)
25How it got here

25How it got here

How did Comcast get here?

  1. 2022

    Crisis

    $8.6 billion Sky impairment

    Comcast wrote down Sky goodwill and assets after a higher discount rate and lower cash-flow estimates. FY2022 net income fell to $5,370 million.

  2. 2023

    Business-model change

    Received $8.6 billion in advance for its Hulu stake

    Comcast received $8.6 billion in cash in 2023 as an advance on selling its Hulu interest, booked as a liability until the sale.

  3. 2025

    Business-model change

    Sold its Hulu stake

    The June 2025 sale produced a $9.4 billion pre-tax gain, which lifted FY2025 net income to $19,998 million.

  4. 2025

    Milestone

    Epic Universe opened

    Comcast's third theme park in Orlando opened in May 2025. Theme Parks revenue rose to $9,836 million in FY2025.

  5. 2025

    Milestone

    NBA rights began

    NBA games started on Comcast's networks and Peacock in Q4 FY2025, under rights that run to the 2035-36 season.

  6. 2026

    Business-model change

    Versant spun off

    On Jan 2, 2026 Comcast spun off Versant, with cable channels such as MS NOW, CNBC, USA Network and E!. Shareholders got 1 Versant share per 25 Comcast shares.

  7. 2026

    Business-model change

    Sky Germany sold

    Comcast sold Sky Germany on May 31, 2026, receiving $59 million of net pre-tax cash.

  8. 2026

    Business-model change

    Plan to spin off NBCUniversal and Sky

    Announced on Jun 29, 2026. Comcast would keep its US internet, mobile and TV businesses, while Sky's go with NBCUniversal. Comcast would keep up to 19.9% of NBCUniversal for up to a year.

  9. 2026

    Milestone

    Agreed to buy ITV Media & Entertainment

    In July 2026 Comcast agreed to buy ITV Media & Entertainment from ITV plc for up to £1.6 billion, expected to close in the second half of 2027.

Sources (7)

26Sources and changes

Where every number on this page comes from

Sources (34 documents)
  1. S1Form 10-K, fiscal year 2025 (ended Dec 31, 2025) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Feb 3, 2026
  2. S2Form 10-K, fiscal year 2024 (ended Dec 31, 2024) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Jan 31, 2025
  3. S3Form 10-K, fiscal year 2023 (ended Dec 31, 2023) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Jan 31, 2024
  4. S4Form 10-K, fiscal year 2022 (ended Dec 31, 2022) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Feb 3, 2023
  5. S6Form 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Oct 22, 2026
  6. S7Form 10-Q, Q2 FY2026 (quarter ended Jun 30, 2026) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Jul 23, 2026
  7. S8Form 10-Q, Q1 FY2026 (quarter ended Mar 31, 2026) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Apr 23, 2026
  8. S9Form 10-Q, Q3 FY2025 (quarter ended Sep 30, 2025) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Oct 30, 2025
  9. S10Form 10-Q, Q2 FY2025 (quarter ended Jun 30, 2025) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Jul 31, 2025
  10. S11Form 10-Q, Q1 FY2025 (quarter ended Mar 31, 2025) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Apr 24, 2025
  11. S12Form 10-Q, Q3 FY2024 (quarter ended Sep 30, 2024) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Oct 31, 2024
  12. S13Earnings release, Q3 FY2026 (8-K Ex. 99.1) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Oct 22, 2026
  13. S14Earnings release, Q2 FY2026 (8-K Ex. 99.1) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Jul 23, 2026
  14. S15Earnings release, Q1 FY2026 (8-K Ex. 99.1) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Apr 23, 2026
  15. S16Earnings release, Q4 FY2025 (8-K Ex. 99.1) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Jan 29, 2026
  16. S20Earnings release, Q4 FY2024 (8-K Ex. 99.1) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Jan 30, 2025
  17. S21Earnings release, Q3 FY2024 (8-K Ex. 99.1) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Oct 31, 2024
  18. S228-K (Item 7.01): Trending Schedule as revised Mar 16, 2026 (Ex. 99.1; pro forma FY2024-FY2025 on the 2026 segment basis) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Mar 16, 2026
  19. S23Proxy statement (DEF 14A), 2026 annual meeting · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Apr 24, 2026
  20. S248-K (Item 8.01): completion of the Versant Media Group separation (Ex. 99.1) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Jan 5, 2026
  21. S258-K (Item 8.01): plan to separate NBCUniversal and Sky through a spin-off (Ex. 99.1) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Jun 29, 2026
  22. S268-K (Item 5.02): Michael J. Cavanagh named Co-CEO effective January 2026 (Ex. 99.1) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Sep 29, 2025
  23. S278-K (Item 5.02): Cavanagh employment agreement · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Dec 23, 2025
  24. S288-K (Item 7.01): redemption of 3.15% 2026 and 5.350% 2027 notes · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · Dec 16, 2025
  25. S298-K (Item 8.01): cash tender offers for senior notes (Ex. 99.1) · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · May 27, 2026
  26. S31Free writing prospectus (FWP): notes pricing term sheet with expected ratings · Comcast Corporation (SEC EDGAR) · Tier 1: company or exchange filing · May 5, 2025
  27. S32Schedule 13G: State Street Corporation (as of Dec 31, 2025) · SEC EDGAR (filed by the holder) · Tier 1: company or exchange filing · Feb 9, 2026
  28. S33Schedule 13G/A: The Vanguard Group (event Mar 13, 2026) · SEC EDGAR (filed by the holder) · Tier 1: company or exchange filing · Mar 26, 2026
  29. S34Schedule 13G: Vanguard Capital Management (as of Mar 31, 2026) · SEC EDGAR (filed by the holder) · Tier 1: company or exchange filing · Apr 29, 2026
  30. S35Schedule 13G: Capital World Investors (as of Mar 31, 2026) · SEC EDGAR (filed by the holder) · Tier 1: company or exchange filing · May 14, 2026
  31. S36Schedule 13G/A: Capital World Investors (as of Jun 30, 2026) · SEC EDGAR (filed by the holder) · Tier 1: company or exchange filing · Aug 12, 2026
  32. S37CMCSA historical quotes, Nasdaq (close Nov 5, 2026) · Nasdaq, Inc. · Tier 1: company or exchange filing · Nov 5, 2026
  33. S39Verizon Form 10-K, fiscal year 2025 (ended Dec 31, 2025) · Verizon Communications Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 17, 2026
  34. S40The Walt Disney Company Form 10-K, fiscal year 2025 (ended Sep 27, 2025) · The Walt Disney Company (SEC EDGAR) · Tier 1: company or exchange filing · Nov 13, 2025
Changes to this page (v1 · Nov 6, 2026)
  1. v1 · Nov 6, 2026First version. (first version)

Numbers come only from tier 1 and tier 2 sources. Read how we research.

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Cityfort publishes general educational content that explains how listed companies work. Cityfort is not registered with the US Securities and Exchange Commission or any state securities regulator as an investment adviser, and is not a broker-dealer or a member of FINRA. Cityfort does not provide investment, tax or legal advice, recommendations, ratings, price targets or any opinion on whether to buy, sell or hold any security. Nothing on the site is tailored to any person's circumstances.

All information is taken from publicly available sources, mainly company filings with the SEC, which are listed on each page with dates. We work to keep it accurate and correct errors publicly, but we do not guarantee that it is complete, accurate or up to date. Any market price or price-based ratio shown is dated, may be out of date by the time you read it, and is included only to explain concepts.

Statements by company management, including forward-looking statements and guidance, are reported as the company's statements, with their date and source; they are not our forecasts. Adjusted (non-GAAP) figures are the company's own measures and are shown next to the official (GAAP) figures.