Comcast
CCZ on NYSE. Cable & other pay television services. Market value $130.7bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Worth a closer look
Why it could be worth it
What to watch out for
Nothing stood out in the numbers we check.
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $8.76 of spare cash in the past 12 months. A savings account pays about $4.
You pay 17.3 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 9 cents a year. Above 10 is good.
Quality score: 86 of 100. Price score: 83 of 100. Our list needs 70 on quality and 60 on price.
$62.90 a share, 7% above its 1-year low
Over the past year the price has ranged from $59.00 to $66.50.
Dividend: 2.1% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $116.4bn | $121.4bn | $121.6bn | $123.7bn | $123.7bn |
| Operating margin | |||||
| Operating margin | 17.9% | 11.6% | 19.2% | 18.8% | 16.7% |
| Debt to equity | |||||
| Debt to equity | 0.99 | 1.17 | 1.17 | 1.16 | 1.02 |
| Shares outstanding | |||||
| Shares outstanding | 4.65bn | 4.43bn | 4.15bn | 3.91bn | 3.71bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)6 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- Debt1.02× equity
- Revenue growth, five yearsSlow, 3.6% a year
- Buying back its own sharesYes, 20% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $29.9 billion last quarter, down 1% on a year ago.
- Profit: $3.5 billion, down 68% on a year ago.
- It keeps 15 cents of each $1 of sales as operating profit, down from 18 cents a year earlier.
- Spare cash over the past 12 months: $20.4 billion, up from $19.5 billion.
- 4% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $82.7 billion more than cash, down from $91.8 billion a year ago.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $32.1bn |
| December 2024 | $31.9bn |
| March 2025 | $29.9bn |
| June 2025 | $30.3bn |
| September 2025 | $31.2bn |
| December 2025 | $32.3bn |
| March 2026 | $31.5bn |
| June 2026 | $29.9bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $3.6bn |
| December 2024 | $4.8bn |
| March 2025 | $3.4bn |
| June 2025 | $11.1bn |
| September 2025 | $3.3bn |
| December 2025 | $2.2bn |
| March 2026 | $2.2bn |
| June 2026 | $3.5bn |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 3 February 2026
- Next quarterly (estimated, 10-Q)
- 22 October 2026
Who owns it
We don't have fund holdings for this stock yet.
Big holders and activists
2 investors own more than 5%.
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- STATE STREET CORPORATIONPassive investor5.1%Since 31 December 2025
- Capital World InvestorsPassive investorSold down below 5%Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
STATE STREET CORPORATION Passive investor | 5.1% | 31 December 2025 | |
Capital World Investors Passive investor | Sold down below 5% | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 3 sold $2m.
- Armstrong JasonCFOSold
- Date
- 5 March 2026
- Shares
- 4,494
- Price
- $31.74
- Value
- $142,640
- Cavanagh Michael JCo-CEO, DirectorSold
- Date
- 11 February 2026
- Shares
- 57,947
- Price
- $32.66
- Value
- $2m
- NAKAHARA ASUKADirectorSold
- Date
- 3 February 2026
- Shares
- 8,275
- Price
- $29.70
- Value
- $245,768
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 5 March 2026 | Armstrong Jason CFO | Sold | 4,494 | $31.74 | $142,640 |
| 11 February 2026 | Cavanagh Michael J Co-CEO, Director | Sold | 57,947 | $32.66 | $2m |
| 3 February 2026 | NAKAHARA ASUKA Director | Sold | 8,275 | $29.70 | $245,768 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 3 Feb 2026, plus the 10-Q filed 23 Jul 2026 and 9 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
What changed in the risks this year
Companies must list what could hurt them each year. These are the parts that changed since last year’s report.
If the Separation does not qualify as non-taxable, we and/or holders of our common stock could be subject to significant tax liability.
Could happenIf the Separation does not qualify as non-taxable, we and/or holders of our common stock could be subject to substantial U.S. and/or applicable non-U.S. taxes as a result, and we could incur significant liabilities under applicable law. If the failure to qualify is caused by any action taken by Versant, Versant is required to indemnify us for any resulting tax liabilities.
Read moreIf the Separation does not qualify as non-taxable, we and/or holders of our common stock could be subject to significant tax liability.
Could happenWe have received an opinion of Davis Polk & Wardwell LLP that the Separation qualified as non-taxable for U.S. federal income tax purposes. Notwithstanding the opinion, the IRS or a court could determine that the Separation should be treated as taxable.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.