Price to Book Value (P/BV)
since 2005
Calculation
Comcast Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Comcast Corporation shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 3, 2026 | 1.10 | = | 29.76 | ÷ | 26.93 | 26.93 | = | 96,903 | ÷ | 3,597,845,994 | |
| Jan 31, 2025 | 1.49 | = | 33.66 | ÷ | 22.63 | 22.63 | = | 85,560 | ÷ | 3,781,022,601 | |
| Jan 31, 2024 | 2.24 | = | 46.54 | ÷ | 20.82 | 20.82 | = | 82,703 | ÷ | 3,971,857,339 | |
| Feb 3, 2023 | 2.08 | = | 39.97 | ÷ | 19.20 | 19.20 | = | 80,943 | ÷ | 4,216,056,328 | |
| Feb 2, 2022 | 2.36 | = | 49.99 | ÷ | 21.20 | 21.20 | = | 96,092 | ÷ | 4,533,230,325 | |
| Feb 4, 2021 | 2.61 | = | 51.45 | ÷ | 19.72 | 19.72 | = | 90,323 | ÷ | 4,580,656,172 | |
| Jan 30, 2020 | 2.43 | = | 44.14 | ÷ | 18.17 | 18.17 | = | 82,726 | ÷ | 4,553,034,645 | |
| Jan 31, 2019 | 2.31 | = | 36.57 | ÷ | 15.82 | 15.82 | = | 71,613 | ÷ | 4,525,962,522 | |
| Jan 31, 2018 | 2.88 | = | 42.53 | ÷ | 14.77 | 14.77 | = | 68,606 | ÷ | 4,644,508,017 | |
| Feb 3, 2017 | 3.31 | = | 37.63 | ÷ | 11.35 | 11.35 | = | 53,943 | ÷ | 4,751,603,386 | |
| Feb 5, 2016 | 2.78 | = | 29.71 | ÷ | 10.70 | 10.70 | = | 52,269 | ÷ | 4,884,796,726 | |
| Feb 27, 2015 | 2.86 | = | 29.69 | ÷ | 10.37 | 10.37 | = | 52,711 | ÷ | 5,082,134,148 | |
| Feb 12, 2014 | 2.84 | = | 27.62 | ÷ | 9.72 | 9.72 | = | 50,694 | ÷ | 5,213,099,376 | |
| Feb 21, 2013 | 2.14 | = | 20.04 | ÷ | 9.35 | 9.35 | = | 49,356 | ÷ | 5,278,984,946 | |
| Feb 23, 2012 | 1.71 | = | 14.91 | ÷ | 8.74 | 8.74 | = | 47,274 | ÷ | 5,411,867,382 | |
| Feb 25, 2011 | 1.58 | = | 12.63 | ÷ | 7.99 | 7.99 | = | 44,354 | ÷ | 5,552,998,340 | |
| Feb 23, 2010 | 1.07 | = | 8.07 | ÷ | 7.53 | 7.53 | = | 42,721 | ÷ | 5,675,147,612 | |
| Feb 20, 2009 | 0.91 | = | 6.42 | ÷ | 7.02 | 7.02 | = | 40,450 | ÷ | 5,761,276,598 | |
| Feb 20, 2008 | 1.47 | = | 10.08 | ÷ | 6.86 | 6.86 | = | 41,340 | ÷ | 6,022,069,966 | |
| Feb 26, 2007 | 2.01 | = | 13.24 | ÷ | 6.60 | 6.60 | = | 41,167 | ÷ | 6,239,054,684 | |
| Feb 22, 2006 | 1.41 | = | 8.84 | ÷ | 6.27 | 6.27 | = | 40,219 | ÷ | 6,415,858,822 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Comcast Corp. Annual Report.
The price-to-book value (P/BV) ratio exhibited considerable fluctuation over the observed period, spanning from 2006 to 2026. Initially, the ratio increased from 1.41 to a peak of 2.01 before declining sharply to 0.91. Subsequent years demonstrated a recovery, with the ratio generally trending upward until reaching 2.86 in 2014. A period of relative stability followed, with the ratio fluctuating between approximately 2.31 and 3.31 until 2018. A more pronounced decline began in 2019, continuing through 2023, before a further decrease to 1.49 in 2024 and 1.10 in 2025. The most recent value, recorded in 2026, is 1.10.
- Initial Period (2006-2009)
- The early years were characterized by volatility. The initial increase in the P/BV ratio suggests growing investor confidence or potentially speculative activity. The subsequent dramatic decrease in 2009 likely reflects the impact of broader economic conditions and a corresponding decline in market valuation relative to book value.
- Recovery and Stability (2010-2018)
- Following the 2009 low, the P/BV ratio demonstrated a recovery phase, indicating improving market sentiment and a strengthening of the company’s valuation. The period from 2010 to 2018 showed a generally positive trend, with the ratio reaching its highest point in 2014. The relative stability observed during this period suggests a more mature valuation.
- Recent Decline (2019-2026)
- From 2019 onward, a consistent downward trend in the P/BV ratio is evident. This decline could be attributed to various factors, including changes in investor expectations, industry-specific challenges, or a reassessment of the company’s future growth prospects. The recent values, falling below 1.50, suggest that the market currently values the company at less than 1.5 times its book value, potentially indicating undervaluation or increased risk perception.
The book value per share (BVPS) consistently increased throughout the period, demonstrating a steady growth in the company’s net asset value. This upward trend in BVPS contrasts with the fluctuating P/BV ratio, highlighting the influence of market sentiment and external factors on the company’s valuation. The divergence between the increasing BVPS and the declining P/BV ratio in recent years is particularly noteworthy.
Comparison to Competitors
Comcast Corp., P/BV, long-term trends, comparison to competitors
| Comcast Corp. | Alphabet Inc. | Meta Platforms Inc. | Netflix Inc. | Trade Desk Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Feb 3, 2026 | 1.10 | 9.65 | 8.60 | 13.66 | — | 1.75 |
| Jan 31, 2025 | 1.49 | 7.25 | 9.53 | 16.80 | 12.12 | 1.96 |
| Jan 31, 2024 | 2.24 | 6.22 | 7.91 | 11.99 | 17.10 | 1.74 |
| Feb 3, 2023 | 2.08 | 5.26 | 3.89 | 7.82 | 15.38 | 1.82 |
| Feb 2, 2022 | 2.36 | 7.78 | 5.18 | 10.83 | 25.68 | 3.11 |
| Feb 4, 2021 | 2.61 | 6.27 | 5.88 | 21.56 | 42.25 | 3.23 |
| Jan 30, 2020 | 2.43 | 4.94 | 5.91 | 19.86 | 21.38 | 2.98 |
| Jan 31, 2019 | 2.31 | 4.49 | 5.65 | 27.41 | 22.08 | 3.45 |
| Jan 31, 2018 | 2.88 | 4.93 | 7.54 | 34.48 | 9.59 | 3.76 |
| Feb 3, 2017 | 3.31 | 3.99 | 6.39 | 22.89 | 7.96 | 3.61 |
| Feb 5, 2016 | 2.78 | 3.91 | 7.02 | 18.18 | — | 4.41 |
| Feb 27, 2015 | 2.86 | 3.44 | 6.05 | 14.45 | — | 3.39 |
| Feb 12, 2014 | 2.84 | 4.57 | 10.31 | 18.15 | — | 2.68 |
| Feb 21, 2013 | 2.14 | 3.46 | 6.02 | 12.37 | — | 2.17 |
| Feb 23, 2012 | 1.71 | 3.18 | — | 10.68 | — | 1.61 |
| Feb 25, 2011 | 1.58 | 4.34 | — | 42.87 | — | 1.86 |
| Feb 23, 2010 | 1.07 | 4.71 | — | 17.50 | — | 1.70 |
| Feb 20, 2009 | 0.91 | 3.99 | — | 6.03 | — | 1.07 |
| Feb 20, 2008 | 1.47 | 7.31 | — | 4.47 | — | 1.95 |
| Feb 26, 2007 | 2.01 | 8.18 | — | 3.72 | — | 2.14 |
| Feb 22, 2006 | 1.41 | 10.69 | — | 6.17 | — | 1.88 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Media & Entertainment)
Comcast Corp., P/BV, long-term trends, comparison to sector (media & entertainment)
| Comcast Corp. | Media & Entertainment | |
|---|---|---|
| Feb 3, 2026 | 1.10 | — |
| Jan 31, 2025 | 1.49 | 6.75 |
| Jan 31, 2024 | 2.24 | 5.64 |
| Feb 3, 2023 | 2.08 | 4.09 |
| Feb 2, 2022 | 2.36 | 5.73 |
| Feb 4, 2021 | 2.61 | 5.47 |
| Jan 30, 2020 | 2.43 | 4.61 |
| Jan 31, 2019 | 2.31 | 4.53 |
| Jan 31, 2018 | 2.88 | 5.26 |
| Feb 3, 2017 | 3.31 | 4.46 |
| Feb 5, 2016 | 2.78 | 4.41 |
| Feb 27, 2015 | 2.86 | 3.78 |
| Feb 12, 2014 | 2.84 | 4.24 |
| Feb 21, 2013 | 2.14 | 3.00 |
| Feb 23, 2012 | 1.71 | 2.32 |
| Feb 25, 2011 | 1.58 | 2.75 |
| Feb 23, 2010 | 1.07 | 2.45 |
| Feb 20, 2009 | 0.91 | 1.84 |
| Feb 20, 2008 | 1.47 | 3.03 |
| Feb 26, 2007 | 2.01 | 3.23 |
| Feb 22, 2006 | 1.41 | 2.74 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Communication Services)
Comcast Corp., P/BV, long-term trends, comparison to industry (communication services)
| Comcast Corp. | Communication Services | |
|---|---|---|
| Feb 3, 2026 | 1.10 | — |
| Jan 31, 2025 | 1.49 | 5.56 |
| Jan 31, 2024 | 2.24 | 4.54 |
| Feb 3, 2023 | 2.08 | 3.41 |
| Feb 2, 2022 | 2.36 | 4.32 |
| Feb 4, 2021 | 2.61 | 4.24 |
| Jan 30, 2020 | 2.43 | 3.71 |
| Jan 31, 2019 | 2.31 | 3.49 |
| Jan 31, 2018 | 2.88 | 4.14 |
| Feb 3, 2017 | 3.31 | 3.98 |
| Feb 5, 2016 | 2.78 | 3.88 |
| Feb 27, 2015 | 2.86 | 3.70 |
| Feb 12, 2014 | 2.84 | 3.60 |
| Feb 21, 2013 | 2.14 | 2.84 |
| Feb 23, 2012 | 1.71 | 2.18 |
| Feb 25, 2011 | 1.58 | 2.24 |
| Feb 23, 2010 | 1.07 | 1.97 |
| Feb 20, 2009 | 0.91 | 1.70 |
| Feb 20, 2008 | 1.47 | 2.33 |
| Feb 26, 2007 | 2.01 | 2.49 |
| Feb 22, 2006 | 1.41 | 2.45 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).