Stock Analysis on Net
Stock Analysis on Net

Comcast Corp. (NASDAQ:CMCSA)

Price to FCFE (P/FCFE) 

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Free Cash Flow to Equity (FCFE)

Comcast Corp., FCFE calculation

US$ in millions

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12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net income attributable to Comcast Corporation 16,192 15,388 5,370 14,159 10,534
Net (income) loss attributable to noncontrolling interests (315) (281) (445) (326) 167
Net noncash charges 16,740 12,386 24,392 16,182 13,470
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures (4,944) 1,008 (2,904) (869) 566
Net cash provided by operating activities 27,673 28,501 26,413 29,146 24,737
Capital expenditures (12,181) (12,242) (10,626) (9,174) (9,179)
Cash paid for intangible assets (2,949) (3,298) (3,141) (2,883) (2,455)
Proceeds from (repayments of) short-term borrowings, net — (660) 660 — —
Proceeds from borrowings 6,268 6,052 2,745 2,628 18,644
Repurchases and repayments of debt (3,573) (4,015) (2,307) (11,498) (18,777)
Free cash flow to equity (FCFE) 15,238 14,338 13,744 8,219 12,970

Based on: 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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Comcast Corp. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Comcast Corp. FCFE increased from 2022 to 2023 and from 2023 to 2024.

Price to FCFE Ratio, Current

Comcast Corp., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 3,781,022,601
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 15,238
FCFE per share 4.03
Current share price (P) 35.56
Valuation Ratio
P/FCFE 8.82
Benchmarks
P/FCFE, Competitors1
Alphabet Inc. 28.96
Meta Platforms Inc. 26.60
Netflix Inc. 50.97
Walt Disney Co. 27.60
P/FCFE, Sector
Media & Entertainment 27.28
P/FCFE, Industry
Communication Services 26.21

Based on: 10-K (reporting date: 2024-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Comcast Corp., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 3,781,022,601 3,971,857,339 4,216,056,328 4,533,230,325 4,580,656,172
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 15,238 14,338 13,744 8,219 12,970
FCFE per share3 4.03 3.61 3.26 1.81 2.83
Share price1, 4 33.66 46.54 39.97 49.99 51.45
Valuation Ratio
P/FCFE5 8.35 12.89 12.26 27.57 18.17
Benchmarks
P/FCFE, Competitors6
Alphabet Inc. 31.99 25.65 22.91 29.75 26.58
Meta Platforms Inc. 27.83 23.53 17.26 16.84 32.77
Netflix Inc. 49.99 35.64 176.91 — 81.38
Walt Disney Co. 27.60 55.51 — — 18.20
P/FCFE, Sector
Media & Entertainment 28.98 24.75 23.67 29.77 27.24
P/FCFE, Industry
Communication Services 27.40 21.97 31.82 26.52 20.51

Based on: 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).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 15,238,000,000 ÷ 3,781,022,601 = 4.03

4 Closing price as at the filing date of Comcast Corp. Annual Report.

5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 33.66 ÷ 4.03 = 8.35

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Comcast Corp. P/FCFE ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.