Key Statistics
EV/EBIT = 10.1x
ROE = 18.68%
Debt/Equity = 126%
FCF Yield = 5.7%
Dividend Yield = 3.12%
Market Cap = $154.54 billion
The Company
Comcast is a massive telecommunications company and entertainment business. They operate multiple segments, but their main focus is residential cable & internet services.
The company delivers broadband, wireless, video, and voice services under the Xfinity, Comcast Business, and Sky brands. Additionally, Comcast produces, distributes, and streams entertainment, sports, and news through brands like NBC, Telemundo, Universal, Peacock, and Sky and operates Universal theme parks.
As of December 31, 2023, Comcast had approximately 186,000 full-time and part-time employees. About 30% of these employees work in over 30 countries outside the U.S., primarily in the U.K., Western Europe, East Asia, and South Asia.
Comcast was founded in 1963 as a small cable system in Tupelo, Mississippi. Throughout the 1960s to 1990s, Comcast expanded by acquiring rival cable systems.
In the 1990s, Comcast entered internet services with the Home Network and acquired interests in E! Entertainment and the Golf Channel. A significant milestone was in 2002 with the purchase of AT&T Broadband, making Comcast the largest cable operator in the U.S.
Further growth included acquiring a majority stake in NBCUniversal from General Electric in 2009.
Comcast operates two primary business segments:
Connectivity & Platforms: This segment includes broadband, wireless, video, and wireline voice services in the U.S., U.K., and Italy, as well as the operations of Sky-branded entertainment T.V. networks. It consists of Residential Connectivity & Platforms and Business Services Connectivity.
Content & Experiences: This segment includes media and entertainment businesses that produce and distribute content globally and operate theme parks in the U.S. and Asia. It consists of Media, Studios, and Theme Parks.
Comcast revenue breakdown: