CMCSAComcast
Is the business good?
A genuinely good business: earnings fully cash-backed (2.3×) and margins widening.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
A balanced mix of margins, efficiency, and leverage. ROE 19% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CMCSA?
Comcast earns 8.4% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 0.61 points below what the capital costs: growth destroys value
- Operating margin
- 15%
Operating margin · Telecom Services median 11% · 12 months to Q2 2026
- Cash conversion
- 2.30×
Cash conversion · 1.69× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −4.2%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 17% |
| FY2021 | 18% |
| FY2022 | 12% |
| FY2023 | 19% |
| FY2024 | 19% |
| FY2025 | 17% |
Details›
- Operating margin12 months to Q2 2026
- 15%
- Net margin12 months to Q2 2026
- 9.0%
- Free cash flow margin
- 16%
- Revenue, trailing twelve months
- $124.9B
- Free cash flow, trailing twelve months
- $20.4B
- Net income, trailing twelve months
- $11.2B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 8.4%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Telecom Services
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