Comcast Corporation (CMCSA) Financial Statements

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Comcast financial statements at a glance

Comcast reported revenue of $123.71 billion for fiscal year 2025 (ended December 31, 2025), about flat from fiscal year 2024. Net income was $20.00 billion, a net margin of 16.2%, and diluted earnings per share were $5.39.

At the end of fiscal year 2025 it had total assets of $272.63 billion, total liabilities of $175.26 billion and shareholders' equity of $96.90 billion, with cash and short-term investments of $9.48 billion and total debt of $98.94 billion.

Its operations brought in $33.64 billion of cash; capital spending was $14.41 billion, leaving free cash flow of $19.24 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

CMCSA logo

Comcast Corporation

CMCSAUnited States
Communication Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
123.71B
Prev Year: 123.73B
YoY: -0.0%
Operating Revenue
123.71B
Prev Year: 123.73B
YoY: -0.0%
Weighted Average Shares (diluted)
3.71B
Prev Year: 3.91B
YoY: -5.1%
Weighted Average Shares (basic)
3.60B
Prev Year: 3.79B
YoY: -4.8%
Diluted EPS
5.39
Prev Year: 4.14
YoY: +30.2%
Basic EPS
5.549
Prev Year: 4.27
YoY: +29.9%
Other Income Expense
9.50B
Prev Year: -491.00M
YoY: +2035.4%
Equity in Earnings of Affiliates
-591.00M
Prev Year: -680.00M
YoY: +13.1%
Gain on Sale of Securities
10.09B
Prev Year: -313.00M
YoY: +3324.9%
Depreciation Amortization Depletion
16.21B
Prev Year: 14.80B
YoY: +9.5%
Amortization
6.88B
Prev Year: 6.07B
YoY: +13.4%
Amortization of Intangibles
6.88B
Prev Year: 6.07B
YoY: +13.4%
Cost of Revenue
34.95B
Prev Year: 37.03B
YoY: -5.6%
Gross Profit
88.76B
Prev Year: 86.70B
YoY: +2.4%
Operating Expense
68.09B
Prev Year: 63.41B
YoY: +7.4%
Selling General and Administrative
8.86B
Prev Year: 8.07B
YoY: +9.8%
Selling and Marketing Expense
8.86B
Prev Year: 8.07B
YoY: +9.8%
General and Administrative Expense
-
Depreciation and amortization
16.21B
Prev Year: 14.80B
YoY: +9.5%
Depreciation
9.33B
Prev Year: 8.73B
YoY: +6.9%
Other Operating Expenses
43.01B
Prev Year: 40.53B
YoY: +6.1%
Operating Income
20.67B
Prev Year: 23.30B
YoY: -11.3%
Net Non Operating Interest Income Expense
-4.41B
Prev Year: -4.13B
YoY: -6.7%
Non-operating Interest Expense
4.41B
Prev Year: 4.13B
YoY: +6.7%
Pre-tax Income
25.77B
Prev Year: 18.67B
YoY: +38.0%
Provision for Income Taxes
6.11B
Prev Year: 2.80B
YoY: +118.4%
Net Income Common Stockholders
20.00B
Prev Year: 16.19B
YoY: +23.5%
Net Income
20.00B
Prev Year: 16.19B
YoY: +23.5%
Net Income Including Non-Controlling Interests
19.66B
Prev Year: 15.88B
YoY: +23.8%
Net Income from Continuing Operations
19.66B
Prev Year: 15.88B
YoY: +23.8%
Noncontrolling Interests
338.00M
Prev Year: 315.00M
YoY: +7.3%
Diluted NI Available to Com Stockholders
20.00B
Prev Year: 16.19B
YoY: +23.5%
Total Operating Income as Reported
20.67B
Prev Year: 23.30B
YoY: -11.3%
Total Expenses
103.04B
Prev Year: 100.43B
YoY: +2.6%
Net Income from Continuing and Discontinued Operation
20.00B
Prev Year: 16.19B
YoY: +23.5%
Normalized Income
12.30B
Prev Year: 16.46B
YoY: -25.3%
Interest Expense
4.41B
Prev Year: 4.13B
YoY: +6.7%
Net Interest Income
-4.41B
Prev Year: -4.13B
YoY: -6.7%
EBIT
30.18B
Prev Year: 22.81B
YoY: +32.3%
EBITDA
46.39B
Prev Year: 37.61B
YoY: +23.3%
Reconciled Cost of Revenue
34.95B
Prev Year: 37.02B
YoY: -5.6%
Reconciled Depreciation
16.21B
Prev Year: 14.80B
YoY: +9.5%
Net Income from Continuing Operation Net Minority Interest
20.00B
Prev Year: 16.19B
YoY: +23.5%
Total Unusual Items Excluding Goodwill
10.09B
Prev Year: -313.00M
YoY: +3324.9%
Total Unusual Items
10.09B
Prev Year: -313.00M
YoY: +3324.9%
Normalized EBITDA
36.29B
Prev Year: 37.92B
YoY: -4.3%
Tax Rate for Calcs
0.237
Prev Year: 0
Tax Effect of Unusual Items
2.39B
Prev Year: -46.95M
YoY: +5195.4%
Values in USD

Comcast key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$123.7B$123.7B$121.6B$121.4B$116.4B
Gross profit$88.8B$86.7B$84.8B$83.2B$77.9B
Operating income$20.7B$23.3B$23.3B$22.6B$20.8B
Net income$20.0B$16.2B$15.4B$5.4B$14.2B
Diluted EPS$5.39$4.14$3.71$1.21$3.04
Total assets$272.6B$266.2B$264.8B$257.3B$275.9B
Total liabilities$175.3B$179.9B$181.3B$175.2B$177.9B
Shareholders' equity$96.9B$85.6B$82.7B$80.9B$96.1B
Cash and short-term investments$9.5B$7.3B$6.2B$4.7B$8.7B
Total debt$98.9B$99.1B$97.1B$100.0B$100.0B
Operating cash flow$33.6B$27.7B$28.5B$26.4B$29.1B
Capital spending$14.4B$15.1B$15.5B$13.8B$12.1B
Free cash flow$19.2B$12.5B$13.0B$12.6B$17.1B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Comcast's revenue in fiscal year 2025?

$123.71 billion, about flat from $123.73 billion in fiscal year 2024.

How much profit does Comcast make?

Comcast reported net income of $20.00 billion for fiscal year 2025 (16.2% of revenue); operating income was $20.67 billion.

How much cash and debt does Comcast have?

At the end of fiscal year 2025: cash and short-term investments of $9.48 billion and total debt of $98.94 billion.

What is Comcast's free cash flow?

$19.24 billion in fiscal year 2025 (operating cash flow of $33.64 billion minus capital spending of $14.41 billion).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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