Comcast
CMCSA · Cable & Satellite
$22.69
0.7%AT&T
T · Integrated Telecommunication Services
$20.93
8.0%The short version
- AT&T is the larger business, with $125.6B of revenue in fiscal 2025 against $123.7B for Comcast.
- AT&T grew revenue faster (2.7%, against −0.0%).
- AT&T kept more of each dollar of sales as operating profit (19.2% operating margin, against 16.7% operating margin).
- Comcast turned more of its sales into free cash flow (17.7% FCF margin, against 15.5% FCF margin).
- Investors pay more for each dollar of AT&T’s earnings: a P/E of 11.3x against 7.2x for Comcast.
| Latest fiscal year | CMCSA · FY25 | T · FY25 |
|---|---|---|
| Size | ||
| Market cap | $80.8B | $143.2B |
| Revenue | $123.7B | $125.6B |
| Free cash flow | $21.9B | $19.4B |
| Net income | $20.0B | $22.0B |
| Growth | ||
| Revenue growth | −0.0% | 2.7% |
| 5-year growth | 3.6% | −2.6% |
| Share count change | −5.1% | −0.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 16.7% | 19.2% |
| Net margin | 16.2% | 17.5% |
| FCF margin | 17.7% | 15.5% |
| Return on capital | 8.9% | 8.7% |
| Return on equity | 21.9% | 17.9% |
| Balance sheet | ||
| Net debt | $83.5B | $117.9B |
| Net debt / EBITDA | 2.3x | 2.6x |
| Dividends and buybacks | $12.0B | $12.7B |
| Valuation & quality | ||
| P/E | 7.2x | 11.3x |
| Piotroski F-score | 7 | 7 |
FY16
CMCSA $80.7B
T $163.8B
FY17
CMCSA $85.0B
T $160.5B
FY18
CMCSA $94.5B
T $170.8B
FY19
CMCSA $108.9B
T $181.2B
FY20
CMCSA $103.6B
T $143.1B
FY21
CMCSA $116.4B
T $134.0B
FY22
CMCSA $121.4B
T $120.7B
FY23
CMCSA $121.6B
T $122.4B
FY24
CMCSA $123.7B
T $122.3B
FY25
CMCSA $123.7B
T $125.6B
CMCSA
T
FY16
CMCSA 20.9%
T 14.4%
FY17
CMCSA 21.2%
T 12.4%
FY18
CMCSA 20.1%
T 15.3%
FY19
CMCSA 19.4%
T 15.4%
FY20
CMCSA 16.9%
T 5.9%
FY21
CMCSA 17.9%
T 19.3%
FY22
CMCSA 11.6%
T −3.8%
FY23
CMCSA 19.2%
T 19.2%
FY24
CMCSA 18.8%
T 15.6%
FY25
CMCSA 16.7%
T 19.2%
CMCSA
T
FY16
CMCSA $10.6B
T $16.9B
FY17
CMCSA $11.7B
T $17.4B
FY18
CMCSA $14.5B
T $22.4B
FY19
CMCSA $15.7B
T $29.0B
FY20
CMCSA $15.6B
T $28.4B
FY21
CMCSA $20.0B
T $26.4B
FY22
CMCSA $15.8B
T $16.2B
FY23
CMCSA $16.3B
T $20.5B
FY24
CMCSA $15.5B
T $18.5B
FY25
CMCSA $21.9B
T $19.4B
CMCSA
T
FY16
CMCSA 10.0%
T 6.5%
FY17
CMCSA —
T 8.0%
FY18
CMCSA —
T 6.7%
FY19
CMCSA 9.5%
T 6.3%
FY20
CMCSA 7.4%
T 1.9%
FY21
CMCSA 8.2%
T 6.3%
FY22
CMCSA 4.2%
T −1.3%
FY23
CMCSA 10.0%
T 7.6%
FY24
CMCSA 11.4%
T 5.8%
FY25
CMCSA 8.9%
T 8.7%
CMCSA
T
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.