Comcast vs Liberty Global
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The short version
- Comcast is the larger business, with $123.7B of revenue in fiscal 2025 against $4.9B for Liberty Global, about 25 times as much.
- Liberty Global grew revenue faster (12.4%, against −0.0%).
- Comcast kept more of each dollar of sales as operating profit (16.7% operating margin, against −0.5%).
- Comcast turned more of its sales into free cash flow (17.7% FCF margin, against −2.7%).
- Comcast earned a higher return on the capital invested in it (8.9%, against −0.1%).
| Latest fiscal year | CMCSA · FY25 | LBTYA · FY25 |
|---|---|---|
| Size | ||
| Market cap | $80.8B | $2.7B |
| Revenue | $123.7B | $4.9B |
| Free cash flow | $21.9B | −$132M |
| Net income | $20.0B | −$7.1B |
| Growth | ||
| Revenue growth | −0.0% | 12.4% |
| 5-year growth | 3.6% | −15.8% |
| Share count change | −5.1% | −8.8% |
| Profitability | ||
| Gross margin | — | 65.8% |
| Operating margin | 16.7% | −0.5% |
| Net margin | 16.2% | −146.3% |
| FCF margin | 17.7% | −2.7% |
| Return on capital | 8.9% | −0.1% |
| Return on equity | 21.9% | −64.6% |
| Balance sheet | ||
| Net debt | $83.5B | $6.4B |
| Net debt / EBITDA | 2.3x | 6.3x |
| Dividends and buybacks | $12.0B | $192M |
| Valuation & quality | ||
| P/E | 7.2x | — |
| Piotroski F-score | 7 | 5 |
Revenue
FY16
CMCSA $80.7B
LBTYA $13.7B
FY17
CMCSA $85.0B
LBTYA $11.3B
FY18
CMCSA $94.5B
LBTYA $12.0B
FY19
CMCSA $108.9B
LBTYA $11.5B
FY20
CMCSA $103.6B
LBTYA $11.5B
FY21
CMCSA $116.4B
LBTYA $10.3B
FY22
CMCSA $121.4B
LBTYA $4.0B
FY23
CMCSA $121.6B
LBTYA $4.1B
FY24
CMCSA $123.7B
LBTYA $4.3B
FY25
CMCSA $123.7B
LBTYA $4.9B
CMCSA
LBTYA
Operating margin
FY16
CMCSA 20.9%
LBTYA 11.4%
FY17
CMCSA 21.2%
LBTYA 7.0%
FY18
CMCSA 20.1%
LBTYA 7.0%
FY19
CMCSA 19.4%
LBTYA 5.7%
FY20
CMCSA 16.9%
LBTYA 17.6%
FY21
CMCSA 17.9%
LBTYA 12.8%
FY22
CMCSA 11.6%
LBTYA 2.7%
FY23
CMCSA 19.2%
LBTYA −7.6%
FY24
CMCSA 18.8%
LBTYA −1.4%
FY25
CMCSA 16.7%
LBTYA −0.5%
CMCSA
LBTYA
Free cash flow
FY16
CMCSA $10.6B
LBTYA $4.4B
FY17
CMCSA $11.7B
LBTYA $4.5B
FY18
CMCSA $14.5B
LBTYA $4.5B
FY19
CMCSA $15.7B
LBTYA $3.4B
FY20
CMCSA $15.6B
LBTYA $2.9B
FY21
CMCSA $20.0B
LBTYA $2.1B
FY22
CMCSA $15.8B
LBTYA $1.9B
FY23
CMCSA $16.3B
LBTYA $1.2B
FY24
CMCSA $15.5B
LBTYA $1.1B
FY25
CMCSA $21.9B
LBTYA −$132M
CMCSA
LBTYA
Return on capital
FY16
CMCSA 10.0%
LBTYA 3.0%
FY17
CMCSA —
LBTYA 1.4%
FY18
CMCSA —
LBTYA 1.2%
FY19
CMCSA 9.5%
LBTYA 1.6%
FY20
CMCSA 7.4%
LBTYA 5.5%
FY21
CMCSA 8.2%
LBTYA 4.1%
FY22
CMCSA 4.2%
LBTYA 0.2%
FY23
CMCSA 10.0%
LBTYA −0.9%
FY24
CMCSA 11.4%
LBTYA −0.3%
FY25
CMCSA 8.9%
LBTYA −0.1%
CMCSA
LBTYA
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.