Comcast Holdings Corporation, established in 1969 and headquartered in Philadelphia, Pennsylvania, operates as a subsidiary of Comcast Corporation. This entity, which adopted ...
Comcast Holdings Corp. is a major American telecommunications and media conglomerate, operating as a wholly owned subsidiary of Comcast Corporation. Headquartered at 1500 Market Street, Philadelphia, PA, the company manages extensive broadband cable networks throughout the United States, offering a suite of services including digital cable television with HD programming, ...Comcast Holdings Corp. is a major American telecommunications and media conglomerate, operating as a wholly owned subsidiary of Comcast Corporation. Headquartered at 1500 Market Street, Philadelphia, PA, the company manages extensive broadband cable networks throughout the United States, offering a suite of services including digital cable television with HD programming, video-on-demand, DVR capabilities, high-speed internet with multiple email accounts and cloud storage, and traditional circuit-switched local and long-distance phone service. The company also engages in installation support, third-party electronic retail, internet connectivity solutions, and networked business applications. Financially, Comcast Holdings trades on the NYSE under CCZ with a stock price of $64, market capitalization of $15.93 billion, and an enterprise value of $172.7 billion. The company shows strong operational metrics: a gross profit margin of 69.4%, EBITDA margin of 26.9%, and net profit margin of 9%. Despite a negative tangible book value (-$42.4B) due to significant intangibles, it maintains a low P/E ratio of 8.2 and generates substantial free cash flow ($10.8B TTM). The company's financial leverage is moderate (debt/equity 1.0), with an interest coverage ratio of 4.16. Employee headcount is approximately 179,000 across the organization. Key leaders include Brian L. Roberts (Chairman & Co-CEO), Michael J. Cavanagh (Co-CEO), and Jason S. Armstrong (CFO). Founded originally in 1963 as American Cable Systems, Comcast Holdings adopted its current name in 2002, though it was established as a corporate entity in 1969. As a subsidiary of Comcast Corporation, it plays a pivotal role in the parent company's media and technology ecosystem, benefiting from synergies with NBCUniversal's content assets. The company continues to invest in network infrastructure to expand its 5G, fiber, and streaming capabilities, positioning itself for future growth in the evolving digital landscape.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$123.7B
-0.0%
-4.8%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$20.0B
+23.5%
+62.2%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+71.7%
+2.4%
+10.1%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+16.7%
-11.3%
+31.1%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+16.2%
+23.5%
+70.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$21.9B
+42.4%
+14.3%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+17.7%
+42.4%
+20.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
114.0%
-1.6%
-6.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.88x
+30.3%
-8.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good morning, ladies and gentlemen, and welcome to Comcast's Second Quarter Earnings Conference Call. [Operator Instructions] Please note this conference call is being recorded. I will now turn the call over to Executive Vice President, Investor Relations, Ms. Marci Ryvicker. Please go ahead, Ms. Ryvicker.
Marci Ryvicker: Thank you, operator, and welcome, everyone. Joining us on today's call are Brian Roberts, Mike Cavanagh, Jason Armstrong and Steve Croney. I will now refer you to Slide 2 of the presentation accompanying this call, which can also be found on our Investor Relations website and which contains our safe harbor disclaimer. This conference call may include forward-looking statements subject to certain risks and uncertainties. In addition, during this call, we will refer to certain non-GAAP financial measures. Please see our 8-K and trending schedule issued earlier this morning for the reconciliations of these non-GAAP financial measures to GAAP. With that, I'll turn the call over to Brian.
Brian Roberts: Good morning, and thanks, Marci. Before Mike and Jason take you through the quarter, I'd like to spend a few minutes on the separation we announced 3 weeks ago. Since then, we've talked with our key constituencies, employees at every level and most of our key partners, and the reaction has been overwhelmingly positive. I feel more positive and energized today than I was on the day we announced it. What's come through most clearly is renewed conviction in both businesses. There's real excitement about taking 2 exceptional companies and giving each the focus and agility to win in markets that are changing fast. We've also spent time with leaders across media and tech, and we've come away more optimistic than ever about the next wave of innovation. One thing is clear, AI and the coming generation of technology will demand more data, more bandwidth, lower latency and smarter networks and platforms. They'll bring together connectivity, entertainment and new experiences in ways we are only beginning to see. And that is exactly where Comcast is built to lead. The market is moving to our strengths and winning now is about focus, speed and relentless execution. That's also why this is the right time for Michael Angelakis to return. He's been welcomed back with tremendous enthusiasm and confidence. He has deep relationships across the industry. He knows this company and his return will help accelerate the work Steve and the team already have underway. Wireless is a great proof point of what this team can do. In the second quarter, we crossed 10 million lines for the first time, a meaningful milestone that's just 7% penetration of the total addressable lines in our footprint and perhaps a new way to look at the wireless opportunity and the significant runway we have ahead. We're building this business on top of a deep customer base, leadership in WiFi, strong wireless partnerships and products that are already in tens of …
