Filing Flows

Filing Flows › Companies › Comcast › Cash flow

Comcast cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$4.8B in Q3 2026 · $19.7B over twelve months

Operating cash flow$7.9B
Capital spending−$3.1B
Free cash flow+$4.8B
Cash / net income2.4×

Analysis

In Q3 2026, Comcast generated $7.9B of operating cash flow and spent $3.1B on capital projects, leaving free cash flow of $4.8B. That is $777M less than in Q3 2025 ($5.6B).

Over the twelve months to Sep 30, 2026, operating cash flow was $31.7B; the largest uses were capital spending ($12.1B), net borrowing (+) / repaid (−) ($8.8B), dividends ($4.8B); the cash balance fell by $1.7B.

Operating cash flow was $7.9B against net income of $3.4B — 2.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$3.7B, other operating capital +$613M, stock-based pay +$348M.

Free cash flow

Comcast: free cash flow by quarterComcast: free cash flow by quarter$4.2BQ4 2024$6.0BQ1 2025$5.1BQ2 2025$5.6BQ3 2025$5.1BQ4 2025$4.5BQ1 2026$5.2BQ2 2026$4.8BQ3 2026
Operating cash flow less capital spending.
Comcast: operating cash flow against capital spendingComcast: operating cash flow against capital spendingOperating cash flowCapital spending$8.1B$3.9BQ4 2024$8.3B$2.3BQ1 2025$7.8B$2.7BQ2 2025$8.7B$3.1BQ3 2025$8.8B$3.7BQ4 2025$6.9B$2.4BQ1 2026$8.1B$2.9BQ2 2026$7.9B$3.1BQ3 2026
Latest (Q3 2026): Operating cash flow $7.9B, Capital spending $3.1B.

Capital allocation, year by year

Comcast: where the cash came from (up) and went (down), by fiscal yearComcast: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $29.1BFY2021: Net borrowing $2.6BFY2021: Capital spending −$9.2BFY2021: Acquisitions −$1.4BFY2021: Buybacks −$4.7BFY2021: Dividends −$4.5B$31.8BFY2021FY2022: Operating cash flow $26.4BFY2022: Net borrowing $1.1BFY2022: Capital spending −$10.6BFY2022: Acquisitions −$12.0MFY2022: Buybacks −$13.3BFY2022: Dividends −$4.7B$27.5BFY2022FY2023: Operating cash flow $28.5BFY2023: Net borrowing $1.4BFY2023: Capital spending −$12.2BFY2023: Buybacks −$11.3BFY2023: Dividends −$4.8B$29.9BFY2023FY2024: Operating cash flow $27.7BFY2024: Net borrowing $2.7BFY2024: Capital spending −$12.2BFY2024: Acquisitions −$119MFY2024: Buybacks −$9.1BFY2024: Dividends −$4.8B$30.4BFY2024FY2025: Operating cash flow $33.6BFY2025: Net borrowing −$2.2BFY2025: Capital spending −$11.8BFY2025: Acquisitions −$1.3BFY2025: Buybacks −$7.2BFY2025: Dividends −$4.9B$33.6BFY2025
Over these 5 years operating cash flow totalled $145.4B; the largest uses were capital spending ($56.0B) and buybacks ($45.5B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$7.6B
Debt$87.4B
Net debt$79.8B
Due within a year$5.8B

Comcast funds itself: free cash flow was $19.7B over the last twelve months, and $7.6B of cash and investments stands against $87.4B of debt ($5.8B due within a year, 1.3× covered by cash).

Comcast: debt maturities by year (FY2025)Comcast: debt maturities by year (FY2025)$5.8BYear 1$4.9BYear 2$5.6BYear 3$4.7BYear 4$4.8BYear 5
Principal due in each year as disclosed in the annual report, against $7.6B of cash and investments now.

Where the cash came from and went

Comcast: sources (+) and uses (−) of cash, Q3 2026Comcast: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$7.9BNet borrowing (+) / repaid (−)−$3.1BCapital spending−$3.1BDividends−$1.2BOther investing−$700MCash drawn (+) / kept (−)$58.0MOther financing$33.0MBuybacks−$10.0MExchange rates$10.0MNot reconciled−$1.0M
Comcast: sources (+) and uses (−) of cash, TTM to Q3 2026Comcast: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$31.7BCapital spending−$12.1BNet borrowing (+) / repaid (−)−$8.8BDividends−$4.8BBuybacks−$4.1BOther investing−$2.6BCash drawn (+) / kept (−)$1.7BOther financing−$1.1BAcquisitions−$27.0MExchange rates$13.0MNot reconciled−$1.0M

From profit to cash

Comcast: net income to operating cash flow, Q3 2026Comcast: net income to operating cash flow, Q3 2026Net income$3.4BDepreciation & amortization$3.7BStock-based pay$348MDeferred taxes$96.0MPayables−$68.0MOther operating capital$613MOperating cash flow$7.9B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$7.9B−$3.1B—−$10.0M−$1.2B−$3.1B$58.0M$4.8B
Q2 2026$8.1B−$2.9B—−$1.0B−$1.2B−$4.2B$1.8B$5.2B
Q1 2026$6.9B−$2.4B—−$1.5B−$1.2B−$1.2B$1.0B$4.5B
Q4 2025$8.8B−$3.7B−$27.0M−$1.5B−$1.2B−$374M−$1.2B$5.1B
Q3 2025$8.7B−$3.1B—−$1.6B−$1.2B−$2.5B$377M$5.6B
Q2 2025$7.8B−$2.7B—−$1.8B−$1.2B$1.3B−$1.1B$5.1B
Q1 2025$8.3B−$2.3B—−$2.2B−$1.2B−$636M−$1.3B$6.0B
Q4 2024$8.1B−$3.9B−$119M−$2.2B−$1.2B−$1.1B$1.5B$4.2B

Comcast: income statement and cash flow

Comcast, Q3 2026: revenue $29.3B (-6% year over year), operating margin 18.2%. The chart follows the revenue to costs, profit and cash.

Comcast: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.