Comcast Beneish M Score

CMCSA
 Stock
  

USD 39.57  0.46  1.18%   

This module uses fundamental data of Comcast Corp to approximate the value of its Beneish M Score. Comcast Corp M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Continue to Comcast Corp Piotroski F Score and Comcast Corp Altman Z Score analysis.
  
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Comcast Corp Debt Current is projected to increase significantly based on the last few years of reporting. The past year's Debt Current was at 2.13 Billion. The current year Debt to Equity Ratio is expected to grow to 1.88, whereas Total Debt is forecasted to decline to about 93.8 B. Comcast Corp Calculated Tax Rate is projected to decrease significantly based on the last few years of reporting. The past year's Calculated Tax Rate was at 27.54. The current year Receivables Turnover is expected to grow to 12.18, whereas Interest Coverage is forecasted to decline to 4.73.
At this time, it appears that Comcast Corp A is an unlikely manipulator. The earnings manipulation may begin if Comcast Corp's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Comcast Corp executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Comcast Corp's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-2.67
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables0.99Focus
Asset Quality1.0Focus
Expense Coverage0.99Focus
Gross Margin Strengs0.99Focus
Accruals Factor0.99Focus
Depreciation Resistance0.99Focus
Net Sales Growth0.94Focus
Financial Leverage Condition1.01Focus

Comcast Corp Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Comcast Corp's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Revenues109.4 B116.4 B
Notably Down
Increasing
Slightly volatile
Selling General and Administrative Expense75.9 B81.8 B
Significantly Down
Increasing
Slightly volatile
Net Cash Flow from Operations27.2 B29.1 B
Significantly Down
Increasing
Slightly volatile
Depreciation Amortization and Accretion13 B13.8 B
Notably Down
Increasing
Slightly volatile
Total Assets263.1 B275.9 B
Sufficiently Down
Increasing
Slightly volatile
Investments8.6 B8.7 B
Slightly Down
Increasing
Very volatile
Investments Current710.5 M692.3 M
Fairly Up
Decreasing
Stable
Investments Non Current8.3 B8.7 B
Sufficiently Down
Increasing
Stable
Property Plant and Equipment Net50.7 B54 B
Notably Down
Increasing
Slightly volatile
Trade and Non Trade Receivables11.2 B12 B
Significantly Down
Increasing
Slightly volatile
Total Liabilities173.6 B178.4 B
Fairly Down
Increasing
Slightly volatile
Current Assets23.6 B24.8 B
Notably Down
Increasing
Slightly volatile
Assets Non Current239.5 B251.1 B
Sufficiently Down
Increasing
Slightly volatile
Current Liabilities28.3 B29.3 B
Sufficiently Down
Increasing
Slightly volatile
Liabilities Non Current145.3 B149.1 B
Fairly Down
Increasing
Slightly volatile
Total Debt93.8 B100 B
Notably Down
Increasing
Slightly volatile
Debt Current3.2 B2.1 B
Way Up
Increasing
Slightly volatile
Debt Non Current90.6 B97.9 B
Significantly Down
Increasing
Slightly volatile
Operating Income20.5 B20.8 B
Fairly Down
Increasing
Slightly volatile
Gross Margin0.890.9
Fairly Down
Decreasing
Slightly volatile

Comcast Corp A Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Comcast Corp's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Comcast Corp in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Comcast Corp's degree of accounting gimmicks and manipulations.

About Comcast Corp Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Depreciation Amortization and Accretion

13.04 Billion

Share
Comcast Corp Depreciation Amortization and Accretion is projected to increase significantly based on the last few years of reporting. The past year's Depreciation Amortization and Accretion was at 13.8 Billion

Comcast Corp Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as Comcast Corp. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201720182019202020212022 (projected)
Revenues85.03 B94.51 B108.94 B103.56 B116.39 B109.44 B
Total Assets187.46 B251.68 B263.41 B273.87 B275.9 B263.12 B
Current Assets16.34 B21.85 B25.39 B26.74 B24.81 B23.58 B
Assets Non Current171.12 B229.84 B238.02 B247.13 B251.1 B239.54 B
Total Liabilities118 B179.18 B179.54 B182.13 B178.41 B173.56 B
Current Liabilities21.99 B27.6 B30.29 B28.8 B29.35 B28.29 B
Total Debt64.56 B111.74 B107.38 B108.93 B100.02 B93.8 B
Debt Current5.13 B4.4 B4.45 B3.15 B2.13 B3.21 B
Debt Non Current59.42 B107.34 B102.93 B105.78 B97.89 B90.59 B
Operating Income18.02 B19.01 B21.12 B17.49 B20.82 B20.46 B
Investments6.93 B7.88 B7.68 B8.27 B8.69 B8.61 B

About Comcast Corp Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Comcast Corp A's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Comcast Corp using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Comcast Corp A based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Comcast Corporation operates as a media and technology company worldwide. Comcast Corporation was founded in 1963 and is headquartered in Philadelphia, Pennsylvania. Comcast Corp operates under Entertainment classification in the United States and is traded on NASDAQ Exchange. It employs 189000 people.

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Our tools can tell you how much better you can do entering a position in Comcast Corp without increasing your portfolio risk or giving up expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate.risk-adjusted returns of your individual positions relative to your overall portfolio.

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Analyst Recommendations

Analyst recommendations and target price estimates broken down by several categories
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Pair Trading with Comcast Corp

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Comcast Corp position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Comcast Corp will appreciate offsetting losses from the drop in the long position's value.

Comcast Corp Pair Correlation

Correlation Analysis For Direct Indexing and Tax-loss Harvesting

The ability to find closely correlated positions to Comcast Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Comcast Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Comcast Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Comcast Corp A to buy it.
The correlation of Comcast Corp is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Comcast Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Comcast Corp A moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Comcast Corp can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
Continue to Comcast Corp Piotroski F Score and Comcast Corp Altman Z Score analysis. Note that the Comcast Corp A information on this page should be used as a complementary analysis to other Comcast Corp's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.

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When running Comcast Corp A price analysis, check to measure Comcast Corp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Comcast Corp is operating at the current time. Most of Comcast Corp's value examination focuses on studying past and present price action to predict the probability of Comcast Corp's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Comcast Corp's price. Additionally, you may evaluate how the addition of Comcast Corp to your portfolios can decrease your overall portfolio volatility.
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Is Comcast Corp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Comcast Corp. If investors know Comcast will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Comcast Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
0.099
Market Capitalization
177.3 B
Quarterly Revenue Growth YOY
0.14
Return On Assets
0.0483
Return On Equity
0.15
The market value of Comcast Corp A is measured differently than its book value, which is the value of Comcast that is recorded on the company's balance sheet. Investors also form their own opinion of Comcast Corp's value that differs from its market value or its book value, called intrinsic value, which is Comcast Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Comcast Corp's market value can be influenced by many factors that don't directly affect Comcast Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Comcast Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine Comcast Corp value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Comcast Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.