Comcast (WBO:CMCS) Beneish M-Score: -2.81 (As of Aug. 08, 2026)

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WBO:CMCS Comcast Corp WBO:CMCS
60 GF Score
Price €21.89
GF Value €32.19
Valuation Possible Value Trap
! 2 Warning Signs
View Full Analysis

What is Comcast Beneish M-Score?

Comcast WBO:CMCS +1.11% 60 Beneish M-Score is -2.81 as of Aug. 08, 2026. GuruFocus rates WBO:CMCS with a GF Score™ of 60/100 and a GF Value™ of €32.19 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 350 Telecommunication Services companies, Comcast ranks better than 53.43% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.81 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Comcast's Beneish M-Score or its related term are showing as below:

WBO:CMCS' s Beneish M-Score Range Over the Past 10 Years
Min: -2.88   Med: -2.67   Max: -2.3
Current: -2.81

During the past 13 years, the highest Beneish M-Score of Comcast was -2.30. The lowest was -2.88. And the median was -2.67.


Comcast Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Comcast's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Comcast Beneish M-Score Chart

Comcast Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.70 -2.69 -2.67 -2.69 -2.88

Comcast Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.79 -2.88 -2.88 -2.82 -2.81

WBO:CMCS vs ECHO, TIGO, CHTR: Beneish M-Score Comparison

For the Telecom Services subindustry, Comcast's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Comcast Beneish M-Score vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Comcast's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Comcast's Beneish M-Score falls into.


WBO:CMCS
60GF Score
Comcast Corp WBO:CMCS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Comcast Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Comcast for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.1305+0.528 * 1.0198+0.404 * 0.9709+0.892 * 0.9477+0.115 * 1.0739
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0746+4.679 * -0.082126-0.327 * 0.9779
=-2.79

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was €12,113 Mil.
Revenue was 25987.92 + 27210.305 + 27592.74 + 26580.696 = €107,372 Mil.
Gross Profit was 18706.268 + 17795.645 + 18792.27 + 19206.636 = €74,501 Mil.
Total Current Assets was €22,859 Mil.
Total Assets was €223,552 Mil.
Property, Plant and Equipment(Net PPE) was €57,398 Mil.
Depreciation, Depletion and Amortization(DDA) was €13,545 Mil.
Selling, General, & Admin. Expense(SGA) was €7,775 Mil.
Total Current Liabilities was €28,725 Mil.
Long-Term Debt & Capital Lease Obligation was €73,141 Mil.
Net Income was 3060.568 + 1880.51 + 1851.472 + 2838.864 = €9,631 Mil.
Non Operating Income was 437.472 + -267.285 + -173.362 + 52.824 = €50 Mil.
Cash Flow from Operations was 7023.856 + 5960.715 + 7550.214 + 7406.436 = €27,941 Mil.
Total Receivables was €11,306 Mil.
Revenue was 26281.371 + 27645.475 + 30477.87 + 28895.07 = €113,300 Mil.
Gross Profit was 19712.979 + 19861.6 + 20903.04 + 19690.454 = €80,168 Mil.
Total Current Assets was €25,174 Mil.
Total Assets was €237,428 Mil.
Property, Plant and Equipment(Net PPE) was €55,510 Mil.
Depreciation, Depletion and Amortization(DDA) was €14,316 Mil.
Selling, General, & Admin. Expense(SGA) was €7,635 Mil.
Total Current Liabilities was €27,564 Mil.
Long-Term Debt & Capital Lease Obligation was €83,066 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(12112.94 / 107371.661) / (11305.68 / 113299.786)
=0.112813 / 0.099786
=1.1305

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(80168.073 / 113299.786) / (74500.819 / 107371.661)
=0.707575 / 0.693859
=1.0198

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (22858.78 + 57398.236) / 223551.664) / (1 - (25174.212 + 55509.675) / 237427.95)
=0.640991 / 0.660175
=0.9709

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=107371.661 / 113299.786
=0.9477

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(14316.436 / (14316.436 + 55509.675)) / (13545.147 / (13545.147 + 57398.236))
=0.20503 / 0.190929
=1.0739

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(7775.454 / 107371.661) / (7634.94 / 113299.786)
=0.072416 / 0.067387
=1.0746

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((73141.152 + 28724.724) / 223551.664) / ((83065.536 + 27563.664) / 237427.95)
=0.45567 / 0.465949
=0.9779

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(9631.414 - 49.649 - 27941.221) / 223551.664
=-0.082126

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Comcast has a M-score of -2.79 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.81 mean?
Comcast (WBO:CMCS) has a Beneish M-Score of -2.81 as of Aug. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Comcast and its competitors. According to the industry distribution chart, Comcast ranks #163 out of 350 companies in the Telecommunication Services industry, placing it in the top 46.6%.
Is Comcast's Beneish M-Score too high?
Comcast's current Beneish M-Score is -2.81. Based on the distribution chart, Comcast ranks #163 out of 350 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, Comcast has a GF Score™ of 60/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Comcast's Beneish M-Score compare to ECHO and TIGO?
According to the Telecommunication Services industry distribution chart, Comcast ranks #163 out of 350 companies for Beneish M-Score. This puts Comcast in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Telecommunication Services company?
A good Beneish M-Score depends on the Telecommunication Services industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Comcast and its competitors. Comcast's current Beneish M-Score is -2.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Comcast stock overvalued right now?
Based on GuruFocus' analysis, Comcast (WBO:CMCS) is currently considered Possible Value Trap. The stock's GF Value™ is €32.19, compared to a current price of €21.89 — trading 32% below its estimated fair value. The current Beneish M-Score is -2.81. Comcast's overall GF Score™ is 60/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Comcast (WBO:CMCS), the current Beneish M-Score is -2.81 as of Aug. 08, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Comcast (WBO:CMCS) Overvalued in 2026?

Based on GuruFocus' analysis, Comcast stock appears to be undervalued. The current stock price of €21.89 is trading 32% below its estimated GF Value™ of €32.19. GuruFocus considers Comcast to be Possible Value Trap.

Key valuation signals for WBO:CMCS:

  • Beneish M-Score: -2.81
  • GF Value™: €32.19 vs. price of €21.89 (32% below fair value)
  • GF Score™: 60/100 with 2 warning signs

No single metric tells the full story. See the WBO:CMCS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Comcast Business Description

Address One Comcast Center, Philadelphia, PA, USA, 19103-2838
Comcast is made up of three parts. The core cable business owns networks that provide television, internet access, and phone services to 65 million US homes and businesses, or nearly half of the country. The firm provides services to about half the locations in this territory. Comcast acquired NBCUniversal from General Electric in 2011. Following the spinoff of several cable networks, including CNBC, MSNBC, and USA, NBCU now consists of the NBC network, several local NBC affiliates, Bravo, the Peacock streaming platform, Universal Studios, and several theme parks. Finally, Sky, acquired in 2018, is a large television provider in the UK and Italy.
60GF Score

Get the complete analysis for WBO:CMCS

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€21.89
Price
€32.19
GF Value