COMCAST CORP (CMCSA) vs. APPLIED MATERIALS INC /DE (AMAT) Stock Comparison & Valuation | Edwyn

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COMCAST CORP (CMCSA) vs. APPLIED MATERIALS INC /DE (AMAT) Stock Comparison & Valuation | Edwyn

Updated 2026-08-01 05:59 UTC

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CMCSA screens as extraordinarily cheap versus AMAT on every valuation multiple, but the comparison is distorted by AMAT’s much higher quality and growth profile, making the apparent 1,218.8% upside largely non-comparable.

Actionable Takeaway

If you believe CMCSA deserves to trade closer to its own historical band than to AMAT’s premium multiples, then avoid using AMAT as the valuation anchor and focus on CMCSA’s DCF range and historical band, because AMAT comparison is inflated by AMAT’s much stronger profitability and growth.

CMCSA trades at a deep discount to AMAT on P/E, P/S, EV/EBITDA, and EV/Revenue, but the gap mostly reflects that AMAT deserves a materially richer multiple given its superior margins, ROIC, and growth. The implied price of $315.97 versus the current $23.96 suggests a massive valuation gap, yet AMAT implied range of $568.24 to $917.98 is not economically plausible for CMCSA based on the rest of the dataset.

Supporting Metrics

Key Risks

CMCSA’s higher leverage than AMAT, with debt/equity at 1.0x and net debt/EBITDA at 1.8x, could limit rerating
CMCSA’s revenue growth of -0.0% and lower ROIC of 11.1% versus AMAT’s 4.4% and 45.1% reduce justification for multiple expansion
Altman Z-Score is unavailable, so balance-sheet risk cannot be fully assessed