Comcast vs Charter: Which Cable Stock Is Cheaper?
Charter is cheaper on every headline multiple, but Comcast is the lower-risk way to own a cable business, and "cheaper" depends on whether you count debt. Charter trades at 3.9 times trailing earnings against 7.1 for Comcast, and at 2.7 against 6.3 on forward earnings.
- But Charter's net debt is 4.18 times EBITDA against about 2.3 for Comcast, its stock is 56% below its high against 30%, and on enterprise value (equity plus debt) the gap narrows to about 5.0 times EBITDA for Charter against about 4.4 for Comcast.
- Comcast also has a dividend and wireless, theme parks and media on top of cable.
This is analysis, not a recommendation.
How do the two compare on price?
| Measure | Comcast (CMCSA) | Charter (CHTR) |
|---|---|---|
| Price | $22.69 | $108.61 |
| Market value of equity | $80.5 billion | $19.2 billion |
| Trailing / forward P/E | 7.1 / 6.3 | 3.9 / 2.7 |
| Free-cash-flow yield | 21.2% | 22.8% |
| Enterprise value to EBITDA (approximate) | About 4.4x | About 5.0x |
| Dividend yield | 6.0% | None |
| Price to book | 0.87 | 1.13 |
| Distance from 52-week high | 30% below | 56% below |
| 1-year price change | -18% | -56% |
Trailing and forward P/E ratios from this site's weekly data of October 23, 2026.
Enterprise value to EBITDA is approximate: it adds net debt (about $79.8 billion for Comcast, $93.3 billion for Charter) to the equity value and divides by EBITDA (Comcast's third quarter annualised, Charter's last twelve months of $22.3 billion). It shows that most of Charter's value is debt, which is why its equity moves so sharply.
How do the businesses compare?
| Measure | Comcast (Q3 2026) | Charter (Q2 2026) |
|---|---|---|
| Broadband customers | 28.3 million | 29.4 million |
| Broadband net adds in the quarter | -144,000 (-91,000 a year earlier) | -172,000 (-116,000 a year earlier) |
| Mobile lines added | 368,000 (10.6 million total) | 406,000 (12.5 million total) |
| Video customers added | -274,000 | -21,000 |
| Revenue change (reported) | -6.1% (+0.5% pro forma) | -1.7% |
| Adjusted EBITDA change | -5.8% (+0.8% pro forma) | -4.3% |
| Free cash flow in the quarter | $4.2 billion (-14.8%) | $969 million (-7.4%) |
| Other businesses | Media, studios, theme parks, Peacock, business services | Business services, advertising |
Both lose broadband customers at similar rates, and both grow mobile. Comcast has more to offset the decline: Peacock turned profitable ($261 million of adjusted EBITDA), Media and Studios are growing, and business services rose 2.7%. Charter is a purer cable business, and its guidance fell: it now expects standalone 2026 EBITDA to decline about 1%.
Why is Charter so much cheaper, and is it a trap?
| Factor | Comcast | Charter |
|---|---|---|
| Net debt against EBITDA | About 2.3 times | 4.18 times (about 3.9 times expected after the Cox deal) |
| Total debt | $87.4 billion | $93.8 billion |
| Interest coverage on this site | 6.1 times | 2.4 times |
| Debt to equity on this site | 0.94 | 5.70 |
| Buybacks | Suspended | Paused through Q3, with $838 million bought in Q2 |
| Pending deals | NBCUniversal and Sky separation by mid-2027 | Cox Communications merger (expected to close in mid to late August, not confirmed in the sources read) and Liberty Broadband |
Charter's cheap multiple reflects its leverage: a small fall in enterprise value is a large fall in equity, which is why the stock is down 56% over a year. The Cox merger would add about $12 billion of debt and synergies of at least $800 million a year, per the call coverage, and management has lowered its leverage target to about 3.5 times within three years of closing. Whether the deal has closed was not confirmed in the sources read. See how to check if a stock is a value trap for the tests, and how to tell if a company might go bankrupt for what debt this size demands.
How do both look on this site's checks?
| Measure | CMCSA | CHTR |
|---|---|---|
| Value filters passed | 6 of 8 | 5 of 8 |
| Buffett-style / Lynch-style checks | 6 of 8 / 3 of 5 | 5 of 8 / 3 of 5 |
| Margin of safety (DCF) | +72.4% | +74.3% |
| Earnings quality | Strong | Strong |
| Beta | 0.73 | 0.75 |
The two score almost the same on the mechanical checks. What separates them is not in the filters: Charter's equity is a thin slice on a large pile of debt, so it can fall or rise much faster than Comcast's. Check the Comcast and Charter stock pages for the full detail.
What should you read next?
More on Comcast from the same data: why has Comcast stock fallen 30% from its high? and Comcast at 7x earnings: bargain or value trap?.
Sources
- Comcast Q3 2026 earnings release (SEC, October 22, 2026): Comcast results
- Charter Q2 2026 earnings release (SEC, July 24, 2026): Charter results, debt, customers
- Tikr: Charter cut its EBITDA outlook after Q2 earnings (July 25, 2026): outlook and leverage
- Investing.com: Charter shares sink after Q2 2026 results (July 24, 2026): Cox, competition
- Comcast and Charter on this site: prices and ratios, October 23, 2026
Charter's third-quarter results, the Cox closing status and Charter's current leverage were not available. The Cox terms come from a call summary, and the enterprise-value ratios are this site's approximations. This is educational content, not investment advice.
Comcast vs Charter FAQ
Which is cheaper, Comcast or Charter?
Charter on P/E (3.9 against 7.1) and free-cash-flow yield (about 23% against 21%), but on enterprise value to EBITDA the gap is smaller, about 5.0 against 4.4, because Charter carries more debt.
Which has more debt?
Charter, with net debt of 4.18 times EBITDA against about 2.3 for Comcast, though Comcast's absolute debt of $87.4 billion is similar in size to Charter's $93.8 billion.
Does Charter pay a dividend?
No. Comcast pays $0.33 a quarter, a yield of about 6%.
Which is losing more broadband customers?
Both are losing customers: Charter lost 172,000 in Q2 and Comcast 144,000 in Q3, each more than a year earlier.
What is the Cox merger?
Charter's pending combination with Cox Communications, which adds about $12 billion of debt and at least $800 million of annual synergies according to call coverage. The closing was not confirmed in the sources read.