Risk Sleuth
CMCSA · 10-K filed 3 Feb 2026 · year to 31 Dec 2025

Comcast

36 named things its latest annual report says its results depend on, each in the company's own words. 23 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Customer premise equipment suppliers

depends onnamed as a risk
We purchase from a limited number of suppliers a significant amount of customer premise equipment, including wireless gateways and set-top boxes, network equipment, and services to provide our broadband and video services to residential and business customers.Business (Item 1)

Third-party satellite transponder capacity

depends onnamed as a risk
We also rely on third-party satellite transponder capacity to provide video services in Europe, as well as on third-party wireless networks to offer certain wireless services in the United States and internationally.Risk factors (Item 1A)

Paramount

depends on
The programming on our Sky-branded entertainment television networks includes content licensed from both third parties and our Studios segment, including certain original content, and the most significant agreements for the licensing of film and television entertainment content include rights with Paramount, Warner Bros. and our Studios segment, certain of which are exclusive rights.Business (Item 1)

Also named by GHC, RITM, TKO

Warner Bros.

depends on
The programming on our Sky-branded entertainment television networks includes content licensed from both third parties and our Studios segment, including certain original content, and the most significant agreements for the licensing of film and television entertainment content include rights with Paramount, Warner Bros. and our Studios segment, certain of which are exclusive rights.Business (Item 1)

Also named by BBW

The Nielsen Company

depends on
Household data is based on information from The Nielsen Company as of December 31, 2025, using its Cable Coverage Universe Estimates report and dynamic ad insertion estimates.Business (Item 1)

Partners and platforms

Verizon

depends onnamed as a risk
Our domestic wireless services are offered over Verizon’s wireless network and our existing network of secure residential, outdoor and business Wi-Fi hotspots, and are offered initially only as part of our bundled service offerings to customers that subscribe to our qualifying broadband services.Business (Item 1)

Also named by ASTS, ECHO, EXTR

National Football League (NFL)

depends onnamed as a risk
The agreement expires after the 2033-34 season, with a termination right available to the NFL after the 2029-30 season.Business (Item 1)

Also named by DIS, DKNG, EXTR

National Basketball Association (NBA)

depends on
Our most significant sports rights agreements relate to the NBA, NFL, Olympics and English Premier League.Business (Item 1)

Also named by DKNG, LLYVA, MSGS, OWL, SPHR, TTWO

T-Mobile

depends on
In 2026, our domestic wireless services offered to business customers will also begin using T-Mobile’s wireless network under an MVNO agreement.Business (Item 1)

Also named by CCI, ECHO, LUV

Olympic Games

depends on
In particular, advertising revenue increases due to increased demand for advertising time for these events and distribution revenue increases in the period of broadcasts of the Olympic Games.Business (Item 1)

Also named by WBD

Charter Communications

Our other business interests reported in Corporate and Other consist primarily of our Sky-branded video services and television networks in Germany; Comcast Spectacor, which owns the Philadelphia Flyers and the Xfinity Mobile Arena in Philadelphia, Pennsylvania; and Xumo, our consolidated streaming platform joint venture with Charter Communications.Business (Item 1)

Also named by AAOI

English Premier League

depends on
Our most significant sports rights agreements relate to the NBA, NFL, Olympics and English Premier League.Business (Item 1)

Other companies

Versant Media Group

100% of the shares of Versant common stocknamed as a risk
If the failure to qualify is caused by any action taken by Versant, Versant is required to indemnify us for any resulting tax liabilities.Risk factors (Item 1A)

Writers Guild of America

named as a risk
For example, the Writers Guild of America (“Writers Guild”) and the Screen Actors Guild-American Federation of Television and Radio Artists (“SAG”) work stoppages in 2023 paused productions, which reduced content licensing revenue at our Studios segment.Risk factors (Item 1A)

Also named by NFLX

Competitors

AT&T

competes withnamed as a risk
Various wireless companies, such as AT&T, T-Mobile and Verizon, offer internet services using a variety of wireless technologies, including 5G fixed wireless networks and 4G and 5G wireless broadband services.Business (Item 1)

Also named by ASTS, CCI, ECHO, LUMN

Netflix

competes withnamed as a risk
subscription-based services, such as Disney+ and Netflix, that offer online services that enable internet streaming and downloading of movies, television shows and other video programmingBusiness (Item 1)

Also named by TKO, WBD

YouTube TV

competes withnamed as a risk
virtual multichannel video providers, such as Hulu + Live TV and YouTube TV, that offer streamed linear television networksBusiness (Item 1)

Also named by DIS, GHC

BT

competes withnamed as a risk
Certain wireline telecommunications companies, such as AT&T, Lumen and Verizon in the United States and BT and Virgin Media O2 in the United Kingdom, have built and are continuing to build fiber-based wireline network infrastructure further into their networks, which enables them to provide data transmission speeds that exceed those that can be provided with traditional copper digital subscriber line (“DSL”) technology, and are offering services with these higher speeds in many of our service areas.Business (Item 1)

Places

United Kingdom

operates in
We offer broadband and wireline voice services in the United Kingdom and Italy using third-party networks.Business (Item 1)

Also named by AGX, AJG, AMP, BAC, BF/B, BGC, BRO, C and 59 more

Italy

operates in
Contains our broadband, wireless, video and wireline voice businesses in the United States, United Kingdom and Italy (collectively, the “Connectivity & Platforms markets”).Business (Item 1)

Also named by ABNB, HLIO, JEF, JOUT, KRYS, RL, ROK

Orlando, Florida

operates in
Universal Orlando Resort: Includes three theme parks, Universal Studios Florida, Islands of Adventure, and our newest theme park, Epic Universe, which opened in May 2025, as well as our water park, Volcano Bay, all of which are located in Orlando, Florida.Business (Item 1)

Also named by DRI, MAA, RHP

Osaka, Japan

operates in
Universal Studios Japan: Includes the Universal Studios Japan theme park located in Osaka, Japan.Business (Item 1)

Also named by SWKS

Beijing, China

operates in
Universal Beijing Resort is owned by us and a consortium of Chinese state-owned companies (see Note 8 to the consolidated financial statements included in this Annual Report on Form 10-K).Business (Item 1)

Hollywood, California

operates in
Universal Studios Hollywood: Includes the Universal Studios Hollywood theme park located in Hollywood, California and Universal CityWalk Hollywood, a dining, retail and entertainment complex.Business (Item 1)

Hazards

Hurricanes

named as a risk
Our services, products and properties are vulnerable to damage from the occurrence of certain events, including natural disasters, severe weather events such as hurricanes and wildfires, and a range of other unforeseeable events such as infectious disease outbreaks, terrorist attacks or other similar events.Risk factors (Item 1A)

Also named by AIG, AN, ASO, BAC, BBY, BJ, BPOP, BRO and 89 more

Commodities and inputs

Euro

exposed to its pricenamed as a risk
The value of these currencies, primarily including the British pound, euro, Japanese yen and Chinese yuan, fluctuates relative to the U.S. dollar.Market risk (Item 7A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

British pound

exposed to its pricenamed as a risk
The value of these currencies, primarily including the British pound, euro, Japanese yen and Chinese yuan, fluctuates relative to the U.S. dollar.Market risk (Item 7A)

Also named by ABBV, ADBE, AJG, AME, AMP, APA, BF/B, BRO and 39 more

Regulators

Federal Trade Commission (FTC)

subject tonamed as a risk
The FTC has sought to expand its authority in this area through various rulemakings related to general privacy, targeted advertising and children’s privacy.Business (Item 1)

Also named by AMZN, AN, AVGO, BJ, CART, CELH, CHD, CHE and 56 more

Federal Communications Commission (FCC)

subject tonamed as a risk
In the United States in particular, the Communications Act of 1934, as amended (the “Communications Act”), and Federal Communications Commission (“FCC”) regulations and policies affect significant aspects of our communications businesses.Business (Item 1)

Also named by AIOT, AMT, ANET, ASTS, CCI, DIS, ECHO, EXTR and 26 more

Laws and programs

Communications Act of 1934

subject tonamed as a risk
However, a federal appellate court in January 2025 overturned that reclassification, ruling that broadband internet access service is an “information service” under Title I of the Communications Act and that the FCC does not have authority to subject broadband services to utility-style regulations such as rate regulation and market entry and exit requirements under Title II.Business (Item 1)

Also named by ASTS, ECHO, NXST, RHP, T, TMUS, VZ

Cable compulsory copyright license

subject tonamed as a risk
U.S. copyright laws establish a cable compulsory copyright license that requires our video distribution business to contribute a specified percentage of revenue to a federal copyright royalty pool in exchange for retransmitting copyrighted material included in broadcast signals.Business (Item 1)

Internet Tax Freedom Act

subject tonamed as a risk
The Internet Tax Freedom Act (“ITFA”) prohibits most states and localities from imposing sales and other taxes on our internet access charges and discriminating against electronic commerce; however, some jurisdictions may challenge the ITFA or the application of the ITFA to our business, or may assert that certain taxes akin to right-of-way fees are not preempted by the ITFA or other federal laws.Business (Item 1)

Broadband-deployment funding initiatives

subject tonamed as a risk
Domestic broadband-deployment funding initiatives at federal and state levels may result in other service providers deploying subsidized internet access within our footprint.Business (Item 1)

FCC spectrum reallocation

subject tonamed as a risk
Further, if the FCC reallocates spectrum that our businesses currently use to provide services, we could be required to transition our operations to different frequencies in order to accommodate the reallocation of spectrum for 5G, which could disrupt our services and impose additional costs.Business (Item 1)

Local broadcast television stations retransmission consent

depends onnamed as a risk
Part of these programming expenses include payments to certain local broadcast television stations in exchange for their required consent for the retransmission of broadcast network programming to video services customers; we expect to continue to be subject to demands for payment and other concessions from local broadcast television stations.Risk factors (Item 1A)

EU General Data Protection Regulation

subject to
Internationally, we are subject to the European Union’s General Data Protection Regulation and the United Kingdom’s Data Protection Act of 2018, as well as many other similar laws that apply to our businesses, which broadly regulate the processing of personal data collected from individuals in the European Union and United Kingdom, respectively.Business (Item 1)

Also named by ACN, ADSK, AIG, ALK, AMG, ANET, APG, AXON and 61 more