Historical source-based research. Compilation date and financial period are different dates.
Observation
Across 8 eligible communication services companies, the equal-weight median net margin was 16.82% for the latest selected annual periods.
Data context
The eligible sample covers 8 of 8 selected companies. The latest selected annual periods span 2025-09-27 to 2025-12-31. Companies have different fiscal year ends. This is a cross-sectional research sample, not a calendar-year index or a representation of the full sector.
Company evidence
GOOGL 32.81% (period 2025-12-31); META 30.08% (period 2025-12-31); NFLX 24.30% (period 2025-12-31); VZ 12.43% (period 2025-12-31); DIS 13.14% (period 2025-09-27); TMUS 12.45% (period 2025-12-31); T 17.47% (period 2025-12-31); CMCSA 16.17% (period 2025-12-31).
Distribution
The sample range is 12.43% (VZ) to 32.81% (GOOGL). The median is computed across company ratios with equal weight; it is not a ratio of aggregate totals. Extreme values can reflect a small denominator or unusual accounting items.
Interpretation
Advertising, subscriptions and connectivity produce very different revenue and cash-flow models. The numerator is netIncome; the denominator is revenue. Only positive denominators and disclosed numerators qualify. No missing value is replaced with zero.
What to watch
Advertising exposure, subscription economics, network investment and cash conversion.
Research limitations
Audience migration, content costs, competition, capital intensity and privacy regulation. The sample uses a September 18, 2026 source snapshot. It does not establish current market conditions, causal drivers or future returns. Sector labels are editorial and the financial-sector cash-flow measures need particular caution.
| Company | Value | Period end |
|---|---|---|
| GOOGL | 32.81% | 2025-12-31 |
| META | 30.08% | 2025-12-31 |
| NFLX | 24.30% | 2025-12-31 |
| VZ | 12.43% | 2025-12-31 |
| DIS | 13.14% | 2025-09-27 |
| TMUS | 12.45% | 2025-12-31 |
| T | 17.47% | 2025-12-31 |
| CMCSA | 16.17% | 2025-12-31 |
Sources & dates
- GOOGL · period 2025-12-31 ↗Source date 2026-02-05
- META · period 2025-12-31 ↗Source date 2026-01-29
- NFLX · period 2025-12-31 ↗Source date 2026-01-23
- VZ · period 2025-12-31 ↗Source date 2026-02-17
- DIS · period 2025-09-27 ↗Source date 2025-11-13
- TMUS · period 2025-12-31 ↗Source date 2026-02-11
- T · period 2025-12-31 ↗Source date 2026-02-09
- CMCSA · period 2025-12-31 ↗Source date 2026-02-03