Coaxial cable preparation tools. In one example embodiment, a coaxial cable preparation tool is configured for use in preparing a coaxial cable for termination. The coaxial cable includes an inner conductor, an insulating layer surrounding the inner conductor, and an outer conductor surrounding the insulating layer. The tool includes a body. The body includes an insertion portion configured to be inserted between the outer conductor and inner conductor where a section of the insulating layer has been cored out. The body also includes an opening defined in the insertion portion and configured to receive the inner conductor. The body further includes means for increasing the diameter of the outer conductor that surrounds the cored-out section.