Dual frequency comb (DFC) spectroscopy using electro-optic comb generators stands out for its flexibility, easy implementation, and low cost. Typically, two combs with different line spacing are generated from a common laser using independent electro-optic comb generators. This approach minimizes the impact of laser phase noise; however, the distinct paths followed by the two combs ultimately limit the attainable signal-to-noise ratio and long-term stability of the system. In this work, a common-path DFC is generated using a single modulator driven by an arbitrary waveform generator, thus enabling a remarkable increase of the system stability (up to 0.8 s of integration time) while maintaining high flexibility. The proposed technique is experimentally validated by implementing a dual frequency comb with 3000 lines, covering an optical bandwidth of 4.5 GHz, and demonstrating an optical-to-radiofrequency compression factor of 7500. Our system is able to measure extremely narrowband optical features (in the MHz range) with an accuracy only limited by the master laser stability.