Stock Analysis on Net

Comcast Corp. (NASDAQ:CMCSA)

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Common-Size Balance Sheet: Assets

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Comcast Corp., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Cash and cash equivalents
Receivables, net
Other current assets
Current assets
Film and television costs
Investments
Property and equipment, net
Goodwill
Franchise rights
Other intangible assets, net
Intangible assets, net
Other noncurrent assets, net
Noncurrent assets
Total assets

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).


The composition of assets at the company exhibits several notable shifts between 2021 and 2025. Current assets as a percentage of total assets generally increased over the period, while the proportion represented by intangible assets decreased. Property and equipment consistently grew as a percentage of the asset base, while goodwill experienced a more fluctuating pattern.

Liquidity and Current Assets
Current assets initially decreased from 8.99% of total assets in 2021 to 8.48% in 2022, before steadily increasing to 10.85% in 2025. This rise is driven by increases in cash and cash equivalents, other current assets, and to a lesser extent, receivables. Cash and cash equivalents show a particularly strong increase, moving from 3.16% to 3.48% of total assets. Receivables remained relatively stable, fluctuating between 4.35% and 5.22% throughout the period.
Long-Term Investments and Fixed Assets
Investments experienced a slight decrease from 3.15% to 2.92% of total assets over the five-year period, with some fluctuation in between. Property and equipment, net, demonstrated a consistent upward trend, increasing from 19.59% in 2021 to 24.09% in 2025. This suggests a continued investment in fixed assets.
Intangible Assets
Intangible assets, net, decreased as a proportion of total assets from 33.69% in 2021 to 30.02% in 2025. This decline is primarily attributable to a reduction in other intangible assets, net, which fell from 12.17% to 8.24%. Goodwill also experienced a decrease, moving from 25.44% to 22.56%, although it showed some volatility. Franchise rights remained relatively stable, fluctuating between 21.52% and 23.07%.
Noncurrent Assets
Noncurrent assets constituted the vast majority of the asset base throughout the period, consistently representing over 90% of total assets. While remaining high, the percentage of total assets held in noncurrent assets decreased slightly from 91.01% in 2021 to 89.15% in 2025. Other noncurrent assets, net, increased from 4.50% to 5.09% over the same period.

Overall, the asset allocation shifted towards more liquid assets and tangible fixed assets, while the proportion of intangible assets decreased. This suggests a potential strategic move towards more concrete, operational assets and increased financial flexibility.