Common-Size Income Statement
Quarterly Data
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- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Comcast Corp., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The financial performance over the analyzed period demonstrates a generally stable operational structure, though net margins are subject to significant volatility driven by non-recurring items. Gross profit margins typically fluctuate between 65% and 75%, reflecting a consistent ability to manage primary production and programming costs relative to revenue.
- Direct Cost and Gross Margin Trends
- Programming and production costs represent the most significant variable expense, generally ranging between 25% and 35% of revenue. A notable period of efficiency occurred in mid-2025, where these costs dropped to 24.99%, contributing to a peak gross profit margin of 75.01% in June 2025. However, a subsequent increase to 34.60% by March 2026 suggests a return to higher cost structures or shifting production requirements.
- Operating Expense Analysis
- Other operating and administrative expenses show a gradual upward trend as a percentage of revenue, rising from approximately 30% in 2021 to peaks of 36.83% by late 2025. Marketing and promotion expenses remain relatively contained, consistently hovering between 6% and 7.5% of revenue. Depreciation and amortization costs remain stable, collectively consuming approximately 11% to 13% of total revenue throughout the period.
- Operational Volatility and Impairments
- Operating income typically ranges from 10% to 22% of revenue. A significant deviation occurred in September 2022, where operating income fell to -8.13% due to a substantial goodwill and long-lived asset impairment charge of 28.75% of revenue. Outside of this event, operational profitability has remained positive, though a slight contraction is observed toward the end of the period, with margins settling around 13% in early 2026.
- Non-Operating Items and Net Income
- Interest expenses are remarkably consistent, representing roughly 3.2% to 3.8% of revenue. The most extreme variance in net profitability is observed in June 2025, where net income attributable to the corporation surged to 36.69%. This spike was driven by a non-recurring investment and other income gain of 32.20% of revenue. Excluding this anomaly and the 2022 impairment, net income margins generally trended from the 10-13% range in 2021-2023 toward a lower baseline of approximately 6-7% in late 2025 and early 2026.