Stock Analysis on Net
Stock Analysis on Net

Comcast Corp. (NASDAQ:CMCSA)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Comcast Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Accounts payable and accrued expenses related to trade creditors 4.61 4.06 4.28 4.32 4.31 4.25 4.36 4.47 4.47 4.70 4.68 4.66 4.69 4.88 4.81 4.61 4.64 4.51 4.34 4.21 4.00
Deferred revenue 1.54 1.50 1.55 1.47 1.41 1.32 1.40 1.50 1.31 1.22 1.37 1.27 1.03 0.93 1.08 1.04 1.10 1.10 1.12 1.29 1.21
Accrued expenses and other current liabilities 4.59 4.55 4.01 3.73 4.11 4.01 3.87 3.61 5.09 5.02 4.04 3.70 4.35 4.36 4.31 3.90 4.31 4.25 3.95 3.85 4.13
Current portion of debt 2.07 2.19 2.14 2.09 2.56 1.84 0.97 0.39 0.95 0.78 1.14 0.96 0.44 0.68 0.80 0.78 0.77 0.77 0.25 1.23 1.72
Advance on sale of investment 0.00 0.00 0.00 0.00 3.42 3.44 3.40 3.49 3.48 3.46 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Collateralized obligation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.98 1.97 1.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current liabilities 12.81% 12.30% 11.98% 11.61% 15.81% 14.87% 14.00% 13.46% 15.30% 15.18% 13.20% 12.56% 12.49% 10.84% 11.01% 10.33% 10.82% 10.64% 9.65% 10.58% 11.06%
Noncurrent portion of debt 34.31 34.10 34.14 34.99 34.46 35.38 36.59 36.99 35.69 35.88 36.14 36.23 36.39 36.17 35.55 34.25 33.73 33.61 34.84 34.36 35.52
Collateralized obligation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.01 2.03 1.94 1.89 1.87 1.87 1.87 1.86
Deferred income taxes 10.86 10.19 10.39 10.11 9.39 9.48 9.73 10.00 9.86 9.82 11.14 11.08 11.10 11.16 11.44 11.04 10.89 10.89 10.85 10.66 10.15
Other noncurrent liabilities 7.96 7.69 7.73 7.70 7.74 7.87 7.61 7.58 7.56 7.60 7.57 7.74 7.85 7.93 7.98 7.58 7.46 7.47 7.49 7.50 7.43
Noncurrent liabilities 53.14% 51.99% 52.26% 52.80% 51.59% 52.72% 53.93% 54.57% 53.10% 53.30% 54.85% 55.05% 55.34% 57.27% 57.00% 54.82% 53.97% 53.84% 55.04% 54.38% 54.95%
Total liabilities 65.95% 64.28% 64.24% 64.41% 67.40% 67.59% 67.93% 68.03% 68.40% 68.48% 68.06% 67.61% 67.83% 68.11% 68.01% 65.15% 64.79% 64.48% 64.69% 64.97% 66.02%
Redeemable noncontrolling interests 0.08 0.08 0.08 0.08 0.09 0.09 0.08 0.09 0.09 0.09 0.09 0.09 0.16 0.16 0.16 0.19 0.19 0.19 0.19 0.19 0.20
Preferred stock; issued, zero 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Class A common stock, $0.01 par value 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
Class B common stock, $0.01 par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 14.44 13.83 13.83 13.80 14.13 14.31 14.14 14.55 14.52 14.55 14.89 14.92 15.13 15.32 15.64 14.92 14.57 14.56 14.49 14.46 14.27
Retained earnings 22.54 24.46 24.50 24.10 21.46 21.40 20.42 20.68 20.27 19.97 20.59 20.56 20.25 20.06 20.66 22.92 22.46 22.44 22.30 21.79 20.94
Treasury stock -2.89 -2.76 -2.75 -2.74 -2.81 -2.82 -2.79 -2.86 -2.85 -2.84 -2.88 -2.87 -2.90 -2.92 -2.96 -2.82 -2.74 -2.72 -2.71 -2.71 -2.70
Accumulated other comprehensive income (loss) -0.15 0.00 -0.03 0.19 -0.45 -0.77 0.00 -0.69 -0.64 -0.47 -0.97 -0.55 -0.73 -1.01 -1.79 -0.81 0.25 0.54 0.48 0.72 0.71
Total Comcast Corporation shareholders’ equity 33.95% 35.54% 35.56% 35.37% 32.36% 32.14% 31.78% 31.70% 31.32% 31.23% 31.65% 32.09% 31.77% 31.46% 31.57% 34.24% 34.55% 34.83% 34.57% 34.27% 33.24%
Noncontrolling interests 0.02 0.09 0.12 0.14 0.16 0.18 0.20 0.18 0.19 0.20 0.21 0.21 0.24 0.27 0.25 0.42 0.47 0.51 0.55 0.57 0.55
Total equity 33.97% 35.63% 35.68% 35.50% 32.51% 32.32% 31.98% 31.88% 31.51% 31.43% 31.85% 32.30% 32.01% 31.73% 31.82% 34.66% 35.02% 35.33% 35.12% 34.84% 33.79%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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 capital structure exhibits a consistent reliance on debt financing, with total liabilities generally fluctuating between 64% and 68% of total liabilities and equity throughout the observed period. A period of increased leverage was noted between late 2022 and late 2023, where total liabilities peaked at 68.48% in December 2023, before moderating to approximately 64% in mid-2025.

Liability Composition and Trends
Noncurrent liabilities constitute the primary portion of the company's obligations, typically ranging from 51% to 57%. The noncurrent portion of debt is the dominant driver within this category, remaining relatively stable between 33% and 37%. Current liabilities showed significant volatility, remaining around 10% to 12% for several years before spiking to a peak of 15.81% in December 2024, primarily driven by a rise in the current portion of debt and accrued expenses.
Debt Maturity Profile
A notable shift in the debt profile occurred starting in late 2024. The current portion of debt, which previously remained below 1% for much of the 2021–2023 period, rose sharply to 1.84% in December 2024 and reached 2.07% by March 2026. This suggests a trend of increasing short-term debt obligations or upcoming maturities that will require refinancing or repayment.
Equity Evolution
Total equity has fluctuated between 31% and 36%. A contraction in equity was observed in 2022, reaching a low of 31.73% in December 2022, followed by a recovery that peaked at 35.68% in September 2025. This recovery was largely supported by an increase in retained earnings, which grew from 20.94% in March 2021 to a peak of 24.50% in September 2025, indicating a period of strong profit accumulation. Treasury stock remained a consistent negative offset to equity, hovering between -2.7% and -2.9%, reflecting ongoing share repurchase activity.
Other Financial Obligations
Deferred income taxes remained a stable component of the balance sheet, generally oscillating between 9% and 11%. An "advance on sale of investment" appeared as a significant current liability starting in December 2023, maintaining a presence at approximately 3.4% of total liabilities and equity through March 2025 before being removed from the reporting in subsequent quarters.

Overall, the financial position is characterized by a stable long-term debt load balanced by growing retained earnings, though the recent increase in the current portion of debt indicates a heightened requirement for short-term liquidity management moving into 2026.

AI Ask an analyst for more