Debt to Equity
since 2005
Calculation
Comcast Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt1 | ÷ | Total Comcast Corporation shareholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2024 | 1.16 | = | 99,093) | ÷ | 85,560) |
| Dec 31, 2023 | 1.17 | = | 97,090) | ÷ | 82,703) |
| Dec 31, 2022 | 1.17 | = | 94,811) | ÷ | 80,943) |
| Dec 31, 2021 | 0.99 | = | 94,850) | ÷ | 96,092) |
| Dec 31, 2020 | 1.15 | = | 103,760) | ÷ | 90,323) |
| Dec 31, 2019 | 1.24 | = | 102,217) | ÷ | 82,726) |
| Dec 31, 2018 | 1.56 | = | 111,743) | ÷ | 71,613) |
| Dec 31, 2017 | 0.94 | = | 64,556) | ÷ | 68,606) |
| Dec 31, 2016 | 1.13 | = | 61,046) | ÷ | 53,943) |
| Dec 31, 2015 | 1.01 | = | 52,621) | ÷ | 52,269) |
| Dec 31, 2014 | 0.92 | = | 48,234) | ÷ | 52,711) |
| Dec 31, 2013 | 0.94 | = | 47,847) | ÷ | 50,694) |
| Dec 31, 2012 | 0.82 | = | 40,458) | ÷ | 49,356) |
| Dec 31, 2011 | 0.83 | = | 39,309) | ÷ | 47,274) |
| Dec 31, 2010 | 0.71 | = | 31,415) | ÷ | 44,354) |
| Dec 31, 2009 | 0.68 | = | 29,096) | ÷ | 42,721) |
| Dec 31, 2008 | 0.80 | = | 32,456) | ÷ | 40,450) |
| Dec 31, 2007 | 0.76 | = | 31,323) | ÷ | 41,340) |
| Dec 31, 2006 | 0.70 | = | 28,975) | ÷ | 41,167) |
| Dec 31, 2005 | 0.58 | = | 23,371) | ÷ | 40,219) |
Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The financial data reveals significant trends in the capital structure of the entity over the examined period.
- Long-term Debt
- The long-term debt has shown a general upward trajectory from 23,371 million US dollars in 2005 to 99,093 million US dollars in 2024. There was a notable increase especially from 2017 onward, peaking at 111,743 million in 2018 before moderating slightly but remaining at elevated levels. This indicates a strategic leverage increase or financing through debt expansion over the years.
- Total Shareholders’ Equity
- The shareholders’ equity consistently increased from 40,219 million US dollars in 2005 to 85,560 million US dollars in 2024, despite some fluctuations. The equity showed steady growth through 2017 with a substantial rise that slowed after 2021, experiencing a dip in 2022 but recovering slightly in subsequent years. This suggests overall retained earnings growth and possible capital injection, though with some variability in recent years.
- Debt to Equity Ratio
- The debt to equity ratio moved from a conservative 0.58 in 2005, increasing steadily and crossing 1.0 in 2014, indicating that long-term debt began to surpass shareholders’ equity at that point. The ratio peaked at 1.56 in 2018, reflecting significantly higher leverage, before declining and stabilizing around 1.16 in 2024. This trend points to a higher reliance on debt financing relative to equity, with some efforts at deleveraging after 2018 but maintaining a leveraged position above 1.
Overall, the corporation has increased its leverage considerably over the past two decades. The growth in long-term debt outpaced equity growth, leading to a higher debt to equity ratio, especially from the mid-2010s onward. This elevated leverage level may increase financial risk but could also indicate strategic investments financed through debt. The recent stabilization of the debt to equity ratio suggests measured management of financial risk in the latter years.
Comparison to Competitors
Comcast Corp., debt to equity, long-term trends, comparison to competitors
| Comcast Corp. | Alphabet Inc. | Meta Platforms Inc. | Netflix Inc. | Take-Two Interactive Software Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Dec 31, 2024 | 1.16 | 0.03 | 0.16 | 0.63 | 0.54 | 0.45 |
| Dec 31, 2023 | 1.17 | 0.05 | 0.12 | 0.71 | 0.34 | 0.47 |
| Dec 31, 2022 | 1.17 | 0.06 | 0.08 | 0.69 | 0.00 | 0.51 |
| Dec 31, 2021 | 0.99 | 0.06 | 0.00 | 0.97 | 0.00 | 0.61 |
| Dec 31, 2020 | 1.15 | 0.06 | 0.00 | 1.47 | 0.00 | 0.70 |
| Dec 31, 2019 | 1.24 | 0.02 | 0.00 | 1.95 | 0.00 | 0.53 |
| Dec 31, 2018 | 1.56 | 0.02 | 0.00 | 1.98 | 0.01 | 0.43 |
| Dec 31, 2017 | 0.94 | 0.03 | 0.00 | 1.81 | 0.25 | 0.61 |
| Dec 31, 2016 | 1.13 | 0.03 | 0.00 | 1.26 | 0.86 | 0.47 |
| Dec 31, 2015 | 1.01 | 0.04 | 0.00 | 1.07 | 0.85 | 0.39 |
| Dec 31, 2014 | 0.92 | 0.05 | 0.01 | 0.48 | 0.57 | 0.33 |
| Dec 31, 2013 | 0.94 | 0.06 | 0.03 | 0.37 | 0.57 | 0.31 |
| Dec 31, 2012 | 0.82 | 0.08 | 0.20 | 0.54 | 0.53 | 0.36 |
| Dec 31, 2011 | 0.83 | 0.07 | — | 0.62 | 0.17 | 0.37 |
| Dec 31, 2010 | 0.71 | 0.07 | — | 0.69 | 0.19 | 0.33 |
| Dec 31, 2009 | 0.68 | 0.00 | — | 1.00 | 0.27 | 0.38 |
| Dec 31, 2008 | 0.80 | 0.00 | — | 0.00 | 0.11 | 0.45 |
| Dec 31, 2007 | 0.76 | 0.00 | — | 0.00 | 0.04 | 0.49 |
| Dec 31, 2006 | 0.70 | 0.00 | — | 0.00 | 0.00 | 0.43 |
| Dec 31, 2005 | 0.58 | 0.00 | — | 0.00 | 0.00 | 0.48 |
Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Media & Entertainment)
Comcast Corp., debt to equity, long-term trends, comparison to sector (media & entertainment)
| Comcast Corp. | Media & Entertainment | |
|---|---|---|
| Dec 31, 2024 | 1.16 | 0.28 |
| Dec 31, 2023 | 1.17 | 0.30 |
| Dec 31, 2022 | 1.17 | 0.31 |
| Dec 31, 2021 | 0.99 | 0.31 |
| Dec 31, 2020 | 1.15 | 0.36 |
| Dec 31, 2019 | 1.24 | 0.35 |
| Dec 31, 2018 | 1.56 | 0.38 |
| Dec 31, 2017 | 0.94 | 0.29 |
| Dec 31, 2016 | 1.13 | 0.30 |
| Dec 31, 2015 | 1.01 | 0.30 |
| Dec 31, 2014 | 0.92 | 0.29 |
| Dec 31, 2013 | 0.94 | 0.34 |
| Dec 31, 2012 | 0.82 | 0.36 |
| Dec 31, 2011 | 0.83 | 0.40 |
| Dec 31, 2010 | 0.71 | 0.37 |
| Dec 31, 2009 | 0.68 | 0.37 |
| Dec 31, 2008 | 0.80 | 0.46 |
| Dec 31, 2007 | 0.76 | 0.49 |
| Dec 31, 2006 | 0.70 | 0.47 |
| Dec 31, 2005 | 0.58 | 0.47 |
Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Communication Services)
Comcast Corp., debt to equity, long-term trends, comparison to industry (communication services)
| Comcast Corp. | Communication Services | |
|---|---|---|
| Dec 31, 2024 | 1.16 | 0.56 |
| Dec 31, 2023 | 1.17 | 0.61 |
| Dec 31, 2022 | 1.17 | 0.65 |
| Dec 31, 2021 | 0.99 | 0.65 |
| Dec 31, 2020 | 1.15 | 0.66 |
| Dec 31, 2019 | 1.24 | 0.62 |
| Dec 31, 2018 | 1.56 | 0.71 |
| Dec 31, 2017 | 0.94 | 0.75 |
| Dec 31, 2016 | 1.13 | 0.75 |
| Dec 31, 2015 | 1.01 | 0.81 |
| Dec 31, 2014 | 0.92 | 0.81 |
| Dec 31, 2013 | 0.94 | 0.75 |
| Dec 31, 2012 | 0.82 | 0.62 |
| Dec 31, 2011 | 0.83 | 0.62 |
| Dec 31, 2010 | 0.71 | 0.60 |
| Dec 31, 2009 | 0.68 | 0.69 |
| Dec 31, 2008 | 0.80 | 0.73 |
| Dec 31, 2007 | 0.76 | 0.54 |
| Dec 31, 2006 | 0.70 | 0.54 |
| Dec 31, 2005 | 0.58 | 0.62 |
Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).