Stock Analysis on Net
Stock Analysis on Net

Comcast Corp. (NASDAQ:CMCSA)

$24.99

Return on Equity (ROE)
since 2005

Microsoft Excel

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Calculation

Comcast Corp., ROE, long-term trends, calculation

Microsoft Excel
ROE = 100 × Net income attributable to Comcast Corporation1 ÷ Total Comcast Corporation shareholders’ equity1
Dec 31, 2024 = 100 × ÷
Dec 31, 2023 = 100 × ÷
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
Dec 31, 2018 = 100 × ÷
Dec 31, 2017 = 100 × ÷
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Dec 31, 2015 = 100 × ÷
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Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

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

Net Income Attributable to Comcast Corporation
The net income exhibits an overall upward trend from 928 million USD in 2005 to 16,192 million USD in 2024, with fluctuations across certain years. Notable increases are observed between 2016 and 2017, where net income surged from 8,695 million USD to 22,714 million USD. However, there is a decline in 2018, followed by a moderate recovery and further growth afterward. Some volatility is apparent, particularly between 2021 and 2022, where net income dropped significantly from 14,159 million USD to 5,370 million USD, and then rebounded sharply in subsequent years.
Total Comcast Corporation Shareholders’ Equity
Shareholders’ equity generally increased from 40,219 million USD in 2005 to 85,560 million USD in 2024. The growth pattern is relatively stable and shows consistent expansion over nearly two decades. A minor decline is observed in 2022, where equity decreases from 96,092 million USD in 2021 to 80,943 million USD, but this is followed by a gradual recovery in the subsequent years. The steady increase over time indicates continued reinvestment and accumulation of equity.
Return on Equity (ROE)
ROE demonstrates overall improvement with some pronounced fluctuations. It begins at 2.31% in 2005 and rises to 18.92% by 2024. A significant peak occurs in 2017, at 33.11%, which corresponds with the large increase in net income during the same period. Post-2017, ROE levels off somewhat but remains above 10%, except for a notable dip to 6.63% in 2022. This dip aligns with the decline in net income and shareholders’ equity that year, indicating reduced profitability relative to equity during that period. The following years show recovery and strengthening of profitability.
Summary of Financial Trends
Over the analyzed period, the company exhibits solid growth in net income and shareholders’ equity, suggesting expansion and value creation for shareholders. Despite periods of volatility in profitability—as seen in net income and ROE fluctuations—long-term trends are positive. The sharp rise in net income and ROE in 2017 signals a particularly successful year possibly driven by extraordinary factors or operational improvements. The downturn in 2022 requires attention, as it reflects temporary challenges impacting profitability and equity. Overall, the strengthening ROE toward the end of the period underscores enhanced efficiency in utilizing equity to generate earnings.

Comparison to Competitors

Comcast Corp., ROE, long-term trends, comparison to competitors

Microsoft Excel
Comcast Corp. Alphabet Inc. Meta Platforms Inc. Netflix Inc. Take-Two Interactive Software Inc. Walt Disney Co.
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
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Dec 31, 2006
Dec 31, 2005

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., ROE, long-term trends, comparison to sector (media & entertainment)

Microsoft Excel
Comcast Corp. Media & Entertainment
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
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Dec 31, 2012
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Dec 31, 2006
Dec 31, 2005

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., ROE, long-term trends, comparison to industry (communication services)

Microsoft Excel
Comcast Corp. Communication Services
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
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Dec 31, 2013
Dec 31, 2012
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Dec 31, 2005

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).