Comcast Corp. (NASDAQ:CMCSA)

The annual financial data reveals several notable trends regarding Comcast Corp.'s revenues, operating income, and net income attributable to the company over the span from 2005 to 2024.

Revenue

The revenue shows a consistent upward trend throughout the years, increasing from approximately $22.3 billion in 2005 to an estimated $123.7 billion in 2024. This represents a more than fivefold increase over the period. Noteworthy is the significant jump between 2009 and 2011, where revenue rose from about $35.8 billion to $55.8 billion, suggesting notable business expansion or acquisitions. Subsequent years maintain steady growth, albeit at a moderated pace. The increase appears relatively smooth without major declines, indicating overall robust and stable top-line growth.

Operating Income

Operating income grows from $3.7 billion in 2005 to approximately $23.3 billion projected for 2024. This indicates a strong increase in operational profitability, generally following the revenue trend. However, there is a visible dip in 2016 and 2017, where operating income declined from $21.1 billion in 2015 to about $14 billion in 2017 before rebounding significantly by 2018. Additionally, a notable drop occurs in 2022 to $14 billion after a peak in 2021 of over $20 billion, but this rebounds again in 2023 and remains stable in 2024. These fluctuations may indicate periods of increased operational costs, restructuring, or other temporary factors impacting efficiency.

Net Income Attributable to Comcast Corporation

Net income attributable to Comcast displays more volatility than revenue and operating income. Starting from $0.9 billion in 2005, net income generally increases with some notable exceptions. There is a substantial spike in 2017, reaching $22.7 billion, which notably exceeds the operating income gains and may suggest extraordinary items such as asset sales, tax benefits, or other non-operating income. This spike is followed by a sharp decline to $11.7 billion in 2018 and fluctuates thereafter, including a significant drop in 2022 to $5.4 billion. The net income then recovers in 2023 and 2024 to levels around $15-16 billion, which, despite fluctuations, remains well above early years. Overall, the variation suggests the presence of extraordinary gains or losses impacting net income apart from core business operations.

In summary, the data illustrates strong and consistent revenue growth, with operating income broadly tracking this positive trend but with notable dips suggesting temporary challenges or strategic investments. Net income shows higher volatility, reflecting the impact of extraordinary or non-operational items. The trend analysis highlights the company’s ability to grow its core business over the long term while managing fluctuations in profitability components.

The analysis of the annual financial data reveals distinct trends and fluctuations in the company's current assets and total assets over the observed period.

Current Assets

Current assets demonstrate significant volatility throughout the years. Starting at $2,594 million in 2005, the figure showed an initial rise to $5,202 million in 2006, followed by a decline and relative stagnation around the $3,000 to $4,000 million range until 2009. A notable increase occurred in 2010, reaching $8,886 million. From 2011 onwards, current assets experienced considerable growth with pronounced fluctuations, peaking in 2012 at $19,991 million, before declining again in the subsequent years. After another period of growth, current assets reached $26,801 million in 2024, reflecting an overall increasing trend over the long term, albeit with intermittent decreases.

Total Assets

Total assets presented a general upward trend throughout the entire period. Starting at $103,146 million in 2005, total assets increased steadily with minor fluctuations, crossing the $110,000 million threshold in 2006 and maintaining consistent growth until 2011. A marked jump occurred in 2012 to approximately $165,000 million, with a slight dip in the following year. From 2014 onwards, total assets again showed a robust upward trajectory, peaking at $275,905 million in 2021. Subsequent years saw a decrease in 2022 to $257,275 million, followed by a partial recovery to $266,211 million by 2024. Overall, total assets doubled over the two decades, indicating sustained growth in the company's asset base despite some periodic contractions.

The analysis of the annual financial data reveals several notable trends in the company's liabilities and equity positions over the observed period.

Current Liabilities

The current liabilities exhibit a generally increasing trend from 6,269 million USD in 2005 to a peak of 40,198 million USD in 2023, with a slight decrease to 39,581 million USD in 2024. There are fluctuations throughout the years, with significant rises particularly from 2010 onwards, indicating growing short-term obligations.

Long-term Debt

Long-term debt demonstrates a consistent upward trajectory over the period, increasing from 23,371 million USD in 2005 to 99,093 million USD in 2024. The debt level rises steadily with some acceleration around 2013 to 2014 and again in 2017 to 2018, suggesting increased borrowing possibly to finance expansion or acquisitions. Despite minor fluctuations, the overall increase in long-term debt signals a significant rise in leverage.

Total Shareholders' Equity

Shareholders' equity generally trends upward from 40,219 million USD in 2005 to 96,092 million USD in 2021, marking a substantial growth reflecting reinvested earnings and possible capital contributions. However, there is a noticeable decline starting in 2022 to 80,943 million USD, followed by a modest recovery projecting to 85,560 million USD by 2024. This decrease could indicate share buybacks, dividend payments exceeding net income, or other equity adjustments.

Overall, the data indicate that the company has substantially increased both its current liabilities and long-term debt over the years, pointing to increased financial obligations and leverage. Concurrently, while equity generally rose, recent declines suggest a change in capital structure or shareholder returns strategy. The combination of rising debt and fluctuating equity levels warrants careful monitoring of financial risk and capital management moving forward.

Operating Activities Cash Flow

There is a generally increasing trend in net cash provided by operating activities from 2005 through 2024. Starting at 4,922 million USD in 2005, the cash flow shows consistent growth with some fluctuations, reaching a peak near 29,146 million USD in 2021, followed by slight variability but maintaining a high level above 26,000 million USD in the subsequent years. This indicates sustained operational strength and cash generation capacity.

Investing Activities Cash Flow

Net cash used in investing activities consistently remains negative throughout the period, signifying ongoing investments or asset acquisitions. The outflows have generally fluctuated but show some large spikes, particularly notable in 2018 where the outflow reaches an extreme of -50,854 million USD. Aside from such spikes, the typical range varies mostly between -5,897 million and -18,385 million USD. The large variation indicates episodes of significant capital expenditure or investment transactions.

Financing Activities Cash Flow

Cash flows from financing activities exhibit volatility over the period. Several years record substantial inflows (positive values), such as 3,546 million USD in 2006 and a prominent spike to 27,140 million USD in 2018, while other years show considerable outflows, with amounts reaching as low as -19,850 million USD in 2022. The pattern suggests an active and variable financing strategy, including periods of debt issuance, repayment, or equity transactions.

Overall Observations

The company demonstrates a strong and increasing ability to generate cash from its core operations, supporting liquidity and potentially enabling reinvestment or debt servicing. The substantial and persistent investing outflows suggest ongoing growth or asset improvement initiatives, albeit sometimes accompanied by large and irregular investment activities. Financing cash flows are notably erratic, likely reflecting strategic financial management decisions responsive to market conditions or capital needs. The interplay of these cash flows reflects a dynamic approach to funding operations and strategic investments over the years.

Basic Earnings Per Share (EPS)

The basic earnings per share have exhibited an overall upward trend from 2005 to 2024. Starting at $0.14 in 2005, the EPS gradually increased, with some fluctuations, reaching $1.81 by 2016. Notably, there was a significant jump to $4.82 in 2017, followed by a decline to $2.56 in 2018. Afterward, EPS oscillated between $2.3 and $3.09 up to 2021, dipped to $1.22 in 2022, then rose sharply again, closing at $4.17 in 2024. This indicates periods of both strong growth and some volatility in earnings per share.

Diluted Earnings Per Share

The diluted earnings per share closely mirror the trend observed in basic EPS, starting at $0.14 in 2005 and increasing steadily to $1.79 by 2016. There is a similar pronounced increase to $4.75 in 2017 followed by a decline and fluctuations between $2.28 and $3.04 until 2021. A drop to $1.21 occurred in 2022, succeeded by a rapid recovery to $4.14 by 2024. The similarity between basic and diluted EPS suggests stable dilution effects and consistent earnings growth patterns.

Dividend Per Share

Dividend per share data starts from 2008, initially at $0.13. Since then, dividends have shown a steady and consistent upward trajectory each year, increasing from $0.13 in 2008 to $1.24 in 2024. This demonstrates a strong commitment to returning value to shareholders through dividends, with dividends growing at a relatively stable pace over the 16-year span.