Stock Analysis on Net

Comcast Corp. (NASDAQ:CMCSA)

Analysis of Solvency Ratios 

Microsoft Excel LibreOffice Calc

Solvency Ratios (Summary)

Comcast Corp., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Debt Ratios
Debt to equity 0.99 1.15 1.24 1.56 0.94
Debt to equity (including operating lease liability) 1.06 1.20 1.29 1.56 0.94
Debt to capital 0.50 0.53 0.55 0.61 0.48
Debt to capital (including operating lease liability) 0.52 0.55 0.56 0.61 0.48
Debt to assets 0.34 0.38 0.39 0.44 0.35
Debt to assets (including operating lease liability) 0.37 0.40 0.41 0.44 0.35
Financial leverage 2.87 3.03 3.18 3.51 2.72
Coverage Ratios
Interest coverage 5.46 4.07 4.72 5.30 5.97
Fixed charge coverage 4.48 3.47 4.00 4.53 4.90

Based on: 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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Comcast Corp. debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Comcast Corp. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Comcast Corp. debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Comcast Corp. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Comcast Corp. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Comcast Corp. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Comcast Corp. financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Comcast Corp. interest coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Comcast Corp. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Debt to Equity

Comcast Corp., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current portion of long-term debt 2,132  3,146  4,452  4,398  5,134 
Long-term debt, less current portion 92,718  100,614  97,765  107,345  59,422 
Total debt 94,850  103,760  102,217  111,743  64,556 
 
Total Comcast Corporation shareholders’ equity 96,092  90,323  82,726  71,613  68,606 
Solvency Ratio
Debt to equity1 0.99 1.15 1.24 1.56 0.94
Benchmarks
Debt to Equity, Competitors2
Alphabet Inc. 0.06 0.07 0.02 0.02 0.03
Charter Communications Inc. 6.52 3.48 2.51 2.01 1.80
Meta Platforms Inc. 0.00 0.00 0.00 0.00 0.00
Netflix Inc. 0.97 1.47 1.95 1.98 1.81
Twitter Inc. 0.58 0.44 0.29 0.40 0.36
Walt Disney Co. 0.62 0.71 0.53 0.43 0.62
Debt to Equity, Sector
Media & Entertainment 0.46 0.49 0.48 0.52 0.45
Debt to Equity, Industry
Communication Services 0.74 0.74 0.69 0.78 0.82

Based on: 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).

1 2021 Calculation
Debt to equity = Total debt ÷ Total Comcast Corporation shareholders’ equity
= 94,850 ÷ 96,092 = 0.99

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Comcast Corp. debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Equity (including Operating Lease Liability)

Comcast Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current portion of long-term debt 2,132  3,146  4,452  4,398  5,134 
Long-term debt, less current portion 92,718  100,614  97,765  107,345  59,422 
Total debt 94,850  103,760  102,217  111,743  64,556 
Current operating lease liability (included in Accrued expenses and other current liabilities) 766  718  715  —  — 
Noncurrent operating lease liability (included in Other noncurrent liabilities) 6,473  3,740  3,891  —  — 
Total debt (including operating lease liability) 102,089  108,218  106,823  111,743  64,556 
 
Total Comcast Corporation shareholders’ equity 96,092  90,323  82,726  71,613  68,606 
Solvency Ratio
Debt to equity (including operating lease liability)1 1.06 1.20 1.29 1.56 0.94
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Alphabet Inc. 0.11 0.13 0.08 0.02 0.03
Charter Communications Inc. 6.62 3.53 2.55 2.01 1.80
Meta Platforms Inc. 0.12 0.09 0.11 0.00 0.00
Netflix Inc. 1.14 1.67 2.16 1.98 1.81
Twitter Inc. 0.76 0.56 0.38 0.40 0.36
Walt Disney Co. 0.66 0.75 0.53 0.43 0.62
Debt to Equity (including Operating Lease Liability), Sector
Media & Entertainment 0.53 0.56 0.54 0.52 0.45
Debt to Equity (including Operating Lease Liability), Industry
Communication Services 0.88 0.87 0.81 0.78 0.82

Based on: 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).

1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Comcast Corporation shareholders’ equity
= 102,089 ÷ 96,092 = 1.06

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Comcast Corp. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Debt to Capital

Comcast Corp., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current portion of long-term debt 2,132  3,146  4,452  4,398  5,134 
Long-term debt, less current portion 92,718  100,614  97,765  107,345  59,422 
Total debt 94,850  103,760  102,217  111,743  64,556 
Total Comcast Corporation shareholders’ equity 96,092  90,323  82,726  71,613  68,606 
Total capital 190,942  194,083  184,943  183,356  133,162 
Solvency Ratio
Debt to capital1 0.50 0.53 0.55 0.61 0.48
Benchmarks
Debt to Capital, Competitors2
Alphabet Inc. 0.06 0.06 0.02 0.02 0.03
Charter Communications Inc. 0.87 0.78 0.72 0.67 0.64
Meta Platforms Inc. 0.00 0.00 0.00 0.00 0.00
Netflix Inc. 0.49 0.60 0.66 0.66 0.64
Twitter Inc. 0.37 0.30 0.23 0.29 0.26
Walt Disney Co. 0.38 0.41 0.35 0.30 0.38
Debt to Capital, Sector
Media & Entertainment 0.32 0.33 0.32 0.34 0.31
Debt to Capital, Industry
Communication Services 0.43 0.43 0.41 0.44 0.45

Based on: 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).

1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 94,850 ÷ 190,942 = 0.50

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Comcast Corp. debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Capital (including Operating Lease Liability)

Comcast Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current portion of long-term debt 2,132  3,146  4,452  4,398  5,134 
Long-term debt, less current portion 92,718  100,614  97,765  107,345  59,422 
Total debt 94,850  103,760  102,217  111,743  64,556 
Current operating lease liability (included in Accrued expenses and other current liabilities) 766  718  715  —  — 
Noncurrent operating lease liability (included in Other noncurrent liabilities) 6,473  3,740  3,891  —  — 
Total debt (including operating lease liability) 102,089  108,218  106,823  111,743  64,556 
Total Comcast Corporation shareholders’ equity 96,092  90,323  82,726  71,613  68,606 
Total capital (including operating lease liability) 198,181  198,541  189,549  183,356  133,162 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.52 0.55 0.56 0.61 0.48
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Alphabet Inc. 0.10 0.11 0.07 0.02 0.03
Charter Communications Inc. 0.87 0.78 0.72 0.67 0.64
Meta Platforms Inc. 0.10 0.08 0.10 0.00 0.00
Netflix Inc. 0.53 0.63 0.68 0.66 0.64
Twitter Inc. 0.43 0.36 0.27 0.29 0.26
Walt Disney Co. 0.40 0.43 0.35 0.30 0.38
Debt to Capital (including Operating Lease Liability), Sector
Media & Entertainment 0.35 0.36 0.35 0.34 0.31
Debt to Capital (including Operating Lease Liability), Industry
Communication Services 0.47 0.47 0.45 0.44 0.45

Based on: 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).

1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 102,089 ÷ 198,181 = 0.52

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Comcast Corp. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Debt to Assets

Comcast Corp., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current portion of long-term debt 2,132  3,146  4,452  4,398  5,134 
Long-term debt, less current portion 92,718  100,614  97,765  107,345  59,422 
Total debt 94,850  103,760  102,217  111,743  64,556 
 
Total assets 275,905  273,869  263,414  251,684  186,949 
Solvency Ratio
Debt to assets1 0.34 0.38 0.39 0.44 0.35
Benchmarks
Debt to Assets, Competitors2
Alphabet Inc. 0.04 0.05 0.02 0.02 0.02
Charter Communications Inc. 0.64 0.57 0.53 0.50 0.48
Meta Platforms Inc. 0.00 0.00 0.00 0.00 0.00
Netflix Inc. 0.35 0.42 0.43 0.40 0.34
Twitter Inc. 0.30 0.26 0.20 0.27 0.24
Walt Disney Co. 0.27 0.29 0.24 0.21 0.27
Debt to Assets, Sector
Media & Entertainment 0.23 0.24 0.24 0.26 0.23
Debt to Assets, Industry
Communication Services 0.29 0.29 0.28 0.31 0.32

Based on: 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).

1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 94,850 ÷ 275,905 = 0.34

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Comcast Corp. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Assets (including Operating Lease Liability)

Comcast Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current portion of long-term debt 2,132  3,146  4,452  4,398  5,134 
Long-term debt, less current portion 92,718  100,614  97,765  107,345  59,422 
Total debt 94,850  103,760  102,217  111,743  64,556 
Current operating lease liability (included in Accrued expenses and other current liabilities) 766  718  715  —  — 
Noncurrent operating lease liability (included in Other noncurrent liabilities) 6,473  3,740  3,891  —  — 
Total debt (including operating lease liability) 102,089  108,218  106,823  111,743  64,556 
 
Total assets 275,905  273,869  263,414  251,684  186,949 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.37 0.40 0.41 0.44 0.35
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Alphabet Inc. 0.08 0.09 0.06 0.02 0.02
Charter Communications Inc. 0.65 0.58 0.54 0.50 0.48
Meta Platforms Inc. 0.09 0.07 0.08 0.00 0.00
Netflix Inc. 0.41 0.47 0.48 0.40 0.34
Twitter Inc. 0.39 0.34 0.26 0.27 0.24
Walt Disney Co. 0.29 0.31 0.24 0.21 0.27
Debt to Assets (including Operating Lease Liability), Sector
Media & Entertainment 0.27 0.28 0.26 0.26 0.23
Debt to Assets (including Operating Lease Liability), Industry
Communication Services 0.35 0.34 0.32 0.31 0.32

Based on: 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).

1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 102,089 ÷ 275,905 = 0.37

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Comcast Corp. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Financial Leverage

Comcast Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Total assets 275,905  273,869  263,414  251,684  186,949 
Total Comcast Corporation shareholders’ equity 96,092  90,323  82,726  71,613  68,606 
Solvency Ratio
Financial leverage1 2.87 3.03 3.18 3.51 2.72
Benchmarks
Financial Leverage, Competitors2
Alphabet Inc. 1.43 1.44 1.37 1.31 1.29
Charter Communications Inc. 10.14 6.06 4.71 4.03 3.75
Meta Platforms Inc. 1.33 1.24 1.32 1.16 1.14
Netflix Inc. 2.81 3.55 4.48 4.96 5.31
Twitter Inc. 1.92 1.68 1.46 1.49 1.47
Walt Disney Co. 2.30 2.41 2.18 2.02 2.32
Financial Leverage, Sector
Media & Entertainment 2.02 2.03 2.03 2.00 1.92
Financial Leverage, Industry
Communication Services 2.55 2.54 2.50 2.50 2.55

Based on: 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).

1 2021 Calculation
Financial leverage = Total assets ÷ Total Comcast Corporation shareholders’ equity
= 275,905 ÷ 96,092 = 2.87

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Comcast Corp. financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.

Interest Coverage

Comcast Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net income attributable to Comcast Corporation 14,159  10,534  13,057  11,731  22,714 
Add: Net income attributable to noncontrolling interest (326) 167  266  131  186 
Add: Income tax expense 5,260  3,364  3,673  3,380  (7,578)
Add: Interest expense 4,281  4,588  4,567  3,542  3,086 
Earnings before interest and tax (EBIT) 23,374  18,653  21,563  18,784  18,408 
Solvency Ratio
Interest coverage1 5.46 4.07 4.72 5.30 5.97
Benchmarks
Interest Coverage, Competitors2
Alphabet Inc. 263.24 357.16 397.25 307.25 250.48
Charter Communications Inc. 2.58 2.12 1.64 1.48 1.33
Meta Platforms Inc. 3,153.27 2,371.00 1,241.60 2,818.89 3,433.33
Netflix Inc. 8.63 5.17 4.29 3.92 3.04
Twitter Inc. -7.03 0.67 3.82 4.19 0.09
Walt Disney Co. 2.66 -0.06 12.19 22.60 28.20
Interest Coverage, Sector
Media & Entertainment 16.53 10.06 10.55 12.09 11.97
Interest Coverage, Industry
Communication Services 10.33 5.82 6.89 7.29 6.91

Based on: 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).

1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= 23,374 ÷ 4,281 = 5.46

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Comcast Corp. interest coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Fixed Charge Coverage

Comcast Corp., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net income attributable to Comcast Corporation 14,159  10,534  13,057  11,731  22,714 
Add: Net income attributable to noncontrolling interest (326) 167  266  131  186 
Add: Income tax expense 5,260  3,364  3,673  3,380  (7,578)
Add: Interest expense 4,281  4,588  4,567  3,542  3,086 
Earnings before interest and tax (EBIT) 23,374  18,653  21,563  18,784  18,408 
Add: Operating lease expenses 1,200  1,100  1,100  779  839 
Earnings before fixed charges and tax 24,574  19,753  22,663  19,563  19,247 
 
Interest expense 4,281  4,588  4,567  3,542  3,086 
Operating lease expenses 1,200  1,100  1,100  779  839 
Fixed charges 5,481  5,688  5,667  4,321  3,925 
Solvency Ratio
Fixed charge coverage1 4.48 3.47 4.00 4.53 4.90
Benchmarks
Fixed Charge Coverage, Competitors2
Alphabet Inc. 25.06 16.92 17.10 25.69 23.49
Charter Communications Inc. 2.42 2.00 1.58 1.43 1.30
Meta Platforms Inc. 31.41 24.62 22.41 40.75 56.81
Netflix Inc. 5.46 3.65 2.92 3.33 2.55
Twitter Inc. -0.34 0.86 2.25 2.56 0.57
Walt Disney Co. 2.07 0.32 6.94 10.14 11.03
Fixed Charge Coverage, Sector
Media & Entertainment 9.88 6.46 6.81 8.37 8.23
Fixed Charge Coverage, Industry
Communication Services 5.59 3.56 4.28 4.62 4.32

Based on: 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).

1 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 24,574 ÷ 5,481 = 4.48

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Comcast Corp. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.