Stock Analysis on Net

Comcast Corp. (NASDAQ:CMCSA)

Analysis of Solvency Ratios

Microsoft Excel

Solvency Ratios (Summary)

Comcast Corp., solvency ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Debt Ratios
Debt to equity 1.16 1.17 1.17 0.99 1.15
Debt to equity (including operating lease liability) 1.23 1.25 1.26 1.06 1.20
Debt to capital 0.54 0.54 0.54 0.50 0.53
Debt to capital (including operating lease liability) 0.55 0.56 0.56 0.52 0.55
Debt to assets 0.37 0.37 0.37 0.34 0.38
Debt to assets (including operating lease liability) 0.40 0.39 0.39 0.37 0.40
Financial leverage 3.11 3.20 3.18 2.87 3.03
Coverage Ratios
Interest coverage 5.52 6.01 3.38 5.46 4.07
Fixed charge coverage 4.50 4.87 2.82 4.48 3.47

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).

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 deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
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 2022 to 2023 and from 2023 to 2024.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Comcast Corp. debt to capital ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
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 2022 to 2023 and from 2023 to 2024.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Comcast Corp. debt to assets ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
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 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Comcast Corp. financial leverage ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Comcast Corp. interest coverage ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.
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 improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

Debt to Equity

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt 4,907 2,069 1,743 2,132 3,146
Noncurrent portion of debt 94,186 95,021 93,068 92,718 100,614
Total debt 99,093 97,090 94,811 94,850 103,760
 
Total Comcast Corporation shareholders’ equity 85,560 82,703 80,943 96,092 90,323
Solvency Ratio
Debt to equity1 1.16 1.17 1.17 0.99 1.15
Benchmarks
Debt to Equity, Competitors2
Alphabet Inc. 0.05 0.05 0.06 0.06 0.07
Meta Platforms Inc. 0.16 0.12 0.08 0.00 0.00
Netflix Inc. 0.63 0.71 0.69 0.97 1.47
Walt Disney Co. 0.46 0.47 0.51 0.62 0.71
Debt to Equity, Sector
Media & Entertainment 0.29 0.30 0.32 0.31 0.36
Debt to Equity, Industry
Communication Services 0.56 0.62 0.65 0.65 0.67

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).

1 2024 Calculation
Debt to equity = Total debt ÷ Total Comcast Corporation shareholders’ equity
= 99,093 ÷ 85,560 = 1.16

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 deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Equity (including Operating Lease Liability)

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt 4,907 2,069 1,743 2,132 3,146
Noncurrent portion of debt 94,186 95,021 93,068 92,718 100,614
Total debt 99,093 97,090 94,811 94,850 103,760
Current operating lease liabilities (included in Accrued expenses and other current liabilities) 751 748 675 766 718
Noncurrent operating lease liabilities (included in Other noncurrent liabilities) 5,569 5,838 6,107 6,473 3,740
Total debt (including operating lease liability) 105,413 103,676 101,593 102,089 108,218
 
Total Comcast Corporation shareholders’ equity 85,560 82,703 80,943 96,092 90,323
Solvency Ratio
Debt to equity (including operating lease liability)1 1.23 1.25 1.26 1.06 1.20
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Alphabet Inc. 0.09 0.11 0.12 0.11 0.13
Meta Platforms Inc. 0.27 0.25 0.22 0.12 0.09
Netflix Inc. 0.73 0.82 0.81 1.14 1.67
Walt Disney Co. 0.49 0.51 0.55 0.66 0.75
Debt to Equity (including Operating Lease Liability), Sector
Media & Entertainment 0.35 0.37 0.39 0.38 0.43
Debt to Equity (including Operating Lease Liability), Industry
Communication Services 0.69 0.76 0.80 0.79 0.80

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).

1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Comcast Corporation shareholders’ equity
= 105,413 ÷ 85,560 = 1.23

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 2022 to 2023 and from 2023 to 2024.

Debt to Capital

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt 4,907 2,069 1,743 2,132 3,146
Noncurrent portion of debt 94,186 95,021 93,068 92,718 100,614
Total debt 99,093 97,090 94,811 94,850 103,760
Total Comcast Corporation shareholders’ equity 85,560 82,703 80,943 96,092 90,323
Total capital 184,653 179,793 175,754 190,942 194,083
Solvency Ratio
Debt to capital1 0.54 0.54 0.54 0.50 0.53
Benchmarks
Debt to Capital, Competitors2
Alphabet Inc. 0.05 0.05 0.06 0.06 0.06
Meta Platforms Inc. 0.14 0.11 0.08 0.00 0.00
Netflix Inc. 0.39 0.41 0.41 0.49 0.60
Walt Disney Co. 0.31 0.32 0.34 0.38 0.41
Debt to Capital, Sector
Media & Entertainment 0.22 0.23 0.24 0.24 0.27
Debt to Capital, Industry
Communication Services 0.36 0.38 0.39 0.40 0.40

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).

1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 99,093 ÷ 184,653 = 0.54

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 deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Capital (including Operating Lease Liability)

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt 4,907 2,069 1,743 2,132 3,146
Noncurrent portion of debt 94,186 95,021 93,068 92,718 100,614
Total debt 99,093 97,090 94,811 94,850 103,760
Current operating lease liabilities (included in Accrued expenses and other current liabilities) 751 748 675 766 718
Noncurrent operating lease liabilities (included in Other noncurrent liabilities) 5,569 5,838 6,107 6,473 3,740
Total debt (including operating lease liability) 105,413 103,676 101,593 102,089 108,218
Total Comcast Corporation shareholders’ equity 85,560 82,703 80,943 96,092 90,323
Total capital (including operating lease liability) 190,973 186,379 182,536 198,181 198,541
Solvency Ratio
Debt to capital (including operating lease liability)1 0.55 0.56 0.56 0.52 0.55
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Alphabet Inc. 0.09 0.10 0.10 0.10 0.11
Meta Platforms Inc. 0.21 0.20 0.18 0.10 0.08
Netflix Inc. 0.42 0.45 0.45 0.53 0.63
Walt Disney Co. 0.33 0.34 0.35 0.40 0.43
Debt to Capital (including Operating Lease Liability), Sector
Media & Entertainment 0.26 0.27 0.28 0.28 0.30
Debt to Capital (including Operating Lease Liability), Industry
Communication Services 0.41 0.43 0.44 0.44 0.44

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).

1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 105,413 ÷ 190,973 = 0.55

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 2022 to 2023 and from 2023 to 2024.

Debt to Assets

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt 4,907 2,069 1,743 2,132 3,146
Noncurrent portion of debt 94,186 95,021 93,068 92,718 100,614
Total debt 99,093 97,090 94,811 94,850 103,760
 
Total assets 266,211 264,811 257,275 275,905 273,869
Solvency Ratio
Debt to assets1 0.37 0.37 0.37 0.34 0.38
Benchmarks
Debt to Assets, Competitors2
Alphabet Inc. 0.04 0.04 0.04 0.04 0.05
Meta Platforms Inc. 0.11 0.08 0.06 0.00 0.00
Netflix Inc. 0.29 0.30 0.30 0.35 0.42
Walt Disney Co. 0.23 0.23 0.24 0.27 0.29
Debt to Assets, Sector
Media & Entertainment 0.17 0.17 0.17 0.17 0.20
Debt to Assets, Industry
Communication Services 0.25 0.26 0.27 0.27 0.27

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).

1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 99,093 ÷ 266,211 = 0.37

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 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Debt to Assets (including Operating Lease Liability)

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt 4,907 2,069 1,743 2,132 3,146
Noncurrent portion of debt 94,186 95,021 93,068 92,718 100,614
Total debt 99,093 97,090 94,811 94,850 103,760
Current operating lease liabilities (included in Accrued expenses and other current liabilities) 751 748 675 766 718
Noncurrent operating lease liabilities (included in Other noncurrent liabilities) 5,569 5,838 6,107 6,473 3,740
Total debt (including operating lease liability) 105,413 103,676 101,593 102,089 108,218
 
Total assets 266,211 264,811 257,275 275,905 273,869
Solvency Ratio
Debt to assets (including operating lease liability)1 0.40 0.39 0.39 0.37 0.40
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Alphabet Inc. 0.07 0.07 0.08 0.08 0.09
Meta Platforms Inc. 0.18 0.17 0.15 0.09 0.07
Netflix Inc. 0.34 0.35 0.35 0.41 0.47
Walt Disney Co. 0.25 0.25 0.26 0.29 0.31
Debt to Assets (including Operating Lease Liability), Sector
Media & Entertainment 0.20 0.21 0.22 0.21 0.23
Debt to Assets (including Operating Lease Liability), Industry
Communication Services 0.30 0.32 0.33 0.33 0.33

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).

1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 105,413 ÷ 266,211 = 0.40

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 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Financial Leverage

Comcast Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Total assets 266,211 264,811 257,275 275,905 273,869
Total Comcast Corporation shareholders’ equity 85,560 82,703 80,943 96,092 90,323
Solvency Ratio
Financial leverage1 3.11 3.20 3.18 2.87 3.03
Benchmarks
Financial Leverage, Competitors2
Alphabet Inc. 1.39 1.42 1.43 1.43 1.44
Meta Platforms Inc. 1.51 1.50 1.48 1.33 1.24
Netflix Inc. 2.17 2.37 2.34 2.81 3.55
Walt Disney Co. 1.95 2.07 2.14 2.30 2.41
Financial Leverage, Sector
Media & Entertainment 1.73 1.80 1.83 1.82 1.85
Financial Leverage, Industry
Communication Services 2.27 2.39 2.45 2.43 2.45

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).

1 2024 Calculation
Financial leverage = Total assets ÷ Total Comcast Corporation shareholders’ equity
= 266,211 ÷ 85,560 = 3.11

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 increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Interest Coverage

Comcast Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Net income attributable to Comcast Corporation 16,192 15,388 5,370 14,159 10,534
Add: Net income attributable to noncontrolling interest (315) (281) (445) (326) 167
Add: Income tax expense 2,796 5,371 4,359 5,260 3,364
Add: Interest expense 4,134 4,087 3,896 4,281 4,588
Earnings before interest and tax (EBIT) 22,807 24,565 13,180 23,374 18,653
Solvency Ratio
Interest coverage1 5.52 6.01 3.38 5.46 4.07
Benchmarks
Interest Coverage, Competitors2
Alphabet Inc. 448.07 279.30 200.80 263.24 357.16
Meta Platforms Inc. 99.83 107.34 164.74 3,153.27 2,371.00
Netflix Inc. 14.87 9.87 8.45 8.63 5.17
Walt Disney Co. 4.66 3.42 4.41 2.66 -0.06
Interest Coverage, Sector
Media & Entertainment 29.67 22.91 18.95 24.80 14.53
Interest Coverage, Industry
Communication Services 12.37 10.21 8.50 11.90 6.51

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).

1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= 22,807 ÷ 4,134 = 5.52

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 improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

Fixed Charge Coverage

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Net income attributable to Comcast Corporation 16,192 15,388 5,370 14,159 10,534
Add: Net income attributable to noncontrolling interest (315) (281) (445) (326) 167
Add: Income tax expense 2,796 5,371 4,359 5,260 3,364
Add: Interest expense 4,134 4,087 3,896 4,281 4,588
Earnings before interest and tax (EBIT) 22,807 24,565 13,180 23,374 18,653
Add: Operating lease expenses 1,200 1,200 1,200 1,200 1,100
Earnings before fixed charges and tax 24,007 25,765 14,380 24,574 19,753
 
Interest expense 4,134 4,087 3,896 4,281 4,588
Operating lease expenses 1,200 1,200 1,200 1,200 1,100
Fixed charges 5,334 5,287 5,096 5,481 5,688
Solvency Ratio
Fixed charge coverage1 4.50 4.87 2.82 4.48 3.47
Benchmarks
Fixed Charge Coverage, Competitors2
Alphabet Inc. 34.54 24.36 22.90 30.80 21.02
Meta Platforms Inc. 23.99 19.69 15.18 31.41 24.62
Netflix Inc. 8.20 5.64 5.00 5.46 3.65
Walt Disney Co. 3.53 2.71 3.25 2.07 0.32
Fixed Charge Coverage, Sector
Media & Entertainment 14.86 11.53 9.54 13.00 8.30
Fixed Charge Coverage, Industry
Communication Services 6.66 5.47 4.31 6.03 3.77

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).

1 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 24,007 ÷ 5,334 = 4.50

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 improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.