Stock Analysis on Net

Comcast Corp. (NASDAQ:CMCSA)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Comcast Corp., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 2.04 2.19 2.15 1.99 2.25
Net fixed asset turnover (including operating lease, right-of-use asset) 1.86 1.98 1.92 1.86 2.08
Total asset turnover 0.46 0.47 0.42 0.38 0.41
Equity turnover 1.47 1.50 1.21 1.15 1.32

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Comcast Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Comcast Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Comcast Corp. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Comcast Corp. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Net Fixed Asset Turnover

Comcast Corp., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenue 121,572 121,427 116,385 103,564 108,942
Property and equipment, net 59,686 55,485 54,047 51,995 48,322
Long-term Activity Ratio
Net fixed asset turnover1 2.04 2.19 2.15 1.99 2.25
Benchmarks
Net Fixed Asset Turnover, Competitors2
Alphabet Inc. 2.29 2.51 2.64 2.15 2.20
Charter Communications Inc. 1.38 1.50 1.51 1.40 1.32
Meta Platforms Inc. 1.40 1.47 2.04 1.88 2.00
Netflix Inc. 22.61 22.61 22.44 26.03 35.66
Walt Disney Co. 2.52 2.44 2.05 2.02 2.19
Net Fixed Asset Turnover, Sector
Media & Entertainment 2.02 2.16 2.30 2.04 2.13
Net Fixed Asset Turnover, Industry
Communication Services 1.66 1.71 1.87 1.70 1.77

Based on: 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).

1 2023 Calculation
Net fixed asset turnover = Revenue ÷ Property and equipment, net
= 121,572 ÷ 59,686 = 2.04

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Comcast Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Comcast Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenue 121,572 121,427 116,385 103,564 108,942
 
Property and equipment, net 59,686 55,485 54,047 51,995 48,322
Operating lease right-of-use assets (included in Other noncurrent assets, net) 5,786 5,997 6,467 3,784 4,038
Property and equipment, net (including operating lease, right-of-use asset) 65,472 61,482 60,514 55,779 52,360
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 1.86 1.98 1.92 1.86 2.08
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Alphabet Inc. 2.07 2.23 2.33 1.88 1.91
Charter Communications Inc. 1.34 1.45 1.45 1.35 1.28
Meta Platforms Inc. 1.23 1.26 1.69 1.56 1.58
Netflix Inc. 9.45 8.72 7.88 8.34 9.61
Walt Disney Co. 2.25 2.18 1.83 1.81 2.19
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Media & Entertainment 1.82 1.92 2.02 1.81 1.90
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Communication Services 1.41 1.43 1.54 1.41 1.50

Based on: 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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 121,572 ÷ 65,472 = 1.86

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Comcast Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Total Asset Turnover

Comcast Corp., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenue 121,572 121,427 116,385 103,564 108,942
Total assets 264,811 257,275 275,905 273,869 263,414
Long-term Activity Ratio
Total asset turnover1 0.46 0.47 0.42 0.38 0.41
Benchmarks
Total Asset Turnover, Competitors2
Alphabet Inc. 0.76 0.77 0.72 0.57 0.59
Charter Communications Inc. 0.37 0.37 0.36 0.33 0.31
Meta Platforms Inc. 0.59 0.63 0.71 0.54 0.53
Netflix Inc. 0.69 0.65 0.67 0.64 0.59
Walt Disney Co. 0.43 0.41 0.33 0.32 0.36
Total Asset Turnover, Sector
Media & Entertainment 0.57 0.57 0.54 0.45 0.45
Total Asset Turnover, Industry
Communication Services 0.47 0.47 0.44 0.40 0.42

Based on: 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).

1 2023 Calculation
Total asset turnover = Revenue ÷ Total assets
= 121,572 ÷ 264,811 = 0.46

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Comcast Corp. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Equity Turnover

Comcast Corp., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenue 121,572 121,427 116,385 103,564 108,942
Total Comcast Corporation shareholders’ equity 82,703 80,943 96,092 90,323 82,726
Long-term Activity Ratio
Equity turnover1 1.47 1.50 1.21 1.15 1.32
Benchmarks
Equity Turnover, Competitors2
Alphabet Inc. 1.08 1.10 1.02 0.82 0.80
Charter Communications Inc. 4.93 5.92 3.68 2.02 1.46
Meta Platforms Inc. 0.88 0.93 0.94 0.67 0.70
Netflix Inc. 1.64 1.52 1.87 2.26 2.66
Walt Disney Co. 0.90 0.87 0.76 0.78 0.78
Equity Turnover, Sector
Media & Entertainment 1.14 1.17 1.08 0.91 0.93
Equity Turnover, Industry
Communication Services 1.18 1.21 1.13 1.03 1.06

Based on: 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).

1 2023 Calculation
Equity turnover = Revenue ÷ Total Comcast Corporation shareholders’ equity
= 121,572 ÷ 82,703 = 1.47

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Comcast Corp. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.