Stock Analysis on Net

Comcast Corp. (NASDAQ:CMCSA)

Analysis of Profitability Ratios
Quarterly Data

Microsoft Excel

Profitability Ratios (Summary)

Comcast Corp., profitability ratios (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Return on Sales
Gross profit margin 69.76% 69.96% 69.65% 69.49% 68.53% 68.41% 67.34% 66.64% 66.96% 66.59% 66.81% 67.61% 68.02% 68.36% 68.99% 68.56% 68.39%
Operating profit margin 19.18% 19.33% 11.99% 11.75% 11.56% 11.82% 18.25% 17.76% 17.89% 17.51% 17.01% 16.97% 16.89% 18.05% 19.03% 19.13% 19.39%
Net profit margin 12.66% 12.53% 5.40% 4.71% 4.42% 4.46% 11.54% 11.96% 12.17% 12.73% 11.44% 11.25% 10.17% 9.90% 10.91% 10.72% 11.99%
Return on Investment
Return on equity (ROE) 18.61% 18.34% 7.74% 6.86% 6.63% 6.73% 15.35% 15.18% 14.73% 15.12% 13.13% 12.66% 11.66% 11.97% 13.77% 14.29% 15.78%
Return on assets (ROA) 5.81% 5.80% 2.48% 2.18% 2.09% 2.12% 5.26% 5.25% 5.13% 5.23% 4.50% 4.21% 3.85% 3.84% 4.33% 4.44% 4.96%

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Comcast Corp. gross profit margin ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023 not reaching Q2 2023 level.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Comcast Corp. operating profit margin ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Comcast Corp. net profit margin ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Comcast Corp. ROE improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
ROA A profitability ratio calculated as net income divided by total assets. Comcast Corp. ROA improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Gross Profit Margin

Comcast Corp., gross profit margin calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Gross profit 20,996 21,463 21,664 20,687 20,745 20,900 21,129 20,440 20,456 19,903 19,290 18,286 18,270 16,967 16,898 18,308 19,098 18,511 18,603 18,290
Revenue 31,253 30,115 30,513 29,691 30,552 29,849 30,016 31,010 30,336 30,298 28,546 27,205 27,708 25,532 23,715 26,609 28,398 26,827 26,858 26,859
Profitability Ratio
Gross profit margin1 69.76% 69.96% 69.65% 69.49% 68.53% 68.41% 67.34% 66.64% 66.96% 66.59% 66.81% 67.61% 68.02% 68.36% 68.99% 68.56% 68.39%
Benchmarks
Gross Profit Margin, Competitors2
Alphabet Inc. 56.63% 55.88% 55.44% 55.30% 55.38% 56.10% 56.74% 56.93% 56.94% 56.51% 55.72% 54.32% 53.58% 53.60% 54.15% 55.08% 55.58%
Meta Platforms Inc. 80.76% 79.05% 78.34% 78.40% 78.35% 80.31% 80.47% 80.34% 80.79% 80.85% 80.98% 80.55% 80.58% 81.04% 81.46% 81.72% 81.94%
Netflix Inc. 41.54% 39.49% 38.77% 38.30% 39.37% 39.62% 40.63% 41.62% 41.64% 43.22% 42.29% 41.10% 38.89% 38.80% 38.98% 38.47% 38.28%
Walt Disney Co. 33.41% 32.77% 33.04% 33.40% 34.24% 34.43% 33.79% 34.34% 33.06% 31.12% 30.65% 29.85% 32.89% 35.96% 36.60% 38.72% 39.60% 40.87% 43.39% 44.45%

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Gross profit margin = 100 × (Gross profitQ4 2023 + Gross profitQ3 2023 + Gross profitQ2 2023 + Gross profitQ1 2023) ÷ (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023)
= 100 × (20,996 + 21,463 + 21,664 + 20,687) ÷ (31,253 + 30,115 + 30,513 + 29,691) = 69.76%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Comcast Corp. gross profit margin ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023 not reaching Q2 2023 level.

Operating Profit Margin

Comcast Corp., operating profit margin calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Operating income (loss) 4,484 6,475 6,709 5,646 4,531 (2,426) 6,367 5,569 4,821 5,450 5,507 5,039 3,918 4,076 4,647 4,852 5,247 5,340 5,356 5,182
Revenue 31,253 30,115 30,513 29,691 30,552 29,849 30,016 31,010 30,336 30,298 28,546 27,205 27,708 25,532 23,715 26,609 28,398 26,827 26,858 26,859
Profitability Ratio
Operating profit margin1 19.18% 19.33% 11.99% 11.75% 11.56% 11.82% 18.25% 17.76% 17.89% 17.51% 17.01% 16.97% 16.89% 18.05% 19.03% 19.13% 19.39%
Benchmarks
Operating Profit Margin, Competitors2
Alphabet Inc. 27.42% 26.51% 25.75% 25.35% 26.46% 27.85% 29.65% 30.47% 30.55% 30.30% 28.45% 25.26% 22.59% 20.29% 19.76% 21.36% 21.15%
Meta Platforms Inc. 34.66% 28.96% 23.80% 23.56% 24.82% 29.74% 33.41% 36.68% 39.65% 41.79% 42.52% 40.42% 38.01% 36.41% 37.12% 36.21% 33.93%
Netflix Inc. 20.62% 18.35% 17.51% 16.85% 17.82% 18.16% 19.13% 20.41% 20.86% 22.76% 22.03% 21.17% 18.34% 17.17% 16.59% 14.50% 12.92%
Walt Disney Co. 5.74% 5.22% 8.02% 7.42% 7.90% 8.01% 7.08% 6.93% 4.46% 2.60% -7.99% -7.37% -2.97% 1.25% 10.76% 13.22% 15.33% 18.18% 22.00% 24.32%

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Operating profit margin = 100 × (Operating income (loss)Q4 2023 + Operating income (loss)Q3 2023 + Operating income (loss)Q2 2023 + Operating income (loss)Q1 2023) ÷ (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023)
= 100 × (4,484 + 6,475 + 6,709 + 5,646) ÷ (31,253 + 30,115 + 30,513 + 29,691) = 19.18%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Comcast Corp. operating profit margin ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023.

Net Profit Margin

Comcast Corp., net profit margin calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Comcast Corporation 3,260 4,046 4,248 3,834 3,023 (4,598) 3,396 3,549 3,057 4,035 3,738 3,329 3,380 2,019 2,988 2,147 3,162 3,217 3,125 3,553
Revenue 31,253 30,115 30,513 29,691 30,552 29,849 30,016 31,010 30,336 30,298 28,546 27,205 27,708 25,532 23,715 26,609 28,398 26,827 26,858 26,859
Profitability Ratio
Net profit margin1 12.66% 12.53% 5.40% 4.71% 4.42% 4.46% 11.54% 11.96% 12.17% 12.73% 11.44% 11.25% 10.17% 9.90% 10.91% 10.72% 11.99%
Benchmarks
Net Profit Margin, Competitors2
Alphabet Inc. 24.01% 22.46% 21.05% 20.58% 21.20% 23.75% 25.89% 27.57% 29.51% 29.52% 28.57% 26.11% 22.06% 20.80% 18.99% 20.71% 21.22%
Meta Platforms Inc. 28.98% 23.42% 18.71% 18.27% 19.90% 24.41% 28.16% 31.20% 33.38% 35.88% 37.18% 35.74% 33.90% 32.00% 31.29% 28.57% 26.15%
Netflix Inc. 16.04% 13.82% 13.22% 13.16% 14.21% 16.03% 16.42% 16.47% 17.23% 17.64% 15.92% 14.24% 11.05% 11.78% 11.85% 10.43% 9.26%
Walt Disney Co. 2.65% 2.56% 4.74% 3.93% 3.80% 3.87% 3.46% 4.22% 2.96% 1.77% -7.73% -8.15% -4.38% -1.58% 6.88% 13.80% 15.89% 19.02% 22.55% 18.46%

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Net profit margin = 100 × (Net income (loss) attributable to Comcast CorporationQ4 2023 + Net income (loss) attributable to Comcast CorporationQ3 2023 + Net income (loss) attributable to Comcast CorporationQ2 2023 + Net income (loss) attributable to Comcast CorporationQ1 2023) ÷ (RevenueQ4 2023 + RevenueQ3 2023 + RevenueQ2 2023 + RevenueQ1 2023)
= 100 × (3,260 + 4,046 + 4,248 + 3,834) ÷ (31,253 + 30,115 + 30,513 + 29,691) = 12.66%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Comcast Corp. net profit margin ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Return on Equity (ROE)

Comcast Corp., ROE calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Comcast Corporation 3,260 4,046 4,248 3,834 3,023 (4,598) 3,396 3,549 3,057 4,035 3,738 3,329 3,380 2,019 2,988 2,147 3,162 3,217 3,125 3,553
Total Comcast Corporation shareholders’ equity 82,703 82,625 84,119 82,421 80,943 80,296 91,426 94,693 96,092 95,782 94,935 92,575 90,323 86,176 83,614 81,506 82,726 78,144 76,850 74,959
Profitability Ratio
ROE1 18.61% 18.34% 7.74% 6.86% 6.63% 6.73% 15.35% 15.18% 14.73% 15.12% 13.13% 12.66% 11.66% 11.97% 13.77% 14.29% 15.78%
Benchmarks
ROE, Competitors2
Alphabet Inc. 26.04% 24.43% 22.82% 22.46% 23.41% 26.41% 28.20% 29.35% 30.22% 28.87% 26.49% 22.33% 18.09% 16.77% 15.21% 16.95% 17.05%
Meta Platforms Inc. 25.53% 20.81% 16.82% 17.18% 18.45% 23.23% 26.74% 30.30% 31.53% 30.22% 28.18% 25.24% 22.72% 21.47% 21.30% 19.90% 18.29%
Netflix Inc. 26.27% 20.47% 18.60% 19.24% 21.62% 24.57% 26.71% 28.54% 32.28% 32.98% 31.68% 29.18% 24.96% 27.16% 28.73% 26.54% 24.62%
Walt Disney Co. 2.37% 2.31% 4.21% 3.45% 3.31% 3.40% 2.92% 3.43% 2.25% 1.30% -5.28% -5.89% -3.43% -1.28% 5.95% 11.56% 12.44% 13.62% 14.99% 21.79%

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
ROE = 100 × (Net income (loss) attributable to Comcast CorporationQ4 2023 + Net income (loss) attributable to Comcast CorporationQ3 2023 + Net income (loss) attributable to Comcast CorporationQ2 2023 + Net income (loss) attributable to Comcast CorporationQ1 2023) ÷ Total Comcast Corporation shareholders’ equity
= 100 × (3,260 + 4,046 + 4,248 + 3,834) ÷ 82,703 = 18.61%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Comcast Corp. ROE improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Return on Assets (ROA)

Comcast Corp., ROA calculation (quarterly data)

Microsoft Excel
Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Comcast Corporation 3,260 4,046 4,248 3,834 3,023 (4,598) 3,396 3,549 3,057 4,035 3,738 3,329 3,380 2,019 2,988 2,147 3,162 3,217 3,125 3,553
Total assets 264,811 261,072 262,147 259,429 257,275 254,308 267,032 274,074 275,905 277,061 277,004 278,511 273,869 268,940 265,978 262,421 263,414 256,374 256,555 256,189
Profitability Ratio
ROA1 5.81% 5.80% 2.48% 2.18% 2.09% 2.12% 5.26% 5.25% 5.13% 5.23% 4.50% 4.21% 3.85% 3.84% 4.33% 4.44% 4.96%
Benchmarks
ROA, Competitors2
Alphabet Inc. 18.34% 16.82% 15.91% 15.86% 16.42% 18.70% 20.28% 20.87% 21.16% 20.33% 18.76% 15.70% 12.60% 11.93% 11.32% 12.63% 12.45%
Meta Platforms Inc. 17.03% 13.75% 10.91% 11.62% 12.49% 16.12% 19.81% 22.74% 23.72% 23.77% 22.83% 20.63% 18.29% 17.26% 16.84% 15.15% 13.86%
Netflix Inc. 11.10% 9.14% 8.36% 8.49% 9.24% 10.61% 10.99% 11.05% 11.48% 11.82% 10.72% 9.37% 7.03% 7.27% 7.21% 6.37% 5.49%
Walt Disney Co. 1.15% 1.11% 2.01% 1.64% 1.54% 1.54% 1.31% 1.52% 0.98% 0.56% -2.25% -2.45% -1.42% -0.53% 2.61% 5.16% 5.70% 5.88% 6.29% 10.97%

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
ROA = 100 × (Net income (loss) attributable to Comcast CorporationQ4 2023 + Net income (loss) attributable to Comcast CorporationQ3 2023 + Net income (loss) attributable to Comcast CorporationQ2 2023 + Net income (loss) attributable to Comcast CorporationQ1 2023) ÷ Total assets
= 100 × (3,260 + 4,046 + 4,248 + 3,834) ÷ 264,811 = 5.81%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Comcast Corp. ROA improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.