Enterprise Value (EV)
Current Enterprise Value (EV)
Comcast Corp., current enterprise value calculation
| Current share price (P) | $34.53 |
| No. shares of common stock outstanding | 3,733,703,927 |
| US$ in millions | |
| Common equity (market value)1 | 128,925) |
| Add: Preferred stock; issued, zero (per books) | —) |
| Add: Noncontrolling interests (per books) | 478) |
| Total equity | 129,403) |
| Add: Current portion of debt (per books) | 4,907) |
| Add: Noncurrent portion of debt (per books) | 94,186) |
| Total equity and debt | 228,496) |
| Less: Cash and cash equivalents | 7,322) |
| Enterprise value (EV) | 221,174) |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 34.53 × 3,733,703,927
Historical Enterprise Value (EV)
Comcast Corp., EV calculation
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 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Comcast Corp. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 33.66 × 3,781,022,601
- Equity Trends
- The market value of common equity decreased notably from 235,675 million US$ in 2020 to 127,269 million US$ in 2024, representing a significant decline over the five-year period. Similarly, total equity followed a parallel downward trend, dropping from 237,090 million US$ in 2020 to 127,747 million US$ in 2024. This consistent reduction in equity values indicates a contraction in the company's net asset base during this timeframe.
- Debt and Capital Structure
- Total equity and debt fell from 340,850 million US$ in 2020 to 226,840 million US$ in 2024. The decline suggests either debt reduction, equity shrinkage, or a combination of both. The proportional decline in total equity and debt was less steep than the decline in equity alone, suggesting that changes in leverage or capital structure may have occurred but equity reduction remains more pronounced.
- Enterprise Value (EV) Movement
- Enterprise value decreased from 329,110 million US$ in 2020 to 219,518 million US$ in 2024. This trend aligns closely with the reductions seen in total equity and equity market value, implying a consistent decline in the valuation attributed by the market to the company's overall operations and capital structure.
- Overall Assessment
- The analyzed data reveals a sustained downward trend across key financial indicators including common equity (market value), total equity, total capital employed, and enterprise value over the five years. These patterns may reflect challenges in market perception, operational performance, or increased financial pressures affecting the firm's valuation and capital base. The sharper decline in equity compared to total capital points to a potential adjustment in capital structure and reduced shareholder value.