COMCAST CORP

Listed Company

CMCSACIK 0001166691NasdaqLarge AcceleratedCable & Other Pay Television ServicesPennsylvaniaFY ends Dec 31

Period

FY 2025

Revenue

$123.71B

Net Income

$20.00B

Total Assets

$272.63B

Equity

$96.90B

Shares Out

2.06B

Op. Cash Flow

$33.64B

Business

COMCAST CORP is a global media and technology company that delivers connectivity, platforms, content and experiences to consumers and businesses. It offers broadband, wireless, video, voice, advertising, streaming services, television networks, film and television studios, and operates Universal theme parks and related consumer products. The company organizes operations into two primary businesses—Connectivity & Platforms (Residential and Business Services Connectivity) and Content & Experiences (Media, Studios and Theme Parks). Its products and services are distributed across the United States, the United Kingdom, Italy and other international markets through cable, fiber, satellite, streaming platforms, MVNO arrangements and direct-to-consumer channels.

Summary from filing dated 2025-01-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	123,707	123,731	121,572	121,427	—
Programming and production	34,951	37,026	36,762	38,213	38,450
Marketing and promotion	8,862	8,073	7,971	8,506	7,695
Other operating and administrative	43,013	40,533	39,190	38,263	35,619
Depreciation	9,327	8,729	8,854	8,724	8,628
Amortization	6,884	6,072	5,482	5,097	5,176
Total costs and expenses	103,035	100,434	98,258	107,385	95,568
Operating income	20,672	23,297	23,314	14,041	20,817
Interest expense	−4,409	−4,134	−4,087	−3,896	—
Investment and other income (loss), net	9,503	−490	1,252	−861	2,557
Income before income taxes	25,766	18,673	20,478	9,284	19,093
Income tax expense	−6,106	−2,796	−5,371	−4,359	−5,259
Net income	19,660	15,877	15,107	4,925	13,833
Less: Net income (loss) attributable to noncontrolling interests	−338	−315	−282	−445	−325
Net income attributable to Comcast Corporation	19,998	16,192	15,388	5,370	14,159
Basic earnings per common share attributable to Comcast Corporation shareholders (in dollars per share)	5.41	4.17	3.73	1.22	3.09
Diluted earnings per common share attributable to Comcast Corporation shareholders (in dollars per share)	5.39	4.14	3.71	1.21	3.04

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-11-30	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	9,481	—	7,322	6,215	4,749
Receivables, net	13,869	—	13,661	13,813	12,672
Other current assets	6,217	—	5,817	3,959	4,406
Total current assets	29,567	—	26,801	23,987	21,826
Film and television costs	12,214	—	12,541	12,920	12,560
Investments	7,952	—	8,647	9,385	7,740
Property and equipment, net	65,700	—	62,500	59,700	55,500
Goodwill	61,500	—	58,200	59,300	58,500
Franchise rights	59,365	—	59,365	59,365	59,365
Other intangible assets, net	22,474	—	25,599	27,867	29,308
Other noncurrent assets, net	13,877	—	12,501	12,333	12,497
Total assets	272,631	—	266,211	264,811	257,275
Accounts payable and accrued expenses related to trade creditors	11,058	—	11,321	12,437	12,544
Deferred revenue	4,097	—	3,507	3,242	2,380
Accrued expenses and other current liabilities	12,410	—	10,679	13,284	9,450
Current portion of debt	6,000	—	4,900	2,100	1,700
Advance on sale of investment	0	—	9,167	9,167	0
Total current liabilities	33,524	—	39,581	40,198	27,887
Noncurrent portion of debt	93,000	—	94,200	95,000	93,100
Deferred income taxes	27,788	—	25,227	26,003	28,714
Other noncurrent liabilities	20,965	—	20,942	20,122	20,395
Commitments and contingencies	—	—	—	—	—
Redeemable noncontrolling interests	224	—	237	241	411
Preferred stockauthorized, 20,000,000 shares; issued, zero	0	—	0	0	0
Additional paid-in capital	37,709	—	38,102	38,533	39,412
Retained earnings	66,675	—	56,972	52,892	51,609
Treasury stock, common, value	−7,517	—	−7,517	−7,517	−7,517
Accumulated other comprehensive income (loss)	−8	—	−2,043	−1,253	−2,611
Total Comcast Corporation shareholders equity	96,903	—	85,560	82,703	80,943
Noncontrolling interests	249	—	477	523	684
Total equity	97,151	—	86,038	83,226	81,627
Total liabilities and equity	272,631	—	266,211	264,811	257,275
Treasury stock (in shares)	919	873	919	873	873

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	16,210	14,802	14,336	13,821	13,804
Share-based compensation	1,288	1,288	1,241	1,336	1,315
Noncash interest expense (income), net	488	464	316	309	482
Net (gain) loss on investment activity and other	−8,853	1,088	−768	1,177	−1,311
Deferred income taxes	2,674	−902	−2,739	−834	1,892
Current and noncurrent receivables, net	−135	136	−996	−1,327	—
Film and television costs, net	338	290	−260	−451	−680
Accounts payable and accrued expenses related to trade creditors	−20	−758	−520	497	765
Other operating assets and liabilities	1,994	−4,611	2,784	−1,623	382
Net cash provided by operating activities	33,643	27,673	28,501	26,413	29,146
Capital expenditures	−11,750	−12,181	−12,242	−10,626	−9,174
Cash paid for intangible assets	−2,658	−2,949	−3,298	−3,141	−2,883
Construction of Universal Beijing Resort	−11	−116	−137	−330	−976
Acquisitions, net of cash acquired	−1,306	−119	0	−12	−1,374
Proceeds from sales of businesses and investments	670	771	661	1,985	684
Advance on sale of investment	0	0	8,610	0	0
Purchases of investments	−1,302	−1,082	−1,313	−2,274	−174
Other	199	6	558	246	451
Net cash provided by (used in) investing activities	−16,157	−15,670	−7,161	−14,140	−13,446
Proceeds from (repayments of) short-term borrowings, net	0	0	−660	660	0
Proceeds from borrowings	3,494	6,268	6,052	2,745	2,628
Repurchases and repayments of debt	−5,740	−3,573	−4,015	−2,307	—
Repayment of collateralized obligation	0	0	−5,175	0	0
Repurchases of common stock under repurchase program and employee plans	−7,155	−9,103	−11,291	−13,328	−4,672
Dividends paid	−4,894	−4,814	−4,766	−4,741	−4,532
Other	−50	339	5	786	−544
Net cash provided by (used in) financing activities	−14,346	−10,883	−19,850	−16,184	−18,618
Impact of foreign currency on cash, cash equivalents and restricted cash	42	−26	9	−86	−71
Increase (decrease) in cash, cash equivalents and restricted cash	3,182	1,095	1,500	−3,997	−2,989

Filings

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