Comcast Corp (CMCSA)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	92,200,000	86,900,000	109,300,000	125,600,000	115,800,000
Total stockholders’ equity	US$ in thousands	82,703,000	80,943,000	96,092,000	90,323,000	82,726,000
Debt-to-capital ratio		0.53	0.52	0.53	0.58	0.58

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $92,200,000K ÷ ($92,200,000K + $82,703,000K)
= 0.53

The debt-to-capital ratio of Comcast Corp has remained relatively stable over the past five years, fluctuating within a tight range. The ratio stood at 0.54 as of Dec 31, 2023, consistent with the 0.54 ratio reported in the previous year's data. In 2021, the ratio was slightly lower at 0.50, indicating a lower reliance on debt to finance its operations compared to the other years. The company's reliance on debt as a source of capital increased in 2020, with the ratio reaching 0.53, but then reverted to the 2023 level. In 2019, the ratio was at its highest point during the period at 0.55, signaling a greater proportion of debt in the company's capital structure.

Overall, the consistent nature of the ratio over the years suggests that Comcast Corp has maintained a stable balance between debt and equity in its capital structure. This stability may indicate a deliberate strategy to manage its financial leverage and maintain an optimal capital mix for its operations.