Comcast Corp (CMCSA)

Debt-to-capital ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Long-term debt	US$ in thousands	89,800,000	—	—	—	92,200,000	85,500,000	90,500,000	89,900,000	86,900,000	82,100,000	90,400,000	99,800,000	109,300,000	112,400,000	114,700,000	117,800,000	125,600,000	124,200,000	124,700,000	118,800,000
Total stockholders’ equity	US$ in thousands	85,560,000	85,774,000	83,219,000	82,549,000	82,703,000	82,625,000	84,119,000	82,421,000	80,943,000	80,296,000	91,426,000	94,693,000	96,092,000	95,782,000	94,935,000	92,575,000	90,323,000	86,176,000	83,614,000	81,506,000
Debt-to-capital ratio		0.51	0.00	0.00	0.00	0.53	0.51	0.52	0.52	0.52	0.51	0.50	0.51	0.53	0.54	0.55	0.56	0.58	0.59	0.60	0.59

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $89,800,000K ÷ ($89,800,000K + $85,560,000K)
= 0.51

Comcast Corp's debt-to-capital ratio has shown a decreasing trend over the past few years, indicating a lower reliance on debt financing relative to its total capital. The ratio decreased from 0.59 as of March 31, 2020, to 0.53 as of December 31, 2023, before reaching 0.51 by the end of September 30, 2024. However, there was a significant drop to 0.00 in the first three quarters of the fiscal year 2024, which might indicate a change in the company's capital structure or reporting practices. It is important to further investigate the sudden drop in the ratio to understand the underlying reasons and implications for Comcast's financial position and risk management.