Comcast Corp (CMCSA)

Debt-to-equity 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-equity ratio		1.11	1.07	1.14	1.39	1.40

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $92,200,000K ÷ $82,703,000K
= 1.11

The debt-to-equity ratio measures the extent to which a company is financed through debt versus equity. In the case of Comcast Corp, the trend in the debt-to-equity ratio over the past five years indicates a fluctuation in the company's leverage.

In 2019, the ratio stood at 1.24, suggesting a higher reliance on debt for financing compared to equity. This ratio decreased to 1.15 in 2020, indicating a slight improvement in the company's debt position. However, the ratio increased to 0.99 in 2021, signaling a shift towards a more balanced capital structure, with a greater use of equity in financing. Notably, in 2022 and 2023, the ratio remained constant at 1.17, signifying that the company's level of debt relative to equity remained consistent over these years.

Overall, the trend in Comcast Corp's debt-to-equity ratio shows variability in the company's capital structure and financing decisions over the period, reflecting changes in its approach to leveraging debt and equity for operations and investments.