Common-Size Income Statement
Paying user area
Try for free
Comcast Corp. pages available for free this week:
- Income Statement
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Selected Financial Data since 2005
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Comcast Corp. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Comcast Corp., common-size consolidated income statement
Based on: 10-K (reporting date: 2025-12-31), 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).
The common-size income statement reveals several noteworthy trends in the company’s profitability and cost structure over the five-year period. Revenue is consistently represented as 100% by definition, allowing for a clear view of how each line item contributes to overall performance. A significant fluctuation in operating income is observed, alongside shifts in expense management and other income sources.
- Gross Profit
- Gross profit as a percentage of revenue demonstrates a consistent upward trend, increasing from 66.96% in 2021 to 71.75% in 2025. This suggests improving efficiency in managing the cost of goods sold or increased pricing power over the period.
- Operating Expenses
- Several operating expenses exhibit increasing percentages of revenue. Marketing and promotion increased from 6.61% to 7.16%, while other operating and administrative expenses rose more substantially, from 30.60% to 34.77%. Depreciation and amortization also increased, moving from a combined 11.86% to 13.10%. These increases collectively contribute to pressure on operating income.
- Operating Income
- Operating income experienced a substantial decline in 2022, falling to 11.56% of revenue from 17.89% in 2021. However, it rebounded strongly in 2023 and 2024, reaching 19.18% and 18.83% respectively, before decreasing slightly to 16.71% in 2025. This volatility suggests significant underlying factors impacting core business performance.
- Non-Operating Items
- The impact of non-operating items on overall profitability is notable. A significant goodwill and long-lived asset impairment was recorded in 2022, representing 7.07% of revenue. Investment and other income fluctuated considerably, with a negative impact in 2022 (-0.71%) and a substantial positive impact in 2025 (7.68%). Other income, net, shows a dramatic increase in 2025, reaching 8.18% of revenue, significantly boosting income before income taxes.
- Net Income
- Net income as a percentage of revenue mirrors the trends observed in income before income taxes. A sharp decline in 2022 (4.06%) was followed by recovery in 2023 (12.43%) and 2024 (12.83%), culminating in a further increase to 15.89% in 2025. This final increase is largely attributable to the substantial gains in other income and investment income.
- Tax Rate
- The effective tax rate, calculated as income tax expense divided by income before income taxes, varied over the period. It was relatively consistent between 2021 and 2023, around 27-28%. A significant decrease occurred in 2024 (15%), followed by a return to a higher rate in 2025 (23.6%).
In summary, the company experienced a period of volatility, particularly in 2022, but demonstrated a recovery and improvement in profitability through 2025. The increasing gross profit margin is a positive sign, but rising operating expenses require attention. The significant impact of non-operating items, especially in 2022 and 2025, highlights the importance of considering these factors when assessing overall financial performance.