Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- 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
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Comcast Corp., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The financial information reveals fluctuating cash flows over the observed period, spanning from March 2021 to December 2025. Operating activities consistently generated positive cash flow, though with considerable variation. Investing and financing activities consistently represented cash outflows, with significant fluctuations observed in both.
- Net Income
- Net income exhibited volatility. While generally positive from March 2021 through December 2022, a substantial loss was recorded in September 2022. Income recovered in subsequent periods, peaking significantly in June 2025 at US$11,044 million before declining again in the final quarter. This suggests potential one-time gains or losses impacting profitability in specific quarters.
- Operating Activities
- Net cash provided by operating activities remained positive throughout the period, ranging from approximately US$5,883 million to US$8,841 million. However, the amount varied, with a noticeable dip in the latter half of 2022 and a peak in the third quarter of 2023. Adjustments to reconcile net income to net cash provided by operating activities were substantial, consistently exceeding net income itself, indicating significant non-cash adjustments impacting cash flow from operations.
- Investing Activities
- Net cash used in investing activities was consistently negative, indicating ongoing investments. The largest outflows occurred in December 2021 and December 2025. Significant capital expenditures were consistently present, alongside cash outflows for intangible assets and, notably, the construction of the Universal Beijing Resort, which contributed to substantial negative cash flow in the earlier periods. Proceeds from sales of businesses and investments provided some offsetting inflows, particularly in September 2022 and June 2025, but were insufficient to offset the overall outflows.
- Financing Activities
- Net cash used in financing activities was consistently negative, driven by debt repayments, common stock repurchases, and dividend payments. A particularly large outflow occurred in December 2021, largely attributable to debt repayments and stock repurchases. Proceeds from borrowings partially offset these outflows in several periods, but were often insufficient to cover the combined impact of debt reduction, share repurchases, and dividend distributions. A significant repayment of collateralized obligation was observed in December 2023.
- Key Trends & Observations
- The period between March 2021 and June 2022 showed relatively stable operating cash flows. The significant loss in net income during September 2022, coupled with substantial negative adjustments to reconcile net income to operating cash flow, warrants further investigation. The large fluctuations in net cash used in financing activities suggest active capital management strategies, including debt restructuring and shareholder returns. The impact of foreign currency fluctuations, while generally small, should be monitored. The substantial increase in net income in June 2025 requires further scrutiny to determine its sustainability.
Overall, the company demonstrates a capacity to generate cash from its core operations, but consistently utilizes these funds for investments, debt reduction, and returning capital to shareholders. The volatility in net income and the significant non-cash adjustments highlight the importance of a thorough understanding of the underlying business drivers and accounting policies.