Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Comcast Corp., liquidity ratios
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Current ratio | 0.88 | 0.68 | 0.60 | 0.78 | 0.85 | |
| Quick ratio | 0.70 | 0.53 | 0.50 | 0.62 | 0.71 | |
| Cash ratio | 0.28 | 0.18 | 0.15 | 0.17 | 0.30 |
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 liquidity position, as indicated by the examined ratios, demonstrates a fluctuating pattern over the five-year period. Initially, a decline in liquidity is observed, followed by a partial recovery in the later years. The current ratio, quick ratio, and cash ratio all reflect this trend, though with varying degrees of magnitude.
- Current Ratio
- The current ratio decreased from 0.85 in 2021 to a low of 0.60 in 2023. This suggests a weakening ability to meet short-term obligations using current assets. A slight improvement is then noted in 2024, rising to 0.68, and further strengthening to 0.88 in 2025, approaching the level seen in 2021. This indicates a recovery in the company’s short-term solvency.
- Quick Ratio
- The quick ratio follows a similar trajectory to the current ratio, declining from 0.71 in 2021 to 0.50 in 2023. This indicates a diminishing capacity to cover immediate liabilities with the most liquid assets. The ratio experiences a modest increase to 0.53 in 2024, followed by a more substantial rise to 0.70 in 2025, mirroring the improvement observed in the current ratio. This suggests a strengthening of the company’s ability to meet short-term obligations excluding inventory.
- Cash Ratio
- The cash ratio exhibits the most pronounced decline, decreasing from 0.30 in 2021 to 0.15 in 2023. This signifies a substantial reduction in the proportion of current assets held as cash, and therefore a decreased capacity to cover immediate liabilities with cash and cash equivalents. A gradual recovery is then apparent, with the ratio increasing to 0.18 in 2024 and 0.28 in 2025. While improved, the cash ratio remains below its initial level, indicating a continued reliance on other current assets for short-term liquidity.
Overall, the period between 2021 and 2023 appears to have presented liquidity challenges. However, the subsequent years demonstrate a positive trend, with all three ratios showing improvement. The recovery in 2024 and 2025 suggests successful implementation of strategies to bolster the company’s short-term financial health.
Current Ratio
Comcast Corp., current ratio calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 29,567) | 26,801) | 23,987) | 21,826) | 24,807) | |
| Current liabilities | 33,524) | 39,581) | 40,198) | 27,887) | 29,348) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 0.88 | 0.68 | 0.60 | 0.78 | 0.85 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Alphabet Inc. | 2.01 | 1.84 | 2.10 | 2.38 | 2.93 | |
| Meta Platforms Inc. | 2.60 | 2.98 | 2.67 | 2.20 | 3.15 | |
| Netflix Inc. | 1.19 | 1.22 | 1.12 | 1.17 | 0.95 | |
| Trade Desk Inc. | — | 1.86 | 1.72 | 1.90 | 1.71 | |
| Walt Disney Co. | 0.71 | 0.73 | 1.05 | 1.00 | 1.08 | |
| Current Ratio, Sector | ||||||
| Media & Entertainment | — | 1.59 | 1.67 | 1.77 | 2.08 | |
| Current Ratio, Industry | ||||||
| Communication Services | — | 1.24 | 1.31 | 1.29 | 1.42 | |
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).
1 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= 29,567 ÷ 33,524 = 0.88
2 Click competitor name to see calculations.
The current ratio exhibited fluctuating performance over the five-year period. Initially, the ratio decreased before showing signs of recovery towards the end of the analyzed timeframe.
- Current Ratio Trend
- The current ratio began at 0.85 in 2021, indicating that current assets covered 85% of current liabilities. A decline was observed in 2022, with the ratio falling to 0.78. This downward trend continued into 2023, reaching a low of 0.60. This suggests a weakening ability to cover short-term obligations with short-term assets.
- However, the ratio experienced an increase in 2024, rising to 0.68. This improvement suggests a partial recovery in the company’s short-term liquidity position. The most significant improvement occurred in 2025, with the current ratio reaching 0.88, surpassing the initial value from 2021. This indicates a strengthened ability to meet short-term obligations.
The movement in the current ratio appears to be influenced by the relative changes in current assets and current liabilities. While current assets generally increased over the period, current liabilities experienced a substantial increase in 2023, contributing to the ratio’s lowest point. The subsequent decrease in current liabilities in 2025, coupled with continued growth in current assets, drove the ratio’s recovery.
- Underlying Component Analysis
- Current assets increased from US$24,807 million in 2021 to US$29,567 million in 2025, demonstrating overall growth. However, this growth was not consistent year-over-year.
- Current liabilities fluctuated more significantly, increasing from US$29,348 million in 2021 to US$40,198 million in 2023, before decreasing to US$33,524 million in 2025. This volatility in current liabilities had a pronounced effect on the current ratio.
The observed trend suggests that while the company experienced periods of liquidity concern, it ultimately improved its short-term financial position by the end of the analyzed period. Continued monitoring of both current assets and current liabilities is recommended to maintain a healthy current ratio.
Quick Ratio
Comcast Corp., quick ratio calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 9,481) | 7,322) | 6,215) | 4,749) | 8,711) | |
| Receivables, net | 13,869) | 13,661) | 13,813) | 12,672) | 12,008) | |
| Total quick assets | 23,350) | 20,983) | 20,028) | 17,421) | 20,719) | |
| Current liabilities | 33,524) | 39,581) | 40,198) | 27,887) | 29,348) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.70 | 0.53 | 0.50 | 0.62 | 0.71 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Alphabet Inc. | 1.85 | 1.66 | 1.94 | 2.22 | 2.79 | |
| Meta Platforms Inc. | 2.42 | 2.82 | 2.55 | 2.01 | 2.94 | |
| Netflix Inc. | 1.14 | 1.18 | 1.07 | 1.12 | 0.91 | |
| Trade Desk Inc. | — | 1.83 | 1.69 | 1.87 | 1.65 | |
| Walt Disney Co. | 0.55 | 0.54 | 0.85 | 0.83 | 0.94 | |
| Quick Ratio, Sector | ||||||
| Media & Entertainment | — | 1.43 | 1.53 | 1.61 | 1.93 | |
| Quick Ratio, Industry | ||||||
| Communication Services | — | 1.04 | 1.12 | 1.08 | 1.23 | |
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).
1 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 23,350 ÷ 33,524 = 0.70
2 Click competitor name to see calculations.
The quick ratio exhibited fluctuating performance over the five-year period. Initial values decreased before stabilizing and then increasing towards the end of the observed timeframe. A review of the underlying components reveals insights into these movements.
- Overall Trend
- The quick ratio began at 0.71 in 2021, decreased to a low of 0.50 in 2023, and then showed improvement, reaching 0.70 in 2025. This indicates a period of declining short-term liquidity followed by a recovery.
- Quick Asset Movement
- Total quick assets decreased from US$20,719 million in 2021 to US$17,421 million in 2022. These assets then increased to US$20,028 million in 2023, continued to US$20,983 million in 2024, and further rose to US$23,350 million in 2025. This upward trend in quick assets contributed to the ratio’s recovery in later years.
- Current Liability Movement
- Current liabilities decreased from US$29,348 million in 2021 to US$27,887 million in 2022. However, they increased significantly to US$40,198 million in 2023, before decreasing slightly to US$39,581 million in 2024, and then declining to US$33,524 million in 2025. The substantial increase in current liabilities in 2023 was a primary driver of the quick ratio’s decline that year.
- Ratio Dynamics
- The decrease in the quick ratio from 2021 to 2023 was primarily driven by the faster growth of current liabilities compared to quick assets. The subsequent improvement in the ratio from 2023 to 2025 was due to a combination of increasing quick assets and decreasing current liabilities. The ratio’s movement suggests a changing balance between readily available assets and short-term obligations.
The quick ratio’s recovery in the final two years of the period suggests improved capacity to meet short-term obligations with the most liquid assets. However, the ratio remained below the initial value of 0.71, indicating a potential shift in the company’s short-term financial structure.
Cash Ratio
Comcast Corp., cash ratio calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 9,481) | 7,322) | 6,215) | 4,749) | 8,711) | |
| Total cash assets | 9,481) | 7,322) | 6,215) | 4,749) | 8,711) | |
| Current liabilities | 33,524) | 39,581) | 40,198) | 27,887) | 29,348) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.28 | 0.18 | 0.15 | 0.17 | 0.30 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Alphabet Inc. | 1.23 | 1.07 | 1.36 | 1.64 | 2.17 | |
| Meta Platforms Inc. | 1.95 | 2.32 | 2.05 | 1.51 | 2.27 | |
| Netflix Inc. | 0.83 | 0.89 | 0.81 | 0.76 | 0.71 | |
| Trade Desk Inc. | — | 0.67 | 0.55 | 0.71 | 0.53 | |
| Walt Disney Co. | 0.17 | 0.17 | 0.46 | 0.40 | 0.51 | |
| Cash Ratio, Sector | ||||||
| Media & Entertainment | — | 0.94 | 1.04 | 1.09 | 1.40 | |
| Cash Ratio, Industry | ||||||
| Communication Services | — | 0.62 | 0.68 | 0.64 | 0.80 | |
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).
1 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 9,481 ÷ 33,524 = 0.28
2 Click competitor name to see calculations.
The cash ratio exhibited fluctuations over the five-year period. Initially, the ratio decreased before stabilizing and then increasing again. Total cash assets and current liabilities both influenced this trend, though not always in the same direction.
- Cash Ratio Trend
- The cash ratio began at 0.30 in 2021, representing the proportion of current liabilities covered by total cash assets. A substantial decline was observed in 2022, falling to 0.17. This downward trend continued into 2023, with the ratio reaching a low of 0.15. A slight recovery occurred in 2024, with the ratio increasing to 0.18. The most significant increase occurred in 2025, rising to 0.28.
- Total Cash Assets
- Total cash assets decreased significantly from US$8,711 million in 2021 to US$4,749 million in 2022. A partial recovery was seen in 2023, with cash assets reaching US$6,215 million. Further increases were recorded in 2024 and 2025, reaching US$7,322 million and US$9,481 million respectively. This suggests a strengthening cash position in the later years of the period.
- Current Liabilities
- Current liabilities decreased from US$29,348 million in 2021 to US$27,887 million in 2022. However, a substantial increase was observed in 2023, rising to US$40,198 million. This increase was partially offset in 2024, with current liabilities decreasing to US$39,581 million. A further decrease occurred in 2025, falling to US$33,524 million. The fluctuations in current liabilities significantly impacted the cash ratio, particularly in conjunction with the changes in cash assets.
The interplay between decreasing current liabilities and increasing cash assets in 2025 contributed to the most substantial improvement in the cash ratio during the observed period. Conversely, the decrease in cash assets coupled with relatively stable current liabilities in 2022 and 2023 resulted in the lowest cash ratio values.