Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Comcast Corp., liquidity ratios (quarterly data)
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).
The liquidity position, as indicated by the current, quick, and cash ratios, demonstrates a generally declining trend from the first quarter of 2022 through the fourth quarter of 2023. However, a partial recovery is observed in subsequent quarters, extending through the first half of 2025. The magnitude of the decline and subsequent recovery varies across the three ratios.
- Current Ratio
- The current ratio decreased consistently from 0.86 in March 2022 to a low of 0.60 in December 2023. A subsequent increase is noted, reaching 0.66 by June 2024 and stabilizing around 0.88 to 0.91 in the first half of 2025. This suggests an improving ability to cover short-term liabilities with short-term assets, following a period of weakening liquidity.
- Quick Ratio
- The quick ratio mirrors the trend of the current ratio, exhibiting a decline from 0.71 in March 2022 to 0.50 in December 2023. Similar to the current ratio, the quick ratio shows improvement from June 2024 onwards, peaking at 0.71 in June 2025. The quick ratio’s movement indicates fluctuations in the ability to meet short-term obligations with the most liquid assets, excluding inventory.
- Cash Ratio
- The cash ratio demonstrates the most pronounced decline, falling from 0.30 in March 2022 to 0.15 in December 2023. While it experiences some recovery, the increase is less substantial than that of the other two ratios, reaching 0.30 in June 2025. This suggests a more limited capacity to cover immediate liabilities with cash and cash equivalents, even with the observed improvement.
Overall, the observed patterns suggest a period of increasing liquidity pressure followed by a partial rebound. The recovery, while present, is more pronounced in the current and quick ratios than in the cash ratio, indicating that the improvement is driven more by changes in current assets rather than a significant increase in readily available cash.
Current Ratio
Comcast Corp., current ratio calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | 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 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||
| Current assets | 29,567) | 28,857) | 29,036) | 27,314) | 26,801) | 27,186) | 23,452) | 23,978) | 23,987) | 24,141) | 24,922) | 22,377) | 21,826) | 23,416) | 24,192) | 25,381) | |||||
| Current liabilities | 33,524) | 32,702) | 31,792) | 42,325) | 39,581) | 37,786) | 35,342) | 40,324) | 40,198) | 34,468) | 32,925) | 32,415) | 27,887) | 27,999) | 27,585) | 29,657) | |||||
| Liquidity Ratio | |||||||||||||||||||||
| Current ratio1 | 0.88 | 0.88 | 0.91 | 0.65 | 0.68 | 0.72 | 0.66 | 0.59 | 0.60 | 0.70 | 0.76 | 0.69 | 0.78 | 0.84 | 0.88 | 0.86 | |||||
| Benchmarks | |||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||
| Alphabet Inc. | 2.01 | 1.75 | 1.90 | 1.77 | 1.84 | 1.95 | 2.08 | 2.15 | 2.10 | 2.04 | 2.17 | 2.35 | 2.38 | 2.52 | 2.81 | 2.87 | |||||
| Meta Platforms Inc. | 2.60 | 1.98 | 1.97 | 2.66 | 2.98 | 2.73 | 2.83 | 2.68 | 2.67 | 2.57 | 2.32 | 2.07 | 2.20 | 2.57 | 2.52 | 2.81 | |||||
| Netflix Inc. | 1.19 | 1.33 | 1.34 | 1.20 | 1.22 | 1.13 | 0.95 | 1.07 | 1.12 | 1.29 | 1.33 | 1.26 | 1.17 | 1.14 | 1.05 | 1.05 | |||||
| Trade Desk Inc. | — | 1.71 | 1.71 | 1.81 | 1.86 | 1.85 | 1.80 | 1.79 | 1.72 | 1.87 | 1.87 | 1.90 | 1.90 | 1.91 | 1.92 | 1.91 | |||||
| Walt Disney Co. | 0.71 | 0.72 | 0.67 | 0.68 | 0.73 | 0.72 | 0.75 | 0.84 | 1.05 | 1.07 | 1.01 | 0.99 | 1.00 | 1.02 | 1.06 | 1.10 | |||||
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).
1 Q4 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 a generally declining trend from the first quarter of 2022 through the fourth quarter of 2023, followed by a period of fluctuation and modest improvement. Initial values indicated a relatively stable, though somewhat constrained, liquidity position. Subsequent periods reveal increasing pressure on short-term liquidity before a notable shift in the latter half of the observed timeframe.
- Overall Trend
- Beginning at 0.86 in March 2022, the current ratio initially showed slight variability, peaking at 0.88 in June 2022 before decreasing to 0.78 by December 2022. This downward trajectory continued into 2023, reaching a low of 0.60 in December 2023. A significant increase to 0.91 was observed in March 2024, followed by a slight decline to 0.88 in September 2025, indicating a potential stabilization at a higher level than previously seen.
- Short-Term Decline (Q1 2022 - Q4 2023)
- The period between March 2022 and December 2023 demonstrates a consistent erosion of the current ratio. This suggests a relative increase in short-term obligations compared to available current assets. The most substantial decrease occurred between September 2023 (0.70) and December 2023 (0.60), indicating a potentially significant shift in the company’s short-term financial position during that quarter.
- Recent Improvement (Q1 2024 - Q3 2025)
- Starting in March 2024, the current ratio experienced a substantial increase to 0.91, representing a considerable improvement in short-term liquidity. While fluctuating between 0.88 and 0.91 over the subsequent quarters, the ratio remained above the levels observed throughout 2022 and 2023. This suggests successful strategies to bolster current assets or manage current liabilities.
- Quarterly Variability
- Despite the overall trends, quarterly fluctuations were present. For example, the ratio increased from 0.66 in March 2024 to 0.72 in September 2024, then decreased to 0.68 in December 2024. These variations suggest that short-term liquidity is subject to seasonal or operational factors. The consistency of the ratio around 0.88 in the final two quarters suggests a potential new equilibrium.
In conclusion, the current ratio indicates a period of weakening short-term liquidity followed by a recent and notable recovery. The improvement observed in 2024 and 2025 suggests positive adjustments to the company’s short-term financial management.
Quick Ratio
Comcast Corp., quick ratio calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | 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 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||
| Cash and cash equivalents | 9,481) | 9,325) | 9,687) | 8,593) | 7,322) | 8,814) | 6,065) | 6,515) | 6,215) | 6,435) | 7,146) | 5,535) | 4,749) | 5,695) | 6,822) | 8,880) | |||||
| Receivables, net | 13,869) | 13,214) | 13,040) | 12,881) | 13,661) | 14,036) | 13,167) | 13,144) | 13,813) | 12,835) | 12,980) | 12,287) | 12,672) | 11,918) | 11,956) | 12,300) | |||||
| Total quick assets | 23,350) | 22,539) | 22,727) | 21,474) | 20,983) | 22,850) | 19,232) | 19,659) | 20,028) | 19,270) | 20,126) | 17,822) | 17,421) | 17,613) | 18,778) | 21,180) | |||||
| Current liabilities | 33,524) | 32,702) | 31,792) | 42,325) | 39,581) | 37,786) | 35,342) | 40,324) | 40,198) | 34,468) | 32,925) | 32,415) | 27,887) | 27,999) | 27,585) | 29,657) | |||||
| Liquidity Ratio | |||||||||||||||||||||
| Quick ratio1 | 0.70 | 0.69 | 0.71 | 0.51 | 0.53 | 0.60 | 0.54 | 0.49 | 0.50 | 0.56 | 0.61 | 0.55 | 0.62 | 0.63 | 0.68 | 0.71 | |||||
| Benchmarks | |||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||
| Alphabet Inc. | 1.85 | 1.56 | 1.72 | 1.60 | 1.66 | 1.76 | 1.90 | 1.98 | 1.94 | 1.87 | 2.02 | 2.20 | 2.22 | 2.29 | 2.62 | 2.72 | |||||
| Meta Platforms Inc. | 2.42 | 1.67 | 1.71 | 2.50 | 2.82 | 2.57 | 2.69 | 2.55 | 2.55 | 2.43 | 2.20 | 1.91 | 2.01 | 2.34 | 2.34 | 2.62 | |||||
| Netflix Inc. | 0.83 | 0.96 | 0.94 | 0.86 | 0.89 | 0.86 | 0.66 | 0.76 | 0.81 | 0.94 | 0.99 | 0.94 | 0.76 | 0.79 | 0.78 | 0.78 | |||||
| Trade Desk Inc. | — | 1.64 | 1.68 | 1.79 | 1.83 | 1.81 | 1.75 | 1.77 | 1.69 | 1.84 | 1.84 | 1.87 | 1.87 | 1.88 | 1.87 | 1.85 | |||||
| Walt Disney Co. | 0.55 | 0.57 | 0.54 | 0.55 | 0.54 | 0.53 | 0.57 | 0.69 | 0.85 | 0.87 | 0.83 | 0.83 | 0.83 | 0.87 | 0.91 | 0.98 | |||||
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).
1 Q4 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 for the analyzed period demonstrates a fluctuating pattern, generally indicating a decreasing ability to meet short-term obligations with highly liquid assets, followed by a recent improvement. Initial values suggest a moderate level of liquidity, which subsequently declined before showing signs of recovery in later periods.
- Overall Trend
- From March 31, 2022, to December 31, 2022, the quick ratio experienced a consistent decline from 0.71 to 0.50. This suggests a weakening in the company’s ability to cover its immediate liabilities with readily available assets. The ratio then remained relatively stable through March 31, 2024, fluctuating between 0.49 and 0.55. A notable increase is observed from March 31, 2025, reaching 0.71 and 0.70 in the subsequent two quarters, indicating a strengthening liquidity position.
- Short-Term Decline (2022-2023)
- The period between March 2022 and December 2022 witnessed a consistent decrease in the quick ratio. This coincided with relatively stable total quick assets and an increase in current liabilities. The decline suggests that current liabilities were growing at a faster rate than quick assets, potentially indicating increased short-term financing needs or a slowdown in the conversion of inventory and receivables into cash.
- Stabilization and Recovery (2023-2025)
- Following the decline, the quick ratio stabilized for several quarters before exhibiting a positive trend starting in March 2025. This improvement appears to be driven by a combination of factors, including an increase in total quick assets and a decrease in current liabilities, particularly evident in the June and September 2025 values. The increase in quick assets suggests improved liquidity management or a change in asset composition. The decrease in current liabilities could be attributed to debt repayment or improved management of short-term obligations.
- Quarterly Variations
- Seasonal or cyclical variations may contribute to the observed fluctuations. For example, the increase in quick assets during June 30, 2023, and June 30, 2025, could be linked to specific business cycles or revenue recognition patterns. Further investigation into the underlying components of quick assets and current liabilities is recommended to understand these variations fully.
In conclusion, the quick ratio indicates a period of declining liquidity followed by a recent recovery. While the ratio remains below the initial levels observed in 2022, the upward trend in the most recent quarters suggests improved short-term financial health.
Cash Ratio
Comcast Corp., cash ratio calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | 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 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||
| Cash and cash equivalents | 9,481) | 9,325) | 9,687) | 8,593) | 7,322) | 8,814) | 6,065) | 6,515) | 6,215) | 6,435) | 7,146) | 5,535) | 4,749) | 5,695) | 6,822) | 8,880) | |||||
| Total cash assets | 9,481) | 9,325) | 9,687) | 8,593) | 7,322) | 8,814) | 6,065) | 6,515) | 6,215) | 6,435) | 7,146) | 5,535) | 4,749) | 5,695) | 6,822) | 8,880) | |||||
| Current liabilities | 33,524) | 32,702) | 31,792) | 42,325) | 39,581) | 37,786) | 35,342) | 40,324) | 40,198) | 34,468) | 32,925) | 32,415) | 27,887) | 27,999) | 27,585) | 29,657) | |||||
| Liquidity Ratio | |||||||||||||||||||||
| Cash ratio1 | 0.28 | 0.29 | 0.30 | 0.20 | 0.18 | 0.23 | 0.17 | 0.16 | 0.15 | 0.19 | 0.22 | 0.17 | 0.17 | 0.20 | 0.25 | 0.30 | |||||
| Benchmarks | |||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||
| Alphabet Inc. | 1.23 | 0.99 | 1.09 | 1.04 | 1.07 | 1.15 | 1.29 | 1.40 | 1.36 | 1.39 | 1.52 | 1.67 | 1.64 | 1.76 | 2.04 | 2.16 | |||||
| Meta Platforms Inc. | 1.95 | 1.20 | 1.26 | 2.07 | 2.32 | 2.13 | 2.15 | 2.07 | 2.05 | 2.00 | 1.79 | 1.48 | 1.51 | 1.84 | 1.82 | 2.08 | |||||
| Netflix Inc. | 0.83 | 0.96 | 0.94 | 0.86 | 0.89 | 0.86 | 0.66 | 0.76 | 0.81 | 0.94 | 0.99 | 0.94 | 0.76 | 0.79 | 0.78 | 0.78 | |||||
| Trade Desk Inc. | — | 0.48 | 0.57 | 0.65 | 0.67 | 0.66 | 0.60 | 0.62 | 0.55 | 0.71 | 0.70 | 0.73 | 0.71 | 0.74 | 0.73 | 0.71 | |||||
| Walt Disney Co. | 0.17 | 0.16 | 0.17 | 0.16 | 0.17 | 0.17 | 0.20 | 0.23 | 0.46 | 0.41 | 0.37 | 0.31 | 0.40 | 0.42 | 0.45 | 0.48 | |||||
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).
1 Q4 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 for the analyzed period demonstrates fluctuations, generally indicating a moderate ability to meet short-term obligations with highly liquid assets. An initial decline is observed, followed by periods of relative stability and subsequent increases.
- Overall Trend
- The cash ratio began at 0.30 in March 2022 and generally decreased through December 2022, reaching a low of 0.17. A subsequent recovery commenced in March 2023, with the ratio oscillating between 0.17 and 0.23 for several quarters. A more pronounced increase is evident from March 2024 onwards, peaking at 0.30 in June 2025, before settling at 0.28 by December 2025.
- Short-Term Decline (Mar 31, 2022 – Dec 31, 2022)
- From March 2022 to December 2022, the cash ratio experienced a consistent downward trend. This suggests a relative decrease in the proportion of current liabilities covered by immediately available cash during this period. Total cash assets decreased from US$8,880 million to US$4,749 million, while current liabilities remained relatively stable around US$28-30 billion.
- Stabilization and Moderate Recovery (Mar 31, 2023 – Dec 31, 2023)
- The period from March 2023 to December 2023 shows a stabilization and modest recovery in the cash ratio. While fluctuations occurred, the ratio generally remained between 0.15 and 0.22. Total cash assets increased somewhat, but current liabilities also saw increases, particularly in the final quarter of 2023, reaching US$40,198 million.
- Recent Improvement (Mar 31, 2024 – Dec 31, 2025)
- The most recent portion of the analyzed period demonstrates a clear improvement in the cash ratio. The ratio increased from 0.16 in March 2024 to 0.30 in June 2025, indicating a strengthening of the company’s immediate liquidity position. This improvement coincides with increases in total cash assets, which rose to US$9,481 million by December 2025, while current liabilities remained relatively stable.
- Cash Asset and Liability Relationship
- Throughout the period, current liabilities consistently exceeded total cash assets. The magnitude of this difference varied, influencing the cash ratio. The largest gap occurred in December 2023, while the smallest gap was observed in June 2025, reflecting the improved cash position at that time.