Using the ratios you just calculated, compare and contrast the two companies valuations in terms of their market to book and price to earnings ratios. This should be no more than 300 words (and 200 is totally acceptable as well).

Netflix 12/31/2020 0.04 0.000164474 Comcast 12/31/2020 491.43 0.004385965 MTB PE 2. Using the ratios you just calculated, compare and contrast the two companies' valuations in terms of their market to book and price to earnings ratios. This should be no more than 300 words (and 200 is totally acceptable as well). 11% ROE ROA PM AT FL 25% 7% 18% 68% 1.47 4% -28% 39% 1.13 $ 0.001 $ 0.01 Data Common stock, par value (in USD per share) Common stock, shares outstanding (in shares) Total assets Total liabilities Diluted (in USD per share) Net income Revenues 442,895,261 39,280,359 28,215,119 6.08 2,761,395 24,996,056 4,571,211,797 273,869 180,851 $ 2.28 10,534 103,564 $ Dec. 31, 202 Dec. 31, 201 Dec. 31, 2018 Labels Cash and cash equivalents Other current assets $ 8,205,550 1,556,030 9,761,580 25,383,950 960,183 3,174,646 39,280,359 $ 5,018,437 1,160,067 6,178,504 24,504,567 565,221 2,727,420 33,975,712 Content assets, net Property and equipment, net Other non-current assets 25,974,400 Consolidated Balance Sheets - USD ($) $ in Thousands Current assets: Cash and cash equivalents Other current assets Total current assets Content assets, net Property and equipment, net Other non-current assets Total assets Current liabilities: Current content liabilities Accounts payable Accrued expenses and other liabilities Deferred revenue Short-term debt Total current liabilities Non-current content liabilities Long-term debt 4,413,561 674,347 843,043 924,745 Current content liabilities Accounts payable Accrued expenses and other liabilities Deferred revenue Short-term debt 0 4,429,536 656,183 1,102,196 1,117,992 499,878 7,805,785 2,618,084 15,809,095 18,427,179 1,982,155 28,215,119 6,855,696 3,334,323 14,759,260 18,093,583 1,444,276 26,393,555 Long-term debt Other non-current liabilities 20,735,635 Commitments and contingencies 0 0 Preferred stock Other non-current liabilities Total liabilities Commitments and contingencies Stockholders' equity: Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2020 and 2019; no shares issued and outstanding at December 31, 2020 and 2019 Common stock, 0.001 par value; 4,990,000,000 shares authorized at December 31, 2020 and December 31, 2019, respectively; 442,895,261 and 438,806,649 issued and outstanding at December 31, 2020 and December 31, 2019, respectively Accumulated other comprehensive income (loss) 3,447,698 2,793,929 Common stock 44,398 (23,521) Accumulated other comprehensive income (loss) Retained earnings Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 7,573,144 11,065,240 $ 39,280,359 4,811,749 7,582,157 $ 33,975,712 5,238,765 $ 0.001 10,000,000 0 $ 0.001 10,000,000 0 Statement of Financial Position [Abstract] Preferred stock, par value in USD per share) Preferred stock, shares authorized (in shares) Preferred stock, shares issued in shares) Preferred stock, shares outstanding (in shares) Common stock, par value in USD per share) Common stock, shares authorized (in shares) Common stock, shares issued (in shares) Common stock, shares outstanding (in shares) 0 $ 0.001 4,990,000,000 442,895,261 442,895,261 0 $ 0.001 4,990,000,000 438,806,649 438,806,649 Dec. 31, 207, Dec. 31, 2012 Dec. 31, 2018 Labels Consolidated Balance Sheet - USD ($) $ in Millions Current Assets: Cash and cash equivalents Receivables, net Programming rights Other current assets Cash and cash equivalents $ 11,740 11,466 Other current assets Content assets, net Total current assets Film and television costs Investments Investment securing collateralized obligation 3,535 15,001 26,741 13,340 zo 7,820 . 447 8,267 51,995 70,669 59,365 35,389 94,754 8,103 $ 5,500 11,292 3,877 4,723 10 902 19,892 2 203 25,392 8,933 6,989 694 7 22 7,683 48,322 68,725 59,365 36,128 26 120 95,493 8,866 263,414 251,684 Investments Property and equipment, net Goodwill Property and equipment, net Goodwill Franchise rights Other intangible assets, net Other intangible assets, net Other non-current assets 273,869 Other noncurrent assets, net Total assets Current Liabilities: Accounts payable and accrued expenses related to trade creditors Accrued participations and residuals Doce Deferred revenue Accrued expenses and other current liabilities Current portion of long-term debt Total current liabilities Long-term debt, less current portion Collateralized obligation Accounts payable Current content liabilities Deferred revenue Accrued expenses and other liabilities Short-term debt 11,364 1705 1,706 2,963 0617 9,617 2440 3,146 28,796 28-706 69 100,614 5,168 105,782 28,051 18,222 46.273 180,851 10,826 1,730 2200 2,768 1014 10,516 250 4,452 2020 30,292 022CE 97,765 5,166 102,931 28,180 16,765 44,945 178,168 Long-term debt Deferred income taxes Other noncurrent liabilities Other non-current liabilities 179,182 1,280 1,372 Commitments and contingencies Redeemable noncontrolling interests and redeemable subsidiary preferred stock Total Liabilities Commitments and contingencies Redeemable noncontrolling interests and redeemable subsidiary preferred stock Equity: Preferred stock Common stock Additional paid-in capital Preferred stock 0 54 39,464 39,518 56,438 (7,517) 1,004 1,884 0 54 38,447 38.501 50,695 (7,517) 1,047 Retained earnings Treasury stock Accumulated other comprehensive income (loss) Common stock Retained earnings Treasury stock Accumulated other comprehensive income (loss) 71,613 Total Comcast Corporation shareholders' equity Noncontrolling interests Total equity Total liabilities and equity 90,323 1,415 91,738 273,869 82,726 1,148 83,874 263,414 Noncontrolling interests 72,502 20,000,000 0 872,791,028 20,000,000 0 872,791,028 Preferred stock, shares authorized (in shares) Preferred stock, shares issued (in shares) Treasury stock (in shares) Class A Common Stock [Member] nem Common stock, par value in dollars per share) Common stock, shares authorized (in shares) Common stock, shares issued in shares) Common stock, shares outstanding (in shares) Class B Common Stock [Member] Common stock, par value in dollars per share) Common stock, shares authorized (in shares) Common stock, shares issued (in shares) Common stock, shares outstanding (in shares) $ 0.01 $ 0.01 7,500,000,000 7,500,000,000 5,444,002,825 5,416,381,298 4,571,211,797 4,543,590,270 $ 0.01 75,000,000 9,444,375 9,444,375 $ 0.01 75,000,000 9,444,375 9,444,375 12 Months Ended Dec. 31, 2020 Dec. 31, 2019 Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands Revenues Cost of revenues Marketing Technology and development General and administrative $ 24,996,056 15,276,319 2,228,362 1,829,600 1,076,486 2,906,086 4,585,289 $ 20,156,447 12,440,213 2,652,462 1,545,149 914,369 2,459,518 2,604,254 Dec. 31, 2018 Labels $ 15,794,341 Revenue 9,967,538 Programming and production 2,369,469 Advertising, marketing and promotion 1,221,814 630,294 1,852,108 General and administrative 1,605,226 Operating income Other income (expense): Interest expense Interest and other income (expense) Income before income taxes Provision for income taxes Net income (767,499) (618,441) 3,199,349 (437,954) $ 2,761,395 (626,023) 84,000 2,062,231 (195,315) $ 1,866,916 (420,493) Interest expense 41,725 Investment and other income (loss), net 1,226,458 (15,216) Income tax (expense) benefit $1,211,242 $6.26 $6.08 $ 4.26 $4.13 $ 2.78 $ 2.68 Earnings per share: Basic (in USD per share) Diluted in USD per share) Weighted average common shares outstanding: Basic (in shares) Diluted (in shares) 440,922 454,208 437,799 451,765 435,374 451,244 12 Months Ended Dec. 31, 2020 Dec. 31, 2017 Dec. 31, 201 - Labels $ 103,564.00 $ 108,942 $ 94,507 Revenue Consolidated Statement of Income - USD ($) $ in Millions Revenue Costs and Expenses: Programming and production Other operating and administrative Advertising, marketing and promotion Depreciation Amortization Other operating gains 34,440 32,807 7,617 8,663 4,290 33,121 33,109 6,741 8,320 4,780 0 46,209 17,493 (4,588) 1,160 14,065 (3,364) 10,701 167 Operating income (loss) Interest expense Investment and other income (loss), net Income before income taxes Income tax (expense) benefit Net income Less: Net income attributable to noncontrolling interests and redeemable subsidiary preferred stock Net income attributable to Comcast Corporation 0 45,760 21,125 (4,567) 438 16,996 (3,673) 13,323 266 29,692 Programming and production 28,094 7,036 Advertising, marketing and promotion 8,281 2,736 (341) 38,770 General and administrative 19,009 (3,542) Interest expense (225) Investment and other income (loss), net 15,242 Income before income taxes (3,380) Income tax (expense) benefit 11,862 Net income 131 Less: Net income attributable to noncontrolling interests $ 11,731 Net income attributable to Parent company $ 10,534.00 $ 13,057 $ 2.30 $ 2.87 $ 2.56 Basic earnings per common share attributable to Comcast Corporation shareholders (in dollars per share) Diluted earnings per common share attributable to Comcast Corporation shareholders (in dollars per share) $ 2.28 $ 2.83 $ 2.53 12 Months Ended Dec. 31, 2016 Dec. 31, 2020 Dec. 31, 201 $ 2,761,395 $ 1,866,916 $1,211,242 (11,779,284) (757,433) 10,806,912 115,710 415,180 533,278 293,126 70,066 (13,916,683) (694,011) 9,216,247 103,579 405,376 (45,576) 228,230 (94,443) (13,043,437) 999,880 7,532,088 83,157 320,657 (73,953) 81,640 (85,520) Consolidated Statements of Cash Flows - USD ($) $ in Thousands Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by (used in) operating activities: Additions to content assets Change in content liabilities Amortization of content assets Depreciation and amortization of property, equipment and intangibles Stock-based compensation expense Foreign currency remeasurement loss (gain) on debt Other non-cash items Deferred income taxes Changes in operating assets and liabilities: Other current assets Accounts payable Accrued expenses and other liabilities Deferred revenue Other non-current assets and liabilities Net cash provided by (used in) operating activities Cash flows from investing activities: Purchases of property and equipment Change in other assets Net cash used in investing activities Cash flows from financing activities: Proceeds from issuance of debt Debt issuance costs Proceeds from issuance of common stock Other financing activities Net cash provided by financing activities Effect of exchange rate changes on cash, cash equivalents and restricted cash Net increase in cash, cash equivalents and restricted cash Cash and cash equivalents, beginning of year Cash, cash equivalents and restricted cash, end of year Supplemental disclosure: Income taxes paid Interest paid (187,623) (41,605) 198,183 193,247 (194,075) 2,427,077 (252,113) 96,063 157,778 163,846 (122,531) (2,887,322) (200,192) 199,198 150,422 142,277 2,062 (2,680,479) (497,923) (7,431) (505,354) (253,035) (134,029) (387,064) (173,946) (165,174) (339,120) 1,009,464 (7,559) 235,406 0 1,237,311 36,050 3,195,084 5,043,786 8,238,870 4,469,306 (36,134) 72,490 0 4,505,662 469 1,231,745 3,812,041 5,043,786 3,961,852 (35,871) 124,502 (1,956) 4,048,527 (39,682) 989,246 2,822,795 3,812,041 291,582 $ 762,904 400,658 $ 599,132 131,069 $375,831 12 Months Ended Dec. 31, 201 Dec. 31, 2020 Dec. 31, 201 $ 10,701 $ 13,323 $ 11,862 Consolidated Statement of Cash Flows - USD ($) $ in Millions Operating Activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization and other operating gains Share-based compensation Noncash interest expense (income), net Net (gain) loss on investment activity and other Deferred income taxes Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: 10,676 826 13,100 1,193 697 (970) (550) 12,953 1,021 417 (20) 563 364 576 290 (20) (244) (266) 1,096 24,737 (57) (929) (347) (1,227) 25,697 (802) (395) (394) 1,294 24,297 Current and noncurrent receivables, net Film and television costs, net Accounts payable and accrued expenses related to trade creditors Other operating assets and liabilities Net cash provided by operating activities Investing Activities Capital expenditures Cash paid for intangible assets Construction of Universal Beijing Resort Purchase of spectrum Acquisitions, net of cash acquired Proceeds from sales of businesses and investments Purchases of investments Other Net cash provided by (used in) investing activities Financing Activities Proceeds from (repayments of short-term borrowings, net Proceeds from borrowings Proceeds from collateralized obligation Repurchases and repayments of debt Repurchases of common stock under repurchase program and employee plans Dividends paid Other Net cash provided by (used in) financing activities Impact of foreign currency on cash, cash equivalents and restricted cash Increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash, beginning of year Cash, cash equivalents and restricted cash, end of year (9,179) (2,455) (1,498) (459) (233) 2,339 (812) 250 (12,047) (9,953) (2,475) (1,116) 0 (370) 886 (1,899) 86 (14,841) (9,774) (1,935) (460) 0 (38,219) 141 (1,257) 650 (50,854) 0 18,644 0 (18,777) (534) (4,140) (1,706) (6,513) 2 6,179 5,589 $ 11,768 (1,288) 5,479 5,175 (14,354) (504) (3,735) 46 (9,181) 5 1,680 3,909 $5,589 379 44,781 0 (8,798) (5,320) (3,352) (550) 27,140 (245) 338 3,571 $ 3,909 Total Common Stock in Share Common Stock and Accumulated Other Additional Paid-in Capit Comprehensive Income (Los $ 1,871,396 $ (20,557) Retained Earning, $ 1,731,117 $3,581,956 433,392,686 1,211,242 975 3,205,911 1,211,242 $ 975 3,205,911 $ 123,935 320,657 $ 5,238,765 $ 123,935 $ 320,657 $ 2,315,988 436,598,597 (19,582) 2,942,359 $ 2,474 Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands Beginning Balance at Dec. 31, 2017 Increase (Decrease) in Stockholders' Equity [Roll Forward] Net income Other comprehensive income (loss) Issuance of common stock upon exercise of options in shares) Issuance of common stock upon exercise of options Stock-based compensation expense Ending Balance at Dec. 31, 2018 Cumulative Effect, Period of Adoption, Adjustment Increase (Decrease) in Stockholders' Equity [Roll Forward] Net income Other comprehensive income (loss) Issuance of common stock upon exercise of options in shares) Issuance of common stock upon exercise of options Stock-based compensation expense Ending Balance at Dec. 31, 2019 Increase (Decrease) in Stockholders' Equity [Roll Forward] Net income Other comprehensive income (loss) Issuance of common stock upon exercise of options (in shares) Issuance of common stock upon exercise of options Stock-based compensation expense Ending Balance at Dec. 31, 2020 1,866,916 (3,939) 2,208,052 $ 1,866,916 $ (3,939) 2,208,052 $ 72,565 405,376 7,582,157 $ 72,565 $ 405,376 $ 2,793,929 438,806,649 (23,521) 4,811,749 2,761,395 67,919 4,088,612 2,761,395 $67,919 4,088,612 $ 238,589 415,180 $ 11,065,240 $ 238,589 $415,180 $3,447,698 442,895,261 $ 44,398 $ 7,573,144 Consolidated Statement of Changes in Equity - USD ($) $ in Millions Total Class A Class B Common Stock Common Stock Additional Paid- in Capital Retained Earnings Treasury Stock Accumulated Other Comprehensive Income (Loss) Noncontrolling Interests $ 69,459 $ 55 $0 $ 37,497 $ 38,202 $ (43) $(7,517) $ 843 $ 379 $ 76 (1) 607 (920) 214 (4,408) (3,499) (823) (41) 294 (280) 63 $ 11,731 $ 72,502 0 11,731 41,983 73 889 54 0 37,461 $ (7,517) (368) 0 783 (34) 222 (485) Beginning balance at Dec. 31, 2017 Cumulative Effect, Period of Adoption, Adjustment Increase (Decrease) in Stockholders' Equity [Roll Forward] Stock compensation plans Repurchases of common stock under repurchase program and employee plans Employee stock purchase plans Dividends declared Other comprehensive income (loss) Contributions from (distributions to) noncontrolling interests, net Other Net income (loss) Ending balance at Dec. 31, 2018 Increase (Decrease) in Stockholders' Equity [Roll Forward] Stock compensation plans Repurchases of common stock under repurchase program and employee plans Employee stock purchase plans Dividends declared Other comprehensive income (loss) Contributions from (distributions to) noncontrolling interests, net Other Net income (loss) Ending balance at Dec. 31, 2019 Cumulative Effect, Period of Adoption, Adjustment Increase (Decrease) in Stockholders' Equity [Roll Forward] Stock compensation plans Repurchases of common stock under repurchase program and employee plans Employee stock purchase plans Dividends declared Other comprehensive income (loss) Contributions from (distributions to) noncontrolling interests, net Other Net income (loss) Ending balance at Dec. 31, 2020 (3,860) 1,415 (13) 176 15 13,057 $ 83,874 0 13,057 50,695 $ (124) 110 1,148 54 0 38,447 (7,517) 1,047 0 920 (143) 255 (407) (4,250) 837 (15) 60 192 (3) 18 $ 1,415 (10) 10,534 $ 56,438 10,534 $ 91,738 $ 54 $0 $ 39,464 $ (7,517) $ 1,884 12 Months Ended Dec. 31, 201 Dec. 31, 2020 Dec. 31, 201 $ 2,761,395 $ 1,866,916 $ 1,211,242 Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands Statement of Comprehensive Income [Abstract] Net income Other comprehensive income (loss): Foreign currency translation adjustments Comprehensive income 975 67,919 $ 2,829,314 (3,939) $ 1,862,977 $ 1,212,217 12 Months Ended Dec. 31, 2020 Dec. 31, 201 $ 10,701 $ 13,323 1,213 1,375 Dec. 31, 2011 $ 11,862 (916) 19 50 (101) (147) 65 (6) Consolidated Statement of Comprehensive Income - USD ($) $ in Millions Net income Currency translation adjustments, net of deferred taxes of $(331), $(66) and $9 Cash flow hedges: Deferred gains (losses), net of deferred taxes of $26, $(4) and $(3) Realized (gains) losses reclassified to net income, net of deferred taxes of $31, $(10) and $(4) Employee benefit obligations and other, net of deferred taxes of $20, $16 and $(3) Comprehensive income Less: Net income attributable to noncontrolling interests and redeemable subsidiary preferred stock Less: Other comprehensive income (loss) attributable to noncontrolling interests Comprehensive income attributable to Comcast Corporation (68) 11,598 167 (57) 14,725 266 8 10,998 131 60 $ 11,371 (13) $ 14,472 (41) $ 10,908