Historical source-based research. Compilation date and financial period are different dates.
Observation
Across 6 eligible communication services companies, the equal-weight median equity as a share of assets was 48.73% for the prior selected annual periods.
Data context
The eligible sample covers 6 of 8 selected companies. The prior selected annual periods span 2024-09-28 to 2024-12-31. Companies have different fiscal year ends. This is a cross-sectional research sample, not a calendar-year index or a representation of the full sector.
Company evidence
GOOGL 72.20% (period 2024-12-31); META 66.16% (period 2024-12-31); NFLX 46.14% (period 2024-12-31); DIS 51.32% (period 2024-09-28); TMUS 29.68% (period 2024-12-31); CMCSA 32.14% (period 2024-12-31).
Distribution
The sample range is 29.68% (TMUS) to 72.20% (GOOGL). The median is computed across company ratios with equal weight; it is not a ratio of aggregate totals. Extreme values can reflect a small denominator or unusual accounting items.
Interpretation
Advertising, subscriptions and connectivity produce very different revenue and cash-flow models. The numerator is shareholdersEquity; the denominator is total assets. Only positive denominators and disclosed numerators qualify. No missing value is replaced with zero.
What to watch
Advertising exposure, subscription economics, network investment and cash conversion.
Research limitations
Audience migration, content costs, competition, capital intensity and privacy regulation. The sample uses a September 18, 2026 source snapshot. It does not establish current market conditions, causal drivers or future returns. Sector labels are editorial and the financial-sector cash-flow measures need particular caution.
| Company | Value | Period end |
|---|---|---|
| GOOGL | 72.20% | 2024-12-31 |
| META | 66.16% | 2024-12-31 |
| NFLX | 46.14% | 2024-12-31 |
| DIS | 51.32% | 2024-09-28 |
| TMUS | 29.68% | 2024-12-31 |
| CMCSA | 32.14% | 2024-12-31 |
Sources & dates
- GOOGL · period 2024-12-31 ↗Source date 2026-02-05
- META · period 2024-12-31 ↗Source date 2026-01-29
- NFLX · period 2024-12-31 ↗Source date 2026-01-23
- DIS · period 2024-09-28 ↗Source date 2025-11-13
- TMUS · period 2024-12-31 ↗Source date 2026-02-11
- CMCSA · period 2024-12-31 ↗Source date 2026-02-03