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CMCSA trades against a final fair-value range of $91.52-$153.58, with the midpoint set by the accepted valuation synthesis rather than earlier draft model outputs. Fair value range: low $91.5, high $154, with mid-point at $121.
Stock analysis

CMCSA fair value $92–$154

By StockMarketAgent.AI team· supervised by
Đã phân tích: 2026-05-20Cập nhật tiếp theo: 2026-08-20Methodology v2.4Data cut-off: Quality gate: passSources: all material sources passed deterministic freshness/provenance gatesReview: automatedArchetype: Turnaround
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Giá
$24.80
▲ +95.95 (+386.90%)
Giá trị hợp lý
$121
$92–$154
Khuyến nghị
Mua mạnh
confidence 80/100
Tiềm năng tăng
+386.9%
upside to fair value
Biên an toàn
$102.64
MoS level · 15%
Vốn hóa thị trường
$88.6B
P/E fwd 6.5
Dự phòng tiếng AnhVI
Hiển thị bản gốc tiếng Anh trong khi đang dịch
Báo cáo này chưa được dịch. Hãy làm mới sau vài phút khi hàng đợi dịch xử lý xong.

§1 Tóm tắt điều hành

  • Composite fair value $121 with high case $154.
  • Implied upside of 386.9% to fair value.
  • Moat 6.5/10 · confidence 80/100 · Turnaround.
  • Trades below fair value with a meaningful cushion to the midpoint.
Fair value
$121
Margin of safety
+79.5%
Confidence
80/100
Moat
6.5/10

Educational analysis only — not financial advice. Always do your own due diligence.

$24.80Price
Low $91.52
Mid $120.75
High $153.58

CMCSA trades against a final fair-value range of $91.52-$153.58, with the midpoint set by the accepted valuation synthesis rather than earlier draft model outputs.

  • Incumbent broadband network infrastructure with
    Incumbent broadband network infrastructure with high replacement cost
  • Universal Theme Parks physical footprint
    Universal Theme Parks physical footprint and IP integration
  • Bull thesis
    The market views Comcast as functionally distressed, pricing it near 24.80 against an internal valuation cross-checks of 32.74.

§2 Kịch bản tiêu cực

A sustained macroeconomic downturn coupled with accelerated cord-cutting tests Comcast's highly leveraged balance sheet ($98.9B total debt). At an Altman Z-ScoreAltman Z-ScoreA composite bankruptcy-risk model. Above 3.0 is the safe zone; below 1.8 is the distress zone. Mostly relevant for capital-intensive non-financial firms. of 1.44, distress-adjacent risks materialize if operating cash flows break below maintenance capexMaintenance capexCapex required to sustain current revenue and capacity. Approximately equal to depreciation in steady-state. Subtracted from earnings in the owner-earnings construct. requirements (historically 11.5% of revenueRevenueRevenue is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, net income, or per-share earnings. It should be compared across periods and against peer disclosure conventions.), forcing dividend cuts or distressed asset sales.

Các cách luận điểm này có thể đổ vỡ

FWA Total Disruption

· Medium

Fixed Wireless Access permanently alters broadband pricing power, causing sustained subscriber losses and collapsing broadband margins.

FV impact
-40%
Trigger
12 to 24 months

Debt Maturity Squeeze

· Medium

Higher-for-longer interest rates force refinancing of the $98.9B debt load at punitive yields, overwhelming free cash flow generation.

FV impact
-55%
Trigger
24 to 36 months

Linear Runoff Acceleration

· High

Legacy video and broadcast revenue declines accelerate beyond the modeled 1.6% contraction, dragging consolidated enterprise EBITDA down structurally.

FV impact
-25%
Trigger
Immediate
Tín hiệu cảnh báo sớm cần theo dõi
Chỉ sốHiện tạiNgưỡng kích hoạt
Consolidated FCFF falling materially below the $25B baseline trajectory.MonitorDeterioration versus the report thesis
Maintenance capex structurally exceeding 11.5% of revenue to defend network.MonitorDeterioration versus the report thesis
Cost of equity rising above the modeled 7.4% due to balance sheet distress.MonitorDeterioration versus the report thesis
OCF to Net Income ratio contracting below historical 1.68x levels.MonitorDeterioration versus the report thesis
Peacock operating losses failing to narrow despite subscriber acquisition.MonitorDeterioration versus the report thesis

§3 Lịch sử tài chính

Báo cáo kết quả kinh doanh — sáu kỳ gần nhất
Khoản mụcT−0T−1T−2T−3CAGR
Kỳ2022-12-312023-12-312024-12-312025-12-31Trend
Doanh thu$121.43B$121.57B$123.73B$123.71B+0.6%
Lợi nhuận gộp$83.21B$84.81B$86.71B$88.76B+2.2%
Lợi nhuận hoạt động$22.62B$23.31B$23.30B$20.67B-3.0%
Lợi nhuận ròng$5.37B$15.39B$16.19B$20.00B+55.0%
EPS (pha loãng)$1.21$3.71$4.14$5.39+64.5%
EBITDA$27.00B$38.90B$37.61B$46.39B+19.8%
R&D—————
SG&A$8.51B$7.97B$8.07B$8.86B+1.4%

Điểm chất lượng

Điểm Piotroski F
8 / 9
Điểm chất lượng tổng hợp 0–9
Điểm Altman Z
1.45
Rủi ro phá sản (>3 an toàn)
Điểm Beneish M
-2.71
Rủi ro thao túng lợi nhuận
OCF / Lợi nhuận ròng
1.68×
>1 cho thấy chất lượng lợi nhuận cao
Cổng chất lượng kế toán
Pass
Cổng điều chỉnh theo ngành
ROIC
12.2%
Tỷ suất sinh lời trên vốn đầu tư
Phần 3

Numbers analysis

Dòng tiền

Cash-flow quality is reflected in the OCFOperating cash flowCash generated from the company's core operations after working-capital changes but before capital expenditures. The first line of the cash-flow statement. / net incomeNet IncomeNet Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, net income, or per-share earnings. It should be compared across periods and against peer disclosure conventions., accounting-quality, and ROICROICReturn on invested capital. Operating profit (after tax) divided by invested capital. The single best gauge of capital-efficiency. Spread over WACC = economic value created. rows above.

Phân bổ vốn

Capital allocation should be evaluated against reinvestment needs, balance-sheet strength, and shareholder returns.

Người đăng ký cá nhân — từ §411 phần nữa

Đọc phân tích đầy đủ — 11 phần nữa.

Competitive moat, industry cycle, peer comparison, intrinsic valuation, sensitivity, scenarios, earnings decision tree, position management, investor perspectives, scorecard, and final recommendation.

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REVENUE FAQ

CMCSA revenue questions

  1. CMCSA (CMCSA)'s revenue growth is reported year-over-year across the most recent five fiscal years, with the deceleration or acceleration curve called out in the numbers-analysis subsection of the parent financials tab.

FAQ

CMCSA — frequently asked questions

  1. Based on our latest analysis, CMCSA looks meaningfully undervalued. The current price is $24.8 versus a composite fair-value midpoint of $121 (range $91.5–$154), which implies roughly 386.9% upside to the midpoint.

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