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Comcast Corp Class A CMCSA

Morningstar Rating
$42.77 +0.61 (1.45%)
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Company Report

Rational Broadband Competition Lends Comcast Stability as Its Media Strategy Evolves

Comcast’s core cable business enjoys significant competitive advantages but has seen growth slow as fixed-wireless offerings have provided a viable option for a subset of customers. NBCUniversal isn’t as well positioned but holds unique assets, including core content franchises and theme parks. We don’t love the firm’s strategy around Peacock, but we expect NBCU’s assets will play a significant role in the media landscape of the future. Overall, we expect Comcast will deliver only modest growth but with strong cash flow for the foreseeable future.

Price vs Fair Value

CMCSA is trading at a 30% discount.
Price
$42.15
Fair Value
$58.00
Uncertainty
Medium
1-Star Price
$94.00
5-Star Price
$43.00
Economic Moat
Cgp
Capital Allocation
Hbknljtm

Bulls Say, Bears Say

Bulls

Comcast’s cable networks provide a platform to easily meet customers’ growing bandwidth demands, which should drive steady market share gains, ensuring that recurring revenue and cash flow remain strong.

Bears

Comcast’s businesses are heavily exposed to the traditional TV model. As more consumers turn to online alternatives, the firm will struggle to post any revenue growth in either of its two primary segments, the U.S. cable and media businesses.

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News

Trading Information

Previous Close Price
$42.16
Day Range
$42.4742.93
52-Week Range
$34.6447.45
Bid/Ask
$42.76 / $42.77
Market Cap
$169.86 Bil
Volume/Avg
3.3 Mil / 19.4 Mil

Key Statistics

Price/Earnings (Normalized)
10.62
Price/Sales
1.44
Dividend Yield (Trailing)
2.75%
Dividend Yield (Forward)
2.94%
Total Yield
9.50%

Company Profile

Comcast is made up of three parts. The core cable business owns networks capable of providing television, internet access, and phone services to 62 million U.S. homes and businesses, or nearly half of the country. About 55% of the homes in this territory subscribe to at least one Comcast service. Comcast acquired NBCUniversal from General Electric in 2011. NBCU owns several cable networks, including CNBC, MSNBC, and USA, the NBC broadcast network, the Peacock streaming platform, several local NBC affiliates, Universal Studios, and several theme parks. Sky, acquired in 2018, is the dominant television provider in the U.K. and has invested heavily in proprietary content to build this position. Sky is also the largest pay-television provider in Italy and has a presence in Germany and Austria.
Sector
Communication Services
Industry
Telecom Services
Stock Style Box
Large Value
Total Number of Employees
186,000

Competitors

Valuation

Metric
CMCSA
DIS
VZ
Price/Earnings (Normalized)
10.6227.708.51
Price/Book Value
2.032.021.84
Price/Sales
1.442.281.26
Price/Cash Flow
6.3616.134.48
Price/Earnings
CMCSA
DIS
VZ

Financial Strength

Metric
CMCSA
DIS
VZ
Quick Ratio
0.500.690.51
Current Ratio
0.600.840.69
Interest Coverage
6.013.374.01
Quick Ratio
CMCSA
DIS
VZ

Profitability

Metric
CMCSA
DIS
VZ
Return on Assets (Normalized)
6.32%4.22%4.66%
Return on Equity (Normalized)
19.98%8.71%18.99%
Return on Invested Capital (Normalized)
10.60%5.86%7.89%
Return on Assets
CMCSA
DIS
VZ
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