Comcast Corp. (CMCSA)
Communications · NASDAQ · US
Fundamentals
Valuation and ratings
Comcast Corp. trades at $24.10, which is 80% below the $43.35 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 72 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 4.6 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Comcast Corp.
Comcast Corporation operates as a media and technology company worldwide. The company operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. Its Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising. The Business Services Connectivity segment offers connectivity services for small business locations, which include broadband, wireline voice, and wireless services; and ethernet network services for medium-sized customers and larger enterprises. Its Media segment operates NBCUniversal's national and regional cable networks; the NBC and Telemundo broadcast networks and owned local broadcast television stations; and Peacock, a direct-to-consumer streaming services. The company also operates international television networks comprising the Sky Sports networks, as well as other digital properties. Its Studios segment operates NBCUniversal and Sky film and television studio production and distribution operations. The Theme Parks segment operates Universal theme parks in Orlando, Florida; Hollywood, California; Osaka, Japan; and Beijing, China. It also offers a consolidated streaming platforms under the Philadelphia Flyers and the Xfinity Mobile Arena in Philadelphia, Pennsylvania; and Xumo. Comcast Corporation was founded in 1963 and is headquartered in Philadelphia, Pennsylvania.
CMCSA passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
31 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Dodge & Cox, DODGE & COX$3.25B · 1.8% of book
- Capital Research Global, Capital Research Global Investors$2.57B · 0.4% of book
- Bill Nygren, HARRIS ASSOCIATES L P$1.52B · 1.1% of book
- First Eagle, First Eagle Investment Management, LLC$1.08B · 1.8% of book
- Boykin Curry, EAGLE CAPITAL MANAGEMENT LLC$1.08B · 3.6% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Comcast Corp. (CMCSA) undervalued?
Against our discounted cash flow estimate of $43.35, CMCSA at $24.10 is 80% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own CMCSA?
31 of the institutions we track reported a position in CMCSA in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is CMCSA's P/E ratio?
CMCSA trades at 4.6 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.