Comcast Corporation (CMCSA) Intrinsic Value & DCF Valuation
Telecommunications Services · NASDAQ
Current Price
$24.61
Intrinsic Value
$35.17
+30.0% margin of safety
What Is Comcast Corporation's Intrinsic Value?
As of 2026-07-29, the base-case DCF model estimates the intrinsic value of Comcast Corporation (CMCSA) at $35.17 per share, compared with a market price of $24.61, a margin of safety of +30.0%. The base case assumes -0.7% annual free cash flow growth and a 10.0% discount rate.
Across the sensitivity grid the estimate spans $23.33 to $49.28. Intrinsic value is an estimate built on assumptions, not a fact. A higher discount rate or slower growth pushes the estimate down, while stronger cash flow growth lifts it.
How the DCF works · Recalculate with your own assumptions · What is intrinsic value?
Is Comcast Corporation (CMCSA) Undervalued?
At the current price of $24.61, CMCSA trades well below the base-case intrinsic value estimate, a margin of safety above 30%. By this model the stock looks undervalued, but verify the growth assumptions match your own view before acting.
COMPETITIVE MOAT
↑Extensive Broadband Network Infrastructure
Comcast operates a vast and deeply entrenched physical network, creating significant barriers to entry for new broadband competitors. This infrastructure is essential for delivering its core services.
↑Bundled Service Ecosystem
The company leverages its broadband dominance to bundle internet, TV, and mobile services. This creates customer stickiness and increases switching costs for consumers seeking standalone alternatives.
↑Scale and Brand Recognition
Comcast's sheer size and well-established Xfinity brand provide significant advantages in marketing, customer service, and negotiating power with content providers.
INVESTMENT RISKS
↓Regulatory Scrutiny and Net Neutrality
Comcast faces ongoing regulatory oversight, particularly concerning net neutrality principles and potential antitrust issues, which could impact its business practices and profitability.
↓Technological Disruption in Media
The rapid evolution of streaming technologies and changing consumer viewing habits pose a constant threat to Comcast's traditional media and entertainment segments.
↓Execution of Strategic Initiatives
The success of future growth strategies, such as further integration of NBCUniversal or expansion into new markets, hinges on effective execution and market reception.
Base case
CMCSA base case valuation
Intrinsic Value
$35.17
Margin of safety
+30.0%
Expected annual return
+7.4%
Base case assumptions: -0.7% annual growth, 10.0% discount rate, 4x exit multiple, 5 year projection. Data as of 2026-07-29.
This base case uses default assumptions and is not financial advice. The intrinsic value changes significantly when the growth rate or discount rate changes. Open the calculator to set your own assumptions and see the full sensitivity range.
Customize the CMCSA valuation
Adjust the growth rate, discount rate, and exit multiple to see how the intrinsic value and margin of safety for Comcast Corporation respond.
Open DCF Calculator for CMCSACompany Overview
Comcast Corporation functions as a global media and technology conglomerate. Its diverse operations are segmented across Cable Communications, Media, Studios, Theme Parks, and Sky. The Cable Communications division delivers internet, television, phone, and mobile services to residential and business clients under its Xfinity brand, alongside offering advertising solutions. Its Media segment encompasses NBCUniversal's television and streaming platforms, including its national, regional, and international cable channels, the NBC and Telemundo broadcast networks, and the Peacock streaming service. The Studios segment is responsible for NBCUniversal's film and television production and distribution activities. Through its Theme Parks division, Comcast manages Universal Studios resorts located in Orlando, Florida; Hollywood, California; Osaka, Japan; and Beijing, China. The Sky segment provides direct-to-consumer services such as video, internet, voice, and mobile phone offerings, while its content arm includes entertainment networks, the Sky News channel, and Sky Sports networks. Additionally, Comcast owns the Philadelphia Flyers hockey team and the Wells Fargo Center arena in Philadelphia, Pennsylvania. Founded in 1963, Comcast Corporation is headquartered in Philadelphia, Pennsylvania.
Financial Metrics — CMCSA Stock Valuation Data
Revenue/Share (TTM)
$34.99
FCF/Share (TTM)
$5.73
ROIC (TTM)
6.1%
ROE (TTM)
12.0%
P/FCF
4.3x
EV/EBITDA
5.1x
FCF Yield
23.41%
Debt/Equity
1.01x
On a trailing twelve-month basis, CMCSA generates free cash flow per share of $5.73 alongside a ROIC of 6.1%, both central inputs for a DCF valuation. Its P/FCF ratio of 4.3x and FCF yield of 23.41% then frame how CMCSA is priced against peers on a cash flow basis.
Frequently Asked Questions
What is the intrinsic value of CMCSA?
Comcast Corporation currently generates $5.73 in free cash flow per share. At the current price of $24.61, a DCF model would discount these cash flows at an appropriate WACC and apply a terminal growth rate to arrive at an intrinsic value. The result depends heavily on your growth and discount rate assumptions — a 1% change in WACC typically shifts the fair value estimate by 10-15%. In MiniValuator the model uses a single discount rate that you can edit directly, 10% by default, rather than a computed WACC.
Is CMCSA undervalued?
CMCSA trades at a P/FCF ratio of 4.3x with a free cash flow yield of 23.41%. A low P/FCF means investors are paying less per dollar of free cash flow; whether that is cheap depends on the company's growth, cyclicality, and capital intensity. However, whether CMCSA is truly undervalued requires comparing the DCF intrinsic value to the current market price and evaluating whether the margin of safety is sufficient for your risk tolerance.
How do I value CMCSA stock using DCF?
To perform a DCF valuation on Comcast Corporation: (1) Start with the trailing free cash flow per share ($5.73) as the base, (2) project future FCF growth over 5-10 years based on Telecommunications Services industry trends and company fundamentals, (3) apply a discount rate (WACC) reflecting CMCSA's risk profile — with a debt-to-equity of 1.01x, capital structure is an important factor, and (4) add a terminal value for cash flows beyond the projection period.
What is DCF valuation and how does it apply to CMCSA?
DCF (Discounted Cash Flow) estimates what a company is worth today based on its future cash generation. For Comcast Corporation, this means projecting how much free cash flow the company will produce over the next 5-10 years, shaped by Telecommunications Services trends, then discounting those amounts to today's dollars. CMCSA's ROIC of 6.1% means the company's return on invested capital sits below the level that typically clears its cost of capital.
How does WACC affect CMCSA stock valuation?
WACC (Weighted Average Cost of Capital) is the discount rate in a DCF model — it reflects the minimum return investors require. For CMCSA, with a debt-to-equity ratio of 1.01x, the capital structure directly influences WACC. A 1% increase in WACC typically reduces the intrinsic value by 10-15%. At an EV/EBITDA of 5.1x, the market's implied discount rate can be reverse-engineered for comparison. In MiniValuator you set this discount rate yourself as a single editable number, 10% by default, instead of computing a formal WACC.
Learn More
- See CMCSA PE Valuation → — Earnings-based stock valuation using PE ratio analysis
- DCF Methodology — Step-by-step guide to discounted cash flow analysis
- PE Methodology — Guide to PE ratio stock valuation
- WACC — Understanding the discount rate used in DCF
- Margin of Safety — How to evaluate downside protection
- Intrinsic Value — How to evaluate stock fair value
- How to Calculate Intrinsic Value — Complete guide for investors
Related Valuations
All Communication Services valuationsDCF and P/E value CMCSA with different methods and assumptions, so the two conclusions can differ. Compare the P/E fair value.
Price as of 2026-07-29. Financial data from Financial Modeling Prep (trailing twelve months) · Valuation methodology by Charlie Wang.
This is an estimate, not investment advice.