What Can Push Comcast’s Value Up In The Next Couple Of Years?

+10.27%
Upside
43.34
Market
47.80
Trefis
CMCSA: Comcast logo
CMCSA
Comcast

  • Faster than expected growth in broadcasting and studio revenues can push Comcast’s value up by 10% in the coming years.
  • Comcast can increase filmed revenue at a faster pace by leveraging established franchises such as Jurassic World, Fifty Shades of Grey and Minions. It can also increase the number of low budget films, which have good collections relative to budget.
  • Continued good rations of NBC shows such as The Blacklist, The Voice and Blindspot can help Comcast accelerate its broadcast advertising revenue growth

Comcast scenario part one

Comcast scenario second part

  • Base case topline -> broadcasting-advertising revenues increasing at a CAGR of 4.8% between 2016 and 2022, broadcasting content licensing & other revenues increasing at a CAGR of 5.5% and filmed entertainment revenue increasing at a CAGR of 3.3%
  • Base case bottomline ->broadcasting EBITDA margins increasing from 10% in 2016 to 14% by 2022 and filmed EBITDA margins increasing from 18.3% in 2016 to 22.3% by 2022
  • Upside case topline->  broadcasting-advertising revenues increasing at a CAGR of 6.5% between 2016 and 2022, broadcasting content licensing & other revenues increasing at a CAGR of 7% and filmed entertainment revenue increasing at a CAGR of 5.8%
  • Upside case bottomline ->broadcasting EBITDA margins increasing from 13% in 2016 to 20% by 2022 and filmed EBITDA margins increasing from 20% in 2016 to 27% by 2022
Relevant Articles
  1. Rising 15% Over The Last Year, Will Comcast Stock See Gains Following Q4 Results?
  2. Can Comcast Stock Recover 40% To Pre-Inflation Shock Highs?
  3. What To Expect From Comcast’s Q3 Results?
  4. Will Comcast Stock Return To Its Pre-Inflation Shock Highs?
  5. What To Expect From Comcast’s Q2 Results
  6. Will Comcast Stock Return To Pre-Inflation Shock Highs?

Have more questions about Comcast? See the links below:

Notes:

1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com
2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for Comcast
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