| Intrinsic Valuation of: CMCSA | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 5 | Market Cap | $88B | |||||
| 2021 | - | - (-) | P/E Ratio | 5 | Total Asset | $273B | |||||
| 2022 | $13B | - (-) | Net Income | $20B | Total Debt | $93B | |||||
| 2023 | $13B | 2.5% (2.4%) | EBITDA | $46B | Total Liab | $175B | |||||
| 2024 | $13B | -3.2% (-4.9%) | Opr Margin | 16.71 | Debt/Equity | 0.95 | |||||
| 2025 | $19B | 53.4% (53.4%) | PreTax Margin | 13.14 | BV/Share | -16 | |||||
| 5Y Average FCF | $14B | 7.4% (17.0%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.48% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 7.00% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (7.4%) | ||||||||||
| 2026 | $19B | MBG Intrinsic Value | $46 | ||||||||
| 2027 | $20B | ||||||||||
| 2028 | $21B | ||||||||||
| 2029 | $22B | ||||||||||
| 2030 | $23B | ||||||||||
| 2031 | $24B | ||||||||||
| Terminal Value | $537B | Net Worth/Share | $27 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $461B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $9B | $106 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $93B | WACC | 6.5% | 98 | 109 | 122 | 139 | 162 | |||
| Equity Value | $377B | 7.1% | 84 | 93 | 102 | 115 | 130 | ||||
| Shares Outstanding | 3,562,784,182 | 7.8% | 73 | 80 | 87 | 96 | 108 | ||||
| 8.4% | 64 | 69 | 75 | 82 | 91 | ||||||
| DCF Intrinsic Value | $106 | 9.0% | 57 | 61 | 66 | 71 | 78 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||