COMCAST CORP (CCZ)

Cable & Other Pay Television Services

Latest Price

$65.99

TTM P/E

21.22

Normalized P/E

18.78

Div Yield

2.00%

Book Value

25.19

P/B Ratio

2.62

Valuation metrics

EPS: $5.39

Book value / share: $26.13

Formula: √(22.5 × EPS × BVPS)

Graham Number

$56.29

15% downside

Norm. op. income: $20.8B (median of 7yr)

Tax rate: 24%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$18.59

72% downside

Base FCF: $16.3B (median of recent 5yr)

Growth: 1%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$31.21

53% downside

EPS: $5.39

Target P/E: 19×

Formula: EPS × P/E

P/E Fair Value

$102.41

+55% upside