Comcast Corp


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SKU: CMCSA Category:


Comcast had a strong fourth quarter, capping off a year marked by several significant financial milestones. At the end of 2021, the company’s Peacock platform had 24.5 million monthly active accounts in the United States. Over 9 million paid subscribers are among the 24.5 million monthly active accounts, with paid ARPU approaching $10, including advertising. It is worth highlighting that this increment is happening without emphasizing paid subscriber growth. While the management anticipates a significant increase in revenue in 2022, Comcast’s increasing investment in content, marketing, and service is bound to hit the bottom line of Peacock. In 2022, the company is also expected to spend heavily in the form of cable capex as well as NBCUniversal Capex related to the construction of Epic Universe which is expected to be around $1 billion. We give Comcast an ‘Outperform’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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