Forecast

Financial forecast

Project revenue, EBITDA, net income and free cash flow for the next 5 or 10 years. Growth starts at the same rate the valuation uses and fades to the long-run rate, with margins held at today's level. Bear and bull cases move growth by the company's own revenue volatility. It is a model of what the assumptions imply, not a prediction.

Comcast (CMCSA)

Price updated 06 Nov 2026 09:55; TTM through 30 Sep 2026; TTM financials updated 05 Nov 2026 18:02.

Starts from TTM through 30 Sep 2026 financials in USD and a share price of USD 24.95. Growth begins at 2.0% a year (the valuation's blended assumption) and fades to 2.9% by year 10. Margins held at EBITDA 27.3%, net 9.2%, free cash flow 13.9% of revenue. Bear and bull move starting growth by 5.2 points and long-run growth by 1 point.

Year 1 uses analyst consensus revenue growth (-2.8%); year 2 is halfway back to the model's own path.
USD 40.94Model fair value (Free-cash-flow DCF); range USD 25.14 to USD 68.61
64%Fair value vs today's price
HighModel confidence
75%Share of the gap to fair value the price closes by year 5

Confidence: Earnings-based DCF agrees; trailing-twelve-month data; profit and cash flow steady for 3 years.

8.8%/yrModel-implied annual total return over 10 years, base case (price plus dividends). Raw model level; the screener shows a calibrated ranking instead
USD 145.73BRevenue in year 10 (base)
USD 13.41BNet income in year 10 (base)
USD 20.24BFree cash flow in year 10 (base)
USD 1.60Dividend per share in year 10 (base)
USD 43.77Implied share price in year 10 (base), today USD 24.95
22.8%Year-10 free cash flow per share vs today's price

Free cash flow over time

USD 0 USD 6.84B USD 13.67B USD 20.51B USD 27.35B FY2021 FY2023 FY2025 TTM through 30 Sep 2026 +1 +3 +5 +7 +9 +10
Solid: reported Dashed: base projection Shaded: bear to bull range
Free cash flow in year 10 by scenario
CaseStarting growthYear 10Annual growth
Bear -8.0% USD 14.81B -1.4%
Base -2.8% USD 20.24B 1.7%
Bull 2.4% USD 27.35B 4.8%

Base case by year

YearGrowthRevenueEBITDANet incomeFree cash flowEPSFCF / shareDividend / shareBook / shareImplied price
TTM through 30 Sep 2026– USD 123.00BUSD 33.62BUSD 11.32BUSD 17.09B 3.184.801.3525.9824.95
Year 1-2.8% USD 119.56BUSD 32.68BUSD 11.00BUSD 16.61B 3.094.661.3127.7526.58
Year 2-0.3% USD 119.14BUSD 32.57BUSD 10.96BUSD 16.55B 3.084.651.3129.5228.81
Year 32.2% USD 121.76BUSD 33.28BUSD 11.20BUSD 16.91B 3.144.751.3431.3331.82
Year 42.3% USD 124.56BUSD 34.05BUSD 11.46BUSD 17.30B 3.224.861.3733.1734.98
Year 52.4% USD 127.55BUSD 34.87BUSD 11.73BUSD 17.72B 3.294.971.4035.0738.31
Year 62.5% USD 130.74BUSD 35.74BUSD 12.03BUSD 18.16B 3.385.101.4437.0139.27
Year 72.6% USD 134.14BUSD 36.67BUSD 12.34BUSD 18.63B 3.465.231.4739.0040.29
Year 82.7% USD 137.76BUSD 37.66BUSD 12.67BUSD 19.13B 3.565.371.5141.0441.38
Year 92.8% USD 141.62BUSD 38.71BUSD 13.03BUSD 19.67B 3.665.521.5643.1442.53
Year 102.9% USD 145.73BUSD 39.83BUSD 13.41BUSD 20.24B 3.765.681.6045.3043.77

EPS and free cash flow per share assume today's share count. Dividends assume today's payout ratio and book value grows with retained earnings. The implied share price follows the valuation models and is not a price target; override growth settings do not change the model fair value. Margins stay at today's level except where the notes say they drift toward their average, so it does not model margin expansion, buybacks, acquisitions or recessions. It is for information and education only and is not investment advice. See the methodology for how the growth rate is blended.