TacticScaleWhat Comcast Does & How It Makes Money (CMCSA)
Updated October 2026 · reflects Comcast's latest reported financials
US cable, broadband, media, and theme park conglomerate. It earns recurring subscription fees from broadband, wireless, video, and business connectivity customers, and advertising and distribution revenue from its TV networks and Peacock.
How Comcast makes money
It earns recurring subscription fees from broadband, wireless, video, and business connectivity customers, and advertising and distribution revenue from its TV networks and Peacock. Film and TV licensing and theme park tickets, merchandise, and hospitality add to that.
What Comcast does
Comcast is a Philadelphia-based media and technology company founded in 1963. Its largest business is connectivity: residential broadband, wireless, and video services, plus broadband, voice, wireless, and ethernet services for small businesses and larger enterprises. It also owns Sky, which offers Sky-branded entertainment networks and Sky Sports. Through NBCUniversal, Comcast owns the NBC and Telemundo broadcast networks, local TV stations, national and regional cable networks, and the Peacock streaming service. It also runs film and TV studios and Universal theme parks in Orlando, Hollywood, Osaka, and Beijing. Other holdings include the Philadelphia Flyers, the Xfinity Mobile Arena, and the Xumo streaming platform.
Products & services
- Xfinity broadband & mobile
- NBC & Telemundo
- Peacock
- Sky
- Universal Studios theme parks
- Comcast Business
What is Comcast worth?
On an owner-earnings DCF, Comcast's most-likely value is about $74 versus a recent price near $21 (258% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$51) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.
On the financials alone, $21 is below even the no-growth floor ($51); the market's discount — expectations and sentiment beyond the numbers — is pricing in ≈ -13.6%/yr. A bargain only if that pessimism is overdone.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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