- Entry
- $23.24
- Now
- $23.64 +1.7%
- Target
- $65.00
- Score
- —
Last week I ran a bear case DCF on Comcast using normalized FCF of $16B, assumed 3% annual decline for 12 straight years, 10% discount rate, and explicitly stripped $89B in net debt from the terminal value. Bear case fair value: $30-38 per share against a $22 price. At the end of the piece I wrote a "dream scenario" section: "A company that spun off Versant doesn't seem unlikely to eventually spin off other pieces - broadband infrastructure or Universal …
— ORIGINAL POST ·
Last week I published a bear case DCF on Comcast with a "dream scenario" of an NBCUniversal spinoff at $55-75 per share. This morning they announced it. Stock is up 20% premarket. Here's the original math.
· r/ValueInvesting
· Jun 29, 2026