If you want to know how much is Comcast worth, don't just look at the stock price and call it a day. Honestly, the numbers you see on a ticker like CMCSA are only half the story. As of mid-January 2026, Comcast’s market capitalization sits at roughly $103.56 billion. That’s a massive number, sure, but it’s a far cry from the $215 billion peaks we saw back in 2021.
Why the massive gap?
Investors are currently wrestling with a giant that is trying to reinvent itself in real-time. You've got the old-school "cable company" reputation clashing with a modern media powerhouse that owns everything from Universal Studios to the Peacock streaming service. When you ask about Comcast's value, you're really asking about the sum of its parts—and those parts are moving in very different directions.
The Real Numbers: Market Cap vs. Enterprise Value
Most people confuse "net worth" with market cap. In the world of giant corporations, that's a mistake. While the market cap is about $104 billion right now, the Enterprise Value (EV) of Comcast is closer to **$193.12 billion**.
The difference? Debt and cash.
Comcast carries a significant amount of debt—around $93 billion in loan capital—mostly from its aggressive acquisitions like the $39 billion takeover of Sky in 2018. If you were to "buy" Comcast today, you wouldn't just pay for the shares; you'd be taking on that mountain of debt too. That’s why the EV is nearly double the market cap. It reflects the total cost of the operation, not just the current popularity of the stock.
Breaking Down the Comcast Empire
To understand what's driving that $104 billion valuation, you have to look under the hood. It’s not just a cable box anymore. The company basically split its identity into two main buckets: Connectivity & Platforms and Content & Experiences.
Connectivity & Platforms (The Cash Cow)
This is the "old" Comcast, but it’s still the most valuable part of the business. It brings in roughly 63% of the total revenue.
- Broadband: This is the crown jewel. Even though they lost about 104,000 domestic broadband customers in late 2025, they make more money per person now because of rate increases.
- Wireless: This is the surprise winner. They added over 414,000 wireless lines recently. People are bundling their cell phones with their internet, which keeps them from switching to competitors.
- Video (Cable TV): This is the leak in the boat. People are cutting the cord faster than ever. In the third quarter of 2025 alone, they lost 257,000 video customers.
Content & Experiences (The Growth Engine)
This is the NBCUniversal side of things. It's the part that makes Comcast feel like a tech and entertainment company rather than just a utility.
- Theme Parks: This is a huge part of the "worth" equation. The opening of Epic Universe in Orlando in May 2025 was a massive capital investment. It cost billions, but it’s expected to drive cash flow for decades.
- Peacock: For a long time, Peacock was a money pit. But by late 2025, it started showing real signs of life. In Q3 2025, Media EBITDA (a measure of profit) jumped 28%, largely because Peacock stopped losing so much money and started growing its subscriber base.
- Studios: Universal has had a massive run at the box office, which pads the bottom line whenever a blockbuster hits the theaters.
What Do the Experts Say?
Wall Street is currently "Neutral" on the company, which is finance-speak for "we’re waiting to see what happens." The median price target from analysts is around $34.50. If the stock actually hits that, Comcast’s worth would jump significantly.
Some analysts, like those at B of A Securities, recently upgraded the stock to a "Buy" with a $37 target. They see the value in the "reset" Comcast is going through. On the flip side, Barclays and Rosenblatt have been more cautious, lowering targets to around $28 or $30. They worry that the decline in cable TV and the high cost of building fiber-optic networks will eat into profits.
It’s a tug-of-war. On one side, you have a company generating $14.9 billion in free cash flow year-to-date. That’s an insane amount of actual cash being spit out by the business. On the other side, you have a shrinking traditional cable business.
The Brian Roberts Factor
You can't talk about how much Comcast is worth without mentioning the man at the top. Brian Roberts, the CEO and Chairman, has an estimated personal net worth of roughly $666 million to $827 million, depending on which SEC filing you look at.
But his real power isn't in his bank account; it's in his voting shares. Through a special class of stock, Roberts maintains 33% voting control over the company despite owning a relatively small percentage of the total equity. This means he has the final say on where the company goes. If he decides to buy another giant company (like the rumored interest in Warner Bros. Discovery assets), the "worth" of Comcast could change overnight based on how the market reacts to more debt.
Is Comcast Undervalued?
Many value investors look at Comcast and see a bargain. The price-to-earnings (P/E) ratio is currently around 4.7x. For context, the average S&P 500 company often trades at 20x or higher.
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Basically, the market is pricing Comcast like it's a dying dinosaur. But the numbers tell a different story. A company that returns $2.8 billion to shareholders in a single quarter through dividends and buybacks—while simultaneously building a world-class theme park and a global streaming service—is far from dead.
The real worth of Comcast lies in its ability to transition. If they can replace the disappearing "cable TV" revenue with "wireless and streaming" revenue, the current $104 billion valuation will look like a steal in five years.
What You Can Do Now
If you're looking at Comcast from an investment or business perspective, don't just fixate on the $104 billion market cap. Instead, keep an eye on these specific metrics:
- Broadband ARPU (Average Revenue Per User): Even if they lose customers, if this number stays high, the company stays healthy.
- Epic Universe Performance: Watch the visitor numbers for the new Orlando park. It’s the biggest indicator of their "Experiences" segment growth.
- Free Cash Flow: As long as Comcast keeps generating $4 billion to $5 billion in free cash every quarter, they have the "dry powder" to pay off debt or buy back more shares.
- The 2026 Reset: Pay attention to the quarterly earnings reports throughout 2026. This year is widely considered a "reset" year for their connectivity segment.
The question of how much is Comcast worth isn't settled yet. It’s a work in progress. Whether you see a $100 billion utility or a $200 billion media empire depends entirely on whether you believe they can successfully leave the cable box in the past.