Comcast

Part
01
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Part
01

Comcast

The financial outlook for Comcast is very positive and it is steadily growing at a promising CAGR % over the last 4 years. Their revenue was $94,507 million in 2018 and is forecasted to reach $102,341 million in 2019. Their asset was $251,684 and is forecasted to reach $283,856 million in 2019. Comcast's net Income has been growing at a CAGR of 29.33% over the past 4 years and is forecasted to reach $15,171 million in 2019. The complete financial outlook for Comcast and their corporate structure has been summarized below.

Financial outlook and forecasts

1. Comcast's revenue

  • 2018: $94,507 million, the growth rate is 11.5% compared to 2017.
  • 2017: $85,029 million, the growth rate is 5.32% compared to 2016.
  • 2016: $80,736 million, the growth rate is 8.36% compared to 2015.
  • 2015: $74,510 million, the growth rate is 8.34% compared to 2014.
  • 2014: $68,775 million.

2. Comcast's Assets

  • 2018: $251,684, the growth rate is 34.26% compared to 2017.
  • 2017: $187,462, the growth rate is 3.56% compared to 2016.
  • 2016: $181,017, the growth rate is 8.67% compared to 2015.
  • 2015: $166,574, the growth rate is 4.64% compared to 2014.
  • 2014: $159,186

3. Comcast's Net Income

The net income of Comcast was steadily growing over the period 2016-2017 but has declined in 2018 by -48.40%. However, it is expected to grow again in 2019 to reach $15,171 million.
  • 2018: $11,731, the growth rate is -48.40% compared to 2017.
  • 2017: $22,735, the growth rate is 161.98% compared to 2016.
  • 2016: $8,678, the growth rate is 6.31% compared to 2015.
  • 2015: $8,163, the growth rate is -2.59% compared to 2014.
  • 2014: $8,380

4. Comcast's Basic earning per common share

Comcast's basic earning per common share was steadily growing over the period 2014-2017 but have declined in 2018 by -47.00%. However, it is expected to grow again in 2019 to reach $3.41.
  • 2018: $2.56, the growth rate is -47.00% compared to 2017.
  • 2017: $4.83, the growth rate is 168.33% compared to 2016.
  • 2016: $1.80, the growth rate is 9.76% compared to 2015.
  • 2015: $1.64, the growth rate is 1.23% compared to 2014.
  • 2014: $1.62

5. Comcast's Diluted earnings per common share

Comcast's diluted earning per common share was steadily growing over the period 2014-2017 but have declined in 2018 by -46.74%. However, it is expected to grow again in 2019 to reach $3.36.
  • 2018: $2.53, the growth rate is -46.74% compared to 2017.
  • 2017: $4.75, the growth rate is 166.85% compared to 2016.
  • 2016: $1.78, growth rate is 9.88% compared to 2015.
  • 2015: $1.62, growth rate is 1.25% compared to 2014.
  • 2014: $1.60

6. Comcast's Dividends declared per common share

  • 2018: $0.76, the growth rate is 20.63% compared to 2017.
  • 2017: $0.63, the growth rate is 14.55% compared to 2016.
  • 2016: $0.55, the growth rate is 10.00% compared to 2015.
  • 2015: $0.50, the growth rate is 11.11% compared to 2014.
  • 2014: $0.45

Comcast's Revenue for the period 2006-2019 can be summarized as follows:

  • Comcast's revenue for Q1 2019 was $26.859B, which is a 17.85% increase year-over-year.
  • Comcast's revenue for the twelve months ending March 31, 2019, was $98.575B, which is a 13% increase year-over-year.
  • Comcast's annual revenue for 2018 was $94.507B, which was an 11.15% increase from 2017.
  • Comcast's annual revenue for 2017 was $85.029B, which was a 5.32% increase from 2016.
  • Comcast's annual revenue for 2016 was $80.736B, which was an 8.36% increase from 2015.

Comcast's Growth Statistics

1. Sales growth percentage per number of years
2. EPS (TTM) growth percentage per number of years
3. Dividend growth percentage per number of years

2019 Forecasts:

  • Comcast's revenue grows at a CAGR% of 8.29% and the forecasted revenue for 2019 can be triangulated to $102,341 million.
  • Comcast's asset grows at a CAGR% of 12.78% and the forecasted assets for 2019 can be triangulated to $283,856 million.
  • Comcast's net income grows at a CAGR% of 29.33% and the forecasted net income for 2019 can be triangulated to $15,171 million.
  • Comcast's basic earning per common share grows at a CAGR% of 33.08% and the basic earnings per common share for 2019 can be triangulated to $3.41.
  • Comcast's diluted earning per common share grows at a CAGR% of 32.81% and the diluted earnings per common share for 2019 can be triangulated to $3.36.
  • Comcast's dividends declared per common share grows at a CAGR% of 14.07% and the dividends declared per common share for 2019 can be triangulated to $0.87.

comcast corporate structure for the C-Suite and 1-2 levels below that

Level C: Corporation

1. Brian L. Roberts: Chairman & Chief Executive Officer
2. Steve Burke: Chief Executive Officer, NBCUniversal Division & Senior Executive Vice President, Comcast Corporation
3. Michael J. Cavanagh: Senior Executive Vice President & Chief Financial Officer
4. David L. Cohen: Senior Executive Vice President & Chief Diversity Officer
5. David N. Watson: President & Chief Executive Officer, Comcast Cable Division & Senior Executive Vice President, Comcast Corporation
6. Jeremy Darroch: Group Chief Executive, Sky Division
7. Thomas J. Reid: Senior Executive Vice President, General Counsel, and Secretary
8. D'Arcy F. Rudnay: Executive Vice President & Chief Communications Officer
9. Kimberley D. Harris: Executive Vice President of Comcast Corporation and General Counsel of NBCUniversal Division
10. Bob Eatroff: Executive Vice President, Global Corporate Development & Strategy
11. Amy Banse: Managing Director & Head of Funds, Comcast Ventures
12. Kathryn A. Zachem: Executive Vice President, Regulatory & State Legislative Affairs

Level C-1

NBCUniversal Division

2.1 Matt Bond: Chairman, Content Distribution, NBCUniversal
2.2 George Cheeks: Co-Chairman, NBC Entertainment
2.3 Cesar Conde: Chairman, NBCUniversal International Group & NBCUniversal Telemundo Enterprises
2.4 Bonnie Hammer: Chairman, NBCUniversal Direct-to-Consumer and Digital Enterprises
2.5 Kimberley D. Harris: Executive Vice President of Comcast Corporation and General Counsel of NBCUniversal
2.6 Mark Hoffman: Chairman, CNBC
2.7 Kathy Kelly-Brown: Senior Vice President, Strategic Initiatives, Comcast Cable & NBCUniversal
2.8 Anand Kini: Chief Financial Officer, NBCUniversal

Cable Division

5.1 Steven Croney: Chief Financial Officer & Executive Vice President, Comcast Cable
5.2 Dana Strong: President, Consumer Services, Comcast Cable
5.3 Lynn R. Charytan: General Counsel, Comcast Cable
5.4 Kevin M. Casey: President, Northeast Division
5.5 Bill Connors: President, Central Division
5.6 Steve White: President, West Division
5.7 Tony G. Werner: President, Technology, Product, Xperience, Comcast Cable
5.8 William R. Stemper: President, Comcast Business
5.9 Greg Butz: President, Xfinity Mobile
5.10 Marcien Jenckes: President, Advertising, Comcast Cable
5.11 Greg Rigdon: President, Content Acquisition, Comcast Cable

Sky Division

6.1 James Conyers: Group General Counsel, Sky
6.2 Andrew Griffith: Group Chief Operating Officer & Chief Financial Officer, Sky
6.3 Debbie Klein: Group Chief Marketing, Corporate Affairs, and People Officer
6.4 Didier Lebrat: Chief Technology Officer, Sky
6.5 Carsten Schmidt: Chief Executive Officer, Sky Deutschland
6.6 Stephen Van Rooyen: Chief Executive Officer, Sky UK, and Ireland
6.7 Andrea Zappia: Chief Executive Continental Europe

Level C-2

1. Kenneth J. Bacon: Director, Comcast Corporation
2. Madeline S. Bell: Director, Comcast Corporation
3. Sheldon M. Bonovitz: Director, Comcast Corporation
4. Edward D. Breen: Director, Comcast Corporation
5. Gerald L. Hassell: Director, Comcast Corporation
6. Jeffrey A. Honickman: Director, Comcast Corporation
7. Maritza G. Montiel: Director, Comcast Corporation
8. Asuka Nakahara: Director, Comcast Corporation
9. David C. Novak: Director, Comcast Corporation

your Research team applied the following Strategy:

We began our research by examining Comcast's annual report and other financial databases and market research publications such as Reuters and Macrotrends to provide the financial performance statistics that can highlight the financial outlook for Comcast. We found a database provided by Macrotrends that records the financial performance of Comcast over the period 2005-2018 with growth rates provided for the performance of Comcast over different time frames.

Although these databases provide all the historical data for past years, including Comcast's annual report, they don't provide any forecast for 2019. Accordingly, we have forecasted Comcast's 2019 financial performance based on Comcast's annual report which records the financial performance indicators for revenue, assets, net income, stock shares, and dividends distributions over the period 2014-2018.

To forecast Comcast's 2019 financial performance for each financial performance indicators, we have calculated each year's increase/decline percentage as follows:
  • For example, 2015 growth % = (2015 -2014) + 2014
Then, we have calculated the CAGR % based on the last 4 years growth percentage as follows:
  • [CAGR % = average (4 years growth %)]
Finally, we have multiplied the CAGR % by each 2018 financial performance indicator to forecast 2019 for each indicator as follows:
  • For example, 2019 forecasted revenue = (CAGR % * 2018 revenue) + 2018 revenue
Finally, to facilitate the forecast process and make the assumptions and calculations clear and understandable, we have provided a spreadsheet which summarizes the Comcast's financial performance for the period 2014-2018 and growth rates over this period with a forecasted revenue and growth rate for 2019. As for the corporate structure of Comcast, we garnered the information through Comcast's official website.
Part
02
of three
Part
02

Sky

Sky has seen strong financial growth throughout the past year across all of their business lines, including in their markets located outside of the UK. The company's goal going forward is to continue to grow their European presence and embrace a multi-platform approach to servicing its customers.

Operations growth

Operations organization/management

  • Sky lowered the costs of their operations steadily when compared to their revenue from 2016 to 2018, going from 38% to 33%.
  • Due to an increase in the number of consumers who have downloaded and used Sky's service app, there have been 40% fewer service calls since 2013, resulting in fewer resources being diverted to call centers.
  • Their network saw improved efficiency, in part due to a 50% reduction in the base number of legacy BT Connect.

Financial growth

Consumer relations/attitudes

  • As of 2019, Sky operates in 7 markets and reaches 23 million European households for a total of 120 million people across the continent.

Product reach

Leadership/partnerships

Future projections

-UK & IRELAND-
-ITALY-
-GERMANY & AUSTRIA-
-SPAIN AND SWITZERLAND-
-OVERALL GROWTH-
  • They plan on extending their reach to new customer segments with their Sul Digitale Terrestre and Fibre technologies with an intended reach of 8 million new households.
  • By focusing on newer markets, Sky intends to reach 48 million households within Spain, Switzerland, and Italy.
  • The goal that the company will be operating by going forward is: "Exploiting Sky as a brand and platform more widely."
  • Sky's first major production with HBO, called Chernobyl, premieres in 2019.
  • The success of Sky Q will continue to be strengthened by diverting more assets to developing new features for the service.
  • In order to improve its customer service, Sky plans on doing two things: (1) Reduce the need for customers to contact Sky directly with new technology options and (2) Manage customer contacts through a "Digital First" campaign.

C-suite

  • Group CEO: Jeremy Darroch
  • UK & Ireland CEO: Stephen Van Rooyen
  • Sky Deutschland CEO: Carsten Schmidt
  • Sky Italia CEO: Andrea Zappia
  • Group COO and CFO: Andrew Griffith
  • Group CMO: Debbie Klein
  • CTO: Didier Lebrat
  • CPO: Alun Webber

OTHER LEVELS

  • Group General Counsel: James Conyers
  • Managing Director of Content: Gary Davey
  • Corporate Affairs and People Officer: Debbie Klein
Part
03
of three
Part
03

Xfinity

Xfinity is a subsidiary of Comcast, had a $55.1 billion revenue in 2018 and has the largest market share in cable TV. Below is an overview of the findings.

Xfinity

Financial outlook


Solidity, growth potential and forecast


Acquisitions


Competitors

  • In comparison to its competitors in cable TV services, Verizon FiOS, AT&T U-verse/DirecTV, CenturyLink, and DISH Network, Xfinity offers the largest number of features in their services.
  • Comcast's cable services, which is Xfinity, has the largest market share (31.03%), while its closest competitor, Direct TV, owns 22.31% of the market, followed by Time Warner Cable with 12.02%, and Cablevision with 3.83%.

Client's perspective

  • With regard to customer satisfaction, Xfinity received a 57% score based on customer perception in 2018, ranking it number ten in the American Customer Satisfaction Index.
  • The company's CEO, Brian Roberts, has allocated $300 million to improve the customer experience as the entire cable TV industry has suffered a drop of 1.5 points with respect to customer satisfaction.

Recent news

  • Xfinity created a new application called Xfinity Flex that is meant to expand to new segments of the internet audience. The new application was released on March 26th, 2019.
  • Xfinity Flex will have a subscription price of $5 per month and provide access to more than 10,000 movies and TV shows.

Corporate structure

  • The corporate structure and higher management positions of the company start at the C-Suite with positions such as the Chief Financial Officer, Dan Kinsella, the Chief Operating Officer, Tony Monaco, among others in C-Suite positions.
  • The level that follows contains the Vice Presidents (VP) including Senior Vice Presidents such as the Senior VP of Engineering, Odell Tuttle, and Vice Presidents such as the VP of Sales, Jeffrey L. Powell.
  • The level after Vice Presidents is the level of the Directors, starting with Senior Directors (SD) like the SD of Finance, Andrew Hunter, and follows with Directors such as the Director of Sales Engineering, Ryan Godfrey.

Research Strategy

We began our research by looking for financial insights, the corporate structure and other information on Xfinity on the company's official website, news, articles, annual reports, and business and industry sources (such as Forbes and CNBC). While we were able to find information on Xfinity such as its client growth, acquisitions, revenue, we noticed that company's corporate structure and leadership information redirects to Comcast's information, its parent company, and did not provide information for Xfinity's structure. We also noticed Xfinity does not generate an independent annual report.

Taking this into consideration, we broadened our search criteria to include Comcast's annual reports, in order to identify Xfinity's corporate structure, determine how solid the company is, and collect any financial information available. Comcast's annual report was available and provided information on Xfinity's position among the company's clients and highlights of the year for Xfinity. However, being just a subsidiary of the main company, the annual report did not provide very detailed information on Xfinity's earnings forecast or corporate structure, we were only able to locate Comcast's earnings forecast.

From our findings on Xfinity's financial outlook, we were able to assume that the company is solid and has growth potential based on the customer growth forecast for the next two years, its revenue growth, its acquisitions, the product released this year, and recent investments. As additional data points to reaffirm the company's solidity we compared it with its competitors in cable or pay TV and found that Xfinity offers the widest variety of features with its service and have the largest market share in cable services.

Not being able to find Xfinity's corporate structure on its website or in Comcast's annual reports, we further searched looked for its leaders in professional networking platforms (such as LinkedIn) and company databases (such as ZoomInfo). We were able to locate multiple contacts and their roles and constructed the corporate structure from this information.
Sources
Sources