Models

Visible Alpha broker models via S&P Xpressfeed · 23 brokers · 520 line items · freshest revision 2026-07-24.

Comcast's broker models depict a business in slow rotation: total revenue hovers near $120bn through FY-2028 while the mix shifts underneath. A shrinking domestic broadband-and-video core is offset by wireless, Peacock and theme parks. The sharpest modeled inflection is Peacock, where streaming EBITDA is penciled to cross into profit in FY-2027.

Wireless, Peacock and parks now offset a shrinking broadband-and-video core

Line	FY-2025A	FY-2026E	FY-2027E	FY-2028E	YoY	Brokers
Fading	—	—	—	—	—	—
Domestic broadband revenue	$25.84bn	$25.00bn	$24.69bn	$24.63bn	-3.2%	21
Video platform revenue	$26.42bn	$24.26bn	$22.81bn	$21.60bn	-8.2%	21
Growing	—	—	—	—	—	—
Domestic wireless revenue	$4.90bn	$5.87bn	$6.70bn	$7.53bn	+19.8%	21
Streaming - Peacock revenue	$5.49bn	$7.90bn	$8.74bn	$9.78bn	+43.8%	18
Theme parks revenue - C&E	$9.78bn	$10.37bn	$10.98bn	$11.56bn	+6.1%	21

Peacock flips to profit: streaming EBITDA turns positive in FY-2027

Line	FY-2025A	FY-2026E	FY-2027E	FY-2028E	YoY	Brokers
Streaming EBITDA - Peacock	$-995.76m	$-216.74m	$273.63m	$761.37m	+78.2%	18
Blended ARPU - Peacock($)	$10.81	$13.74	$14.39	$15.52	+27.1%	6
Ending paid subs - Peacock(K#)	42.84m Number	49.34m Number	52.06m Number	54.30m Number	+15.2%	18
Net adds - Paid subs - Peacock(K#)	6.78m Number	5.33m Number	2.72m Number	2.24m Number	-21.4%	17

Convergence math: wireless line adds outrun broadband and video losses

Line	FY-2025A	FY-2026E	FY-2027E	FY-2028E	YoY	Brokers
Total domestic wireless line net additions (losses)(K#)	1.51m Number	1.70m Number	1.54m Number	1.43m Number	+12.4%	21
Total domestic broadband net additions (losses)(K#)	-657,372 Number	-484,850 Number	-389,469 Number	-367,993 Number	+26.2%	18
Total domestic video net additions (losses)(K#)	-1.26m Number	-1.07m Number	-923,927 Number	-783,384 Number	+15.2%	18

Brokers split on Peacock's profit turn and how deep broadband bleeds

Line	Period	Median	Q1–Q3	Min–max	Brokers
Streaming EBITDA - Peacock	FY-2027E	$436.08m	$144.98m–$493.72m	$-406.02m–$606.49m	11
Domestic broadband residential net additions (losses)(K#)	FY-2027E	-460,000 Number	-520,000 Number–-400,000 Number	-610,000 Number–-97,250 Number	9
Total domestic video net additions (losses)(K#)	FY-2027E	-924,000 Number	-1.05m Number–-800,000 Number	-1.12m Number–-710,870 Number	9

Segment detail thins to a handful of brokers in the out-years

Headline P&L is well covered (20+ brokers), but NBCUniversal segment EBITDA falls to a single broker by FY-2027 and Sky to three, so treat those breakouts as one or two analysts' views rather than consensus. Vintage is not the concern — consensus was last refreshed 2026-07-24.

Headline P&L consensus, momentum and beat/miss live in the CapIQ tab.