Table of Contents :
• Stock Rating & Target Price
• Investment Thesis
• Fundamental Models Used
• Company Description
• Corporate Timeline
• Key Metrics (KPI ) and Recently Reported Earnings Review
• Business Highlights, Strategic Announcements & Outlook
• Quarter-over-Quarter (Q-o-Q) and Year-over-Year (Y-o-Y) Growth Analysis
• Key Catalysts Driving Growth
• Historical Financial Statement Analysis & CAGR Trends
• Quarterly Key Financial Ratios and Performance Metrics
• Annual Financial Performance Analysis: Horizontal and Vertical Financial Analysis, Trends
• Financial Forecasts
• Annual Forecasts: Income Statement
• Annual Forecasts: Cash Flow Statements
• Net Debt Levels
• A Closer Look at DCF: Our Assumptions and Methodology
• Terminal Value Calculation
• Target Price Analysis
• Valuation Multiples
• Supplementary Valuation Analysis: Multiples Approach
• Scenario/Sensitivity Analysis – Base Case , Bull Case ,Bear Case
• Holistic Peer Review & Trading Comps: Financial Data, Operational Metrics, and Valuation Multiples
• Implied Price Per Share
• Ownership Activity/ Insider Trades
• Ownership Summary
• An analysis of ESG Risk Rating
• Key Professionals
• Key Board Members
• Key Risks Considerations
• Analyst Ratings
• Analyst Industry Views
• Disclosures
Paramount Global: Streaming Profitability Takes Center Stage – Will Execution Sustain Long-Term Momentum?
Paramount Global's Q3 2024 results showcased progress in its strategic pivot, driven by strong Direct-to-Consumer (DTC) performance and disciplined cost restructuring. Adjusted OIBDA grew 20% YoY to $858 million, supported by a $49 million swing to profitability in the DTC segment, while Paramount+ added 3.5 million subscribers, fueling a 27% YoY subscription revenue increase. Despite these wins, GAAP EPS landed flat at $0.00, and revenue of $6.73 billion missed expectations by $234.64 million, highlighting persistent challenges in traditional segments like TV Media, where affiliate and licensing revenues declined by 6.6% and 9% YoY, respectively, amid cord-cutting and strike-related disruptions. Cost-saving measures, including $500 million in annualized savings and a 15% workforce reduction, have been impactful, improving margins to 12.7% and bolstering operational efficiency. Advertising growth (+2% YoY) was driven by digital strength (+18% YoY) but offset by linear declines. Upcoming content launches and the pending Skydance acquisition offer potential upside, yet execution risks tied to international streaming losses and structural industry pressures persist. As Paramount builds momentum in streaming profitability, can it successfully balance growth in DTC with the structural decline of its legacy business to drive sustained long-term value?
