NASDAQ · VIAC

Paramount Global

Communication Services · Entertainment

$29.58▼ 17.81% ($6.41)at close

As of 12:00 AM ET

52-week

$27.25$101.97

Market cap

$19.43B

P/E

What the market price implies · Reverse DCF

To support a price of $29.58, this model requires revenue to grow by -5.75%/yr over the next 10 years, compounded annually.

Historical revenue grew by 20.2%/yr over the past 4 years. The required annual growth rate is 25.95 percentage points lower.

Selected forecast · Base scenario

7.84%/yr · actual 10-year annualized revenue growth

Year 1 growth: 12.29%

Market-implied · Base operating assumptions + edited margins

-5.75%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$29.58

Estimated value / share

$115.49

Base scenario

This estimate is 290.44% above the price used.

USD · FY 2021

This estimate is at least 3× the price used. Review the growth, margin and investment assumptions behind the gap.

Year 1 growth 12.29% · Ending margin 13.75% · Discount rate 9.32%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Feb 17, 2022, 5:00 AM UTC
Financial statement period: FY 2021
Data refreshed: Sep 11, 2026, 4:28 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.

1Y Price: -49.98%Revenue (YoY): 13.06%FCF (YoY): -69.59%P/FCF: 100th pct

What changed

The stock fell 49.98% over the last year. Revenue grew 13.06% year over year. Operating margin moved from 16.37% to 21.6%. Free cash flow declined 69.59% year over year.

What the market seems to be pricing

The stock has moved lower against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.

What would invalidate this read

Operating margin currently stands at 21.6%. A decisive move in revenue — currently up 13.06% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

ViacomCBS Inc. operates as a global force in the media and entertainment industry, organizing its diverse activities into three primary divisions: TV Entertainment, Cable Networks, and Filmed Entertainment.

CEORobert Bakish

SectorCommunication Services

IndustryEntertainment

Employees22,109

IPO dateApr 8, 1999

https://www.paramount.com

Market multiples

Forward P/E—

EV/EBITDA4.82

Enterprise value$31.63B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth3.62%

Gross margin28.75%▼2.8ppvs FY2020

Operating margin-18.45%▲5.2ppvs FY2020

ROEN/A

Analyst consensus

RatingBuy

Target price$49.00▲65.65%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Feb 15, 2022

Q2 FY22 · EPS est $0.43 · Revenue est $7.48B

View

Dividends

$0.96/shareQuarterlyDividend Achiever · 12yr

VIAC pays a dividend with a 3.25% dividend yield, 12 consecutive years of growth, growing at 6.83% annually.

Dividend Yield

3.25%

Annual Div / Share

$0.96

TTM $0.20

5yr CAGR

+6.83%

Doubles every ~10.5yr

Payout Ratio

—

Dividend Growth Rate

3yr CAGR

+10.06%

5yr CAGR

+6.83%

10yr CAGR

+9.15%

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2021$0.96+0.0%

2020$0.96+14.3%

2019$0.84+16.7%

2018$0.72+0.0%

2017$0.72+4.3%

2016$0.69+15.0%

2015$0.60+5.3%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$32/yr

$3/mo

In 5 yrs

$45/yr+39%

$4/mo

In 10 yrs

$63/yr+94%

$5/mo

Today	In 5 yrs	In 10 yrs
$32/yr $3/mo	$45/yr+39% $4/mo	$63/yr+94% $5/mo

Yield-on-cost grows from 3.25% → 6.28% over 10yr

Analysis

Dividend Strengths

Dividend Achiever

VIAC has raised its dividend for 12 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.

Strong dividend growth rate

The 5-year CAGR of 6.83% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

No strong risk signal stands out from the latest period pair.

NASDAQ · VIAC

Paramount Global

Communication Services · Entertainment

$29.58▼ 17.81% ($6.41)at close

As of 12:00 AM ET

52-week

$27.25$101.97

Market cap

$19.43B

P/E

What the market price implies · Reverse DCF

To support a price of $29.58, this model requires revenue to grow by -5.75%/yr over the next 10 years, compounded annually.

Historical revenue grew by 20.2%/yr over the past 4 years. The required annual growth rate is 25.95 percentage points lower.

Selected forecast · Base scenario

7.84%/yr · actual 10-year annualized revenue growth

Year 1 growth: 12.29%

Market-implied · Base operating assumptions + edited margins

-5.75%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$29.58

Estimated value / share

$115.49

Base scenario

This estimate is 290.44% above the price used.

USD · FY 2021

This estimate is at least 3× the price used. Review the growth, margin and investment assumptions behind the gap.

Year 1 growth 12.29% · Ending margin 13.75% · Discount rate 9.32%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Feb 17, 2022, 5:00 AM UTC
Financial statement period: FY 2021
Data refreshed: Sep 11, 2026, 4:28 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.

1Y Price: -49.98%Revenue (YoY): 13.06%FCF (YoY): -69.59%P/FCF: 100th pct

What changed

The stock fell 49.98% over the last year. Revenue grew 13.06% year over year. Operating margin moved from 16.37% to 21.6%. Free cash flow declined 69.59% year over year.

What the market seems to be pricing

What would invalidate this read

Operating margin currently stands at 21.6%. A decisive move in revenue — currently up 13.06% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

CEORobert Bakish

SectorCommunication Services

IndustryEntertainment

Employees22,109

IPO dateApr 8, 1999

https://www.paramount.com

Market multiples

Forward P/E—

EV/EBITDA4.82

Enterprise value$31.63B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth3.62%

Gross margin28.75%▼2.8ppvs FY2020

Operating margin-18.45%▲5.2ppvs FY2020

ROEN/A

Analyst consensus

RatingBuy

Target price$49.00▲65.65%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Feb 15, 2022

Q2 FY22 · EPS est $0.43 · Revenue est $7.48B

View

Dividends

$0.96/shareQuarterlyDividend Achiever · 12yr

VIAC pays a dividend with a 3.25% dividend yield, 12 consecutive years of growth, growing at 6.83% annually.

Dividend Yield

3.25%

Annual Div / Share

$0.96

TTM $0.20

5yr CAGR

+6.83%

Doubles every ~10.5yr

Payout Ratio

—

Dividend Growth Rate

3yr CAGR

+10.06%

5yr CAGR

+6.83%

10yr CAGR

+9.15%

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2021$0.96+0.0%

2020$0.96+14.3%

2019$0.84+16.7%

2018$0.72+0.0%

2017$0.72+4.3%

2016$0.69+15.0%

2015$0.60+5.3%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$32/yr

$3/mo

In 5 yrs

$45/yr+39%

$4/mo

In 10 yrs

$63/yr+94%

$5/mo

Today	In 5 yrs	In 10 yrs
$32/yr $3/mo	$45/yr+39% $4/mo	$63/yr+94% $5/mo

Yield-on-cost grows from 3.25% → 6.28% over 10yr

Analysis

Dividend Strengths

Dividend Achiever

VIAC has raised its dividend for 12 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.

Strong dividend growth rate

The 5-year CAGR of 6.83% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

No strong risk signal stands out from the latest period pair.