The concurrent effects of clipping distortion and frequency chirping, on directly modulated laser sources in cable television sub-carrier multiplexed systems, is analysed and discussed. The numerical model, which is proposed in this paper for the first time, allows the physical mechanisms of the laser diode to be taken into account. Simulation results show the impact of both the considered effects on the system performance, in terms of three distortion parameters: Composite Second Order (CSO), Composite Triple Beat (CTB) and Non-Linear Distortions (NLD). Taking into account all the effects influencing the performance, the reported method can be favourably used for the design of analog CATV distribution systems.