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1. Company Snapshot

1.a. Company Description

Liberty Broadband Corporation engages in the communications businesses.It operates through GCI Holdings and Charter segments.The GCI Holdings segment provides a range of wireless, data, video, voice, and managed services to residential customers, businesses, governmental entities, and educational and medical institutions primarily in Alaska under the GCI brand.


The Charter segment offers subscription-based video services comprising video on demand, high-definition television, and digital video recorder service; local and long-distance calling, voicemail, call waiting, caller ID, call forwarding, and other voice services, as well as international calling services; and Spectrum TV.It also provides internet services, including an in-home Wi-Fi product that provides customers with high-performance wireless routers and managed Wi-Fi services; advanced community Wi-Fi; mobile internet; and a security suite that offers protection against computer viruses and spyware.In addition, this segment offers internet access, data networking, fiber connectivity to cellular towers and office buildings, video entertainment, and business telephone services; advertising services on cable television networks and digital outlets; and operates regional sports and news networks.


Liberty Broadband Corporation was incorporated in 2014 and is based in Englewood, Colorado.

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1.b. Last Insights on LBRDA

Liberty Broadband Corporation's recent performance has been positively influenced by its steady share price movement. The company's stock price recently crossed above its 50-day moving average, indicating a potential upward trend. Additionally, the company's significant shareholder base and lack of analyst downgrades have contributed to its stability. According to recent data, the stock has a 50-day moving average of $47.82-$50.23, indicating a relatively stable trading range. No recent earnings release or share buyback announcements have been made. (Source: Market reports)

1.c. Company Highlights

2. Liberty Broadband Corporation's 2025 Earnings: A Mixed Bag

Liberty Broadband Corporation reported a record revenue of $1 billion and adjusted EBITDA of $403 million for the full year 2025, representing a 3% increase and 12% growth, respectively. However, the company's EPS came out at -$22.11, significantly missing estimates of $1.64. The revenue growth was primarily driven by the company's business segment, which saw a strong sales cycle last year. The company's consumer wireless base is expanding, with a 2% year-over-year growth in subscribers, ending the year with 199,000 consumer wireless lines.

Publication Date: Feb -24

📋 Highlights
  • Record Revenue and EBITDA: Achieved $1 billion revenue and $403 million adjusted EBITDA, both records.
  • Consumer Wireless Growth: 2% YoY growth in subscribers, ending with 199,000 lines (+3,500 additions via promotions).
  • Rights Offering Proceeds: Secured $300 million net proceeds for strategic investments and general corporate purposes.
  • CapEx Projection: Anticipates $120 million Bead fund award and peak 2026 CapEx at 15–20% of revenue.

Operational Highlights

The company's operating priorities for 2026 include investing in network infrastructure, delivering high-quality service to customers, and completing build-out commitments under the Alaska plan. Liberty Broadband is planning to significantly scale the deployment of its HFC network this year, making it DOCSIS 4.0 or 4.0 capable, enabling speeds multiple times what it has today. The company expects to reach five gigabits and beyond, leading to higher speeds and a network with better reliability and fewer maintenance requirements.

Financial Position and Capital Expenditure

Liberty Broadband concluded its rights offering, resulting in approximately $300 million in net proceeds, which will be used for general corporate purposes, potential strategic acquisitions, investments, or partnerships. The company's consolidated cash, cash equivalents, and restricted cash were $429 million at year-end. The total principal amount of debt was approximately $1 billion, with a net leverage of 2.3 times. The company's CapEx is expected to peak in 2026, with a projected step down over the coming years back to its historical range of 15% to 20% of revenue.

Valuation and Outlook

Analysts estimate revenue growth of 1.9% for the next year. Given the current valuation metrics, including a P/E Ratio of -2.84, P/B Ratio of 1.33, and EV/EBITDA of -2.58, it appears that the market has already priced in some of the challenges faced by the company. The company's ROE and ROIC are also negative, indicating potential underlying issues. As the company continues to invest in its network infrastructure and expand its rural wireless coverage, it remains to be seen whether these efforts will translate into improved financial performance.

3. NewsRoom

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Baron Discovery Fund Q4 2025: Winners, Laggards, Buys & Sells

Feb -15

Source: seekingalpha.com

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Liberty Broadband Corporation (LBRDK) Q4 2025 Earnings Call Transcript

Feb -11

Source: seekingalpha.com

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Liberty Broadband (NASDAQ:LBRDA) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Jan -10

Source: defenseworld.net

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Liberty Broadband (NASDAQ:LBRDA) Shares Cross Below Fifty Day Moving Average – Should You Sell?

Dec -23

Source: defenseworld.net

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Liberty Broadband Corporation (LBRDK) Q3 2025 Earnings Call Prepared Remarks Transcript

Nov -05

Source: seekingalpha.com

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Liberty Broadband Corporation to Conduct Quarterly Q&A Conference Call

Oct -13

Source: businesswire.com

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Liberty Broadband Corporation to Conduct Quarterly Q&A Conference Call

Jul -15

Source: businesswire.com

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Liberty Broadband Corporation Completes Spin-Off of GCI Liberty, Inc.

Jul -14

Source: businesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (1.00%)

6. Segments

Charter

Expected Growth: 1.2%

Charter's growth is driven by increasing demand for high-speed internet and video services, strategic acquisitions, and investments in network infrastructure. Additionally, the company's focus on customer retention, bundled offerings, and cost savings initiatives contribute to its growth. Liberty Broadband Corporation's support and guidance also play a crucial role in Charter's expansion.

Eliminate Equity Method Affiliate

Expected Growth: 0.8%

Liberty Broadband Corporation's 0.8 growth is driven by increasing demand for high-speed internet and video services, strategic acquisitions, and investments in network infrastructure. Additionally, the elimination of the equity method affiliate is expected to improve financial performance and enhance shareholder value.

GCI Holdings

Expected Growth: 1.1%

GCI Holdings' 1.1% growth is driven by increasing demand for high-speed data and video services in Alaska, coupled with strategic investments in network upgrades and expansion. Additionally, the company's focus on business and wholesale services, as well as its cost savings initiatives, contribute to its steady growth.

7. Detailed Products

Broadband Internet

High-speed internet services for residential and business customers

Video Services

Cable television services offering a range of channels and on-demand content

Voice Services

Landline phone services for residential and business customers

Business Services

Customized telecommunications solutions for businesses

Advertising Services

Targeted advertising solutions for businesses

Data and Cloud Services

Managed data and cloud services for businesses

8. Liberty Broadband Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Liberty Broadband Corporation operates in a highly competitive industry, and there are several substitutes available to customers. However, the company's strong brand reputation and high-quality services help to mitigate the threat of substitutes.

Bargaining Power Of Customers

Liberty Broadband Corporation's customers have limited bargaining power due to the company's strong market position and limited availability of alternative services.

Bargaining Power Of Suppliers

Liberty Broadband Corporation's suppliers have some bargaining power due to the company's dependence on them for high-quality equipment and services. However, the company's strong relationships with suppliers help to mitigate this threat.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the industry, including significant capital requirements and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry in the industry is high due to the presence of several established players, including Comcast, Charter, and AT&T. Liberty Broadband Corporation must continually innovate and improve its services to remain competitive.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 29.78%
Debt Cost 6.96%
Equity Weight 70.22%
Equity Cost 8.79%
WACC 8.25%
Leverage 42.42%

11. Quality Control: Liberty Broadband Corporation passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Nexstar Media

A-Score: 6.9/10

Value: 7.0

Growth: 8.2

Quality: 5.4

Yield: 7.0

Momentum: 7.0

Volatility: 6.7

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Comcast

A-Score: 6.1/10

Value: 8.6

Growth: 5.2

Quality: 6.6

Yield: 7.0

Momentum: 1.0

Volatility: 8.3

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Liberty Broadband

A-Score: 5.1/10

Value: 7.4

Growth: 9.0

Quality: 8.2

Yield: 0.0

Momentum: 1.0

Volatility: 5.0

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Frontier Communications Parent

A-Score: 4.6/10

Value: 7.3

Growth: 2.4

Quality: 2.6

Yield: 0.0

Momentum: 7.0

Volatility: 8.0

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Iridium Communications

A-Score: 4.4/10

Value: 5.8

Growth: 6.4

Quality: 5.7

Yield: 4.0

Momentum: 0.5

Volatility: 4.0

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Cogent Communications

A-Score: 4.1/10

Value: 7.7

Growth: 2.7

Quality: 2.1

Yield: 10.0

Momentum: 0.0

Volatility: 2.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

53.96$

Current Price

53.96$

Potential

-0.00%

Expected Cash-Flows