Charter Communications Inc.

CHTR
Financial Analysis · Updated May 18, 2026 · Coverage 2026-Q2
Latest Q Revenue
$13.6B
Q1 2026 · -1% YoY
TTM ROIC
7.3%
FY2025 · NOPAT / Invested Capital (NOPAT = EBIT × (1 - tax rate); Invested Capital = Total Assets - Non-interest-bearing liabilities) · WACC ~5.4% · Moat spread +1.9pp

Financial Snapshot

ticker: CHTR step: 04 generated: 2026-05-13 source: quick-research

Charter Communications Inc. (CHTR) — Financial Snapshot

Income Statement Summary

Metric FY2022 FY2023 FY2024 YoY
Revenue $54.02B $54.61B $55.09B +0.9%
Adj. EBITDA ~$22B ~$22.5B ~$22.8B ~+1.3%
Net Income ~$5.1B $4.56B $5.08B +11.5%
EPS (diluted, adj.) ~$31 ~$33 ~$38 ~+15%

FY2025: Operating cash flows $16.1B (+12% vs FY2024 $14.4B); FCF grew from $4.3B in FY2024 on lower taxes and interest. Normalized EPS consensus ~$42.9 in FY2026 (+18%).

Cash Flow & Balance Sheet (FY2024)

Metric Value
Operating Cash Flow $14.4B
Free Cash Flow $4.3B
Capital Expenditures ~$11.5B
Cash & Equivalents ~$1.0B
Total Debt ~$100B

FCF is heavily suppressed by the Network Evolution capex cycle — $12B in 2025, declining to $7B by 2028. Bulls project FCF more than doubling as capex normalizes.

Key Ratios (approximate)

  • P/E: ~6x (adj. FY2025) | EV/EBITDA: ~7x | FCF Yield: Low during capex peak, rising post-2027
  • Revenue Growth: ~1% annually (subscriber losses offset by ARPU increases)

Growth Profile

Charter's revenue is nearly flat as broadband subscriber losses (120K in Q1 2026) are offset by broadband ARPU increases and rapid Spectrum Mobile growth (2.1M+ lines in the past year). The financial story is entirely about the capex cycle: $12B in 2025 declining to $7B by 2028 implies a $5B annual FCF uplift — potentially transforming Charter from a modest FCF generator to a $10B+ FCF machine. Debt is elevated (~$100B) but manageable given the EBITDA base; $500M in Cox synergies add incremental upside post-close.

Forward Estimates

  • FY2026 normalized EPS: ~$42.9 (+18%); FY2027: ~$47 (+10%)
  • Cox acquisition: $34.5B, closing mid-2026; $500M synergies within 3 years
  • Capex: $12B (2025) → $11B (2026) → $7B (2028+) — key FCF inflection driver
  • Spectrum Mobile: 2.1M+ lines added past year; fastest-growing US mobile provider
  • Analyst mean PT: $276.80 (+26% upside from ~$220; 5 Buy / 9 Hold / 5 Underperform/Sell)

Deeper Financial Analysis

The fundamental tier adds 9 additional research dimensions for $CHTR.

Revenue Breakdown
Segment revenue, geographic mix, product-line contribution margins, and cohort dynamics.
Financial Trends
Quarter-over-quarter momentum, leading indicators, and inflection point analysis.
Balance Sheet
Debt structure, liquidity runway, dilution risk, and working capital dynamics.
Capital Allocation
Buyback cadence, M&A appetite, dividend policy, and reinvestment priorities.
Returns on Capital (ROIC)
Multi-year ROIC vs. WACC, marginal returns on reinvestment, sales-to-invested-capital efficiency, and moat spread.
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Markdown: /stocks/chtr/financials/md · → thesis · → memo