CHTRCHARTER COMMUNICATIONS, INC. /MO/

Cable & Other Pay Television Services

Revenue: $889M; 5.5% YoY
Operating margin: 1452.0%; 4.2% YoY
EBITDA: $21.0B; 0.4% YoY
Market cap: $30.2B
Employees: —
Net debt / EBITDA: 0.6×; $13.2B net debt
AI in 10-K: 1.3; mentions per 10K words

Takeover score 3 of 13

Fixable underperformance 2 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
322% of net income
Cash flow under 80% of net income
Dilutive SBCYes
76% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
32% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
19% of assets
Over 40% of assets
Shareholder dissentYes
76% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
—
Bottom quartile of its SIC industry
Quiet on AINo
1.3 per 10K words · 40th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
0.6× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$30.2B market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DYes
1 filing
Active-intent 13D in 18 months
Net insider sellingNo
−$9M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$1.1B	$1.1B	$993M	$941M	$889M	5.5%
Operating income	$10.5B	$12.0B	$12.6B	$13.1B	$12.9B	1.6%
Net income	$4.7B	$5.1B	$4.6B	$5.1B	$5.0B	1.9%
Operating cash flow	$16.2B	$14.9B	$14.4B	$14.4B	$16.1B	11%
Capex	$7.6B	$9.4B	$11.1B	$11.3B	$11.7B	3.5%
Stock-based comp	$430M	$470M	$692M	$651M	$673M	3.4%
Buybacks	$15.4B	$10.3B	$3.2B	$1.2B	$5.1B	323%

Deal filings

Filed	Form	Acquirer	Price	Premium
Jul 2, 2025	DEFM14A	Cox Enterprises	$0.00	35%
Jun 18, 2025	PREM14A	Cox Enterprises	$353.64	35%

13D filers

Filed	Filer	Form	Stake	Intent
Sep 30, 2026	COX ENTERPRISES INC ET AL	SCHEDULE 13D/A	28.7%	Passive
Aug 25, 2026	COX ENTERPRISES INC ET AL	SCHEDULE 13D	27.9%	Active
Aug 21, 2026	Liberty Broadband Corp	SCHEDULE 13D/A	0.0%	Passive
Aug 20, 2026	ADVANCE/NEWHOUSE PARTNERSHIP	SCHEDULE 13D/A	14.3%	Passive
Mar 9, 2026	Liberty Broadband Corp	SCHEDULE 13D/A	32.4%	Passive
Aug 4, 2025	ADVANCE/NEWHOUSE PARTNERSHIP	SCHEDULE 13D/A	12.3%	Passive
May 20, 2025	ADVANCE/NEWHOUSE PARTNERSHIP	SCHEDULE 13D/A	12.2%	Passive
May 19, 2025	Liberty Broadband Corp	SCHEDULE 13D/A	31.3%	Passive
Nov 14, 2024	Liberty Broadband Corp	SC 13D/A	32.0%	Passive
Sep 23, 2024	Liberty Broadband Corp	SC 13D/A	31.9%	Passive

Insider trading

Open-market buys, 12 mo: $4M · 5
Open-market sells, 12 mo: $13M · 4
Net: −$9M

Pay vs performance

No pay-versus-performance disclosure yet.