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Liberty Broadband Corporation (LBRDA)

NEGATIVE
Communication ServicesTelecom ServicesUnited States

基本面

30

价格

$35.99

市值

$5.18B

第一部分 · 这家公司值多少

概览

LBRDA is a share class of Liberty Broadband, a holding company whose principal asset is a large minority stake in Charter Communications, the cable and broadband operator. Liberty Broadband does not run cable systems itself: after spinning off its Alaska-based GCI operations in July 2025, it exists mainly to hold roughly a third of Charter and is in the process of merging fully into Charter, with the merger expected to close by mid-2027.

盈利方式

Liberty Broadband earns no meaningful operating revenue of its own: it holds its roughly 32.8% economic interest in Charter under the equity method, meaning it books a share of Charter's net income rather than consolidating Charter's cable and broadband revenue. Its value moves with Charter's stock price and earnings, and with the fixed 0.236 Charter shares each Liberty Broadband share will convert into once the pending merger closes.

护城河

未发现护城河 · 无

Liberty Broadband itself operates no business with a competitive position to defend — it is a holding vehicle. Any durable advantage belongs to Charter's cable network, not to Liberty Broadband, whose only function is holding shares pending the merger.

主要风险

  • Value entirely dependent on Charter — Because its only substantial asset is its Charter stake, anything that hurts Charter's cable and broadband business — subscriber losses, price competition, rising programming costs — passes straight through to Liberty Broadband's results.
  • Merger completion risk — The all-stock merger into Charter, approved by both companies' shareholders, is not expected to close until mid-2027 and remains subject to regulatory approvals and other closing conditions that could delay or, in principle, prevent completion.
  • Fixed exchange ratio locks in relative value — The 0.236 Charter-share exchange ratio was set at signing; if Charter's business or stock performs very differently than expected before closing, Liberty Broadband shareholders cannot renegotiate the terms they will receive.

客户集中度

Liberty Broadband has no operating customers of its own; its entire value is concentrated in a single holding, its stake in Charter Communications, rather than in a base of paying customers.

看多理由

Buyers argue that owning Liberty Broadband is effectively a way to own Charter at whatever discount the market applies to the holding-company structure, and that the pending merger removes that discount entirely once it closes by converting each share into a fixed number of Charter shares.

看空理由

Sellers fear that Liberty Broadband carries all of Charter's cable-industry risks — cord-cutting, competition from fiber and wireless broadband, subscriber losses — without operating a business of its own, and that the merger's mid-2027 timeline leaves a long window in which the deal's terms or completion could be disrupted.

Written by the editors, published on 2026年8月18日

Direct competitors

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资产负债表与流动性

营收

$134M

截至2025/12/31的财政年度

净利润

$-2.68B

截至2025/12/31的财政年度

自由现金流

-

股东权益合计

$5.70B

负债合计

$3.13B

流动比率

0.09

利息覆盖率

0.33

债务/EBITDA

-

每股收益

营收与净利润

自由现金流

收入构成

历史财务表

利润率变化

债务变化

债务负担有多重

增长一览表

增长 — 营业收入

估值指标

市盈率(P/E)

-

ROE

-47.0%

市净率(P/B)

0.18

P/FCF

-

毛利率

-

ROIC

-0.4%

盈利能力雷达图

Value Creation (Economic Moat)

ROIC

-0.4%

WACC

7.8%

ROIC − WACC

-8.2 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

基本面分析标准

通过(5)

  • P/B Ratio 0.18
  • Debt/Equity ratio
  • Low reliance on intangibles
  • Revenue Growth 5Y 132.7%
  • Earnings Surprise avg 49.1%

未通过(11)

  • EPS shows upward trend
  • Price CAGR -6.76%
  • ROIC -0.4%
  • Current Ratio
  • Interest Coverage
  • Return on Tangible Assets
  • DCF valuation (Unknown)
  • ROE -86.7%
  • Analyst Consensus 0% Buy
  • Share Dilution 14.9%
  • Piotroski F-Score 2/9

不可用(11)

  • Gross Margin NaN%
  • P/FCF NaN
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Positive Free Cash Flow
  • CapEx intensity
  • Debt/EBITDA
  • Price below Graham Number
  • PEG Ratio (need PE > 0 and growth > 0)
  • Earnings Quality (OCF/Net Income)
  • Net Margin Trend (invalid data)

Piotroski F-评分

2/9

存在严重财务隐患

score
criteria

盈利质量

-

低质量:需深入审查会计处理

股权稀释

14.9%

正在发行新股,稀释所有权

公司治理

管理团队

姓名职位年龄
Mr. Martin Edward Patterson C.F.A.CEO & President38
Mr. Brian J. WendlingChief Accounting Officer & Principal Financial Officer52
Ms. Renee L. Wilm J.D.Chief Legal Officer & Chief Administrative Officer51
Mr. Wade D. HaufschildSenior Vice President49

第二部分 · 价格与买入时机

这一部分不判断公司是否值得拥有:它帮助你在基本面说服你之后,选择何时买入。包含:技术分析、潜力、历史回撤、Gamma 敞口。

Latest News

Recent headlines for LBRDA, sourced from Markets Gazette.

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