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LBRDK

Liberty Broadband Corporation

LBRDK

Liberty Broadband Corporation • NASDAQ
$46.29 ▲ 0.17% (+0.08)
Market Cap $6.64 B
52w High $97.38
52w Low $44.63
Dividend Yield 0%
P/E 5.56
Volume 339.99K
Outstanding Shares 143.42M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 ▼ $8M ▼ $-154M ▼ 0% ▼ $-1.08 ▼ $283M ▲
Q2-2025 $261M ▼ $162M ▼ $383M ▲ 146.743% ▲ $2.68 ▲ $93M ▼
Q1-2025 $266M ▲ $165M ▼ $268M ▼ 100.752% ▼ $1.87 ▼ $96M ▲
Q4-2024 $263M ▲ $181M ▲ $291M ▲ 110.646% ▲ $2.03 ▲ $63M ▼
Q3-2024 $262M $168M $142M 54.198% $0.99 $85M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $73M ▼ $13.193B ▼ $4.123B ▼ $9.07B ▼
Q2-2025 $180M ▼ $16.593B ▼ $6.179B ▼ $10.396B ▲
Q1-2025 $226M ▲ $16.995B ▲ $6.928B ▲ $10.052B ▲
Q4-2024 $163M ▼ $16.687B ▲ $6.879B ▲ $9.793B ▲
Q3-2024 $168M $16.303B $6.765B $9.52B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-154M ▼ $-18M ▼ $281M ▲ $-382M ▲ $-119M ▲ $101M ▲
Q2-2025 $383M ▲ $91M ▲ $254M ▼ $-714M ▼ $-369M ▼ $37M ▲
Q1-2025 $268M ▼ $78M ▲ $257M ▲ $1M ▲ $336M ▲ $13M ▲
Q4-2024 $291M ▲ $1M ▼ $61M ▼ $-7M ▼ $55M ▼ $-63M ▼
Q3-2024 $142M $24M $73M $-2M $95M $-36M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q2-2025
GCI Holdings
GCI Holdings
 $250.00M ▲$260.00M ▲$510.00M ▲$260.00M ▼
Charter
Charter
 $13.69Bn ▲$13.79Bn ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Liberty Broadband’s income statement looks profitable but somewhat uneven, which is typical for a holding company that relies heavily on the performance and accounting of its major investments, especially Charter. Revenue has grown modestly over time, and the company has stayed solidly in the black, but earnings have swung around from year to year, suggesting a mix of underlying business performance and one‑off or market‑driven items. Operating profit was very strong a few years ago and has settled at more moderate levels recently, which could reflect lower gains from investments or higher corporate costs. Overall, the picture is of a financially healthy, asset‑driven company with good profitability but with results that are not perfectly smooth from year to year.

Balance Sheet

Balance Sheet The balance sheet is dominated by long‑term investment stakes, not factories or large operating assets, which is exactly what you’d expect from a holding company. Total assets have drifted down from earlier highs but remain sizable, while shareholder equity has shrunk and then begun to rebuild, indicating both value creation and capital returns over time. Debt sits at a meaningful but fairly stable level, suggesting a deliberate use of leverage rather than aggressive borrowing. Cash on hand is quite limited relative to total assets, so liquidity depends more on access to capital markets and cash distributions from holdings than on a large cash war chest.

Cash Flow

Cash Flow Cash flow is the main weak spot on a standalone basis. Day‑to‑day operating cash generation has been small and occasionally negative, and free cash flow has consistently been in the red after corporate overhead and investment spending. This tells you Liberty Broadband functions more as an investment platform than as a cash‑rich operating business; it likely funds buybacks, interest, and other needs through dividends or distributions from Charter and GCI, plus periodic financing moves. The structure works as long as underlying assets keep generating cash and capital markets remain open, but it leaves less cushion if conditions tighten.

Competitive Edge

Competitive Edge Liberty Broadband’s competitive position is really the competitive position of Charter and GCI. Through Charter, it is tied to one of the largest cable and broadband providers in the United States, with wide network coverage, scale advantages, and strong bundling power across internet, TV, and mobile. Through GCI, it is linked to a dominant regional player in Alaska with deep local knowledge and infrastructure that would be expensive and difficult for new entrants to replicate. On the other hand, Liberty is a holding company rather than an operator, so its influence is mostly strategic and financial, and its fortunes are exposed to rising competition from fiber, wireless, and regulatory pressures in U.S. broadband markets.

Innovation and R&D

Innovation and R&D Liberty Broadband itself does not drive technology in the field; it benefits from the innovation programs of Charter and GCI. Charter is pushing network upgrades toward next‑generation cable standards that support much faster, more symmetrical internet speeds, while also expanding converged offerings that bundle broadband, Wi‑Fi, and mobile service. GCI continues to invest in connecting hard‑to‑serve Alaskan communities, often with government support, which reinforces its local dominance and social relevance. Liberty’s “R&D” is more about capital allocation and strategic oversight—backing these technology and network upgrades and positioning its holdings to compete as broadband demand and usage patterns evolve.

Summary

Liberty Broadband is best viewed as a financial gateway into large, entrenched broadband and cable assets rather than as a traditional operating telecom. The income statement shows steady profitability but with swings that reflect the nature of investment accounting and capital markets. Its balance sheet is investment‑heavy, with stable leverage and modest equity rebuilding after prior drawdowns, but only a small cash buffer. Cash flow from its own operations is thin, so the company depends on its holdings and financing activities to support ongoing commitments. Competitively, it rides on Charter’s national scale and GCI’s regional strength, both of which enjoy meaningful but not unassailable advantages. Future outcomes will hinge on the success of Charter’s network and mobile convergence strategy, GCI’s rural expansion, and Liberty’s ability to continue deploying capital intelligently in a rapidly evolving broadband landscape.