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LBRDP

Liberty Broadband Corporation

LBRDP

Liberty Broadband Corporation • NASDAQ
$24.38 ▲ 0.04% (+0.01)
Market Cap $8.53 B
52w High $26.88
52w Low $23.39
Dividend Yield 1.75%
P/E 4.47
Volume 1.46K
Outstanding Shares 350.07M

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 Q3-2024Q4-2024Q1-2025Q2-2025
GCI Holdings
GCI Holdings
 $260.00M ▲$510.00M ▲$270.00M ▼$260.00M ▼
Charter
Charter
 $13.79Bn ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Liberty Broadband’s earnings profile is solid but choppy. Revenue has inched upward over the past few years, but the real story is that profits are driven much more by its ownership stakes (especially in Charter) than by traditional operating activity. Net income has stayed positive every year and has been quite strong at times, although it swings meaningfully from year to year, reflecting market-driven items and one‑off effects rather than a smooth operating trend. Overall, profitability looks healthy, but not “predictable” in the classic sense; results can move around based on investment-related accounting, not just day‑to‑day telecom operations.

Balance Sheet

Balance Sheet The balance sheet is asset‑heavy and built around long‑term holdings in communications infrastructure and equity stakes. Total assets have dipped and then recovered, while shareholder equity has followed a similar “down then up” pattern, suggesting prior capital returns or valuation changes that are now stabilizing. Debt levels are meaningful but not extreme and have been edging down over time, which reduces financial risk. The main weak point is a relatively small cash cushion, which means the company is more dependent on steady inflows from its investments and access to capital markets to stay flexible.

Cash Flow

Cash Flow Cash generation from operations has been modest, hovering around breakeven in several years and only recently turning more clearly positive. At the same time, the company has consistently spent more cash than it generates once you factor in capital spending and other investments, leading to negative free cash flow each year. That pattern is typical for an asset‑holding telecom vehicle focused on long‑term value creation, but it does mean the structure relies on dividends, asset‑related cash flows, or additional financing to cover outlays and any shareholder distributions. The improving but still negative free‑cash‑flow trend is a key point to watch.

Competitive Edge

Competitive Edge Liberty Broadband’s strength comes from what it owns: a large stake in Charter Communications and full ownership of GCI in Alaska. Together, these assets sit on top of very hard‑to‑replicate networks. Charter’s nationwide cable and fiber‑rich footprint and its bundling of internet, Wi‑Fi, mobile, and video create strong customer stickiness and high barriers to entry in many local markets. GCI enjoys a near‑entrenched position in Alaska, where terrain and scale make it difficult for new competitors to build similar networks. The flip side is concentration risk: Liberty Broadband’s fortunes are tightly tied to the competitive and regulatory environment facing cable and wireless in the U.S., including pressure from fiber overbuilders and fixed wireless alternatives.

Innovation and R&D

Innovation and R&D While Liberty Broadband itself is a holding company, its underlying assets are pushing forward on technology. Charter is upgrading its network with DOCSIS 4.0 and selectively adding more fiber, which should allow much faster speeds without completely rebuilding its infrastructure, and it is rolling out next‑generation Wi‑Fi in the home. Its Spectrum Mobile offering uses a hybrid of mobile and Wi‑Fi to deliver a converged service bundle, which is an important growth lever. In Alaska, GCI is innovating with custom wireless equipment designed for remote, sparsely populated areas, improving economics in places that are traditionally hard to serve. Overall, the focus is on applied network engineering and product bundling rather than classic lab‑style R&D, but it still represents a technology‑driven, innovation‑oriented approach.

Summary

Liberty Broadband is essentially a leveraged play on U.S. broadband and mobile connectivity, channeled through Charter and GCI. Financially, it shows strong but volatile earnings, a solid asset base, manageable leverage, and chronically weak free cash flow that relies on its investments and financing access to balance the books. Competitively, its core holdings benefit from large, entrenched network positions and sticky bundles, especially in markets where building rival infrastructure is costly. Technologically, the group is leaning into network upgrades and converged services, with an eye on rural and hard‑to‑serve geographies. The main things to keep in mind are the dependence on a few key assets, the lumpiness of reported earnings, and the ongoing need to carefully manage cash and leverage as the industry continues to evolve.