CHARTER COMMUNICATIONS, INC. /MO/CHTR

CHARTER COMMUNICATIONS, INC. /MO/ Financial Overview 2021–2025

Updated Aug 8, 2026

Charter Communications masked a bleeding traditional video business by adding a staggering 1.9 million mobile lines in FY2025 alone. This aggressive wireless expansion forms the core investment thesis for the highly leveraged cable operator, which is successfully pivoting into a converged connectivity provider to offset legacy subscriber churn.

The company's top line expanded from $51.7 billion in FY2021 to $54.77 billion in FY2025, driven almost entirely by mobile adoption and broadband pricing power. Over this same timeframe, Adjusted EBITDA climbed from $20.6 billion in FY2021 to $22.71 billion in FY2025. Charter navigated severe headwinds, including the loss of 508,000 internet customers in FY2024 after federal subsidies expired, by achieving a 22.0% increase in mobile service revenues the following year. Even while deploying a massive $11.7 billion in capital expenditures for network evolution and rural builds in FY2025, the business still generated $5.0 billion in free cash flow.

Despite this underlying cash generation, the market priced Charter at just $208.75 at the close of FY2025, translating to a compressed multiple of 5.8x earnings. This discounted valuation reflects persistent investor anxiety over the company's $94.6 billion debt load and the execution risks tied to integrating pending mega-deals for Liberty Broadband and Cox Communications' commercial assets.

Recent Developments (Q1 and Q2 2026)

Charter's legacy headwinds accelerated, punctuated by a 1.7% revenue decline in Q2 2026 as internet customer losses deepened to 172,000. Adjusted EBITDA slipped 4.3% year-over-year in the second quarter, pressured by transition expenses for the impending Cox Communications acquisition. To navigate this pivot, the company appointed telecom veteran Nick Jeffery as Chief Operating Officer, effective September 1, 2026, and launched debt exchange offers targeting up to $3.5 billion to manage maturities.

Bulls will highlight the ongoing success of the wireless convergence strategy, as mobile service revenues surged 18.9% in Q2 2026. Conversely, bears argue that aggressive capital expenditures—totaling $5.73 billion over the first six months—and the assumption of $12.4 billion in new Cox debt limit financial flexibility. Amid these pressures, shares dropped to $123.31, trading at 3.4x earnings as of the Q2 2026 reporting date.

What to watch: integration progress and leverage impacts from the Cox transactions; Nick Jeffery's strategic adjustments upon assuming the COO role.

Rev

$54.77B

-0.6% YoY

FY2025

NI

$4.99B

-1.9% YoY

FY2025

EPS

$36.90

+3.9% YoY

FY2025

OCF

$16.08B

+11.4% YoY

FY2025

Revenue Trend
Beta

Year-over-year comparison from 10-K annual reports

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Data from SEC Company Facts

All CHTR Financial Metrics(56)

Recent SEC Filings

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Executive Changes (Aug 31, 2026)

Charter Communications, Inc. (CHTR) has filed an 8-K report announcing a change in its Chief Financial Officer position. Jessica M. Fischer, the current CFO, has resigned to pursue another opportunity and is expected to remain in her role until October 15, 2026, to ensure a smooth transition, including assisting with the company's quarterly closing process. The company states that Ms. Fischer's departure is amicable and not due to any disagreements regarding financial reporting or company operations, and that previously provided financial outlooks and policies remain unchanged. In response to Ms. Fischer's resignation, the Board of Directors has appointed Kevin D. Howard as the Interim Chief Financial Officer, effective October 15, 2026. Mr. Howard, currently Executive Vice President, Chief Accounting Officer and Controller, brings extensive experience with Charter since 2002 and prior experience from Arthur Andersen LLP. His appointment aims to provide continuity in financial leadership while the company conducts a search for a permanent CFO. Investors should note that this transition is presented as orderly and without impact on the company's financial guidance.

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Material Agreement (Aug 26, 2026)

This 8-K filing by Charter Communications, Inc. (CHTR) details the crucial steps taken to integrate the acquired businesses of Cox Communications, Inc. (Cox) following the previously announced transaction. Specifically, the filing discloses the entry into material definitive agreements, primarily supplemental indentures, that formally add certain Cox entities as guarantors for Charter's existing debt facilities, including its primary credit agreement and various note indentures (CCO, TWC, TWCE). This action is a necessary component of the overall transaction, ensuring that the combined entity's debt structure reflects the integration and provides equivalent collateral and obligor support across the capital structure. Furthermore, the filing confirms that these new guarantors have granted security interests in their assets, making them collateral for the relevant debt obligations. This ensures that all series of secured notes, along with the Charter Credit Agreement, benefit from the same collateral and obligors on a pari passu basis. Investors should view these filings as a positive step in finalizing the integration of the Cox assets and solidifying the financial framework of the combined company, reducing potential financial complexities and enhancing the security for debt holders.

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Material Agreement (Aug 24, 2026)

Charter Communications, Inc. (CHTR) filed an 8-K on August 24, 2026, to announce the final settlement of its previously announced exchange offers for its senior secured notes. The company, through its operating subsidiaries, successfully exchanged a significant principal amount of older, lower-interest notes for newly issued, higher-interest notes due in 2038 and 2041. This strategic debt management action involved issuing approximately $1.73 billion in new 7.087% Senior Secured Notes due 2038 and approximately $1.66 billion in new 7.337% Senior Secured Notes due 2041. The filing details the issuance of both existing and additional notes as part of these exchange offers, which aimed to optimize the company's debt structure and maturity profile. The new notes are guaranteed by CCO Holdings, LLC and certain subsidiaries, and secured by a first-priority security interest in specified assets, consistent with prior agreements. Investors should note the higher interest rates on the newly issued debt and the substantial principal reduction achieved through these exchanges.

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Material Agreement (Aug 20, 2026)

Charter Communications, Inc. (CHTR) has announced the successful completion of two significant transactions on August 19, 2026. The first is the merger with Liberty Broadband Corporation, which has resulted in Liberty becoming a wholly-owned subsidiary of Charter. This transaction involved the conversion of Liberty's common and preferred stock into Charter's Class A common stock and Series A Cumulative Redeemable Preferred Stock, respectively, with specific exchange ratios and cash in lieu for fractional shares. Notably, existing Liberty stock options were cancelled as their exercise price exceeded the merger consideration value, while restricted stock units vested and received merger consideration. The second major transaction involves Cox Enterprises, Inc. (Cox Parent). Charter has acquired substantially all of Cox's commercial fiber and managed IT/cloud services businesses through an equity sale, and received contributions of Cox's residential cable business and other assets in exchange for cash, Charter Holdings convertible preferred units, Charter Holdings common units, and a share of new Charter Class C common stock. This complex transaction brings approximately $12 billion of Cox debt and finance leases onto Charter's balance sheet. Significant ancillary agreements have been established, including a new Stockholders Agreement that impacts board composition, director appointments, and ownership/voting limitations for Cox Parent and Advance/Newhouse Partnership, alongside updated LLC, Tax Receivables, Exchange, and Registration Rights agreements.

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Material Agreement (Aug 18, 2026)

Charter Communications, Inc. (CHTR) has filed an 8-K report detailing the issuance of a significant amount of senior secured notes on August 18, 2026. The company, through its subsidiaries Charter Communications Operating, LLC and Charter Communications Operating Capital Corp., has successfully issued a total of $4.75 billion in aggregate principal amount across four series of notes: $1.75 billion in 6.050% Senior Secured Notes due 2032, $1 billion in 6.600% Senior Secured Notes due 2034, $1 billion in 6.950% Senior Secured Notes due 2036, and $1 billion in 7.850% Senior Secured Notes due 2056. These notes are senior secured obligations, guaranteed on a senior secured basis by CCO Holdings, LLC (the Parent Guarantor) and certain subsidiaries. The issuance was made under an existing automatic shelf registration statement and a prospectus supplement. The proceeds from this offering will be used to refinance existing debt or for general corporate purposes, as is typical for such debt issuances. Investors should note the varying interest rates and maturity dates across these new debt instruments, as well as the covenants and events of default outlined in the supplemental indenture.

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