NASDAQ · Communication Services

Charter Communications, Inc.

CHTR · Telecom Services

$165.34

▼ -6.4 (-3.73%)

Data cached · refreshes every 10 min

Mr. Market is currently offering Charter Communications, Inc. at $165.34.

The business passes 4 of 7 of Graham's defensive criteria — adequate but not exceptional.

Overall Grade

Defensive

Enterprising

Profitability B

Gross Profit Margin 56.5%

Operating Margin 24.3%

Net Income Margin 9.1%

Fin. Health F

Years to Pay Off Debt 19.5 yrs

Working Capital vs Long-Term Debt -$103.6B

Working Capital -$8.2B

Valuation B

Margin of Safety 45.7%

Price-to-Book 1.45x

Cash Flow C

Free Cash Flow $4.4B

CapEx % of Net Income 233.8%

Owner Earnings $25.4B

4/7

Graham Score

Enterprising

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Market Data

Market Cap $23.3B

Enterprise Value $122.1B

P/E (TTM) 4.47

Dividend Yield N/A

Exchange NASDAQ

Key Margins

Gross Profit 56.5%

Operating Margin 24.3%

Net Margin 9.1%

Company Info

Sector Communication Services

Industry Telecom Services

Employees 91900

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Charter Communications, Inc. at $165.34.

The business passes 4 of 7 of Graham's defensive criteria — adequate but not exceptional.

At $165.34, the stock trades below its Graham Number of $304.38 — suggesting a margin of safety exists.

The margin of safety of 45.7% exceeds Graham's recommended 33% threshold — a rare opportunity.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: This stock is better suited for Graham's Enterprising investor — one willing to devote time and skill to security selection.

About Charter Communications, Inc.

Charter Communications, Inc. operates as a broadband connectivity company in the United States. The company offers subscription-based internet, mobile, video, and voice services; broadband connectivity services, including fixed internet, WiFi, and mobile; Spectrum internet products; advanced WiFi services; and in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their wireless internet experience. It also offers wireline voice communications services using voice over internet protocol technology; Call Guard, an advanced caller ID and robocall blocking solution; video programming and video services, including access to an interactive programming guide with parental controls, video on demand and pay-per-view services; and broadband communications solutions, such as internet access, data networking, fiber connectivity, video entertainment, and business telephone services. In addition, the company provides advertising services on cable television networks, various streaming services, and advertising platforms for local, regional and national businesses. Further, it offers production and technical services for regional sports networks; owns and manages local news channels, including Spectrum News NY1® and Spectrum News SoCal; and delivers broadband connectivity solutions to apartments, single-family gated communities, off-campus student housing, senior residences, and RV parks. The company was founded in 1993 and is headquartered in Stamford, Connecticut.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022	2021
Gross Profit %	56.5% ▲	55.8%	54.8%	54.6%	N/A
Operating Margin %	24.3% ▲	24.0%	22.9%	22.7%	N/A
Net Income %	9.1% ▼	9.2%	8.3%	9.4%	N/A
Diluted EPS	36.21 ▲	34.97	29.99	30.74	N/A

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$154.2B	$150.0B	$147.2B	$144.5B	N/A
Total Debt	$97.1B ↑	$95.8B	$98.2B	$97.6B	N/A
Working Capital	-$8.2B ▲	-$9.3B	-$9.1B	-$8.0B	N/A
Years to Pay Debt	19.47	18.84	21.55	19.31	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	$4.4B ▲	$3.2B	$3.3B	$5.5B	N/A
Owner Earnings	$25.4B	$25.0B	$24.4B	$23.3B	N/A
CapEx % of Net Income	233.8%	221.7%	243.9%	185.5%	N/A

Income Statement

	2025	2024	2023	2022	2021
Tax Effect Of Unusual Items	-106,917	-35,200	22,040	-81,925
Tax Rate For Calcs	0	0	0	0
Normalized EBITDA	21,682,000	21,564,000	20,643,000	21,300,000
Total Unusual Items	-471,000	-160,000	95,000	-379,000
Total Unusual Items Excluding Goodwill	-471,000	-160,000	95,000	-379,000
Net Income From Continuing Operation Net Minority Interest	4,987,000	5,083,000	4,557,000	5,055,000
Reconciled Depreciation	8,711,000	8,673,000	8,696,000	8,903,000
Reconciled Cost Of Revenue	23,806,000	24,349,000	24,700,000	24,511,000
EBITDA	21,211,000	21,404,000	20,738,000	20,921,000
EBIT	12,500,000	12,731,000	12,042,000	12,018,000
Net Interest Income	-5,042,000	-5,229,000	-5,188,000	-4,556,000
Interest Expense	5,042,000	5,229,000	5,188,000	4,556,000
Normalized Income	5,351,083	5,207,800	4,484,040	5,352,075
Net Income From Continuing And Discontinued Operation	4,987,000	5,083,000	4,557,000	5,055,000
Total Expenses	41,450,000	41,840,000	42,101,000	41,779,000
Total Operating Income As Reported	12,908,000	13,118,000	12,559,000	11,962,000
Diluted Average Shares	137,744	145,364	151,966	164,434
Basic Average Shares	135,155	143,061	149,208	161,501
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	4,987,000	5,083,000	4,557,000	5,055,000
Average Dilution Earnings			0	0	70,000
Net Income Common Stockholders	4,987,000	5,083,000	4,557,000	5,055,000
Net Income	4,987,000	5,083,000	4,557,000	5,055,000
Minority Interests	-779,000	-770,000	-704,000	-794,000
Net Income Including Noncontrolling Interests	5,766,000	5,853,000	5,261,000	5,849,000
Net Income Continuous Operations	5,766,000	5,853,000	5,261,000	5,849,000
Tax Provision	1,692,000	1,649,000	1,593,000	1,613,000
Pretax Income	7,458,000	7,502,000	6,854,000	7,462,000
Other Income Expense	-824,000	-514,000	-464,000	-225,000
Other Non Operating Income Expenses	4,000	-23,000	-216,000	254,000
Special Income Charges	-444,000	-126,000	50,000	-284,000
Gain On Sale Of Ppe	-130,000	12,000	251,000	-8,000
Other Special Charges	185,000	138,000	201,000	276,000
Restructuring And Mergern Acquisition	129,000	0	0
Earnings From Equity Interest	-357,000	-331,000	-343,000	-100,000
Gain On Sale Of Security	-27,000	-34,000	45,000	-95,000
Net Non Operating Interest Income Expense	-5,042,000	-5,229,000	-5,188,000	-4,556,000
Interest Expense Non Operating	5,042,000	5,229,000	5,188,000	4,556,000
Operating Income	13,324,000	13,245,000	12,506,000	12,243,000
Operating Expense	17,644,000	17,491,000	17,401,000	17,268,000
Other Operating Expenses	4,478,000	4,577,000	4,544,000	4,310,000
Depreciation Amortization Depletion Income Statement	8,711,000	8,673,000	8,696,000	8,903,000
Depreciation And Amortization In Income Statement	8,711,000	8,673,000	8,696,000	8,903,000
Selling General And Administration	4,455,000	4,241,000	4,161,000	4,055,000
Selling And Marketing Expense	3,782,000	3,590,000	3,469,000	3,585,000
General And Administrative Expense	673,000	651,000	692,000	470,000
Salaries And Wages	673,000	651,000	692,000	470,000
Gross Profit	30,968,000	30,736,000	29,907,000	29,511,000
Cost Of Revenue	23,806,000	24,349,000	24,700,000	24,511,000
Total Revenue	54,774,000	55,085,000	54,607,000	54,022,000
Operating Revenue	51,363,000	52,043,000	51,811,000	51,848,000

Balance Sheet

	2025	2024	2023	2022	2021
Treasury Shares Number	16,541	4,035	5,389
Ordinary Shares Number	126,632	141,946	145,225	152,651
Share Issued	126,632	145,981	150,614	152,651
Net Debt	96,644,000	95,304,000	97,493,000	96,958,000
Total Debt	97,121,000	95,763,000	98,202,000	97,603,000
Tangible Book Value	-81,567,000	-82,524,000	-87,723,000	-90,579,000
Invested Capital	113,175,000	111,350,000	109,288,000	106,722,000
Working Capital	-8,162,000	-9,253,000	-9,082,000	-8,048,000
Net Tangible Assets	-81,567,000	-82,524,000	-87,723,000	-90,579,000
Capital Lease Obligations				295,000	269,000
Common Stock Equity	16,054,000	15,587,000	11,086,000	9,119,000
Total Capitalization	111,507,000	108,793,000	106,863,000	105,212,000
Total Equity Gross Minority Interest	20,519,000	19,707,000	14,718,000	12,549,000
Minority Interest	4,465,000	4,120,000	3,632,000	3,430,000
Stockholders Equity	16,054,000	15,587,000	11,086,000	9,119,000
Retained Earnings	-5,393,000	-7,750,000	-12,260,000	-14,821,000
Additional Paid In Capital	21,447,000	23,337,000	23,346,000	23,940,000
Total Liabilities Net Minority Interest	133,694,000	130,313,000	132,475,000	131,974,000
Total Non Current Liabilities Net Minority Interest	120,388,000	116,827,000	119,261,000	119,909,000
Other Non Current Liabilities	5,094,000	4,776,000	4,530,000	4,758,000
Non Current Deferred Liabilities	19,841,000	18,845,000	18,954,000	19,058,000
Non Current Deferred Taxes Liabilities	19,841,000	18,845,000	18,954,000	19,058,000
Long Term Debt And Capital Lease Obligation	95,453,000	93,206,000	95,777,000	96,093,000
Long Term Debt	95,453,000	93,206,000	95,777,000	96,093,000
Current Liabilities	13,306,000	13,486,000	13,214,000	12,065,000
Other Current Liabilities	2,166,000	1,889,000	2,377,000	2,240,000
Current Deferred Liabilities	422,000	456,000	509,000	511,000
Current Deferred Revenue	422,000	456,000	509,000	511,000
Current Debt And Capital Lease Obligation	1,668,000	2,557,000	2,425,000	1,510,000
Current Capital Lease Obligation				295,000	269,000
Current Debt	1,668,000	2,557,000	2,425,000	1,510,000
Other Current Borrowings	1,668,000	2,557,000	2,425,000	1,510,000
Payables And Accrued Expenses	9,050,000	8,584,000	7,903,000	7,804,000
Current Accrued Expenses	7,495,000	7,055,000	6,291,000	6,185,000
Interest Payable	1,259,000	1,208,000	1,328,000	1,165,000
Payables	1,555,000	1,529,000	1,612,000	1,619,000
Total Tax Payable	521,000	649,000	681,000	667,000
Accounts Payable	1,034,000	880,000	931,000	952,000
Total Assets	154,213,000	150,020,000	147,193,000	144,523,000
Total Non Current Assets	149,069,000	145,787,000	143,061,000	140,506,000
Other Non Current Assets	5,004,000	4,763,000	4,732,000	4,769,000
Goodwill And Other Intangible Assets	97,621,000	98,111,000	98,809,000	99,698,000
Other Intangible Assets	67,911,000	68,437,000	69,141,000	70,135,000
Goodwill	29,710,000	29,674,000	29,668,000	29,563,000
Net PPE	46,444,000	42,913,000	39,520,000	36,039,000
Accumulated Depreciation	-41,514,000	-39,409,000	-37,751,000	-36,164,000
Gross PPE	87,958,000	82,322,000	77,271,000	72,203,000
Other Properties	71,688,000	66,481,000	61,604,000	56,802,000
Machinery Furniture Equipment	10,193,000	9,875,000	9,757,000	9,568,000
Buildings And Improvements	6,077,000	5,966,000	5,910,000	5,833,000
Current Assets	5,144,000	4,233,000	4,132,000	4,017,000
Other Current Assets	987,000	677,000	458,000	451,000
Prepaid Assets					386,000
Receivables	3,680,000	3,097,000	2,965,000	2,921,000
Accounts Receivable	3,680,000	3,097,000	2,965,000	2,921,000
Allowance For Doubtful Accounts Receivable	-219,000	-204,000	-268,000	-219,000
Gross Accounts Receivable	3,899,000	3,301,000	3,233,000	3,140,000
Cash Cash Equivalents And Short Term Investments	477,000	459,000	709,000	645,000
Cash And Cash Equivalents	477,000	459,000	709,000	645,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	4,418,000	3,161,000	3,318,000	5,549,000
Repurchase Of Capital Stock	-5,132,000	-1,213,000	-3,215,000	-10,277,000
Repayment Of Debt	-14,797,000	-29,660,000	-21,938,000	-19,311,000
Issuance Of Debt	15,860,000	26,967,000	22,062,000	25,643,000
Capital Expenditure	-11,659,000	-11,269,000	-11,115,000	-9,376,000
Interest Paid Supplemental Data	4,983,000	5,334,000	5,020,000	4,509,000
Income Tax Paid Supplemental Data		1,581,000	1,470,000	1,321,000	157,000
End Cash Position	598,000	506,000	709,000	645,000
Beginning Cash Position	506,000	709,000	645,000	601,000
Changes In Cash	92,000	-203,000	64,000	44,000
Financing Cash Flow	-4,365,000	-3,979,000	-3,242,000	-5,767,000
Cash Flow From Continuing Financing Activities	-4,365,000	-3,979,000	-3,242,000	-5,767,000
Net Other Financing Charges	-316,000	-105,000	-173,000	-1,827,000
Proceeds From Stock Option Exercised	20,000	32,000	22,000	5,000
Net Common Stock Issuance	-5,132,000	-1,213,000	-3,215,000	-10,277,000
Common Stock Payments	-5,132,000	-1,213,000	-3,215,000	-10,277,000
Net Issuance Payments Of Debt	1,063,000	-2,693,000	124,000	6,332,000
Net Long Term Debt Issuance	1,063,000	-2,693,000	124,000	6,332,000
Long Term Debt Payments	-14,797,000	-29,660,000	-21,938,000	-19,311,000
Long Term Debt Issuance	15,860,000	26,967,000	22,062,000	25,643,000
Investing Cash Flow	-11,620,000	-10,654,000	-11,127,000	-9,114,000
Cash Flow From Continuing Investing Activities	-11,620,000	-10,654,000	-11,127,000	-9,114,000
Net Other Investing Changes	39,000	615,000	-12,000	262,000
Net Investment Properties Purchase And Sale					-128,000
Purchase Of Investment Properties					-128,000
Net PPE Purchase And Sale	-11,659,000	-11,269,000	-11,115,000	-9,376,000
Purchase Of PPE	-11,659,000	-11,269,000	-11,115,000	-9,376,000
Capital Expenditure Reported		1,096,000	172,000	553,000	80,000
Operating Cash Flow	16,077,000	14,430,000	14,433,000	14,925,000
Cash Flow From Continuing Operating Activities	16,077,000	14,430,000	14,433,000	14,925,000
Change In Working Capital	-653,000	-1,048,000	-447,000	-396,000
Change In Payables And Accrued Expense	280,000	-310,000	169,000	148,000
Change In Payable	280,000	-310,000	169,000	148,000
Change In Account Payable	280,000	-310,000	169,000	148,000
Change In Prepaid Assets	-517,000	-609,000	-572,000	-202,000
Change In Receivables	-416,000	-129,000	-44,000	-342,000
Changes In Account Receivables	-416,000	-129,000	-44,000	-342,000
Other Non Cash Items	567,000	388,000	311,000	12,000
Stock Based Compensation	673,000	651,000	692,000	470,000
Deferred Tax	1,013,000	-87,000	-80,000	87,000
Deferred Income Tax	1,013,000	-87,000	-80,000	87,000
Depreciation Amortization Depletion	8,711,000	8,673,000	8,696,000	8,903,000
Depreciation And Amortization	8,711,000	8,673,000	8,696,000	8,903,000
Net Income From Continuing Operations	5,766,000	5,853,000	5,261,000	5,849,000

These metrics estimate what Charter Communications, Inc. is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$304.38

Margin of Safety

45.7%

Market Cap ÷ Company Value

5.43

P/B Ratio

1.45

Warren's Owner Earnings

$25.4B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

4/7 — Enterprising Investor

✅ Adequate Size

$54.8B

vs > $1.5B revenue

❌ Strong Financial Condition

0.39x

vs Current Ratio > 2.0x

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

❌ Dividend Record

No dividend

vs Uninterrupted dividends

❌ Earnings Growth

+17.8% EPS growth

vs > 33% EPS growth

✅ Moderate P/E Ratio

4.5x

vs P/E ≤ 15.0x

✅ Moderate Price-to-Book

1.45x P/B (P/E×P/B: 6.5)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

$-910.55

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign.

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

$1,048.63

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	233.8%	221.7%	243.9%	185.5%	N/A
Repurchase of Capital Stock	-$5.1B	-$1.2B	-$3.2B	-$10.3B	N/A
Free Cash Flow	$4.4B ▲	$3.2B ▼	$3.3B ▼	$5.5B •	N/A •
Warren's Owner Earnings	$25.4B	$25.0B	$24.4B	$23.3B	N/A

Peers & Industry Comparison

Telecom Services — Auto-detected peers

Company	Price	Market Cap	P/E	Gross Margin	Net Margin	Revenue
CHTR	$165.34	$23.3B	4.47	56.5%	9.1%	$54.8B
T AT&T Inc.	$26.10	$181.4B	8.6	59.4%	16.9%	$126.5B
VZ Verizon Communications Inc.	$47.57	$198.7B	11.6	58.9%	12.5%	$139.1B
TMUS T-Mobile US, Inc.	$194.42	$210.4B	20.7	63.3%	11.6%	$90.5B
CMCSA Comcast Corporation	$27.07	$96.7B	5.3	70.1%	15.0%	$125.3B

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

36.28%

High — management has strong skin in the game

Return on Equity (ROE)

31.1%

Excellent — management generates strong returns on equity

Return on Assets (ROA)

3.2%

Fair — average asset utilization

Share Buybacks (Latest Year)

$5.1B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+1.4% YoY

Debt is roughly stable

Leadership Team

Christopher Winfrey

President, CEO & Director

Age 49

Pay: $6,466,193

0.130% of net income

Jessica Fischer

Chief Financial Officer

Age 38

Pay: $2,456,348

0.049% of net income

Richard DiGeronimo

President of Product & Technology

Age 47

Pay: $4,699,591

0.094% of net income

Adam Ray

Executive VP, Chief Commercial Officer & President of Spectrum Enterprise

Age 48

Pay: $1,805,456

0.036% of net income

Stefan Anninger

Vice President of Investor Relations

Top Institutional Holders

Institution	% Owned	Shares
Dodge & Cox Inc.	11.88%	14,609,220
Vanguard Group Inc	8.33%	10,248,287
Blackrock Inc.	5.62%	6,917,059
State Street Corporation	5.35%	6,576,871
Capital Research Global Investors	3.92%	4,815,422
Harris Associates L.P.	3.53%	4,344,822
First Eagle Investment Management, LLC	2.41%	2,969,507
Invesco Ltd.	2.26%	2,777,898

⚠️ Very high debt-to-equity — leverage risk

⚠️ Short interest exceeds 20% — heavy bearish bets

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.76

Low volatility — more stable than the market

Short Interest

37.0% of float

Heavy short selling — market has significant bearish bets

Debt-to-Equity

4.60x

High leverage — significant financial risk

Current Ratio

0.40x

Weak liquidity — current liabilities exceed current assets

52-Week Price Range

Low: $158.00 Current: $165.34 High: $437.06

Currently at 3% of 52-week range

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