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On June 20, 2025 the board set a record date of June 30, 2025 and a distribution date of July 14, 2025 for the spin-off of GCI Liberty, Inc., with an expected distribution ratio of 0.20 shares of GCI Group common stock per Liberty share.
Liberty Broadband completed the spin-off on July 14, 2025; GCI Liberty Series A and C began regular-way trading on Nasdaq on July 15, 2025.
Nasdaq-approved when-issued trading for GCI Liberty occurred in the days immediately before the distribution, with ex-dividend procedures set to reflect the July 15, 2025 ex-dividend date.
On August 21, 2025 Liberty Broadband declared the quarterly cash dividend on its Series A cumulative redeemable preferred stock, payable October 15, 2025 to holders of record September 30, 2025.
Technical Analysis
ADX / Directional Indicators: ADX at 35.13 signals a strong trend environment; DI+ shows a dip & reversal (bullish) while DI- shows a peak & reversal (bullish), indicating recent directional pressure that favors continuation of an emergent directional move into the short term.
MACD: MACD at -1.78 has been increasing and sits above the signal line (-2.45), representing a bullish momentum cross despite negative absolute MACD values; this suggests improving momentum from recent bearish levels and supports a near-term bounce narrative.
MRO (Momentum/Regression Oscillator): MRO at 9.98 sits on the positive side, signaling price sits above the modeled target and therefore carries an elevated risk of mean reversion toward fair value, which can cap upside following technical rallies.
RSI: RSI at 37.5 with a peak & reversal indicates bearish pressure in momentum; that bearish RSI profile increases the likelihood that rallies will meet resistance until momentum metrics recover.
Price vs Averages & Bollinger Bands: Price closed at $60.29, below the 50-day ($67.26) and 200-day ($76.50) averages and near the 20-day average ($60.41); the price recently executed a dip & reversal below the lower 2x Bollinger band, signalling an oversold bounce but one that remains beneath longer-term averages and therefore susceptible to reversion.
Ichimoku & EMAs: Chikou span below the cloud and a 12-day EMA showing a peak & reversal create a bearish baseline in trend-following measures, limiting conviction for sustained upside until on-chart confirmations occur.
Volume: Recent volume (807,354) sits below short- and long-term averages, indicating muted participation that may weaken breakout follow-through and leave price moves vulnerable to low-liquidity volatility.
Fundamental Analysis
Top-line and Margins: Total revenue registered at $261,000,000 with YoY revenue growth of -560.78% and QoQ revenue growth of -264.77%, while operating margin stands at 15.71% and EBIT margin at 173.95%. YoY and QoQ figures indicate sharp sequential and annual variability; operating and EBIT margins present a profile where operating profitability (15.71%) contrasts with an unusually high EBIT margin figure (173.95%).
Cash Flow and Liquidity: Operating cash flow totaled $91,000,000 and free cash flow reached $37,000,000 with a free cash flow yield of 0.357%. Cash and short-term investments equal $180,000,000 while net debt stands at $2,889,000,000; the cash ratio registers 29.80% and the current ratio reads 0.60265, reflecting constrained near-term liquidity coverage.
Leverage and Coverage: Total debt equals $3,139,000,000 with debt-to-equity at 30.19% and debt-to-EBITDA about 6.20x; interest coverage at 11.35x indicates adequate ability to service interest but elevated leverage relative to immediate cash-generation metrics.
Valuation Multiples: Price-to-sales sits at 39.69x versus an industry peer mean of 2.28x and median of 2.99x — a material premium to peer sales multiples. Price-to-book at 0.9965 approximates the industry peer median (0.99124) and sits slightly below the industry peer mean (1.07051). Forward P/E at 40.85x slightly exceeds the industry peer mean (40.65x) but falls below the industry peer median (60.55x). Enterprise multiple measures near 26.32x, essentially in line with the industry peer median (26.21x).
Profitability & Returns: Return on equity registers 3.68% and return on assets 2.28%; cash-flow-to-earnings sits at 124.28%, indicating a higher cash conversion relative to accounting earnings in the period measured.
Valuation Conclusion: WMDST values the stock as over-valued, a view that aligns with a stretched price-to-sales multiple, muted free cash flow yield, and constrained liquidity metrics despite adequate interest coverage. The combination of stretched sales-based valuation and modest cash generation underpins limited fundamental upside absent material improvements in revenue and cash flow.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-08-06 |
| NEXT REPORT DATE: | 2025-11-05 |
| CASH FLOW | Begin Period Cash Flow | $ 565.0 M |
| Operating Cash Flow | $ 91.0 M | |
| Capital Expenditures | $ -54.00 M | |
| Change In Working Capital | $ 40.0 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -369.00 M | |
| End Period Cash Flow | $ 196.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 261.0 M | |
| Forward Revenue | $ 54.1 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 52.0 M | |
| Depreciation and Amortization | $ 52.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 220.0 M | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ 506.0 M | |
| EBIT | $ 454.0 M | |
| Operating Income | $ 41.0 M | |
| Interest Income | — | |
| Interest Expense | $ 40.0 M | |
| Net Interest Income | $ -40.00 M | |
| Income Before Tax | $ 414.0 M | |
| Tax Provision | $ 31.0 M | |
| Tax Rate | 7.0 % | |
| Net Income | $ 383.0 M | |
| Net Income From Continuing Operations | $ 383.0 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ 2.21 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 16.6 B | |
| Intangible Assets | $ 1.7 B | |
| Net Tangible Assets | $ 8.7 B | |
| Total Current Assets | $ 364.0 M | |
| Cash and Short-Term Investments | $ 180.0 M | |
| Cash | $ 180.0 M | |
| Net Receivables | $ 133.0 M | |
| Inventory | — | |
| Long-Term Investments | $ 227.0 M | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | $ 396.0 M | |
| Total Current Liabilities | $ 604.0 M | |
| Net Debt | $ 2.9 B | |
| Total Debt | $ 3.1 B | |
| Total Liabilities | $ 6.2 B | |
| EQUITY | ||
| Total Equity | $ 10.4 B | |
| Retained Earnings | $ 7.4 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 72.53 | |
| Shares Outstanding | 143.489 M | |
| Revenue Per-Share | $ 1.82 | |
| VALUATION | Market Capitalization | $ 10.4 B |
| Enterprise Value | $ 13.3 B | |
| Enterprise Multiple | 26.321 | |
| Enterprise Multiple QoQ | -39.257 % | |
| Enterprise Multiple YoY | 15.856 % | |
| Enterprise Multiple IPRWA | high: 26.525 LBRDK: 26.321 median: 26.213 mean: 7.342 low: -48.67 |
|
| EV/R | 51.029 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.596 | |
| Asset To Liability | 2.685 | |
| Debt To Capital | 0.232 | |
| Debt To Assets | 0.189 | |
| Debt To Assets QoQ | -17.222 % | |
| Debt To Assets YoY | 99468.421 % | |
| Debt To Assets IPRWA | high: 0.715 mean: 0.325 LBRDK: 0.189 low: 0.189 median: 0.189 |
|
| Debt To Equity | 0.302 | |
| Debt To Equity QoQ | -21.856 % | |
| Debt To Equity YoY | 94256.25 % | |
| Debt To Equity IPRWA | high: 13.563 mean: 2.678 LBRDK: 0.302 low: 0.302 median: 0.302 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.997 | |
| Price To Book QoQ | -15.195 % | |
| Price To Book YoY | 13.808 % | |
| Price To Book IPRWA | high: 2.314 mean: 1.071 LBRDK: 0.997 median: 0.991 low: 0.292 |
|
| Price To Earnings (P/E) | — | |
| Price To Earnings QoQ | — | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | — | |
| Price To Sales (P/S) | 39.692 | |
| Price To Sales QoQ | -10.612 % | |
| Price To Sales YoY | 19.357 % | |
| Price To Sales IPRWA | LBRDK: 39.692 high: 2.99 median: 2.99 mean: 2.283 low: 1.271 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 40.849 | |
| Forward PE/G | — | |
| Forward P/S | 191.536 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -26.25 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.016 | |
| Asset Turnover Ratio QoQ | -1.583 % | |
| Asset Turnover Ratio YoY | 0.129 % | |
| Asset Turnover Ratio IPRWA | high: 0.096 mean: 0.036 LBRDK: 0.016 low: 0.016 median: 0.016 |
|
| Receivables Turnover | 1.7 | |
| Receivables Turnover Ratio QoQ | 17.937 % | |
| Receivables Turnover Ratio YoY | 25.105 % | |
| Receivables Turnover Ratio IPRWA | high: 3.924 mean: 1.884 LBRDK: 1.7 median: 1.7 low: 1.577 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 53.666 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -1.087 | |
| CapEx To Revenue | -0.207 | |
| CapEx To Depreciation | -1.038 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 13.1 B | |
| Net Invested Capital | $ 13.5 B | |
| Invested Capital | $ 13.5 B | |
| Net Tangible Assets | $ 8.7 B | |
| Net Working Capital | $ -240.00 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.298 | |
| Current Ratio | 0.603 | |
| Current Ratio QoQ | -56.673 % | |
| Current Ratio YoY | -64.114 % | |
| Current Ratio IPRWA | high: 1.076 mean: 0.771 LBRDK: 0.603 low: 0.603 median: 0.603 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 6.204 | |
| Cost Of Debt | 1.054 % | |
| Interest Coverage Ratio | 11.35 | |
| Interest Coverage Ratio QoQ | 49.342 % | |
| Interest Coverage Ratio YoY | 93.508 % | |
| Interest Coverage Ratio IPRWA | LBRDK: 11.35 high: 11.35 median: 11.35 mean: 1.895 low: -20.412 |
|
| Operating Cash Flow Ratio | 0.788 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -2.365 % | |
| Revenue Growth | -1.88 % | |
| Revenue Growth QoQ | -264.768 % | |
| Revenue Growth YoY | -560.784 % | |
| Revenue Growth IPRWA | high: 8.359 % mean: 0.68 % LBRDK: -1.88 % median: -1.88 % low: -3.867 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | 173.946 % | |
| EBIT Margin QoQ | 52.202 % | |
| EBIT Margin YoY | 40.297 % | |
| EBIT Margin IPRWA | LBRDK: 173.946 % high: 173.946 % median: 173.946 % mean: 52.079 % low: -208.289 % |
|
| Return On Sales (ROS) | 15.709 % | |
| Return On Sales QoQ | -86.255 % | |
| Return On Sales YoY | -87.33 % | |
| Return On Sales IPRWA | high: 16.914 % LBRDK: 15.709 % median: 15.709 % mean: 12.756 % low: 1.664 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 37.0 M | |
| Free Cash Flow Yield | 0.357 % | |
| Free Cash Flow Yield QoQ | 224.545 % | |
| Free Cash Flow Yield YoY | -183.411 % | |
| Free Cash Flow Yield IPRWA | high: 0.359 % median: 0.359 % LBRDK: 0.357 % mean: -0.818 % low: -4.483 % |
|
| Free Cash Growth | 184.615 % | |
| Free Cash Growth QoQ | -253.036 % | |
| Free Cash Growth YoY | -36.095 % | |
| Free Cash Growth IPRWA | LBRDK: 184.615 % high: 184.615 % median: 184.615 % mean: 103.428 % low: -102.635 % |
|
| Free Cash To Net Income | 0.097 | |
| Cash Flow Margin | 182.375 % | |
| Cash Flow To Earnings | 1.243 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 2.281 % | |
| Return On Assets QoQ | 43.369 % | |
| Return On Assets YoY | 85.447 % | |
| Return On Assets IPRWA | LBRDK: 2.281 % high: 2.281 % median: 2.281 % mean: -1.532 % low: -10.512 % |
|
| Return On Capital Employed (ROCE) | 2.839 % | |
| Return On Equity (ROE) | 0.037 | |
| Return On Equity QoQ | 38.185 % | |
| Return On Equity YoY | 76.521 % | |
| Return On Equity IPRWA | LBRDK: 0.037 high: 0.037 median: 0.037 mean: -0.14 low: -0.696 |
|
| DuPont ROE | 3.746 % | |
| Return On Invested Capital (ROIC) | 3.119 % | |
| Return On Invested Capital QoQ | 137.006 % | |
| Return On Invested Capital YoY | -100.93 % | |
| Return On Invested Capital IPRWA | LBRDK: 3.119 % high: 3.119 % median: 3.119 % mean: -0.59 % low: -8.699 % |
|