Recent News
On September 30, 2025 Cable One announced Chief Operating Officer Ken Johnson’s induction into the Cable TV Pioneers Class of 2025, recognizing his contributions to broadband and rural connectivity.
On October 23, 2025 the company scheduled a conference call to discuss third‑quarter 2025 results, with the release and call occurring after market close on November 6, 2025.
Technical Analysis
ADX / DI+ / DI-: ADX sits at 48.45, indicating a very strong trend strength; directional readings show DI+ at 10.04 (dip & reversal) and DI- at 37.45 (peak & reversal). The combination signals that downward directional pressure has peaked and directional strength now favors a bullish tilt versus the recent trend, which supports a price bias consistent with reversion toward fair value.
MACD: MACD reads -11.98 with a dip & reversal pattern while the signal line sits at -11.89. MACD’s negative level conflicts with the early reversal pattern: momentum began to improve, but no bullish MACD cross above the signal line exists yet, so expect momentum to turn constructive only if the MACD completes a crossover.
MRO (Momentum/Regression Oscillator): MRO at -46.46 indicates the price currently trades materially below the model target, implying upward pressure if momentum confirms; the MRO’s dip & reversal trend aligns with a potential rebound toward intrinsic valuation.
RSI: RSI registers 39.11 with a dip & reversal behavior, showing the shares remain on the lower side of the momentum scale but beginning to recover from recent weakness; that supports potential near‑term gains if buying volume increases.
Price vs Moving Averages & Volatility: Last close stands at $113.02, below the 50‑day average ($147.65) and well below the 200‑day average ($179.53), signaling the stock trades significantly below longer‑term trend levels. The 12‑day EMA decreased to $113.23 while the 20‑day average sits at $111.63; price sits between the 1x Bollinger bands (lower $101.25 / upper $122.00), indicating room to mean‑revert toward the 20‑day technical band if momentum strengthens. Volume across recent sessions runs slightly below 10‑ and 200‑day averages, suggesting any reversal will need higher participation to sustain.
Fundamental Analysis
Profitability: EBIT equals $166,535,000 and EBIT margin equals 44.29%. That margin sits above the industry peer mean (18.68%), industry peer median (19.51%), and above the industry peer high (31.65%), reflecting high operating cash conversion and pricing power within its markets. Quarter‑over‑quarter, EBIT margin declined by -133.71% while year‑over‑year it improved by 50.85%.
Earnings and Surprise: Reported EPS came in at $18.89 versus an estimate of $9.25, a $9.64 beat that represents a 104.22% surprise relative to the estimate. The Q3 report filed on November 6, 2025 contains these results and the operational detail tied to the quarter.
Revenue and Cash Flow: Total revenue reached $376,012,000 for the quarter with year‑over‑year revenue growth near 4.77% while quarter‑over‑quarter revenue declined roughly -11.71%. Operating cash flow reached $156,519,000 and free cash flow stands at $85,361,000, producing a free cash flow yield of 9.49% which exceeds the industry peer mean of 0.75% and sits comfortably inside the peer range.
Balance Sheet & Leverage: Net debt totals $3,114,012,000 and the company reduced aggregate debt by $197.9 million during the quarter; interest coverage stood at 5.20x. Debt‑to‑EBITDA measures 13.15x and debt‑to‑equity sits at 229.58%—both above the industry peer mean—reflecting a levered capital structure despite active deleveraging during the period. The company reported $166.6 million in cash and $1.195 billion of committed excess liquidity on its revolver as of September 30, 2025.
Valuation Metrics: Price‑to‑earnings equals 8.45, price‑to‑book equals 0.63 (below the industry peer mean of 1.65), and price‑to‑sales equals 2.39 (below the industry peer mean of 4.99). Enterprise value / revenue equals 10.69 and enterprise multiple equals 16.09. WMDST values the stock as under‑valued based on current cash flows, elevated free‑cash flow yield, and the firm’s deleveraging progress.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-11-06 |
| NEXT REPORT DATE: | 2026-02-05 |
| CASH FLOW | Begin Period Cash Flow | $ 152.9 M |
| Operating Cash Flow | $ 156.5 M | |
| Capital Expenditures | $ -71.16 M | |
| Change In Working Capital | $ 1.8 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 13.8 M | |
| End Period Cash Flow | $ 166.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 376.0 M | |
| Forward Revenue | $ 56.6 M | |
| COSTS | ||
| Cost Of Revenue | $ 96.0 M | |
| Depreciation | $ 83.3 M | |
| Depreciation and Amortization | $ 83.3 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 280.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 280.0 M | |
| EBITDA | $ 249.9 M | |
| EBIT | $ 166.5 M | |
| Operating Income | $ 95.8 M | |
| Interest Income | — | |
| Interest Expense | $ 32.0 M | |
| Net Interest Income | $ -32.02 M | |
| Income Before Tax | $ 134.5 M | |
| Tax Provision | $ 25.8 M | |
| Tax Rate | 19.2 % | |
| Net Income | $ 86.5 M | |
| Net Income From Continuing Operations | $ 86.5 M | |
| EARNINGS | ||
| EPS Estimate | $ 9.25 | |
| EPS Actual | $ 18.89 | |
| EPS Difference | $ 9.64 | |
| EPS Surprise | 104.216 % | |
| Forward EPS | $ 9.25 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 5.7 B | |
| Intangible Assets | $ 2.8 B | |
| Net Tangible Assets | $ -1.41 B | |
| Total Current Assets | $ 300.5 M | |
| Cash and Short-Term Investments | $ 166.6 M | |
| Cash | $ 166.6 M | |
| Net Receivables | $ 46.4 M | |
| Inventory | — | |
| Long-Term Investments | $ 10.4 M | |
| LIABILITIES | ||
| Accounts Payable | $ 34.1 M | |
| Short-Term Debt | $ 593.6 M | |
| Total Current Liabilities | $ 781.2 M | |
| Net Debt | $ 3.1 B | |
| Total Debt | $ 3.3 B | |
| Total Liabilities | $ 4.3 B | |
| EQUITY | ||
| Total Equity | $ 1.4 B | |
| Retained Earnings | $ 1.3 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 254.09 | |
| Shares Outstanding | 5.635 M | |
| Revenue Per-Share | $ 66.73 | |
| VALUATION | Market Capitalization | $ 899.4 M |
| Enterprise Value | $ 4.0 B | |
| Enterprise Multiple | 16.087 | |
| Enterprise Multiple QoQ | -258.674 % | |
| Enterprise Multiple YoY | 85.321 % | |
| Enterprise Multiple IPRWA | high: 112.271 median: 112.271 mean: 89.272 CABO: 16.087 low: -40.383 |
|
| EV/R | 10.691 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.977 | |
| Asset To Liability | 1.336 | |
| Debt To Capital | 0.697 | |
| Debt To Assets | 0.577 | |
| Debt To Assets QoQ | -4.354 % | |
| Debt To Assets YoY | 20225.704 % | |
| Debt To Assets IPRWA | high: 1.154 CABO: 0.577 median: 0.389 mean: 0.384 low: 0.0 |
|
| Debt To Equity | 2.296 | |
| Debt To Equity QoQ | -11.885 % | |
| Debt To Equity YoY | 22743.682 % | |
| Debt To Equity IPRWA | high: 6.623 CABO: 2.296 mean: 1.066 median: 0.902 low: -3.274 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.628 | |
| Price To Book QoQ | -3.603 % | |
| Price To Book YoY | -39.293 % | |
| Price To Book IPRWA | high: 4.646 mean: 1.652 median: 1.21 CABO: 0.628 low: -0.495 |
|
| Price To Earnings (P/E) | 8.449 | |
| Price To Earnings QoQ | -58.81 % | |
| Price To Earnings YoY | -81.546 % | |
| Price To Earnings IPRWA | high: 143.759 mean: 10.944 CABO: 8.449 median: -0.697 low: -14.527 |
|
| PE/G Ratio | 0.059 | |
| Price To Sales (P/S) | 2.392 | |
| Price To Sales QoQ | 4.59 % | |
| Price To Sales YoY | -51.727 % | |
| Price To Sales IPRWA | high: 13.128 mean: 4.999 median: 3.671 CABO: 2.392 low: 0.014 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 17.303 | |
| Forward PE/G | 0.12 | |
| Forward P/S | 15.883 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 100.36 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.066 | |
| Asset Turnover Ratio QoQ | 4.945 % | |
| Asset Turnover Ratio YoY | 12.391 % | |
| Asset Turnover Ratio IPRWA | high: 0.285 mean: 0.079 CABO: 0.066 low: 0.062 median: 0.062 |
|
| Receivables Turnover | 8.099 | |
| Receivables Turnover Ratio QoQ | -10.497 % | |
| Receivables Turnover Ratio YoY | -1.541 % | |
| Receivables Turnover Ratio IPRWA | CABO: 8.099 high: 3.826 median: 2.5 mean: 2.41 low: 0.786 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 11.267 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -17.29 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | -57.914 % | |
| Cash Conversion Cycle Days IPRWA | high: 145.779 CABO: -17.29 mean: -64.78 median: -84.026 low: -103.513 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -0.782 | |
| CapEx To Revenue | -0.189 | |
| CapEx To Depreciation | -0.854 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 4.1 B | |
| Net Invested Capital | $ 4.7 B | |
| Invested Capital | $ 4.7 B | |
| Net Tangible Assets | $ -1.41 B | |
| Net Working Capital | $ -480.64 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.213 | |
| Current Ratio | 0.385 | |
| Current Ratio QoQ | 4.004 % | |
| Current Ratio YoY | -58.691 % | |
| Current Ratio IPRWA | high: 3.238 median: 2.306 mean: 2.054 CABO: 0.385 low: 0.375 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 13.155 | |
| Cost Of Debt | 0.764 % | |
| Interest Coverage Ratio | 5.201 | |
| Interest Coverage Ratio QoQ | -135.22 % | |
| Interest Coverage Ratio YoY | 53.984 % | |
| Interest Coverage Ratio IPRWA | high: 19.755 CABO: 5.201 mean: 2.334 median: 1.624 low: -20.773 |
|
| Operating Cash Flow Ratio | 0.223 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 28.556 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -1.372 % | |
| Revenue Growth | -1.328 % | |
| Revenue Growth QoQ | -1170.968 % | |
| Revenue Growth YoY | 477.391 % | |
| Revenue Growth IPRWA | high: 13.721 % mean: 0.158 % median: -0.694 % CABO: -1.328 % low: -11.615 % |
|
| Earnings Growth | 144.373 % | |
| Earnings Growth QoQ | -474.479 % | |
| Earnings Growth YoY | -964.354 % | |
| Earnings Growth IPRWA | CABO: 144.373 % high: 78.333 % median: -10.4 % mean: -18.889 % low: -389.655 % |
|
| MARGINS | ||
| Gross Margin | 74.459 % | |
| Gross Margin QoQ | 1.803 % | |
| Gross Margin YoY | 1.414 % | |
| Gross Margin IPRWA | CABO: 74.459 % high: 73.216 % mean: 41.753 % median: 36.701 % low: 35.137 % |
|
| EBIT Margin | 44.29 % | |
| EBIT Margin QoQ | -133.709 % | |
| EBIT Margin YoY | 50.846 % | |
| EBIT Margin IPRWA | CABO: 44.29 % high: 31.647 % median: 19.506 % mean: 18.677 % low: -40.514 % |
|
| Return On Sales (ROS) | 25.476 % | |
| Return On Sales QoQ | -3.5 % | |
| Return On Sales YoY | -13.232 % | |
| Return On Sales IPRWA | high: 31.905 % CABO: 25.476 % mean: 9.543 % median: 6.649 % low: -40.514 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 85.4 M | |
| Free Cash Flow Yield | 9.491 % | |
| Free Cash Flow Yield QoQ | 17.057 % | |
| Free Cash Flow Yield YoY | 83.083 % | |
| Free Cash Flow Yield IPRWA | high: 12.971 % CABO: 9.491 % mean: 0.745 % median: 0.145 % low: -16.117 % |
|
| Free Cash Growth | 20.812 % | |
| Free Cash Growth QoQ | -53.404 % | |
| Free Cash Growth YoY | -9.411 % | |
| Free Cash Growth IPRWA | high: 149.051 % CABO: 20.812 % median: 9.84 % mean: -21.772 % low: -386.692 % |
|
| Free Cash To Net Income | 0.986 | |
| Cash Flow Margin | 46.27 % | |
| Cash Flow To Earnings | 2.011 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.01 | |
| Return On Assets (ROA) | 1.509 % | |
| Return On Assets QoQ | -121.011 % | |
| Return On Assets YoY | 130.03 % | |
| Return On Assets IPRWA | high: 5.511 % CABO: 1.509 % mean: -0.285 % median: -0.817 % low: -5.215 % |
|
| Return On Capital Employed (ROCE) | 3.39 % | |
| Return On Equity (ROE) | 0.06 | |
| Return On Equity QoQ | -118.456 % | |
| Return On Equity YoY | 157.63 % | |
| Return On Equity IPRWA | high: 0.074 CABO: 0.06 mean: -0.005 median: -0.019 low: -0.202 |
|
| DuPont ROE | 6.25 % | |
| Return On Invested Capital (ROIC) | 2.855 % | |
| Return On Invested Capital QoQ | -135.195 % | |
| Return On Invested Capital YoY | -106.375 % | |
| Return On Invested Capital IPRWA | high: 7.43 % CABO: 2.855 % mean: 1.33 % median: 1.058 % low: -5.54 % |
|