"We added over 2 million Spectrum Mobile lines in 2024. We're the fastest growing mobile provider in the US with the fastest connectivity at the best price."
— Chris Winfrey
03Detailed Report
CHTR
Company CHTR
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 17, 2026
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Executive Summary
Charter reported solid topline performance in Q4 2024 with revenue up 1.6% year over year, supported by continued mobile growth and pricing/packaging initiatives, even as the end of ACP and hurricane-related disruptions created near-term headwinds. Full-year 2024 results showed revenue up 1% with EBITDA up 3.1%, underscoring the company’s ability to translate mobile and converged connectivity investments into earnings growth. Management emphasized a peak capital expenditure cycle in 2024–2025, followed by a meaningful downshift to a run-rate below $8 billion per year after 2025, which they estimate could unlock roughly $25 of annual free cash flow per share by 2028 given the current share count. The call also highlighted strategic progress in network evolution (DOCSIS 4.0 progress via high-split architecture), the relaunch of Spectrum Life Unlimited branding, and the accelerated rural passings program, with 813,000 subsidized rural passings at year end and a guided 450,000 rural passings growth in 2025. Hurricanes Helene and Milton imposed one-time impacts in Q4 2024 and Q1 2025, including adjusted EBITDA reductions and incremental capex. Collectively, Charter’s narrative remains focused on a virtuous cycle: faster, higher-value connectivity products; better customer service and retention; higher product penetration per household; lower per-customer cost; and a capital allocation strategy that targets free cash flow growth and shareholder returns through buybacks when leverage permits.
Key Performance Indicators
Revenue
Increasing
13.93B
QoQ: 0.95% | YoY: 1.57%
Gross Profit
Increasing
13.93B
1.00% margin
QoQ: 154.12% | YoY: 53.47%
Operating Income
Increasing
3.39B
QoQ: 1.62% | YoY: 3.73%
Net Income
Increasing
1.47B
QoQ: 14.53% | YoY: 38.56%
EPS
Increasing
10.32
QoQ: 14.79% | YoY: 42.74%
Revenue Trend
Margin Analysis
Financial Highlights
- Revenue (Q4 2024): $13.926 billion; YoY +1.57%, QoQ +0.95% (4Q y/y figures provided in the earnings metrics).
- Gross profit: $13.926 billion; gross margin reported as 100% (cost of revenue not disclosed in the filing sample; note this appears to be a data artifact from the provided dataset).
- EBITDA: $5.489 billion; EBITDA margin 39.4% (EBITDARatio 0.3941).
- Operating income: $3.389 billion; operating margin 24.3% (0.2434).
- Net income: $1.466 billion; net income margin 10.5% (0.105).
- EPS (diluted): $10.09; reported EPS: $10.32.
- Free cash flow (Q4 2024): $0.398 billion, derived from Operating Cash Flow $3.46B minus Capex $3.062B (note management commentary cites $0.984B in quarterly FCF in the call, which suggests a reconciliation nuance); cash from operations and capex imply a FCF range around $0.40–0.98B depending on treatment.
- Net debt to adjusted LTM EBITDA: 4.13x (pro forma for Liberty Broadband: 4.24x).
- Debt and liquidity: total debt $95.76B; cash at period-end $0.506B; 2025 cash taxes guidance $1.6–$2.0B.
- Capex guidance: 2025 capex around $12B (line extensions ~$4.2B; network evolution ~$1.5B). Multiyear CapEx plan contemplates a peak in 2025 with run-rate below $8B thereafter; 2028 target suggests substantial free cash flow upside from capital discipline.
- Subscriber dynamics (Q4 2024): Internet down 177k (ACP-related and storm impact), Mobile +529k lines, Video down 123k, Wireline Voice down 274k; Subsidized rural passings 813k at year-end with 41k net adds in Q4; 2025 rural passings guidance ~450k.
- Outlook: 2025 EBITDA growth targeted; ACP wind-down reduces one-time headwinds; Life Unlimited and seamless entertainment launches planned for H1 2025; 2025 capex peak; long-term target leverage 4.0x–4.5x.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
13.93B
1.57%
0.95%
Gross Profit
13.93B
53.47%
154.12%
Operating Income
3.39B
3.73%
1.62%
Net Income
1.47B
38.56%
14.53%
EPS
10.32
42.74%
14.79%
Key Financial Ratios
Gross Profit Margin
Weak
1.00%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Good
24.30%
Operating margin is healthy and competitive within industry standards
Net Profit Margin
Good
10.50%
Net profit margin is healthy and competitive within industry standards
Return on Assets
Weak
0.98%
Return on assets suggests inefficient capital allocation
Return on Equity
Fair
9.41%
Return on equity is acceptable but below top-tier companies
Current Ratio
Concern
0.31
Current ratio below safe levels, potential liquidity risk
Debt to Equity
High Risk
6.03
Debt-to-equity indicates high leverage and elevated financial risk
P/E Ratio
Value
8.36x
P/E ratio suggests potential undervaluation or stable earnings
Price to Book
Premium
3.15x
Trading at premium to book value, reflects strong intangibles or growth
Management Insights Available for Members
Get exclusive access to management commentary, earnings call quotes, and forward guidance from company leadership.
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