Cable One, Inc. (CABO) 10-Year Financial Performance & Capital Metrics

CABO • • Utilities

Communication ServicesTelecom ServicesCable & Broadband OperatorsRegional Cable Providers

AboutCable One, Inc., together with its subsidiaries, provides data, video, and voice services in the United States. The company offers residential data services, a service to enhance Wi-Fi signal throughout the home. It also provides residential video services, such as local networks; local community programming that includes governmental and public access; and other channels, as well as digital video services, including national and regional cable networks, music channels, and an interactive and electronic programming guide with parental controls. In addition, the company offers premium channels that offer movies, original programming, live sporting events, and concerts and other features; and advanced video services, such as whole-home DVRs and high-definition set-top boxes, as well as TV Everywhere product, which enables its video customers to stream various channels and shows to mobile devices and computers. Further, it provides residential voice services comprising local and long-distance calling, voicemail, call waiting, three-way calling, caller ID, anonymous call rejection, and other features, as well as international calling by the minute services. Additionally, the company offers data, voice, and video products to business customers, including small to mid-markets, enterprises, and wholesale and carrier customers. As of December 31, 2021, it served approximately 1.2 million residential and business customers in 24 states through its Sparklight, Fidelity, and Clearwave brands. Cable One, Inc. was incorporated in 1980 and is headquartered in Phoenix, Arizona.Show more

Revenue $1.58B -5.9%
EBITDA $784M -9.9%
Net Income $14M -93.6%
Free Cash Flow $100M -65.9%
EBITDA Margin 49.61% -4.3%
Net Margin 0.92% -93.2%
ROE 0.8% -93.7%
Interest Coverage 3.20 +3.4%
Debt/Equity 2.00 -0.9%
Net Debt/EBITDA 4.40 +10.3%
CapEx / Revenue 35.73% +61.9%
CapEx Coverage 1.18 -34.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong interest coverage of 3.2x
✓Share count reduced 7.3% through buybacks
✓Trading at only 0.3x book value

✗Weaknesses

✗High debt to equity ratio of 2.0x
✗Profits declining 39.5% over 5 years
✗Weak momentum: RS Rating 12 (bottom 12%)
✗Dividend payout exceeds 100% of earnings
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.84%

5Y6.22%

3Y-0.55%

TTM-4.94%

Profit (Net Income) CAGR

10Y-20.7%

5Y-39.5%

3Y-63.25%

TTM-293.21%

EPS CAGR

10Y-20.4%

5Y-39.23%

3Y-61.64%

TTM-288.32%

ROCE

10Y Avg11.11%

5Y Avg8.85%

3Y Avg7.65%

Latest6.87%

Peer Comparison

Regional Cable Providers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CABOCable One, Inc.	509.98M	90.50	35.08	-5.87%	-29.78%	-31.71%	19.55%	2.00
TVGrupo Televisa, S.A.B.	1.58B	2.97	-0.19	-5.98%	-13.9%	-7.44%	100%	0.97
WOWWideOpenWest, Inc.	445.66M	5.20	-7.22	-8.13%	-13.2%	-52.7%		4.98

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	807.27M	819.63M	960.03M	1.07B	1.17B	1.33B	1.61B	1.71B	1.68B	1.58B
Revenue Growth %	-0.01%	0.02%	0.17%	0.12%	0.09%	0.13%	0.21%	0.06%	-0.02%	-0.06%
Cost of Revenue	310.93M	304.44M	337.04M	370.27M	388.55M	418.7M	455.35M	470.92M	440.92M	416.82M
Gross Profit+	496.34M	515.19M	622.99M	702.03M	779.45M	906.52M	1.15B	1.24B	1.24B	1.16B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.02%	0.04%	0.21%	0.13%	0.11%	0.16%	0.27%	0.07%	0%	-0.06%
Operating Expenses+	334.6M	326.98M	386.42M	419.95M	468.99M	437.18M	693.91M	696.14M	710.26M	720.84M
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	302.38M	336.05M	417.62M	465.64M	527.14M	735.01M	795.6M	889.45M	869.79M	783.63M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.01%	0.11%	0.24%	0.12%	0.13%	0.39%	0.08%	0.12%	-0.02%	-0.1%
Depreciation & Amortization+	140.63M	147.84M	181.62M	197.73M	216.69M	265.66M	339.02M	350.46M	342.89M	341.75M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	161.74M	188.21M	236M	267.91M	310.45M	469.35M	456.57M	538.99M	526.9M	441.88M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.01%	0.16%	0.25%	0.14%	0.16%	0.51%	-0.03%	0.18%	-0.02%	-0.16%
Interest Expense+	16.09M	30.22M	46.86M	60.41M	71.73M	73.61M	113.45M	124.04M	170.15M	138M
Interest Coverage	10.05x	6.23x	5.04x	4.43x	4.33x	6.38x	4.02x	4.35x	3.10x	3.20x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	145.42M	163.11M	189.8M	211.98M	233.81M	380.71M	337.59M	332.71M	411.4M	39.68M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	56.39M	64.17M	-44.23M	47.22M	55.23M	76.32M	45.77M	119.65M	72.84M	25.2M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	89.03M	98.94M	234.03M	164.76M	178.58M	304.39M	291.82M	213.06M	224.62M	14.48M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.4%	0.11%	1.37%	-0.3%	0.08%	0.7%	-0.04%	-0.27%	0.05%	-0.94%
EPS (Diluted)+	15.67	17.14	40.72	28.77	31.12	51.27	45.69	37.08	38.08	2.58
EPS Growth %	-0.38%	0.09%	1.38%	-0.29%	0.08%	0.65%	-0.11%	-0.19%	0.03%	-0.93%
EPS (Basic)	15.69	17.23	41.20	28.98	31.45	51.73	48.49	39.73	40.86	2.58
Diluted Shares Outstanding	5.86M	5.77M	5.75M	5.73M	5.74M	5.94M	6.39M	6.31M	6.06M	5.62M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	1.41B	1.4B	2.22B	2.3B	3.15B	4.49B	6.95B	6.89B	6.76B	6.53B
Asset Growth %	0.12%	-0.01%	0.59%	0.04%	0.37%	0.42%	0.55%	-0.01%	-0.02%	-0.03%
PP&E (Net)+	640.57M	619.62M	831.89M	847.98M	1.22B	1.28B	1.87B	1.71B	1.8B	1.79B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	166.35M	185.94M	242.38M	317.86M	181.49M	672.81M	500.95M	346.7M	342.38M	279.24M
Cash & Equivalents	119.2M	138.04M	161.75M	264.11M	125.27M	574.91M	388.8M	215.15M	190.29M	153.63M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	0	0	0	0	0	0	0	0	0	0
Other Current Assets	0	8.15M	0	0	7.35M	8.66M	14.5M	38.59M	34.55M	28.58M
Long-Term Investments	-276.63M	-276.3M	-205.64M	-242.13M	206K	807.78M	727.57M	1.17B	1.04B	818.17M
Goodwill	85.49M	84.93M	172.13M	172.13M	429.6M	430.54M	967.91M	928.95M	928.95M	929.61M
Intangible Assets	496.77M	497.48M	965.75M	953.85M	1.31B	1.29B	2.87B	2.67B	2.6B	2.53B
Other Assets	19.42M	9.3M	6.18M	11.41M	9.96M	13.26M	19.04M	54.78M	43.16M	176.07M
Total Liabilities	973.25M	942.76M	1.55B	1.53B	2.31B	2.99B	5.16B	5.15B	4.95B	4.73B
Total Debt+	549.05M	537.14M	1.18B	1.16B	1.76B	2.19B	3.85B	3.82B	3.66B	3.6B
Net Debt	429.85M	399.1M	1.01B	898.57M	1.63B	1.61B	3.46B	3.6B	3.47B	3.44B
Long-Term Debt	535.51M	530.89M	1.16B	1.14B	1.71B	2.15B	3.8B	3.75B	3.63B	3.57B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	267K	251K	15.75M	12.47M	14.73M	10.66M	10.16M	7.68M
Total Current Liabilities+	126.83M	111.14M	170.6M	133.71M	189.54M	221.58M	269.07M	244.16M	202.84M	213.87M
Accounts Payable	30.93M	17.08M	21.67M	20.79M	36.35M	22.69M	35.72M	39.55M	45.02M	31.87M
Accrued Expenses	16.15M	18.08M	39.35M	34.01M	41.91M	47.79M	56.03M	51.3M	52.97M	0
Deferred Revenue	22.36M	22.19M	38.27M	18.95M	30.19M	27.35M	26.85M	23.71M	27.17M	27.89M
Other Current Liabilities	53.65M	39.56M	35.19M	26.49M	34.23M	57.11M	61.39M	26.52M	20.15M	86.83M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	310.91M	300.73M	215.36M	251.86M	88.81M	242.3M	222.22M	177.55M	147.72M	11.72M
Total Equity+	435.35M	454.51M	671.42M	775.36M	841.57M	1.5B	1.79B	1.74B	1.81B	1.8B
Equity Growth %	-0.49%	0.04%	0.48%	0.15%	0.09%	0.78%	0.2%	-0.03%	0.04%	-0.01%
Shareholders Equity	435.35M	454.51M	671.42M	775.36M	841.57M	1.5B	1.79B	1.74B	1.81B	1.8B
Minority Interest	0	0	0	0	0	0	0	0	0	0
Common Stock	59K	59K	60K	59K	59K	62K	62K	62K	62K	62K
Additional Paid-in Capital	4.93M	17.67M	28.41M	38.9M	51.2M	535.59M	555.64M	578.15M	607.57M	639.29M
Retained Earnings	447.28M	511.78M	723.35M	850.29M	980.36M	1.23B	1.46B	1.6B	1.76B	1.71B
Accumulated OCI	-557K	-446K	-352K	-96K	-68.16M	-140.68M	-82.8M	50.03M	36.74M	48.1M
Return on Assets (ROA)	0.07%	0.07%	0.13%	0.07%	0.07%	0.08%	0.05%	0.03%	0.03%	0%
Return on Equity (ROE)	0.14%	0.22%	0.42%	0.23%	0.22%	0.26%	0.18%	0.12%	0.13%	0.01%
Debt / Equity	1.26x	1.18x	1.75x	1.50x	2.09x	1.46x	2.15x	2.20x	2.02x	2.00x
Debt / Assets	0.39%	0.38%	0.53%	0.5%	0.56%	0.49%	0.55%	0.55%	0.54%	0.55%
Net Debt / EBITDA	1.42x	1.19x	2.43x	1.93x	3.09x	2.19x	4.35x	4.05x	3.98x	4.40x
Book Value per Share	74.29	78.76	116.83	135.41	146.67	251.84	280.73	275.08	298.44	319.52

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	246.41M	251.83M	324.49M	407.77M	491.74M	574.37M	704.34M	738.04M	663.17M	664.13M
Operating CF Growth %	0.2%	0.02%	0.29%	0.26%	0.21%	0.17%	0.23%	0.05%	-0.1%	0%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	89.03M	98.94M	234.03M	164.76M	178.58M	304.39M	291.82M	234.12M	224.62M	14.48M
Depreciation & Amortization	140.63M	142.18M	181.62M	197.73M	216.69M	265.66M	339.02M	350.46M	342.89M	341.75M
Deferred Taxes	-11.28M	-403K	-86.36M	34.97M	50.01M	87.18M	28.99M	68.38M	-5.39M	-40.42M
Other Non-Cash Items	602K	-455K	4.36M	18.44M	16.04M	-57.03M	33.27M	60.2M	100.64M	294.21M
Working Capital Changes	18.21M	-731K	-19.91M	-18.62M	18.12M	-40.43M	-8.82M	2.37M	-29.02M	22.39M
Capital Expenditures+	-156.14M	-144.4M	-891.17M	-215.76M	-1.13B	-954.91M	-2.47B	-410.74M	-370.45M	-564.45M
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-155.22M	-136.32M	-891.17M	-214.29M	-1.13B	-954.91M	-2.47B	-448.27M	-341.9M	-564.45M
Acquisitions	911K	8.08M	-727.95M	1.47M	-883.44M	-650.42M	-2.16B	-41.16M	56.73M	0
Purchase of Investments	0	0	0	0	0	-612.12M	-95.8M	-50.38M	-29.41M	0
Sale of Investments	0	0	0	0	0	1000K	1000K	1000K	0	0
Other Investing	911K	8.08M	11.98M	1.47M	7.04M	-558K	159.89M	3.63M	1.23M	-278.09M
Cash from Financing+	21.6M	-96.67M	590.39M	-91.11M	503.66M	830.18M	1.58B	-463.43M	-346.13M	-136.34M
Dividends Paid	-458.78M	-34.45M	-37.22M	-42.85M	-48.53M	-56.57M	-63.45M	-66.25M	-66.3M	-67.9M
Dividend Payout Ratio %	5.15%	0.35%	0.16%	0.26%	0.27%	0.19%	0.22%	0.31%	0.3%	3.12%
Debt Issuance (Net)	1000K	-1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K
Stock Issued	0	0	0	0	0	488.75M	8.52M	0	0	0
Share Repurchases	-16.37M	-56.37M	-528K	-26.58M	-5.07M	0	-8.52M	-353.29M	-99.61M	-2.88M
Other Financing	-43.11M	-2.09M	-21.22M	-7.29M	-14.86M	-39.97M	-20.77M	-5.04M	-10.58M	-1.59M
Net Change in Cash+	112.79M	18.84M	23.71M	102.36M	-138.84M	449.64M	-186.11M	-173.65M	-24.86M	-36.66M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	6.41M	119.2M	138.04M	161.75M	264.11M	125.27M	574.91M	388.8M	215.15M	190.29M
Cash at End	119.2M	138.04M	161.75M	264.11M	125.27M	574.91M	388.8M	215.15M	190.29M	153.63M
Free Cash Flow+	90.28M	107.44M	-566.68M	192.01M	-642.5M	-380.54M	-1.77B	327.3M	292.72M	99.68M
FCF Growth %	2.18%	0.19%	-6.27%	1.34%	-4.35%	0.41%	-3.64%	1.19%	-0.11%	-0.66%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	13.82%	22.24%	41.57%	22.78%	22.09%	26.05%	17.75%	12.07%	12.67%	0.8%
EBITDA Margin	37.46%	41%	43.5%	43.42%	45.13%	55.46%	49.54%	52.14%	51.83%	49.61%
Net Debt / EBITDA	1.42x	1.19x	2.43x	1.93x	3.09x	2.19x	4.35x	4.05x	3.98x	4.40x
Interest Coverage	10.05x	6.23x	5.04x	4.43x	4.33x	6.38x	4.02x	4.35x	3.10x	3.20x
CapEx / Revenue	19.34%	17.62%	92.83%	20.12%	97.11%	72.06%	153.91%	24.08%	22.08%	35.73%
Dividend Payout Ratio	515.29%	34.81%	15.9%	26.01%	27.17%	18.59%	21.74%	31.1%	29.52%	312.25%
Debt / Equity	1.26x	1.18x	1.75x	1.50x	2.09x	1.46x	2.15x	2.20x	2.02x	2.00x
EPS Growth	-37.99%	9.38%	137.57%	-29.35%	8.17%	64.75%	-10.88%	-18.84%	2.7%	-93.22%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Product and Service, Other	-	-	-	13.95M	37.55M	40.57M	74.12M	97.9M	99.2M	99.22M
Product and Service, Other Growth	-	-	-	-	169.24%	8.05%	82.71%	32.08%	1.34%	0.01%
Business Services, Other	-	-	-	-	-	-	-	-	-	72.28M
Business Services, Other Growth	-	-	-	-	-	-	-	-	-	-
Fees Imposed by Various Governmental Authorities Passed Through to Customer	-	-	-	-	-	25.21M	31.42M	31.23M	26.86M	24.1M
Fees Imposed by Various Governmental Authorities Passed Through to Customer Growth	-	-	-	-	-	-	24.64%	-0.61%	-13.97%	-10.30%
Data	294.49M	344.18M	414.52M	492.82M	547.24M	669.54M	835.73M	934.56M	979.3M	-
Data Growth	-	16.88%	20.44%	18.89%	11.04%	22.35%	24.82%	11.83%	4.79%	-
Business Services	-	-	-	155.99M	204.5M	234.66M	308.77M	305.29M	304.53M	-
Business Services Growth	-	-	-	-	31.10%	14.75%	31.58%	-1.13%	-0.25%	-
Video	332.72M	294.78M	332.54M	343.34M	335.19M	332.86M	339.71M	325.2M	257.97M	-
Video Growth	-	-11.40%	12.81%	3.25%	-2.37%	-0.70%	2.06%	-4.27%	-20.67%	-
Voice	50.15M	42.95M	43.73M	41.28M	43.52M	47.6M	47.52M	43.1M	37.09M	-
Voice Growth	-	-14.36%	1.83%	-5.61%	5.43%	9.38%	-0.18%	-9.31%	-13.94%	-
Advertising	-	-	-	24.92M	-	-	-	-	-	-
Advertising Growth	-	-	-	-	-	-	-	-	-	-
Commercial	88.74M	100.31M	131.16M	-	-	-	-	-	-	-
Commercial Growth	-	13.04%	30.75%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Cable One, Inc. (CABO) has a price-to-earnings (P/E) ratio of 35.1x. This suggests investors expect higher future growth.

Growth & Financials

Cable One, Inc. (CABO) reported $1.52B in revenue for fiscal year 2024. This represents a 85% increase from $825.7M in 2013.

Cable One, Inc. (CABO) saw revenue decline by 5.9% over the past year.

Cable One, Inc. (CABO) reported a net loss of $454.1M for fiscal year 2024.

Dividend & Returns

Yes, Cable One, Inc. (CABO) pays a dividend with a yield of 8.89%. This makes it attractive for income-focused investors.

Cable One, Inc. (CABO) has a return on equity (ROE) of 0.8%. This is below average, suggesting room for improvement.

Cable One, Inc. (CABO) had negative free cash flow of $393.9M in fiscal year 2024, likely due to heavy capital investments.

Industry Metrics

Cable One, Inc. (CABO) has a dividend payout ratio of 312%. The high payout ratio may limit dividend growth.

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