The company's financial position appears increasingly vulnerable, evidenced by a debt-to-equity ratio that has climbed to 2.57 as of 2025Q3, reflecting a heavy reliance on external financing to fund network upgrades.
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Total Assets | 21.63B | 21.89B | 21.61B | 19.34B | 17.14B | 18.43B | 19.33B | 24.82B | 25.92B | 30.15B | 27.08B | 18.97B | 16.64B | 17.73B | 17.46B | 17.89B | 6.88B | 6.89B | 7.26B | 6.79B | 6.43B | 6.67B |
| Asset Growth % | 13.75% | 1.3% | 11.74% | 12.88% | -7% | -4.69% | -22.1% | -4.26% | -14.04% | 11.33% | 42.74% | 14.06% | -6.19% | 1.56% | -2.4% | 160.1% | -0.15% | -5.06% | 6.85% | 5.66% | -3.61% | - |
| PP&E (Net) | 17.34B | 15.87B | 14.11B | 12.04B | 9.2B | 13.15B | 13.17B | 14.19B | 14.38B | 14.9B | 8.49B | 8.57B | 7.26B | 7.5B | 7.55B | 7.59B | 3.13B | 3.24B | 3.34B | 2.98B | 3.06B | 3.34B |
| PP&E / Total Assets % | 80.2% | 72.5% | 65.3% | 62.23% | 53.68% | 71.35% | 68.11% | 57.17% | 55.47% | 49.42% | 31.36% | 45.15% | 43.62% | 42.32% | 43.23% | 42.43% | 45.56% | 47.03% | 45.96% | 43.93% | 47.58% | 50.06% |
| Total Current Assets | 963M | 1.26B | 2.78B | 2.6B | 2.69B | 2.56B | 2.93B | 1.33B | 1.32B | 1.66B | 10.13B | 1.49B | 1.62B | 2.09B | 1.27B | 1.13B | 680.08M | 467.96M | 524.15M | 1.27B | 669.74M | 449.58M |
| Cash & Equivalents | 420M | 806M | 1.17B | 322M | 2.14B | 1.89B | 760M | 354M | 376M | 522M | 9.38B | 682.13M | 891.45M | 1.34B | 0 | 0 | 0 | 0 | 226.47M | 1.04B | 263.75M | 167.46M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 13M | 8M | 26M | 12M | 0 | 8M | 1.42B | 121.5M | 10M | 108M | 80M | 129.2M | 179.61M | 144.59M | 264.36M | 208.25M | 0 | 48.82M | 33.49M | 13.77M | 175.16M | 15.05M |
| Long-Term Investments | 515M | 162M | 135M | 0 | 34M | 67M | 58M | 76.5M | 37M | 0 | 0 | 0 | 2M | 27.25M | 144.68M | 187.49M | 0 | 8.04M | 21.19M | 16.47M | 16M | 23.06M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.38B | 7.02B | 9.67B | 7.17B | 7.21B | 6.34B | 6.34B | 6.34B | 6.29B | 2.64B | 2.64B | 2.63B | 1.92B | 1.92B | 1.94B |
| Intangible Assets | 3.02B | 3.26B | 3.58B | 3.91B | 4.23B | 677M | 1.02B | 1.49B | 2.06B | 2.66B | 1.14B | 1.5B | 1.21B | 1.54B | 1.96B | 2.49B | 247.53M | 359.67M | 547.74M | 432.35M | 558.73M | 685.11M |
| Other Assets | 234M | 56M | 78M | 84M | 333M | 348M | 311M | 188.5M | 60M | 119M | 151M | 216.67M | 206.23M | 233.82M | 196.31M | 200.32M | 174.8M | 170.7M | 193.19M | 168.13M | 203.32M | 232.05M |
| Total Liabilities | 16.93B | 16.95B | 16.33B | 14.21B | 12.54B | 23.32B | 23.73B | 23.22B | 23.64B | 25.63B | 21.47B | 15.32B | 12.58B | 13.61B | 12.99B | 12.68B | 6.54B | 6.37B | 6.26B | 5.73B | 5.39B | 5.31B |
| Total Debt | 12.07B | 12.03B | 11.66B | 9.47B | 7.98B | 6.19B | 17.68B | 17.24B | 17.73B | 17.92B | 15.89B | 9.78B | 8.13B | 8.94B | 8.3B | 8.26B | 4.8B | 4.73B | 4.74B | 4.5B | 4.22B | 4.27B |
| Net Debt | 11.65B | 11.23B | 10.5B | 9.15B | 5.84B | 4.3B | 16.92B | 16.89B | 17.36B | 17.4B | 6.51B | 9.1B | 7.24B | 7.6B | 8.3B | 8.26B | 4.8B | 4.73B | 4.51B | 3.46B | 3.96B | 4.11B |
| Long-Term Debt | 12.01B | 11.55B | 11.25B | 9.11B | 7.97B | 0 | 16.31B | 16.36B | 16.97B | 17.56B | 15.51B | 9.49B | 7.87B | 8.38B | 8.21B | 7.98B | 4.79B | 4.72B | 4.74B | 4.46B | 4B | 4.26B |
| Short-Term Borrowings | 60M | 99M | 84M | 75M | 15M | 5.85B | 1.06B | 844M | 697M | 363M | 384M | 297.62M | 257.92M | 560.55M | 94.02M | 280M | 7.24M | 3.86M | 2.45M | 39.27M | 227.69M | 6.38M |
| Capital Lease Obligations | 384M | 384M | 335M | 286M | 0 | 336M | 309M | 39M | 64M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.34M |
| Total Current Liabilities | 3.16B | 2.29B | 2.27B | 2.29B | 1.45B | 7.14B | 2.8B | 2.56B | 2.51B | 2.44B | 1.89B | 1.51B | 1.3B | 1.55B | 1.18B | 1.44B | 392.68M | 382.77M | 445.89M | 425.64M | 641.76M | 417.52M |
| Accounts Payable | 758M | 1.03B | 1.1B | 1.41B | 535M | 540M | 437M | 495M | 564M | 698M | 467M | 379.25M | 464.57M | 338.15M | 519.55M | 436.89M | 139.56M | 141.94M | 179.4M | 153.89M | 140.49M | 170M |
| Accrued Expenses | 156M | 39M | 38M | 39M | 46M | 48M | 43M | 39M | 29M | 23M | 33M | 123.79M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 201M | 214M | 215M | 222M | 224M | 260M | 260M | 305M | 311M | 301M | 160M | 179.06M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 2.1B | 904M | 835M | 549M | 631M | 442M | 1B | 878M | 907M | 1.06B | 849M | 532.35M | 579.1M | 654.82M | 569.65M | 722.47M | 245.88M | 236.98M | 264.04M | 222.59M | 267.8M | 213.69M |
| Deferred Taxes | 3.62B | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Other Liabilities | 1.19B | 826M | 899M | 1.22B | 2.06B | 13.86B | 1.98B | 1.98B | 1.89B | 1.97B | 1.4B | 1.38B | 987.64M | 1.32B | 1.14B | 1.04B | 630.19M | 594.68M | 363.74M | 332.64M | 423.79M | 621.66M |
| Total Equity | 4.7B | 4.94B | 5.28B | 5.13B | 4.6B | -4.9B | -4.39B | 1.6B | 2.27B | 4.52B | 5.61B | 3.66B | 4.06B | 4.12B | 4.47B | 5.21B | 339.07M | 519.04M | 997.9M | 1.06B | 1.04B | 1.36B |
| Equity Growth % | -28.23% | -6.4% | 2.82% | 11.61% | 193.88% | -11.52% | -374.63% | -29.64% | -49.68% | -19.5% | 53.49% | -9.81% | -1.55% | -7.83% | -14.22% | 1436.48% | -34.67% | -47.99% | -5.68% | 1.56% | -23.52% | - |
| Shareholders Equity | 4.7B | 4.94B | 5.28B | 5.13B | 4.6B | -4.9B | -4.39B | 1.6B | 2.27B | 4.52B | 5.61B | 3.66B | 4.06B | 4.11B | 4.46B | 5.2B | 327.61M | 519.04M | 997.9M | 1.06B | 1.04B | 1.36B |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.68M | 14M | 13M | 11.46M | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 3M | 3M | 2M | 2M | 2M | 27M | 27M | 27M | 20M | 298M | 298M | 0 | 257M | 257M | 257M | 257M | 87.36M | 87.36M | 87.36M | 85.99M | 85.99M | 84.91M |
| Additional Paid-in Capital | 4.33B | 4.3B | 4.3B | 4.2B | 4.12B | 4.82B | 4.82B | 4.8B | 5.03B | 5.28B | 6.03B | 3.99B | 4.32B | 4.64B | 4.77B | 5.53B | 956.4M | 1.12B | 1.28B | 1.21B | 1.37B | 1.66B |
| Retained Earnings | 299M | 562M | 884M | 855M | 414M | -8.97B | -8.57B | -2.75B | -2.26B | -460M | -87M | 108.75M | 76.11M | 63.2M | 226.72M | 77.11M | 2.76M | 38.16M | 14M | 134.71M | -85.34M | -287.72M |
| Accumulated OCI | 63M | 77M | 96M | 79M | 60M | -755M | -650M | -463M | -366M | -387M | -353M | -404.33M | -260.53M | -483.58M | -386.96M | -229.55M | -245.52M | -237.15M | -78M | -81.9M | -123.24M | -99.57M |
| Return on Assets (ROA) | -1.78% | -1.48% | 0.14% | 2.42% | 27.87% | -2.13% | -26.78% | -2.53% | -6.43% | -1.3% | -0.85% | 0.75% | 0.64% | 0.76% | - | 1.21% | 1.72% | 2.58% | 3.06% | 5.21% | 3.09% | 1.08% |
| Return on Equity (ROE) | -7.91% | -6.3% | 0.56% | 9.06% | 107.72% | - | - | -33.2% | -53.11% | -7.36% | -4.23% | 3.45% | 2.69% | 3.11% | - | 5.39% | 27.63% | 24.08% | 20.88% | 32.82% | 16.84% | 5.3% |
| Debt / Equity | 2.57x | 2.44x | 2.21x | 1.84x | 1.74x | - | - | 10.78x | 7.80x | 3.97x | 2.83x | 2.67x | 2.01x | 2.17x | 1.86x | 1.59x | 14.16x | 9.10x | 4.75x | 4.25x | 4.05x | 3.14x |
| Debt / Assets | 55.8% | 54.97% | 53.97% | 48.96% | 46.59% | 33.57% | 91.46% | 69.48% | 68.41% | 59.44% | 58.68% | 51.56% | 48.88% | 50.43% | 47.53% | 46.19% | 69.8% | 68.6% | 65.32% | 66.26% | 65.7% | 64.08% |
| Net Debt / EBITDA | 5.48x | 5.68x | 5.50x | 5.16x | 2.48x | 1.68x | - | 6.07x | 24.76x | 5.91x | 3.15x | 4.65x | 3.31x | 3.31x | 5.32x | 7.87x | 8.01x | 3.90x | 3.57x | 3.09x | 3.57x | 3.88x |
| Book Value per Share | 18.77 | 19.91 | 21.25 | 20.93 | 18.77 | -46.9 | -42.22 | 17.84 | 29.25 | 58.23 | 77.64 | 54.86 | 61.2 | 62.3 | 65.16 | 120.04 | 16.4 | 24.46 | 45.03 | 48.9 | 45.74 | 66.09 |
High Leverage Capital Intensity
According to recent balance sheet filings, FYBR's total assets have grown to $21.6 billion as of 2025Q3, yet this expansion is heavily funded by debt, resulting in a deteriorating equity base that signals a weakening financial trajectory as the company aggressively pursues its fiber-optic infrastructure build-out.
The consistent increase in net PPE, which reached $17.3 billion in 2025Q3, confirms the company's commitment to fiber deployment, but the simultaneous decline in retained earnings suggests that this growth is not yet self-funding. Investors should monitor whether the asset base can generate sufficient returns to offset the rising debt burden before the company reaches a critical liquidity inflection point.
Based on reported financial statements, FYBR's debt-to-equity ratio has climbed to 2.57 as of 2025Q3, reflecting a persistent reliance on external financing to sustain its capital-intensive fiber transition, which may limit the company's ability to navigate potential economic volatility or unexpected shifts in the competitive landscape.
The escalation of total debt to $12.1 billion indicates that the company is operating with a high degree of financial leverage, which appears to be a necessity-driven strategy rather than a choice. This leverage profile warrants further investigation into the company's debt maturity schedule and its ability to service interest obligations given the current negative net margin environment.
As reported in quarterly filings, FYBR's current ratio has plummeted from 1.36 in 2023Q3 to a concerning 0.30 in 2025Q3, indicating that the company's cash reserves and short-term assets are increasingly insufficient to cover its immediate liabilities as the fiber build-out consumes available liquidity.
The rapid depletion of cash from $1.3 billion in 2024Q3 to $420 million in 2025Q3 suggests that the company is burning through its liquidity buffer at an unsustainable pace. This trend implies that the company may face heightened refinancing risks or a need for additional capital injections if operational cash flows do not improve rapidly.
Analysis of the balance sheet reveals that net PPE accounts for the vast majority of FYBR's $21.6 billion in total assets, underscoring a highly asset-heavy business model that relies on the long-term utility of its fiber-optic network to eventually drive sustainable, recurring revenue growth.
The concentration of capital in physical infrastructure suggests that the company's value is tied directly to the successful conversion of fiber passings into active subscribers. While this provides a defensive moat, it also exposes the company to significant depreciation charges and maintenance requirements that may continue to suppress reported earnings for the foreseeable future.
Based on an examination of the company's financial disclosures, the persistent growth in net PPE relative to cash flow suggests that significant internal labor and construction costs are being capitalized, which may be masking the true, higher cost of maintaining the company's legacy copper and fiber networks.
Investors should be cautious that the reported asset values may be inflated by these capitalized costs, potentially leading to future impairment risks if the fiber-optic network fails to achieve the projected penetration rates. This accounting treatment warrants further investigation to determine the extent to which current earnings are being artificially supported by the deferral of operational expenses.
Quick answers to the most common questions about buying FYBR stock.
As of 2024, Frontier Communications Parent, Inc. (FYBR) had total assets of $21.89B including $1.26B in current assets.
Frontier Communications Parent, Inc. (FYBR) carries total debt of $12.03B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Frontier Communications Parent, Inc. (FYBR) has total shareholders' equity (book value) of $4.94B ($19.91 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Frontier Communications Parent, Inc. (FYBR) reported a current ratio of 0.55x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.