XVARY Composite Score
24
/ 100
Weak
Combines growth, value, risk, and momentum factors into a single institutional-grade score.
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What it is
Sparklight® broadband and related services for 1M+ customers in 24 states — company description, Feb 26, 2026 release.
How it gets paid
Last year Cable One made $1.50B in revenue. Residential data was the main engine at $902M, or 60% of sales.
Why it's growing
Revenue grew 4.9% last year. Residential data ~ $219.6M; residential video ~ $43.1M; business data ~ $56.8M.
What just happened
Q4 2025 revenues ~$363.7M; diluted EPS $ vs $ Q4 2024.
At a Glance
C++ balance sheet — some cracks in the foundation
5/100 earnings predictability — expect surprises
FY2025 GAAP loss — trailing P/E not meaningful; use Adjusted EBITDA and cash generation, not headline EPS alone
~ $3.21B debt vs small equity cap — leverage dominates the story (release balance sheet)
XVARY composite: 24/100 — weak
What They Do
Sparklight® broadband and related services for 1M+ customers in 24 states — company description, Feb 26, 2026 release.
Last-mile cable and fiber is hard to replicate; churn and ARPU drive the model as video shrinks. Speed mix, geographic concentration, and mobile (e.g., Sparklight Mobile) — verify operating metrics and penetration in the 10-K and earnings call, not from stale snapshot placeholders.
How They Make Money
$1.50B
FY2025 revenue · −4.9% vs. prior year (segment table, Feb 26, 2026 EX-99.1)
Residential data
$902M
−2.6% vs. prior year
Business data
$229M
+0.3% vs. prior year
Residential video
$187M
−15.7% vs. prior year
Other
$94M
−5.6% vs. prior year
Business other
$63M
−12.7% vs. prior year
Residential voice
$27M
−15.9% vs. prior year
The Products That Matter
Residential and business internet
Broadband Services
~$1.50B FY2025 revenue · ~60% residential data
The equity story lives or dies on broadband subscribers, ARPU, and churn while legacy video shrinks. FY2025 GAAP earnings are distorted by impairments — pair segment revenue with Adjusted EBITDA ~$802M and debt paydown when you judge cash economics.
100% of revenue
Key Numbers
$802M
FY2025 Adj. EBITDA
Company-reported ~$801.7M; margin 53.4% — non-GAAP; see reconciliation in EX-99.1.
$3.21B
debt (Dec 31, 2025)
Down from ~$3.62B prior year; ~$403M principal paydowns in 2025. Heavy vs ~ $575M mcap on this page.
−13.8%
GAAP operating margin FY2025
Loss from operations after large operating expenses including asset impairments — Q4 alone had positive operating income ~ $91.6M on ~ $363.7M revenue.
$(63)
FY2025 GAAP EPS
Diluted $(63.21) — not comparable to “cheap” P/E; impairment-driven. Q4 diluted $(1.35) vs $(18.71) prior-year quarter.
Financial Health
C++
Strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 4 — safer than 20% of stocks
- price stability 20 / 100
- long-term debt ~$3.21B at Dec 31, 2025 (release)
- net profit margin ~−23.7% FY2025 GAAP — net loss ~$356.5M on ~$1.50B revenue
- return on equity Not asserted — loss year; pull from 10-K if screening ROE
C++ — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total Return vs. Market
source: n/a — verify total return with your broker or index provider
What Just Happened
GAAP loss · EBITDA still large
Q4 2025 revenues ~$363.7M (−6.1% vs. prior year); diluted EPS $(1.35) vs $(18.71) Q4 2024.
Residential data ~ $219.6M (−4.2% vs. prior year); residential video ~ $43.1M (−15.2%); business data ~ $56.8M (−1.3%). Adjusted EBITDA ~ $193.9M (margin 53.3% ). Operating cash flow ~ $145.5M; capex ~ $74.0M. FY2025 net loss ~ $356.5M; impairments (goodwill / indefinite-lived franchise agreements) ~ $456.2M net of tax per release.
$516M
Adj. EBITDA − capex FY25
$403M
debt paydown FY25
$152.8M
cash (12/31/25)
the number that mattered
Whether ~$802M FY2025 Adjusted EBITDA and ~$517M EBITDA-less-capex can hold while the company funds MBI put / integration and keeps deleveraging — forward risks are in the release’s cautionary statement and pending 2025 10-K.
-
Feb 26, 2026: Cable One filed Q4/FY2025 results (Business Wire / SEC EX-99.1).
-
FY2025 revenue ~$1.50B (−4.9%); net loss ~$356.5M vs net income ~$14.5M in 2024 — primarily non-cash impairment charges.
-
Debt ~$3.21B at Dec 31, 2025; ~$403.4M principal paydowns in 2025; $1.25B revolver undrawn at year-end.
-
Management cited better Q4 subscriber trajectory vs earlier 2025 (connects / disconnects); CFO quote in release.
-
Forward-looking risks include MBI put option exercised Jan 2, 2026 and funding the purchase price — see release “Cautionary Statement.”
source: Cable One, Inc. Form 8-K EX-99.1 (Feb 26, 2026) · ir.cableone.net
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What Could Go Wrong
The main risk is ~$3.2B debt on a small equity cap while FY2025 revenue fell 4.9% and GAAP earnings are deep red after impairments. Deleveraging helps, but MBI and integration can pull the other way.
Med
Debt and refinancing pressure
Reported debt ~$3.21B at year-end 2025 after ~$403M paydowns — still very large versus ~ $575M market cap on this snapshot.
If Adjusted EBITDA slips or integration costs spike, covenant and refinancing optics can move faster than the operating narrative.
Med
Revenue erosion in a one-segment company
Residential data is the majority of revenue but contracted 2.6% in FY2025; video is structurally shrinking ( −15.7% ).
Without broadband stabilization, even strong EBITDA can erode as the mix shifts and competitive intensity rises.
Med
Messy earnings and weak stock behavior
Earnings predictability is 5/100 and price stability is 20/100. In human-speak: this name does not reward complacency.
When a debt-heavy company is hard to model and the stock already swings this much, disappointing quarters usually get punished harder.
With ~$3.2B debt, a GAAP loss year, and a ~$1.50B revenue base that shrank in 2025, CABO is a leverage + broadband execution story — read the 10-K and MBI funding path alongside headline multiples.
Source: institutional data · regulatory filings · risk analysis
Pay Attention To
Metric
The $1.5B revenue base
If revenue keeps falling from here, the entire cheap-stock argument gets weaker. That is the number that matters most.
Risk
Debt path after ~$403M paydown
Track gross debt, liquidity, and revolver usage quarter to quarter — year-end 2025 had the $1.25B revolver undrawn.
Earnings
Next quarterly revenue print
Q4 revenue was down 6.1% vs. prior year — compare the next print to management’s Q4 vs Q3 subscriber commentary.
Filing
2025 Form 10-K
Impairments, MBI, and segment detail will be cleaner in the annual filing than in this one-page snapshot.
Analyst Rankings
short-term outlook
bottom 5%
Momentum score 5. In human-speak, analysts think this will lag almost everything else over the next year.
risk profile
below average
Stability score 4. This stock has been more volatile than most, which is uncomfortable when the balance sheet already looks stretched.
chart momentum
below average
Technical score 4. The tape is not arguing with the bear case.
earnings predictability
5 / 100
The earnings line is hard to forecast. If you own this, expect messier quarters than the average stock gives you.
Source: institutional data
Institutional Activity
Institutional ownership flows for CABO are not verified on this page.
Source: institutional data
Price Targets
3-5 year target range
$100
Current price
Target midpoint · from current
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