Cable One (CABO)
Market Price (9/26/2026): $14.55 | Market Cap: $82.9 MilSector: Communication Services | Industry: Integrated Telecommunication Services
Cable One (CABO)
Market Price (9/26/2026): $14.55Market Cap: $82.9 MilSector: Communication ServicesIndustry: Integrated Telecommunication Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 25% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -84% Attractive yieldFCF Yield is 297% Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity. Themes include Telecom Infrastructure, and Wireless Services. | Weak multi-year price returns2Y Excs Rtn is -131%, 3Y Excs Rtn is -174% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 3458% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -6.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.3%, Rev Chg QQuarterly Revenue Change % is -8.4% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1262% Key risksCABO key risks include [1] legal and reputational fallout from ongoing securities fraud investigations, Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 25% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -84% |
| Attractive yieldFCF Yield is 297% |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity. Themes include Telecom Infrastructure, and Wireless Services. |
| Weak multi-year price returns2Y Excs Rtn is -131%, 3Y Excs Rtn is -174% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 17% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 3458% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -6.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.3%, Rev Chg QQuarterly Revenue Change % is -8.4% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1262% |
| Key risksCABO key risks include [1] legal and reputational fallout from ongoing securities fraud investigations, Show more. |
Qualitative Assessment
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Cable One (CABO) stock has lost about 70% since 5/31/2026 because of the following key factors:
1. Deteriorating Fiscal Q2 2026 Financial Performance and Substantial Net Loss.
Cable One reported significantly weaker financial results for fiscal Q2 2026 (ended June 30, 2026), which included a sharp decline in revenues and a massive net loss. Total revenues decreased to $348.9 million, an 8.4% drop from $381.1 million in fiscal Q2 2025. This was driven by a 7.3% year-over-year decrease in residential data revenues, totaling $16.7 million, primarily due to subscriber losses, and a 20.1% decline in residential video revenues. The company also reported a staggering net loss of $1.16 billion for the quarter, compared to a net loss of $438.0 million in the prior year, an increase of 165.9%. This substantial loss was largely impacted by significant non-cash impairment charges related to franchise agreements, goodwill, and an investment in MBI.
2. Intensifying Competition Leading to Subscriber Losses and Market Share Erosion.
Cable One's business prospects have deteriorated due to aggressive competition, particularly from fiber-to-the-home and fixed wireless access (FWA) providers. In fiscal Q2 2026, the company experienced a loss of 17,000 residential broadband customers, primarily attributed to elevated churn in markets with increasing fiber overbuild activity. S&P Global Ratings noted on September 25, 2026, that rising competitive overlap is eroding profitability and debt metrics, with fiber overlap surpassing 60%. Competitors offering FWA plans around $50 per month threaten Cable One's higher average revenue per user (ARPU) of approximately $80, leaving its subscriber base vulnerable. S&P projects Cable One's residential broadband penetration to decline to roughly 28% by 2028, down from 33.5% in 2025.
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Cable One (CABO) stock has lost about 70% since 5/31/2026 because of the following key factors:
1. Deteriorating Fiscal Q2 2026 Financial Performance and Substantial Net Loss.
Cable One reported significantly weaker financial results for fiscal Q2 2026 (ended June 30, 2026), which included a sharp decline in revenues and a massive net loss. Total revenues decreased to $348.9 million, an 8.4% drop from $381.1 million in fiscal Q2 2025. This was driven by a 7.3% year-over-year decrease in residential data revenues, totaling $16.7 million, primarily due to subscriber losses, and a 20.1% decline in residential video revenues. The company also reported a staggering net loss of $1.16 billion for the quarter, compared to a net loss of $438.0 million in the prior year, an increase of 165.9%. This substantial loss was largely impacted by significant non-cash impairment charges related to franchise agreements, goodwill, and an investment in MBI.
2. Intensifying Competition Leading to Subscriber Losses and Market Share Erosion.
Cable One's business prospects have deteriorated due to aggressive competition, particularly from fiber-to-the-home and fixed wireless access (FWA) providers. In fiscal Q2 2026, the company experienced a loss of 17,000 residential broadband customers, primarily attributed to elevated churn in markets with increasing fiber overbuild activity. S&P Global Ratings noted on September 25, 2026, that rising competitive overlap is eroding profitability and debt metrics, with fiber overlap surpassing 60%. Competitors offering FWA plans around $50 per month threaten Cable One's higher average revenue per user (ARPU) of approximately $80, leaving its subscriber base vulnerable. S&P projects Cable One's residential broadband penetration to decline to roughly 28% by 2028, down from 33.5% in 2025.
3. Credit Rating Downgrade and Increased Leverage Concerns.
S&P Global Ratings downgraded Cable One's issuer credit rating on September 25, 2026, from 'BB-' to 'B+', citing weakening business prospects. The agency also maintained a CreditWatch with negative implications, indicating a probable further one-notch downgrade to 'B' once the pending acquisition of Mega Broadband Communications Investments (MBI) closes, which is expected around October 1, 2026. This acquisition is anticipated to increase consolidated leverage into the low-5x range. S&P forecasts full-year 2026 earnings contractions of 10% to 11% for Cable One and 15% to 16% for MBI, following steep second-quarter EBITDA declines for both entities. Additionally, on September 17 and 18, 2026, Cable One drew $700 million from its $1.25 billion revolving credit facility to enhance cash on hand and maintain financial flexibility, ahead of the facility's February 2028 maturity.
4. Negative Analyst Sentiment and Significant Price Target Reductions.
Following the release of disappointing financial results and the competitive pressures, analysts significantly revised their outlook and price targets for Cable One. For instance, on August 7, 2026, TD Cowen cut its price target from $111 to $86. Earlier, on May 1, 2026, TD Cowen had already reduced its target from $142 to $111, and Wells Fargo lowered its target from $90 to $70. The average one-year price target was also revised downward by 34.76% to $151.98 per share from $232.97 on May 14, 2026. More recently, analysts lowered their price target to $51 from $69.75 around September 3, 2026. The consensus analyst rating for CABO has shifted to "Hold" or "Reduce".
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Stock Movement Drivers
Fundamental Drivers
The -72.1% change in CABO stock from 5/31/2026 to 9/25/2026 was primarily driven by a -71.4% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.55 | 14.65 | -72.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,474 | 1,442 | -2.2% |
| P/S Multiple | 0.2 | 0.1 | -71.4% |
| Shares Outstanding (Mil) | 6 | 6 | -0.2% |
| Cumulative Contribution | -72.1% |
Market Drivers
5/31/2026 to 9/25/2026| Return | Correlation | |
|---|---|---|
| CABO | -72.1% | |
| Market (SPY) | 2.2% | 4.1% |
| Sector (XLC) | -2.1% | 34.4% |
Fundamental Drivers
The -84.7% change in CABO stock from 2/28/2026 to 9/25/2026 was primarily driven by a -83.9% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 95.95 | 14.65 | -84.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,501 | 1,442 | -4.0% |
| P/S Multiple | 0.4 | 0.1 | -83.9% |
| Shares Outstanding (Mil) | 6 | 6 | -0.9% |
| Cumulative Contribution | -84.7% |
Market Drivers
2/28/2026 to 9/25/2026| Return | Correlation | |
|---|---|---|
| CABO | -84.7% | |
| Market (SPY) | 13.0% | 2.4% |
| Sector (XLC) | -3.8% | 29.2% |
Fundamental Drivers
The -90.9% change in CABO stock from 8/31/2025 to 9/25/2026 was primarily driven by a -90.2% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 161.48 | 14.65 | -90.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,542 | 1,442 | -6.5% |
| P/S Multiple | 0.6 | 0.1 | -90.2% |
| Shares Outstanding (Mil) | 6 | 6 | -1.1% |
| Cumulative Contribution | -90.9% |
Market Drivers
8/31/2025 to 9/25/2026| Return | Correlation | |
|---|---|---|
| CABO | -90.9% | |
| Market (SPY) | 20.9% | 7.0% |
| Sector (XLC) | 2.7% | 29.2% |
Fundamental Drivers
The -97.6% change in CABO stock from 8/31/2023 to 9/25/2026 was primarily driven by a -97.2% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 621.68 | 14.65 | -97.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,696 | 1,442 | -15.0% |
| P/S Multiple | 2.1 | 0.1 | -97.2% |
| Shares Outstanding (Mil) | 6 | 6 | -0.7% |
| Cumulative Contribution | -97.6% |
Market Drivers
8/31/2023 to 9/25/2026| Return | Correlation | |
|---|---|---|
| CABO | -97.6% | |
| Market (SPY) | 77.8% | 12.1% |
| Sector (XLC) | 72.5% | 23.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CABO Return | -20% | -59% | -20% | -33% | -69% | -86% | -99% |
| Peers Return | 4% | -29% | -4% | 45% | 3% | -12% | -8% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| CABO Win Rate | 33% | 33% | 50% | 17% | 33% | 33% | |
| Peers Win Rate | 52% | 37% | 55% | 55% | 55% | 42% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| CABO Max Drawdown | -27% | -65% | -38% | -44% | -73% | -87% | |
| Peers Max Drawdown | -24% | -44% | -35% | -25% | -33% | -36% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CHTR, CMCSA, LUMN, VZ, T. See CABO Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/25/2026 (YTD)
How Low Can It Go
| Event | CABO | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -35.7% | -33.7% |
| % Gain to Breakeven | 55.5% | 50.9% |
| Time to Breakeven | 37 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -11.5% | -19.2% |
| % Gain to Breakeven | 12.9% | 23.8% |
| Time to Breakeven | 38 days | 105 days |
In The Past
Cable One's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
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Asset Allocation
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| Event | CABO | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -35.7% | -33.7% |
| % Gain to Breakeven | 55.5% | 50.9% |
| Time to Breakeven | 37 days | 140 days |
In The Past
Cable One's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Cable One (CABO)
Cable One, Inc. (CABO) is a telecommunications company that provides a comprehensive suite of data, video, and voice services across 24 states in the United States. Operating primarily under its Sparklight, Fidelity, and Clearwave brands, the company serves a broad customer base, reaching approximately 1.2 million residential and business customers as of December 2021. Essentially, Cable One acts as an internet service provider, cable TV provider, and phone service provider, bundling these offerings to its clientele.
For its residential customers, Cable One's main products include high-speed internet data services, often enhanced with Wi-Fi signal solutions. Its video services are extensive, ranging from local and national cable channels and community programming to digital video services that offer features like DVRs, high-definition boxes, premium movie channels, and TV Everywhere streaming for mobile devices. The company also offers residential voice services, providing local and long-distance calling, voicemail, caller ID, and various other calling features, including international options.
Beyond residential offerings, Cable One significantly caters to business customers. It provides tailored data, voice, and video products designed to meet the needs of various business segments. This includes small to mid-market businesses, larger enterprises, and even wholesale and carrier customers, demonstrating a diversified approach to its commercial market segments.
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A smaller, regional version of Comcast or Charter Communications.
Similar to a regional internet and cable TV provider like Xfinity (Comcast) or Spectrum (Charter).
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- Residential Data Services: Provides high-speed internet and Wi-Fi enhancement services for homes.
- Residential Video Services: Offers a variety of television programming, including local, digital, premium channels, and advanced features like DVR and streaming.
- Residential Voice Services: Delivers landline telephone services with features like local, long-distance, and international calling options.
- Business Services: Provides data, voice, and video solutions tailored for small to mid-market businesses, enterprises, and wholesale/carrier customers.
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Cable One (CABO) serves a broad customer base rather than a few major corporate customers. The company primarily sells its services to:
- Residential Customers: Individuals and households who subscribe to data (internet), video (cable television), and voice (phone) services for personal use.
- Business Customers: A diverse group of organizations, including small to mid-market businesses, enterprises, and wholesale and carrier customers, that utilize Cable One's data, voice, and video products for their operational needs.
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James A. Holanda, Chief Executive Officer
James A. Holanda is the Chief Executive Officer of Cable One, effective no later than March 31, 2026. He brings over 35 years of experience in the cable and broadband industry. Prior to joining Cable One, Holanda served as Chief Executive Officer of Astound Broadband from 2011 to 2025, a company that has been backed by private equity firms. He was also Chief Executive Officer of Choice Cable TV of Puerto Rico and President of Patriot Media of Central New Jersey. Patriot Media was acquired by Comcast in 2005. His career began at Comcast and then Charter Communications, where he held various accounting, finance, business, and operations roles.
Todd M. Koetje, Chief Financial Officer
Todd M. Koetje has served as Cable One's Chief Financial Officer since July 1, 2022. He is also serving as Interim Chief Executive Officer from January 1, 2026, until James Holanda's start date. Koetje possesses over 20 years of experience in capital markets, the telecom industry, and financial leadership. Before his tenure at Cable One, he was the Managing Director & Group Head of the Technology, Media & Telecommunications Leveraged Finance team at Truist Securities.
Kenneth E. Johnson, Chief Operating Officer
Kenneth E. Johnson is the Chief Operating Officer for Cable One. In this capacity, he is responsible for overseeing Residential and Business Services, Technology Services, Field and Call Center Operations, Digital Evolution, and Integration. He also ensures the execution of the company's long-term business goals and the operationalization of strategy across Cable One's brands.
Megan M. Detz, Chief People Officer
Megan M. Detz holds the position of Chief People Officer for Cable One.
Christopher J. Arntzen, Senior Vice President, General Counsel and Secretary
Christopher J. Arntzen serves as Cable One's Senior Vice President, General Counsel, and Secretary.
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The key risks to Cable One's business are primarily driven by intense competition, resulting in subscriber losses and declining revenue, compounded by its high leverage.
- Intense Competition and Subscriber Losses: Cable One faces significant competition, primarily from fiber overbuilders and Fixed Wireless Access (FWA) providers, even in its secondary and tertiary markets. This competition has led to substantial residential data subscriber losses and is a major headwind for the company. For example, residential data customers declined by 13,000 in Q2 2025 and an additional 21,600 in Q3 2025, pushing total customers down 3.2% by mid-year. In Q4 2025, residential broadband customers declined by approximately 10,700. Management has described the competitive environment as "fierce" and anticipates ongoing subscriber losses. The company's footprint has seen significant overbuilding by wired competitors offering high-speed data services, with close to 60% of its footprint overbuilt as of December 31, 2025.
- High Leverage and Financial Health Concerns: Cable One operates with a significant amount of debt, with total debt standing at approximately $3.50 billion as of June 30, 2025. Its financial strength has been rated as poor, with a Z-Score indicating distress and a high debt-to-equity ratio of 2.3. S&P Global Ratings downgraded Cable One's ratings due to weak operating performance and elevated leverage. This high leverage, especially when combined with declining earnings, can lead to disastrous equity returns.
- Declining Revenue and Profitability: The company has experienced declining revenue, particularly in its residential video segment due to cord-cutting, and more recently, in its core residential data segment. Total revenue for Q3 2025 declined by 4.5% year-over-year, and Q4 2025 saw a 6.1% year-over-year decrease in total revenue. This decline is driven by subscriber churn, and while Average Revenue Per Unit (ARPU) has sometimes increased for remaining customers, the overall subscriber losses are a significant concern. To combat subscriber losses, Cable One may need to lower prices or offer aggressive promotions, which can further impact ARPU and profitability.
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- Fixed Wireless Access (FWA) Home Internet: Wireless carriers such as T-Mobile and Verizon are aggressively expanding their 5G-based home internet services. These services offer a compelling alternative to traditional wired broadband, often with simpler setup and competitive pricing, directly threatening Cable One's core residential data services.
- Accelerated Fiber-to-the-Home (FTTH) Expansion: New and incumbent telecommunication companies, as well as municipal and regional providers, are rapidly expanding fiber optic networks. These networks offer symmetrical multi-gigabit speeds and enhanced reliability, directly competing with Cable One's internet service offerings and potentially drawing away high-value customers.
- Virtual Multichannel Video Programming Distributors (vMVPDs) and Accelerating Cord-Cutting: While streaming services have been present for some time, the continued acceleration of consumers canceling traditional cable TV subscriptions (cord-cutting) and migrating to internet-delivered live TV bundles (vMVPDs like YouTube TV, Hulu + Live TV, and Sling TV) poses an ongoing and intensifying threat to Cable One's residential video services.
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For Cable One (CABO), the addressable markets for its main products and services in the United States are as follows:
- Residential Data Services (Broadband Internet): The United States residential fixed broadband market had approximately 120.6 million subscriptions at the end of 2024.
- Residential Video Services (Cable TV and Streaming): The U.S. Television Services market was valued at approximately $117.68 billion in 2024, with projections to reach around $186.90 billion by 2034. Additionally, the U.S. video streaming market size is estimated at $102.9 billion in 2026.
- Residential Voice Services (VoIP): The U.S. residential VoIP services market was valued at approximately $46.57 billion in 2024. This market is projected to grow from $22.11 billion in 2024 to $54.36 billion by 2032.
- Business Data, Voice, and Video Products: The overall U.S. telecom services market, which encompasses business data, voice, and video offerings, was sized at $451.7 billion in 2025 and is projected to grow to $601.2 billion by 2030. Business customers also account for a significant portion of the VoIP market, representing 78.7% of total adoption.
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Cable One, Inc. (CABO) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives focusing on expanding its high-margin data services and customer base, as well as introducing new offerings.
Here are 3-5 expected drivers of future revenue growth:
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Expansion of Business Services through a Partner Solutions Program: Cable One, through its Sparklight Business brand, launched a Partner Solutions Program in December 2025. This initiative aims to broaden its market reach by collaborating with technology brokerages and advisor partners. The program is designed to create new revenue streams by offering advanced connectivity, voice, and managed services to a wider business customer base across its existing 24-state fiber network.
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Strategic Fiber Network Expansion and Acquisitions: Cable One is actively pursuing fiber growth through both organic expansion and acquisitions. This includes combining its Clearwave Fiber joint venture with Point Broadband, aiming to establish one of the largest independent fiber operators in the U.S. with over 500,000 passings across 12 states. Additionally, the company is set to acquire full ownership of Mega Broadband Investment Holdings (MBI), which operates under the Vyve Broadband brand, primarily serving rural markets across 16 states with approximately 675,000 passings. This acquisition is anticipated to close in Q4 2026. These moves demonstrate a clear focus on expanding its fiber footprint and customer base in strategic markets.
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Launch of Mobile Service: Cable One has initiated a mobile pilot program in six markets, with plans for a broader rollout expected in late Q1 2026. This new service offering is intended to enhance customer relationships and increase Average Revenue Per User (ARPU) by providing an additional product to its customer base.
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Focus on Residential Broadband Customer and Revenue Growth: Despite recent residential broadband subscriber losses, Cable One's long-term objective is to achieve residential broadband customer and revenue growth. The company is concentrating on growing its residential data customer base and associated revenues, supplemented by the growth of related services such as intelligent Wi-Fi, technology support, and network security solutions. Management has expressed confidence in its strategy to drive residential broadband revenue growth, and new residential plans have been introduced to cater to diverse customer needs.
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Strategic Pricing and ARPU Enhancement: To counter subscriber declines and drive revenue, Cable One plans to implement strategic price increases and leverage Average Revenue Per User (ARPU) growth. The company increased Sparklight high-speed internet rates by $5 per month effective July 1, 2024. This strategy aims to increase revenue from existing customers, particularly those who opt for higher-tier services, as growing ARPU becomes crucial in a challenging subscriber growth environment.
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Share Repurchases
- Cable One had $143.1 million of remaining share repurchase authorization as of December 31, 2025.
- The company did not repurchase any shares under its Share Repurchase Program in 2025 or 2024.
- Between May 2022 and October 2025, the company completed the repurchase of 328,894 shares for $306.73 million under a buyback announced on May 23, 2022.
Outbound Investments
- In January 2026, Cable One announced a definitive agreement to acquire the remaining 55% equity interests in Mega Broadband Investments Holdings LLC (MBI) that it did not already own, with the transaction expected to close on October 1, 2026.
- The estimated purchase price for the remaining MBI stake is expected to range between approximately $475 million and $495 million, with the assumption of MBI's net indebtedness of $845 million to $895 million.
- Cable One completed the Hargray Acquisition in May 2021, the CableAmerica acquisition in December 2021, and the Clearwave Fiber Contribution in January 2022.
Capital Expenditures
- Cable One's capital expenditures were $285.3 million for the full year 2025, $286.4 million for 2024, $295.66 million for 2023, and $370.45 million for 2022.
- For 2026, capital expenditures are expected to remain substantially consistent with 2025 levels, trending towards the low $300 million range.
- A primary focus of capital expenditures is on infrastructure improvements, including increasing fiber density and coverage, expanding footprint, and enhancing network reliability, along with the deployment of DOCSIS 4.0.
Peer Outperformance in Integrated Telecommunication Services
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -9.8% | 23.9% | 34.4% | ECHO 247% · TMUS 34% · SHEN -60% |
| Publishing | 5 | 11.7% | 15.0% | 9.8% | NYT 31% · NWSA 22% · SCHL 10% |
| Integrated Telecommunication Services ← | 23 | -6.1% | 7.5% | -23.4% | IQST 1489% · TIGO 290% · GSAT 229% |
| Movies & Entertainment | 24 | 5.5% | 74.6% | -34.6% | IMAX 213% · MSGS 119% · BATRA 117% |
| Alternative Carriers | 4 | 19.6% | 22.5% | -47.6% | IRDM 21% · UNIT -43% · LUMN -52% |
| Advertising | 20 | -16.1% | -8.1% | -65.0% | APP 291% · EVC 33% · OMC 22% |
| Interactive Media & Services | 33 | -34.5% | -26.9% | -68.6% | GOOGL 144% · SPOT 122% · META 115% |
| Broadcasting | 15 | -14.2% | -17.2% | -68.9% | FOXA 71% · WBD 22% · NXST 21% |
| Interactive Home Entertainment | 8 | -48.7% | -53.3% | -86.7% | TTWO 37% · RBLX -44% · PINS -65% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 23.64 |
| Mkt Cap | 45.8 |
| Rev LTM | 89,650 |
| Op Inc LTM | 15,628 |
| FCF LTM | 10,925 |
| FCF 3Y Avg | 9,654 |
| CFO LTM | 24,494 |
| CFO 3Y Avg | 22,818 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -0.5% |
| Rev Chg 3Y Avg | 0.4% |
| Rev Chg Q | -1.5% |
| QoQ Delta Rev Chg LTM | -0.4% |
| Op Inc Chg LTM | -9.5% |
| Op Inc Chg 3Y Avg | -4.3% |
| Op Mgn LTM | 20.6% |
| Op Mgn 3Y Avg | 20.7% |
| QoQ Delta Op Mgn LTM | -0.6% |
| CFO/Rev LTM | 30.8% |
| CFO/Rev 3Y Avg | 30.1% |
| FCF/Rev LTM | 14.1% |
| FCF/Rev 3Y Avg | 12.7% |
Price Behavior
| Market Price | $14.65 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 07/01/2015 | |
| Distance from 52W High | -91.8% | |
| 50 Days | 200 Days | |
| DMA Price | $29.47 | $71.41 |
| DMA Trend | down | down |
| Distance from DMA | -50.3% | -79.5% |
| 3M | 1YR | |
| Volatility | 118.5% | 96.2% |
| Downside Capture | 674.67 | 220.12 |
| Upside Capture | -118.81 | -97.83 |
| Correlation (SPY) | 5.4% | 6.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.58 | 0.59 | -0.10 | -0.08 | 0.38 | 0.55 |
| Up Beta | 4.61 | -1.66 | -0.45 | -1.13 | -0.38 | 0.61 |
| Down Beta | 5.23 | 3.22 | 1.27 | 1.32 | 1.55 | 0.59 |
| Up Capture | -307% | -167% | -151% | -83% | -41% | -3% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 9 | 19 | 27 | 53 | 101 | 331 |
| Down Capture | 389% | 349% | 107% | 133% | 125% | 104% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 12 | 23 | 37 | 74 | 150 | 419 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CABO | |
|---|---|---|---|---|
| CABO | -91.2% | 96.0% | -2.08 | - |
| Sector ETF (XLC) | -2.9% | 15.9% | -0.38 | 29.1% |
| Equity (SPY) | 17.7% | 13.0% | 0.98 | 6.3% |
| Gold (GLD) | 14.7% | 29.3% | 0.46 | -9.3% |
| Commodities (DBC) | 46.8% | 20.7% | 1.75 | -15.3% |
| Real Estate (VNQ) | 4.5% | 13.6% | 0.07 | 18.9% |
| Bitcoin (BTCUSD) | -25.5% | 44.8% | -0.53 | -8.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CABO | |
|---|---|---|---|---|
| CABO | -61.6% | 61.6% | -1.29 | - |
| Sector ETF (XLC) | 7.4% | 21.0% | 0.27 | 28.3% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 20.8% |
| Gold (GLD) | 19.2% | 18.8% | 0.83 | -2.9% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | -5.3% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 25.4% |
| Bitcoin (BTCUSD) | 12.3% | 52.6% | 0.41 | 5.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CABO | |
|---|---|---|---|---|
| CABO | -29.3% | 48.0% | -0.54 | - |
| Sector ETF (XLC) | 9.4% | 22.1% | 0.47 | 34.6% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 30.7% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 0.3% |
| Commodities (DBC) | 8.7% | 18.1% | 0.39 | 2.0% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 30.6% |
| Bitcoin (BTCUSD) | 63.9% | 66.2% | 1.04 | 6.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/22/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -16.1% | -18.4% | -42.7% |
| 4/30/2026 | -18.0% | -33.6% | -43.9% |
| 2/26/2026 | 5.6% | 21.0% | 4.7% |
| 11/6/2025 | -1.5% | -19.0% | -10.0% |
| 7/31/2025 | 6.9% | 6.1% | 26.2% |
| 5/1/2025 | -41.8% | -34.0% | -46.2% |
| 2/27/2025 | -2.4% | 3.0% | 0.4% |
| 11/7/2024 | 4.1% | 5.5% | 4.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 11 |
| # Negative | 14 | 15 | 13 |
| Median Positive | 3.2% | 4.8% | 4.7% |
| Median Negative | -4.9% | -6.8% | -10.0% |
| Max Positive | 6.9% | 21.0% | 26.2% |
| Max Negative | -41.8% | -34.0% | -46.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -16.1% | -18.4% | -42.7% |
| 4/30/2026 | -18.0% | -33.6% | -43.9% |
| 2/26/2026 | 5.6% | 21.0% | 4.7% |
| 11/6/2025 | -1.5% | -19.0% | -10.0% |
| 7/31/2025 | 6.9% | 6.1% | 26.2% |
| 5/1/2025 | -41.8% | -34.0% | -46.2% |
| 2/27/2025 | -2.4% | 3.0% | 0.4% |
| 11/7/2024 | 4.1% | 5.5% | 4.4% |
| 8/1/2024 | -2.5% | -0.4% | -12.1% |
| 5/2/2024 | -4.4% | -0.9% | -0.9% |
| 2/22/2024 | -7.3% | -4.2% | -9.2% |
| 11/2/2023 | 5.9% | -2.2% | 0.2% |
| 8/3/2023 | -7.8% | -6.9% | -13.1% |
| 5/4/2023 | 0.5% | -3.4% | -5.1% |
| 2/23/2023 | -4.9% | -6.0% | -7.6% |
| 11/3/2022 | -14.8% | -18.7% | -8.8% |
| 8/4/2022 | -4.9% | -6.8% | -21.6% |
| 5/5/2022 | 3.3% | 3.0% | 19.0% |
| 2/24/2022 | 1.3% | 1.3% | 6.0% |
| 11/4/2021 | 3.1% | 5.9% | 6.8% |
| 8/9/2021 | 1.5% | 4.8% | 2.7% |
| 5/6/2021 | 3.0% | 1.3% | 4.4% |
| 2/25/2021 | -2.2% | -9.6% | -8.0% |
| 11/5/2020 | -0.9% | -3.3% | 7.8% |
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 11 |
| # Negative | 14 | 15 | 13 |
| Median Positive | 3.2% | 4.8% | 4.7% |
| Median Negative | -4.9% | -6.8% | -10.0% |
| Max Positive | 6.9% | 21.0% | 26.2% |
| Max Negative | -41.8% | -34.0% | -46.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/09/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 02/28/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
Insider Activity
Updated 9/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Koetje, Todd M | Chief Financial Officer | Direct | Buy | 3032026 | 100.16 | 998 | 99,960 | 770,831 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Koetje, Todd M | Chief Financial Officer | Direct | Buy | 3032026 | 100.16 | 998 | 99,960 | 770,831 | Form |
Investor Activity (13F)
Updated Sep 26, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Integrated Telecommunication Services Resources |
| Fierce Telecom |
| Telecoms.com |
| Light Reading |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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