/
Description of Business GCI Liberty, Inc. ( GCI Liberty, the Company, we, us or our ) consists of 100% of the outstanding equity interests in GCI, LLC, GCI Holdings, LLC ( GCI Holdings or GCI ) and their subsidiaries (collectively, the GCI Business ), and was formerly owned by Liberty Broadband, prior to the Separation (defined below). GCI Liberty was formed in Nevada in December 2024 for the p…
The business is unprofitable at the operating level (-33.17% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue growth slowed to 3.0%, essentially flat. Margins also contracted 47.0pp. This is a business that needs a catalyst.
ROIC dropped from 4.36% to -10.28%, capital efficiency is deteriorating. Net debt of $635M represents 5.2x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$1.04B
▲ +3.0% YoY
Net Income (TTM)
-$326M
▼ -541.4% YoY
Op. Margin
-36.20%
▼ -47.0pp YoY
ROIC
-10.92%
▼ -14.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$90M
▲ +293.5% YoY
Op. Cash Flow (TTM)
$329M
▲ +33.1% YoY
Net Debt
$546M
Cash & Equiv.
$435M
Continue Research