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Communication Services · NASDAQ: CHTR

Charter: how the business works

Charter sells Spectrum internet, mobile and TV service to US homes and businesses, with revenue of $54.8 billion and net income of $5.0 billion in FY2025, and added Cox Communications' cable business in August 2026.

By · Checked against filings: . Editorial policy. Corrections

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Charter Communications, Inc. · Stamford, Connecticut · Founded 1993

Updated for Q3 FY2026 · checked

Revenue, FY2025
$54.8B
Net income attributable to Charter, FY2025
$5.0B
Internet customers, Sep 30, 2026 (including Cox)
34.3 million
Total debt, Sep 30, 2026
$107.1B
Employees (full-time equivalent), Dec 31, 2025, before Cox
About 91,900

For learning only. Cityfort is not a registered investment adviser or broker-dealer and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

The short version

Charter in 5 points

  1. 1 · What it sells

    Charter sells Spectrum internet, mobile, TV and phone service to US homes and businesses over its own cable network, with $54,774 million of revenue in FY2025.

    More: what it sells

  2. 2 · Who pays it

    In FY2025, households paid 77.7% of Charter's revenue, businesses 13.4%, device buyers and other sources 6.2% and advertisers 2.7%.

    More: who pays it

  3. 3 · What it keeps from $100

    Of every $100 of FY2025 revenue, Charter kept $9.10 as net income after $9.21 went on interest, and its operating income was $23.57 per $100.

    More: what it keeps from $100

  4. 4 · Where the operating profit comes from

    Charter reports one segment and no profit by product, so its FY2025 operating income of $12,908 million comes from the whole cable business after $8,822 million of TV programming and $8,711 million of depreciation and amortization.

    More: where the operating profit comes from

  5. 5 · The one thing to watch

    Without Cox, Charter lost 156,000 Internet customers in Q3 FY2026 while adding 440,000 mobile lines.

    More: the one thing to watch

Sources: From Charter's FY2025 10-K and Q3 FY2026 earnings release · checked

See the full receipt and the management scorecard below

01Where the money goes · FY2025

Where does $100 of Charter's money go?

Of every $100 that came in (revenue plus other income), this is where it went.

Charter · FY2025

Receipt for every $100

Where $100 of Charter's money went in FY2025
Network, customer service, marketing and other running costs$44.4
TV programming$16.1
Depreciation and amortization$15.9
Interest$9.2
Income tax and other expenses$3.8
Advance/Newhouse's share of profit$1.4
Kept as net income$9.1
Total$100

Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.

How this is worked out

Of every $100 of revenue in FY2025 ($54,774 million). Cityfort calculation from the FY2025 10-K. Running costs include $673 million of stock-based compensation and $416 million of other operating expenses; the last cost line is income tax ($1,692 million) plus other expenses ($408 million). Operating income was $23.57 per $100 of revenue.

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02The business in one line

What does Charter do?

US households and businesses pay Charter a monthly bill for Spectrum internet, mobile and TV; most of the money goes on running its cable network, TV programming and interest on its debt, and what is left is profit.

  • Homes paid 77.7% of Charter's FY2025 revenue of $54,774 million. Internet alone was 43.4% and TV (video) 25.0%.
  • Charter kept $9.10 of every $100 of FY2025 revenue as net income, after $9.21 went on interest.

03Who pays it

Who pays Charter?

  • Households (residential)

    78%

    of revenue

    Monthly bills for internet ($23,765 million), TV ($13,703 million), mobile service ($3,762 million) and voice ($1,350 million). Residential revenue was $42,580 million in FY2025, 77.7% of revenue.

  • Businesses (commercial)

    13%

    of revenue

    Small businesses paid $4,346 million and mid-market and large businesses $2,969 million in FY2025. Commercial revenue was $7,315 million, 13.4% of revenue.

  • Device buyers and other sources (other revenue)

    6%

    of revenue

    Mostly sales of mobile phones and other devices, plus other items. Other revenue was $3,411 million in FY2025, 6.2% of revenue.

  • Advertisers

    3%

    of revenue

    Ads on the channels Charter carries. Advertising revenue was $1,468 million in FY2025, 2.7% of revenue, against $1,780 million in FY2024, a US election year.

  • Households (residential)78%
  • Businesses (commercial)13%
  • Device buyers and other sources (other revenue)6%
  • Advertisers3%

How spread out the customers are

Shares of FY2025 revenue ($54,774 million) are a Cityfort calculation from the FY2025 10-K. All of Charter's customers are in the US, and the 10-K names no single customer as material.

04Why it makes money

Why does Charter make money?

Charter's network costs a lot to build and keep up, but each extra customer on it adds a monthly bill at little extra cost.

Operating income rose from $20.37 per $100 of revenue in FY2021 to $23.57 in FY2025, while revenue grew 6.0% over the four years. Programming costs fell from $10,638 million in FY2023 to $8,822 million in FY2025. The other side is capital spending, which rose to $11,659 million in FY2025, and interest of $5,042 million.

Operating income per $100 of revenue

$20.4$23.6

FY2021 to FY2025

  1. Charter builds and upgrades cable lines past homes and businesses.
  2. Households sign up for internet, often with mobile and TV.
  3. They pay a bill every month for as long as they stay.
  4. Bills cover network running costs, programming and staff.
  5. What is left pays interest, buybacks and more network building.

↺ Step 5 feeds back into step 1.

05Business segments · FY2025

Which businesses make up Charter?

  • Internet

    43%

    Home internet. Charter reports one segment, so this and the other product lines are revenue only, with no profit split.

    Revenue $23.8B

  • Video

    25%

    Home TV packages; down from $17,630 million in FY2021.

    Revenue $13.7B

  • Commercial

    13%

    Services for small, mid-market and large businesses.

    Revenue $7.3B

  • Mobile service

    7%

    Home mobile plans; up from $1,239 million in FY2021.

    Revenue $3.8B

  • Other

    6%

    Mostly mobile device sales, plus other items.

    Revenue $3.4B

  • Advertising

    3%

    Ads on the channels Charter carries; $1,882 million in FY2022 and $1,780 million in FY2024, both US election years.

    Revenue $1.5B

  • Voice

    3%

    Home phone service.

    Revenue $1.4B

How the mix changed

  • Internet
  • Video
  • Commercial
  • Mobile service
  • Other
  • Advertising
  • Voice

Revenue by segment, FY2021 to FY2025.

US$

See the numbers
How the mix changed (US$)
YearInternetVideoCommercialMobile serviceOtherAdvertisingVoice
FY2021$21.1B$17.6B$6.8B$1.2B$1.8B$1.6B$1.6B
FY2022$22.2B$17.5B$7.0B$1.7B$2.2B$1.9B$1.6B
FY2023$23.0B$16.4B$7.1B$2.2B$2.8B$1.6B$1.5B
FY2024$23.4B$15.1B$7.3B$3.1B$3.0B$1.8B$1.4B
FY2025$23.8B$13.7B$7.3B$3.8B$3.4B$1.5B$1.4B

06The numbers · Consolidated · US$

How has Charter done?

Revenue

$54.8BFY2025

Revenue stayed between $51.7 billion and $55.1 billion from FY2021 to FY2025, and Q3 FY2026 revenue rose 9.1% to $14.9 billion because Cox was included from Aug 20, 2026, bringing in $1.4 billion.

US$

See the numbers
Revenue (US$)
PeriodRevenue (US$)
FY2021$51.7B
FY2022$54.0B
FY2023$54.6B
FY2024$55.1B
FY2025$54.8B
Q3 FY2024$13.8B
Q4 FY2024$13.9B
Q1 FY2025$13.7B
Q2 FY2025$13.8B
Q3 FY2025$13.7B
Q4 FY2025$13.6B
Q1 FY2026$13.6B
Q2 FY2026$13.5B
Q3 FY2026$14.9B

Net profit

$5.0BFY2025

Net income attributable to Charter stayed between $4.6 billion and $5.1 billion a year from FY2021 to FY2025, then Q3 FY2026 showed a $2.4 billion loss after a $6.3 billion pre-tax franchise impairment.

US$

See the numbers
Net profit (US$)
PeriodNet profit (US$)EPS ($)
FY2021$4.7B$24.47
FY2022$5.1B$30.74
FY2023$4.6B$29.99
FY2024$5.1B$34.97
FY2025$5.0B$36.21
Q3 FY2024$1.3B$8.82
Q4 FY2024$1.5B$10.10
Q1 FY2025$1.2B$8.42
Q2 FY2025$1.3B$9.18
Q3 FY2025$1.1B$8.34
Q4 FY2025$1.3B$10.34
Q1 FY2026$1.2B$9.17
Q2 FY2026$1.3B$10.66
Q3 FY2026−$2.4B−$20.50

Profit kept per $100 of revenue

$9.1FY2025

Charter kept $9.1 of net income per $100 of revenue in FY2025, against $9.0 in FY2021, while operating income rose to $23.6 per $100 from $20.4.

$ of profit per $100 of revenue (net margin)

See the numbers
Profit kept per $100 of revenue ($ of profit per $100 of revenue (net margin))
YearNet marginEBITDA margin
FY20219.0%38.4%
FY20229.4%38.6%
FY20238.3%38.9%
FY20249.2%39.6%
FY20259.1%39.5%

Free cash flow

$4.4BFY2025

Free cash flow (cash from operations minus capital spending) fell to $4.4 billion in FY2025 from $8.6 billion in FY2021, as capital spending rose to $11.7 billion from $7.6 billion.

US$ · cash from operations minus spending on plants and equipment

See the numbers
Free cash flow (US$ · cash from operations minus spending on plants and equipment)
YearCash from operationsCapital spendingFree cash flow
FY2021$16.2B$7.6B$8.6B
FY2022$14.9B$9.4B$5.5B
FY2023$14.4B$11.1B$3.3B
FY2024$14.4B$11.3B$3.2B
FY2025$16.1B$11.7B$4.4B
See all yearly numbers
Charter annual financials, FY2021–FY2025, US$
YearRevenueEBITDANet profitEPS ($)Net income, total (US$)Operating cashCapexFree cash
FY2021$51.7B$19.9B$4.7B$24.47$5.3B$16.2B$7.6B$8.6B
FY2022$54.0B$20.9B$5.1B$30.74$5.8B$14.9B$9.4B$5.5B
FY2023$54.6B$21.3B$4.6B$29.99$5.3B$14.4B$11.1B$3.3B
FY2024$55.1B$21.8B$5.1B$34.97$5.9B$14.4B$11.3B$3.2B
FY2025$54.8B$21.6B$5.0B$36.21$5.8B$16.1B$11.7B$4.4B

EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (Fiscal year is the calendar year, ending Dec 31. FY2021 to FY2025 and quarters up to Q2 FY2026 are Charter before Cox; Q3 FY2026 includes Cox from Aug 20, 2026. Q3 FY2026 EBITDA (operating income plus depreciation and amortization) is a $905 million loss because of the $6,326 million franchise impairment; without it, it would be $5,421 million (Cityfort calculation from the Q3 FY2026 earnings release).). Net profit is the share belonging to the company's owners. Total net income differs from net profit to the company's owners: Total net income includes $779 million that belongs to Advance/Newhouse, which owns part of Charter's operating partnership.

Download Charter's yearly and quarterly numbers (CSV, with source ids)

Learn: Fiscal years that don't end in December: Nvidia's FY2027 explained · Stock-based compensation and dilution: pay that becomes shares

07Who runs it

Who runs Charter, and did they deliver?

  • Christopher L. Winfrey

    President and Chief Executive Officer · since 2022

    CEO since December 2022 and a director since November 2023. His 2025 pay in the Summary Compensation Table was $6,466,193, 81.7 times the median employee's $79,159.

  • Alexander C. Taylor

    Chairman of the Board · since 2026

    Chairman and CEO of Cox Enterprises. Became Charter's chairman for an initial three-year term when the Cox deal closed on Aug 19, 2026.

  • Kevin D. Howard

    Interim Chief Financial Officer · since 2026

    Charter's chief accounting officer and controller. Named interim CFO after Jessica Fischer resigned on Aug 28, 2026, effective Oct 15, 2026. His interim pay includes a $925,000 base salary.

  • Eric Zinterhofer

    Lead Independent Director · since 2026

    Non-executive chairman before the Cox deal; lead independent director since it closed.

What they said, and what happened

1 delivered · 4 too early to tell

  1. Said on Jan 31, 2025

    Spend about $12 billion on capital projects in FY2025, including about $4.2 billion on line extensions.

    What happened

    FY2025 capital spending was $11.7 billion, including $3.9 billion on line extensions.

    Delivered
  2. Said on May 16, 2025

    Achieve about $500 million of annualized cost savings within three years of closing the Cox deal.

    What happened

    The deal closed on Aug 19, 2026. On Nov 6, 2026 Charter said it now expects over $1 billion of savings from the combination.

    Too early to tell
  3. Said on May 16, 2025

    Set the target leverage range at 3.50 to 4.00 times when the Cox deal closes.

    What happened

    The Q3 FY2026 10-Q does not restate the 3.50 to 4.00 times range. It says Charter plans to cut leverage to 3.5 times within three years of closing; leverage excluding transition expenses was 3.93 times on Sep 30, 2026.

    Too early to tell
  4. Said on May 16, 2025

    Change the combined company's name to Cox Communications within a year after the Cox deal closes.

    What happened

    The deal closed on Aug 19, 2026. The closing 8-K and the Q3 FY2026 10-Q do not mention the name change.

    Too early to tell
  5. Said on Jan 30, 2026

    Spend about $11.4 billion on capital projects in FY2026 and complete the network upgrade in 2027.

    What happened

    With Cox, Charter now expects about $13.0 billion on a pro forma basis, excluding transition spending. Capital spending was $8,753 million in the first nine months of FY2026.

    Too early to tell

08What could go wrong

What could go wrong for Charter?

  • Competition

    Losing internet customers to fiber and wireless rivals

    The 10-K names AT&T and Verizon fiber, overlapping about 27% and 16% of Charter's footprint, and wireless home internet as rivals. For Charter alone, excluding Cox, Internet customers fell in each of the nine quarters to Q3 FY2026.

    Watch Internet customer losses each quarter (156,000 without Cox in Q3 FY2026) and internet revenue.

  • Demand

    Fewer people paying for TV

    Video customers fell from 15,833 thousand at Dec 31, 2021 to 12,605 thousand at Dec 31, 2025, and video revenue from $17,630 million to $13,703 million.

    Watch Video customers and video revenue each quarter.

  • Debt

    Large debt

    Debt principal was $108.6 billion on Sep 30, 2026, and interest took $5,042 million in FY2025. The 10-K says about 13% of debt pays variable rates. Unsecured notes are high yield, the 10-Q says.

    Watch Interest expense, debt principal and Charter's leverage measure against its 3.5 times plan.

  • Execution

    Absorbing Cox, and a $6.3 billion write-down

    Q3 FY2026 carried a $6,326 million pre-tax impairment of cable franchises, which Charter linked to a sustained decline in its stock price. Charter is moving Cox customers to Spectrum products and bringing Cox customer service back to the US over 18 months.

    Watch Cox customer losses, savings reported against the over $1 billion Charter expects, and any further impairments.

  • Governance

    Voting control shared with Cox and Advance/Newhouse

    Cox Enterprises (28.7%) and Advance/Newhouse (14.35%) hold special Class C and Class B shares whose votes match their exchangeable units, capped at 30% and 15%. Each may name up to 3 directors.

    Watch Changes to the holders' agreements, voting caps or board seats, and any unit exchanges or sales.

  • Concentration

    Mobile depends on Verizon's network

    Spectrum Mobile rents capacity on Verizon's network, and Verizon is also a main fiber rival. Mobile service revenue was $3,762 million in FY2025.

    Watch Any change to the Verizon agreement, and mobile line additions each quarter.

  • Execution

    New finance and commercial leaders

    The CFO resigned in August 2026 and the Chief Commercial Officer left in October 2026, while the company is integrating Cox and starting a new operating model.

    Watch 8-K filings naming a permanent CFO and other officer changes.

09Both sides

What do supporters and critics point to?

Facts each side points to. We don't say which side is right.

What supporters point to

  • Mobile service revenue rose from $1,239 million in FY2021 to $3,762 million in FY2025, and mobile lines reached 13,452 thousand on Sep 30, 2026 with Cox.
  • Operating income rose from $20.37 per $100 of revenue in FY2021 to $23.57 in FY2025.
  • Buybacks cut diluted shares from 193.04 million in FY2021 to 137.74 million in FY2025.
  • With Cox, Charter's network passed 70,706 thousand homes and businesses on Sep 30, 2026, against 58,981 thousand on Jun 30, 2026.
  • Charter's own leverage measure (net debt ÷ the last four quarters of Adjusted EBITDA, excluding transition costs) was 3.93 times on Sep 30, 2026. On Dec 31, 2025, for Charter alone before Cox, it was 4.15 times.

What critics point to

  • For Charter alone, excluding Cox, Internet customers fell in each of the nine quarters to Q3 FY2026.
  • Video customers fell from 15,833 thousand at Dec 31, 2021 to 12,605 thousand at Dec 31, 2025.
  • Q3 FY2026 showed a $2,397 million net loss after a $6,326 million franchise impairment that Charter linked to a sustained decline in its stock price.
  • Free cash flow fell from $8,604 million in FY2021 to $4,418 million in FY2025 as capital spending rose to $11,659 million.
  • Charter's own pro forma revenue, with Cox in both years, fell 1.5% in Q3 FY2026, while reported revenue rose 9.1%.

10What to watch next

What should you watch next at Charter?

Next event

Q4 FY2026 results

Date not announced yet.

  • Internet customers against mobile lines

    Without Cox, Charter lost 156,000 Internet customers and added 440,000 mobile lines in Q3 FY2026. Both counts come in each quarterly release.

  • Cox savings and the new operating model

    Charter said on Nov 6, 2026 that it expects over $1 billion of Cox savings and targets $2 billion of run-rate cost savings over 18 months. Charter reports progress against these targets in its later earnings releases.

  • Debt and leadership

    Charter's leverage measure was 3.93 times on Sep 30, 2026 against a plan of 3.5 times within three years, and its CFO role is filled on an interim basis.

11Key dates

What are the key dates for Charter?

Dates as stated in the filings. A date that no filing has given yet shows as not yet stated.
Key dates for Charter
EventDateSource
Name change to Cox CommunicationsCharter said on May 16, 2025 that the combined company would take the Cox Communications name within a year after closing (Aug 19, 2026); later filings used here do not restate it.Not yet stated8-K (Item 7.01): Charter and Cox Communications announce agreement to combine (Ex. 99.1); Form 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026)
Charter may redeem Cox's convertible preferred units$6.0 billion of 6.875% units, convertible into about 12.6 million common units at $477.41. After this date Charter may redeem them, but only if the Class A share price exceeds 130% of the conversion price.Form 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026)
Series A preferred stock (CHTRP) must be redeemedForm 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026)

12Key facts

Key facts about Charter

What does Charter Communications do?
Charter Communications, Inc. sells internet, mobile, TV and phone service under the Spectrum brand to US homes and businesses over its own cable network. Charter had FY2025 revenue of $54,774 million, and on Aug 19, 2026 it combined with Cox Communications' cable business.
How does Charter make money, and what is its business model?
Charter's business model is charging households and businesses a monthly bill for Spectrum internet, mobile, TV and phone service on its own cable network, plus selling advertising. In FY2025, Charter's internet revenue was $23,765 million and its video (TV) revenue $13,703 million, out of total revenue of $54,774 million.
Is Charter profitable?
Charter had operating income of $12,908 million and net income attributable to Charter shareholders of $4,987 million in FY2025, on revenue of $54,774 million. In Q3 FY2026, Charter reported a net loss of $2,397 million after a $6,326 million pre-tax, non-cash impairment of its cable franchises.
What is Charter's revenue by segment?
Charter Communications reports a single segment and splits its revenue by product. In FY2025, Charter's revenue was: internet $23,765 million, video $13,703 million, commercial (business customers) $7,315 million, mobile service $3,762 million, other, including mobile device sales, $3,411 million, advertising $1,468 million and voice $1,350 million.
Who are Charter's customers?
Charter Communications' customers are mainly US households: residential services brought in 77.7% of Charter's FY2025 revenue, businesses 13.4% and advertisers 2.7%. Charter had 36,691 thousand customer relationships on Sep 30, 2026, including Cox's residential customers. The FY2025 10-K names no single customer as material.
Who owns Charter?
After the Cox deal, Cox Enterprises reported owning 28.7% of Charter Communications' Class A stock, counting its own exchangeable units, as of Sep 28, 2026, and Advance/Newhouse 14.35% on the same kind of basis as of Aug 19, 2026. Dodge & Cox reported 12.6% (Jun 30, 2026), BlackRock 7.4% and Vanguard Capital Management 7.31% (both Sep 30, 2026).
How many internet customers does Charter have?
Charter had 34,314 thousand Internet customers on Sep 30, 2026, including legacy Cox residential customers, against 29,799 thousand a year earlier for Charter alone. Without Cox, Charter lost 156,000 Internet customers in Q3 FY2026.
How big is Spectrum Mobile?
Charter's Spectrum Mobile had 13,452 thousand mobile lines on Sep 30, 2026, including Cox, against 11,338 thousand a year earlier for Charter alone. Spectrum Mobile rents capacity on Verizon's network and also uses Charter's own WiFi and CBRS spectrum. Charter's mobile service revenue was $3,762 million in FY2025, against $1,239 million in FY2021.
How many TV customers does Charter have?
Charter had 13,801 thousand video (TV) customers on Sep 30, 2026, including Cox, against 15,833 thousand at Dec 31, 2021 for Charter alone. Charter's video revenue was $13,703 million in FY2025, against $17,630 million in FY2021.
What was Charter's deal with Cox Communications?
Charter Communications completed its combination with Cox Communications on Aug 19, 2026. Cox's residential cable business was contributed to Charter Holdings, Charter's operating partnership, and Charter bought Cox's commercial fiber and IT business for $3.5 billion in cash. The preliminary purchase price was $15,197 million, and Cox's results are in Charter's numbers from Aug 20, 2026.

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13What it sells

13What it sells

What does Charter sell?

Charter runs cable networks that reach homes and businesses in 41 US states. It sells internet, mobile, TV and phone service over them under the Spectrum brand, mostly to households, and sells advertising on its TV channels.
  • Spectrum Internet

    Home internet over Charter's own cable network, its largest product. Internet brought in $23,765 million in FY2025, 43.4% of revenue.

  • Spectrum TV (video)

    Cable TV packages, now bundled with programmers' ad-supported streaming apps such as Disney+, HBO Max and Peacock. Video brought in $13,703 million in FY2025, down from $17,630 million in FY2021.

  • Spectrum Mobile

    Phone plans that run on Verizon's network plus Charter's own WiFi and CBRS spectrum. Mobile service brought in $3,762 million in FY2025; device sales are counted in other revenue.

  • Spectrum Business and Spectrum Enterprise (commercial)

    Internet, phone, mobile and network services for small firms and larger companies. Commercial revenue was $7,315 million in FY2025.

  • Spectrum Voice

    Home phone service over the cable network. Voice brought in $1,350 million in FY2025.

  • Advertising

    Ads sold on the TV channels Charter carries. Advertising brought in $1,468 million in FY2025, against $1,780 million in FY2024.

Think of it like this

Think of a toll-road owner whose road is a cable into your home: Charter charges a monthly fee for the internet, TV and phone traffic that runs over it.

What it does

  • Does: Owns and runs its own cable network, which passed about 58 million homes and businesses in 41 states at Dec 31, 2025, before Cox
  • Does: Sells internet, mobile, TV and phone service under the Spectrum brand
  • Does: Since Aug 19, 2026, owns Cox Communications' residential cable business and its commercial fiber and IT business

What it does not do

  • Does not: Does not own a mobile network: Spectrum Mobile rents capacity on Verizon's network
  • Does not: Does not own most of the roughly 375 TV channels it offers: it pays programmers to carry them. It owns over 35 local news channels, the Spectrum SportsNet sports network and 35% of SportsNet New York
  • Does not: Does not sell service outside the US
  • Does not: Has not paid cash dividends on its common stock
14How the money flows

14How the money flows · FY2025

How does money flow through Charter?

Money in

  • Revenue$54.8B

The company

Charter

$54.8B came in

Money out

  • Network, customer service, marketing and other running costs$24.3B
  • TV programming$8.8B
  • Depreciation and amortization$8.7B
  • Interest$5.0B
  • Income tax and other expenses$2.1B
  • Advance/Newhouse's share of profit$779M
  • Net income attributable to Charter shareholders$5.0B
  1. In FY2025 customers paid Charter $54,774 million, mostly monthly bills for internet, TV and mobile.
  2. Running costs took $24,333 million: devices and other costs of revenue, network field work, customer service, marketing and staff. TV channel fees (programming) took $8,822 million.
  3. Wear and tear on the network and other assets (depreciation and amortization) took $8,711 million.
  4. Interest on debt took $5,042 million. Income tax and other expenses took $2,100 million.
  5. Advance/Newhouse's share of the operating partnership took $779 million. That left $4,987 million of net income for Charter shareholders.
15What it needs to run

15What it needs to run

What does Charter need to run?

  • A cable network

    Charter's network passed about 58 million homes and businesses in 41 states at Dec 31, 2025, and 70,706 thousand on Sep 30, 2026 with Cox. Capital spending was $11,659 million in FY2025.

  • Local cable franchises

    Cable franchises are permits from local governments to run cables in an area. Charter books them as assets, worth $67,915 million on Sep 30, 2026 after a $6,326 million impairment in Q3 FY2026.

  • Verizon's mobile network

    Spectrum Mobile is a mobile virtual network operator: it rents capacity on Verizon's network and adds Charter's own WiFi and CBRS spectrum.

  • TV programming

    Charter pays programmers to carry their channels. Programming cost $8,822 million in FY2025, 27% of operating costs, against $9,653 million in FY2024.

  • People

    About 91,900 full-time equivalent employees at Dec 31, 2025, all in the US, before Cox joined. Charter said on Aug 20, 2026 it would bring legacy Cox customer service back to the US over 18 months.

16Competitors and what protects it

16Competitors and what protects it

Who does Charter compete with?

Charter's FY2025 10-K names AT&T and Verizon as its main fiber rivals, overlapping about 27% and 16% of its footprint, and names national wireless companies and streaming services as rivals too. It gives no market-share figures.
  • AT&T

    NYSE: T

    Named in Charter's 10-K as a main fiber-to-the-home rival, with fast home internet overlapping about 27% of Charter's footprint. AT&T also sells mobile service and 5G home internet.

  • Verizon

    NYSE: VZ

    Named in Charter's 10-K as a main fiber rival, overlapping about 16% of Charter's footprint, and as a national mobile operator. Spectrum Mobile itself runs on Verizon's network.

  • T-Mobile

    NASDAQ: TMUS

    Named in Charter's 10-K as a national mobile operator that also sells fixed wireless home internet over its cell towers.

  • Streaming services

    Charter's 10-K names streaming services and satellite TV providers as rivals to its TV packages. Charter now bundles programmers' ad-supported streaming apps, such as Disney+, HBO Max and Peacock, into Spectrum TV Select.

What protects the business

Each strength is scored 1 (weak) to 5 (strong) for the business, with the reason. It is not a rating of the share.

  • Network reach4 of 5

    Charter's network passed about 58 million homes and businesses in 41 states at Dec 31, 2025, and 70,706 thousand on Sep 30, 2026 with Cox.

  • Limited fiber overlap so far3 of 5

    The 10-K says AT&T's and Verizon's fiber overlaps about 27% and 16% of Charter's operating footprint, so most of its homes do not yet have either rival's fiber.

  • Bundling mobile with internet3 of 5

    Mobile lines rose from 3,564 thousand at Dec 31, 2021 to 11,766 thousand at Dec 31, 2025, sold alongside Spectrum Internet. Charter does not own the mobile network it uses.

Weak spot

Internet customers

For Charter alone, excluding Cox, Internet customers fell in each of the nine quarters from Q3 FY2024 to Q3 FY2026. It lost 156,000 in Q3 FY2026.

17Where growth could come from

17Where growth could come from

Where could Charter's growth come from?

Charter said in its Q3 FY2026 earnings release (Nov 6, 2026) that it expects over $1 billion of cost savings from combining with Cox, and that a new operating model targets $2 billion of annualized run-rate operating cost savings over the next 18 months. It said FY2026 capital spending, including Cox for the full year and excluding transition spending, would be about $13.0 billion. Its Q3 FY2026 10-Q says it plans to cut its leverage measure to 3.5 times within three years of the Cox closing.
Management statement, Nov 6, 2026. Reported as a statement, not our forecast.
  • Spectrum Mobile

    Working

    13.5 million mobile lines on Sep 30, 2026 with Cox, against 11.3 million a year earlier for Charter alone

    Without Cox, Charter added 440,000 lines in Q3 FY2026. Mobile service revenue was $1,134 million in Q3 FY2026, against $954 million a year earlier.

    Status: Working, on track against what the company said.

  • Home internet

    Behind

    For Charter alone, excluding Cox, Internet customers fell in each of the nine quarters to Q3 FY2026

    Without Cox, Charter lost 156,000 Internet customers in Q3 FY2026. Internet revenue was $23,765 million in FY2025, against $23,360 million in FY2024.

    Status: Behind, behind the company's own plan.

  • Cox integration

    New

    Cox revenue of $1.4 billion from Aug 20 to Sep 30, 2026

    Charter launched Spectrum products, pricing and packaging across the legacy Cox footprint of more than 11 million homes and businesses on Sep 16, 2026. It said on Nov 6, 2026 that it expects over $1 billion of cost savings from the combination.

    Status: New, recently announced.

  • Rural network building

    Working

    About 1.3 million subsidized rural passings (homes and businesses the network can serve) activated by Dec 31, 2025

    Charter has spent $7.7 billion on the rural build since it began in 2022, the FY2025 10-K says.

    Status: Working, on track against what the company said.

  • Operating cost savings

    New

    Target of $2 billion of annualized run-rate savings over 18 months, set on Nov 6, 2026

    Charter announced a new operating model with its Q3 FY2026 results. The target is on top of the Cox cost savings.

    Status: New, recently announced.

Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.

18The company's own measures (non-GAAP)

18The company's own measures · FY2025

What do Charter's own measures show?

These are Charter's own measures and counts, shown next to the official (GAAP) figure where one exists. They are never added together.
  • Official (GAAP): Income from operations, FY2025

    $12.9B

    Company's own measure: Adjusted EBITDA (Charter's measure), FY2025

    $22.7B

    Charter adds back depreciation and amortization ($8,711 million), stock-based compensationPay given as shares instead of cash, which spreads ownership more thinly. Learn more ($673 million) and other operating and non-operating items to income. This page's EBITDAOperating profit before wear-and-tear charges (depreciation and amortization). As a margin: per $100 of sales. (operating income plus depreciation and amortization) was $21,619 million.

  • Official (GAAP): Net cash from operating activities, FY2025

    $16.1B

    Company's own measure: Free cash flow (Charter's definition), FY2025

    $5.0B

    Charter subtracts capital spending ($11,659 million) and also adds back the change in accrued capital spending ($586 million). This page's free cash flowCash from operations minus spending on buildings and equipment. Learn more ($4,418 million) subtracts only capital spending.

  • Official (GAAP): Income (loss) from operations, Q3 FY2026

    −$3.5B

    Company's own measure: Adjusted EBITDA (Charter's measure), Q3 FY2026

    $5.9B

    From Q3 FY2026 Charter also adds back the $6,326 million franchise impairment, and it removes the $1,391 million gain on debt exchanges. Cox is included from Aug 20, 2026.

  • Official (GAAP): Net cash from operating activities, Q3 FY2026

    $4.0B

    Company's own measure: Free cash flow (Charter's definition), Q3 FY2026

    $674M

    Operating cash flow less capital spending ($3,027 million) and the change in accrued capital spending ($326 million).

  • Official (GAAP): Reported revenue growth, Q3 FY2026

    9.1%

    Company's own measure: Pro forma revenue growth with Cox in both years, Q3 FY2026

    −1.5%

    Charter's pro forma figures treat Cox as owned since Jan 1, 2024: $16,505 million in Q3 FY2026 against $16,764 million a year earlier. Reported growth is higher only because Cox joined on Aug 20, 2026.

  • Official (GAAP)

    No official figure measures this; it is the company's own operating measure.

    Company's own measure: Leverage (Charter's measure), Sep 30, 2026

    3.9 times

    Net debt ÷ the last four quarters of Adjusted EBITDA, excluding transition costs; 4.15 times on Dec 31, 2025.

  • Official (GAAP)

    No official figure measures this; it is the company's own operating measure.

    Company's own measure: Customer relationships, Sep 30, 2026

    36,691 thousand customers

    Charter's count of residential and business customers, including Cox's residential customers and, since Q4 FY2025, mobile-only customers; 31,058 thousand a year earlier for Charter alone, on the old definition.

  • Official (GAAP)

    No official figure measures this; it is the company's own operating measure.

    Company's own measure: Mobile lines, Sep 30, 2026

    13,452 thousand lines

    Charter's count of Spectrum Mobile lines, including Cox; 11,338 thousand a year earlier for Charter alone.

These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.

Learn: Non-GAAP measures: what a company's "adjusted" numbers leave out · Stock-based compensation and dilution: pay that becomes shares

19Financial strength and debt

19Financial strength · Sep 30, 2026

How much debt does Charter have?

On Sep 30, 2026 Charter's debt exceeded its cash by $106.5 billion, about 6.6 times its $16.0 billion of cash from operations in the four quarters to that date.
  • Total debt$107.1B
  • Cash and investments$573M
  • Net debt (debt minus cash)$106.5B
  • Net worth (shareholders' money)$11.0B
Debt to equity
9.75×
$ of debt for every $1 of shareholders' money
Interest cover
2.6×
how many times operating profit covers interest
  • Debt is the current plus long-term debt on the balance sheet ($1,990 million + $105,062 million); a separate $1,696 million financing facility backed by mobile device payment plans is left out. Debt principal was $108.6 billion: $13.7 billion of bank credit facilities, $68.2 billion of secured notes and $26.7 billion of unsecured notes.
  • Net debt, the 6.6 times (four quarters of cash from operations, $16,017 million) and the debt-to-equity ratio are a Cityfort calculation from the Q3 FY2026 10-Q and the Q4 FY2025 to Q3 FY2026 earnings releases. Interest cover of 2.6 times is FY2025 operating income ($12,908 million) ÷ interest ($5,042 million), a Cityfort calculation from the FY2025 10-K; the last four quarters include the impairment.
  • Equity shown is Charter shareholders' equity of $10,983 million. Noncontrolling interests, mostly Cox's and Advance/Newhouse's units in Charter Holdings, add $18,837 million, for total equity of $29,820 million.
  • Charter's own leverage measure (net debt ÷ the last four quarters of Adjusted EBITDA, excluding transition costs) was 3.93 times on Sep 30, 2026, against 4.15 times on Dec 31, 2025. About $2.4 billion of bank credit was undrawn.
20Who owns it

20Who owns it · ownership as of Feb 20, 2026

Who owns Charter?

Cox Enterprises and Advance/Newhouse each count their own exchangeable units, so their percentages use different bases and are never added. Votes held by Cox above 30% and by Advance/Newhouse above 15% must be cast in line with public holders, except on certain matters. Liberty Broadband, which held 29.07% on Feb 20, 2026, merged into Charter on Aug 19, 2026 and now holds none. Officers and directors held 1.10% of Class A on Feb 20, 2026, before the Cox and Liberty deals; the filings used for this page give no voting percentage for the group.
Officers and directors (as a group), shares
1.1%
Share classes
Charter share classes: shares outstanding (millions) and votes per share
ClassShares (millions)Votes per shareHeld by% of shares% of votesTraded
Class A common stock (114,454,220 shares on the Q3 FY2026 10-Q cover)114.51Public and institutional investors; trades on Nasdaq as CHTR––Yes
Class B common stock (a single share)0See note: One share, held by Advance/Newhouse. It carries votes equal to Advance/Newhouse's Charter Holdings common units as if exchanged for Class A shares.Advance/Newhouse Partnership––No
Class C common stock (a single share)0See note: One share, issued Aug 19, 2026 to Cox Communications Equity Holdings. It carries votes equal to Cox's Charter Holdings common and convertible preferred units as if converted and exchanged.Cox Communications Equity Holdings (Cox Enterprises)––No
Series A cumulative redeemable preferred stock (about 7.2 million shares issued Aug 19, 2026; booked as a liability and due to be redeemed on Mar 9, 2039)7.2See note: The filings used for this page do not state whether it votes.Former Liberty Broadband preferred holders; trades on Nasdaq as CHTRP––Yes
Holders of 5% or more
Charter holders of 5% or more, from the proxy statement or later Schedule 13G filings; each row shows its own date
HolderSharesVotesAs ofSourceNote
Cox Enterprises (Cox Communications Equity Holdings)28.7%–Sep 28, 2026S2646,153,885 shares counting its Charter Holdings common units and convertible preferred units as if exchanged, as a % of Class A plus those units. Schedule 13D/A filed Sep 30, 2026.
Advance/Newhouse Partnership14.4%–Aug 19, 2026S2718,647,794 shares including its Charter Holdings units as if exchanged. Schedule 13D/A filed Aug 20, 2026.
Dodge & Cox12.6%–Jun 30, 2026S3015,032,214 Class A shares, reported before the Liberty Broadband merger changed the share count. Schedule 13G/A filed Aug 13, 2026.
BlackRock7.4%–Sep 30, 2026S288,462,921 Class A shares. Schedule 13G/A filed Oct 27, 2026.
Vanguard Capital Management7.3%–Sep 30, 2026S298,372,081 Class A shares. Schedule 13G/A filed Oct 30, 2026.

From the company's proxy statement (DEF 14A), later Schedule 13G filings and the share counts on its latest annual or quarterly report. Each holder row shows the date of its own filing.

Insider trades · Form 4 data as of Nov 6, 2026

What did Charter's insiders report trading?

Charter's insiders made 52 Form 4A filing an insider must make within two business days of buying or selling the company's shares. Learn more filings in the 12 months to Nov 6, 2026.

They reported 5 purchases (23,593 shares) and 4 sales (89,033 shares) in the open market or privately (codes P and S).

None of the sales were on forms with the Rule 10b5-1 plan box checked.

The same filings report 53 other share transactions (A: 25, D: 9, F: 8, M: 8, G: 2, J: 1).

They also report 41 transactions in options, stock units or other derivatives.

Insiders are a company's officers, directors and owners of more than 10% of a class of its shares. Most changes in their holdings must be reported to the SEC on a Form 4 within two business days. Source: SEC Form 4 filings on EDGAR.

P
a purchase in the open market or privately
S
a sale in the open market or privately
A
a grant, award or other acquisition from the company under Rule 16b-3
D
shares handed back to the company under Rule 16b-3
F
shares withheld or handed over to pay an exercise price or tax when an award is received, exercised or vests
M
exercise or conversion of an option or other derivative, exempt under Rule 16b-3
G
a bona fide gift
J
another acquisition or disposition, described in a footnote

Code meanings: General Instruction 8 of Form 4 (SEC).

The latest 25 of 62 transactions
Charter's insider transactions reported on Form 4 in the 12 months to Nov 6, 2026, newest filing first
InsiderTrade dateCodeSharesPriceHeld after10b5-1 boxFiling
Liberty Broadband CorpDirector, 10% ownerAug 19, 2026J38,583,663 DSee filing0 (indirect: Held through wholly-owned subsidiaries)Not checkedForm 4, filed Aug 21, 2026
CLEMENT DALLAS SDirectorAug 19, 2026A1,009 A$0.001,009Not checkedForm 4, filed Aug 21, 2026
CLEMENT DALLAS SDirectorAug 19, 2026A538 A$0.001,547Not checkedForm 4, filed Aug 21, 2026
Greatrex Mark JamesDirectorAug 19, 2026A1,009 A$0.001,009Not checkedForm 4, filed Aug 21, 2026
Greatrex Mark JamesDirectorAug 19, 2026A538 A$0.001,547Not checkedForm 4, filed Aug 21, 2026
Taylor Alexander CoxDirectorAug 19, 2026A1,681 A$0.005,681Not checkedForm 4, filed Aug 21, 2026
Taylor Alexander CoxDirectorAug 19, 2026A538 A$0.006,219Not checkedForm 4, filed Aug 21, 2026
Liberty Broadband CorpDirector, 10% ownerAug 13, 2026D9,900 D$133.8638,583,663 (indirect: Held through wholly-owned subsidiaries)Not checkedForm 4, filed Aug 13, 2026
Liberty Broadband CorpDirector, 10% ownerJul 14, 2026D129,907 D$135.8838,593,563 (indirect: Held through wholly-owned subsidiaries)Not checkedForm 4, filed Jul 14, 2026
Liberty Broadband CorpDirector, 10% ownerJun 11, 2026D31,315 D$162.8638,723,470 (indirect: Held through wholly-owned subsidiaries)Not checkedForm 4, filed Jun 11, 2026
Rutledge ThomasOther: Director EmeritusMay 27, 2026S9,100 D$146.9640 (indirect: By trust)Not checkedForm 4, filed May 28, 2026
Rutledge ThomasOther: Director EmeritusMay 27, 2026S9,100 D$146.92010 (indirect: By trust)Not checkedForm 4, filed May 28, 2026
Rutledge ThomasOther: Director EmeritusMay 26, 2026S69,633 D$144.44933,968Not checkedForm 4, filed May 28, 2026
Ramos MauricioDirectorMay 15, 2026P9,929 A$140.931419,309Not checkedForm 4, filed May 18, 2026
Liberty Broadband CorpDirector, 10% ownerMay 12, 2026D1,262,078 D$204.3338,754,785 (indirect: Held through wholly-owned subsidiaries)Not checkedForm 4, filed May 14, 2026
Davis WadeDirectorApr 28, 2026P5,728 A$173.726,925Not checkedForm 4, filed Apr 29, 2026
Nair BalanDirectorApr 28, 2026P1,000 A$175.4612,029Not checkedForm 4, filed Apr 28, 2026
Winfrey Christopher LDirector, President and CEOApr 28, 2026P3,468 A$172.234974,409Not checkedForm 4, filed Apr 28, 2026
Winfrey Christopher LDirector, President and CEOApr 28, 2026P3,468 A$172.23493,468 (indirect: By spouse)Not checkedForm 4, filed Apr 28, 2026
WARGO J DAVIDDirectorApr 21, 2026A918 A$0.001,602Not checkedForm 4, filed Apr 23, 2026
Zinterhofer Eric LouisDirectorApr 21, 2026A1,530 A$0.0053,112Not checkedForm 4, filed Apr 23, 2026
Zinterhofer Eric LouisDirectorApr 21, 2026A489 A$0.0053,601Not checkedForm 4, filed Apr 23, 2026
Rutledge ThomasOther: Director EmeritusApr 21, 2026M904,200 A$222.92923,643Not checkedForm 4, filed Apr 23, 2026
Rutledge ThomasOther: Director EmeritusApr 21, 2026F866,248 D$241.52557,395Not checkedForm 4, filed Apr 23, 2026
Rutledge ThomasOther: Director EmeritusApr 21, 2026M723,360 A$232.34780,755Not checkedForm 4, filed Apr 23, 2026

Shares: A = acquired, D = disposed of. A price the filing gives only in a footnote shows as “See filing”. The 10b5-1 box is checked when at least one trade on the form was made under a Rule 10b5-1 plan. A Form 4/A replaces the form it amends. See all of Charter's Form 4 filings on EDGAR.

Learn: Dual-class shares: when votes and ownership don't match · How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Form 4 insider filings: who files, the codes and the footnotes · Rule 10b5-1 trading plans: how insiders pre-schedule their trades

21What it does with profit

21What it does with profit

What does Charter do with its profit?

Charter has not paid cash dividends on its common stock, the FY2025 10-K says. From Sep 2016 to Sep 30, 2026 it bought back about 188.1 million Class A shares and Charter Holdings units for about $80.6 billion. Diluted shares fell from 193.04 million in FY2021 to 137.74 million in FY2025. $836 million of buyback authority was left on Sep 30, 2026, and Cox Enterprises has suspended taking part in buybacks pro rata.
  • Buyback · Dec 31, 2021

    Class A shares bought back during FY2021 (cash paid for treasury stock).

    $15.4B

  • Buyback · Dec 31, 2022

    Class A shares bought back during FY2022.

    $10.3B

  • Buyback · Dec 31, 2023

    Class A shares bought back during FY2023.

    $3.2B

  • Buyback · Dec 31, 2024

    Class A shares bought back during FY2024, the year the Liberty Broadband merger was agreed.

    $1.2B

  • Buyback · Dec 31, 2025

    Class A shares bought back during FY2025.

    $5.1B

  • Buyback · Sep 30, 2026

    Purchase of treasury stock in the nine months to Sep 30, 2026, including the Liberty Broadband transaction, as stated in the Q3 FY2026 earnings release cash flow statement.

    $1.9B

22Governance signals

22Governance signals

What do Charter's governance filings show?

Auditor
KPMG LLP
Auditor changes
None in the period covered
Audit qualifications
None reported
Related-party dealings
Cox Enterprises and Advance/Newhouse are Charter's two largest holders and hold units in Charter Holdings, its operating partnership, that can be exchanged for Class A shares. Each may name up to 3 of the 13 directors. In the Cox deal Charter also paid $3.5 billion in cash for Cox's commercial fiber and IT business and $724 million in cash to Cox.
Credit rating
Charter's Q3 FY2026 10-Q, which names no agency, describes a split rating: investment grade for its secured notes, high yield for its unsecured notes (outlook not stated), Nov 6, 2026

A credit rating describes the company's ability to repay debt. It is not a rating of the share.

Flags to know about

  • other · Nov 6, 2026

    Two large holders with board seats and capped votes

    Cox Enterprises reported 28.7% and Advance/Newhouse 14.35% of Class A on an as-exchanged basis. Each may name up to 3 directors, and Cox's chief executive chairs the board. Their votes above 30% and 15% must be cast in line with public holders, except on certain matters.

  • shares as collateral · Mar 12, 2026

    CEO and a director used shares as collateral for loans

    The 2026 proxy says 91,615 shares held by CEO Christopher Winfrey's trust and Atalaya Management, LLC back securities-based loans of about $9.9 million, and director John D. Markley, Jr.'s 15,751 jointly held shares back a line of credit.

  • other · Oct 13, 2026

    Finance and commercial chiefs left in 2026

    CFO Jessica Fischer resigned on Aug 28, 2026, effective Oct 15, 2026, and Kevin D. Howard became interim CFO. Adam Ray stopped being Chief Commercial Officer on Oct 12, 2026.

  • disclosure · Mar 12, 2026

    Proxy ownership table is from before the Cox deal

    The 2026 proxy's ownership table is dated Feb 20, 2026, when Liberty Broadband held 29.07%. Holdings after Aug 19, 2026 come from Schedule 13D and 13G filings with different dates and bases.

  • disclosure · Nov 6, 2026

    Q3 FY2026 is not comparable with earlier quarters

    Q3 FY2026 includes Cox only from Aug 20, 2026, and customer counts were redefined in Q4 FY2025. Charter's pro forma figures, which include Cox in both years, are its own presentation, not reported results.

23What the market paid

23What the market paid · price as of Nov 5, 2026

What did the market pay for Charter on Nov 5, 2026?

Price as of Nov 5, 2026 (shown for education; prices change daily).

Price as of Nov 5, 2026: the Class A closing price on Nasdaq was $125.86. Market value = $125.86 × 114.45 million Class A shares on the Q3 FY2026 10-Q cover = $14,405 million (Cityfort calculation from the Nov 5, 2026 Nasdaq closing price and the Q3 FY2026 10-Q). It counts Class A shares only: Cox's and Advance/Newhouse's Charter Holdings units, which can be exchanged for Class A shares, are left out. For that reason no price-to-sales (P/S) or free cash flow yield is shown, since revenue and cash flow belong to the whole company. No P/E is shown either: net income over the four quarters to Sep 30, 2026 includes a $6,326 million pre-tax franchise impairment.

Share price
$125.86
Market value (market cap)
$14.4B

Source: CHTR historical quotes, Nasdaq (close Nov 5, 2026: $125.86); Form 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026); Earnings release, Q3 FY2026 (8-K Ex. 99.1)

24How it got here

24How it got here

How did Charter get here?

  1. 1993

    Milestone

    Charter founded

    Charter was founded in 1993, the FY2025 10-K says.

  2. 2016

    Business-model change

    Time Warner Cable and Bright House

    Charter merged with Time Warner Cable and received Bright House Networks from Advance/Newhouse, which became a large holder through Charter Holdings units.

  3. 2016

    Milestone

    Buybacks begin

    From Sep 2016 to Sep 30, 2026 Charter bought back about 188.1 million shares and units for about $80.6 billion.

  4. 2022

    Milestone

    Rural network build begins

    A subsidized rural build started in 2022. By Dec 31, 2025, $7.7 billion was spent and about 1.3 million rural passings (homes and businesses the network can serve) were activated.

  5. 2022

    Milestone

    Christopher Winfrey becomes CEO

    Winfrey became President and CEO in December 2022.

  6. 2025

    Business-model change

    Cox deal agreed

    On May 16, 2025 Charter agreed to combine with Cox Communications, valuing Cox at about $34.5 billion including $12.6 billion of net debt and other obligations.

  7. 2026

    Business-model change

    Cox and Liberty Broadband deals close

    On Aug 19, 2026 Charter combined with Cox and merged with Liberty Broadband, repurchasing the 38.6 million Charter shares Liberty held and issuing 33.9 million to Liberty's holders.

  8. 2026

    Crisis

    $6.3 billion franchise impairment

    Charter wrote down its cable franchises by $6,326 million in Q3 FY2026, linking it to a sustained decline in its stock price, and reported a $2,397 million net loss.

  9. 2026

    Milestone

    New operating model

    On Nov 6, 2026 Charter announced a new operating model with a target of $2 billion of annualized run-rate cost savings over 18 months.

25Sources and changes

Where every number on this page comes from

Sources (26 documents)
  1. S1Form 10-K, fiscal year 2025 (ended Dec 31, 2025) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 30, 2026
  2. S3Form 10-K, fiscal year 2023 (ended Dec 31, 2023) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 2, 2024
  3. S4Form 10-K, fiscal year 2022 (ended Dec 31, 2022) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 27, 2023
  4. S5Form 10-Q, Q3 FY2026 (quarter ended Sep 30, 2026) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 6, 2026
  5. S11Earnings release, Q3 FY2026 (8-K Ex. 99.1) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 6, 2026
  6. S12Earnings release, Q2 FY2026 (8-K Ex. 99.1) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jul 24, 2026
  7. S13Earnings release, Q1 FY2026 (8-K Ex. 99.1) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 24, 2026
  8. S14Earnings release, Q4 FY2025 (8-K Ex. 99.1) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 30, 2026
  9. S15Earnings release, Q3 FY2025 (8-K Ex. 99.1) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 31, 2025
  10. S16Earnings release, Q2 FY2025 (8-K Ex. 99.1) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jul 25, 2025
  11. S17Earnings release, Q1 FY2025 (8-K Ex. 99.1) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 25, 2025
  12. S18Earnings release, Q4 FY2024 (8-K Ex. 99.1) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 31, 2025
  13. S19Earnings release, Q3 FY2024 (8-K Ex. 99.1) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 1, 2024
  14. S20Proxy statement (DEF 14A), 2026 annual meeting · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 12, 2026
  15. S218-K (Item 7.01): Charter and Cox Communications announce agreement to combine (Ex. 99.1) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 16, 2025
  16. S228-K (Items 1.01, 2.01, 5.02, 5.03, 7.01): completion of the Cox Transactions and the Liberty Broadband merger (with Ex. 99.1) · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 20, 2026
  17. S238-K (Item 5.02): CFO Jessica Fischer resigns; Kevin D. Howard named interim CFO · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 31, 2026
  18. S248-K (Item 5.02): Adam Ray no longer EVP, Chief Commercial Officer · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 13, 2026
  19. S258-K (Items 5.02, 7.01): interim CFO compensation; Series A preferred dividend declared · Charter Communications, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 27, 2026
  20. S26Schedule 13D/A (Amendment No. 1): Cox Enterprises, Inc. and Cox Communications Equity Holdings, Inc. (event Sep 28, 2026) · SEC EDGAR (filed by the holder) · Tier 1: company or exchange filing · Sep 30, 2026
  21. S27Schedule 13D/A (Amendment No. 20): Advance/Newhouse Partnership and Newhouse entities (event Aug 19, 2026) · SEC EDGAR (filed by the holder) · Tier 1: company or exchange filing · Aug 20, 2026
  22. S28Schedule 13G/A: BlackRock, Inc. (as of Sep 30, 2026) · SEC EDGAR (filed by the holder) · Tier 1: company or exchange filing · Oct 27, 2026
  23. S29Schedule 13G/A: Vanguard Capital Management (as of Sep 30, 2026) · SEC EDGAR (filed by the holder) · Tier 1: company or exchange filing · Oct 30, 2026
  24. S30Schedule 13G/A: Dodge & Cox (as of Jun 30, 2026) · SEC EDGAR (filed by the holder) · Tier 1: company or exchange filing · Aug 13, 2026
  25. S31Schedule 13D/A: Liberty Broadband Corporation (event Aug 19, 2026; 0 shares after the merger) · SEC EDGAR (filed by the holder) · Tier 1: company or exchange filing · Aug 21, 2026
  26. S32CHTR historical quotes, Nasdaq (close Nov 5, 2026: $125.86) · Nasdaq, Inc. · Tier 1: company or exchange filing · Nov 5, 2026
Changes to this page (v1 · Nov 6, 2026)
  1. v1 · Nov 6, 2026First version. (first version)

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