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Sign in to unlockFair Value Distribution — percentile bands
100.0% of simulations place fair value above current price
WHAT IS PRICED IN
FCF-Based Reverse DCF
17.4%/yr
±3.1% · FCF growth to justify current price
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Sign in to unlockCox + Liberty Broadband integration creates the largest US cable operator with unmatched fiber scale, driving ARPU expansion and cost synergies. Fiber penetration runway massive — 55% of footprint yet to upgrade. FCF re-acceleration post-CapEx peak.
M&A integration risk is real (B combined deal complexity). Video subscriber decline accelerates beyond model. Leverage 4.8x constrains optionality if execution stumbles. Interest rate sensitivity on refi.
Cox/Liberty merger blocked or collapses; video churn >30% in any quarter; leverage rises above 5.5x
Updated Mar 16
Video decline offset by Internet/mobile growth. Fiber network evolution on track. Large M&A deals pending with elevated debt but strategic rationale clear.