Stock Analysis on Net

Charter Communications Inc. (NASDAQ:CHTR)

Price to FCFE (P/FCFE) 

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Free Cash Flow to Equity (FCFE)

Charter Communications Inc., FCFE calculation

US$ in millions

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income attributable to Charter shareholders 4,557 5,055 4,654 3,222 1,668
Net income attributable to noncontrolling interests 704 794 666 454 324
Net noncash charges 9,619 9,472 10,759 10,693 10,761
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions (447) (396) 160 193 (1,005)
Net cash flows from operating activities 14,433 14,925 16,239 14,562 11,748
Purchases of property, plant and equipment (11,115) (9,376) (7,635) (7,415) (7,195)
Purchases of wireless spectrum licenses (464)
Borrowings of long-term debt 22,062 25,643 20,976 15,754 19,685
Repayments of long-term debt (21,938) (19,311) (12,146) (12,094) (13,309)
Payments for debt issuance costs (32) (71) (102) (125) (103)
Free cash flow to equity (FCFE) 3,410 11,810 17,332 10,218 10,826

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Charter Communications Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Charter Communications Inc. FCFE decreased from 2021 to 2022 and from 2022 to 2023.

Price to FCFE Ratio, Current

Charter Communications Inc., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 145,225,459
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 3,410
FCFE per share 23.48
Current share price (P) 296.18
Valuation Ratio
P/FCFE 12.61
Benchmarks
P/FCFE, Competitors1
Alphabet Inc. 26.86
Comcast Corp. 11.94
Meta Platforms Inc. 24.62
Netflix Inc. 38.64
Walt Disney Co. 67.06
P/FCFE, Sector
Media & Entertainment 25.70
P/FCFE, Industry
Communication Services 22.79

Based on: 10-K (reporting date: 2023-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Charter Communications Inc., historical P/FCFE calculation, comparison to benchmarks

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Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 145,225,459 152,651,397 172,741,237 193,730,993 209,975,964
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 3,410 11,810 17,332 10,218 10,826
FCFE per share3 23.48 77.37 100.34 52.74 51.56
Share price1, 4 319.21 394.41 590.47 607.56 517.46
Valuation Ratio
P/FCFE5 13.59 5.10 5.88 11.52 10.04
Benchmarks
P/FCFE, Competitors6
Alphabet Inc. 25.65 22.91 29.75 26.58 32.39
Comcast Corp. 12.89 12.26 27.57 18.17 64.70
Meta Platforms Inc. 23.53 17.26 16.84 32.77 28.91
Netflix Inc. 35.64 176.91 81.38 116.48
Walt Disney Co. 55.51 18.20 55.35
P/FCFE, Sector
Media & Entertainment 24.49 21.69 26.52 25.86 32.46
P/FCFE, Industry
Communication Services 21.82 28.69 24.31 20.00 30.96

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 3,410,000,000 ÷ 145,225,459 = 23.48

4 Closing price as at the filing date of Charter Communications Inc. Annual Report.

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 319.21 ÷ 23.48 = 13.59

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Charter Communications Inc. P/FCFE ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.