Liberty Global plc
- Open
- 10.47
- Day high
- 10.47
- Day low
- 10.24
- Prev close
- 10.41
- Volume
- 1.5M
- Mkt cap
- $3.5B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.4
- P/S
- 0.7
- Yield
- —
- Per share
- —
Liberty Global plc (LBTYA) is a Communication Services company listed on NASDAQ. The stock is up 2% over the past year.
Liberty Global plc (LBTYA) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LBTYA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $-0.35 | $0.96 | +372.0% | $1.3B | -0.8% |
| Feb 18, 2026 | $-0.46 | $-8.60 | -1769.6% | $1.2B | +0.1% |
| Oct 30, 2025 | $1.45 | $-0.27 | -118.6% | $1.2B | -1.1% |
| Aug 1, 2025 | $-0.62 | $-8.09 | -1204.8% | $1.3B | +4.1% |
| May 2, 2025 | $-0.60 | $-3.84 | -540.0% | $1.2B | +6.5% |
| Feb 18, 2025 | $-1.11 | $6.33 | +670.3% | $-1.4B | -188.2% |
| Jul 25, 2024 | $-0.73 | $0.71 | +197.3% | $1.9B | -1.9% |
| May 1, 2024 | $-0.50 | $1.32 | +364.0% | $1.9B | +3.8% |
| Feb 15, 2024 | $-0.35 | $-8.23 | -2251.4% | $1.9B | +3.8% |
| Oct 31, 2023 | $-0.15 | $1.57 | +1146.7% | $1.9B | -2.4% |
| Jul 24, 2023 | $-0.24 | $-1.13 | -370.8% | $1.8B | -2.7% |
| Mar 24, 2023 | $-0.11 | $-5.06 | -4500.0% | $1.8B | +3.2% |
LBTYA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Feb 14, 2025 | Tompras Nicholas V.10 percent owner | Buy | 16,562 | $12.04 |
| Jan 12, 2024 | GOULD PAUL Adirector | Sell | 50,000 | $19.79 |
| Nov 17, 2023 | CURTIS MIRANDAdirector | Sell | 31,200 | $16.20 |
| Nov 6, 2023 | ROMRELL LARRY Edirector | Sell | 26,000 | $17.55 |
| Sep 22, 2023 | BRACKEN CHARLES H Rofficer: EVP & CFO | Sell | 47,577 | $19.64 |
| Sep 22, 2023 | BRACKEN CHARLES H Rofficer: EVP & CFO | Sell | 5,000 | $18.27 |
| Sep 13, 2023 | Waldron Jasonofficer: SVP & CAO | Sell | 4,196 | $17.84 |
| Sep 13, 2023 | Waldron Jasonofficer: SVP & CAO | Sell | 8,310 | $19.20 |
| Sep 13, 2023 | Waldron Jasonofficer: SVP & CAO | Sell | 1,580 | $19.41 |
| Sep 13, 2023 | Waldron Jasonofficer: SVP & CAO | Sell | 9,714 | $19.46 |
| Sep 13, 2023 | Waldron Jasonofficer: SVP & CAO | Sell | 749 | $18.14 |
| Sep 1, 2023 | HALL BRYAN Hofficer: EVP, Gen Counsel & Secretary | Sell | 5,000 | $19.82 |
| Aug 25, 2023 | Salvato Andreaofficer: EVP, Chief Development Officer | Sell | 50,000 | $18.93 |
| Aug 25, 2023 | HALL BRYAN Hofficer: EVP, Gen Counsel & Secretary | Sell | 10,600 | $18.92 |
| Jul 20, 2023 | DREW MARISA Ddirector | Option | 1,799 | — |
Source: LBTYA SEC Form 4 filings, latest Feb 14, 2025. For informational purposes only — not investment advice.
See the full LBTYA insider & 13F page →Liberty Global plc company profile
Overview
Liberty Global plc (NASDAQ:LBTYA) is a leading European telecommunications and broadband services company founded in 2004 and headquartered in London, United Kingdom. The company operates across multiple European markets including the United Kingdom, Netherlands, Belgium, Switzerland, Ireland, Poland, and Slovakia, serving approximately 80 million fixed and mobile connections. Liberty Global has evolved through strategic acquisitions and joint ventures, creating major telecom operations such as Virgin Media O2 in the UK, VodafoneZiggo in the Netherlands, and Telenet in Belgium. The company has undergone significant portfolio transformation in recent years, including the spin-off of its Swiss subsidiary Sunrise in 2024 and various asset sales as part of its value creation strategy.
Business
Liberty Global operates as a telecommunications infrastructure and services provider in the European market, delivering integrated fixed-mobile convergence (FMC) services to residential and business customers. The telecommunications industry involves providing essential communication services including internet access, television programming, telephone services, and mobile communications through physical network infrastructure. The company's core offerings include broadband internet services with speeds up to 2.5 gigabits through hybrid fiber-coaxial (HFC) and fiber-to-the-home (FTTH) networks, comprehensive digital television packages featuring entertainment, sports, movies, and international channels, fixed-line telephony services with advanced features like unified messaging, and mobile communications services including both postpaid and prepaid plans with 5G capabilities. Liberty Global's business is organized around several key operating segments: 1. **Virgin Media O2 (UK)** - The largest operation representing approximately 40-45% of total revenue, formed through a joint venture with Telefónica, serving both residential and business customers with integrated fixed-mobile services and operating the nexfibre fiber network expansion project. 2. **VodafoneZiggo (Netherlands)** - A joint venture with Vodafone accounting for roughly 25-30% of revenue, providing comprehensive telecommunications services and investing in DOCSIS 4.0 network upgrades. 3. **Telenet (Belgium)** - Contributing approximately 20-25% of revenue, offering fixed-mobile convergence services and developing wholesale network infrastructure through partnerships. 4. **Additional Markets** - Including operations in Ireland, Poland, and Slovakia representing the remaining 5-10% of revenue. The company also operates a ventures portfolio valued at approximately $3 billion, including investments in digital infrastructure (Atlas Edge), sports entertainment (Formula E), and various technology platforms, alongside a services platform generating nearly $600 million in annual revenue through business-to-business solutions.
Revenue model
Liberty Global generates revenue through multiple complementary streams within its telecommunications operations. The primary revenue model is subscription-based services where residential and business customers pay monthly fees for bundled packages combining broadband internet, television programming, telephony, and mobile services. Average revenue per user (ARPU) varies by market but typically ranges from €40-60 monthly for residential customers, with business customers generating higher per-unit revenues. The company's mobile services generate revenue through monthly subscription fees for postpaid plans and usage-based charges for prepaid services, with additional income from device sales and insurance products. Business services contribute higher-margin revenue through enterprise solutions including cloud services, advanced data connectivity, and managed IT services sold to small, medium, and large enterprises. Content and advertising revenue comes from television advertising sales, premium channel subscriptions, and video-on-demand services, while the company also generates wholesale revenue by providing network access to other telecommunications operators and mobile virtual network operators (MVNOs). Several factors significantly impact Liberty Global's profitability margins. Positive margin drivers include successful price indexation adjustments that help offset inflation, growing demand for higher-speed broadband services that command premium pricing, increasing mobile service adoption which typically carries higher margins than fixed services, and operational efficiency improvements through AI implementation and process automation expected to generate $200-300 million in annual benefits. Negative margin pressures stem from intense competitive dynamics, particularly from alternative network (altnet) providers in the UK and aggressive promotional activity across European markets. Rising content costs for sports and entertainment programming, substantial ongoing capital expenditure requirements for fiber network expansion and 5G deployment, regulatory pressures including potential wholesale access requirements, and macroeconomic factors such as energy cost inflation and consumer spending constraints also compress margins. The company faces additional pressure from cord-cutting trends as consumers shift toward streaming services, though this is partially offset by increased broadband demand.
Competitive moat
Liberty Global possesses a moderate but diminishing competitive moat primarily built around its extensive physical network infrastructure and market positioning. The company's strongest defensive characteristics include its substantial network assets representing billions in invested capital that create high barriers to entry, particularly the hybrid fiber-coaxial (HFC) networks and growing fiber-to-the-home infrastructure that competitors cannot easily replicate. The company benefits from economies of scale in content procurement, network operations, and customer service that smaller competitors struggle to match. Its integrated fixed-mobile convergence offerings create customer stickiness through bundled services that increase switching costs, while established relationships with content providers and wholesale customers provide additional defensive positioning. However, Liberty Global's moat faces significant erosion from multiple directions. Technological disruption threatens the traditional cable model as fiber networks offer superior performance and alternative network providers (altnets) continue aggressive expansion, particularly in the UK market. The company acknowledges that many altnet competitors operate unsustainable business models, but their promotional pricing creates immediate competitive pressure. Regulatory challenges pose ongoing risks, including potential requirements for wholesale network access that could commoditize infrastructure investments and reduce pricing power. The shift toward streaming services and over-the-top content delivery bypasses traditional television distribution, reducing the value proposition of bundled services. Market saturation in mature European telecommunications markets limits organic growth opportunities, while intense price competition from both traditional telecom operators and new entrants pressures margins. The company's joint venture structures with partners like Telefónica and Vodafone, while providing scale benefits, also limit strategic flexibility and complicate decision-making processes. Overall, while Liberty Global maintains competitive advantages through its infrastructure assets and scale, the moat is under sustained pressure from technological change, regulatory evolution, and intensifying competition, requiring continuous capital investment and strategic adaptation to maintain market position.
Risks & safety
Liberty Global presents a **moderate margin of safety** with mixed financial health indicators requiring careful monitoring of leverage and cash flow sustainability. **Liquidity and Solvency:** - Strong cash position of $1.8 billion as of Q1 2025 - Positive operating cash flow of $129 million in Q1 2025, though down significantly from prior periods - Free cash flow of $129 million in Q1 2025, substantially lower than historical levels - Current ratio of 1.05, indicating tight but adequate short-term liquidity - No major debt maturities until 2028, providing refinancing flexibility **Leverage Concerns:** - Debt-to-equity ratio of 0.78, representing significant but manageable leverage - Total liabilities of $13.1 billion against current assets of $3.3 billion - Company targets 4x-5x EBITDA leverage, currently operating within this range - Recent negative EBITDA of -$1.16 billion in Q1 2025 raises leverage calculation concerns **Valuation Metrics:** - Trading at 0.33x book value, suggesting potential undervaluation - Negative P/E ratio due to recent losses, limiting traditional valuation assessment - EV/EBITDA multiple distorted by negative EBITDA - Graham net-net value significantly negative at -$35.80, indicating asset coverage concerns **Other Considerations:** - Committed to $500-750 million non-core asset sales in 2025 to manage leverage - Substantial ventures portfolio valued at $3 billion provides additional liquidity options - Ongoing capital expenditure requirements for network upgrades may pressure cash flow - Joint venture structures limit direct control over major operations but provide risk sharing
Recent development
Liberty Global has undergone significant strategic transformation over the past few years, focusing on portfolio optimization and value creation initiatives. The company completed the spin-off of Sunrise, its Swiss telecommunications subsidiary, in late 2024, distributing approximately $12 per share to Liberty Global shareholders and allowing management to concentrate on core European markets. A major strategic pivot involves infrastructure monetization through NetCo/ServCo separation models. In the UK, Liberty Global is working with joint venture partner Telefónica to create separate network infrastructure companies that can attract wholesale customers and potentially different investor valuations. Similar initiatives are underway in Belgium through partnerships with Proximus and Orange, while the Netherlands operation has committed to DOCSIS 4.0 network upgrades rather than full fiber deployment. The company has accelerated network infrastructure investments, particularly fiber expansion reaching 80% of the Irish footprint by year-end 2025 and continued 5G deployment across all markets. The nexfibre joint venture in the UK has reached 5 million homes passed, representing a significant milestone in the fiber-to-the-home strategy. Operational efficiency initiatives have become increasingly important, with management implementing AI and machine learning technologies expected to generate $200-300 million in annual benefits. VodafoneZiggo brought in new leadership under CEO Stephen van Rooyen to drive organizational restructuring and pricing strategy realignment. The company has pursued an active capital allocation strategy including $700 million in share buybacks during 2024, with commitments to continue 10% annual buyback programs. Asset sales have accelerated with $650 million completed in the first half of 2024 and targets of $500-750 million in additional non-core asset disposals during 2025. Portfolio diversification continues through the ventures platform, with increased stakes in Formula E (from 38% to 66%) and continued investments in digital infrastructure through Atlas Edge. The services platform has grown to nearly $600 million in annual revenue, providing additional business-to-business growth opportunities beyond traditional consumer telecommunications services.
LBTYA company profile · for informational purposes only — not investment advice.
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