Liberty Global Ltd. Class B Common Shares (LBTYB) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$0.84	$0.82	-2.4%	—	$1.3B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$20.9	—	—	$4.9B	—
FY24	—	$4.33	—	—	$4.3B	—
FY23	—	-$9.52	—	—	$7.5B	—
FY22	—	$3.01	—	—	$7.2B	—
FY21	—	$24.2	—	—	$10.3B	—
FY20	—	-$2.7	—	—	$11.5B	—
FY19	—	$16.3	—	—	$11.1B	—
FY18	—	-$1.97	—	—	$12B	—
FY17	—	-$2.86	—	—	$11.3B	—
FY16

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$13.7B	$11.3B	$12B	$11.1B	$11.5B	$10.3B	$7.2B	$7.5B	$4.3B	$4.9B
YoY change	-19.5%	-17.9%	+6.04%	-7.04%	+3.86%	-10.7%	-30.2%	+4.11%	-42%	+12.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	13.7B	11.3B	12B	11.1B	11.5B	10.3B	7.2B	7.5B	4.3B	4.9B
Cost of revenue	3.5B	3B	3.2B	3.1B	3.3B	3B	2.1B	2.4B	1.5B	1.7B
Gross profit	10.2B	8.3B	8.7B	8B	8.2B	7.3B	5.1B	5.1B	2.9B	3.2B
Gross margin	74.5%	73.6%	72.9%	71.8%	71.2%	70.7%	71%	68.2%	66.6%	65.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.5B	2B	2B	2B	2.1B	2.2B	1.6B	1.8B	1.2B	1.2B
Operating expenses	4.4B	3.6B	3.8B	3.6B	3.9B	3.6B	2.7B	3B	1.9B	2.1B
Operating income	1.7B	872.3M	1.1B	815.3M	2.1B	1.3B	231.9M	-176.6M	-10.5M	66.7M
Operating margin	12.3%	7.74%	9.09%	7.33%	18.4%	12.6%	3.22%	-2.36%	-0.24%	1.37%
Non-operating income, net	414.8M	-1.6B	553.2M	-673M	-2.7B	13.6B	1.7B	-2.9B	2.2B	-6.8B
Pretax income	243.3M	-2.1B	161.8M	-1.2B	-1.8B	14B	1.4B	-3.7B	1.8B	-7.2B
Income tax	-1.4B	238.9M	1.6B	234M	-275.9M	473.3M	318.9M	149.6M	-30.8M	-75.8M
Net income	1.8B	-2.7B	850M	11.6B	-1.5B	13.6B	2B	-3.9B	1.6B	-7.1B
Net margin	12.9%	-24.1%	7.11%	104.7%	-12.7%	132%	27.6%	-51.7%	37.9%	-145.5%
EBITDA	6.3B	4.6B	5B	4.3B	4.2B	14.6B	1.3B	344.8M	987.7M	-2B
EPS	-0.47	-2.86	-1.97	16.3	-2.7	24.2	3.01	-9.52	4.33	-20.9
Diluted EPS	-0.49	-2.86	-1.97	16.3	-2.7	23.6	2.96	-9.52	4.23	-20.9

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1.9B	1.9B	1.9B	1.9B	1.9B	-1.4B	1.2B	1.3B	1.2B	1.2B	1.3B	1.2B
Cost of revenue	586.3M	708.3M	672.1M	589.6M	591.6M	-402.6M	403.4M	465.3M	392.9M	408.9M	426.6M	375.4M
Gross profit	1.3B	1.2B	1.3B	1.3B	1.3B	-1B	767.8M	803.8M	814.2M	822.2M	848M	796.6M
Gross margin	68.4%	63.1%	65.4%	68.5%	69.4%	71.5%	65.6%	63.3%	67.5%	66.8%	66.5%	68%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	425.3M	485.1M	432.9M	442.2M	422.8M	-141.5M	288.3M	308.8M	311.5M	332.4M	301.8M	315.9M
Operating expenses	725.3M	722.8M	736.2M	728.9M	728.2M	-293.6M	476.6M	517.9M	524.3M	583.6M	518.6M	515.6M
Operating income	-41.1M	-144M	56.1M	23.8M	114.8M	-205.2M	59M	35.1M	14M	-41.4M	64.6M	18.5M
Operating margin	-2.22%	-7.5%	2.88%	1.27%	5.93%	14.5%	5.04%	2.77%	1.16%	-3.36%	5.07%	1.58%
Non-operating income, net	1.1B	-3.2B	765.9M	487.8M	-1.3B	2.4B	-1.3B	-2.7B	-41.5M	-2.7B	582.7M	-255.5M
Pretax income	821M	-3.5B	553.9M	335.9M	-1.4B	2.4B	-1.4B	-2.8B	-130.3M	-2.9B	533.6M	-335M
Income tax	-1.7M	-20.4M	26.9M	60.7M	900K	-119.3M	-70M	900K	-46.9M	40.2M	175.4M	22.8M
Net income	822.7M	-3.5B	527M	275.2M	-1.4B	2.3B	-1.3B	-2.8B	-83.4M	-2.9B	358.2M	-357.8M
Net margin	44.4%	-180.8%	27.1%	14.7%	-72.9%	-159.7%	-113%	-218.6%	-6.91%	-236.9%	28.1%	-30.5%
EBITDA	341.9M	-1.1B	572.3M	871.3M	1.1B	-744.2M	162.6M	54.4M	274.1M	-2.5B	332.7M	7.9M
EPS	1.58	—	1.35	0.72	-3.95	—	-3.84	-8.09	—	—	1.01	-1.07
Diluted EPS	1.57	—	1.32	0.71	-3.95	—	-3.84	-8.09	—	—	0.96	-1.07

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	28B	30.1B	16.4B	16B	—	15.6B	—	—	—	4B	4.1B
Enterprise value	64.4B	61.1B	44.7B	36.1B	—	28.5B	—	—	—	11.2B	11.2B
Shares outstanding	889.8M	847.9M	778.7M	705.8M	602.1M	555.7M	489.6M	425.7M	366.7M	342.3M	342.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	15.8	—	19.2	1.38	—	1.15	—	—	—	—	1.97
P/S	2.04	2.67	1.37	1.44	—	1.52	—	—	—	0.83	0.87
P/B	1.9	4.71	3.94	1.22	—	0.61	—	—	—	0.41	0.46
EV/EBITDA	10.2	13.2	8.97	8.44	—	1.95	—	—	—	-5.65	9.83
EV/Sales	4.69	5.42	3.74	3.25	—	2.77	—	—	—	2.3	2.3
Earnings yield	6.32%	—	5.2%	72.5%	—	87%	—	—	—	—	50.7%
FCF yield	15.7%	14.8%	27.6%	21.3%	—	13.7%	—	—	—	-3.26%	-12.4%
PEG	—	—	—	—	—	—	—	—	—	—	-0.02

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	74.5%	73.6%	72.9%	71.8%	71.2%	70.7%	71%	68.2%	66.6%	65.8%	68%
Operating margin	12.3%	7.74%	9.09%	7.33%	18.4%	12.6%	3.22%	-2.36%	-0.24%	1.37%	1.33%
Net margin	12.9%	-24.1%	7.11%	104.7%	-12.7%	132%	27.6%	-51.7%	37.9%	-145.5%	-62.1%
ROE	12%	-42.6%	20.5%	88.2%	-11%	53.2%	8.8%	-20.4%	13.1%	-71.4%	-26.5%
ROA	2.57%	-4.6%	1.6%	23.7%	-2.48%	29%	4.63%	-9.2%	6.47%	-31.4%	0.16%
ROIC	3.31%	2.33%	0%	2.45%	8.01%	3.27%	0.54%	-0.53%	-0.05%	0.39%	0.35%
Return on tangible assets	5.95%	-9.97%	3.59%	58.8%	-4.39%	58.7%	10.1%	-22.8%	9.94%	-55%	-24.6%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.73	0.43	0.4	1.22	1.29	1.45	1.61	1.3	1.05	1.08	1.28
Quick ratio	0.73	0.43	0.4	1.22	1.29	1.45	1.61	1.3	1.05	1.08	1.28
Debt / equity	2.55	5.11	7.18	2.14	1.22	0.63	0.68	0.92	0.78	0.94	0.99
Debt / assets	0.55	0.55	0.56	0.57	0.27	0.34	0.36	0.41	0.38	0.41	0.42
Net debt / EBITDA	5.74	6.71	5.69	4.69	3.17	0.88	8.71	40.6	7.72	-3.62	-3.57
Interest coverage	1.13	-0.49	1.11	0.1	-0.52	16.9	3.42	-3.1	4.2	-13.4	-4.97
Effective tax rate	0%	0%	100%	0%	0%	3.38%	22.4%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	15.4	13.3	15.4	15.7	19.2	18.6	14.7	17.6	11.8	14.3	14.5
EPS (basic)	-0.47	-2.86	-1.97	16.3	-2.7	24.2	3.01	-9.52	4.33	-20.9	-20.9
EPS (diluted)	-0.49	-2.86	-1.97	16.3	-2.7	23.6	2.96	-9.52	4.23	-20.9	-9.03
Book value per share	16.6	7.54	5.33	18.7	22.1	46.1	46.1	44.7	34.2	29.1	27
FCF per share	4.95	5.26	5.79	4.84	4.8	3.85	3.13	1.83	3.07	-0.39	-0.75
Cash per share	1.21	1.97	1.9	11.5	4.86	5.72	8.88	8	5.87	6.3	7.49
Capex per share	—	—	—	—	—	—	—	—	—	3.92	4.49

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	27.5%	31.2%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	110.9%	120%
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Yield

—

trailing twelve months

Frequency

—

Last dividend

$5.1464

ex-dividend Sep 7, 2005

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 7, 2005	$5.1464

Split history

Date	Ratio
Jun 21, 2016	9:8
Mar 4, 2014	1948:1000

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1.9B	$1.9B	$1.9B	$1.9B	$1.9B	-$1.4B	$1.2B	$1.3B	$1.2B	$1.2B	$1.3B	$1.2B
YoY change	+6.2%	+4.27%	+4.11%	+1.39%	+4.35%	-173.5%	-39.8%	-32.3%	-37.6%	+187.2%	+8.83%	-7.65%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	1.1B	1.7B	1.5B	8.1B	2.9B	3.2B	4.3B	3.4B	2.2B	2.2B
Receivables	1.4B	1.4B	1.3B	1.4B	1.1B	907.3M	830.6M	870.1M	449.8M	558.2M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	7.1B	4.3B	4.1B	10.6B	5.8B	5.9B	6.3B	5.6B	3.3B	3.4B
Property, plant & equipment	26.5B	23.3B	23B	23.5B	13.9B	7B	6.5B	7.4B	4.3B	5.3B
Goodwill & intangibles	39B	31.9B	29.5B	29.2B	25.7B	23.7B	23.3B	25.1B	8.9B	9.7B
Total assets	68.7B	59.2B	53.2B	49B	59.1B	46.9B	42.9B	42.1B	25.4B	22.6B
Accounts payable	954.5M	926M	874.3M	963.9M	579.1M	613.4M	610.1M	689.8M	371.2M	478.7M
Short-term debt	2.6B	3.7B	3.6B	3.9B	1.1B	850.3M	799.7M	806.8M	898.5M	764M
Total current liabilities	9.7B	10B	10.3B	8.7B	4.5B	4.1B	3.9B	4.3B	3.1B	3.2B
Long-term debt	34.9B	29B	26.2B	24.3B	15.1B	15.2B	14.6B	16.6B	8.9B	8.6B
Total liabilities	54B	51.2B	49B	35.8B	45.8B	21.3B	20.3B	23.1B	12.9B	12.7B
Shareholders' equity	14.7B	6.4B	4.1B	13.2B	13.3B	25.6B	22.6B	19B	12.5B	9.9B
Total debt	37.5B	32.6B	29.8B	28.2B	16.2B	16.1B	15.4B	17.4B	9.8B	9.3B
Net debt	36.4B	31B	28.3B	20B	14.9B	15.1B	13.7B	16B	8B	7.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	3.3B	3.4B	2.8B	3.2B	3.3B	2.2B	2B	3.1B	1.7B	2.2B	1.9B	2.4B
Receivables	825.1M	870.1M	858.6M	858.8M	863.4M	449.8M	483.8M	570.3M	518.3M	558.2M	523.2M	521.2M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	5.4B	5.6B	4.9B	5.4B	5.2B	3.3B	3.1B	4.4B	2.8B	3.4B	3.1B	3.5B
Property, plant & equipment	8.7B	7.4B	10.5B	9.3B	9.8B	4.3B	4.6B	5.1B	5.2B	5.3B	6.1B	6.2B
Goodwill & intangibles	23.6B	25.1B	23.5B	23.1B	24.2B	8.9B	9.3B	10B	10B	9.7B	9.5B	9.4B
Total assets	42.7B	42.1B	40.6B	40.8B	41.8B	25.4B	26B	27.2B	25.4B	22.6B	21.9B	21.5B
Accounts payable	585.8M	689.8M	537.3M	514.9M	560.6M	371.2M	361.1M	454.5M	404.2M	478.7M	441.7M	443M
Short-term debt	633.3M	806.8M	737.8M	771.4M	999.3M	898.5M	1.1B	2B	678.5M	764M	703.8M	620.4M
Total current liabilities	3.7B	4.3B	3.8B	4B	4.4B	3.1B	3.3B	4.3B	2.9B	3.2B	2.8B	2.7B
Long-term debt	16.1B	16.6B	16.7B	16.6B	16.9B	8.9B	8.9B	8.5B	8.6B	8.6B	8.5B	8.5B
Total liabilities	21.8B	23.1B	22.2B	22.5B	23.1B	12.9B	13.1B	14B	12.4B	12.7B	12.1B	12.1B
Shareholders' equity	20.8B	19B	18.4B	18.3B	18.7B	12.5B	12.8B	13.2B	13B	9.9B	9.7B	9.5B
Total debt	16.7B	17.4B	17.4B	17.4B	17.9B	9.8B	10.1B	10.5B	9.2B	9.3B	9.2B	9.1B
Net debt	15B	16B	16.3B	15.4B	15.5B	8B	8.1B	8.7B	7.6B	7.3B	7.3B	6.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.7B	-2.4B	-1.4B	-1.5B	-1.5B	13.5B	1.1B	-3.9B	1.9B	-7.1B
Depreciation & amortization	4.1B	3.8B	3.9B	3.5B	2.2B	2.4B	2.2B	2.3B	1B	1B
Stock-based compensation	268.1M	162.2M	206M	305.8M	348M	308.1M	192.1M	231M	168.3M	169.4M
Change in working capital	362.8M	466.1M	635.4M	877M	947.3M	707.1M	796.3M	1.3B	410.5M	216.6M
Operating cash flow	4.5B	2.2B	3.8B	3.4B	1.8B	17.2B	4.5B	-42.9M	3.3B	1.2B
Capital expenditure	—	—	—	—	—	—	—	—	—	-1.3B
Investing cash flow	-4.5B	487.1M	2.1B	10.8B	-7.5B	-4.3B	2.1B	-1.3B	1.8B	-883.9M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-2B	-3B	-2.3B	-3.3B	-1.1B	-1.6B	-1.7B	-2.5B	-689.8M	-192.1M
Financing cash flow	1.3B	-4.5B	-6.3B	-6.9B	1.1B	-1.5B	-3.3B	-692.4M	-806.2M	-226.1M
Net change in cash	1.4B	-1.8B	-449.5M	7.2B	-4.6B	11.4B	3.3B	-2B	4.3B	101.1M
Free cash flow	4.4B	4.5B	4.5B	3.4B	2.9B	2.1B	1.5B	779.9M	1.1B	-132M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	822.7M	-3.5B	527M	167.7M	-1.6B	2.5B	-1.3B	-2.8B	-83.4M	-2.9B	358.2M	-357.8M
Depreciation & amortization	584M	633.4M	480.7M	789.4M	1B	-510.7M	232.2M	250.8M	275.9M	280M	264.8M	262.5M
Stock-based compensation	54.8M	56.6M	44.6M	55.1M	64.6M	21.3M	33.4M	49.4M	46.6M	40M	37.1M	43.9M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	1.1B	-2.5B	1.1B	1B	-519.5M	1.8B	-1.1B	-2.5B	301.8M	630.9M	107.6M	230.9M
Capital expenditure	—	—	—	—	—	—	—	—	-342.9M	-437.6M	-397.6M	-347.9M
Investing cash flow	436M	-508.8M	139.1M	812.3M	363.2M	525.5M	295.8M	19.9M	-324.8M	-204.5M	-162.1M	281.1M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-1.4B	-468.6M	-176.3M	-170.2M	-171.2M	-172.1M	-37.9M	-64.1M	-56.2M	-33.9M	0	0
Financing cash flow	-638.1M	-349.3M	-284M	-232.6M	-210.5M	-156M	-66.2M	-124.8M	-82.4M	47.3M	-114M	-22.1M
Net change in cash	850.2M	-3.3B	928.6M	1.6B	-366.8M	2.2B	-910.2M	-2.6B	-105.4M	473.7M	-168.5M	489.9M
Free cash flow	-700K	469.4M	-105.1M	112.1M	-146.6M	870.3M	-114.1M	-170.1M	-41.1M	193.3M	-290M	-117M

Liberty Global Ltd. Class B Common Shares Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement