olivLaw · US equity research
Cable One, Inc. CABO
Cable & Other Pay Television Services · SIC 4841 · Vertical: Cable & Other Pay Television Services (SIC 4841)
Cable One is a broadband provider in the United States serving residential and business customers in non-metropolitan markets under the Sparklight brand. The business is shifting toward data, and in the second quarter of 2026 revenues were 348.9 million USD, down 8.4% year over year.
At the close of 04 Nov 2026, Cable One, Inc. (CABO) stock was 5.26 USD (+8.01% on the day), with market capitalisation 29.8 m USD, dividend yield 56.08%, beta 0.70, 52-week range 4.48–143.42 USD. Latest reported quarter (Q2 2026): revenue of 348.9 m USD (−8.4% YoY), net income of -1.2 bn USD, diluted EPS -204.35 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 31.3
- weak (30–45)
- Bollinger (20, 2)
- 1.33 – 13.17
- in the lower half of the band · %B 0.33 · band width 163.3%
- SMA 50 / 200
- 14.13 / 55.78
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -2.75 / -3.17
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −53.2% | −1.1% | −52.1 pp | — |
| 3 months | −87.9% | −0.5% | −87.4 pp | — |
| 6 months | −90.6% | +4.4% | −95.0 pp | — |
| Year to date | −95.3% | +12.3% | −107.7 pp | — |
| 1 year | −96.3% | +13.5% | −109.9 pp | −11.5% |
| 3 years | −99.1% | +76.4% | −175.5 pp | −1.7% |
| 5 years | −99.7% | +63.7% | −163.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 393.6 m | 387.2 m | 380.6 m | 381.1 m | 376.0 m | 363.7 m | 353.0 m | 348.9 m |
| SG&A | 88.4 m | 96.4 m | 95.4 m | 92.0 m | 100.8 m | 92.9 m | 87.2 m | 87.6 m |
| Operating income | 110.3 m | 101.6 m | 95.7 m | -489.3 m | 94.7 m | 91.6 m | 86.6 m | -524.9 m |
| Depreciation & amortisation | 85.2 m | 85.6 m | 85.5 m | 86.1 m | 83.3 m | 83.6 m | 82.5 m | 81.8 m |
| Interest expense | 34.2 m | 33.0 m | 34.5 m | 33.9 m | 32.0 m | 29.6 m | 30.3 m | 33.7 m |
| Pre-tax income | 81.3 m | 11.3 m | 59.8 m | -534.6 m | 134.5 m | 33.9 m | 79.3 m | -990.2 m |
| Income tax | 15.9 m | -22.3 m | 203.0 k | -117.6 m | 25.8 m | 3.7 m | 19.4 m | -109.5 m |
| Net income | 44.2 m | -105.2 m | 2.6 m | -438.0 m | 86.5 m | -7.6 m | 35.8 m | -1.2 bn |
| Diluted EPS | 7.58 | -23.70 ≈ | 0.46 | -77.70 | 14.52 | -1.35 ≈ | 6.12 | -204.35 |
| Operating cash flow | 176.2 m ≈ | 167.6 m | 116.3 m | 144.9 m ≈ | 156.5 m ≈ | 145.5 m | 118.2 m | 120.9 m ≈ |
| Capex | 77.0 m ≈ | 71.9 m | 71.1 m | 68.4 m ≈ | 71.8 m ≈ | 74.0 m | 68.4 m | 74.0 m ≈ |
| Dividends paid | 17.0 m ≈ | 16.9 m | 17.2 m | 0 ≈ | 0 ≈ | 0 | 0 | 0 ≈ |
| Share repurchases | 0 ≈ | 0 | — | — | — | — | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.1 bn | 1.2 bn | 1.3 bn | 1.6 bn | 1.7 bn | 1.7 bn | 1.6 bn | 1.5 bn |
| Revenue YoY | +11.7% | +8.9% | +13.5% | +21.2% | +6.2% | −1.6% | −5.9% | −4.9% |
| Net income | 164.8 m | 178.6 m | 304.4 m | 291.8 m | 213.1 m | 224.6 m | 14.5 m | -356.5 m |
| Net income YoY | −29.9% | +8.4% | +70.4% | −4.1% | −27.0% | +5.4% | −93.6% | −2,561.7% |
| Diluted EPS | 28.77 | 31.12 | 51.27 | 46.49 | 34.73 | 38.08 | 2.57 | -63.21 |
| Diluted EPS YoY | −29.7% | +8.2% | +64.7% | −9.3% | −25.3% | +9.6% | −93.3% | −2,559.5% |
| net % | 15.4% | 15.3% | 23.0% | 18.2% | 12.5% | 13.4% | 0.9% | -23.7% |
| Free cash flow | 190.0 m | 229.4 m | 281.1 m | 312.4 m | 323.9 m | 292.1 m | 377.8 m | 278.1 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 152.8 m USD
- Financial debt
- 3.8 bn USD
- Net debt
- 3.6 bn USD
- Equity
- 1.4 bn USD
- Total assets
- 5.6 bn USD
- Debt / equity
- 2.65x
- Current ratio
- 0.40x
- ROE
- -22.1%
- ROA
- -5.9%
- FCF margin
- 18.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.3 bn | 1.6 bn | 1.7 bn | 1.7 bn | 1.6 bn | 1.5 bn | SEC (XBRL)· 26 Feb 2026verified |
| SG&A | 255.2 m | 347.1 m | 350.3 m | 354.7 m | 366.0 m | 381.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | 469.4 m | 456.6 m | 539.0 m | 526.9 m | 441.9 m | -207.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Depreciation & amortisation | 265.7 m | 339.0 m | 350.5 m | 342.9 m | 341.8 m | 338.5 m | SEC (XBRL)· 26 Feb 2026verified |
| EBITDA | 735.0 m ≈ | 795.6 m ≈ | 889.5 m ≈ | 869.8 m ≈ | 783.6 m ≈ | 131.2 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Interest expense | 73.6 m | 113.4 m | 137.7 m | 170.1 m | 138.0 m | 130.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | 379.3 m | 337.1 m | 375.4 m | 411.4 m | 244.2 m | -306.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | 76.3 m | 45.8 m | 119.7 m | 72.8 m | 25.2 m | -87.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | 304.4 m | 291.8 m | 213.1 m | 224.6 m | 14.5 m | -356.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | 51.27 | 46.49 | 34.73 | 38.08 | 2.57 | -63.21 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 5.9 m | 6.4 m | 6.3 m | 6.1 m | 5.6 m | 5.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividend per share | — | 10.50 | 11.20 | 11.60 | 11.80 | 2.95 | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 574.9 m | 388.8 m | 215.2 m | 190.3 m | 153.6 m | 152.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Receivables | 32.8 m | 41.9 m | 49.0 m | — | — | — | SEC (XBRL)· 24 Feb 2023verified |
| Inventories | — | 0 | — | — | — | — | SEC (XBRL)· 04 Nov 2022verified |
| Current assets | 672.8 m | 501.0 m | 346.7 m | 342.4 m | 279.2 m | 306.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 1.3 bn | — | — | — | — | — | SEC (XBRL)· 26 Feb 2021verified |
| Goodwill | 430.5 m | 967.9 m | 928.9 m | 928.9 m | 929.6 m | 840.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.3 bn | 2.9 bn | 2.7 bn | 2.6 bn | 2.5 bn | 2.0 bn | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 4.5 bn | 7.0 bn | 6.9 bn | 6.8 bn | 6.5 bn | 5.6 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 174.1 m | 203.4 m | 39.6 m | 45.0 m | 31.9 m | 28.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Short-term debt | 26.4 m | 38.8 m | 55.9 m | 19.0 m | 18.7 m | 593.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 2.2 bn | 3.9 bn | 3.8 bn | 3.7 bn | 3.6 bn | 3.2 bn | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 221.6 m | 269.1 m | 244.2 m | 202.8 m | 213.9 m | 759.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 3.0 bn | 5.2 bn | 5.1 bn | 5.0 bn | 4.7 bn | 4.2 bn | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 1.5 bn † | 1.8 bn † | 1.7 bn † | 1.8 bn † | 1.8 bn † | 1.4 bn † | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 574.4 m | 704.3 m | 738.0 m | 663.2 m | 664.1 m | 563.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 293.2 m | 391.9 m | 414.1 m | 371.0 m | 286.4 m | 285.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | 281.1 m ≈ | 312.4 m ≈ | 323.9 m ≈ | 292.1 m ≈ | 377.8 m ≈ | 278.1 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -954.9 m | -2.5 bn | -448.3 m | -341.9 m | -564.4 m | -154.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | 830.2 m | 1.6 bn | -463.4 m | -346.1 m | -136.3 m | -410.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividends paid | 56.6 m | 63.5 m | 66.3 m | 66.3 m | 67.9 m | 17.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | 0 | 0 | 353.3 m | 99.6 m | 0 | 0 | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 18 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 29.8 m USD
Key indicators
Coverage and freshness
Score by group
- Valuation44
- Balance sheet0
- Quality7
- Growth0
- Returns40
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 38.77 – 4,471.72 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)863.44 – 4,471.72 (Mid 1,620.04)WACC 5.1% · starting FCFF 358.5 m USD · terminal value share of EV 88%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDAunavailable · insufficient data
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)38.77 – 52.13 (Mid 44.47)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 18/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -5.0% | 11 (vs peers) | 14% |
| Net margin · Quality | -72.8% | 0 (vs peers) | 8% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -4.2% | 0 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 36.7x | 0 (vs peers) | 14% |
| Interest coverage · Balance sheet | -2.0x | 0 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 0.5x | 0 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 37.1x | 0 (on a fixed band) | 14% |
| FCF yield · Valuation | 847.6% | 100 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | 0.0% | 0 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | 0.0% | 100 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 3/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality7/100 · 2/3 factors with a value
- Returns40/100 · 2/2 factors with a value
- Valuation44/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Cable One, Inc. (CABO). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.5 bn USD in 2025; YoY growth -4.9%; net margin -72.8%; ROE -126.2%; net debt/EBITDA 36.7x.
The estimated value range is 451.10–2,261.93 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 832.25 USD, the price of 5.26 USD leaves a potential of 15,722.3% (value / price − 1) and a margin of safety of 99.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 18/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF yield: 847.6%
- Payout ratio (FCF): 0.0%
- The price is below the estimated value range
What contradicts it
- ROIC: -5.0%
- Net margin: -72.8%
- Revenue CAGR 3Y: -4.2%
- Net debt / EBITDA: 36.7x
- Interest coverage: -2.0x
- Current ratio: 0.5x
- EV/EBITDA: 37.1x
- Shareholder yield (distributions): 0.0%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, P/E (TTM).
Versus the vertical median
Cable & Other Pay Television Services (SIC 4841) · same industry (4-digit SIC) · compared with 12 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| WBDWarner Bros. Discovery, Inc. | 77.7 bn | — | -9.2% | -8.8% | −5.1% | unavailable / unavailable |
| CHTRCharter Communications, Inc. | 32.6 bn | 3.1 | 29.7% | 9.1% | −0.6% | −40% / −70% |
| ROKURoku, Inc. | 24.1 bn | 48.2 | 18.2% | 9.3% | +15.2% | +68% / +56% |
| ADEAAdeia Inc. | 1.9 bn | 16.6 | 25.9% | 25.0% | +17.9% | +37% / +84% |
| OPTUOptimum Communications, Inc. | 188.1 m | — | — | -58.1% | −4.1% | −64% / −70% |
| PAAIThe Arena Group Holdings, Inc. | 43.8 m | 4.8 | — | 9.3% | +698.2% | −78% / −60% |
| CABOCable One, Inc. | 29.8 m | — | -126.2% | -72.8% | −4.9% | −96% / −99% |
| GLIBALiberty Capital Corp | — | — | -21.0% | -32.5% | +3.0% | −31% / unavailable |
| LBTYALiberty Global Ltd. | — | — | -22.3% | -44.4% | +12.4% | −16% / +16% |
| CCZComcast Corporation | — | 20.1 | 11.9% | 9.2% | −0.0% | +1% / +17% |
| RCIRogers Communications Inc. | — | — | 49.0% | 31.8% | +5.4% | −12% / −20% |
| AMCXAMC Global Media Inc. | — | — | -2.1% | -0.9% | −4.5% | −5% / −44% |
| LILALiberty Latin America Ltd. | — | — | -32.1% | -3.9% | −0.1% | +47% / +88% |
1- and 3-year price returns: for CABO from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Cable One is a broadband provider in the United States serving residential and business customers in non-metropolitan markets under the Sparklight brand. The business is shifting toward data, and in the second quarter of 2026 revenues were 348.9 million USD, down 8.4% year over year 3.
SWOT
Strengths
- The company has a modern network with high capacity and gigabit access at all its passings, which sets it apart from many rivals in its area 1. Regional diversification and less dense markets reduce exposure to any single area 1.
- Adjusted EBITDA margin remains high and operating cash flow was solid in the second quarter of 2026, which supports debt repayment 3. Management points to significant potential to improve operating performance 3.
- A focus on higher-margin data services and fiber expansion supports the customer base and helps the company stay competitive over the long term 12.
Weaknesses
- Revenues are falling year over year, especially in video and residential data, because of subscriber losses 3. The decline in subscribers is a persistent weakness 2.
- The company reported large asset impairments and a substantial net loss in the second quarter of 2026, showing exposure in the book value of its investments 3.
- Gross debt remains significant, and programming and retransmission costs limit video margins 13.
Opportunities
- Expanding business data and wholesale services could support revenue growth in the higher-margin segment 1. The mobile pilot launched in 2025 could strengthen customer relationships 1.
- Acquiring the remaining MBI equity, expected in October 2026, could change the company's investment structure if the deal closes 21.
- If DOCSIS 4.0 and fiber expand, the company could win additional customers in rural areas and offer higher-value packages 1.
Threats
- Competitive pressure from fiber providers, telephone companies and fixed wireless internet could reduce market share and ARPU 1.
- Federal and state rules on net neutrality or artificial intelligence could raise compliance costs 1.
- Government broadband subsidies could support competitors in areas the company already serves 1.
Risks
- Subscriber losseshigh
The company reported declines in data and video subscribers in 2026, which could reduce revenue if the trend continues 23.
- Asset impairmenthigh
The large impairments in the second quarter of 2026 show that the carrying value of assets could be revised down if performance weakens 3.
- Rising programming costsmedium
Programming and retransmission fees may keep rising, cutting video margins and causing customer losses on bundled packages 1.
- Fiber and fixed wireless competitionmedium
Rivals expanding in served areas could reduce market share and pressure prices 1.
- Regulation and artificial intelligencelow
Federal or state regulatory changes could affect operations and costs, and use of AI carries reputational risks 1.
Investment thesis
What would need to be true (bull case)
- If residential and business data revenues recover, the company could benefit from high margins and steady cash flow, supported by its modern network 13.
- Gradually reducing video and focusing on higher-margin services could improve long-term profitability 1.
- Non-metropolitan markets with less competition could support growth if investments in fiber and DOCSIS 4.0 translate into new subscribers 1.
What would break the thesis
- Continued losses of data and video subscribers could reduce revenue faster than management expects 23.
- Repeated asset impairments and large net losses may signal problems with the value of investments, which could weigh on investor confidence 3.
- Competition from fiber, fixed wireless and government-subsidized rivals could limit the company's ability to raise prices 1.
What to watch
- Trend in residential and business data revenuesQ3 2026
- Completion of the acquisition of the remaining MBI equity2026
- Adjusted EBITDA margin and Adjusted EBITDA less capexQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Cable One, Inc. is a broadband communications provider offering data, video and voice over fiber-based and hybrid fiber-coaxial networks. The company serves about 1.0 million residential and business customers across 24 Western, Midwestern and Southern states 1. Its main focus has moved toward data services, which generate most of its revenue 1.
Residential data accounted for 60.1% of total revenues in 2025, followed by business data at 15.3% and residential video at 12.5% 1. The company states that data and business services carry much higher margins than video, where programming costs and retransmission fees are very high 1.
Management aims to grow the higher-margin lines and gradually reduce video, while network investment targets greater capacity and higher speeds 12. By June 2026 the number of data subscribers was about 968,000, down from the end of 2025 2.
Segments
Market context
Cable One operates in the broadband, cable television and voice market, competing with telephone companies, fiber providers and municipal networks 1. The company argues that its non-metropolitan markets offer more favorable competitive conditions than large urban centers, where more competitors offer fiber 1.
Trends
- Fixed wireless and fiber competitionheadwind
Fixed wireless internet providers and fiber operators are expanding coverage, which could reduce Cable One's share in areas it already serves 1. The company says it has upgraded much of its footprint to gigabit speeds, but competitive pressure remains high 1.
- Rising programming costsheadwind
Higher programming and retransmission fees reduce video margins and can lead to losses of customers who take bundled packages 1. The company says these costs keep rising, which could weigh on overall margins if not offset 1.
- Network upgrade to DOCSIS 4.0tailwind
Deployment of DOCSIS 4.0 and fiber expansion is underway to raise capacity and support growth in residential and business data 12. If adoption broadens, the investments could support long-term revenue 1.
Competitive position
Main competitors include telephone companies offering data and video over DSL or fiber, regional and municipal fiber operators, fixed wireless internet providers and video streaming services 1. The company notes that some competitors have large financial resources and can invest faster in new technology 1.
Competition for fiber services for business customers is also intense, and government broadband subsidies can support rivals in areas Cable One already serves 1. The company challenges some of these subsidies, but outcomes are not assured 1.
- Telephone companies
Offer data and video over DSL or fiber and are the main rivals in Cable One's markets 1.
- Regional and municipal fiber operators
Build fiber networks that can match or exceed the company's speeds, sometimes without a franchise 1.
- Fixed wireless internet providers
Offer internet access over wireless networks and can target residential data customers 1.
- Video streaming platforms
Compete directly with the company's video service and reduce demand for traditional TV packages 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Cable One Lender Seeks to Block $480 Million Mega Broadband DealBloomberg Markets · 09 Oct 2026 · EN
- Why Cable One (CABO) Became a Repeated Short Target?Yahoo Finance — News · 09 Sept 2026 · EN
- Cable One Creditors Organize, Pressuring Plans for New CapitalBloomberg Markets · 31 Jul 2026 · EN
The latest news item in our archive is from 09 Oct 2026; the newest SEC filing is from 30 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report30 Oct 2026Departure or appointment of officers
- Current report02 Oct 2026Material agreement · Other events
- Current report22 Sept 2026Creation of a direct financial obligation · Other events
- Current report14 Aug 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report09 Jul 2026Results of operations · Regulation FD disclosure
- Current report24 Jun 2026Other events
- Current report23 Jun 2026Other events · Financial statements and exhibits
- Current report22 Jun 2026Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Cable One, Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Cable One, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Cable One, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.