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olivLaw · US equity research

Optimum Communications, Inc. OPTU

Cable & Other Pay Television Services · SIC 4841 · Vertical: Cable & Other Pay Television Services (SIC 4841)

0.69USD+2.22% · 1 dayClose 04 Nov 2026

Optimum Communications, formerly Altice USA, is one of the largest broadband, video and mobile providers in the United States, operating in 21 states. The company faces strong competitive pressure and high debt, which makes its trajectory closely watched by investors and the market.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, Optimum Communications, Inc. (OPTU) stock was 0.69 USD (+2.22% on the day), with market capitalisation 188.1 m USD, dividend yield 0.00%, beta 1.30, 52-week range 0.60–2.15 USD. Latest reported quarter (Q2 2026): revenue of 2.0 bn USD (−5.8% YoY), net income of -291.8 m USD, diluted EPS -0.67 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
188.1 m USD
shares as of 31 Jul 2026
P/E (TTM)
unavailable
Diluted EPS TTM -10.39 · TTM to 30 Jun 2026
E/P (TTM)
-1,506.02%
TTM to 30 Jun 2026
Dividend yield
0.00%
DPS 12m 0.00
Beta (2y)
1.30
Volatility (1y) 108%
52-week range
0.602.15

Price history

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Technical reading

RSI (14)
41.6
weak (30–45)
Bollinger (20, 2)
0.52 – 1.05
in the lower half of the band · %B 0.32 · band width 67.2%
SMA 50 / 200
0.92 / 1.17
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.08 / -0.07
MACD below 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

CompanyS&P 500vs S&P 500Vertical median
1 month−30.2%−1.1%−29.1 pp—
3 months−12.0%−0.5%−11.5 pp—
6 months−50.0%+4.4%−54.4 pp—
Year to date−58.2%+12.3%−70.5 pp—
1 year−67.6%+13.5%−81.1 pp−11.5%
3 years−76.2%+76.4%−152.6 pp−1.7%
5 years−96.2%+63.7%−159.9 pp—
Max drawdown (1y)
−72.1%
05 Nov 2025 → 22 Oct 2026
Max drawdown (5y)
−96.7%
17 Nov 2021 → 22 Oct 2026
Compound annual growth (5y)
−47.9%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q2 2026 · 30 Jun 2026

Revenue
2.0 bn USD
−5.8% YoY
Net income
-291.8 m USD
unavailable YoY
Diluted EPS
-0.67
unavailable YoY
net / operating
-14.4% / 8.2%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue2.2 bn2.2 bn2.2 bn2.1 bn2.1 bn2.2 bn2.1 bn2.0 bn
Cost of revenue711.3 m721.9 m670.5 m662.7 m639.0 m664.9 m631.1 m587.7 m
Operating income444.6 m340.8 m343.5 m311.1 m-1.2 bn397.6 m-2.4 bn166.0 m
Depreciation & amortisation386.3 m471.7 m418.5 m409.7 m415.3 m453.5 m406.5 m407.1 m
Pre-tax income-50.7 m-92.4 m-87.2 m-135.6 m-1.6 bn-83.7 m-2.9 bn-320.8 m
Income tax-9.9 m-46.1 m-16.0 m-47.6 m-1.4 m-31.9 m-45.1 m-38.7 m
Net income-43.0 m-54.1 m-75.7 m-96.3 m-1.6 bn-71.2 m-2.9 bn-291.8 m
Diluted EPS-0.09-0.12 ≈-0.16-0.21-3.47-0.15 ≈-6.10-0.67
Operating cash flow436.0 m ≈439.9 m187.5 m412.0 m ≈147.4 m ≈481.6 m170.3 m228.1 m ≈
Capex359.2 m ≈390.0 m356.1 m383.5 m ≈325.5 m ≈282.1 m307.7 m320.0 m ≈

≈ 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 year20182019202020212022202320242025
Revenue9.6 bn9.8 bn9.9 bn10.1 bn9.6 bn9.2 bn9.0 bn8.6 bn
Revenue YoY+2.8%+2.0%+1.4%+2.0%−4.4%−4.3%−3.1%−4.1%
Net income18.8 m138.9 m436.2 m990.3 m194.6 m53.2 m-102.9 m-1.9 bn
Net income YoY−98.7%+637.7%+213.9%+127.0%−80.4%−72.7%−293.5%unavailable
Diluted EPS0.030.210.752.140.430.12-0.22-4.00
Diluted EPS YoY−98.6%+600.0%+257.1%+185.3%−79.9%−72.1%−283.3%unavailable
net %0.2%1.4%4.4%9.8%2.0%0.6%-1.1%-21.8%
Free cash flow1.4 bn1.2 bn1.9 bn1.6 bn452.6 m121.6 m149.4 m-118.8 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
1.0 bn USD
Financial debt
26.2 bn USD
Net debt
25.2 bn USD
Equity
-2.3 bn USD
Total assets
30.7 bn USD
Debt / equity
unavailable
Current ratio
0.80x
ROE
unavailable
ROA
-6.0%
FCF margin
-1.4%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
9.2 bn
2024
9.0 bn
2025
8.6 bn

SEC (XBRL)· 13 Feb 2026verified

Cost of revenue
2023
3.0 bn
2024
2.9 bn
2025
2.6 bn

SEC (XBRL)· 13 Feb 2026verified

Gross profit
2023
6.2 bn ≈
2024
6.1 bn ≈
2025
6.0 bn ≈

SEC (XBRL)· 13 Feb 2026derived

Research & development
2023
33.4 m
2024
—
2025
—

SEC (XBRL)· 15 Feb 2024verified

Operating income
2023
1.7 bn
2024
1.7 bn
2025
-112.6 m

SEC (XBRL)· 13 Feb 2026verified

Depreciation & amortisation
2023
1.6 bn
2024
1.6 bn
2025
1.7 bn

SEC (XBRL)· 13 Feb 2026verified

EBITDA
2023
3.3 bn ≈
2024
3.3 bn ≈
2025
1.6 bn ≈

SEC (XBRL)· 13 Feb 2026derived

Interest expense
2023
—
2024
—
2025
—

SEC (XBRL)· 16 Feb 2022verified

Pre-tax income
2023
118.6 m
2024
-82.3 m
2025
-1.9 bn

SEC (XBRL)· 13 Feb 2026verified

Income tax
2023
39.5 m
2024
-4.1 m
2025
-96.9 m

SEC (XBRL)· 13 Feb 2026verified

Net income
2023
53.2 m
2024
-102.9 m
2025
-1.9 bn

SEC (XBRL)· 13 Feb 2026verified

Diluted EPS
2023
0.12
2024
-0.22
2025
-4.00

SEC (XBRL)· 13 Feb 2026verified

Weighted average diluted shares
2023
455.0 m
2024
459.9 m
2025
467.8 m

SEC (XBRL)· 13 Feb 2026verified

Dividend per share
2023
0.00
2024
0.00
2025
0.00

SEC (XBRL)· 13 Feb 2026verified

Balance sheet · USD

Cash
2023
302.1 m
2024
256.5 m
2025
1.0 bn

SEC (XBRL)· 13 Feb 2026verified

Receivables
2023
357.6 m
2024
332.3 m
2025
335.8 m

SEC (XBRL)· 13 Feb 2026verified

Current assets
2023
834.8 m
2024
731.0 m
2025
1.6 bn

SEC (XBRL)· 13 Feb 2026verified

Property, plant & equipment, net
2023
8.1 bn
2024
8.4 bn
2025
8.4 bn

SEC (XBRL)· 13 Feb 2026verified

Goodwill
2023
8.0 bn
2024
8.0 bn
2025
8.0 bn

SEC (XBRL)· 13 Feb 2026verified

Intangibles (excl. goodwill)
2023
1.3 bn
2024
960.8 m
2025
702.5 m

SEC (XBRL)· 13 Feb 2026verified

Total assets
2023
31.9 bn
2024
31.7 bn
2025
30.7 bn

SEC (XBRL)· 13 Feb 2026verified

Accounts payable
2023
937.0 m
2024
971.5 m
2025
816.9 m

SEC (XBRL)· 13 Feb 2026verified

Short-term debt
2023
359.4 m
2024
185.5 m
2025
60.8 m

SEC (XBRL)· 13 Feb 2026verified

Long-term debt
2023
24.7 bn
2024
24.9 bn
2025
26.1 bn

SEC (XBRL)· 13 Feb 2026verified

Current liabilities
2023
2.3 bn
2024
2.3 bn
2025
2.1 bn

SEC (XBRL)· 13 Feb 2026verified

Total liabilities
2023
32.4 bn
2024
32.2 bn
2025
33.0 bn

SEC (XBRL)· 13 Feb 2026verified

Equity
2023
-434.4 m
2024
-456.8 m
2025
-2.3 bn

SEC (XBRL)· 13 Feb 2026verified

Cash flow · USD

Operating cash flow
2023
1.8 bn
2024
1.6 bn
2025
1.2 bn

SEC (XBRL)· 13 Feb 2026verified

Capex
2023
1.7 bn
2024
1.4 bn
2025
1.3 bn

SEC (XBRL)· 13 Feb 2026verified

Free cash flow
2023
121.6 m ≈
2024
149.4 m ≈
2025
-118.8 m ≈

SEC (XBRL)· 13 Feb 2026derived

Investing cash flow
2023
-1.7 bn
2024
-1.5 bn
2025
-1.3 bn

SEC (XBRL)· 13 Feb 2026verified

Financing cash flow
2023
-122.6 m
2024
-172.0 m
2025
949.4 m

SEC (XBRL)· 13 Feb 2026verified

Dividends paid
2023
—
2024
—
2025
—

SEC (XBRL)· 12 Feb 2021verified

Share repurchases
2023
0
2024
—
2025
—

SEC (XBRL)· 15 Feb 2024verified

Computed indicators

Growth

Revenue growth (YoY)
-4.1%
computed by olivLawFY 2025
Revenue CAGR 3Y
-3.8%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
-2.8%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
-106.7%
computed by olivLawFY 2025
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
-179.5%
computed by olivLawFY 2025

Profitability

Gross margin
69.9%
computed by olivLawTTM to 30 Jun 2026
EBITDA margin
-15.3%
computed by olivLawTTM to 30 Jun 2026
EBIT margin
-35.3%
computed by olivLawTTM to 30 Jun 2026
Net margin
-58.1%
computed by olivLawTTM to 30 Jun 2026
FCF margin
-2.5%
computed by olivLawTTM to 30 Jun 2026

Returns

ROE
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
ROA
-16.3%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROIC
unavailable
equity is negative: buybacks shrink the invested capital and ROIC would come out large without meaning anything
ROCE
-13.5%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
unavailable
insufficient data
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
25.3 bn USD
computed by olivLawbalance sheet at 30 Jun 2026
Net debt / EBITDA
unavailable
insufficient data
Debt / equity
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
Interest coverage
unavailable
the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used

Liquidity

Current ratio
0.3x
computed by olivLawbalance sheet at 30 Jun 2026
Quick ratio
unavailable
input data missing
Cash ratio
0.2x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
1.0 bn USD
computed by olivLawTTM to 30 Jun 2026
Capital expenditure
1.2 bn USD
computed by olivLawTTM to 30 Jun 2026
Free cash flow
-208.0 m USD
computed by olivLawTTM to 30 Jun 2026
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
insufficient data

Efficiency

Days sales outstanding
13 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
124 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
188.1 m USD
computed by olivLawbalance sheet at 30 Jun 2026
Enterprise value
25.4 bn USD
computed by olivLawbalance sheet at 30 Jun 2026
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-1,506.0%
computed by olivLawTTM to 30 Jun 2026
P/B
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
P/S
0.0x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
EV/EBITDA
unavailable
insufficient data
EV/EBIT
unavailable
insufficient data
EV/Sales
3.0x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-110.6%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Dividend yield
0.0%
computed by olivLawTTM to 30 Jun 2026
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 4 of at least 6
  • score weight coverage: 27.1% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

0.69 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 188.1 m USD

Key indicators

Market capitalisation
188.1 m USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
unavailable
insufficient data
P/B
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
EV/EBITDA
unavailable
insufficient data
ROE
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
Net margin
-58.1%
computed by olivLawTTM to 30 Jun 2026
Revenue growth (YoY)
-4.1%
computed by olivLawFY 2025
Dividend yield
0.0%
computed by olivLawTTM to 30 Jun 2026

Coverage and freshness

34/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 31 Jul 2026
Source: SEC (XBRL)published 06 Aug 2026
verified 1545derived 109

Score by group

27% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
  • Peers: EV/EBITDAunavailable · the base of the ratio is not positive
  • Peers: P/Eunavailable · the base of the ratio is not positive
  • Dividend discount (DDM)unavailable · the base of the ratio is not positive

no valuation method could be computed

Multiple comparisons use the SIC vertical: Cable & Other Pay Television Services (SIC 4841)

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

Insufficient data

Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality-58.1%8 (vs peers)23%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth-3.8%0 (on a fixed band)31%
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheetunavailableunavailable—
Current ratio · Balance sheet0.3x0 (on a fixed band)15%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation-110.6%0 (on a fixed band)31%
Shareholder yield (distributions) · Returnsunavailableunavailable—
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial0/100 · 1/3 factors with a value
  • Growth· partial0/100 · 1/2 factors with a value
  • Quality· partial8/100 · 1/3 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation· partial0/100 · 1/3 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

Optimum Communications, Inc. (OPTU). Latest full fiscal year: 2025; data up to 2026-06-30.

Figures computed from the financial statements: revenue 8.6 bn USD in 2025; YoY growth -4.1%; net margin -58.1%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.

What contradicts it

  • Net margin: -58.1%
  • Revenue CAGR 3Y: -3.8%
  • Current ratio: 0.3x
  • FCF yield: -110.6%

Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).

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

P/E
—
vertical median 16.6x
EV/EBITDA
—
vertical median 17.1x
P/S
0.0x
vertical median 1.4x
below median (−98.4%)
P/B
—
vertical median 2.4x
ROE
—
vertical median -2.1%
Net margin
-58.1%
vertical median 4.1%
below median (−1,523.0%)
EBIT margin
-35.3%
vertical median 11.0%
below median (−421.7%)
Revenue YoY
-4.1%
vertical median 1.5%
below median (−377.1%)
Net debt/EBITDA
—
vertical median 5.3x
Dividend yield
0.0%
vertical median 2.1%
below median (−100.0%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
WBDWarner Bros. Discovery, Inc.77.7 bn—-9.2%-8.8%−5.1%unavailable / unavailable
CHTRCharter Communications, Inc.32.6 bn3.129.7%9.1%−0.6%−40% / −70%
ROKURoku, Inc.24.1 bn48.218.2%9.3%+15.2%+68% / +56%
ADEAAdeia Inc.1.9 bn16.625.9%25.0%+17.9%+37% / +84%
OPTUOptimum Communications, Inc.188.1 m——-58.1%−4.1%−68% / −76%
PAAIThe Arena Group Holdings, Inc.43.8 m4.8—9.3%+698.2%−78% / −60%
CABOCable One, Inc.29.8 m—-126.2%-72.8%−4.9%−96% / −99%
AMCXAMC Global Media Inc.——-2.1%-0.9%−4.5%−5% / −44%
LILALiberty Latin America Ltd.——-32.1%-3.9%−0.1%+47% / +88%
LBTYALiberty Global Ltd.——-22.3%-44.4%+12.4%−16% / +16%
GLIBALiberty Capital Corp——-21.0%-32.5%+3.0%−31% / unavailable
RCIRogers Communications Inc.——49.0%31.8%+5.4%−12% / −20%
CCZComcast Corporation—20.111.9%9.2%−0.0%+1% / +17%

1- and 3-year price returns: for OPTU 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.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
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
What moves the 3-year price the most

    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.

    Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (21 Sept 2026 · results).

    In brief

    Optimum Communications, formerly Altice USA, is one of the largest broadband, video and mobile providers in the United States, operating in 21 states. The company faces strong competitive pressure and high debt, which makes its trajectory closely watched by investors and the market.

    SWOT

    Strengths

    • The company owns a hybrid fiber and coaxial network, earns a high Adjusted EBITDA margin relative to revenue, and holds a strong position in the New York metropolitan area 1.
    • The portfolio includes differentiated assets such as the News 12 channels, Lightpath's enterprise fiber network and a full infrastructure MVNO agreement giving control over the core network 1.
    • Diversification toward business and enterprise services gives a revenue base less exposed to the decline of pay TV, and this segment grew as a share of revenue in 2026 12.

    Weaknesses

    • The customer base is shrinking year on year, and the loss of video and telephony subscribers has weighed on revenue and on the capacity to service debt 1.
    • The company carries a high level of debt, reported significant net losses in 2025, and faces contractual restrictions that limit financial flexibility 1.
    • Reliance on third parties for equipment, licenses and network services, along with programming costs, reduces control over margins 1.

    Opportunities

    • Expanding the FTTH network and selling fiber services to enterprise clients and hyperscalers could support revenue growth if it translates into new subscriptions 1.
    • Developing mobile services and converged bundles could reduce churn in areas with intense competition 1.
    • Addressable advertising and audience data could raise media revenue if advertising demand improves 1.

    Threats

    • Competition from fiber and cable operators, along with market consolidation, could push prices down and reduce market share 1.
    • The shift to OTT platforms and direct-to-consumer content could further reduce demand for cable television 1.
    • If access to financing worsens or borrowing costs rise, refinancing the debt could become more expensive 1.

    Risks

    • High indebtednesshigh

      The company is heavily indebted and must refinance or repay significant obligations in the short and medium term; if capital markets tighten, the cost of financing could rise 1.

    • Going concern uncertaintyhigh

      The quarterly report refers to substantial doubt about the company's ability to continue as a going concern, which could affect access to financing and supplier relationships 2.

    • Competitive pressurehigh

      Competition from fiber and cable operators could reduce the subscriber base and push prices lower 1.

    • Programming costsmedium

      Rising contractual rates for programming and retransmission could compress margins, especially if customers do not accept price increases 1.

    • Regulation and franchisesmedium

      Franchise agreements may not be renewed or may carry new conditions, and regulatory changes affecting infrastructure and services could raise costs 1.

    Investment thesis

    What would need to be true (bull case)

    • If the FTTH expansion and business services translate into growth, the company's high margin could support a recovery in revenue over time 12.
    • A position in the New York metropolitan area, with a large customer base and differentiated assets such as Lightpath and News 12, could offer relative protection against competitors 1.
    • Diversification toward mobile, business and advertising could reduce dependence on the declining pay TV business 1.

    What would break the thesis

    • Continued decline in video and telephony subscribers, combined with high debt, could limit the company's ability to invest and maintain margins 1.
    • The going concern uncertainty and access to financing could force costly restructurings or asset sales 2.
    • Strong competition from fiber and cable operators could keep pressure on pricing and customer retention 1.

    What to watch

    • Trend in broadband and video customer numbersQ3 2026
    • Status of debt refinancing and any measures addressing the going concern uncertainty2026
    • Pace of FTTH network expansion and enterprise fiber sales2027
    • Development of advertising and news revenuenext 10-K

    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.

    Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (21 Sept 2026 · results).

    The business

    Optimum Communications, Inc. is a holding company that provides broadband, video, telephony, mobile and advertising services under the Optimum brand to residential and business customers in 21 states, mainly in the New York metropolitan area and several markets in the south-central United States 1. The company was renamed from Altice USA in November 2025 and is controlled by Patrick Drahi through Next Alt. S.à.r.l. 1. In fiscal 2025 revenue was 8.59 billion USD and the Adjusted EBITDA margin was 38.8% 1. For the first half of 2026 the company reported about 4.2 million customers 2.

    Beyond connectivity, Optimum includes the News 12 local news channels, advertising through Optimum Media and the media agency Juice Media, which diversifies revenue somewhat, although advertising and news make up a relatively small share of the total 1.

    Segments

    Residential

    Residential broadband, video, telephony and mobile services made up most of the revenue in 2025, with broadband the largest component at about 41% of the total 1. The decline in video and telephony subscribers signals competitive pressure 1.

    Business and enterprise

    The business segment, including SMB customers and enterprise clients served through Lightpath, contributed 17% of revenue in 2025 and 18% in the first half of 2026 12. Lightpath serves clients in health care, financial services and hyperscalers, over a fiber network of about 12,000 unique route miles 1.

    Advertising and news

    Linear, digital and data advertising, together with affiliation fees for News 12, represented about 5% of revenue in 2025 1. The segment depends on advertising demand and on how the linear television market develops 1.

    Market context

    The company operates in the US cable and pay television market, a mature market where growth increasingly comes from high-speed broadband, fiber and converged bundles. Pressure comes from fiber and fixed-line operators, wireless mobile providers and streaming platforms, which compete for the same customers 1. The company's performance depends largely on economic conditions and access to financing, which affect both demand and costs 1.

    The market is regulated at federal and local levels, with franchise agreements covering more than 1,400 communities, so pricing, network requirements and renewal terms also depend on public authorities 1.

    Trends

    • Fiber FTTH expansionmixed

      The FTTH build, offering symmetrical speeds of up to 8 Gbps, lets the company offer more competitive broadband and win customers where fiber competition is intense 1. The pace of investment could weigh on margins if revenue does not grow in parallel 1.

    • Decline of traditional pay TVheadwind

      Video and telephony subscribers are falling year on year as customers migrate to OTT services, streaming platforms and direct-to-consumer offers from content owners that do not require a traditional video subscription 1. This trend weighs on retention and demand for video services 1.

    • Programming costsheadwind

      Programming and retransmission costs are rising, and the company expects contractual rates to keep increasing, which compresses margins on video services 1. Negotiations with content providers may also lead to the loss of popular channels 1.

    • Growth in business and mobile servicestailwind

      Business services, particularly fiber for hyperscalers and enterprise clients, and the mobile service launched under the MVNO agreement with T-Mobile, are growth areas but also require heavy investment 12. Success depends on the company's ability to attract customers in these segments 1.

    Competitive position

    Competition comes from Verizon, which has expanded its FTTH network and acquired Frontier, from AT&T and from other fiber providers, which can sell fiber services to a significant share of households in the footprint 1. Cable operators Charter and Comcast are also expanding networks in the region, adding pricing pressure 1.

    In parallel, satellite broadband, wireless carriers, OTT platforms and satellite TV providers such as DirecTV and DISH compete with the company's services for consumers 1. Larger competitors often have greater financial resources and lighter regulatory burdens 1.

    • VerizonVZ

      Operator that has expanded its FTTH network in the New York area and acquired Frontier, consolidating the fiber market in several of the company's service areas.

    • AT&TT

      Fiber provider competing in several markets in the south-central United States, where it can sell fiber products to a significant share of households.

    • Charter CommunicationsCHTR

      Cable operator building new network in parts of the footprint and competing directly on broadband and video.

    • ComcastCMCSA

      Large cable operator expanding its network in some areas and part of the NY Interconnect joint venture for local advertising.

    News & filings

    In the press

    The latest news item in our archive is from 28 Sept 2026; the newest SEC filing is from 03 Nov 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 report03 Nov 2026
      Departure or appointment of officers · Financial statements and exhibits
    • Current report21 Sept 2026
      Results of operations · Non-reliance on financial statements · Financial statements and exhibits
    • Current report14 Aug 2026
      Delisting notice · Regulation FD disclosure · Financial statements and exhibits
    • Quarterly report06 Aug 2026
    • Current report06 Aug 2026
      Results of operations · Financial statements and exhibits
    • Current report06 Jul 2026
      Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
    • Current report12 Jun 2026
      Shareholder vote
    • Current report01 Jun 2026
      Material agreement · Item 3.02 · Regulation FD disclosure · Other events · Financial statements and exhibits
    • Quarterly report07 May 2026
    • Current report07 May 2026
      Results of operations · Financial statements and exhibits

    Sources

    1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Optimum Communications, Inc. · 13 Feb 2026
    2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Optimum Communications, 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.