Cable One, Inc. key statistics and ratios

In fiscal 2025, Cable One, Inc. had return on equity of -22.1%, an operating margin of -13.8%, debt equal to 224.0% of equity and a current ratio of 0.40. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Cable One, Inc.: financial ratios, annual
Fiscal year	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Operating margin	19.9%	20.1%	20.3%	22.8%	24.6%	25.0%	26.6%	35.4%	28.4%	31.6%	31.4%	28.0%	−13.8%	−17.5%
Net margin	12.7%	18.1%	11.4%	12.2%	24.5%	15.4%	15.3%	23.0%	18.2%	12.5%	13.4%	0.9%	−23.7%	−72.8%
Free-cash-flow margin	11.5%	4.9%	9.9%	15.4%	15.1%	17.7%	19.6%	21.2%	19.5%	19.0%	17.4%	23.9%	18.5%	17.5%
Return on equity	12.5%	17.3%	14.0%	21.7%	40.9%	22.7%	22.1%	26.1%	17.7%	12.1%	12.7%	0.8%	−22.1%	−119.3%
Return on assets	—	11.7%	6.9%	7.1%	13.0%	7.3%	6.5%	8.0%	5.1%	3.1%	3.3%	0.2%	−5.9%	−20.6%
Asset turnover	—	0.65	0.61	0.58	0.53	0.48	0.43	0.35	0.28	0.25	0.25	0.24	0.25	0.28
Current ratio	—	0.52	1.30	1.68	1.52	2.38	0.96	3.04	1.86	1.42	1.69	1.31	0.40	0.48
Debt to equity	0.0%	0.0%	122.1%	115.2%	176.6%	152.2%	209.0%	146.9%	216.8%	221.6%	203.4%	201.4%	224.0%	937.0%
Interest cover (operating income ÷ interest)	—	—	10.2x	6.2x	5.0x	4.4x	4.3x	6.4x	4.0x	3.9x	3.1x	3.2x	n/m	n/m
Effective tax rate	36.4%	38.1%	37.6%	38.1%	−23.7%	22.3%	23.6%	20.1%	13.6%	31.9%	17.7%	10.3%	—	—
SG&A as % of revenue	22.3%	23.2%	24.0%	22.6%	21.3%	20.7%	21.0%	19.3%	21.6%	20.5%	21.1%	23.2%	25.4%	25.6%
Capital spending as % of revenue	17.2%	20.3%	21.3%	16.0%	18.7%	20.3%	22.5%	22.1%	24.4%	24.3%	22.1%	18.1%	19.0%	20.0%
Free cash flow ÷ net income	90.6%	27.2%	87.2%	125.9%	61.7%	115.3%	128.5%	92.4%	107.1%	152.0%	130.1%	>999%	—	—
Dividends ÷ net income	—	—	9.6%	34.3%	15.8%	26.0%	27.2%	18.6%	21.7%	31.1%	29.5%	468.9%	—	—
Dividends and buybacks ÷ free cash flow	—	—	31.4%	71.9%	26.0%	36.5%	23.4%	20.1%	20.3%	129.5%	56.8%	18.0%	6.2%	0.0%

US$ thousands unless shown otherwise. Fiscal quarters.

Cable One, Inc.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Operating margin	28.0%	26.2%	25.1%	−128.4%	25.2%	25.2%	24.5%	−150.4%
Net margin	11.2%	−27.2%	0.7%	−114.9%	23.0%	−2.1%	10.1%	−333.8%
Free-cash-flow margin	25.2%	24.7%	11.9%	20.1%	22.5%	19.7%	14.1%	13.4%
Current ratio	0.93	1.31	0.36	0.37	0.38	0.40	1.75	0.48
Debt to equity	186.3%	201.1%	200.9%	261.5%	230.4%	223.8%	210.9%	936.2%
SG&A as % of revenue	22.5%	24.9%	25.1%	24.1%	26.8%	25.5%	24.7%	25.1%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

0 of 7 checks passed · June 30, 2026

What it owns · $4.6bn

Short-term assets $284mLonger-term assets $4.3bn

What it owes, and who funded it · $4.6bn

Short-term liabilities $597mLonger-term liabilities $3.7bnShareholders' equity $326m

Short-term assets cover short-term liabilities $284m of assets due within a year against $597m of liabilities due within a year.
Short-term assets cover long-term liabilities $284m short-term assets against $3.7bn of longer-dated liabilities.
More cash than debt $166m of cash against $3.1bn of debt.
Debt below 40% of shareholders' equity Debt is 936% of equity.
Debt burden no higher than five years ago Debt to equity moved from 216% to 936% over five years.
A year's operating cash flow covers at least 20% of debt $541m of operating cash flow against $3.1bn of debt.
Operating profit covers interest at least five times over Operating income of −$252m against $126m of interest.

From Cable One, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

62 /100

Moderate moat

How hard Cable One's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 6 / 20

Net income has been a median 5.1% of total assets over 10 years.
Durability 9 / 20

Operating margin has been a median 26.5%; its worst year was -17.5%.
Cash conversion 20 / 20

Free cash flow was positive in 10 of 10 years, at a median 19.2% of revenue.
Discipline 19 / 20

The diluted share count fell 6.8% over five years; stock-based pay has been a median 1.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (67 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Cable One, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Cable One, Inc.