Charter Communications (NASDAQ: CHTR) closed at $103.38 on October 9 and has returned -54.3% over the last six months, compared with 24.3% for the Insider Monkey Billionaire Index and 15.1% for the SPDR S&P 500 ETF Trust. One group views Charter as a near-monopoly cable infrastructure business with a 23.50% operating margin and operating cash flow more than three times reported profit, arguing that a multiple below three times earnings looks too cheap. The other sees a highly indebted borrower losing broadband customers to fibre and fixed wireless, and 41.52% of the float is sold short. The article argues that trailing earnings reflect deal accounting from the $34.5 billion Cox Communications acquisition and the Liberty Broadband transaction, and that revenue fell 1.70% in the latest quarter. It also cites debt of $96.71 billion against about half a billion dollars in cash and a current ratio of 0.36.
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