Altice Usa, Inc.
ATUS
Cable & Other Pay Television Services
Mkt Cap
$670MPE
109.13Debt
$25.41BCash
$284.7MEV
$25.79BFCF
$351.2MP/E Ratio
109.13Debt
$25.41BCash
$284.7MEV
$25.79BFCF
$351.2MCharts data: {"Earnings":[{"time":"2016-12-30","value":-832030000},{"time":"2017-12-30","value":1520031000},{"time":"2018-12-30","value":18833000},{"time":"2019-12-30","value":138936000},{"time":"2020-12-30","value":436183000},{"time":"2021-12-30","value":990311000},{"time":"2022-12-30","value":194563000},{"time":"2023-12-30","value":53198000}],"Sales":[{"time":"2016-12-30","value":6017212000},{"time":"2017-12-30","value":9306950000},{"time":"2018-12-30","value":9566608000},{"time":"2019-12-30","value":9760859000},{"time":"2020-12-30","value":9894642000},{"time":"2021-12-30","value":10090849000},{"time":"2022-12-30","value":9647659000},{"time":"2023-12-30","value":9237064000}],"Net Margins":[{"time":"2016-12-30","value":-0.13827500177823218},{"time":"2017-12-30","value":0.163322140980665},{"time":"2018-12-30","value":0.001968618344140368},{"time":"2019-12-30","value":0.014233993135235332},{"time":"2020-12-30","value":0.04408274700590481},{"time":"2021-12-30","value":0.09813951234430324},{"time":"2022-12-30","value":0.02016686120436056},{"time":"2023-12-30","value":0.005759189283521257}],"Assets":[{"time":"2016-12-30","value":36474249000},{"time":"2017-12-30","value":34775225000},{"time":"2018-12-30","value":33613808000},{"time":"2019-12-30","value":34108122000},{"time":"2020-12-30","value":33376660000},{"time":"2021-12-30","value":33215034000},{"time":"2022-12-30","value":33664966000},{"time":"2023-12-30","value":31923616000}],"Stockholders Equity":[{"time":"2016-12-30","value":2029842000},{"time":"2017-12-30","value":5495840000},{"time":"2018-12-30","value":3680236000},{"time":"2019-12-30","value":2279262000},{"time":"2020-12-30","value":-1141030000},{"time":"2021-12-30","value":-819788000},{"time":"2022-12-30","value":-475211000},{"time":"2023-12-30","value":-422180000}],"ROE":[{"time":"2016-12-30","value":-0.40989889853495987},{"time":"2017-12-30","value":0.27657846662202684},{"time":"2018-12-30","value":0.00511733486656834},{"time":"2019-12-30","value":0.06095657278540159},{"time":"2020-12-30","value":-0.3822712812108358},{"time":"2021-12-30","value":-1.2080086558964025},{"time":"2022-12-30","value":-0.40942444514121096},{"time":"2023-12-30","value":-0.12600786394428917}],"ROA":[{"time":"2016-12-30","value":0.012602480177179248},{"time":"2017-12-30","value":0.024885072634325156},{"time":"2018-12-30","value":0.0500502353080615},{"time":"2019-12-30","value":0.053471457619390476},{"time":"2020-12-30","value":0.06337629349371687},{"time":"2021-12-30","value":0.07600856286945243},{"time":"2022-12-30","value":0.053545100862421785},{"time":"2023-12-30","value":0.05331288285136621}]}
Altice USA, Inc., together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications. It also provides voice over Internet protocol telephone services; and mobile services, such as data, talk, and text. In addition, the company offers Ethernet, data transport, IP-based virtual private networks, Internet access, and telephony services; hosted telephony services, managed Wi-Fi, managed desktop and server backup, and collaboration services comprising audio and web conferencing; fiber-to-the-tower services to wireless carriers; data services consisting of wide area networking and dedicated data access, as well as wireless mesh networks; and enterprise class telephone services that include traditional multi-line phone service. Further, it provides business e-mail, hosted private branch exchange, web space storage, and network security monitoring; and international calling and toll free numbers. Additionally, the company offers audience-based and IP-authenticated cross-screen advertising solutions; and television and digital advertising services, as well as operates news channels under the News 12 Networks, Cheddar, and i24NEWS names. It also provides broadband communications and video services under the Optimum and Suddenlink brands. The company was incorporated in 2015 and is headquartered in Long Island City, New York.
DCF
Discounted Cash Flow Valuation of Altice Usa, Inc.
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $351.2M | $289.3M | $238.3M | $196.2M | $161.6M | $133.1M | $109.6M | $90.31M | $74.38M | $61.26M | $50.46M | $504.6M |
| DCF | $251.5M | $180.2M | $129M | $92.41M | $66.18M | $47.4M | $33.95M | $24.32M | $17.41M | $12.47M | $124.7M | |
| Value | $979.6M | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth -29%
Earnings Stability -23%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -14% | 16% | 0.2% | 1.4% | 4.4% | 9.8% | 2% | 0.58% | 0.067% |
| ROA | 1.3% | 2.5% | 5% | 5.3% | 6.3% | 7.6% | 5.4% | 5.3% | 5.2% |
| ROE | -41% | 28% | 0.51% | 6.1% | -38% | -120% | -41% | -13% | -1.4% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +3.07%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +0.26%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +5.83%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is +0.08%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is -34.33%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -8.26%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | - | 1.37 | 16.96 | 20.51 | 14.67 | 16.93 | 63.33 | 209.19 | 72.34 | |
| Debt Equity | 0.33 | 0.25 | 6.24 | 10.79 | -24.51 | -33.50 | -60.32 | -60.25 | -58.92 | |
| MIN | ||||||||||
| Graham Stability | - | - | - | 59% | 78% | 100% | 37% | 9.8% | 9.8% | |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 72.34.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is 31.20.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.10.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 6.3% | -0.7% | -2.3% | -4.3% | -6.8% |
| Net Income | - | 23% | -50% | -73% | -60% |
| Stockholders Equity | - | - | - | - | -100% |
| FCF | -20% | -38% | -60% | -73% | -24% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is -0.7%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is -6.83%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +23.08%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -60.3%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is -.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -104.41%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is -38.25%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -24.2%.