Loading…
← CockpitCompetitor Analysis › LBTYB Liberty Global Ltd. Class BOpen in the cockpit ↗

Liberty Global Ltd. Class BLBTYBCompetitor analysis, valuation and peers

United States · USD·Communication Services›Major Telecommunications

European cable/broadband holding company with joint-venture stakes in major UK, Dutch and Belgian telecom operators.

≈ A European Comcast/Charter, run by John MaloneMomentum weak 35
Mkt cap
$3.09B
US dollars, full cap
Free float
2%
of shares outstanding
$/day
$123,434
20-day average traded
Fwd P/E
n/m
no positive forecast
ROIC−WACC
-6.1 pp
WACC 6.0%
Hurdle
n/a
no reverse DCF
Next earnings
110 days
24 Feb 2027
Close · USD$11.45
1D+1.9%
1W+4.1%
1M-7.4%
3M-6.2%
6M-16.7%
YTD-3.1%
1Y+8.7%
ATR %5.2%
Beta0.55
52w lowhigh60.5% off high

What Liberty Global does

European cable/broadband holding company with joint-venture stakes in major UK, Dutch and Belgian telecom operators.

The big UK and Dutch operations are equal partnerships with Telefonica and Vodafone and are not consolidated, so Liberty's cash comes mainly as dividends and fees from them rather than as sales. Subscribers pay monthly for bundles; Belgium's Telenet is consolidated. This is one of three listed share classes, differing in voting rights.

In one line: A European Comcast/Charter, run by John Malone.

Products and services

  • Virgin Media O2 (UK, JV)
  • VodafoneZiggo (Netherlands, JV)
  • Telenet (Belgium)
  • Corporate/investment holdings

Customers

  • European broadband/TV/mobile subscribers

Where it sits in the supply chain

  • Telecommunications
  • Cable/broadband infrastructure
  • European fixed-line & mobile joint…

What could go right

  • Broadband/mobile convergence bundling
  • Joint-venture synergies

What could go wrong

  • Heavy debt load
  • European telecom price competition

Moat: narrow (scale, installed base). Owns fixed-line cable infrastructure in dense European markets, expensive for rivals to duplicate.

Headquarters: Denver, Colorado · Founded: 2005 · Employees: 6,636

Named competitors

Liberty Global at a glance

Size Liberty Global (LBTYB) is a United States Communication Services company (Major Telecommunications) with a market value of $3.09B, the 1526th largest of 3,117 United States companies the cockpit tracks. Shares closed at $11.45 on 6 Nov 2026.

Performance Over six months the shares fell 16.7%, against -10.2% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 21 in its peer set.

Growth Revenue fell 27.1% over the last twelve months (peer median +3.8%); the operating margin is -0.7% (peer median 9.4%).

Valuation It trades at 4.2× enterprise value to sales against a peer median of 2.1× (6th most expensive of 21).

Capital Return on invested capital runs 6.1 points below its cost of capital (6.0% WACC).

Backlog Backlog (remaining performance obligations) was $2.60B at 30 Sep 2026 — 0.5 years of trailing revenue. Backlog detail →

Short interest Short interest is 0.0% of the free float (15 Oct 2026).

Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).

Relative performance

10012011 May 202611 Aug 20266 Nov 2026Peer median 91LBTYB 88
Six months, rebased to 100: Liberty Global against the median of its 20 peers (local-currency closes).

Liberty Global financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue$5.60B$4.88B$4.34B$4.12B$7.20B
Revenue growth—+12%+5%-43%—
Gross profit$1.48B$1.29B$1.13B$848M$1.85B
EBITDA$1.30B$1.07B$988M$952M$2.41B
Net income-$2.49B-$7.14B$1.59B-$4.05B$627M
Free cash flow-$19.9M-$123M$1.33B$2.06B$2.01B
Capital expenditure$1.60B$1.34B$908M$922M$1.30B
Total debt$21.7B$9.42B$9.85B$9.95B$15.6B

Quarterly statements and history in the cockpit →

Liberty Global competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-50%-25%0%+25%+50%-20%0%+20%CJLUITIETL3774LUMNIDTTEO0008TATACOMM032640UTDILILA300770GAMAUNIT3012621310030200LBTYB6-month return →1-month return →
Up and to the right = strong over both horizons. Liberty Global is the large dot.

Fundamentals: revenue growth against valuation

-20%0%+20%5×10×CJLUITIETL3774LUMNIDTTEO0008032640UTDILILA300770GAMAUNIT301262030200TEL2-ALBTYBRevenue growth (TTM) →EV / Sales →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Liberty Global is the large dot.

Liberty Global competitors and peer comparison

Head to head with its named competitors (LBTYB vs VOD.L vs DTE.DE vs CMCSA)
CompanyMarket cap6M returnRevenue growthOp. marginEV / SalesReq g
Liberty Global LBTYB$3.09B-17%-27%-1%4.2×n/a
Vodafone Group Public VOD.L$36.3B+4%+11%10%1.8×4.2%
Deutsche Telekom DTE.DE$139B-7%+2%22%2.4×-7.7%
Comcast CMCSA$86.6B-3%0%15%1.4×-6.4%
Charter Communications CHTR$20.8B-24%-2%24%2.2×-8.5%

How Liberty Global compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Liberty Global against its 20 peers (data as of 6 Nov 2026)
MeasureLBTYBPeer medianRank in peer set
1-month return-7.4%+1.7%4th lowest of 21
6-month return-16.7%-10.2%8th lowest of 21
Distance from 52-week high-60.5%-20.8%2nd lowest of 21
Revenue growth (TTM)-27.1%+3.8%2nd lowest of 21
Operating margin-0.7%9.4%4th lowest of 21
EV / Sales4.2×2.1×6th most expensive of 21
ROIC minus cost of capital-6.1 pp-0.7 pp5th lowest of 20
EV / EBITDA18.2×7.7×most expensive of 17
Net debt / EBITDA15.1×2.3×most indebted of 17

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginEV / SalesReq gDelivered g
Liberty Global LBTYBUnited States$3.09B-17%-27%-1%4.2×n/an/a
NetLink NBN Trust CJLU.SISingapore$2.87B-7%0%22%11.0×16.0%+2.3%
ITI ITI.NSIndia$2.53B-18%-41%-1%11.3×n/an/a
Eutelsat Communications ETL.PAFrance$2.40B-40%-1%-6%2.9×n/an/a
Internet Initiative Japan 3774.TJapan$4.05B+30%+14%9%1.9×2.3%+10.2%
Lumen Technologies LUMNUnited States$4.12B-59%-8%-3%1.3×5.1%-9.7%
IDT IDTUnited States$2.18B+54%+5%9%1.4×5.7%-2.2%
Telecom Argentina SA Sponsored ADR TEOUnited States$4.87B-16%+33%9%1.2×4.1%+8.4%
PCCW 0008.HKHong Kong$5.04B-17%+7%13%2.8×1.2%+2.3%
Tata Communications TATACOMM.NSIndia$5.15B+7%+9%8%2.4×34.1%+7.7%
LG Uplus 032640.KSSouth Korea$5.17B+6%0%7%0.5×-17.5%+2.9%
United Internet UTDI.DEGermany$5.17B-9%-8%9%1.5×1.4%+2.7%
Liberty Latin America LILAUnited States$1.73B+72%+1%17%2.3×0.5%+3.4%
Guangdong South New Media 300770.SZChina$1.37B+7%-6%37%4.6×-1.5%+5.9%
Gamma Communications GAMA.LUnited Kingdom$1.32B+23%+7%15%1.5×-0.4%+10.4%
Uniti UNITUnited States$1.27B-54%+200%10%3.3×n/an/a
Grupo Televisa, S.A.B. Sponsored ADR TVUnited States$1.24B-18%+6%11%1.4×1.1%-7.5%
Hicon Network Technology (Shandong) 301262.SZChina$1.21B+1%+2%38%5.0×5.4%+0.1%
HKBN 1310.HKHong Kong$1.02B-25%+6%3%1.5×n/an/a
KT 030200.KSSouth Korea$9.46B-12%+9%7%0.8×-4.1%+3.4%
Tele2 TEL2-A.STSweden$11.2B-14%+2%24%4.5×-2.4%+2.4%

Liberty Global backlog

Liberty Global reported $2.60B of remaining performance obligations at 30 Sep 2026. That is 0.5 years of trailing revenue already under contract.

Questions

Who are Liberty Global's main competitors?
Named competitors: Vodafone Group (VOD.L), Deutsche Telekom (DTE.DE), Comcast (CMCSA), Charter Communications (CHTR). The cockpit's measured peer set (industry) also includes NetLink NBN Trust (CJLU.SI), ITI (ITI.NS), Eutelsat Communications (ETL.PA), Internet Initiative Japan (3774.T), Lumen Technologies (LUMN), IDT (IDT).
Is Liberty Global expensive compared with its peers?
On ev / sales it trades at 4.2× against a peer median of 2.1×, 6th most expensive of 21 in its peer set.
How has Liberty Global stock performed?
Over six months to 6 Nov 2026 the shares returned -16.7% against -10.2% for the median peer; over one year +8.7%.
What is Liberty Global's backlog?
Liberty Global's remaining performance obligations (contracted revenue not yet recognised) were $2.60B at 30 Sep 2026.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.