Charter Communications (CHTR) FY2023 results: revenue $54.6 billion, up 1.1% on the year

Charter Communications, Inc. (CHTR) reported revenue of $54.6 billion for fiscal 2023, the year ended 31 December 2023, up 1.1% on the year before. Net income was $4.6 billion, down 9.9%, and diluted earnings per share $29.99. The figures are the company's own, from the 10-K it filed with the SEC on 2 February 2024.

Revenue

$54.6 billion

+1.1% on the year

FY2016FY2023

Operating margin

23.0%

22.1% a year earlier

FY2016FY2023

Net income

$4.6 billion

-9.9% on the year

FY2016FY2023

Diluted EPS

$29.99

-2.4% on the year

FY2016FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ million	FY2023	FY2022	FY2021	On the year
Revenue	54,607	54,022	51,682	+1.1%
Operating income	12,559	11,962	10,526	+5.0%
Operating margin	23.0%	22.1%	20.4%
Interest expense	5,188	4,556	n/a	+13.9%
Pre-tax income	6,854	7,462	6,388	-8.1%
Income tax	1,593	1,613	1,068	-1.2%
Effective tax rate	23.2%	21.6%	16.7%
Net income	4,557	5,055	4,654	-9.9%
Net margin	8.3%	9.4%	9.0%
Diluted EPS	$29.99	$30.74	$24.47	-2.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2023	FY2022	FY2021	On the year
Operating cash flow	14,433	14,925	16,239	-3.3%
Capital expenditure	11,115	9,376	7,635	+18.5%
Free cash flow	3,318	5,549	8,604	-40.2%
Free cash flow margin	6.1%	10.3%	16.6%
Cash from investing	-11,127	-9,114	-7,754
Cash from financing	-3,242	-5,767	-8,885
Depreciation and amortisation	8,696	8,903	9,345	-2.3%
Share-based compensation	692	470	430	+47.2%
Buybacks	3,215	10,277	15,431	-68.7%
Diluted shares, weighted	152m	164m	193m	-7.6%

Balance sheet

$ million	FY2023	FY2022	FY2021	On the year
Shareholders' equity	11,086	9,119	14,050	+21.6%
Non-controlling interest	3,632	3,430	4,106	+5.9%
Debt	97,777	97,603	91,561	+0.2%
Operating lease liabilities	1,128	1,083	1,182	+4.2%
Other liabilities	33,570	33,288	31,592	+0.8%
Total liabilities and equity	147,193	144,523	142,491	+1.8%
Fixed assets	39,520	36,039	34,310	+9.7%
Goodwill	29,668	29,563	29,562	+0.4%
Intangible assets	1,917	2,976	4,294	-35.6%
Cash and equivalents	709	645	601	+9.9%
Receivables	2,965	2,921	2,579	+1.5%
Other assets	72,414	72,379	71,145	+0.0%
Total assets	147,193	144,523	142,491	+1.8%

10-K for the year ended 31 December 2023, filed 2 February 2024: the filing.