Forensic Analysis · Cable & Broadband · as of Nov 9, 2026
Liberty Global Ltd. (LBTYB)
A forensic read on Liberty Global Ltd. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Clean
Earnings quality
2
Forensic signals
-64.6%
ROE
12.4%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Liberty Global Ltd. earns a C (Mixed — selective) forensic quality grade. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-0.1%
FY2025
Return on invested capital.Return on invested capital is -0.1% in the latest fiscal year and steady across FY2023–FY2025, inside a 0.6-point range. After-tax operating profit was ($248M) in FY2023 and ($18M) in FY2025, with operating income at -7.6% of revenue in FY2023, -1.4% in FY2024 and -0.5% in FY2025. The capital base behind it came down -47% across FY2023–FY2025, from $37.1B to $19.7B, so this return is struck on a smaller base than it started on.
FCF ($132M)
FY2025
Shareholder returns.Returned $192M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($132M) after capex — there was no free cash flow to fund the payout from at all, though operating cash flow alone was $1.2B — 16% of that. Capex and the payout together ran $324M past operating cash flow — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of. Over FY2025 cash and short-term investments rose $6M and total debt fell $506M, so neither line funded the gap. The FY2025 cash-flow statement filed $765M of debt issued against $691M repaid; $1.0B of investments sold or matured; net cash used in investing activities of $875M; net cash used in financing activities of $226M.
Key fundamentals
Latest Revenue$4.88B
Revenue Growth YoY+12.4%
Revenue CAGR (2yr)+8.9%
Net Margin-146.3%
Free Cash Flow-$132.0M
Return on Equity-64.6%
Debt / Equity0.88x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Liberty Global Ltd.'s actual 10-K/10-Q/8-K filings?