Liberty Global A (LBTYA) AI Stock Analysis

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Liberty Global A

(NASDAQ:LBTYA)

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Neutral 59 (OpenAI - 5.2)

Rating:59Neutral

Price Target:

$13.50

▲(7.66% Upside)

Action:ReiteratedDate:02/19/26

The score is held back primarily by weak TTM profitability and negative returns on equity despite strong revenue growth and solid free cash flow. Technicals are supportive with price above major moving averages and neutral momentum. Earnings call commentary is strategically positive (transactions, cost cuts, refinancing), but 2026 guidance for revenue/EBITDA declines across operating companies and added investment needs reduces near-term confidence.

Positive Factors

Revenue growth and cash generation

Sustained top-line expansion combined with positive free cash flow (~$1.45B, +21% TTM) supports durable operational funding for capex, fiber builds, and deal financing. Recurring subscription revenue plus FCF expansion provides a multi-quarter buffer for investments and deleveraging initiatives.

Scale and diversified telecom footprint

Large-scale, multi-country FMC footprint (~$22B revenue, ~$8B EBITDA) creates durable competitive advantages: negotiating leverage with suppliers/content, cross-sell opportunities across fixed/mobile, and geographic diversification that smooths cash cycles and supports strategic investments over the medium term.

Value-creating strategic transactions and portfolio rotation

Acquiring Vodafone's stake, creating Ziggo Group and planned Euronext listing represent structural portfolio reshaping that can crystallize value, realize ~€1.0B synergies and target ~€500M FCF by 2028. These transactions materially alter cash-flow mix and medium-term capital allocation optionality.

Negative Factors

Sharp profitability deterioration

Deep negative margins and a large net loss materially weaken return-generation and indicate earnings volatility. Persistent operating losses impair retained earnings, constrain reinvestment and shareholder returns, and require sustained cash generation to offset income-statement weakness over coming quarters.

2026 guidance shows OpCo revenue and EBITDA declines

Management guidance points to near-term declines across major operating companies, reflecting competitive pressure and incremental OpEx/CapEx. Multi-OpCo EBITDA declines reduce consolidated earnings power and make it harder to fund investments or further debt reduction without relying on asset sales or slower growth.

Corporate liquidity drawdown and refinancing sensitivity

Pro forma corporate cash reduction and negative corporate adjusted EBITDA increase sensitivity to refinancing and asset-sale timing. Reduced central liquidity limits strategic flexibility, tightens the margin for execution risk on transactions, and raises exposure to credit market volatility over the medium term.

Liberty Global A (LBTYA) vs. SPDR S&P 500 ETF (SPY)

Market Cap

$4.35B

Dividend YieldN/A

Average Volume (3M)1.78M

Price to Earnings (P/E)―

Beta (1Y)0.36

Revenue GrowthN/A

EPS GrowthN/A

CountryUS

Employees6,820

SectorCommunication Services

Sector Strength97

IndustryTelecommunications Services

Share Statistics

EPS (TTM)-8.71

Shares Outstanding174,444,270

10 Day Avg. Volume1,832,386

30 Day Avg. Volume1,776,374

Financial Highlights & Ratios

PEG Ratio<0.01

Price to Book (P/B)0.41

Price to Sales (P/S)0.82

P/FCF Ratio-32.60

Enterprise Value/Market Cap2.81

Enterprise Value/Revenue2.51

Enterprise Value/Gross Profit9.48

Enterprise Value/Ebitda11.41

Forecast

1Y Price Target

$12.70

Price Target Upside1.28% Upside

Rating ConsensusHold

Number of Analyst Covering5

EPS Forecast (FY)N/A

Revenue Forecast (FY)N/A

Liberty Global A Business Overview & Revenue Model

Company DescriptionLiberty Global plc, together with its subsidiaries, provides broadband internet, video, fixed-line telephony, and mobile communications services to residential and business customers. It offers value-added broadband services, such as intelligent WiFi features; security; smart home, online storage solutions, and Web spaces; Connect Box, a set-top or Horizon box that delivers in-home Wi-Fi service; community Wi-Fi via routers in home, which provides access to the internet; and public Wi-Fi access points in train stations, hotels, bars, restaurants, and other public places. The company also provides various tiers of digital video programming and audio services, as well as digital video recorders and multimedia home gateway systems; and channels, including general entertainment, sports, movies, series, documentaries, lifestyles, news, adult, children, and ethnic and foreign channels. In addition, it offers postpaid and prepaid mobile services; circuit-switched telephony services; and personal call manager, unified messaging, and a second or third phone line at an incremental cost. Further, the company offers business services comprising voice, advanced data, video, wireless, cloud-based services, and mobile and converged fixed-mobile services to small or home office, small business, and medium and large enterprises, as well as on a wholesale basis to other operators. It operates in the United Kingdom, Belgium, Switzerland, Ireland, Poland, Slovakia, and internationally. Liberty Global plc was founded in 2004 and is based in London, the United Kingdom.

How the Company Makes MoneyLiberty Global generates revenue through several key streams, including subscription fees from broadband internet, cable television, and mobile services. The company has a significant customer base across Europe, which provides a stable source of recurring income. Additionally, it earns revenue from advertising services on its platforms and from partnerships with content providers for exclusive programming. Strategic collaborations with other telecoms and media companies further bolster its revenue, as they often lead to bundled service offerings that enhance customer acquisition and retention. Furthermore, Liberty Global engages in wholesale services, allowing other operators to utilize its network infrastructure, contributing to its earnings.

Liberty Global A Earnings Call Summary

Earnings Call Date:Feb 18, 2026

(Q4-2025)

% Change Since: |

Next Earnings Date:Apr 30, 2026

Earnings Call Sentiment Positive

The call presented a constructive strategic update with multiple high-impact transactions (VodafoneZiggo acquisition, Nexfibre/Netomnia deal), meaningful corporate cost reduction (net corporate spend down ~75%), strong refinancing activity (~$15B) and continued focus on unlocking value from the growth portfolio. These material positives are tempered by near-term revenue and EBITDA declines across key operating companies (VMO2, VodafoneZiggo, Telenet), planned incremental investments into network resilience (EUR 100M in 2026), and some refinancing timing uncertainty. Management emphasizes that the transactions materially improve the medium-term equity and free cash flow story (targeting ~ $500M FCF at Ziggo by 2028) and that all OpCos met 2025 guidance, supporting a predominantly positive strategic outlook despite near-term operational headwinds.

Q4-2025 Updates

Positive Updates

Telecom Scale and Financial Footprint

Liberty Telecom (4 national FMC operators) generates ~$22.0B of revenue and ~$8.0B of EBITDA on an aggregate basis; the company reports consolidated cash of $2.2B at year-end and expects to end 2026 with ~ $1.5B of corporate cash pro forma for announced transactions.

Major Strategic Transactions Announced

Agreement to acquire Vodafone's 50% stake in VodafoneZiggo for EUR 1.0B cash plus a 10% equity interest in new Ziggo Group; intention to list Ziggo on Euronext in 2027 and spin off 90% to Liberty Global shareholders. Nexfibre/Substantial Group transaction in the U.K.: Netomnia acquisition (enterprise value GBP 2.0B) to create an 8M home fiber platform by 2027; net payment at closing GBP 1.1B; Nexfibre fully financed with ~GBP 1.0B equity injection and ~GBP 2.7B debt facility.

Value Creation Targets from Deals

Management estimates operational synergies and incremental service revenues from the VodafoneZiggo/Telenet combination at ~EUR 1.0B NPV, targets to reduce combined leverage to ~4.5x and expects to generate ~ $500M of free cash flow by 2028 from the Ziggo Group story.

Corporate Restructuring and Cost Reduction

Net corporate spend reduced by ~75% over the last 12 months; Liberty Services and Corporate delivered negative $130M adjusted EBITDA in 2025, ~ $20M better than the $150M target.

Refinancing and Liquidity Actions

Proactively refinanced ~ $15B across credit silos, extending 2028/2029 maturities and maintaining average tenor around ~5 years; committed EUR 4.35B financing for Wyre (contingent on regulatory approval) to fund fiber carve-out and rebalance Telenet leverage.

Growth Portfolio and Asset Rotation

Liberty Growth fair market value ~ $3.4B with five assets representing ~70% of that value; data center assets (EdgeConneX and AtlasEdge) showing strong top-line growth supporting a >$1.0B year-end valuation; Formula E progressing (Gen4 car) and selective disposal activity ($180M partial ITV stake sale and full exit of Enfabrica).

Cash Returns and Buybacks

Repurchased ~5% of outstanding shares during the year (spent $34M in Q4); total buybacks of ~$15B over the last 9 years, reducing shares outstanding by ~63%.

Operational Momentum and AI Benefits

Management reports commercial and network momentum across OpCos in H2 2025, with AI beginning to deliver tangible benefits (customer service, operations and revenue opportunities); Liberty Blume grew revenue >20% in 2025, achieving >GBP 100M revenue and ~GBP 400M order book.

OpCo Free Cash Flow Delivery

Company stated it delivered against all free cash flow guidance metrics for the year across operating companies and JVs; specific 2026 free cash flow guidance includes VMO2 adjusted FCF ~GBP 200M, VodafoneZiggo adjusted FCF ~EUR 100M (no distributions planned), and Telenet adjusted FCF ~EUR 20M.

Negative Updates

VMO2 Revenue and EBITDA Pressure

Q4 reported VMO2 revenue declined 5.9%; adjusted EBITDA declined 2.4% on a reported basis in Q4 (decline of 1% in Q4 excluding Nexfibre construction profitability). Management cites lower Nexfibre construction revenues (fiber build slowdown) and sustained competitive pressure in fixed and mobile as drivers.

VodafoneZiggo and Telenet Near-Term Revenue/Profit Declines

VodafoneZiggo Q4 revenue declined 2.3% and adjusted EBITDA declined 3.4% (Q4); company expects mid- to high-single-digit decline in adjusted EBITDA in 2026 due to OpEx investments in network resilience and service reliability (EUR 100M incremental OpEx/CapEx in 2026). Telenet Q4 revenue declined 1.3% and adjusted EBITDA declined 9.9% driven by elevated labor and marketing costs and higher external services.

2026 Guidance Reflects Declines and Cautions

VMO2 2026 guidance expects total service revenue decline of 3%–5% and adjusted EBITDA decline of 3%–5% (adjusted for Daisy); VodafoneZiggo guided stable to low-single-digit revenue decline and mid-to-high single-digit adjusted EBITDA decline; management cites promotional intensity, B2B streamlining and a cautious fixed consumer outlook in the U.K.

Increased Wholesale Costs and Competitive UK Market

VMO2 guidance and margins are being pressured by higher wholesale fees to Nexfibre and an intensifying fixed consumer competitive environment in the U.K.; management flagged the market as more competitive and took a cautious view into 2026.

Telenet Debt and Refinancing Uncertainty

While committed financing (Wyre) and deleveraging plans exist, management paused a previously attempted refinancing tranche for Telenet amid choppy market conditions; refinancing and asset-sale timing remains sensitive to credit market appetite.

Near-Term Corporate Cash Reduction and Negative Corporate EBITDA

Pro forma transactions and expected asset sales/projects mean corporate cash is expected to be ~ $1.5B (down from $2.2B reported year-end); Liberty Corporate expected negative adjusted EBITDA of ~ $50M in 2026.

Notable Q4 Profitability Headwinds

Nexfibre construction slow-down reduced construction revenues and profitability at VMO2 in Q4; Telenet saw significant Y/Y adjusted EBITDA decline (-9.9%) from higher labour, marketing and professional services costs.

Company Guidance

Management gave 2026 guidance by operating company: VMO2 expects total service revenue and adjusted EBITDA to decline 3–5% year‑over‑year, property & equipment additions of GBP 2.0–2.2bn (ex‑right‑of‑use), adjusted free cash flow of ~GBP 200m and cash distributions of ~GBP 200m (guidance excludes the Nexfibre/Substantial Group transaction); VodafoneZiggo expects stable to low‑single‑digit revenue decline, mid‑ to high‑single‑digit adjusted EBITDA decline, P&E additions ~23–25% of revenue, EUR 100m of incremental OpEx+CapEx in 2026 (reducing to ~EUR 50m OpEx impact in 2027–28), adjusted free cash flow ~EUR 100m and no shareholder distributions; Telenet (IFRS, excl. Wyre) expects stable revenue, low‑single‑digit adjusted EBITDAaL growth, P&E additions ~20% of revenue and positive adjusted free cash flow of ~EUR 20m; Liberty Corporate expects ~$(50)m adjusted EBITDA. Additional metrics disclosed: consolidated cash at year‑end 2025 was $2.2bn, the Liberty Growth portfolio fair market value is $3.4bn, the company targets ~ $1.5bn corporate cash by end‑2026 pro forma for announced transactions, net corporate spend has been cut ~75% in 12 months, and the 2025 buyback repurchased 5% of shares (spend ~$34m) after reducing the buyback target from 10% to 5%.

Liberty Global A Financial Statement Overview

Summary

Financial quality is mixed. Revenue grew strongly (+24.9% TTM) and free cash flow is positive (~$1.45B, +21%), but profitability deteriorated sharply with deeply negative operating results and a sizable net loss (net margin ~-50.6%), driving negative ROE (~-15.6%). Leverage looks manageable (debt-to-equity ~0.72), but earnings volatility and the current loss profile are meaningful risks.

Income Statement

Negative

Revenue in TTM (Trailing-Twelve-Months) grew strongly (+24.9%), but profitability deteriorated sharply with deeply negative operating results and a sizable net loss (net margin about -50.6%). The prior year (2024) showed solid net profitability (net margin ~36.6%) and near-breakeven operating profit, highlighting high earnings volatility and weak underlying consistency.

Balance Sheet

Neutral

Leverage is moderate for the sector with debt-to-equity around 0.72 in TTM (Trailing-Twelve-Months) (roughly in line with 2024 at ~0.80), and equity remains sizable. However, returns to shareholders turned negative in TTM (Trailing-Twelve-Months) (ROE ~-15.6%), reflecting the recent loss and raising questions about near-term balance-sheet efficiency despite manageable leverage.

Cash Flow

Positive

Cash generation is a relative strength: TTM (Trailing-Twelve-Months) operating cash flow (~$1.21B) and free cash flow (~$1.45B) are positive, with free cash flow growth up ~21.0%. That said, operating cash flow coverage of earnings is less supportive in TTM (Trailing-Twelve-Months) versus recent years, and the sharp earnings swing means cash flows need to stay resilient to offset income statement weakness.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.88B	4.34B	4.12B	4.02B	10.31B
Gross Profit	1.29B	2.89B	2.83B	2.95B	7.29B
EBITDA	1.07B	987.90M	951.90M	1.27B	3.65B
Net Income	-7.14B	1.59B	-4.05B	1.47B	13.43B
Balance Sheet
Total Assets	22.60B	25.44B	42.09B	42.90B	46.92B
Cash, Cash Equivalents and Short-Term Investments	2.16B	2.15B	3.64B	4.35B	3.18B
Total Debt	10.16B	9.85B	10.23B	15.55B	16.19B
Total Liabilities	12.65B	12.90B	23.08B	20.32B	21.32B
Stockholders Equity	9.74B	12.37B	19.06B	22.44B	25.93B
Cash Flow
Free Cash Flow	-123.00M	1.12B	1.24B	1.95B	2.14B
Operating Cash Flow	1.22B	2.03B	2.17B	2.84B	3.55B
Investing Cash Flow	-883.90M	684.70M	-1.84B	1.28B	-5.80B
Financing Cash Flow	-226.10M	-2.25B	-692.40M	-3.28B	-1.55B

Liberty Global A Technical Analysis

Technical Analysis Sentiment

Positive

Last Price12.54

Price Trends

50DMA

11.09

Positive

100DMA

11.08

Positive

200DMA

10.78

Positive

Market Momentum

MACD

0.34

Negative

RSI

63.81

Neutral

STOCH

66.05

Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LBTYA, the sentiment is Positive. The current price of 12.54 is above the 20-day moving average (MA) of 11.37, above the 50-day MA of 11.09, and above the 200-day MA of 10.78, indicating a bullish trend. The MACD of 0.34 indicates Negative momentum. The RSI at 63.81 is Neutral, neither overbought nor oversold. The STOCH value of 66.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LBTYA.

Liberty Global A Peers Comparison

Overall Rating

UnderperformOutperform

Sector (60)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VEON	75 Outperform	$3.79B	5.96	53.38%	―	6.42%	―
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
TDS	60 Neutral	$4.88B	-42.17	2.54%	0.39%	-22.79%	79.90%
LBTYA	59 Neutral	$4.35B	-0.59	―	―	―	―
LUMN	55 Neutral	$8.19B	-4.59	―	―	-4.56%	23.46%
LILAK	51 Neutral	$1.57B	-2.64	-79.15%	―	-0.83%	-25.72%
LILA	49 Neutral	$1.57B	-2.61	-79.15%	―	-0.83%	-25.72%

* Communication Services Sector Average

Performance Comparison

LBTYA

Liberty Global A

12.54

1.17

10.29%

LUMN

Lumen Technologies

7.83

3.50

80.83%

LILA

Liberty Global LiLAC

8.01

1.06

15.25%

TDS

Telephone & Data Systems

45.29

8.78

24.05%

LILAK

Liberty LiLAC Group

8.10

1.19

17.22%

VEON

56.24

10.42

22.74%

Liberty Global A Corporate Events

Business Operations and StrategyDelistings and Listing ChangesM&A Transactions

Liberty Global to Acquire Vodafone’s Stake in VodafoneZiggo

Positive

Feb 18, 2026

On February 18, 2026, Liberty Global Ltd. announced a definitive agreement to acquire Vodafone Group’s 50% stake in their Dutch joint venture VodafoneZiggo for €1.0 billion in cash and a 10% equity interest in a new Benelux holding company, Ziggo Group. Ziggo Group will own Liberty Global’s interests in VodafoneZiggo in the Netherlands and Telenet in Belgium, while both operating companies retain their brands and capital structures under existing management teams.

The deal is designed to create a regional telecommunications powerhouse in the Benelux region with strong free‑cash‑flow potential, targeting combined adjusted free cash flow of about €500 million by 2028 and synergies valued at roughly €1 billion net of integration costs. Liberty Global plans to list Ziggo Group on Euronext Amsterdam in 2027 and ultimately spin off 90% of its stake to Liberty Global shareholders, with the acquisition expected to close in the second half of 2026 subject to regulatory and shareholder approvals.

The most recent analyst rating on (LBTYA) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on Liberty Global A stock, see the LBTYA Stock Forecast page.

Business Operations and StrategyFinancial Disclosures

Liberty Global Posts Strong 2025 Results, Streamlines Portfolio

Positive

Feb 18, 2026

Liberty Global reported its fourth-quarter and full-year 2025 results on February 18, 2026, highlighting stronger commercial momentum in its European telecom operations, including improved broadband additions at VMO2, record broadband performance at VodafoneZiggo, and the best broadband net adds in three years at Telenet, while Virgin Media Ireland advanced its fiber rollout and wholesale activity. The company also accelerated its capital rotation and balance-sheet strengthening by disposing of about $400 million in non-core assets, closing 2025 with $2.2 billion of corporate cash and refinancing nearly $15 billion of debt, alongside restructuring its corporate model to significantly cut adjusted EBITDA losses and reposition Liberty Blume within its growth portfolio to support long-term value creation for shareholders.

The most recent analyst rating on (LBTYA) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on Liberty Global A stock, see the LBTYA Stock Forecast page.

Business Operations and StrategyProduct-Related Announcements

Liberty Global, Google Cloud launch five-year AI partnership

Positive

Feb 3, 2026

On February 3, 2026, Liberty Global and Google Cloud announced a five-year strategic AI partnership aimed at accelerating Liberty Global’s digital transformation and embedding AI at scale across its European telecom operations. The agreement will integrate Google’s Gemini models into Liberty Global’s Horizon TV platform and customer-care channels to enhance content discovery and service responsiveness, while also exploring bundled offerings of Google hardware and services for customers of brands such as Virgin Media O2, Telenet, VodafoneZiggo, Virgin Media Ireland and Sunrise. The collaboration is designed to optimize Liberty Global’s network and cloud infrastructure through AI-first programs that boost scalability, security, data sovereignty and cost efficiencies, including development of more autonomous network operations and potential use of Liberty Global data centers and the Atlas Edge joint venture to support Google Cloud capacity. Both companies also plan to pursue new revenue streams in the SME market via joint go-to-market initiatives in cloud, cybersecurity and AI services, as well as carefully managed data monetization and brand activations around assets like Formula E and Liberty Blume, underscoring Liberty Global’s push to modernize its operations and expand growth opportunities across its portfolio.

The most recent analyst rating on (LBTYA) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Liberty Global A stock, see the LBTYA Stock Forecast page.

Business Operations and StrategyM&A Transactions

Liberty Global to Divest UPC Slovakia to O2 Slovakia

Positive

Dec 18, 2025

On December 17, 2025, Liberty Global agreed to sell its UPC Slovakia unit to O2 Slovakia, an affiliate of e&PPF Telecom, for a total transaction value of about €95 million ($110 million), valuing the business at roughly 7 times its estimated 2025 Adjusted EBITDA and about 15 times its estimated 2025 Adjusted EBITDA less P&E additions. UPC Slovakia is one of the largest providers of TV, broadband and telephony services in the Slovak Republic, serving more than 600,000 households in 80 cities with internet speeds of up to 2.5 Gbps, and the divestment, which is still subject to regulatory approval and customary closing conditions, marks a strategic reshaping of Liberty Global’s Central European footprint as it focuses its converged connectivity and investment platforms on markets and assets where it sees the greatest scope for long-term value creation.

The most recent analyst rating on (LBTYA) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on Liberty Global A stock, see the LBTYA Stock Forecast page.

Financial Disclosures

Liberty Global A Schedules 2025 Results Announcement

Neutral

Nov 24, 2025

Liberty Global announced it will release its full-year 2025 results on February 18, 2026, followed by an investor call to discuss the results and potentially provide forward-looking information. This announcement underscores the company’s commitment to transparency and engagement with stakeholders, potentially impacting its market positioning and investor relations.

The most recent analyst rating on (LBTYA) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Liberty Global A stock, see the LBTYA Stock Forecast page.

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Feb 19, 2026