Liberty Media Corp (FWONA)

Formula One Group, together with its subsidiaries, engages in the motorsports business in the United States, the United Kingdom, Spain, and internationally. The company holds commercial rights for the Fédération Internationale de l'Automobile (FIA) Formula One World Championship, an annual nine-month long motor race-based competition in which teams compete for the Constructors' championship and drivers compete for the Drivers' championship. It is also involved in filming, television production and post-production, and digital and social media activities; provision of freight, logistical, and travel related services, as well as technical support at Formula 1 events; production of the international television feed; and operation of the Formula 1 Paddock Club hospitality program, F2 and F3 race series, and F1 Academy. The company was founded in 1950 and is headquartered in Englewood, Colorado. Formula One Group operates as a subsidiary of Liberty Media Corporation.

Ticker: FWONA
Exchange: Nasdaq
Sector: Communication Services
Industry: Entertainment
Market cap: $25.33B
52-week range: $73.70 - $102.00

Valuation

Share price: $101.01 (close of Nov 6, 2026)
P/E (TTM): 45.33x
Price to book: 3.22x
Price to free cash flow: 25.90x
Enterprise value: $28.52B
Book value per share: $31.41

Price performance

Period	Change
1 day	+1.29%
5 days	+18.65%
1 month	+15.14%
3 months	+10.68%
6 months	+23.68%
Year to date	+13.01%
1 year	+7.79%
3 years	+75.94%
5 years	+97.52%
10 years	+287.46%
All time	+423.03%

Short interest

As of: Oct 15, 2026
Short % of float: 4.50%
Shares short: 1.07M
Days to cover: 4.86
Change since prior report: -10.43%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 7.15%
Return on invested capital: 3.42%
Return on assets: 3.60%
Return on capital employed: 3.99%
Gross margin: 24.34%
Net margin: 12.38%
EBITDA margin: 21.64%
Revenue growth: 22.69%
Free cash flow growth: 60.37%

Cash flow and balance sheet

Free cash flow yield (TTM): 3.86%
Current ratio: 1.32x
Net debt to EBITDA: 2.70x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $4.48B
Cost of revenue: $3.39B
Gross profit: $1.09B
EBITDA: $970.00M
Net income: $555.00M
Earnings per share: $2.22
Interest expense: $249.00M
Shares outstanding: 250.00M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$4.48B	$1.09B	$555.00M	$2.22
2024-12-31	$3.65B	$708.00M	-$2.06B	-$8.60
2023-12-31	$3.57B	$925.00M	$761.00M	$3.24
2022-12-31	$3.16B	$538.00M	$1.81B	$7.79
2021-12-31	$11.40B	$3.88B	$398.00M	$0.00
2020-12-31	$9.36B	$1.93B	-$1.42B	$0.00
2019-12-31	$10.29B	$3.27B	$106.00M	$0.00
2018-12-31	$8.04B	$2.69B	$531.00M	$0.00
2017-12-31	$7.59B	$2.54B	$1.35B	$0.00
2016-12-31	$5.28B	$2.62B	$680.00M	$0.00

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	24.34%	12.38%	7.15%	3.42%
2024-12-31	19.38%	-56.47%	-29.26%	2.42%
2023-12-31	25.90%	21.30%	3.91%	1.08%
2022-12-31	17.02%	57.42%	9.49%	0.66%
2021-12-31	34.07%	3.49%	2.18%	5.16%
2020-12-31	20.58%	-15.18%	-7.25%	0.47%
2019-12-31	31.82%	1.03%	0.48%	3.43%
2018-12-31	33.46%	6.60%	2.45%	3.80%
2017-12-31	33.46%	17.83%	6.00%	3.82%
2016-12-31	49.66%	12.89%	3.84%	4.81%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$1.05B	$5.05B
2024-12-31	$2.63B	$2.97B
2023-12-31	$1.41B	$4.12B
2022-12-31	$1.88B	$14.95B
2021-12-31	$2.81B	$15.70B
2020-12-31	$2.83B	$16.69B
2019-12-31	$1.22B	$15.42B
2018-12-31	$358.00M	$13.37B
2017-12-31	$1.03B	$13.19B
2016-12-31	$562.00M	$8.01B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$789.00M	$21.00M
2024-12-31	$492.00M	$30.00M
2023-12-31	$2.00B	$27.00M
2022-12-31	$2.24B	$28.00M
2021-12-31	$2.00B	$256.00M
2020-12-31	$1.28B	$261.00M
2019-12-31	$1.80B	$312.00M
2018-12-31	$1.75B	$192.00M
2017-12-31	$1.22B	$230.00M
2016-12-31	$1.60B	$150.00M

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-05	Sep 2026	$0.60
2026-08-06	Jun 2026	$0.31
2026-05-07	Mar 2026	-$0.28
2026-02-26	Dec 2025	$0.44
2025-11-05	Sep 2025	$0.47
2025-08-07	Jun 2025	$0.52
2025-05-07	Mar 2025	$0.02
2025-02-27	Dec 2024	$0.58

Filings and sources

Company website: libertymedia.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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All Communication Services companies

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Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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