A Business at a Glance
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Liberty Media Corp
FWONA
$22.6B
Mkt Cap
$89.07
+0.41%
Liberty Media Corp (FWONA) has a current P/E ratio of 41.0, compared to its historical median P/E of 20.8. The stock is currently considered Expensive based on its historical valuation range.
Liberty Media Corp (FWONA) has a 5-year average return on invested capital (ROIC) of 3.9%. This is below average and may indicate limited pricing power.
Liberty Media Corp (FWONA) does not currently pay a regular dividend.
Based on historical P/E analysis, Liberty Media Corp (FWONA) appears expensive. The current P/E of 41.0 is 97% above its historical median of 20.8. The estimated fair value CAGR (P/E method) is 5.5%.
Liberty Media Corp (FWONA) operates in the Television Broadcasting Stations industry, within the Communication Services sector.
Liberty Media Corp (FWONA) reported annual revenue of $4.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Liberty Media Corp (FWONA) has a net profit margin of 12.4%. This is a healthy margin.
Item 1. Business. General Development of Business Liberty Media Corporation (“Liberty”, the “Company”, “we”, “us” and “our”), through its subsidiaries, is primarily engaged in the motorsport and live entertainment industries with events held worldwide and operations primarily headquartered in the United Kingdom (“U.K.”) and Spain. Our most significant subsidiaries include Delta Topco Limited (the parent company of Formula 1) (“Delta Topco”) and MotoGP. Braves Holdings, LLC ("Braves Holdings") was a subsidiary of the Company until the Atlanta Braves Holdings Split-Off (defined below) on July 18, 2023. Sirius XM Holdings Inc. (“Sirius XM Holdings”) was a subsidiary of the Company until the Liberty Sirius XM Holdings Split-Off (defined below) on September 9, 2024. QuintEvents, LLC (“QuintEvents”) was a subsidiary of the Company and Live Nation Entertainment, Inc. (“Live Nation”) was an equity affiliate of the Company until the Liberty Live Split-Off (defined below) on December 15, 2025.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.7B | 4.5B | 3.7B | 3.6B | 3.2B | 11.4B |
| Net Income | 607M | 555M | -2.1B | 761M | 1.8B | 398M |
| EPS | $0.00 | - | - | - | - | - |
| Free Cash Flow | 778M | 789M | 492M | 2.0B | 2.2B | 2.0B |
| ROIC | 15.1% | 4.9% | 2.2% | 0.8% | 5.9% | 5.9% |
| Gross Margin | - | 38.7% | 34.7% | 59.2% | 52.5% | 49.1% |
| Debt/Equity | 0.00 | 0.66 | 0.43 | 0.28 | 1.15 | 1.49 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 712M | 577M | 287M | 266M | 145M | 2.0B |
| Operating Margin | 15.0% | 12.9% | 7.9% | 7.4% | 4.6% | 17.3% |
| ROE | 0.0% | 7.5% | -17.6% | 4.7% | 11.8% | 2.7% |
| Shares Outstanding | 0M | - | - | - | - | - |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 3.5B | 3.8B | 5.3B | 7.6B | 8.0B | 10.3B | 9.4B | 11.4B | 3.2B | 3.6B | 3.7B | 4.5B | 4.7B |
| Gross Margin | 43.7% | 48.9% | 72.3% | 55.1% | 57.1% | 53.0% | 38.9% | 49.1% | 52.5% | 59.2% | 34.7% | 38.7% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 873M | 861M | 886M | 1.1B | 1.2B | 1.8B | 1.8B | 1.9B | 393M | 659M | 421M | 514M | 532M |
| EBIT | 841M | 954M | 1.7B | 1.4B | 1.5B | 1.5B | 177M | 2.0B | 145M | 266M | 287M | 577M | 712M |
| Op. Margin | 23.9% | 25.1% | 32.9% | 18.4% | 18.8% | 14.3% | 1.9% | 17.3% | 4.6% | 7.4% | 7.9% | 12.9% | 15.0% |
| Net Income | 178M | 64M | 680M | 1.4B | 531M | 106M | -1.4B | 398M | 1.8B | 761M | -2.1B | 555M | 607M |
| Net Margin | 5.1% | 1.7% | 12.9% | 17.8% | 6.6% | 1.0% | -15.2% | 3.5% | 57.4% | 21.3% | -56.5% | 12.4% | 12.8% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 84M | 2.0B | 44M | 79M | 93M | 146M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 4.1% | 3.4% | 6.2% | 5.7% | 4.2% | 3.3% | 0.6% | 5.9% | 5.9% | 0.8% | 2.2% | 4.9% | 15.1% |
| ROE | 1.4% | 0.6% | 6.0% | 9.4% | 3.2% | 0.6% | -9.1% | 2.7% | 11.8% | 4.7% | -17.6% | 7.5% | 0.0% |
| ROA | 0.5% | 0.2% | 2.2% | 3.7% | 1.3% | 0.2% | -3.2% | 0.9% | 4.2% | 1.8% | -7.6% | 3.9% | 3.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.1B | 1.2B | 2.2B | 1.7B | 2.2B | 2.3B | 1.7B | 2.4B | 2.5B | 2.5B | 567M | 908M | 884M |
| Free Cash Flow | 931M | 936M | 1.6B | 1.2B | 1.8B | 1.8B | 1.3B | 2.0B | 2.2B | 2.0B | 492M | 789M | 778M |
| Owner Earnings | 407M | 320M | 1.2B | 447M | 668M | 483M | 386M | 1.1B | 2.1B | 2.0B | 185M | 494M | 432M |
| CapEx | 194M | 296M | 568M | 517M | 403M | 510M | 452M | 440M | 309M | 461M | 75M | 119M | 106M |
| Maint. CapEx | 501M | 708M | 830M | 1.1B | 1.3B | 1.5B | 1.1B | 1.1B | 433M | 406M | 352M | 393M | 428M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 55M | 0 | 0 | 0 |
| D&A | 501M | 708M | 830M | 1.1B | 1.3B | 1.5B | 1.1B | 1.1B | 433M | 406M | 352M | 393M | 428M |
| CapEx/OCF | 17.2% | 24.0% | 26.2% | 29.8% | 18.7% | 22.0% | 26.1% | 18.1% | 28.9% | 72.7% | 13.2% | 13.1% | 12.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 350M | 0 | 0 | 466M | 443M | 318M | 555M | 37M | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | 3.9% | N/A | N/A | 6.2% | 4.5% | 3.7% | 4.4% | 3.6% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 217M | 204M | 150M | 230M | 192M | 312M | 261M | 256M | 28M | 27M | 30M | 21M | 24M |
| Debt Repayment | 1.9B | 1.2B | 1.7B | 5.1B | 4.1B | 4.9B | 2.9B | 6.3B | 4.8B | 90M | 677M | 781M | 781M |
| Balance Sheet | |||||||||||||
| Net Debt | 5.0B | 6.7B | 7.2B | 12.9B | 13.0B | 14.7B | 15.8B | 19.1B | 16.5B | 3.3B | 361M | 4.0B | 3.7B |
| Cash & Equiv. | 681M | 201M | 562M | 1.0B | 358M | 1.2B | 2.8B | 2.8B | 1.9B | 1.4B | 2.6B | 1.1B | 1.3B |
| Long-Term Debt | 5.6B | 6.6B | 8.0B | 13.2B | 13.4B | 15.4B | 16.7B | 15.7B | 15.0B | 4.1B | 3.0B | 5.0B | 5.0B |
| Debt/Equity | 0.51 | 0.63 | 0.68 | 0.82 | 0.81 | 0.98 | 1.23 | 1.49 | 1.15 | 0.28 | 0.43 | 0.66 | 0.00 |
| Interest Coverage | 3.3 | 2.9 | 4.8 | 2.4 | 2.5 | 2.2 | 0.3 | 3.1 | 0.2 | 0.3 | 1.4 | 2.3 | 2.7 |
| Equity | 11.4B | 10.9B | 11.8B | 16.9B | 16.6B | 16.3B | 15.1B | 14.7B | 16.0B | 16.4B | 7.0B | 7.8B | -1.0M |
| Total Assets | 30.3B | 29.8B | 31.4B | 42.0B | 40.8B | 44.2B | 44.0B | 44.4B | 42.5B | 41.3B | 13.0B | 15.4B | 15.9B |
| Total Liabilities | 10.1B | 11.7B | 13.7B | 19.4B | 19.1B | 22.3B | 24.4B | 25.5B | 23.3B | 21.9B | 6.0B | 6.9B | 7.5B |
| Intangibles | 1.2B | 1.1B | 1.1B | 6.2B | 5.7B | 5.9B | 5.4B | 4.8B | 4.3B | 2.9B | 2.7B | 5.1B | 5.0B |
| Retained Earnings | 11.4B | 11.0B | 11.7B | 13.1B | 13.6B | 13.7B | 12.3B | 12.7B | 14.6B | 15.1B | 7.2B | 7.8B | 7.8B |
| Working Capital | -1.3B | -2.1B | -1.8B | -2.2B | -2.2B | -1.5B | -460M | -1.8B | -1.6B | -1.4B | 2.2B | 434M | 504M |
| Current Assets | 1.4B | 691M | 1.0B | 1.7B | 1.1B | 2.4B | 4.0B | 4.8B | 3.9B | 3.4B | 3.3B | 1.4B | 2.0B |
| Current Liabilities | 2.6B | 2.8B | 2.9B | 4.0B | 3.2B | 3.9B | 4.5B | 6.6B | 5.4B | 4.7B | 1.1B | 939M | 1.5B |
| Per Share Data | |||||||||||||
| EPS | 0.52 | 0.19 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Owner EPS | 1.19 | 0.95 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Book Value | 33.30 | 32.46 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Cash Flow/Share | 3.29 | 3.66 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 342.3M | 336.8M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0M |
| Valuation | |||||||||||||
| P/E Ratio | 45.6 | 140.8 | 27.6 | 9.7 | 14.1 | N/A | N/A | 32.0 | 13.6 | N/A | N/A | 40.8 | N/A |
| P/FCF | 8.6 | 9.5 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | 15.6 | 16.5 | 8.0 | 18.6 | 13.3 | 15.6 | 118.7 | 14.5 | 12.0 | 55.0 | 59.2 | 44.5 | 5.2 |
| Price/Book | 0.7 | 0.8 | 0.6 | 0.8 | 0.4 | 0.6 | 0.6 | 0.9 | 0.7 | 0.8 | 2.7 | 2.9 | N/A |
| Price/Sales | 2.4 | 2.3 | 1.3 | 1.8 | 1.0 | 0.8 | 0.8 | 0.8 | 1.0 | 3.8 | 4.2 | 5.0 | N/A |
| FCF Yield | 11.5% | 10.4% | 23.1% | 9.2% | 23.5% | 18.3% | 15.0% | 15.7% | 20.3% | 15.3% | 2.6% | 3.5% | N/A |
| Market Cap | 8.1B | 9.0B | 6.9B | 13.2B | 7.5B | 9.9B | 8.5B | 12.7B | 11.0B | 13.1B | 19.2B | 22.6B | 0 |
| Avg. Price | 23.77 | 25.56 | 23.52 | 32.28 | 30.68 | 35.21 | 32.83 | 42.24 | 54.09 | 60.68 | 67.92 | 87.69 | 89.07 |
| Year-End Price | 23.28 | 26.28 | 30.39 | 31.70 | 27.76 | 42.08 | 37.47 | 55.87 | 49.94 | 58.29 | 84.94 | 88.52 | 89.07 |
Liberty Media Corp passes 0 of 9 quality checks, indicating weak fundamentals.
Liberty Media Corp trades at 41.0x trailing earnings, compared to its 15-year median P/E of 20.8x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 3.9% with a gross margin of 46.8%. At current prices, the estimated annualized return to fair value is +5.5%.
Liberty Media Corp (FWONA) generated $789 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Liberty Media Corp (FWONA) has a debt-to-equity ratio of 0.66. This indicates moderate leverage.
Liberty Media Corp (FWONA) has a return on equity (ROE) of 7.5%. This indicates moderate shareholder returns.
Liberty Media Corp (FWONA) has a 5-year average gross margin of 46.8%. This indicates decent pricing power.
The Ledger Terminal provides 16 years of financial data for Liberty Media Corp (FWONA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
No recent press releases.