Formula One Group (FWONK) 10-Year Financial Performance & Capital Metrics

FWONK • • Industrial / General

Communication ServicesEntertainmentLive Events & Venue OperationsSports Franchises & Leagues

AboutFormula One Group engages in the motorsports business in the United States and internationally. It holds commercial rights for the world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. The company was founded in 1950 and is based in Englewood, Colorado. Formula One Group is a subsidiary of Liberty Media Corporation.Show more

Revenue $3.65B +13.4%
EBITDA $639M -4.1%
Net Income -$30M -116.2%
EPS (Diluted) -0.12 -119.4%
Gross Margin 31.89% +4.6%
EBITDA Margin 17.49% -15.4%
Operating Margin 7.86% -14.8%
Net Margin -0.82% -114.3%
ROE -0.43% -115.7%
ROIC 2.75% -0.9%
Debt/Equity 0.40 -10.5%
Interest Coverage 1.38 -0.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 12.6%

✗Weaknesses

✗Weak 3Y average ROE of 3.5%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y51.07%

5Y12.56%

3Y19.59%

TTM8.53%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-49.26%

EPS CAGR

10Y-

5Y-

3Y-

TTM-29.56%

ROCE

10Y Avg1.9%

5Y Avg0.77%

3Y Avg2.52%

Latest2.85%

Peer Comparison

Sports Franchises & Leagues

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TKOTKO Group Holdings, Inc.	16.49B	208.88	3818.65	67.43%	5.27%	2.42%	3.08%	0.35
HOFVHall of Fame Resort & Entertainment Company	2.35M	0.35	-0.04	-12.12%	-366.24%	-207.29%		3.45
BATRKAtlanta Braves Holdings, Inc.	2.07B	40.13	-80.26	3.45%	-0.69%	-1.79%		1.34
BATRAAtlanta Braves Holdings, Inc.	445.64M	43.19	-86.38	3.45%	-0.06%	-0.16%		1.34
MANUManchester United plc	947.86M	16.90	-88.95	0.72%	-4.95%	-17.05%	2.95%	3.33
MSGSMadison Square Garden Sports Corp.	5.54B	283.55	-304.89	1.18%	-2.31%		1.59%
FWONKFormula One Group	20.24B	90.50	-754.17	13.38%	5.08%	2.53%	2.43%	0.40

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	4.79B	0	1.78B	1.83B	2.02B	1.15B	2.14B	2.57B	3.22B	3.65B
Revenue Growth %	80.27%	-1%	-	0.02%	0.11%	-0.43%	0.87%	0.2%	0.25%	0.13%
Cost of Goods Sold+	2.72B	10M	1.22B	1.27B	1.39B	974M	1.49B	1.75B	2.24B	2.49B
COGS % of Revenue	0.57%	-	0.68%	0.7%	0.69%	0.85%	0.7%	0.68%	0.7%	0.68%
Gross Profit+	2.08B	-10M	564M	554M	628M	171M	647M	823M	982M	1.17B
Gross Margin %	0.43%	-	0.32%	0.3%	0.31%	0.15%	0.3%	0.32%	0.3%	0.32%
Gross Profit Growth %	34.2%	-1%	57.4%	-0.02%	0.13%	-0.73%	2.78%	0.27%	0.19%	0.19%
Operating Expenses+	81M	58M	604M	664M	663M	615M	607M	650M	685M	878M
OpEx % of Revenue	0.02%	-	0.34%	0.36%	0.33%	0.54%	0.28%	0.25%	0.21%	0.24%
Selling, General & Admin	72M	58M	199M	204M	210M	174M	210M	288M	316M	408M
SG&A % of Revenue	0.02%	-	0.11%	0.11%	0.1%	0.15%	0.1%	0.11%	0.1%	0.11%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	9M	21M	405M	460M	453M	441M	397M	362M	369M	470M
Operating Income+	-81M	443M	-40M	-110M	-35M	-444M	40M	173M	297M	287M
Operating Margin %	-0.02%	-	-0.02%	-0.06%	-0.02%	-0.39%	0.02%	0.07%	0.09%	0.08%
Operating Income Growth %	0.3%	6.47%	-1.09%	-1.75%	0.68%	-11.69%	1.09%	3.33%	0.72%	-0.03%
EBITDA+	-72M	453M	365M	350M	418M	-3M	437M	535M	666M	639M
EBITDA Margin %	-0.02%	-	0.2%	0.19%	0.21%	-0%	0.2%	0.21%	0.21%	0.17%
EBITDA Growth %	0.28%	7.29%	-0.19%	-0.04%	0.19%	-1.01%	146.67%	0.22%	0.24%	-0.04%
D&A (Non-Cash Add-back)	9M	10M	405M	460M	453M	441M	397M	362M	369M	352M
EBIT	-81M	-68M	-84M	-8M	-206M	-560M	-34M	400M	425M	225M
Net Interest Income+	0	0	-220M	-192M	-195M	-139M	-123M	-149M	-214M	-208M
Interest Income	0	0	0	0	0	7M	0	0	0	0
Interest Expense	20M	19M	220M	192M	195M	146M	123M	149M	214M	208M
Other Income/Expense	-196M	57M	-264M	-90M	-366M	-262M	-197M	78M	-86M	-270M
Pretax Income+	-277M	500M	-304M	-200M	-401M	-706M	-157M	251M	211M	17M
Pretax Margin %	-0.06%	-	-0.17%	-0.11%	-0.2%	-0.62%	-0.07%	0.1%	0.07%	0%
Income Tax+	-102M	171M	-561M	-50M	-90M	-112M	-37M	-311M	27M	47M
Effective Tax Rate %	0.63%	0.66%	-0.84%	0.75%	0.78%	0.84%	1.21%	2.22%	0.88%	-1.76%
Net Income+	-175M	329M	255M	-150M	-311M	-596M	-190M	558M	185M	-30M
Net Margin %	-0.04%	-	0.14%	-0.08%	-0.15%	-0.52%	-0.09%	0.22%	0.06%	-0.01%
Net Income Growth %	-5.03%	2.88%	-0.22%	-1.59%	-1.07%	-0.92%	0.68%	3.94%	-0.67%	-1.16%
Net Income (Continuing)	-175M	329M	257M	-150M	-311M	-594M	-120M	562M	184M	-30M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	7.2B	5.96B	2M	3M	2M	5M	600M	25M	0	0
EPS (Diluted)+	-0.38	1.02	1.21	-0.65	-1.35	-2.57	-0.82	2.15	0.62	-0.12
EPS Growth %	-5.23%	3.68%	0.19%	-1.54%	-1.08%	-0.9%	0.68%	3.62%	-0.71%	-1.19%
EPS (Basic)	-0.38	1.03	1.23	-0.65	-1.35	-2.57	-0.82	2.39	0.79	-0.13
Diluted Shares Outstanding	463.02M	321.01M	211M	232M	231M	232M	232M	244M	234.62M	240M
Basic Shares Outstanding	463.02M	318.01M	207M	231M	231M	232M	232M	233M	234M	230.77M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	97M	175M	479M	310M	748M	2.26B	2.37B	2.02B	1.71B	3.02B
Cash & Short-Term Investments	76M	168M	282M	160M	587M	1.68B	2.07B	1.73B	1.41B	2.63B
Cash Only	76M	168M	282M	160M	587M	1.68B	2.07B	1.73B	1.41B	2.63B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	3M	2M	84M	110M	69M	121M	66M	123M	123M	114M
Days Sales Outstanding	0.23	-	17.2	21.98	12.46	38.57	11.28	17.45	13.93	11.39
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	18M	5M	113M	40M	92M	459M	229M	167M	180M	277M
Total Non-Current Assets+	1.85B	2.82B	11.32B	10.65B	10.76B	8.93B	9.29B	8.99B	8.56B	8.74B
Property, Plant & Equipment	104M	89M	95M	90M	112M	124M	119M	408M	838M	810M
Fixed Asset Turnover	46.11x	-	18.77x	20.30x	18.05x	9.23x	17.95x	6.31x	3.84x	4.51x
Goodwill	14.35B	0	3.96B	3.96B	3.96B	3.96B	3.96B	3.96B	3.96B	4.13B
Intangible Assets	10.77B	1M	5.11B	4.74B	4.3B	3.88B	3.51B	3.16B	2.86B	2.69B
Long-Term Investments	1.45B	2.38B	1.66B	1.45B	1.17B	207M	221M	253M	41M	33M
Other Non-Current Assets	303M	350M	470M	325M	1.21B	757M	1.49B	1.21B	255M	494M
Total Assets+	1.95B	3B	11.8B	10.96B	11.51B	11.19B	11.66B	11.02B	10.27B	11.76B
Asset Turnover	2.46x	-	0.15x	0.17x	0.18x	0.10x	0.18x	0.23x	0.31x	0.31x
Asset Growth %	-0.94%	0.53%	2.94%	-0.07%	0.05%	-0.03%	0.04%	-0.06%	-0.07%	0.15%
Total Current Liabilities+	-124M	31M	305M	360M	426M	692M	1.3B	833M	787M	1.13B
Accounts Payable	17M	16M	258M	233M	264M	150M	308M	396M	472M	645M
Days Payables Outstanding	2.28	584	77.25	66.81	69.12	56.21	75.5	82.59	76.91	94.62
Short-Term Debt	0	0	0	0	0	209M	695M	61M	36M	26M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	-17M	15M	39M	34M	17M	17M	23M	29M	32M	192M
Current Ratio	-	5.65x	1.57x	0.86x	1.76x	3.27x	1.83x	2.43x	2.17x	2.67x
Quick Ratio	-	5.65x	1.57x	0.86x	1.76x	3.27x	1.83x	2.43x	2.17x	2.67x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	1.09B	1.68B	5.83B	5.04B	5.84B	3.94B	3.43B	3.25B	3.06B	3.24B
Long-Term Debt	1.03B	1.58B	5.8B	5.04B	5.68B	3.55B	2.94B	2.89B	2.87B	2.97B
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	1.67B	39M	-31M	-91M	0	0	0	0	3M	0
Other Non-Current Liabilities	-1.61B	56M	30M	5M	161M	394M	492M	362M	188M	275M
Total Liabilities	969M	1.71B	6.13B	5.4B	6.26B	4.64B	4.72B	4.08B	3.85B	4.37B
Total Debt+	1.03B	1.58B	5.8B	5.04B	5.68B	3.76B	3.63B	2.95B	2.91B	2.99B
Net Debt	957M	1.42B	5.51B	4.88B	5.09B	2.08B	1.56B	1.21B	1.5B	361M
Debt / Equity	0.13x	0.22x	1.02x	0.91x	1.08x	0.57x	0.52x	0.42x	0.45x	0.40x
Debt / EBITDA	-	3.49x	15.88x	14.40x	13.58x	-	8.31x	5.51x	4.36x	4.68x
Net Debt / EBITDA	-	3.12x	15.11x	13.94x	12.18x	-	3.56x	2.27x	2.25x	0.56x
Interest Coverage	-4.05x	23.32x	-0.18x	-0.57x	-0.18x	-3.04x	0.33x	1.16x	1.39x	1.38x
Total Equity+	8.18B	7.25B	5.67B	5.55B	5.24B	6.55B	6.94B	6.93B	6.42B	7.39B
Equity Growth %	-0.59%	-0.11%	-0.22%	-0.02%	-0.06%	0.25%	0.06%	-0%	-0.07%	0.15%
Book Value per Share	17.67	22.57	26.88	23.94	22.69	28.25	29.91	28.42	27.36	30.78
Total Shareholders' Equity	983M	1.29B	5.67B	5.55B	5.24B	6.55B	6.34B	6.91B	6.42B	7.39B
Common Stock	3M	1M	2M	2M	0	0	0	0	0	0
Retained Earnings	10.98B	0	0	0	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-93M	-71M	-77M	-88M	0	0	0	0	0	0
Minority Interest	7.2B	5.96B	2M	3M	2M	5M	600M	25M	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-35M	378M	-75M	268M	294M	-139M	481M	534M	619M	567M
Operating CF Margin %	-0.01%	-	-0.04%	0.15%	0.15%	-0.12%	0.23%	0.21%	0.19%	0.16%
Operating CF Growth %	-1.03%	11.8%	-1.2%	4.57%	0.1%	-1.47%	4.46%	0.11%	0.16%	-0.08%
Net Income	-175M	329M	257M	-150M	-311M	-594M	-120M	562M	185M	-30M
Depreciation & Amortization	9M	10M	405M	460M	453M	441M	397M	362M	369M	352M
Stock-Based Compensation	37M	13M	32M	25M	28M	21M	29M	16M	20M	30M
Deferred Taxes	-101M	126M	-529M	-71M	-112M	-102M	-46M	-415M	-158M	-72M
Other Non-Cash Items	192M	-71M	42M	-94M	178M	140M	78M	-107M	71M	352M
Working Capital Changes	3M	-29M	-282M	98M	58M	-45M	143M	116M	132M	-65M
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	-12M	-359M	133M	38M	-8M	0	0	0	0
Cash from Investing+	-38M	-641M	-1.66B	227M	37M	75M	-600M	394M	-510M	-292M
Capital Expenditures	-33M	-2M	-10M	-14M	-44M	-21M	-17M	-291M	-426M	-75M
CapEx % of Revenue	0.01%	-	0.01%	0.01%	0.02%	0.02%	0.01%	0.11%	0.13%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1M	49M	-3M	6M	24M	12M	-72M	733M	-21M	-15M
Cash from Financing+	-373M	355M	1.85B	-616M	96M	1.16B	512M	-1.27B	-435M	965M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.04B	-81M	-18M	-3M	-2M	573M	314M	91M	-356M	58M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-68M	376M	-85M	254M	250M	-160M	464M	243M	193M	492M
FCF Margin %	-0.01%	-	-0.05%	0.14%	0.12%	-0.14%	0.22%	0.09%	0.06%	0.13%
FCF Growth %	-1.07%	6.53%	-1.23%	3.99%	-0.02%	-1.64%	3.9%	-0.48%	-0.21%	1.55%
FCF per Share	-0.15	1.17	-0.40	1.09	1.08	-0.69	2.00	1.00	0.82	2.05
FCF Conversion (FCF/Net Income)	0.20x	1.15x	-0.29x	-1.79x	-0.95x	0.23x	-2.53x	0.96x	3.35x	-18.90x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-1.23%	4.27%	3.95%	-2.67%	-5.76%	-10.11%	-2.82%	8.04%	2.77%	-0.43%
Return on Invested Capital (ROIC)	-0.35%	3.73%	-0.3%	-0.76%	-0.25%	-3.51%	0.35%	1.56%	2.77%	2.75%
Gross Margin	43.32%	-	31.63%	30.32%	31.06%	14.93%	30.29%	31.99%	30.48%	31.89%
Net Margin	-3.65%	-	14.3%	-8.21%	-15.38%	-52.05%	-8.9%	21.69%	5.74%	-0.82%
Debt / Equity	0.13x	0.22x	1.02x	0.91x	1.08x	0.57x	0.52x	0.42x	0.45x	0.40x
Interest Coverage	-4.05x	23.32x	-0.18x	-0.57x	-0.18x	-3.04x	0.33x	1.16x	1.39x	1.38x
FCF Conversion	0.20x	1.15x	-0.29x	-1.79x	-0.95x	0.23x	-2.53x	0.96x	3.35x	-18.90x
Revenue Growth	8027.12%	-100%	-	2.47%	10.67%	-43.37%	86.55%	20.46%	25.22%	13.38%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Formula 1	-	-	-	-	-	-	-	-	-	3.32B
Formula 1 Growth	-	-	-	-	-	-	-	-	-	-
Other	-	-	-	-	-	-	-	-	350M	335M
Other Growth	-	-	-	-	-	-	-	-	-	-4.29%
Subscriber	-	-	-	-	-	-	6.61B	6.89B	6.87B	-
Subscriber Growth	-	-	-	-	-	-	-	4.20%	-0.38%	-
Advertising	-	-	-	-	-	-	1.73B	1.77B	1.76B	-
Advertising Growth	-	-	-	-	-	-	-	2.43%	-0.79%	-
Equipment	-	-	-	-	-	-	201M	189M	193M	-
Equipment Growth	-	-	-	-	-	-	-	-5.97%	2.12%	-
Other.	-	-	-	-	-	-	568M	588M	-	-
Other. Growth	-	-	-	-	-	-	-	3.52%	-	-
Sirius Xm Holdings Revenue	-	-	-	-	7.79B	8.04B	-	-	-	-
Sirius Xm Holdings Revenue Growth	-	-	-	-	-	3.16%	-	-	-	-
Subscription And Circulation	-	-	-	4.59B	-	-	-	-	-	-
Subscription And Circulation Growth	-	-	-	-	-	-	-	-	-	-
Formula	-	-	-	1.83B	-	-	-	-	-	-
Formula Growth	-	-	-	-	-	-	-	-	-	-
Sirius Xm	4.55B	5.01B	5.42B	-	-	-	-	-	-	-
Sirius Xm Growth	-	10.15%	8.20%	-	-	-	-	-	-	-
Formula One	-	-	1.78B	-	-	-	-	-	-	-
Formula One Growth	-	-	-	-	-	-	-	-	-	-
Corporate And Other	243M	262M	386M	-	-	-	-	-	-	-
Corporate And Other Growth	-	7.82%	47.33%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	-	-	-	-	-	-	335M
UNITED STATES Growth	-	-	-	-	-	-	-	-	-	-
Other Countries	-	-	-	-	-	-	101M	111M	104M	-
Other Countries Growth	-	-	-	-	-	-	-	9.90%	-6.31%	-
United States	-	-	-	-	-	-	9.16B	9.48B	-	-
United States Growth	-	-	-	-	-	-	-	3.46%	-	-
Other Country Other Than Us And Uk	-	-	87M	-	98M	97M	-	-	-	-
Other Country Other Than Us And Uk Growth	-	-	-	-	-	-1.02%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Formula One Group (FWONK) reported $4.03B in revenue for fiscal year 2024. This represents a 186% increase from $1.41B in 2011.

Formula One Group (FWONK) grew revenue by 13.4% over the past year. This is steady growth.

Yes, Formula One Group (FWONK) is profitable, generating $205.0M in net income for fiscal year 2024 (-0.8% net margin).

Dividend & Returns

Formula One Group (FWONK) has a return on equity (ROE) of -0.4%. Negative ROE indicates the company is unprofitable.

Formula One Group (FWONK) generated $674.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Formula One Group (FWONK) 10-Year Financial Performance & Capital Metrics

FWONK • • Industrial / General

Communication ServicesEntertainmentLive Events & Venue OperationsSports Franchises & Leagues

Revenue $3.65B +13.4%
EBITDA $639M -4.1%
Net Income -$30M -116.2%
EPS (Diluted) -0.12 -119.4%
Gross Margin 31.89% +4.6%
EBITDA Margin 17.49% -15.4%
Operating Margin 7.86% -14.8%
Net Margin -0.82% -114.3%
ROE -0.43% -115.7%
ROIC 2.75% -0.9%
Debt/Equity 0.40 -10.5%
Interest Coverage 1.38 -0.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 12.6%

✗Weaknesses

✗Weak 3Y average ROE of 3.5%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y51.07%

5Y12.56%

3Y19.59%

TTM8.53%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-49.26%

EPS CAGR

10Y-

5Y-

3Y-

TTM-29.56%

ROCE

10Y Avg1.9%

5Y Avg0.77%

3Y Avg2.52%

Latest2.85%

Peer Comparison

Sports Franchises & Leagues

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TKOTKO Group Holdings, Inc.	16.49B	208.88	3818.65	67.43%	5.27%	2.42%	3.08%	0.35
HOFVHall of Fame Resort & Entertainment Company	2.35M	0.35	-0.04	-12.12%	-366.24%	-207.29%		3.45
BATRKAtlanta Braves Holdings, Inc.	2.07B	40.13	-80.26	3.45%	-0.69%	-1.79%		1.34
BATRAAtlanta Braves Holdings, Inc.	445.64M	43.19	-86.38	3.45%	-0.06%	-0.16%		1.34
MANUManchester United plc	947.86M	16.90	-88.95	0.72%	-4.95%	-17.05%	2.95%	3.33
MSGSMadison Square Garden Sports Corp.	5.54B	283.55	-304.89	1.18%	-2.31%		1.59%
FWONKFormula One Group	20.24B	90.50	-754.17	13.38%	5.08%	2.53%	2.43%	0.40

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	4.79B	0	1.78B	1.83B	2.02B	1.15B	2.14B	2.57B	3.22B	3.65B
Revenue Growth %	80.27%	-1%	-	0.02%	0.11%	-0.43%	0.87%	0.2%	0.25%	0.13%
Cost of Goods Sold+	2.72B	10M	1.22B	1.27B	1.39B	974M	1.49B	1.75B	2.24B	2.49B
COGS % of Revenue	0.57%	-	0.68%	0.7%	0.69%	0.85%	0.7%	0.68%	0.7%	0.68%
Gross Profit+	2.08B	-10M	564M	554M	628M	171M	647M	823M	982M	1.17B
Gross Margin %	0.43%	-	0.32%	0.3%	0.31%	0.15%	0.3%	0.32%	0.3%	0.32%
Gross Profit Growth %	34.2%	-1%	57.4%	-0.02%	0.13%	-0.73%	2.78%	0.27%	0.19%	0.19%
Operating Expenses+	81M	58M	604M	664M	663M	615M	607M	650M	685M	878M
OpEx % of Revenue	0.02%	-	0.34%	0.36%	0.33%	0.54%	0.28%	0.25%	0.21%	0.24%
Selling, General & Admin	72M	58M	199M	204M	210M	174M	210M	288M	316M	408M
SG&A % of Revenue	0.02%	-	0.11%	0.11%	0.1%	0.15%	0.1%	0.11%	0.1%	0.11%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	9M	21M	405M	460M	453M	441M	397M	362M	369M	470M
Operating Income+	-81M	443M	-40M	-110M	-35M	-444M	40M	173M	297M	287M
Operating Margin %	-0.02%	-	-0.02%	-0.06%	-0.02%	-0.39%	0.02%	0.07%	0.09%	0.08%
Operating Income Growth %	0.3%	6.47%	-1.09%	-1.75%	0.68%	-11.69%	1.09%	3.33%	0.72%	-0.03%
EBITDA+	-72M	453M	365M	350M	418M	-3M	437M	535M	666M	639M
EBITDA Margin %	-0.02%	-	0.2%	0.19%	0.21%	-0%	0.2%	0.21%	0.21%	0.17%
EBITDA Growth %	0.28%	7.29%	-0.19%	-0.04%	0.19%	-1.01%	146.67%	0.22%	0.24%	-0.04%
D&A (Non-Cash Add-back)	9M	10M	405M	460M	453M	441M	397M	362M	369M	352M
EBIT	-81M	-68M	-84M	-8M	-206M	-560M	-34M	400M	425M	225M
Net Interest Income+	0	0	-220M	-192M	-195M	-139M	-123M	-149M	-214M	-208M
Interest Income	0	0	0	0	0	7M	0	0	0	0
Interest Expense	20M	19M	220M	192M	195M	146M	123M	149M	214M	208M
Other Income/Expense	-196M	57M	-264M	-90M	-366M	-262M	-197M	78M	-86M	-270M
Pretax Income+	-277M	500M	-304M	-200M	-401M	-706M	-157M	251M	211M	17M
Pretax Margin %	-0.06%	-	-0.17%	-0.11%	-0.2%	-0.62%	-0.07%	0.1%	0.07%	0%
Income Tax+	-102M	171M	-561M	-50M	-90M	-112M	-37M	-311M	27M	47M
Effective Tax Rate %	0.63%	0.66%	-0.84%	0.75%	0.78%	0.84%	1.21%	2.22%	0.88%	-1.76%
Net Income+	-175M	329M	255M	-150M	-311M	-596M	-190M	558M	185M	-30M
Net Margin %	-0.04%	-	0.14%	-0.08%	-0.15%	-0.52%	-0.09%	0.22%	0.06%	-0.01%
Net Income Growth %	-5.03%	2.88%	-0.22%	-1.59%	-1.07%	-0.92%	0.68%	3.94%	-0.67%	-1.16%
Net Income (Continuing)	-175M	329M	257M	-150M	-311M	-594M	-120M	562M	184M	-30M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	7.2B	5.96B	2M	3M	2M	5M	600M	25M	0	0
EPS (Diluted)+	-0.38	1.02	1.21	-0.65	-1.35	-2.57	-0.82	2.15	0.62	-0.12
EPS Growth %	-5.23%	3.68%	0.19%	-1.54%	-1.08%	-0.9%	0.68%	3.62%	-0.71%	-1.19%
EPS (Basic)	-0.38	1.03	1.23	-0.65	-1.35	-2.57	-0.82	2.39	0.79	-0.13
Diluted Shares Outstanding	463.02M	321.01M	211M	232M	231M	232M	232M	244M	234.62M	240M
Basic Shares Outstanding	463.02M	318.01M	207M	231M	231M	232M	232M	233M	234M	230.77M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	97M	175M	479M	310M	748M	2.26B	2.37B	2.02B	1.71B	3.02B
Cash & Short-Term Investments	76M	168M	282M	160M	587M	1.68B	2.07B	1.73B	1.41B	2.63B
Cash Only	76M	168M	282M	160M	587M	1.68B	2.07B	1.73B	1.41B	2.63B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	3M	2M	84M	110M	69M	121M	66M	123M	123M	114M
Days Sales Outstanding	0.23	-	17.2	21.98	12.46	38.57	11.28	17.45	13.93	11.39
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	18M	5M	113M	40M	92M	459M	229M	167M	180M	277M
Total Non-Current Assets+	1.85B	2.82B	11.32B	10.65B	10.76B	8.93B	9.29B	8.99B	8.56B	8.74B
Property, Plant & Equipment	104M	89M	95M	90M	112M	124M	119M	408M	838M	810M
Fixed Asset Turnover	46.11x	-	18.77x	20.30x	18.05x	9.23x	17.95x	6.31x	3.84x	4.51x
Goodwill	14.35B	0	3.96B	3.96B	3.96B	3.96B	3.96B	3.96B	3.96B	4.13B
Intangible Assets	10.77B	1M	5.11B	4.74B	4.3B	3.88B	3.51B	3.16B	2.86B	2.69B
Long-Term Investments	1.45B	2.38B	1.66B	1.45B	1.17B	207M	221M	253M	41M	33M
Other Non-Current Assets	303M	350M	470M	325M	1.21B	757M	1.49B	1.21B	255M	494M
Total Assets+	1.95B	3B	11.8B	10.96B	11.51B	11.19B	11.66B	11.02B	10.27B	11.76B
Asset Turnover	2.46x	-	0.15x	0.17x	0.18x	0.10x	0.18x	0.23x	0.31x	0.31x
Asset Growth %	-0.94%	0.53%	2.94%	-0.07%	0.05%	-0.03%	0.04%	-0.06%	-0.07%	0.15%
Total Current Liabilities+	-124M	31M	305M	360M	426M	692M	1.3B	833M	787M	1.13B
Accounts Payable	17M	16M	258M	233M	264M	150M	308M	396M	472M	645M
Days Payables Outstanding	2.28	584	77.25	66.81	69.12	56.21	75.5	82.59	76.91	94.62
Short-Term Debt	0	0	0	0	0	209M	695M	61M	36M	26M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	-17M	15M	39M	34M	17M	17M	23M	29M	32M	192M
Current Ratio	-	5.65x	1.57x	0.86x	1.76x	3.27x	1.83x	2.43x	2.17x	2.67x
Quick Ratio	-	5.65x	1.57x	0.86x	1.76x	3.27x	1.83x	2.43x	2.17x	2.67x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	1.09B	1.68B	5.83B	5.04B	5.84B	3.94B	3.43B	3.25B	3.06B	3.24B
Long-Term Debt	1.03B	1.58B	5.8B	5.04B	5.68B	3.55B	2.94B	2.89B	2.87B	2.97B
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	1.67B	39M	-31M	-91M	0	0	0	0	3M	0
Other Non-Current Liabilities	-1.61B	56M	30M	5M	161M	394M	492M	362M	188M	275M
Total Liabilities	969M	1.71B	6.13B	5.4B	6.26B	4.64B	4.72B	4.08B	3.85B	4.37B
Total Debt+	1.03B	1.58B	5.8B	5.04B	5.68B	3.76B	3.63B	2.95B	2.91B	2.99B
Net Debt	957M	1.42B	5.51B	4.88B	5.09B	2.08B	1.56B	1.21B	1.5B	361M
Debt / Equity	0.13x	0.22x	1.02x	0.91x	1.08x	0.57x	0.52x	0.42x	0.45x	0.40x
Debt / EBITDA	-	3.49x	15.88x	14.40x	13.58x	-	8.31x	5.51x	4.36x	4.68x
Net Debt / EBITDA	-	3.12x	15.11x	13.94x	12.18x	-	3.56x	2.27x	2.25x	0.56x
Interest Coverage	-4.05x	23.32x	-0.18x	-0.57x	-0.18x	-3.04x	0.33x	1.16x	1.39x	1.38x
Total Equity+	8.18B	7.25B	5.67B	5.55B	5.24B	6.55B	6.94B	6.93B	6.42B	7.39B
Equity Growth %	-0.59%	-0.11%	-0.22%	-0.02%	-0.06%	0.25%	0.06%	-0%	-0.07%	0.15%
Book Value per Share	17.67	22.57	26.88	23.94	22.69	28.25	29.91	28.42	27.36	30.78
Total Shareholders' Equity	983M	1.29B	5.67B	5.55B	5.24B	6.55B	6.34B	6.91B	6.42B	7.39B
Common Stock	3M	1M	2M	2M	0	0	0	0	0	0
Retained Earnings	10.98B	0	0	0	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-93M	-71M	-77M	-88M	0	0	0	0	0	0
Minority Interest	7.2B	5.96B	2M	3M	2M	5M	600M	25M	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-35M	378M	-75M	268M	294M	-139M	481M	534M	619M	567M
Operating CF Margin %	-0.01%	-	-0.04%	0.15%	0.15%	-0.12%	0.23%	0.21%	0.19%	0.16%
Operating CF Growth %	-1.03%	11.8%	-1.2%	4.57%	0.1%	-1.47%	4.46%	0.11%	0.16%	-0.08%
Net Income	-175M	329M	257M	-150M	-311M	-594M	-120M	562M	185M	-30M
Depreciation & Amortization	9M	10M	405M	460M	453M	441M	397M	362M	369M	352M
Stock-Based Compensation	37M	13M	32M	25M	28M	21M	29M	16M	20M	30M
Deferred Taxes	-101M	126M	-529M	-71M	-112M	-102M	-46M	-415M	-158M	-72M
Other Non-Cash Items	192M	-71M	42M	-94M	178M	140M	78M	-107M	71M	352M
Working Capital Changes	3M	-29M	-282M	98M	58M	-45M	143M	116M	132M	-65M
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	-12M	-359M	133M	38M	-8M	0	0	0	0
Cash from Investing+	-38M	-641M	-1.66B	227M	37M	75M	-600M	394M	-510M	-292M
Capital Expenditures	-33M	-2M	-10M	-14M	-44M	-21M	-17M	-291M	-426M	-75M
CapEx % of Revenue	0.01%	-	0.01%	0.01%	0.02%	0.02%	0.01%	0.11%	0.13%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1M	49M	-3M	6M	24M	12M	-72M	733M	-21M	-15M
Cash from Financing+	-373M	355M	1.85B	-616M	96M	1.16B	512M	-1.27B	-435M	965M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.04B	-81M	-18M	-3M	-2M	573M	314M	91M	-356M	58M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-68M	376M	-85M	254M	250M	-160M	464M	243M	193M	492M
FCF Margin %	-0.01%	-	-0.05%	0.14%	0.12%	-0.14%	0.22%	0.09%	0.06%	0.13%
FCF Growth %	-1.07%	6.53%	-1.23%	3.99%	-0.02%	-1.64%	3.9%	-0.48%	-0.21%	1.55%
FCF per Share	-0.15	1.17	-0.40	1.09	1.08	-0.69	2.00	1.00	0.82	2.05
FCF Conversion (FCF/Net Income)	0.20x	1.15x	-0.29x	-1.79x	-0.95x	0.23x	-2.53x	0.96x	3.35x	-18.90x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-1.23%	4.27%	3.95%	-2.67%	-5.76%	-10.11%	-2.82%	8.04%	2.77%	-0.43%
Return on Invested Capital (ROIC)	-0.35%	3.73%	-0.3%	-0.76%	-0.25%	-3.51%	0.35%	1.56%	2.77%	2.75%
Gross Margin	43.32%	-	31.63%	30.32%	31.06%	14.93%	30.29%	31.99%	30.48%	31.89%
Net Margin	-3.65%	-	14.3%	-8.21%	-15.38%	-52.05%	-8.9%	21.69%	5.74%	-0.82%
Debt / Equity	0.13x	0.22x	1.02x	0.91x	1.08x	0.57x	0.52x	0.42x	0.45x	0.40x
Interest Coverage	-4.05x	23.32x	-0.18x	-0.57x	-0.18x	-3.04x	0.33x	1.16x	1.39x	1.38x
FCF Conversion	0.20x	1.15x	-0.29x	-1.79x	-0.95x	0.23x	-2.53x	0.96x	3.35x	-18.90x
Revenue Growth	8027.12%	-100%	-	2.47%	10.67%	-43.37%	86.55%	20.46%	25.22%	13.38%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Formula 1	-	-	-	-	-	-	-	-	-	3.32B
Formula 1 Growth	-	-	-	-	-	-	-	-	-	-
Other	-	-	-	-	-	-	-	-	350M	335M
Other Growth	-	-	-	-	-	-	-	-	-	-4.29%
Subscriber	-	-	-	-	-	-	6.61B	6.89B	6.87B	-
Subscriber Growth	-	-	-	-	-	-	-	4.20%	-0.38%	-
Advertising	-	-	-	-	-	-	1.73B	1.77B	1.76B	-
Advertising Growth	-	-	-	-	-	-	-	2.43%	-0.79%	-
Equipment	-	-	-	-	-	-	201M	189M	193M	-
Equipment Growth	-	-	-	-	-	-	-	-5.97%	2.12%	-
Other.	-	-	-	-	-	-	568M	588M	-	-
Other. Growth	-	-	-	-	-	-	-	3.52%	-	-
Sirius Xm Holdings Revenue	-	-	-	-	7.79B	8.04B	-	-	-	-
Sirius Xm Holdings Revenue Growth	-	-	-	-	-	3.16%	-	-	-	-
Subscription And Circulation	-	-	-	4.59B	-	-	-	-	-	-
Subscription And Circulation Growth	-	-	-	-	-	-	-	-	-	-
Formula	-	-	-	1.83B	-	-	-	-	-	-
Formula Growth	-	-	-	-	-	-	-	-	-	-
Sirius Xm	4.55B	5.01B	5.42B	-	-	-	-	-	-	-
Sirius Xm Growth	-	10.15%	8.20%	-	-	-	-	-	-	-
Formula One	-	-	1.78B	-	-	-	-	-	-	-
Formula One Growth	-	-	-	-	-	-	-	-	-	-
Corporate And Other	243M	262M	386M	-	-	-	-	-	-	-
Corporate And Other Growth	-	7.82%	47.33%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	-	-	-	-	-	-	335M
UNITED STATES Growth	-	-	-	-	-	-	-	-	-	-
Other Countries	-	-	-	-	-	-	101M	111M	104M	-
Other Countries Growth	-	-	-	-	-	-	-	9.90%	-6.31%	-
United States	-	-	-	-	-	-	9.16B	9.48B	-	-
United States Growth	-	-	-	-	-	-	-	3.46%	-	-
Other Country Other Than Us And Uk	-	-	87M	-	98M	97M	-	-	-	-
Other Country Other Than Us And Uk Growth	-	-	-	-	-	-1.02%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Formula One Group (FWONK) reported $4.03B in revenue for fiscal year 2024. This represents a 186% increase from $1.41B in 2011.

Formula One Group (FWONK) grew revenue by 13.4% over the past year. This is steady growth.

Yes, Formula One Group (FWONK) is profitable, generating $205.0M in net income for fiscal year 2024 (-0.8% net margin).

Dividend & Returns

Formula One Group (FWONK) has a return on equity (ROE) of -0.4%. Negative ROE indicates the company is unprofitable.

Formula One Group (FWONK) generated $674.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.