Liberty Media Corporation

FWONK

NASDAQ · Entertainment

$93.25

At close - Sep 23, 4:00 PM EDT - USD

Market Cap$23.37B

P/E43.4x

52W High$109.36

Volume4.32M

VCP Research Verdict2026Q2

Acquisition-Driven Growth Masks F1 Revenue Concentration Risk

Liberty Media's growth strategy hinges on high-profile acquisitions like MotoGP, which expanded total assets from $10.6B in 2024Q1 to $15.9B by 2026Q2, but this has introduced leverage and integration risks. Core F1 operations show strong cash generation, with...

Explore valuation models

MARKET ACTION

FWONK price & volume

Price trend, volume and key moving averages

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Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis

Fundamental Trajectory

Revenue and margins are highly volatile, with 2026Q2 revenue down 30.4% year-over-year and gross margin compressing from 48.0% in 2024Q1 to 35.2%, reflecting the costly self-promotion model.

Analyst Consensus+27.4% target

Buy(25 analysts)

18 Buy6 Hold1 Sell

The Bull Case

Upside Catalysts

Strong revenue and earnings growth

Formula One Group reported sharply higher revenue and net income, indicating improved earnings power from its commercial footprint and content portfolio.

Transformative growth potential

The bullish thesis emphasizes transformative growth and revenue diversification opportunities within Formula One Group.

Premier global motorsport brand

Formula 1 is considered the pinnacle of motorsport, with a prestigious global championship that attracts significant viewership and commercial interest.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return

FWONK-4.89%

S&P 500 (^GSPC)+12.39%

1-Year Return

FWONK-9.52%

S&P 500 (^GSPC)+15.77%

3-Year Return

FWONK+47.52%

S&P 500 (^GSPC)+74.76%

5-Year Return

FWONK+88.48%

S&P 500 (^GSPC)+69.15%

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis

Trailing P/EMedian

43.4x

Forward P/E

51.6x

EV/EBITDA20th %ile

27.5x

FCF YieldCash Flow

3.2%

Valuation vs 5-Year History

Multiple Range

Metric

Current

5Y Median

Historical Range

Percentile

P/E

43.4x

45.8x

33rd· Fair

EV/EBITDA

27.5x

29.1x

20th· Low

Price/FCF

31.1x

45.2x

20th· Low

Current Multiple

5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection

Bear$27.13-70.9%

Base (Fair)$64.92-31.3%

Bull$90.62-2.8%

$27.13 Bear$64.92 Base$90.62 Bull

Current Market Price: $93.25

Trades at a 43.6% premium to Base DCF ($64.92)

Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend

Revenue

$4.48B+22.7% YoY

Net income

$555M+1950.0% YoY

Free cash flow

$751M+52.6% YoY

Operating margin

13.5%+5.6 pts YoY

ROIC (TTM)4.5%

Avg ROIC 5Y-

ROE (TTM)7%

Piotroski Score4 / 9

Financial Statements →

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History

EPS Beat Rate5/12 (45%)

Revenue Beat Rate5/12 (42%)

Quarter	EPS (Act vs Est)	Revenue (Act vs Est)
Q3 2026Latest Aug 6, 2026	$0.02-91.7% vs $0.24	$934M-2.0% vs $953M
Q2 2026 May 7, 2026	$0.22+466.7% vs -$0.06	$711M+4.0% vs $683M
Q1 2026 Feb 26, 2026	$0.39-1.6% vs $0.40	$1.6B+3.7% vs $1.6B
Q4 2025 Nov 5, 2025	$0.24-42.9% vs $0.42	$1.1B-30.3% vs $1.5B

Historical baseline: 12 quarters analyzedGAAP / Adjusted

MARKET COVERAGE

Latest News

5 Stories

Defense World·3d ago

Reviewing Liberty Media Corporation – Liberty Formula One Series C (NASDAQ:FWONK) and Direct Digital (NASDAQ:DRCT)

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ: FWONK - Get Free Report) and Direct Digital (NASDAQ: DRCT - Get Free Report) are both communication services companies, but which is the better investment? We will compare the two businesses based on the strength of their profitability, earnings, dividends, risk, valuation, analyst recommendations and institutional ownership.

Business Wire·Aug 11, 2026

Liberty Media Corporation Prices Private Offering of $600 Million of 2.375% Convertible Senior Notes Due 2032

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Liberty Media Corporation Prices Private Offering of $600 Million of 2.375% Convertible Senior Notes Due 2032.

Business Wire·Aug 10, 2026

Liberty Media Corporation Proposes Private Offering of Convertible Senior Notes

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Liberty Media Corporation Proposes Private Offering of Convertible Senior Notes.

Seeking Alpha·Aug 6, 2026

Formula One Group (FWONK) Q2 2026 Earnings Call Transcript

Filtered for Liberty Media CorporationMore Headlines

Compare before deciding

Benchmark FWONK against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Liberty Media Corporation (FWONK)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
FWONKLiberty Media CorporationCurrent	$93.25	$23.37B	43.37	22.69%	12.38%	7.01%	—
TKOTKO Group Holdings, Inc.	$189.08	$36.8B	83.66	68.85%	4.33%	2.58%	—
MSGEMadison Square Garden Entertainment Corp.	$78.49	$3.71B	-73.36	-66.73%	6.24%	5.95%	—
LYVLive Nation Entertainment, Inc.	$169.03	$39.34B	-704.29	8.83%	0.51%	9%	—
MSGSMadison Square Garden Sports Corp.	$394.80	$9.5B	1233.75	11.03%	0.67%	—	—
DKNGDraftKings Inc.	$21.25	$10.54B	-2623.46	26.99%	-2.68%	-26.3%	—

Compare FWONK vs Peers

Liberty Media Corporation (FWONK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs TKO

Most directly comparable listed peer for FWONK.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare FWONK against a more recognizable public peer.

Peer Set

Compare Top 5

vs TKO, MSGE, LYV, MSGS

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

FWONK SEC Filings & Documents

Liberty Media Corporation (FWONK) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Aug 13, 2026·SEC

Material company update

Aug 10, 2026·SEC

Material company update

Aug 6, 2026·SEC

10-K Annual Reports

FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 27, 2025·SEC

10-Q Quarterly Reports

FY 2026

Aug 6, 2026·SEC

FY 2026

May 7, 2026·SEC

FY 2025

Nov 5, 2025·SEC

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FWONK Frequently Asked Questions

Liberty Media Corporation (FWONK) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is Liberty Media Corporation's revenue?

Liberty Media Corporation (FWONK) reported $4.34B in revenue for fiscal year 2025. This represents a 208% increase from $1.41B in 2011.

How fast is Liberty Media Corporation growing?

Liberty Media Corporation (FWONK) grew revenue by 22.7% over the past year. This is strong growth.

Is FWONK profitable?

Yes, Liberty Media Corporation (FWONK) is profitable, generating $230.0M in net income for fiscal year 2025 (12.4% net margin).

Dividend & Returns

What is FWONK's return on equity?

Liberty Media Corporation (FWONK) has a return on equity (ROE) of 7.0%. This is below average, suggesting room for improvement.

What is Liberty Media Corporation's free cash flow?

Liberty Media Corporation (FWONK) generated $786.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in FWONK back in 2011?

Total return calculator · dividends reinvested · 15+ years of data

See returns →

Quarter

EPS (Act vs Est)

Revenue (Act vs Est)

Q3 2026Latest

Aug 6, 2026

$0.02-91.7%

vs $0.24

$934M-2.0%

vs $953M

Q2 2026

May 7, 2026

$0.22+466.7%

vs -$0.06

$711M+4.0%

vs $683M

Q1 2026

Feb 26, 2026

$0.39-1.6%

vs $0.40

$1.6B+3.7%

vs $1.6B

Q4 2025

Nov 5, 2025

$0.24-42.9%

vs $0.42

$1.1B-30.3%

vs $1.5B

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

FWONKLiberty Media CorporationCurrent

$93.25

$23.37B

43.37

22.69%

12.38%

7.01%

—

TKOTKO Group Holdings, Inc.

$189.08

$36.8B

83.66

68.85%

4.33%

2.58%

—

MSGEMadison Square Garden Entertainment Corp.

$78.49

$3.71B

-73.36

-66.73%

6.24%

5.95%

—

LYVLive Nation Entertainment, Inc.

$169.03

$39.34B

-704.29

8.83%

0.51%

—

MSGSMadison Square Garden Sports Corp.

$394.80

$9.5B

1233.75

11.03%

0.67%

—

DKNGDraftKings Inc.

$21.25

$10.54B

-2623.46

26.99%

-2.68%

-26.3%

—