Latest Ratios: P/E Ratio -16.2x · EV/EBITDA 6.0x · ROE N/A. (2004–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.3B | $2.6B | $2.1B | — | — | — | — | — | — | — | — |
| Enterprise Value | $7.1B | $6.4B | $5.6B | — | — | — | — | — | — | — | — |
| P/E Ratio → | -16.17 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.26 | 1.01 | 0.67 | — | — | — | — | — | — | — | — |
| P/B Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/FCF | 291.23 | 232.25 | — | — | — | — | — | — | — | — | — |
| P/OCF | 133.87 | 106.76 | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.45 | 1.75 | — | — | — | — | — | — | — | — |
| EV / EBITDA | 5.99 | 5.42 | 3.12 | — | — | — | — | — | — | — | — |
| EV / EBIT | 48.06 | 64.15 | 52.41 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 564.96 | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.8% | 39.8% | 30.8% | 36.8% | 28.4% | 29.2% | 36.2% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 5.6% | 5.6% | 3.9% | 4.7% | 4.5% | 4.1% | 5.0% | 500.7% | 57.5% | 63.1% | 76.6% |
| Net Profit Margin | -7.5% | -7.5% | -4.0% | -3.1% | -0.0% | 0.4% | -1.0% | 245.2% | 29.4% | 30.1% | 38.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | 48.8% | -9.1% | 10.3% | 10.4% | 11.7% | 13.8% |
| ROA | -3.8% | -3.8% | -2.5% | -2.0% | -0.0% | 0.3% | -0.5% | 0.9% | 0.9% | 0.9% | 1.1% |
| ROIC | 4.3% | 4.3% | 3.8% | 4.2% | 4.1% | 3.7% | 5.4% | 9.9% | 8.4% | 9.1% | 12.4% |
| ROCE | 6.9% | 6.9% | 7.4% | 7.4% | 5.9% | 4.7% | 2.8% | 2.0% | 1.8% | 2.1% | 2.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | 44.81 | — | 0.58 | 0.68 | 1.00 | 1.09 |
| Debt / EBITDA | 3.35 | 3.35 | 2.05 | 18.49 | 1.76 | 1.62 | 2.54 | 2.70 | 3.10 | 4.06 | 3.93 |
| Net Debt / Equity | — | — | — | — | — | 40.64 | — | 0.56 | 0.65 | 0.98 | 1.08 |
| Net Debt / EBITDA | 3.19 | 3.19 | 1.93 | 17.11 | 1.65 | 1.47 | 2.15 | 2.59 | 3.00 | 3.98 | 3.89 |
| Debt / FCF | — | 332.71 | — | 7.19 | 8.75 | — | — | 1.59 | 1.75 | — | — |
| Interest Coverage | 0.39 | 0.39 | 0.44 | 1.38 | 1.03 | 1.16 | 0.84 | 2.81 | 3.42 | 3.98 | 4.89 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.46 | 0.46 | 0.42 | 0.38 | 0.55 | 0.54 | 0.68 | 28.25 | 23.99 | 13.67 | 13.90 |
| Quick Ratio | 0.46 | 0.46 | 0.42 | 0.38 | 0.55 | 0.54 | 0.68 | 28.25 | 23.99 | 13.67 | 13.90 |
| Cash Ratio | 0.06 | 0.06 | 0.06 | 0.08 | 0.10 | 0.14 | 0.27 | 1.88 | 0.20 | 0.10 | 0.09 |
| Asset Turnover | — | 0.50 | 0.62 | 0.59 | 0.70 | 0.63 | 0.52 | 0.00 | 0.03 | 0.03 | 0.03 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 107.10 | 118.70 | 119.90 | 103.87 | 93.28 | 87.18 | 75264.34 | 9664.12 | 9355.58 | 10485.99 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 0.3% | 0.4% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $290M | $285M | $253M | $287M | $16M | $22M | $27M | $27M | $26M | $22M |
Includes 30+ ratios · 21 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying LION stock.
Lionsgate Studios Corp.'s current P/E ratio is -16.2x. This places it at the 50th percentile of its historical range.
Lionsgate Studios Corp.'s current EV/EBITDA is 6.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.3x.
Based on historical data, Lionsgate Studios Corp. is trading at a P/E of -16.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Lionsgate Studios Corp. has 39.8% gross margin and 5.6% operating margin.
Lionsgate Studios Corp.'s Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Negative equity and high leverage
Metrics are mathematically derived from official filings.
Margin Compression Amid Content Cycle
Gross margin averaged 36% over the last four quarters, but operating margin swung to 3.3% in 2026Q2, reflecting high content amortization and talent costs that cap profitability. According to the latest financial statements, net margin remains negative at -3.7%.
The gross margin of 36.0% in 2026Q2 is consistent with the trailing average, indicating that the cost of content amortization and participations is structurally high. Operating margin improved from -9.7% in 2025Q3 to 3.3%, but this is still thin and suggests that SG&A and marketing expenses consume most of the gross profit. The negative net margin of -3.7% in 2026Q2, despite positive operating income, implies that interest expense and other non-operating charges are eroding bottom-line profitability, a trend that warrants monitoring as the company seeks to recover from the content delivery trough.
ROIC Volatility Reflects Content Timing
ROIC swung from -2.3% in 2025Q3 to 3.7% in 2026Q1, but the 10-quarter average is near zero, indicating that the company is not consistently earning its cost of capital. Based on reported figures, ROA remains negative in most quarters.
The wide swings in ROIC, from -2.3% to 3.7%, are driven by the lumpy recognition of content revenues and the timing of amortization, rather than a stable improvement in capital efficiency. The near-zero average ROIC over the period suggests that LION is not generating returns above its cost of capital, which is a concern for a capital-intensive studio model. The improvement in 2026Q1 to 3.7% may indicate a cyclical upturn, but it is too early to confirm a sustainable trend, especially given the negative ROA in the most recent quarter.
Working Capital Cycle Stretched by Content
DSO averaged 115 days in 2026Q2, up from 68 days in 2024Q1, while DPO fell to 35 days, indicating that LION is collecting receivables slower and paying suppliers faster. According to the latest data, the cash conversion cycle is not calculable due to missing inventory days.
The elongation of DSO from 68 days to 115 days over the period suggests that LION is taking longer to collect on its licensing and distribution receivables, which may reflect the bargaining power of its streaming and theatrical partners. The decline in DPO from 27 days to 35 days (though still low) indicates that LION is not stretching its payables, possibly due to the need to maintain good relationships with talent and production partners. The missing DIO data prevents a full CCC calculation, but the negative working capital changes observed in the cash flow statement suggest that content production costs are consuming cash, which is typical for a studio with a heavy production slate.
Debt Load Pressures Interest Coverage
D/EBITDA spiked to 13.36 in 2026Q2, up from 2.43 in 2025Q1, while interest coverage fell to 0.62, indicating that operating income is insufficient to cover interest expense. As reported in the latest financials, leverage has increased sharply.
The dramatic increase in D/EBITDA from 2.43 to 13.36 over five quarters reflects both a rise in total debt (from $1.7B to $3.9B) and a decline in EBITDA due to the content cycle. Interest coverage of 0.62 in 2026Q2 means that LION is generating only $0.62 of operating income for every $1 of interest expense, which is a precarious position. This suggests that the company is highly reliant on refinancing or cash reserves to service its debt, and any further deterioration in operating performance could strain its ability to meet obligations. The negative equity position further complicates the balance sheet, as traditional leverage metrics are less informative.
Thin Liquidity Buffer Improving Slowly
Current ratio improved from 0.31 in 2024Q2 to 0.44 in 2026Q2, but remains well below 1.0, indicating that current liabilities exceed current assets. Based on the latest balance sheet, cash has risen to $425.8M, but the buffer is still thin.
The current ratio of 0.44 in 2026Q2, while improved from 0.31 a year earlier, still indicates that LION would struggle to cover its short-term obligations with current assets alone. The increase in cash to $425.8M provides some cushion, but the negative working capital and the need to fund ongoing content production suggest that liquidity remains a concern. Under a severe stress scenario, such as a prolonged downturn in content demand or a tightening of credit markets, LION's ability to meet its obligations would be tested, especially given the high debt load and negative equity.
Misapplied EV/EBITDA Multiple
EV/EBITDA of 6.19 appears cheap, but this metric is misleading for LION because EBITDA does not capture the full cost of content investment, which is capitalized and amortized. According to the cash flow statement, content spend is the true capital expenditure.
The EV/EBITDA multiple of 6.19 is below the peer average, but it is not a reliable valuation metric for a content studio like LION. EBITDA excludes the significant amortization of film and television costs, which are the company's primary investment, and it also ignores the cash outflows for content production that are capitalized on the balance sheet. A more appropriate metric would be EV/EBIT or EV/Operating Cash Flow, which better reflect the economic cost of content creation. Additionally, the negative equity and high leverage mean that EV/EBITDA can be distorted by the debt component, making it even less useful for assessing LION's true value.