Liberty Media Corporation Series A Liberty Formula One Common Stock (FWONA)

FairStock Score: 48/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach this as a franchise with a rare asset: the commercial rights to Formula One. That kind of property can produce pricing power and global attention, and the business description suggests a durable entertainment platform. But durable assets do not automatically make good investments at any price. The filed numbers are uneven. In fiscal 2023, revenue was $3.6B and net income was $761M. In fiscal 2024, revenue was $3.7B but net income was a loss of $2.1B. In fiscal 2025, revenue was $4.5B and net income was $555M. Then in fiscal Q1 2026, ended 2026-03-31, revenue was $711M and net income was $57M, while fiscal Q2 2026, ended 2026-06-30, produced revenue of $934M but net income of only $5M. That latest margin is wafer-thin. FairStock's TURNAROUND label fits: it returned to profit after a loss within the last three years, but the recovery is not smooth. Financial health is mixed: D/E 0.60, Piotroski 5/9, Altman Z 2.43, FCF yield 3.9%. Returns on capital are low, with FairStock ROE 2.73% and ROCE 2.22%. Valuation leaves no margin of safety. At the 2026-10-13 close of $85.21, FairStock shows P/E 105.20, P/B 2.69, EV/EBITDA 21.37, and Graham Number $23.53—a margin of safety of -262.13%. I prefer to buy a wonderful business at a fair price; here the business may be special, but the price already reflects a lot. I need clearer earnings and cash generation before calling it cheap.

In plain English: Liberty Media's Formula One stock owns the commercial rights to the Formula One racing championship and related media. The brand is valuable, but recent reported profits have been very thin and uneven, and the company carries debt. At the recent $85.21 close, the shares look expensive compared with the company's profits and the value of its assets.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-K (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer