Liberty Media Corporation Series C Liberty Formula One Common Stock (FWONK)

FairStock Score: 21/100 — RISKY

Key Financials

AI Analysis

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

At the close on 2026-10-13, FWONK traded at $93.02, giving a market cap of $22.3B. FairStock's calculations show a P/E of 114.84, P/B of 2.93, EV/EBITDA of 23.05, and a Graham Number of $23.53, so the quoted price is far above what current earnings and book value alone would support. The company owns the commercial rights to the FIA Formula One World Championship, an unusually scarce global entertainment asset. That is the kind of franchise I like: a nine-month racing season, media rights, and a worldwide fanbase. But a great asset can still be a poor investment at the wrong price. The filed numbers are volatile. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $934.0M and net income only $5.0M. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $711.0M and net income $57.0M. Fiscal Q4 2025, the quarter ended 2025-12-31, was much stronger: revenue $1.6B and net income $333.0M. For FY2025, revenue was $4.5B and net income $555.0M, after FY2024 revenue of $3.7B and a net loss of $2.1B; FY2023 had revenue of $3.6B and net income of $761.0M. So the Lynch category, TURNAROUND, is understandable. Financial health is mixed. Trailing free cash flow is $802.0M, a 3.6% FCF yield, and debt-to-equity is 0.60, but FairStock's ROE is 2.73% and ROCE is 2.22%. Piotroski is 5/9 and Altman Z is 2.58. At 114.84 times earnings, the price already assumes a lot. I see a durable asset, but no Graham-style margin of safety.

In plain English: Liberty Media's Formula One stock gives investors a share of the company that runs the commercial side of Formula One racing, including race and media rights. The business has a world-famous brand and generates cash, but recent reported profit has been very thin and the stock price looks expensive compared with current profits and book value. It may be a turnaround situation, but the numbers do not show a clear bargain.

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