Liberty Media Corporation - Formula One Group (FWONA) Balance Sheet
FWONA balance sheet, 2025
December 31, 2025 · U.S. dollars$15.40B assets = $6.95B liabilities + $8.45B equity
Both columns are drawn to the same scale: what FWONA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FWONA financial health
Descriptive bands, not a rating. Fiscal 2025.
FWONA balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $3.00B2016 | $15.40B2025 | +20.0%/yr | |
| Total liabilities | $1.71B2016 | $6.95B2025 | +16.9%/yr | |
| Shareholders’ equity | $1.29B2016 | $7.76B2025 | +22.1%/yr | |
| Cash & short-term investments | $168.0M2016 | $1.05B2025 | +22.6%/yr | |
| Total debt | $9.88B2016 | $5.12B2025 | −7.0%/yr | |
| Net cash (debt) | −$9.71B2016 | −$4.07B2025 | +$5.6B | |
| Working capital | $144.0M2016 | $434.0M2025 | +$290.0M | |
| Current ratio | 5.652016 | 1.462025 | −4.18 | |
| Debt / equity | 7.682016 | 0.662025 | −7.02 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FWONA assets
FWONA liabilities and equity
FWONA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FWONA balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.05B | $2.63B | $1.41B | $1.73B | $2.07B | $1.68B | $587.0M | $160.0M | $282.0M | $168.0M |
| Cash & equivalents | $1.05B | $2.63B | $1.41B | $1.73B | $2.07B | $1.68B | $587.0M | $160.0M | $282.0M | $168.0M |
| Short-term investments | — | — | — | $699.0M | — | $1.02B | — | −$529.0M | $1.11B | $1.31B |
| Receivables | $229.0M | $114.0M | $123.0M | $123.0M | $66.0M | $121.0M | $69.0M | $110.0M | $84.0M | $2.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $89.0M | $277.0M | $180.0M | $167.0M | $229.0M | $459.0M | $92.0M | $40.0M | $113.0M | $5.0M |
| Total current assets | $1.37B | $3.02B | $1.71B | $2.02B | $2.37B | $2.26B | $748.0M | $310.0M | $479.0M | $175.0M |
| Property, plant & equipment (net) | $868.0M | $810.0M | $838.0M | $408.0M | $119.0M | $124.0M | $112.0M | $90.0M | $95.0M | $89.0M |
| Goodwill & intangible assets | $12.13B | $6.82B | $6.81B | $7.12B | $7.46B | $7.84B | $8.26B | $8.69B | $9.07B | $14.35B |
| Long-term investments | $0 | $33.0M | $41.0M | $952.0M | $945.0M | $1.02B | $1.62B | $1.64B | $1.11B | $1.31B |
| Other non-current assets | $1.03B | $1.07B | $863.0M | $514.0M | $767.0M | $0 | $761.0M | $224.0M | $1.05B | $0 |
| Total assets | $15.40B | $11.76B | $10.27B | $11.02B | $11.66B | $11.19B | $11.51B | $10.96B | $11.80B | $3.00B |
| Liabilities | ||||||||||
| Accounts payable | $575.0M | $645.0M | $472.0M | $396.0M | $308.0M | $150.0M | $264.0M | $233.0M | $258.0M | $16.0M |
| Short-term debt | $76.0M | $26.0M | $36.0M | $61.0M | $695.0M | $209.0M | $32.0M | $25.0M | $30.0M | $1.86B |
| Deferred revenue | $263.0M | $267.0M | $247.0M | $347.0M | $253.0M | $259.0M | $113.0M | $93.0M | $8.0M | $1.88B |
| Total current liabilities | $939.0M | $1.13B | $787.0M | $833.0M | $1.30B | $692.0M | $426.0M | $360.0M | $305.0M | $31.0M |
| Long-term debt | $5.05B | $2.97B | $2.87B | $14.95B | $15.70B | $16.69B | $15.42B | $13.37B | $13.19B | $8.01B |
| Other long-term liabilities | $961.0M | $275.0M | $191.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $6.95B | $4.37B | $3.85B | $4.08B | $4.72B | $4.64B | $6.26B | $5.40B | $6.13B | $1.71B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $2.0M | $3.0M | $6.42B | $6.91B | $6.34B | $6.55B | $2.0M | $2.0M | $2.0M | $1.0M |
| Retained earnings (deficit) | $7.79B | $7.18B | — | $545.0M | $12.72B | $12.32B | $13.64B | $13.64B | $13.08B | $11.73B |
| Accumulated other comprehensive income | −$30.0M | — | — | — | — | −$74.0M | −$33.0M | −$88.0M | −$77.0M | −$71.0M |
| Minority interest | $693.0M | $22.0M | $0 | $3.16B | $3.59B | $4.51B | $5.63B | $5.10B | $5.63B | $5.96B |
| Total shareholders' equity | $7.76B | $7.39B | $6.42B | $6.93B | $6.94B | $6.55B | $5.24B | $5.55B | $5.67B | $1.29B |
| Key figures | ||||||||||
| Total debt | $5.12B | $2.99B | $2.91B | $15.01B | $16.39B | $16.89B | $15.45B | $13.40B | $13.22B | $9.88B |
| Net cash (debt) | −$4.07B | −$361.0M | −$1.50B | −$13.28B | −$14.32B | −$15.21B | −$14.86B | −$13.24B | −$12.93B | −$9.71B |
| Working capital | $434.0M | $1.89B | $924.0M | $1.19B | $1.07B | $1.57B | $322.0M | −$50.0M | $174.0M | $144.0M |
| Tangible book value | −$4.37B | $565.0M | −$395.0M | −$184.0M | −$524.0M | −$1.28B | −$3.02B | −$3.14B | −$3.40B | −$13.06B |
| Book value per share | — | — | — | — | — | — | — | — | — | $15.35 |
| Shares outstanding | — | — | — | — | — | — | — | — | — | 83.8M |
| Current ratio | 1.46 | 2.67 | 2.17 | 2.43 | 1.83 | 3.27 | 1.76 | 0.86 | 1.57 | 5.65 |
| Quick ratio | 1.37 | 2.43 | 1.95 | 2.23 | 1.65 | 2.61 | 1.54 | 0.75 | 1.20 | 5.48 |
| Debt / equity | 0.66 | 0.40 | 0.45 | 2.16 | 2.36 | 2.58 | 2.95 | 2.41 | 2.33 | 7.68 |
| Equity / assets | 50.4% | 62.8% | 62.5% | 63.0% | 59.5% | 58.6% | 45.6% | 50.7% | 48.1% | 42.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.47B | $1.33B | $1.05B | $1.29B | $3.14B | $2.83B | $2.63B | $2.67B | $1.49B | $1.23B | $1.41B | $1.47B |
| Cash & equivalents | $1.47B | $1.33B | $1.05B | $1.29B | $3.14B | $2.83B | $2.63B | $2.67B | $1.49B | $1.23B | $1.41B | $1.47B |
| Short-term investments | — | — | — | — | — | — | — | — | — | — | — | $1.10B |
| Receivables | $255.0M | $262.0M | $229.0M | $302.0M | $143.0M | $143.0M | $114.0M | $122.0M | $182.0M | $175.0M | $123.0M | $149.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $389.0M | $363.0M | $89.0M | $468.0M | $510.0M | $376.0M | $277.0M | $503.0M | $363.0M | $338.0M | $180.0M | $348.0M |
| Total current assets | $2.11B | $1.96B | $1.37B | $2.06B | $3.79B | $3.35B | $3.02B | $3.29B | $2.04B | $1.75B | $1.71B | $1.97B |
| Property, plant & equipment (net) | $1.14B | $1.10B | $868.0M | $827.0M | $828.0M | $825.0M | $810.0M | $827.0M | $825.0M | $834.0M | $838.0M | $751.0M |
| Goodwill & intangible assets | $11.72B | $11.91B | $12.13B | $12.47B | $6.71B | $6.77B | $6.82B | $6.95B | $7.02B | $7.09B | $6.81B | $6.88B |
| Long-term investments | $0 | $0 | $0 | $33.0M | $33.0M | $510.0M | $33.0M | $35.0M | $37.0M | $38.0M | $41.0M | $43.0M |
| Other non-current assets | $912.0M | $924.0M | $1.03B | $972.0M | $1.13B | $633.0M | $1.07B | $878.0M | $894.0M | $899.0M | $863.0M | $913.0M |
| Total assets | $15.88B | $15.89B | $15.40B | $16.36B | $12.48B | $12.09B | $11.76B | $11.98B | $10.81B | $10.61B | $10.27B | $10.55B |
| Liabilities | ||||||||||||
| Accounts payable | $417.0M | $524.0M | $575.0M | $472.0M | $469.0M | $330.0M | $645.0M | $404.0M | $428.0M | $314.0M | $472.0M | $337.0M |
| Short-term debt | $72.0M | $53.0M | $52.0M | $42.0M | $34.0M | $30.0M | $26.0M | $21.0M | $37.0M | $36.0M | $36.0M | $32.0M |
| Deferred revenue | $1.12B | $819.0M | $263.0M | $1.09B | $780.0M | $1.01B | $267.0M | $756.0M | $712.0M | $664.0M | $247.0M | $776.0M |
| Total current liabilities | $1.67B | $1.45B | $939.0M | $1.65B | $1.33B | $1.45B | $1.13B | $1.22B | $1.21B | $1.06B | $787.0M | $1.18B |
| Long-term debt | $4.85B | $4.97B | $5.05B | $5.12B | $3.00B | $2.95B | $2.97B | $2.91B | $2.88B | $2.87B | $2.87B | $2.87B |
| Other long-term liabilities | $984.0M | $1.07B | $961.0M | $961.0M | $304.0M | $277.0M | $275.0M | $213.0M | $173.0M | $188.0M | $191.0M | $149.0M |
| Total liabilities | $7.50B | $7.49B | $6.95B | $7.74B | $4.63B | $4.67B | $4.37B | $4.34B | $4.26B | $4.12B | $3.85B | $4.19B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $3.0M | $2.0M | $2.0M | $3.0M | $7.85B | $3.0M | $3.0M | $2.0M | $6.55B | $6.49B | $6.42B | $6.36B |
| Retained earnings (deficit) | $7.76B | $7.84B | $7.79B | $7.44B | — | $7.18B | $7.18B | — | — | — | — | — |
| Accumulated other comprehensive income | −$149.0M | −$111.0M | −$30.0M | −$67.0M | — | −$148.0M | — | — | — | — | — | — |
| Minority interest | $759.0M | $674.0M | $693.0M | $692.0M | $0 | — | — | — | — | — | — | — |
| Total shareholders' equity | $7.62B | $7.73B | $7.76B | $7.93B | $7.85B | $7.41B | $7.39B | $7.64B | $6.55B | $6.49B | $6.42B | $6.36B |
| Key figures | ||||||||||||
| Total debt | $4.92B | $5.02B | $5.10B | $5.16B | $3.03B | $2.98B | $2.99B | $2.93B | $2.91B | $2.90B | $2.91B | $2.90B |
| Net cash (debt) | −$3.46B | −$3.69B | −$4.04B | −$3.87B | $110.0M | −$149.0M | −$361.0M | −$262.0M | −$1.42B | −$1.67B | −$1.50B | −$1.43B |
| Working capital | $444.0M | $504.0M | $434.0M | $408.0M | $2.46B | $1.91B | $1.89B | $2.07B | $822.0M | $685.0M | $924.0M | $790.0M |
| Tangible book value | −$4.10B | −$4.18B | −$4.37B | −$4.54B | $1.15B | $645.0M | $565.0M | $693.0M | −$470.0M | −$598.0M | −$395.0M | −$517.0M |
| Current ratio | 1.27 | 1.35 | 1.46 | 1.25 | 2.85 | 2.32 | 2.67 | 2.70 | 1.68 | 1.65 | 2.17 | 1.67 |
| Quick ratio | 1.03 | 1.10 | 1.37 | 0.96 | 2.46 | 2.06 | 2.43 | 2.29 | 1.38 | 1.33 | 1.95 | 1.38 |
| Debt / equity | 0.65 | 0.65 | 0.66 | 0.65 | 0.39 | 0.40 | 0.40 | 0.38 | 0.44 | 0.45 | 0.45 | 0.46 |
| Equity / assets | 48.0% | 48.6% | 50.4% | 48.5% | 62.9% | 61.3% | 62.8% | 63.8% | 60.6% | 61.2% | 62.5% | 60.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
FWONA financial position
At the end of fiscal 2025 (December 31, 2025), Formula One Group had total assets of $15.4 billion (up 30.9% from a year earlier), total liabilities of $6.9 billion and shareholders' equity of $7.8 billion. It held $1.1 billion in cash and short-term investments against $5.1 billion of debt, net debt of $4.1 billion. Its current ratio was 1.46. In the latest quarter (ended June 30, 2026) total assets were $15.9 billion and equity $7.6 billion.
Related: FWONA income statement, FWONA cash flow statement, FWONA key metrics. See the FWONA stock overview for the latest quote and news.
FWONA balance sheet FAQ
What are Formula One Group's total assets?
Formula One Group reported total assets of $15.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $11.8 billion a year earlier.
How much debt does Formula One Group have?
Formula One Group had $5.1 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.66.
How much cash does Formula One Group have?
Formula One Group held $1.1 billion in cash and short-term investments at the end of fiscal 2025; with $5.1 billion of debt that is net debt of $4.1 billion.
What is Formula One Group's book value?
Formula One Group's shareholders' equity (book value) was $7.8 billion at the end of fiscal 2025.
What is Formula One Group's current ratio?
Formula One Group had current assets of $1.4 billion and current liabilities of $939.0 million, a current ratio of 1.46 (it can cover its short-term obligations).
How much goodwill does Formula One Group have?
Formula One Group carried $12.1 billion of goodwill and intangible assets, 78.8% of total assets, at the end of fiscal 2025.