Liberty Media Corporation - Formula One Group (FWONK) Key Metrics
FWONK valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $22.77B
- Enterprise value
- $26.64B
- P/E (TTM)
- 110.7 10-yr median 27.8
- Forward P/E
- 48.1
- PEG ratio
- 12.77
- Price / sales
- 5.7 10-yr median 5.3
- Price / book
- 3.1 10-yr median 2.0
- EV / EBITDA
- 23.7 10-yr median 42.0
- Dividend yield
- —
- Beta
- 0.68
FWONK key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFWONK valuation Price multiples at each fiscal year-end price.
FWONK returns How much profit the business earns on the capital it uses.
FWONK per-share figures Results divided by the shares outstanding at year-end.
FWONK financial health Debt, liquidity and how easily interest is covered.
FWONK efficiency & capital use Working capital cycle and where the cash goes.
FWONK valuation history
FWONK returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FWONK debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FWONK cash returned to shareholders
FWONK price vs earnings per share
FWONK key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $24.63B | $22.24B | $14.81B | $14.34B | $14.43B | $9.72B | $10.44B | $7.00B | $7.09B | $2.58B |
| Enterprise value | $28.70B | $22.60B | $16.31B | $27.62B | $28.75B | $24.93B | $25.30B | $20.24B | $20.02B | $12.29B |
| P/E ratio | 44.4 | — | 80.1 | 25.7 | — | — | — | — | 27.8 | 7.8 |
| Price / sales | 5.5 | 6.1 | 4.6 | 5.6 | 6.8 | 8.5 | 5.2 | 3.8 | 4.0 | 0.5 |
| Price / book | 3.2 | 3.0 | 2.3 | 2.1 | 2.1 | 1.5 | 2.0 | 1.3 | 1.2 | 2.0 |
| Price / free cash flow | 32.8 | 45.2 | 76.7 | 59.0 | 31.1 | — | 41.8 | 27.6 | — | 6.9 |
| Price / operating cash flow | 28.3 | 39.2 | 23.9 | 26.9 | 30.0 | — | 35.5 | 26.1 | — | 6.8 |
| EV / sales | 6.4 | 6.2 | 5.1 | 10.7 | 13.5 | 21.8 | 12.5 | 11.1 | 11.2 | 2.3 |
| EV / EBITDA | 24.9 | 39.2 | 20.5 | 36.3 | 79.2 | — | 102.4 | 44.8 | 62.4 | — |
| EV / free cash flow | 38.2 | 45.9 | 84.5 | 113.7 | 62.0 | — | 101.2 | 79.7 | — | 32.7 |
| Earnings yield | 2.3% | −0.1% | 1.2% | 3.9% | −1.3% | −6.1% | −3.0% | −2.1% | 3.6% | 12.7% |
| Free cash flow yield | 3.0% | 2.2% | 1.3% | 1.7% | 3.2% | −1.6% | 2.4% | 3.6% | −1.2% | 14.6% |
| Dividend yield | — | — | 0.0% | 1.7% | 0.0% | 0.7% | 0.7% | 0.8% | 0.8% | — |
| Shareholder yield (dividends + buybacks) | 0.0% | 0.1% | 0.1% | 6.0% | 0.4% | 1.4% | 0.9% | 0.9% | 0.9% | 0.4% |
| Share price at fiscal year-end | $98.51 | $92.66 | $63.13 | $58.78 | $62.18 | $41.89 | $45.20 | $30.19 | $33.59 | $30.81 |
| Per share | ||||||||||
| Revenue per share | $17.92 | $15.22 | $13.73 | $10.55 | $9.21 | $4.94 | $8.75 | $7.88 | $8.45 | $62.96 |
| Earnings per share | $2.22 | −$0.12 | $0.79 | $2.29 | −$0.82 | −$2.57 | −$1.35 | −$0.65 | $1.21 | $3.93 |
| Operating cash flow per share | $3.48 | $2.36 | $2.64 | $2.19 | $2.07 | −$0.60 | $1.27 | $1.16 | −$0.36 | $4.51 |
| Free cash flow per share | $3.00 | $2.05 | $0.82 | $1.00 | $2.00 | −$0.69 | $1.08 | $1.09 | −$0.40 | $4.49 |
| Cash per share | $4.22 | $10.96 | $6.00 | $7.10 | $8.94 | $7.26 | $2.54 | $0.69 | $1.34 | $2.00 |
| Book value per share | $31.02 | $30.78 | $27.36 | $28.42 | $29.91 | $28.25 | $22.69 | $23.94 | $26.88 | $15.35 |
| Tangible book value per share | −$17.48 | $2.35 | −$1.68 | −$0.75 | −$2.26 | −$5.53 | −$13.06 | −$13.53 | −$16.09 | −$155.85 |
| Dividends per share | — | — | $0.00 | $1.02 | $0.00 | $0.28 | $0.29 | $0.25 | $0.28 | — |
| Capex per share | $0.48 | $0.31 | $1.82 | $1.19 | $0.07 | $0.09 | $0.19 | $0.06 | $0.05 | $0.02 |
| Debt per share | $20.49 | $12.47 | $12.39 | $61.53 | $70.66 | $72.82 | $66.87 | $57.74 | $62.64 | $117.88 |
| Shares outstanding | 250.0M | 240.0M | 234.6M | 244.0M | 232.0M | 232.0M | 231.0M | 232.0M | 211.0M | 83.8M |
| Change in shares outstanding | +4.2% | +2.3% | −3.8% | +5.2% | 0.0% | +0.4% | −0.4% | +10.0% | +151.8% | −81.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 7.3% | −0.4% | 2.8% | 8.0% | −2.8% | −10.1% | −5.8% | −2.7% | 7.3% | 29.0% |
| Return on invested capital (ROIC) | 5.0% | 1.8% | 1.8% | 0.8% | 0.1% | −1.7% | −0.1% | −0.5% | −0.2% | 2.9% |
| Return on assets (ROA) | 4.1% | −0.3% | 1.7% | 4.9% | −1.7% | −5.3% | −2.8% | −1.3% | 3.4% | 13.3% |
| Return on tangible assets | 17.0% | −0.6% | 5.4% | 14.3% | −4.5% | −17.8% | −9.6% | −6.6% | 9.3% | — |
| Free cash flow margin | 16.8% | 13.5% | 6.0% | 9.4% | 21.7% | −14.0% | 12.4% | 13.9% | −4.8% | 7.1% |
| Income quality (OCF / net income) | 1.57 | — | 3.35 | 0.96 | — | — | — | — | −0.29 | 1.15 |
| Financial health | ||||||||||
| Total debt | $5.12B | $2.99B | $2.91B | $15.01B | $16.39B | $16.89B | $15.45B | $13.40B | $13.22B | $9.88B |
| Cash & short-term investments | $1.05B | $2.63B | $1.41B | $1.73B | $2.07B | $1.68B | $587.0M | $160.0M | $282.0M | $168.0M |
| Net debt | $4.07B | $361.0M | $1.50B | $13.28B | $14.32B | $15.21B | $14.86B | $13.24B | $12.93B | $9.71B |
| Debt / equity | 0.66 | 0.40 | 0.45 | 2.16 | 2.36 | 2.58 | 2.95 | 2.41 | 2.33 | 7.68 |
| Debt / assets | 0.33 | 0.25 | 0.28 | 1.36 | 1.41 | 1.51 | 1.34 | 1.22 | 1.12 | 3.30 |
| Net debt / EBITDA | 3.53 | 0.63 | 1.89 | 17.43 | 39.45 | — | 60.17 | 29.28 | 40.29 | — |
| Current ratio | 1.46 | 2.67 | 2.17 | 2.43 | 1.83 | 3.27 | 1.76 | 0.86 | 1.57 | 5.65 |
| Quick ratio | 1.46 | 2.67 | 2.17 | 2.43 | 1.83 | 3.27 | 1.76 | 0.86 | 1.57 | 5.65 |
| Interest coverage | 21.6 | 1.4 | 1.4 | 1.2 | 0.3 | -3.0 | -0.2 | -0.6 | -0.2 | 23.3 |
| Working capital | $434.0M | $1.89B | $924.0M | $1.19B | $1.07B | $1.57B | $322.0M | −$50.0M | $174.0M | $144.0M |
| Invested capital | $11.83B | $7.75B | $7.92B | $20.22B | $21.26B | $21.77B | $20.10B | $18.79B | $18.61B | $11.00B |
| Tangible asset value | −$3.68B | $565.0M | −$395.0M | −$184.0M | −$524.0M | −$1.28B | −$3.02B | −$3.14B | −$3.40B | −$13.06B |
| Net current asset value | −$5.58B | −$1.35B | −$2.14B | −$2.06B | −$2.35B | −$2.37B | −$5.52B | −$5.09B | −$5.65B | −$1.53B |
| Graham number | $39.36 | — | $22.03 | $38.24 | — | — | — | — | $27.03 | $36.82 |
| Graham net-net per share | −$22.88 | −$6.89 | −$10.01 | −$9.24 | −$11.21 | −$12.33 | −$24.35 | −$22.25 | −$27.42 | −$18.37 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | $0 | $249.0M | $58 | $64.0M | $68.0M | $59.0M | $60.0M | — |
| Share buybacks (net) | $0 | $14.0M | $9.0M | $616.0M | $55.0M | $69.0M | $24.0M | $3.0M | $5.0M | $11.0M |
| Dividend payout ratio | — | — | 0.0% | 44.6% | — | — | — | — | 23.5% | — |
| Dividends + buybacks / free cash flow | 0.0% | 2.8% | 4.7% | 356.0% | 11.9% | — | 36.8% | 24.4% | — | 2.9% |
| Capex / revenue | 2.7% | 2.1% | 13.2% | 11.3% | 0.8% | 1.8% | 2.2% | 0.8% | 0.6% | 0.0% |
| Capex / operating cash flow | 13.7% | 13.2% | 68.8% | 54.5% | 3.5% | — | 15.0% | 5.2% | — | 0.5% |
| Capex / depreciation | 0.30 | 0.21 | 1.15 | 0.80 | 0.04 | 0.05 | 0.10 | 0.03 | 0.02 | 0.20 |
| Stock-based compensation / revenue | 0.5% | 0.8% | 0.6% | 0.6% | 1.4% | 1.8% | 1.4% | 1.4% | 1.8% | 0.2% |
| SG&A / revenue | 11.5% | 11.2% | 9.8% | 11.2% | 89.3% | 152.8% | 89.5% | 22.3% | 22.3% | 1.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 14.0 | 11.8 | 13.9 | 13.4 | 16.0 | 30.3 | 16.2 | 19.4 | 8.8 | 0.2 |
| Days payables outstanding | 66.2 | 81.9 | 70.7 | 73.4 | 56.1 | 77.6 | 65.1 | 70.4 | 41.0 | 602.2 |
| Cash conversion cycle (days) | -52.2 | -70.1 | -56.8 | -60.0 | -40.2 | -47.3 | -48.9 | -51.0 | -32.2 | -602.1 |
| Receivables turnover | 26.13 | 30.83 | 26.20 | 27.23 | 22.84 | 12.05 | 22.59 | 18.84 | 41.47 | 2,110.40 |
| Payables turnover | 5.51 | 4.45 | 5.16 | 4.97 | 6.50 | 4.71 | 5.61 | 5.19 | 8.90 | 0.61 |
| Asset turnover | 0.33 | 0.33 | 0.30 | 0.23 | 0.19 | 0.10 | 0.18 | 0.16 | 0.24 | 2.13 |
| Average receivables | $171.5M | $118.5M | $123.0M | $94.5M | $93.5M | $95.0M | $89.5M | $97.0M | $43.0M | $2.5M |
| Average payables | $610.0M | $558.5M | $434.0M | $352.0M | $229.0M | $207.0M | $248.5M | $245.5M | $137.0M | $16.5M |
| Intangibles / total assets | 78.8% | 58.0% | 66.4% | 64.6% | 64.0% | 70.0% | 71.8% | 79.3% | 76.8% | 479.0% |
Computed from FWONK's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FWONK valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Formula One Group traded at 44.4 times earnings, against a 10-year median of 27.8. Based on the latest twelve months, the trailing P/E is 110.7 and the forward P/E is 48.1. Formula One Group earned a return on equity of 7.3% and a return on invested capital of 5.0% in fiscal 2025. It ended the year with $5.1 billion of debt and $1.1 billion in cash and short-term investments, net debt of $4.1 billion. The share count rose 198.4% from 83.8M to 250.0M over 9 years.
See the FWONK income statement, the FWONK chart for price history, or the FWONK stock overview for the latest quote and news.
FWONK key metrics FAQ
What is Formula One Group's P/E ratio?
Formula One Group's trailing P/E ratio is 110.7 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 48.1. At the end of fiscal 2025 it was 44.4, compared with a 10-year median of 27.8.
What is Formula One Group's EV/EBITDA?
Formula One Group's enterprise value was 24.9 times EBITDA at the end of fiscal 2025 (enterprise value $28.7 billion, EBITDA $1.2 billion); the current EV/EBITDA is 23.7.
What is Formula One Group's return on equity?
Formula One Group's return on equity (ROE) was 7.3% in fiscal 2025: net income of $555.0 million on average shareholders' equity of $7.6 billion.
What is Formula One Group's ROIC?
Formula One Group's return on invested capital was 5.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Formula One Group have?
Formula One Group had total debt of $5.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.66 and $4.1 billion of net debt (3.53 times EBITDA).
What is Formula One Group's free cash flow yield?
Formula One Group generated $751.0 million of free cash flow in fiscal 2025, a free cash flow yield of 3.0% on its market value at year-end ($24.6 billion).
What is Formula One Group's current ratio?
Formula One Group's current ratio was 1.46 at the end of fiscal 2025: current assets were 1.46 times current liabilities.