FWONANasdaqTelevision Broadcasting StationsFiscal year ends December 31Also trades as FWONB, FWONK
Liberty Media Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$82.39−0.79 (-0.95%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
12.9%+11.0 pts over 5 years
Net margin
12.4%+27.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +22.7% | +12.3% | -13.7% | -0.7% | |
| Operating income | +101.0% | +58.5% | +26.7% | -4.9% | |
| Net income | – | -32.6% | – | +24.1% | |
| Free cash flow | +60.4% | +43.1% | -9.2% | -1.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 6.0% | -9.1% | 7.5% | |
| Return on assets | 2.2% | -3.2% | 3.9% | |
| Current ratio | 0.36 | 0.90 | 1.46 | |
| Debt to equity | 0.68 | 1.15 | 0.66 | |
| Net debt to EBITDA | 3.57× | 11.55× | 4.17× | |
| Interest coverage | 4.8× | 0.3× | 2.3× | |
| Capex to revenue | 10.8% | 4.8% | 2.7% |
Where the cash went
Fiscal 2021 to 2025, five years combined
Liberty Media generated $5.14B from operations and spent $2.00B on capital expenditure, dividends and share buybacks. 70% of that went back into the business.
Generated
$5.14B
Used
$2.00B
Capital expenditure$1.40B70%Dividends$00%Share buybacks$592.00M30%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin12.4%
×Asset turnover0.32×
×Equity multiplier1.92×
=Return on equity, FY20257.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 12.4% | 0.32× | 1.92× | 7.5% |
| FY2024 | -56.5% | 0.13× | 2.32× | -17.6% |
| FY2023 | 21.3% | 0.09× | 2.59× | 4.7% |
| FY2022 | 57.4% | 0.07× | 2.83× | 11.8% |
| FY2021 | 3.5% | 0.26× | 2.97× | 2.7% |
| FY2020 | -15.2% | 0.21× | 2.81× | -9.1% |
| FY2019 | 1.0% | 0.24× | 2.58× | 0.6% |
| FY2018 | 6.6% | 0.19× | 2.47× | 3.2% |
| FY2017 | 17.8% | 0.21× | 2.56× | 9.4% |
| FY2016 | 12.9% | 0.17× | 2.70× | 6.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$555.00M
- Cash generatingOperating cash flow above zero$908.00M
- Return on assets improvedROA up on the prior year-5.0% → 4.3%
- Earnings backed by cashOperating cash flow above net income$908.00M vs $555.00M
- Less leverageLong-term debt to assets fell22.8% → 32.8%
- Better liquidityCurrent ratio rose2.95 → 1.46
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.09 → 0.34