Liberty Media Corporation (FWONK) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+118.5%

$204.60

vs $93.62 price

Levered DCF

$90.02

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.97

Grey zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	45.82×	-712.77×	79.91×	24.18×	-74.56×	-16.03×	-32.92×	-45.66×
P/B	3.18×	2.89×	2.3×	1.95×	2.24×	1.46×	1.96×	1.24×
P/S	5.5×	5.85×	4.58×	5.23×	6.64×	8.35×	5.08×	3.75×
EV / EBITDA	24.87×	37.68×	20.49×	19.27×	43.36×	-97.74×	62.17×	25.96×
Gross margin	24.9%	31.9%	30.5%	32.0%	30.3%	14.9%	31.1%	30.3%
Operating margin	13.5%	7.9%	9.2%	6.7%	1.9%	-38.8%	-1.7%	-6.0%
Net margin	12.4%	-0.8%	5.7%	21.7%	-8.9%	-52.1%	-15.4%	-8.2%
Current ratio	1.46×	2.67×	2.17×	2.43×	1.83×	3.27×	1.76×	0.86×
Debt / equity	0.66×	0.4×	0.45×	0.43×	0.57×	0.57×	1.08×	0.91×
Interest coverage	21.57×	1.38×	1.39×	1.16×	0.33×	-3.04×	-0.18×	-0.57×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.2%	-0.4%	2.9%	8.1%	-3.0%	-9.1%	-5.9%	-2.7%
Return on invested capital	3.4%	-4.8%	2.7%	1.7%	0.3%	-3.5%	-0.2%	-0.8%
Return on assets	3.6%	-0.3%	1.8%	5.1%	-1.6%	-5.3%	-2.7%	-1.4%
Free cash flow yield	3.0%	2.3%	1.3%	1.8%	3.3%	-1.7%	2.4%	3.7%
Earnings yield	2.3%	-0.1%	1.3%	4.1%	-1.3%	-6.2%	-3.0%	-2.2%
Enterprise value	$28.7B	$21.7B	$16.3B	$14.7B	$15.7B	$11.6B	$15.4B	$11.7B
Net debt / EBITDA	3.53×	0.63×	1.89×	1.59×	4.29×	-17.44×	20.61×	10.79×
Cash conversion cycle (days)	-44	-83	-63	-65	-64	-18	-57	-45