Liberty Media Corp FWONA
Liberty Media Corporation ("Liberty", the "Company", "we", "us" and "our"), through its subsidiaries, is primarily engaged in the motorsport and live entertainment industries with events held worldwide and operations primarily headquartered in the United Kingdom ("U.K.") and Spain. Our most significant subsidiaries include Delta Topco Limited (the parent company of Formula 1) ("Delta Topco") and MotoGP.
Braves Holdings, LLC ("Braves Holdings") was a subsidiary of the Company until the Atlanta Braves Holdings Split-Off (defined below) on July 18, 2023. Sirius XM Holdings Inc. ("Sirius XM Holdings") was a subsidiary of the Company until the Liberty Sirius XM Holdings Split-Off (defined below) on September 9, 2024. QuintEvents, LLC ("QuintEvents") was a subsidiary of the Company and Live Nation Entertainment, Inc. ("Live Nation") was an equity affiliate of the Company until the Liberty Live Split-Off (defined below) on December 15, 2025.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.48B | $3.65B | $3.57B | $3.16B | $11.40B | $9.36B | $10.29B | $8.04B | $7.59B | $5.28B |
| Cost of revenue | — | — | — | — | — | — | — | — | $1.22B | — |
| Gross profit | — | — | — | — | — | — | — | — | $6.38B | — |
| SG&A | $514.0M | $421.0M | $659.0M | $393.0M | $1.91B | $1.75B | $1.80B | $1.18B | $1.15B | $886.0M |
| Total operating expenses | $3.90B | $3.37B | $3.31B | $3.02B | $9.42B | $9.19B | $8.82B | $6.53B | $6.20B | $3.54B |
| Operating income | $577.0M | $287.0M | $266.0M | $145.0M | $1.98B | $177.0M | $1.47B | $1.51B | $1.39B | $1.73B |
| Interest expense | $249.0M | $208.0M | $234.0M | $186.0M | $642.0M | $634.0M | $657.0M | $606.0M | $591.0M | $362.0M |
| Pre-tax income | $733.0M | -$24.0M | $97.0M | $707.0M | $789.0M | -$1.44B | $513.0M | $1.04B | $827.0M | $1.42B |
| Income tax | $137.0M | $44.0M | $24.0M | $202.0M | $45.0M | $44.0M | $166.0M | $176.0M | $1.06B | $495.0M |
| Net income | $555.0M | -$2.06B | $761.0M | $1.81B | $398.0M | -$1.42B | $106.0M | $531.0M | $1.35B | $680.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.05B | $2.63B | $1.41B | $1.88B | $2.81B | $2.88B | $1.31B | $452.0M | $1.05B | $572.0M |
| Receivables | $115.0M | $114.0M | $123.0M | $837.0M | $828.0M | $823.0M | $767.0M | $364.0M | $358.0M | $240.0M |
| Total current assets | $1.37B | $3.35B | $3.38B | $3.85B | $4.81B | $4.03B | $2.40B | $1.08B | $1.74B | $1.03B |
| Property, plant and equipment | — | — | — | — | — | — | $2.26B | $2.47B | $2.54B | $2.35B |
| Goodwill | $7.03B | $4.13B | $3.96B | $4.13B | $19.25B | $19.22B | $19.94B | $18.39B | $18.38B | $14.35B |
| Other intangibles | $5.10B | $2.69B | $2.86B | $4.29B | $4.80B | $5.38B | $5.94B | $5.71B | $6.19B | $1.07B |
| Total assets | $15.40B | $13.00B | $41.33B | $42.46B | $44.35B | $44.00B | $44.19B | $40.83B | $42.00B | $31.38B |
| Accounts payable | $575.0M | $649.0M | $474.0M | $1.86B | $1.83B | $1.58B | $1.62B | $1.12B | $1.25B | $985.0M |
| Short-term debt | $52.0M | $26.0M | $106.0M | $1.68B | $2.89B | $743.0M | $60.0M | $17.0M | $768.0M | $5.0M |
| Total current liabilities | $939.0M | $1.13B | $4.74B | $5.41B | $6.61B | $4.49B | $3.89B | $3.24B | $3.98B | $2.87B |
| Long-term debt | $5.05B | $2.97B | $4.12B | $14.95B | $15.70B | $16.69B | $15.42B | $13.37B | $13.19B | $8.01B |
| Total liabilities | $6.95B | $5.95B | $21.88B | $23.34B | $25.51B | $24.40B | $22.26B | $19.13B | $19.42B | $13.66B |
| Retained earnings | $7.79B | $7.18B | $15.06B | $14.59B | $12.72B | $12.32B | $13.75B | $13.64B | $13.08B | $11.73B |
| Total equity | $7.76B | $7.03B | $19.45B | $19.13B | $18.26B | $19.60B | $21.93B | $21.70B | $22.57B | $17.72B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $908.0M | $567.0M | $651.0M | $578.0M | $2.44B | $1.73B | $2.31B | $2.16B | $1.73B | $2.17B |
| Depreciation and amortisation | $71.0M | $62.0M | $79.0M | $73.0M | $270.0M | $268.0M | $271.0M | $251.0M | $230.0M | $186.0M |
| Stock-based compensation | $21.0M | $30.0M | $27.0M | $28.0M | $256.0M | $261.0M | $312.0M | $192.0M | $230.0M | $150.0M |
| Capital expenditure | $119.0M | $75.0M | $461.0M | $309.0M | $440.0M | $452.0M | $510.0M | $403.0M | $517.0M | $568.0M |
| Investing cash flow | -$3.20B | -$292.0M | -$545.0M | $447.0M | -$689.0M | -$736.0M | $314.0M | -$370.0M | -$3.14B | -$1.26B |
| Financing cash flow | $694.0M | $965.0M | -$605.0M | -$1.44B | -$1.70B | $574.0M | -$1.77B | -$2.38B | $1.88B | -$546.0M |
| Buybacks | — | — | — | $37.0M | $555.0M | $318.0M | $443.0M | $466.0M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-020653.
Others in SIC 4833
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|---|---|---|---|---|
| FOXA | Fox Corp | $27.74B | 17.0x | 5.1% |
| NXST | NEXSTAR MEDIA GROUP, INC. | $5.45B | 58.9x | -8.5% |
| VSNT | Versant Media Group, Inc. | $5.43B | — | -5.3% |
| NMAX | Newsmax Inc. | $1.37B | — | 10.7% |
| SBGI | Sinclair, Inc. | $996.5M | — | -10.7% |
| EVC | ENTRAVISION COMMUNICATIONS CORP | $775.6M | — | 22.6% |
| GTN | GRAY MEDIA, INC | $485.1M | — | -15.1% |
| SSP | E.W. SCRIPPS Co | $303.9M | — | -14.3% |