FOX vs FWONA: Fox and Liberty Media Corporation Series A Liberty Formula One compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Fox is the larger company, worth $22.9B, close to Liberty Media Corporation Series A Liberty Formula One's $21.2B.
- Fox grew revenue faster over the last year (+28.1% vs -30.4%).
- Fox keeps more of each dollar of revenue as operating profit (36.6% vs 11.9%).
- On earnings, Fox is the cheaper stock (14.3x vs 37.0x).
- Liberty Media Corporation Series A Liberty Formula One's price assumes faster free cash flow growth: about 9% a year, against 2% for Fox (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | FOX | FWONA |
|---|---|---|
| Market cap | $22.9B | $21.2B |
| Share price | $55.89 | $86.67 |
| Revenue (last fiscal year) | $17.1B | $4.5B |
| Free cash flow (last fiscal year) | $1.5B | $789M |
| Revenue growth, last year | +28.1% | -30.4% |
| Revenue growth per year, last 5 fiscal years | +5.2% | -20.8% |
| Operating margin | 36.6% | 11.9% |
| Net margin | 9.8% | 9.4% |
| Return on equity | 14.5% | 5.4% |
| P/E (trailing) | 14.3x | 37.0x |
| Price / free cash flow | 7.63x | 28.3x |
| EV / EBITDA | 9.51x | 19.6x |
| FCF growth the price implies | 1.7% | 8.9% |
| Dividend yield | 1.0% | — |
| Debt / equity | 0.92x | 0.98x |
| Fundamental grade | C | D |
| Superinvestors holding it | 6 | 7 |
| Insider purchases, last 12 months | 4 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Fox
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $14.0B | $1.6B | 34.8% |
| 2023 | $14.9B | $1.4B | 35.0% |
| 2024 | $14.0B | $1.5B | 35.0% |
| 2025 | $16.3B | $3.0B | 35.5% |
| 2026 | $17.1B | $1.5B | 36.6% |
Liberty Media Corporation Series A Liberty Formula One
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $11.4B | $2.0B | 17.3% |
| 2022 | $3.2B | $2.2B | 4.6% |
| 2023 | $3.6B | $2.0B | 7.4% |
| 2024 | $3.7B | $492M | 7.9% |
| 2025 | $4.5B | $789M | 12.9% |
Where the revenue comes from
Fox · by segments, 2026
Television$9.7B57%
Cable Network Programming$7.3B43%
Liberty Media Corporation Series A Liberty Formula One · by products, 2025
Motorsport$4.1B92%
Other$377M8%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open FOX in InvestinglyQuestions
Which is bigger, Fox or Liberty Media Corporation Series A Liberty Formula One?
Fox (FOX), at $22.9B against $21.2B.
Is FOX or FWONA cheaper?
By trailing P/E, Fox (14.3x) is cheaper than Liberty Media Corporation Series A Liberty Formula One (37.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, FOX or FWONA?
Fox: revenue grew +28.1% over the last year, against -30.4%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.