FWONA vs LYV: Liberty Media Corporation Series A Liberty Formula One and Live Nation Entertainment compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Live Nation Entertainment is the larger company, worth $38.4B, about 1.8 times Liberty Media Corporation Series A Liberty Formula One.
- Live Nation Entertainment grew revenue faster over the last year (+9.4% vs -30.4%).
- Liberty Media Corporation Series A Liberty Formula One keeps more of each dollar of revenue as operating profit (11.9% vs 3.0%).
- Live Nation Entertainment's price assumes faster free cash flow growth: about 28% a year, against 9% for Liberty Media Corporation Series A Liberty Formula One (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 | FWONA | LYV |
|---|---|---|
| Market cap | $21.2B | $38.4B |
| Share price | $86.67 | $170.33 |
| Revenue (last fiscal year) | $4.5B | $25.2B |
| Free cash flow (last fiscal year) | $789M | $334M |
| Revenue growth, last year | -30.4% | +9.4% |
| Revenue growth per year, last 5 fiscal years | -20.8% | +41.6% |
| Operating margin | 11.9% | 3.0% |
| Net margin | 9.4% | 0.51% |
| Return on equity | 5.4% | 163.6% |
| P/E (trailing) | 37.0x | — |
| Price / free cash flow | 28.3x | 115.0x |
| EV / EBITDA | 19.6x | 24.4x |
| FCF growth the price implies | 8.9% | 28.3% |
| Dividend yield | — | — |
| Debt / equity | 0.98x | 333.1x |
| Fundamental grade | D | D |
| Superinvestors holding it | 7 | 0 |
| Insider purchases, last 12 months | 0 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
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% |
Live Nation Entertainment
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $6.3B | $1.6B | -6.7% |
| 2022 | $16.7B | $1.5B | 4.3% |
| 2023 | $22.7B | $924M | 4.8% |
| 2024 | $23.2B | $1.1B | 3.6% |
| 2025 | $25.2B | $334M | 5.0% |
Where the revenue comes from
Liberty Media Corporation Series A Liberty Formula One · by products, 2025
Motorsport$4.1B92%
Other$377M8%
Live Nation Entertainment · by segments, 2025
Concerts$20.9B83%
Ticketing$3.1B12%
Sponsorship and Advertising$1.3B5%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open FWONA in InvestinglyQuestions
Which is bigger, Liberty Media Corporation Series A Liberty Formula One or Live Nation Entertainment?
Live Nation Entertainment (LYV), at $38.4B against $21.2B.
Which grows faster, FWONA or LYV?
Live Nation Entertainment: revenue grew +9.4% 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.