FWONA vs NWS: Liberty Media Corporation Series A Liberty Formula One and News Corp B compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Liberty Media Corporation Series A Liberty Formula One is the larger company, worth $21.2B, about 1.2 times News Corp B.
- News Corp B grew revenue faster over the last year (+10.8% vs -30.4%).
- News Corp B keeps more of each dollar of revenue as operating profit (56.9% vs 11.9%).
- On earnings, Liberty Media Corporation Series A Liberty Formula One is the cheaper stock (37.0x vs 39.8x).
- Liberty Media Corporation Series A Liberty Formula One's price assumes faster free cash flow growth: about 9% a year, against 6% for News Corp B (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 | NWS |
|---|---|---|
| Market cap | $21.2B | $17.2B |
| Share price | $86.67 | $32.01 |
| Revenue (last fiscal year) | $4.5B | $9.0B |
| Free cash flow (last fiscal year) | $789M | $811M |
| Revenue growth, last year | -30.4% | +10.8% |
| Revenue growth per year, last 5 fiscal years | -20.8% | -3.4% |
| Operating margin | 11.9% | 56.9% |
| Net margin | 9.4% | 6.3% |
| Return on equity | 5.4% | 6.7% |
| P/E (trailing) | 37.0x | 39.8x |
| Price / free cash flow | 28.3x | 23.6x |
| EV / EBITDA | 19.6x | 10.8x |
| FCF growth the price implies | 8.9% | 5.7% |
| Dividend yield | — | 0.63% |
| Debt / equity | 0.98x | 0.74x |
| Fundamental grade | D | C |
| Superinvestors holding it | 7 | 3 |
| Insider purchases, last 12 months | 0 | 0 |
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% |
News Corp B
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $10.4B | $855M | 50.7% |
| 2023 | $8.0B | $745M | 51.2% |
| 2024 | $8.3B | $741M | 53.8% |
| 2025 | $8.5B | $571M | 55.8% |
| 2026 | $9.0B | $811M | 56.9% |
Where the revenue comes from
Liberty Media Corporation Series A Liberty Formula One · by products, 2025
News Corp B · by segments, 2026
Questions
Which is bigger, Liberty Media Corporation Series A Liberty Formula One or News Corp B?
Liberty Media Corporation Series A Liberty Formula One (FWONA), at $21.2B against $17.2B.
Is FWONA or NWS cheaper?
By trailing P/E, Liberty Media Corporation Series A Liberty Formula One (37.0x) is cheaper than News Corp B (39.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, FWONA or NWS?
News Corp B: revenue grew +10.8% 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.