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Development of Business 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)…
12.87% operating margin is respectable but not wide. ROIC at 3.59%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue up 22.7% YoY with margins expanding 5.0pp.
Net debt of $4.07B represents 5.2x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$4.75B
▲ +22.7% YoY
Net Income (TTM)
$607M
▲ +126.9% YoY
Op. Margin
14.92%
▲ +5.0pp YoY
ROIC
4.14%
▲ +2.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$768M
▲ +60.4% YoY
Op. Cash Flow (TTM)
$874M
▲ +60.1% YoY
Net Debt
$3.69B
Cash & Equiv.
$1.33B
5Y CAGR: -13.7%
5Y CAGR: -9.2%
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