Feed / FWONA

Formula One Group

FWONA

Communication Services · 87.33 -1.7% today

Isolated · not yet confirmedMarket checked 11 Sept, 14:55 GMT-4

Market read

Formula One Group's current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.

Company-1.7% todayVolume comparison unavailable
Market group0 of 1 activeFormula One Motorsports · unavailable
Disclosed network0 of 5 confirmingNo filing-linked name is confirming now
What would change this read
  • Consolidated interest expense increased as average debt outstanding rose, despite a lower rate on Formula 1’s senior loan facilities.
  • Motorsport revenue costs increased because of event-calendar freight movements, fuel costs, and unfavorable currency exchange rates.

Invalidation: The isolated read changes if FWONA's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Communication Services · Entertainment

No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Consolidated interest expense increased as average debt outstanding rose, despite a lower rate on Formula 1’s senior loan facilities.
  • Motorsport revenue costs increased because of event-calendar freight movements, fuel costs, and unfavorable currency exchange rates.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements147
Verified relationships6
Evidence supporting the case
  • Latest annual revenue changed +22.7% year over year.
  • Operating margin changed +5.0 percentage points in the latest annual period.
  • Net margin changed +68.9 percentage points in the latest annual period.
  • Input and raw-material costs has repeated favorable evidence across 5 filings.
  • Foreign exchange has repeated favorable evidence across 4 filings.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position

No credible peer-relative valuation comparison is available yet.

Longer-term price context

Price as of Sep 10, 2026

87.03
6m+14.4%12m-4.9%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$11.4B+21.8%
2022-12-31$3.2B-72.3%
2023-12-31$3.6B+13.0%
2024-12-31$3.7B+2.3%
2025-12-31$4.5B+22.7%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesmixed · 5 filings
Consolidated interest expense increased $19 million and $39 million for the three and six months ended June 30, 2026, respectively, as compared to the corresponding periods in the prior year, primarily due to an increase in the average amount of debt outstand…
10-Q · Aug 6, 2026
Input and raw-material costsmixed · 5 filings
Other costs of motorsport revenue decreased $54 million during the three months ended June 30, 2026, as compared to the corresponding period in the prior year, driven by the calendar variance leading to lower costs related to the delivery of hospitality offer…
10-Q · Aug 6, 2026
Foreign exchangemixed · 4 filings
The increase for the six months ended June 30, 2026 was primarily due to an unfavorable change in currency exchange rates.
10-Q · Aug 6, 2026
Macroeconomic conditionsmixed · 2 filings
The increase during the nine months ended September 30, 2025 was also driven by higher freight costs associated with the freight movements required as a result of the different order of Formula 1 Events and cost inflation, higher commissions and partner servi…
10-Q · Nov 5, 2025

Valuation discipline

Descriptive valuation snapshot

Price/sales · EV/sales . Comparisons use only industry-matched filing peers.

Scenario scaffold

No usable price/earnings or price/sales multiple (need a fresh price).

Price action

How the market is pricing the story

87.33-1.7% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 14:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for FWONA. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for FWONA. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind FWONA

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

SIRISirius XM Holdings Inc.distributorNov 5, 2025

On September 9, 2024, Liberty completed the split-off (the “Liberty Sirius XM Holdings Split-Off”) of its wholly owned subsidiary, Liberty Sirius XM Holdings Inc.

LYVLive Nation Entertainment, Inc.investeeMay 7, 2026

I-25 Table of Contents Live Nation Entertainment, Inc.

Depended on by

SIRISirius XM Holdings Inc.partnerApr 30, 2026

Risks Related to the Transactions: • we may have a significant indemnity obligation to Liberty Media, which is not limited in amount or subject to any cap, if the transactions associated with the Split-Off are treated as a taxable transaction; 32 Table of Con…

Filing peers

No filing peers are available for this name yet.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

FWONA is currently a Leader in the organic co-movement group Formula One Motorsports. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for FWONA; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.