Liberty Media Corp. (FWONK) intrinsic value & 10-year financials
Liberty Media Corp. (FWONK) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 1.8% a year to $4.5B, with an average return on invested capital of 4.2%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $90.81
- Revenue (FY2025)
- $4.5B
- Revenue growth (10-yr CAGR)
- -1.8%
- ROIC (10-yr avg)
- 4.2%
- Free cash flow (FY2025)
- $789.0M
FWONK 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.5B | $555.0M | — | $789.0M | 12.9% | 4.5% |
| FY2024 | $3.7B | -$2.1B | — | $478.0M | 7.6% | 1.5% |
| FY2023 | $12.5B | $761.0M | — | $1.4B | 16.5% | 5.5% |
| FY2022 | $12.2B | $1.8B | — | $1.8B | 17.0% | 6.6% |
| FY2021 | $11.4B | $398.0M | — | $2.0B | 17.3% | 6.2% |
| FY2020 | $9.4B | -$1.4B | — | $1.3B | 1.9% | 0.6% |
| FY2019 | $10.3B | $106.0M | — | $1.8B | 14.3% | 2.4% |
| FY2018 | $8.0B | $531.0M | — | $1.8B | 18.8% | 3.9% |
| FY2017 | $7.6B | $1.4B | — | $1.2B | 18.4% | 5.8% |
| FY2016 | $5.3B | $680.0M | — | $1.6B | 32.9% | 5.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Liberty Media Corp is facing top-line stagnation, with revenue contracting over the decade.
Liberty Media Corp has historically struggled to out-earn its cost of capital, averaging just 4.2% ROIC.
Liberty Media Corp has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Liberty Media Corp is modeled at -1.8% normalized earnings growth with a 5.1% bond-yield adjustment.