Stock

Formula One

FWONA

Entertainment · Communication Services

Also trades as: 0JUJ.L GBP 0.87 (-0.91%)

Price

$86.67

-0.90 (-1.03%)

Market Cap

$21.72B

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Oct 10, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Mixed

9/30

Growth

Good

11/20

Cash Flow

Exceptional

9/10

Stability

Good

5/10

Valuation

Good

5/10

Ownership

Mixed

6/15

Dividends

Not counted

n/a

45 of 95 counted points = Winston Score 47. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+5.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 240.0M (2021) → 252.0M (2025)

§Winston Score History

The full picture

Formula One Group engages in the motorsports business in the United States and internationally. It holds commercial rights for the world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. The company was founded in 1950 and is based in Englewood, Colorado. Formula One Group is a subsidiary of Liberty Media Corporation.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-30.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-98.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

3.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$1.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Formula One's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

35.2%

Modest — 35.2% gross margin

Profit after running costs

Operating Margin

9.4%

Modest — 9.4% operating margin

Return on the money invested

ROCE

4.3%

Weak — 4.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+12.2%

Fast-growing sales (+12.2% YoY)

Profit growth

EPS YoY

+76.9%

Earnings growing fast (+76.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

198%

Turns 198% of profit into real cash

Spare cash per sale

FCF Margin

18.1%

Converts sales into free cash efficiently (18.1%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.65

Moderate — manageable debt (0.65)

Covers its interest

Interest Cover

2.27x

Tight — interest eats into profit (2.3x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

47.1x

Expensive — P/E 47.1

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+17.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (47.1 → 30.0)

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Dividends

Not applicable for this business.

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