Formula One

FWONB

Entertainment · Communication Services

Exchange

Other OTC

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Exceptional

Stability

Good

Valuation

Weak

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Winston Score History

The full picture

Formula One Group owns and operates the Formula 1 World Championship, the premier global motorsport racing series. It sells broadcast rights to TV networks, organizes races at circuits around the world, and earns money from team fees and sponsorships. The main customers are broadcasters, race promoters, corporate sponsors, and tens of millions of fans worldwide.

The company makes money through three main streams: media rights deals with broadcasters like ESPN and Sky Sports, race promotion fees paid by host cities and circuits, and sponsorship and advertising contracts. Formula 1 races in over 20 countries across Europe, the Americas, Asia, and the Middle East, giving it a truly global footprint. The sport has a strong moat because it controls an irreplaceable racing series with decades of history and locked-in team participation agreements. The key growth driver is expanding its fanbase in the United States, where interest has surged, though rising race hosting costs and competition for entertainment spending remain ongoing risks.

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

Insider Activity

99.0%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)

52.2x

no trend

Expensive — P/E 52.2

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

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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