Liberty Media Corporation - Liberty Formula One Series A
FWONA Communication Services Entertainment
Revenue growth for five consecutive years, operating cash flow growth for five.
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Liberty Media Corporation - Liberty Formula One Series A (FWONA) Piotroski F-score
Liberty Media Corporation - Liberty Formula One Series A's Piotroski F-score for fiscal 2022 is 7 out of 9: 7 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2021.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2022 | 7 | 0.00 |
| FY2021 | 7 | 4.00 |
| FY2020 | 3 | — |
How fiscal 2022’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 4.92% | (1.66%) | Pass | 1 |
| Positive operating cash flow | 534.00m | 481.00m | Pass | 1 |
| Rising return on assets | 4.92% | (1.66%) | Pass | 1 |
| Cash flow above net income | (24.00m) | 671.00m | Fail | 0 |
| Falling long-term leverage | 0.25 | 0.26 | Pass | 1 |
| Rising current ratio | 2.43 | 1.83 | Pass | 1 |
| No new shares issued | 233,000,000 | 232,000,000 | Fail | 0 |
| Rising gross margin | 17.92% | 11.70% | Pass | 1 |
| Rising asset turnover | 0.23 | 0.19 | Pass | 1 |
| Piotroski F-score | Strong — most fundamentals improved | 7 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| FOXA Fox Corporation compare | 8 |
| FOX Fox Corporation compare | 8 |
| TKO TKO Group Holdings, Inc. compare | 7 |
| ROKU Roku, Inc. compare | 7 |
| FWONK Liberty Media Corporation - Liberty Formula One Series C compare | 7 |
| FWONA Liberty Media Corporation - Liberty Formula One Series A | 7 |
| NWSA News Corporation compare | 6 |
| NWS News Corporation compare | 6 |
| WMG Warner Music Group Corp. compare | 3 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover