Cash flow Formula One Group

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FWONK

US5312297550

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Real-time Estimate Cboe BZX Other stock markets 01:34:26 2026-04-13 pm EDT			5-day change	1st Jan Change
90.72 ^USD	+2.20%		+5.52%	-7.66%

Apr. 01	Formula One Likely to Benefit From Durable, Visible Business Model, BofA Says	MT
Apr. 01	BofA Securities Upgrades Formula One to Buy From Neutral, Price Target is $105	MT

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Published financial data: FORMULA ONE GROUP

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	2.14B	2.57B	3.22B	3.32B	4.1B
Other Revenues, Total	-	-	-	335M	377M
Total Revenues	2.14B	2.57B	3.22B	3.65B	4.48B
Cost of Goods Sold, Total	1.49B	1.75B	2.24B	2.49B	2.97B
Gross Profit	647M	823M	982M	1.16B	1.51B
Selling General & Admin Expenses, Total	210M	288M	316M	408M	514M
Depreciation & Amortization - (IS)	397M	362M	369M	352M	393M
Other Operating Expenses	-	-	-	13M	-
Other Operating Expenses, Total	607M	650M	685M	773M	907M
Operating Income	40M	173M	297M	392M	604M
Interest Expense, Total	-123M	-149M	-214M	-208M	-290M
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-123M	-149M	-214M	-208M	-290M
Income (Loss) On Equity Invest.	23M	-	-4M	-10M	-
Other Non Operating Income (Expenses)	-7M	173M	117M	-52M	446M
EBT, Excl. Unusual Items	-67M	197M	196M	122M	760M
Merger & Related Restructuring Charges	-	-	-	-32M	-27M
Impairment of Goodwill	-	-	-	-73M	-
Gain (Loss) On Sale Of Investments	-90M	54M	15M	-	-
Legal Settlements	-	-	-	-	-
EBT, Incl. Unusual Items	-157M	251M	211M	17M	733M
Income Tax Expense	-37M	-311M	27M	47M	137M
Earnings From Continuing Operations	-120M	562M	184M	-30M	596M
Earnings Of Discontinued Operations	-	-	-	-	-41M
Net Income to Company	-120M	562M	184M	-30M	555M
Minority Interest	-70M	-4M	1M	-	-
Net Income - (IS)	-190M	558M	185M	-30M	555M
Net Income to Common Incl Extra Items	-190M	558M	185M	-30M	555M
Net Income to Common Excl. Extra Items	-190M	558M	185M	-30M	596M
Per Share Items
Net EPS - Basic	-0.82	2.39	0.79	-0.12	2.22
Basic EPS - Continuing Operations	-0.82	2.39	0.79	-0.12	2.38
Basic Weighted Average Shares Outstanding	232M	233M	234M	240M	250M
Net EPS - Diluted	-0.82	2.15	0.62	-0.13	2.02
Diluted EPS - Continuing Operations	-0.82	2.15	0.62	-0.13	2.17
Diluted Weighted Average Shares Outstanding	232M	244M	240M	240M	258M
Normalized Basic EPS	-0.48	0.51	0.53	0.32	1.9
Normalized Diluted EPS	-0.48	0.49	0.51	0.32	1.84
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	437M	535M	666M	744M	997M
EBITA	40M	173M	297M	682M	926M
EBIT	40M	173M	297M	392M	604M
EBITDAR	522M	-	-	806M	1.06B
Total Revenues (As Reported)	2.14B	2.57B	3.22B	3.65B	4.48B
Effective Tax Rate - (Ratio)	23.57	-123.9	12.8	276.47	18.69
Current Domestic Taxes	-5M	-29M	-32M	-46M	-
Current Foreign Taxes	9M	24M	41M	58M	119M
Total Current Taxes	4M	-5M	9M	12M	119M
Deferred Domestic Taxes	46M	24M	40M	6M	-1M
Deferred Foreign Taxes	-87M	-330M	-22M	29M	19M
Total Deferred Taxes	-41M	-306M	18M	35M	18M
Normalized Net Income	-112M	119M	124M	76.25M	475M
Interest on Long-Term Debt	6M	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	-	-	-	34M	54M
Selling and Marketing Expenses	-	-	-	34M	54M
Net Rental Expense, Total	85M	-	-	62M	65M
Imputed Operating Lease Interest Expense	22.64M	-	-	34.5M	36.96M
Imputed Operating Lease Depreciation	62.36M	-	-	27.5M	28.04M
Stock-Based Comp., SG&A Exp. (Total)	29M	16M	20M	30M	21M
Total Stock-Based Compensation	29M	16M	20M	30M	21M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	2.07B	1.73B	1.41B	2.63B	1.06B
Total Cash And Short Term Investments	2.07B	1.73B	1.41B	2.63B	1.06B
Accounts Receivable, Total	66M	123M	123M	114M	229M
Other Receivables	-	-	-	-	-
Total Receivables	66M	123M	123M	114M	229M
Other Current Assets, Total	229M	167M	180M	277M	89M
Total Current Assets	2.37B	2.02B	1.71B	3.02B	1.37B
Gross Property Plant And Equipment	208M	516M	973M	1.01B	1.09B
Accumulated Depreciation	-89M	-108M	-135M	-197M	-219M
Net Property Plant And Equipment	119M	408M	838M	810M	868M
Long-term Investments	221M	253M	41M	33M	-
Goodwill	3.96B	3.96B	3.96B	4.13B	7.02B
Other Intangibles, Total	3.51B	3.16B	2.86B	2.69B	5.1B
Deferred Tax Assets Long-Term	-	-	-	577M	539M
Other Long-Term Assets, Total	1.49B	1.21B	863M	494M	491M
Total Assets	11.66B	11.02B	10.27B	11.76B	15.4B
Liabilities
Accounts Payable, Total	308M	396M	535M	645M	575M
Current Portion of Long-Term Debt	695M	61M	36M	26M	52M
Current Portion of Leases	-	-	-	15M	5M
Unearned Revenue Current, Total	253M	347M	247M	267M	263M
Other Current Liabilities	40M	29M	-31M	177M	44M
Total Current Liabilities	1.3B	833M	787M	1.13B	939M
Long-Term Debt	2.94B	2.89B	2.87B	2.97B	5.05B
Long-Term Leases	-	-	-	29M	19M
Deferred Tax Liability Non Current	-	-	3M	-	656M
Other Non Current Liabilities	492M	362M	188M	246M	286M
Total Liabilities	4.72B	4.08B	3.85B	4.37B	6.95B
Common Stock, Total	6.34B	6.91B	6.42B	7.39B	2M
Retained Earnings	-	-	-	-	7.78B
Comprehensive Income and Other	-	-	-	-	-30M
Total Common Equity	6.34B	6.91B	6.42B	7.39B	7.76B
Minority Interest	600M	25M	-	-	693M
Total Equity	6.94B	6.94B	6.42B	7.39B	8.45B
Total Liabilities And Equity	11.66B	11.02B	10.27B	11.76B	15.4B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	232M	234M	235M	249M	250M
ECS Total Common Shares Outstanding	232M	234M	235M	249M	250M
Book Value / Share	27.31	29.55	27.36	29.64	30.97
Tangible Book Value	-1.12B	-209M	-395M	565M	-4.37B
Tangible Book Value Per Share	-4.84	-0.89	-1.68	2.27	-17.45
Total Debt	3.63B	2.95B	2.91B	3.04B	5.12B
Net Debt	1.56B	1.21B	1.5B	405M	4.07B
Debt Equivalent Oper. Leases	680M	-	-	496M	520M
Minority Interest, Total (Incl. Fin. Div)	600M	25M	-	-	693M
Equity Method Investments, Total	30M	34M	41M	33M	-
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	-	-	-	-	1.67K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-190M	558M	185M	-30M	555M
Depreciation & Amortization - CF	397M	362M	369M	62M	71M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	290M	322M
Depreciation & Amortization, Total	397M	362M	369M	352M	393M
(Gain) Loss on Sale of Investments - (CF)	90M	-54M	-15M	-	-
Asset Writedown & Restructuring Costs	-	-	-	73M	-
(Income) Loss On Equity Investments - (CF)	-23M	-	4M	10M	-
Stock-Based Compensation (CF)	29M	16M	20M	30M	21M
Net Cash From Discontinued Operations	-	-	-	-	-38M
Other Operating Activities, Total	35M	-464M	-76M	197M	-208M
Change In Accounts Payable	145M	203M	86M	-104M	63M
Change in Other Net Operating Assets	-2M	-87M	46M	39M	84M
Cash from Operations	481M	534M	619M	567M	870M
Capital Expenditure	-17M	-291M	-426M	-75M	-119M
Cash Acquisitions	-	-	-	-205M	-3.27B
Investment in Marketable and Equity Securities, Total	64M	10M	-63M	3M	1M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	-647M	675M	-21M	-15M	183M
Cash from Investing	-600M	394M	-510M	-292M	-3.2B
Long-Term Debt Issued, Total	-	2.88B	-	645M	1.75B
Total Debt Issued	-	2.88B	-	645M	1.75B
Long-Term Debt Repaid, Total	-322M	-3.63B	-343M	-677M	-781M
Total Debt Repaid	-322M	-3.63B	-343M	-677M	-781M
Issuance of Common Stock	-	-	-	939M	-
Repurchase of Common Stock	-103M	-37M	-9M	-14M	-
Other Financing Activities, Total	937M	-488M	-83M	72M	-559M
Cash from Financing	512M	-1.27B	-435M	965M	408M
Foreign Exchange Rate Adjustments	-3M	-	1M	-10M	16M
Net Change in Cash	390M	-341M	-325M	1.23B	-1.91B
Supplemental Items
Cash Income Tax Paid (Refund)	-	-	-	-	-
Levered Free Cash Flow	760M	278M	-19.12M	672M	664M
Unlevered Free Cash Flow	837M	371M	115M	802M	846M
Change In Net Working Capital	-403M	-176M	34M	-250M	-173M
Net Debt Issued / Repaid	-322M	-744M	-343M	-32M	967M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.22	0.95	1.74	2.22	2.66
Return on Total Capital	0.24	1.06	1.93	2.48	3.19
Return On Equity %	-1.78	8.1	2.76	-0.43	7.69
Return on Common Equity	-2.95	8.42	2.78	-0.43	8.06
Margin Analysis
Gross Profit Margin %	30.29	31.99	30.48	31.89	33.71
SG&A Margin	9.83	11.19	9.81	11.17	11.47
EBITDA Margin %	20.46	20.79	20.67	20.37	22.24
EBITA Margin %	1.87	6.72	9.22	18.67	20.66
EBIT Margin %	1.87	6.72	9.22	10.73	13.48
Income From Continuing Operations Margin %	-5.62	21.84	5.71	-0.82	13.3
Net Income Margin %	-8.9	21.69	5.74	-0.82	12.38
Net Avail. For Common Margin %	-8.9	21.69	5.74	-0.82	13.3
Normalized Net Income Margin	-5.24	4.63	3.83	2.09	10.6
Levered Free Cash Flow Margin	35.59	10.8	-0.59	18.4	14.82
Unlevered Free Cash Flow Margin	39.19	14.42	3.56	21.95	18.86
Asset Turnover
Asset Turnover	0.19	0.23	0.3	0.33	0.32
Fixed Assets Turnover	17.58	9.76	5.17	4.43	5.34
Receivables Turnover (Average Receivables)	22.84	27.23	26.2	28	17.96
Short Term Liquidity
Current Ratio	1.83	2.43	2.17	2.67	1.46
Quick Ratio	1.65	2.23	1.95	2.43	1.37
Operating Cash Flow to Current Liabilities	0.37	0.64	0.79	0.5	0.93
Days Sales Outstanding (Average Receivables)	15.98	13.41	13.93	13.07	20.32
Average Days Payable Outstanding	56.13	73.42	75.85	82.16	75.19
Long Term Solvency
Total Debt/Equity	52.32	42.49	45.27	41.09	60.64
Total Debt / Total Capital	34.35	29.82	31.16	29.12	37.75
LT Debt/Equity	42.31	41.61	44.71	40.54	59.96
Long-Term Debt / Total Capital	27.77	29.2	30.78	28.73	37.33
Total Liabilities / Total Assets	40.5	37.05	37.48	37.17	45.12
EBIT / Interest Expense	0.33	1.16	1.39	1.88	2.08
EBITDA / Interest Expense	3.55	3.59	3.11	3.88	3.66
(EBITDA - Capex) / Interest Expense	3.41	1.64	1.12	3.51	3.25
Total Debt / EBITDA	8.31	5.51	4.36	3.77	4.82
Net Debt / EBITDA	3.56	2.27	2.25	0.5	3.83
Total Debt / (EBITDA - Capex)	8.65	12.08	12.11	4.15	5.43
Net Debt / (EBITDA - Capex)	3.71	4.98	6.24	0.55	4.31
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	86.55	20.46	25.22	13.38	22.69
Gross Profit, 1 Yr. Growth %	278.36	27.2	19.32	18.64	29.7
EBITDA, 1 Yr. Growth %	-14.67K	22.43	24.49	11.71	34.01
EBITA, 1 Yr. Growth %	-109.01	332.5	71.68	129.63	35.78
EBIT, 1 Yr. Growth %	-109.01	332.5	71.68	31.99	54.08
Earnings From Cont. Operations, 1 Yr. Growth %	-79.8	-568.33	-67.26	-116.3	-1.45K
Net Income, 1 Yr. Growth %	-68.12	-393.68	-66.85	-116.22	-126.9
Normalized Net Income, 1 Yr. Growth %	-66.99	-206.48	3.67	-38.26	-0.55
Diluted EPS Before Extra, 1 Yr. Growth %	-68.09	-361.9	-71.29	-121.08	-1.77K
Accounts Receivable, 1 Yr. Growth %	-45.45	86.36	0	-7.32	0.44
Net Property, Plant and Equip., 1 Yr. Growth %	-4.03	242.86	105.39	-3.34	7.16
Total Assets, 1 Yr. Growth %	4.23	-5.56	-6.8	14.53	18.44
Tangible Book Value, 1 Yr. Growth %	-12.8	-81.41	89	-243.04	-2.22K
Common Equity, 1 Yr. Growth %	-3.21	8.99	-7.11	15.1	10.36
Cash From Operations, 1 Yr. Growth %	-446.04	11.02	15.92	-8.4	-39.37
Capital Expenditures, 1 Yr. Growth %	-19.05	1.61K	46.39	-82.39	58.67
Levered Free Cash Flow, 1 Yr. Growth %	-362.34	-63.43	-106.88	-3.61K	54.7
Unlevered Free Cash Flow, 1 Yr. Growth %	-521.66	-55.66	-69.11	599.67	70.81
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	2.78	49.91	22.82	19.15	12.02
Gross Profit, 2 Yr. CAGR %	1.5	119.38	23.2	18.98	6.51
EBITDA, 2 Yr. CAGR %	2.25	1.24K	23.45	17.93	21.71
EBITA, 2 Yr. CAGR %	6.9	-37.58	172.49	98.55	24.86
EBIT, 2 Yr. CAGR %	6.9	-37.58	172.49	50.53	50.41
Earnings From Cont. Operations, 2 Yr. CAGR %	-37.88	-2.73	23.83	-76.9	185.73
Net Income, 2 Yr. CAGR %	-21.84	-3.24	-1.32	-76.81	-14.6
Normalized Net Income, 2 Yr. CAGR %	-36.93	-40.71	5.07	-19.99	121
Diluted EPS Before Extra, 2 Yr. CAGR %	-22.06	-8.59	-13.28	-75.4	99.38
Accounts Receivable, 2 Yr. CAGR %	-2.2	0.82	36.52	-3.73	36.45
Net Property, Plant and Equip., 2 Yr. CAGR %	3.08	81.39	165.37	40.9	1.77
Total Assets, 2 Yr. CAGR %	0.69	-0.78	-6.18	3.32	22.46
Tangible Book Value, 2 Yr. CAGR %	-38.99	-59.73	-40.72	64.42	232.62
Common Equity, 2 Yr. CAGR %	10.01	2.71	0.62	3.4	9.93
Cash From Operations, 2 Yr. CAGR %	27.91	96	13.44	3.04	-40.58
Capital Expenditures, 2 Yr. CAGR %	-37.84	272.25	400.59	-49.23	-49.19
Levered Free Cash Flow, 2 Yr. CAGR %	47.74	-2.05	-84.14	55.48	427.47
Unlevered Free Cash Flow, 2 Yr. CAGR %	33.43	36.74	-62.99	47	183.94
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.35	8.36	41.18	19.59	20.32
Gross Profit, 3 Yr. CAGR %	5.31	9.43	79.08	21.66	22.45
EBITDA, 3 Yr. CAGR %	7.68	8.57	505.5	19.41	23.06
EBITA, 3 Yr. CAGR %	-28.62	70.34	-12.54	157.38	74.93
EBIT, 3 Yr. CAGR %	-28.62	70.34	-12.54	114	51.7
Earnings From Cont. Operations, 3 Yr. CAGR %	-7.17	21.8	-32.34	-37	1.98
Net Income, 3 Yr. CAGR %	8.2	21.51	-32.29	-45.95	-0.18
Normalized Net Income, 3 Yr. CAGR %	-7.2	-24.9	-28.57	-12	58.57
Diluted EPS Before Extra, 3 Yr. CAGR %	8.05	16.74	-37.86	-45.88	0.42
Accounts Receivable, 3 Yr. CAGR %	-15.66	21.25	0.55	19.98	23.02
Net Property, Plant and Equip., 3 Yr. CAGR %	9.76	53.87	89.06	89.52	28.61
Total Assets, 3 Yr. CAGR %	2.11	-1.44	-2.83	0.27	11.81
Tangible Book Value, 3 Yr. CAGR %	-29.01	-58.94	-32.58	-20.49	175.49
Common Equity, 3 Yr. CAGR %	4.54	9.67	-0.67	5.23	3.93
Cash From Operations, 3 Yr. CAGR %	21.53	22.01	64.52	5.64	17.67
Capital Expenditures, 3 Yr. CAGR %	6.69	87.71	172.73	64.01	-25.77
Levered Free Cash Flow, 3 Yr. CAGR %	27.79	-7.23	-59.59	-4.02	33.69
Unlevered Free Cash Flow, 3 Yr. CAGR %	20.01	-7.58	-16.73	-1.41	31.58
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	7.61	12.02	12.56	31.38
Gross Profit, 5 Yr. CAGR %	-	7.85	12.13	13.15	54.62
EBITDA, 5 Yr. CAGR %	49.77	7.95	13.73	12.22	219.39
EBITA, 5 Yr. CAGR %	-10.07	34.03	21.98	81.11	15.84
EBIT, 5 Yr. CAGR %	-10.07	34.03	21.98	62.12	6.35
Earnings From Cont. Operations, 5 Yr. CAGR %	-18.27	16.94	4.17	-37.36	0.07
Net Income, 5 Yr. CAGR %	-10.4	16.96	4.28	-37.36	-1.42
Normalized Net Income, 5 Yr. CAGR %	36.34	-9.97	-2.48	-22.98	6.99
Diluted EPS Before Extra, 5 Yr. CAGR %	-26.89	12.16	-1.05	-37.38	-3.29
Accounts Receivable, 5 Yr. CAGR %	-	7.93	2.26	10.56	13.61
Net Property, Plant and Equip., 5 Yr. CAGR %	5.98	33.84	56.24	48.54	47.58
Total Assets, 5 Yr. CAGR %	31.25	-1.37	-1.29	0.44	6.59
Tangible Book Value, 5 Yr. CAGR %	-2.64	-42.95	-33.95	-28.48	27.66
Common Equity, 5 Yr. CAGR %	37.58	4.04	2.95	7.12	3.44
Cash From Operations, 5 Yr. CAGR %	4.94	48.08	18.23	14.04	44.31
Capital Expenditures, 5 Yr. CAGR %	53.42	96.24	98	11.26	41.47
Levered Free Cash Flow, 5 Yr. CAGR %	41.16	-5.48	-44.53	14.05	18.05
Unlevered Free Cash Flow, 5 Yr. CAGR %	41.51	-6.01	-25.04	11.27	33.62