Liberty Media (FWONA)
Market Price (4/15/2026): $83.36 | Market Cap: $20.8 BilSector: Communication Services | Industry: Movies & Entertainment
Liberty Media (FWONA)
Market Price (4/15/2026): $83.36Market Cap: $20.8 BilSector: Communication ServicesIndustry: Movies & Entertainment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 23% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17% Low stock price volatilityVol 12M is 23% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Digital Content & Streaming. Themes include Experiential Retail, Travel & Leisure Tech, Show more. | Weak multi-year price returns3Y Excs Rtn is -9.9% | Key risksFWONA key risks include [1] declining profitability driven by increasing operational costs, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 23% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17% |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Digital Content & Streaming. Themes include Experiential Retail, Travel & Leisure Tech, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -9.9% |
| Key risksFWONA key risks include [1] declining profitability driven by increasing operational costs, Show more. |
Qualitative Assessment
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Liberty Media (FWONA) stock has lost about 5% since 12/31/2025 because of the following key factors:
1. Disappointing Q4 2025 Earnings Miss.
Liberty Media Corporation - Liberty Formula One Series A (FWONA) reported quarterly earnings of $0.39 per share for Q4 2025, falling short of the Zacks Consensus Estimate of $0.44 per share by 11.36%.
2. Negative Analyst Revisions and Price Target Reductions.
In March 2026, Citigroup lowered its price target for FWONA from $100 to $95, marking a 5% decrease. The average analyst price target for FWONA also saw a downward revision of 0.35% in the past three months.
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1. Disappointing Q4 2025 Earnings Miss.
Liberty Media Corporation - Liberty Formula One Series A (FWONA) reported quarterly earnings of $0.39 per share for Q4 2025, falling short of the Zacks Consensus Estimate of $0.44 per share by 11.36%.
2. Negative Analyst Revisions and Price Target Reductions.
In March 2026, Citigroup lowered its price target for FWONA from $100 to $95, marking a 5% decrease. The average analyst price target for FWONA also saw a downward revision of 0.35% in the past three months.
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Stock Movement Drivers
Fundamental Drivers
The -6.7% change in FWONA stock from 12/31/2025 to 4/14/2026 was primarily driven by a -15.9% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 89.38 | 83.36 | -6.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,040 | 4,482 | 10.9% |
| P/S Multiple | 5.5 | 4.6 | -15.9% |
| Shares Outstanding (Mil) | 250 | 250 | 0.0% |
| Cumulative Contribution | -6.7% |
Market Drivers
12/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| FWONA | -6.7% | |
| Market (SPY) | -5.4% | 12.1% |
| Sector (XLC) | -1.0% | 29.9% |
Fundamental Drivers
The -12.5% change in FWONA stock from 9/30/2025 to 4/14/2026 was primarily driven by a -24.5% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 95.22 | 83.36 | -12.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,866 | 4,482 | 15.9% |
| P/S Multiple | 6.2 | 4.6 | -24.5% |
| Shares Outstanding (Mil) | 250 | 250 | 0.0% |
| Cumulative Contribution | -12.5% |
Market Drivers
9/30/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| FWONA | -12.5% | |
| Market (SPY) | -2.9% | 12.1% |
| Sector (XLC) | -1.2% | 24.9% |
Fundamental Drivers
The 2.3% change in FWONA stock from 3/31/2025 to 4/14/2026 was primarily driven by a 22.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 81.47 | 83.36 | 2.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,653 | 4,482 | 22.7% |
| P/S Multiple | 5.6 | 4.6 | -16.3% |
| Shares Outstanding (Mil) | 249 | 250 | -0.4% |
| Cumulative Contribution | 2.3% |
Market Drivers
3/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| FWONA | 2.3% | |
| Market (SPY) | 16.3% | 39.6% |
| Sector (XLC) | 22.0% | 43.9% |
Fundamental Drivers
The 59.8% change in FWONA stock from 3/31/2023 to 4/14/2026 was primarily driven by a 77.9% change in the company's P/E Multiple.| (LTM values as of) | 3312023 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.15 | 83.36 | 59.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,573 | 4,482 | 74.2% |
| Net Income Margin (%) | 21.7% | 12.0% | -44.7% |
| P/E Multiple | 21.8 | 38.7 | 77.9% |
| Shares Outstanding (Mil) | 233 | 250 | -6.8% |
| Cumulative Contribution | 59.8% |
Market Drivers
3/31/2023 to 4/14/2026| Return | Correlation | |
|---|---|---|
| FWONA | 59.8% | |
| Market (SPY) | 63.3% | 40.2% |
| Sector (XLC) | 107.1% | 40.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FWONA Return | 37% | 0% | 11% | 45% | 6% | -9% | 115% |
| Peers Return | 5% | -45% | 38% | 53% | 15% | -4% | 33% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 81% |
Monthly Win Rates [3] | |||||||
| FWONA Win Rate | 50% | 0% | 25% | 75% | 50% | 50% | |
| Peers Win Rate | 48% | 27% | 53% | 67% | 53% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| FWONA Max Drawdown | -6% | 0% | 0% | -3% | -16% | -17% | |
| Peers Max Drawdown | -18% | -50% | -8% | -7% | -13% | -13% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LYV, TKO, SPOT, DIS, CMCSA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/14/2026 (YTD)
How Low Can It Go
| Event | FWONA | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -16.4% | -25.4% |
| % Gain to Breakeven | 19.6% | 34.1% |
| Time to Breakeven | 160 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -60.8% | -33.9% |
| % Gain to Breakeven | 154.9% | 51.3% |
| Time to Breakeven | 532 days | 148 days |
| 2018 Correction | ||
| % Loss | -31.1% | -19.8% |
| % Gain to Breakeven | 45.1% | 24.7% |
| Time to Breakeven | 227 days | 120 days |
Compare to LYV, TKO, SPOT, DIS, CMCSA
In The Past
Liberty Media's stock fell -16.4% during the 2022 Inflation Shock from a high on 8/4/2023. A -16.4% loss requires a 19.6% gain to breakeven.
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About Liberty Media (FWONA)
The Liberty Braves Group, through its subsidiary, Braves Holdings, LLC, owns the Atlanta Braves Major League Baseball Club, various assets and liabilities associated with ANLBC's stadium, and mixed-use development project. The company is based in Englewood, Colorado. The Liberty Braves Group is a subsidiary of Liberty Media Corporation.
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Here are 1-3 brief analogies for Liberty Media (FWONA):- Like Madison Square Garden Sports (MSGS) for a baseball team.
- Imagine a publicly traded company that owns the New York Yankees, their stadium, and all the surrounding commercial properties.
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```html- Professional Baseball Team Ownership: Operates the Atlanta Braves Major League Baseball Club.
- Stadium Operations and Management: Manages the assets and liabilities related to the Atlanta Braves' stadium.
- Mixed-Use Real Estate Development: Develops and manages a mixed-use project adjacent to the stadium.
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Liberty Media (symbol: FWONA), through its subsidiary the Liberty Braves Group, primarily serves individual customers. Its business operations, centered around the Atlanta Braves Major League Baseball Club and the associated mixed-use development, cater to a broad base of individual consumers.
The major categories of individual customers include:
- Sports Fans and Spectators: These are individuals who purchase tickets to Atlanta Braves games (including single-game, season, and group tickets), attend live events at Truist Park, and buy concessions, food, beverages, and parking during these events.
- Consumers of Team Merchandise: This category includes individuals who purchase official Atlanta Braves branded apparel, souvenirs, collectibles, and other merchandise through team stores, online retail channels, or other licensed vendors.
- Visitors and Residents of The Battery Atlanta: These are individuals who frequent the mixed-use development adjacent to Truist Park for dining, shopping, entertainment, residential living, or hospitality services, often independent of attending a baseball game. Their patronage of businesses within The Battery Atlanta contributes to the overall revenue generated by the Liberty Braves Group's assets.
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- Aramark (ARMK)
- Nike (NKE)
- Live Nation Entertainment (LYV)
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Please find below the management team members for Atlanta Braves Holdings, Inc. (formerly the Liberty Braves Group, as described in your background).Terry McGuirk
Chairman, President & CEO, Atlanta Braves Holdings, Inc.Terry McGuirk serves as the Chairman, President & CEO of Atlanta Braves Holdings, Inc., overseeing all aspects of the Braves franchise, including team and player personnel operations, business operations, Truist Park, and representation at Major League Baseball ownership meetings. He is also the Chairman of Braves Development Company, which operates The Battery Atlanta mixed-use development adjacent to Truist Park. McGuirk's career spans nearly five decades, beginning at Turner Broadcasting System, Inc. (TBS) in 1972, where he rose through executive ranks to become President of Turner Sports, and later Chairman, President, and CEO of TBS from 1996 to 2001. He was instrumental in securing Olympics coverage for cable television for the first time. From 2001 to 2003, he was Vice Chairman of TBS and CEO of its Atlanta sports teams, including the Braves.
Derek Schiller
President and CEO, Atlanta BravesDerek Schiller is the President and Chief Executive Officer of the Atlanta Braves, managing all business and ballpark functions of the team, including revenue-driven areas like corporate partnerships, ticket sales, broadcasting, and retail, as well as service-driven departments. He joined the Braves organization in November 2003 as senior vice president of sales and marketing and was promoted to executive vice president before becoming President in 2016 and President and CEO in 2018. Schiller played a key role in the development of Truist Park and the adjacent mixed-use district, The Battery Atlanta, emphasizing innovation and technology.
Brian J. Wendling
Chief Accounting Officer and Principal Financial Officer, Liberty Media CorporationBrian J. Wendling serves as the Chief Accounting Officer and Principal Financial Officer of Liberty Media Corporation. While the explicit CFO for Atlanta Braves Holdings, Inc. is not immediately available in the provided snippets, Liberty Media Corporation's filings indicate shared principal financial officers for its tracking stocks at times. Mr. Wendling has held various positions with Liberty Media and its predecessors since 1999, and prior to that, he worked in the assurance practice of KPMG. He also serves on the board of Comscore, Inc.
Renee L. Wilm
Chief Legal Officer, Chief Administrative Officer, Liberty Media CorporationRenee L. Wilm holds the titles of Chief Legal Officer and Chief Administrative Officer for Liberty Media Corporation. While specifically for Liberty Media, these roles often encompass oversight for subsidiaries, including legal and administrative functions. More specific details for her background with respect to founding/managing other companies or private equity involvement are not explicitly stated in the provided snippets.
Scott K. McCune
Director, Atlanta Braves Holdings, Inc.Scott K. McCune is a Director of Atlanta Braves Holdings, Inc. He is the Founder of MS&E Ventures, a firm focused on creating new business value for brands through media, sports, and entertainment. Prior to his retirement in March 2014, Mr. McCune spent 20 years at The Coca-Cola Company in various roles, including Vice President, Global Partnerships & Experiential Marketing; Vice President Global Media and Integrated Marketing; and Vice President, Global Media, Sports & Entertainment Marketing and Licensing. He also spent 10 years at Anheuser-Busch Inc. in marketing and media positions.
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The key risks to Liberty Media (symbol: FWONA), which operates through its subsidiary, Braves Holdings, LLC, owning the Atlanta Braves Major League Baseball Club and associated mixed-use development, are as follows:- Uncertainty in Broadcasting Revenue: The company faces significant challenges due to its heavy reliance on a limited number of broadcasting partners and the evolving media landscape, including shifts in consumer preferences towards streaming and the financial stability of regional sports networks. The termination of previous agreements and the introduction of new platforms like BravesVision may not generate equivalent revenue.
- Dependence on On-Field Performance and Player-Related Risks: The financial performance of the Atlanta Braves is closely tied to the team's success on the field, impacting ticket sales, broadcasting revenue, and merchandise. Additionally, long-term player contracts can pose financial risks if players do not perform as expected, and injuries to key players can affect both on-field performance and financial results. Labor disputes within Major League Baseball can also lead to disruptions.
- Real Estate Market Risks for Mixed-Use Development: The Battery Atlanta, the company's mixed-use development project, is subject to various real estate market risks. These include fluctuations in property values due to higher interest rates, contraction in business demand, pressure on commercial rental rates, and potential tenant defaults. The success of this development is crucial for generating additional revenue streams.
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The severe financial distress and potential collapse of regional sports networks (RSNs), driven by accelerating cord-cutting, which directly threatens a major revenue stream for the Atlanta Braves through local media rights. Many RSNs are struggling or have filed for bankruptcy, jeopardizing the long-term stability of these contracts and future valuations.
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The addressable markets for Liberty Media's (FWONA) main products and services, primarily through its subsidiary the Liberty Braves Group which owns the Atlanta Braves Major League Baseball Club, its stadium assets, and mixed-use development, are as follows:Major League Baseball (MLB) Market
The Major League Baseball (MLB) market in the United States generated a record US$12.1 billion in revenue in 2024. Globally, the baseball market was valued at USD 15.76 billion in 2024 and is projected to reach USD 25.76 billion by 2030. Another report estimates the global baseball league industry to grow from $27 billion in 2025 to over $38 billion by 2032.Sports Stadium Revenue
The stadium revenue for Major League Baseball (MLB) in the U.S. reached $4.4 billion as of 2022. Across all major professional sports leagues in the U.S., stadiums generated over $17 billion during the 2022-2023 season. The North America smart stadium market, which includes infrastructure and software for modern venues, generated a revenue of USD 6,133.8 million in 2024 and is projected to reach US$13,290.1 million by 2030.Mixed-Use Development and Related Markets (Atlanta Region)
In the Atlanta metropolitan area, new mixed-use developments are a significant and growing market. There is more than $6 billion worth of new developments in the pipeline in Atlanta's real estate sector. Atlanta's retail property market experienced $931 million in sales volume in Q3 2025 and $364 million in Q4 2025. The city's retail market demonstrated consistent demand and steady fundamentals in 2025, with a focus on mixed-use and lifestyle center concepts. The hospitality and tourism industry in Atlanta generated a record $16 billion in economic impact in 2023, with total visitor spending in the Atlanta metro area reaching $10.3 billion annually. Atlanta's nightlife industry alone generates nearly $5.1 billion in annual revenue.AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for Liberty Media (FWONA) over the next 2-3 years:- Expansion and Performance of Mixed-Use Development (The Battery Atlanta): The Liberty Braves Group, a subsidiary of Liberty Media, is expected to continue driving significant revenue growth through its mixed-use development, The Battery Atlanta. This growth is primarily fueled by increasing rental income, new lease commencements, and strategic acquisitions of adjacent real estate assets. For example, mixed-use development revenue for the Braves Holdings surged by 45% in 2025, driven by rental income from new and in-place leases.
- Increased Fan Engagement and Optimized Media Rights for the Atlanta Braves: The Atlanta Braves anticipate continued revenue growth from record-breaking regular season ticket sales and sponsorship revenue, reflecting strong demand for their offerings. A key new initiative is the launch of "BravesVision," an in-house network designed to produce and distribute local game broadcasts. This strategic move to directly manage local media rights is expected to create new revenue streams and optimize financial outcomes by cutting out third-party regional sports networks.
- Growth in Formula 1 Media Rights and Sponsorships: For the Liberty Formula One Group (FWONA), a major driver of future revenue growth is the continued expansion of media rights fees and sponsorship revenue. This is underpinned by a growing global fanbase and increasing viewership, with Formula 1 experiencing significant growth across all primary revenue streams. Analysts project a positive outlook for the company's revenue growth in the coming years.
- Expansion of Formula 1 Race Promotion and Event-Related Revenue: Formula 1's revenue is also significantly boosted by race promotion, including ticketing, hospitality, and other event-related income. The league's ability to host successful events and introduce new races, such as the inaugural Las Vegas Grand Prix, contributes substantially to revenue growth. Demand for races continues to be high, with sellout crowds expected at numerous events.
- Strategic Acquisitions and Portfolio Enhancement: Liberty Media Corporation, as the parent entity, is actively pursuing strategic investments that are expected to enhance its portfolio and drive future revenue. A notable example is the planned acquisition of Dorna Sports, the commercial rights holder for MotoGP. This acquisition is anticipated to broaden Liberty Media's entertainment assets and contribute to overall revenue growth.
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Share Issuance
- In July 2023, Liberty Media completed the split-off of Atlanta Braves Holdings, Inc., resulting in the redemption of existing Liberty Braves common stock in exchange for common stock of Atlanta Braves Holdings, Inc..
- Approximately 10.3 million shares of Series A, 981 thousand shares of Series B, and 50.4 million shares of Series C common stock of Atlanta Braves Holdings were expected to be outstanding following the split-off, including shares issued to settle intergroup interests.
- Approximately 6.8 million shares of Series C common stock of Atlanta Braves Holdings, Inc. were distributed to holders of Liberty Formula One common stock in July 2023 to settle the Braves Group intergroup interest attributed to the Formula One Group.
Outbound Investments
- Atlanta Braves Holdings Inc. strategically acquired the PennantPark office complex to enhance revenue streams and reduce the seasonal nature of baseball income.
Capital Expenditures
- The company has continuously invested in its mixed-use development project, The Battery Atlanta, and the Atlanta Braves team.
- In the fourth quarter of 2021, cash generated from postseason operations helped offset capital expenditures related to the mixed-use development.
- Mixed-use development revenue for Atlanta Braves Holdings increased to $18.6 million in the first quarter of 2025, up from $15.1 million in the prior year, indicating ongoing investment in the project.
Latest Trefis Analyses
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| 02132026 | YELP | Yelp | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 17.9% | 17.9% | -5.7% |
| 02132026 | TRIP | Tripadvisor | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 10.9% | 10.9% | -3.9% |
| 02062026 | OMC | Omnicom | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.9% | 8.9% | -3.7% |
| 01312024 | FWONA | Liberty Media | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 21.1% | 44.5% | -4.1% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 134.44 |
| Mkt Cap | 70.4 |
| Rev LTM | 21,194 |
| Op Inc LTM | 1,715 |
| FCF LTM | 2,015 |
| FCF 3Y Avg | 1,657 |
| CFO LTM | 2,164 |
| CFO 3Y Avg | 1,780 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.2% |
| Rev Chg 3Y Avg | 14.6% |
| Rev Chg Q | 9.0% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 13.8% |
| Op Mgn 3Y Avg | 10.4% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 18.2% |
| CFO/Rev 3Y Avg | 15.8% |
| FCF/Rev LTM | 16.1% |
| FCF/Rev 3Y Avg | 12.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 70.4 |
| P/S | 2.6 |
| P/EBIT | 20.2 |
| P/E | 43.2 |
| P/CFO | 17.9 |
| Total Yield | 4.0% |
| Dividend Yield | 0.2% |
| FCF Yield 3Y Avg | 4.4% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.9% |
| 3M Rtn | -2.1% |
| 6M Rtn | -2.4% |
| 12M Rtn | 19.4% |
| 3Y Rtn | 80.0% |
| 1M Excs Rtn | -3.2% |
| 3M Excs Rtn | -1.0% |
| 6M Excs Rtn | -7.0% |
| 12M Excs Rtn | -13.0% |
| 3Y Excs Rtn | 10.3% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Formula One | 3,411 | 3,222 | 2,573 | 2,136 | 1,145 |
| Corporate and other | 373 | ||||
| Eliminations | -131 | ||||
| Total | 3,653 | 3,222 | 2,573 | 2,136 | 1,145 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Formula One | 9,159 | 9,057 | 8,980 | 8,819 | 8,610 |
| Corporate and other | 2,833 | 1,236 | 2,036 | 2,845 | 2,581 |
| Assets of discontinued operations | 991 | ||||
| Eliminations | 18 | -26 | 0 | ||
| MotoGP | 0 | ||||
| Total | 13,001 | 10,267 | 11,016 | 11,664 | 11,191 |
Price Behavior
Price Behavior
| Market Price | $83.36 | |
| Market Cap ($ Bil) | 20.8 | |
| First Trading Date | 01/10/2013 | |
| Distance from 52W High | -16.1% | |
| 50 Days | 200 Days | |
| DMA Price | $78.98 | $86.95 |
| DMA Trend | down | down |
| Distance from DMA | 5.5% | -4.1% |
| 3M | 1YR | |
| Volatility | 27.7% | 23.2% |
| Downside Capture | 0.13 | 0.20 |
| Upside Capture | 39.46 | 47.50 |
| Correlation (SPY) | 13.6% | 19.5% |
FWONA Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.53 | 0.34 | 0.26 | 0.23 | 0.53 | 0.62 |
| Up Beta | 1.85 | -0.68 | -0.46 | -0.25 | 0.35 | 0.28 |
| Down Beta | -0.60 | 0.26 | -0.10 | 0.09 | 0.77 | 0.93 |
| Up Capture | 40% | 49% | 21% | 8% | 35% | 40% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 11 | 20 | 29 | 59 | 131 | 352 |
| Down Capture | 110% | 56% | 86% | 70% | 71% | 87% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 11 | 22 | 34 | 67 | 119 | 309 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FWONA | |
|---|---|---|---|---|
| FWONA | 15.9% | 23.3% | 0.57 | - |
| Sector ETF (XLC) | 30.1% | 13.9% | 1.65 | 28.5% |
| Equity (SPY) | 24.2% | 12.9% | 1.49 | 19.3% |
| Gold (GLD) | 53.4% | 27.6% | 1.55 | -0.6% |
| Commodities (DBC) | 26.8% | 16.2% | 1.47 | 4.8% |
| Real Estate (VNQ) | 18.7% | 13.8% | 1.00 | 24.8% |
| Bitcoin (BTCUSD) | -6.8% | 42.9% | -0.05 | 14.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FWONA | |
|---|---|---|---|---|
| FWONA | 10.0% | 25.6% | 0.55 | - |
| Sector ETF (XLC) | 9.7% | 20.7% | 0.38 | 41.5% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 41.0% |
| Gold (GLD) | 22.5% | 17.8% | 1.03 | 3.4% |
| Commodities (DBC) | 11.7% | 18.8% | 0.51 | 5.4% |
| Real Estate (VNQ) | 3.9% | 18.8% | 0.11 | 30.4% |
| Bitcoin (BTCUSD) | 5.8% | 56.5% | 0.32 | 14.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FWONA | |
|---|---|---|---|---|
| FWONA | 5.5% | 37.6% | 0.32 | - |
| Sector ETF (XLC) | 9.6% | 22.3% | 0.51 | 53.3% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 44.5% |
| Gold (GLD) | 14.3% | 15.9% | 0.75 | -0.5% |
| Commodities (DBC) | 8.8% | 17.6% | 0.42 | 15.9% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 40.6% |
| Bitcoin (BTCUSD) | 67.7% | 66.9% | 1.07 | 10.3% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/26/2026 | 5.5% | -3.0% | -6.1% |
| 11/5/2025 | 0.7% | 1.1% | -7.0% |
| 8/7/2025 | -0.9% | 2.2% | 6.6% |
| 2/28/2025 | -2.9% | -7.7% | -8.6% |
| 11/12/2024 | -0.4% | -2.2% | 12.5% |
| 8/9/2024 | 1.4% | 4.2% | 3.4% |
| 5/8/2024 | -0.1% | -2.5% | 2.0% |
| 2/28/2024 | 4.4% | 1.0% | -6.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 13 |
| # Negative | 9 | 8 | 8 |
| Median Positive | 0.5% | 1.0% | 3.4% |
| Median Negative | -0.9% | -2.4% | -5.8% |
| Max Positive | 27.0% | 18.6% | 19.3% |
| Max Negative | -3.0% | -7.7% | -8.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Carey, Chase | Direct | Sell | 12182025 | 95.79 | 83,500 | 7,998,417 | 9,038,307 | Form | |
| 2 | Carey, Chase | Direct | Sell | 12182025 | 96.95 | 83,536 | 8,098,493 | 9,147,450 | Form | |
| 3 | Carey, Chase | Direct | Sell | 11142025 | 102.89 | 81,006 | 8,334,322 | 9,578,822 | Form | |
| 4 | Carey, Chase | Direct | Sell | 11122025 | 102.54 | 109,121 | 11,189,255 | 9,546,668 | Form | |
| 5 | Wilm, Renee L | Chief Legal/Admin Officer | Direct | Sell | 11102025 | 102.42 | 4,676 | 478,925 | 2,154,650 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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