Tearsheet
LLYVA Home Investment Highlights Valuation & Metrics Price Chart Why The Stock Moved Return vs. Risk About LLYVA Interactive Breakdown Better Bets vs. LLYVA Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Trade Sentinel Investor Videos Industry Resource Links External Quote Links

Liberty Live (LLYVA)

Market Price (6/28/2026): $100.03 | Market Cap: $9.2 BilSector: Communication Services | Industry: Movies & Entertainment

Liberty Live (LLYVA)

Market Price (6/28/2026): $100.03
Market Cap: $9.2 Bil
Sector: Communication Services
Industry: Movies & Entertainment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15%

Low stock price volatility
Vol 12M is 31%

Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Travel & Leisure Tech.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -64 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -14%

Expensive valuation multiples
P/SPrice/Sales ratio is 21x

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.9%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.2%

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15%
1 Low stock price volatility
Vol 12M is 31%
2 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Travel & Leisure Tech.
3 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -64 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -14%
5 Expensive valuation multiples
P/SPrice/Sales ratio is 21x
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.9%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.2%

LLYVA in ETFs

Weight = LLYVA's share of each fund

VTI0.00%
ITOT0.00%
IWB0.00%
VB0.02%
ESML0.05%
VBR0.04%
THRO0.03%
IWS0.02%
+5 more covered ETFs

Valuation & Metrics

FYE: 12/31LLYVA [1]S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]$445.6 Mil—
FY 2026 Sales$398.3 Mil—
FY 2027 Sales$426.5 Mil—
FY 2026 Sales Growth-10.6%—
FY 2027 Sales Growth7.1%8.1%
EARNINGS
LTM Net Income (GAAP) [3]$-364.1 Mil—
FY 2026 Net Income (Non-GAAP)$-303.1 Mil—
FY 2027 Net Income (Non-GAAP)$-262.7 Mil—
FY 2027 Net Income Growth—15.2%
FY 2026 EPS (Non-GAAP)$-3.30—
FY 2027 EPS (Non-GAAP)$-2.86—
FY 2027 EPS Growth——
VALUATION
FY 2026 P/S23.13.3
FY 2027 P/S21.6—
FY 2026 P/E—20.3
FY 2027 P/E——

[1] LLYVA forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 6/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).
LLYVAS&P 500
REVENUE GROWTHVERY GOOD
Rev LTM ($ Bil)0.4
Rev Chg Q35.2%8.8%
Rev Chg LTM15.0%7.5%
Rev Chg 3Y Avg15.0%5.9%
PROFITABILITYVERY POOR
Op Inc LTM ($ Bil)-0.1
CFO LTM ($ Bil)-0.0
Net Inc LTM ($ Bil)-0.4
Op Mgn LTM-14.5%18.4%
CFO/Rev LTM-4.9%21.4%
Net Inc Mgn-81.7%13.0%
VALUATIONVERY HIGH
P/S20.63.3
P/CFO-425.415.3
P/FCF-425.419.8
P/E-25.324.6
STABILITYVERY GOOD
Debt/Equity0.200.20
Cash/Assets0.280.07

AI Analysis | Feedback

Metric

Price Chart

null
Upcoming
8/06/2026Earnings ReleaseRev: $93 Mil (E)
EPS: $0.42 (E)

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/10/2026

Liberty Live (LLYVA) stock has gained about 5% since 2/28/2026 because of the following key factors:

1. Mixed Fiscal Q1 2026 Earnings Report Presented Both Positives and Negatives.

Liberty Live Holdings reported mixed results for fiscal Q1 2026, which ended on March 31, 2026. The company experienced a significant net loss of $294.138 million, a substantial increase from the $29.476 million loss in fiscal Q1 2025. This loss was primarily driven by considerable equity losses from its investment in Live Nation and fair-value adjustments on exchangeable debentures reclassified as current debt. Conversely, revenue for the quarter rose to $63.620 million, up from $47.059 million in the prior year, largely due to increased Formula 1 and MotoGP events hosted by its subsidiary, Quint. Additionally, the consolidated Adjusted OIBDA loss narrowed to $7.667 million from $10.297 million, indicating improved underlying operating performance. This combination of strong revenue growth and operational improvements at Quint, alongside substantial net losses from its Live Nation exposure and debt reclassification, created a balanced sentiment, preventing a strong directional move in the stock.

2. Ongoing Live Nation Entertainment Antitrust Trial Introduced Regulatory Uncertainty.

A significant portion of Liberty Live Holdings' value is derived from its ownership in Live Nation Entertainment. During the period, Live Nation was facing an ongoing Department of Justice antitrust trial, with a verdict anticipated in 2026. This pending legal outcome for a key asset introduced substantial uncertainty into Liberty Live's valuation, as investors awaited clarity on potential repercussions, which likely capped any significant upward momentum of the stock.

Show more
Updated on 6/10/2026

Liberty Live (LLYVA) stock has gained about 5% since 2/28/2026 because of the following key factors:

1. Mixed Fiscal Q1 2026 Earnings Report Presented Both Positives and Negatives.

Liberty Live Holdings reported mixed results for fiscal Q1 2026, which ended on March 31, 2026. The company experienced a significant net loss of $294.138 million, a substantial increase from the $29.476 million loss in fiscal Q1 2025. This loss was primarily driven by considerable equity losses from its investment in Live Nation and fair-value adjustments on exchangeable debentures reclassified as current debt. Conversely, revenue for the quarter rose to $63.620 million, up from $47.059 million in the prior year, largely due to increased Formula 1 and MotoGP events hosted by its subsidiary, Quint. Additionally, the consolidated Adjusted OIBDA loss narrowed to $7.667 million from $10.297 million, indicating improved underlying operating performance. This combination of strong revenue growth and operational improvements at Quint, alongside substantial net losses from its Live Nation exposure and debt reclassification, created a balanced sentiment, preventing a strong directional move in the stock.

2. Ongoing Live Nation Entertainment Antitrust Trial Introduced Regulatory Uncertainty.

A significant portion of Liberty Live Holdings' value is derived from its ownership in Live Nation Entertainment. During the period, Live Nation was facing an ongoing Department of Justice antitrust trial, with a verdict anticipated in 2026. This pending legal outcome for a key asset introduced substantial uncertainty into Liberty Live's valuation, as investors awaited clarity on potential repercussions, which likely capped any significant upward momentum of the stock.

3. Ambiguous Analyst Sentiment and Divergent Price Targets Created Balanced Investor Pressure.

Analyst opinions regarding LLYVA during this period were not uniformly bullish or bearish, leading to mixed signals for investors. While some analysts maintained a "Sell" rating for LLYVA as of early June 2026, other reports from May 2026 indicated a "Strong Buy" consensus from one analyst, with a mean price target of $115, suggesting a 15% upside from the then-current price. Earlier, in April 2026, some price targets were even increased by 19.49% to $140.17, and Citizens initiated coverage with a "Market Outperform" recommendation. This divergence in analyst outlook and price target revisions likely contributed to balanced buying and selling pressure, keeping the stock largely within its established range.

4. Reclassification of Exchangeable Senior Debentures to Current Debt Impacted Risk Profile.

In fiscal Q1 2026, Liberty Live Holdings reclassified exchangeable senior debentures with a carrying value of $1.818 billion as current debt. This reclassification altered the company's reported risk profile and liquidity picture. While the company maintained strong liquidity with over $524 million in cash and cash equivalents as of March 31, 2026, the increase in current liabilities due to this reclassification likely introduced investor caution regarding the company's short-term financial obligations. This financial restructuring event, alongside other factors, contributed to the stock's tendency to remain at similar levels as the market assimilated the implications for the company's balance sheet.

Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The 2.7% change in LLYVA stock from 2/28/2026 to 6/27/2026 was primarily driven by a 3.9% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820266272026Change
Stock Price ($)97.0499.632.7%
Change Contribution By: 
Total Revenues ($ Mil)4294463.9%
P/S Multiple20.820.6-1.2%
Shares Outstanding (Mil)92920.0%
Cumulative Contribution2.7%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/27/2026
ReturnCorrelation
LLYVA2.7% 
Market (SPY)6.6%39.2%
Sector (XLC)-9.8%50.3%

Fundamental Drivers

The 29.5% change in LLYVA stock from 11/30/2025 to 6/27/2026 was primarily driven by a 15.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)113020256272026Change
Stock Price ($)76.9299.6329.5%
Change Contribution By: 
Total Revenues ($ Mil)38844615.0%
P/S Multiple18.220.612.7%
Shares Outstanding (Mil)92920.0%
Cumulative Contribution29.5%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/27/2026
ReturnCorrelation
LLYVA29.5% 
Market (SPY)7.3%31.7%
Sector (XLC)-7.4%39.8%

Fundamental Drivers

The 38.6% change in LLYVA stock from 5/31/2025 to 6/27/2026 was primarily driven by a 20.3% change in the company's P/S Multiple.
(LTM values as of)53120256272026Change
Stock Price ($)71.8699.6338.6%
Change Contribution By: 
Total Revenues ($ Mil)38844615.0%
P/S Multiple17.120.620.3%
Shares Outstanding (Mil)92920.2%
Cumulative Contribution38.6%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/27/2026
ReturnCorrelation
LLYVA38.6% 
Market (SPY)25.1%28.1%
Sector (XLC)6.0%35.2%

Fundamental Drivers

null
null

Market Drivers

5/31/2023 to 6/27/2026
ReturnCorrelation
LLYVA  
Market (SPY)81.3%46.8%
Sector (XLC)76.3%45.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
LLYVA Return--2%82%22%21%175%
Peers Return13%-44%48%34%14%0%45%
S&P 500 Return27%-19%24%23%16%7%96%

Monthly Win Rates [3]
LLYVA Win Rate--40%83%58%50% 
Peers Win Rate48%25%47%65%53%47% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
LLYVA Max Drawdown----21%-24%-12% 
Peers Max Drawdown-27%-50%-28%-24%-31%-22% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: NFLX, DIS, LYV, ROKU, FWONA.
[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 6/26/2026 (YTD)

How Low Can It Go

EventLLYVAS&P 500
2025 US Tariff Shock
  % Loss-21.5%-18.8%
  % Gain to Breakeven27.4%23.1%
  Time to Breakeven73 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-17.4%-9.5%
  % Gain to Breakeven21.0%10.5%
  Time to Breakeven52 days24 days

Compare to NFLX, DIS, LYV, ROKU, FWONA

In The Past

Liberty Live's stock fell -21.5% during the 2025 US Tariff Shock. Such a loss loss requires a 27.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventLLYVAS&P 500
2025 US Tariff Shock
  % Loss-21.5%-18.8%
  % Gain to Breakeven27.4%23.1%
  Time to Breakeven73 days79 days

Compare to NFLX, DIS, LYV, ROKU, FWONA

In The Past

Liberty Live's stock fell -21.5% during the 2025 US Tariff Shock. Such a loss loss requires a 27.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Liberty Live (LLYVA)

Liberty Live (LLYVA), officially operating as the Liberty Braves Group, is primarily engaged in the ownership and operation of a professional sports franchise. Its core business revolves around the Atlanta Braves Major League Baseball Club. This encompasses all facets of managing a major league baseball team, including game-day operations, player development, fan engagement, and generating revenue through various baseball-related activities.

In addition to the baseball club, Liberty Live holds significant assets related to the Braves' stadium and an adjacent mixed-use development project. This expands the company's offerings beyond just professional sports entertainment to include revenue streams from stadium operations—such as concessions, merchandise, and event hosting—and real estate within the mixed-use development. The primary customers for Liberty Live are baseball fans, particularly those who support the Atlanta Braves, as well as businesses and individuals interested in the commercial and residential components of the mixed-use development surrounding the stadium.

AI Analysis | Feedback

Here are 1-3 brief analogies for Liberty Live (LLYVA):

  • Like the Madison Square Garden Sports Corp. (MSGS) of Major League Baseball, owning the Atlanta Braves and their associated real estate.
  • Similar to Vail Resorts (MTN), but instead of ski resorts, it owns the Atlanta Braves baseball team and develops the mixed-use area around their stadium.

AI Analysis | Feedback

  • Professional Baseball Team Ownership & Operations: Owns and operates the Atlanta Braves Major League Baseball Club, generating revenue from game tickets, broadcasting rights, and merchandise.
  • Stadium Management & Event Hosting: Manages the stadium where the Atlanta Braves play, facilitating baseball games and other events.
  • Mixed-Use Real Estate Development: Develops and manages a mixed-use project adjacent to the stadium, encompassing various commercial and residential properties.

AI Analysis | Feedback

Liberty Live (LLYVA), through its subsidiary Braves Holdings, LLC, which owns the Atlanta Braves Major League Baseball Club and the associated stadium and mixed-use development (The Battery Atlanta), sells primarily to other companies for its major revenue streams.

Its major customers include:

  • Truist Financial Corporation (TFC): Holds the naming rights for the Atlanta Braves' stadium, Truist Park.
  • Sinclair Broadcast Group (SBGI): Through its subsidiary Bally Sports South, it holds broadcasting rights for Atlanta Braves games.
  • Major Corporate Sponsors and Advertisers: Various large companies, such as The Coca-Cola Company (KO) and Delta Air Lines, Inc. (DAL), enter into significant sponsorship and advertising agreements with the Atlanta Braves.
  • Tenants of The Battery Atlanta: Companies that lease commercial space (e.g., retail, restaurants, hotels, offices) within the mixed-use development adjacent to Truist Park.

AI Analysis | Feedback

  • Compass Group PLC (CPG)
  • Nike, Inc. (NKE)

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

The rise of highly interactive, personalized, and often short-form digital entertainment platforms (such as advanced video gaming, esports, virtual reality experiences, and social media platforms emphasizing brief video content) poses a clear emerging threat to the long-term engagement and fan base for traditional, longer-form sports like baseball. These platforms are increasingly capturing the attention and leisure time of younger demographics, fundamentally altering entertainment consumption habits and challenging the sustained interest required for live sporting events and their associated revenue streams.

AI Analysis | Feedback

Liberty Live (LLYVA), through its subsidiary Braves Holdings, LLC, primarily operates within the professional sports and entertainment industry, centering on the Atlanta Braves Major League Baseball Club, stadium operations, and a mixed-use development project. The addressable markets for its main products and services are primarily within the United States and North America, encompassing key revenue streams such as live sports events, broadcasting rights, sponsorships, and licensed merchandise.

Addressable Markets for Liberty Live's Products and Services:

  • Major League Baseball (MLB) Market: The global baseball league industry is projected to grow from approximately $27 billion in 2025 to over $38 billion by 2032, with North America dominating this market due to the popularity of Major League Baseball. The overall Major League Baseball market is projected to grow from USD 13.2 billion in 2025 to USD 21.0 billion by 2033.
  • U.S. Sports Events Market: The United States sports event market was valued at USD 163.7 billion in 2025 and is expected to reach USD 264.7 billion by 2033, with professional sports events accounting for the largest share. Another estimate places the U.S. Sports Events Market at USD 104.81 billion in 2024, with a projection to reach USD 200.09 billion by 2033. North America accounted for over 37% of the global sports events market, which was estimated at USD 485.14 billion in 2025 and is projected to reach USD 884.69 billion by 2033.
  • U.S. Sports Broadcasting and Media Market: The United States sports broadcasting media market was valued at USD 30.23 billion in 2025 and is expected to grow to USD 34.40 billion by 2035. The U.S. sports broadcasting technology market generated approximately USD 21.99 billion in revenue in 2023 and is anticipated to reach USD 28.62 billion by 2030. American sports rights were estimated to be worth $22.42 billion in 2019, representing about 44% of the total worldwide sports media market.
  • U.S. Sports Sponsorship Market: The sports sponsorship market in the United States was valued at USD 20.31 billion in 2024 and is projected to reach USD 43.45 billion by 2033. North America leads the sports sponsorship market, with a share amounting to USD 22.11 billion in 2024, and is estimated to reach USD 38.79 billion by 2031.
  • U.S. Licensed Sports Merchandise Market: The U.S. licensed sports merchandise market reached USD 15.05 billion in 2025. It is expected to reach a projected revenue of US$ 22.57 billion by 2030, and grow to US$ 20.72 billion by 2033. Overall, the licensed sports merchandise market is projected to reach approximately $30 billion in 2025.

AI Analysis | Feedback

Here are 5 expected drivers of future revenue growth for Liberty Live (LLYVA) over the next 2-3 years:
  1. Continued Expansion and Performance of The Battery Atlanta: The mixed-use development surrounding Truist Park, The Battery Atlanta, is a significant driver of non-baseball related revenue. This segment has shown substantial growth, with a 45% year-over-year increase in revenue in 2025. Its expansion, including the acquisition of adjacent real estate like Pennant Park, and high visitor traffic, are expected to continue driving rental income, parking revenue, and sponsorship income, which are not subject to league revenue sharing.
  2. Direct Monetization from BravesVision: The Atlanta Braves' transition to an in-house broadcasting model, BravesVision, represents a strategic shift to directly control and monetize local media rights. This move, initiated after exiting a regional sports network agreement, is anticipated to create new revenue streams and enhance fan engagement by allowing the team to produce and distribute local game broadcasts directly.
  3. Growth in Live Entertainment Events and Ticketing via Live Nation: As a significant underlying asset of Liberty Live Holdings, Live Nation Entertainment is projected for double-digit growth in operating income for 2026, following a record-breaking 2025. This growth will be driven by promoting a vast number of live music and other events, managing artists, and robust ticket sales through its ticketing segment.
  4. Expansion of Premium Sports and Entertainment Experiences through Quint: Quint, a consolidated subsidiary of Liberty Live, specializes in providing premium sports and entertainment experiences, including hospitality packages for major events like Formula 1, NBA games, and MotoGP. This segment is exploring potential mergers and acquisitions to enhance its capabilities and support long-term growth, with revenue increases seen from events such as NBA Experiences and F1 Experiences.
  5. Sustained Baseball-Related Revenue Growth: The core baseball operations of the Atlanta Braves continue to contribute to revenue growth. This includes consistent performance in traditional areas such as ticket sales, in-park concessions, and sponsorships. The team reported record-breaking regular season ticket sales and sponsorship revenue in 2025, indicating ongoing demand for the Atlanta Braves' brand and events.

AI Analysis | Feedback

null

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Liberty Live Stock 5-Day Winning Spree: Stock Climbs 11%04/07/2026
2LLYVA Stock Surges 22% With A 10-day Spree On Institutional Accumulation02/21/2026
3LLYVA Stock Surges 21% With A 9-day Winning Spree On Institutional Accumulation02/20/2026
4LLYVA Stock Surges 18% With A 8-day Winning Spree On Institutional Accumulation02/19/2026
5LLYVA Stock Surges 18% With A 7-day Winning Spree On Institutional Accumulation02/18/2026
6LLYVA Stock Surges 16% With A 6-day Winning Spree On Institutional Accumulation02/14/2026
7Why Liberty Live Stock Moved: LLYVA Stock Has Gained 124% Since 2023 Fiscal End, Primarily Due To Favorable Change In Revenues08/08/2025
8Liberty Live (LLYVA) Valuation Ratios Comparison05/15/2025
9Liberty Live (LLYVA) Operating Cash Flow Comparison02/17/2025
10Liberty Live (LLYVA) Net Income Comparison02/15/2025
11ARTICLES 
12Small Cap Stocks Trading At 52-Week High08/20/2025

Recent Active Movers

Top Gainers

TickerCompanyMkt Cap (B)1W RtnYTD Rtn
DFTXDefinium Therapeutics, Inc.4.983.6%232.7%
SLSSELLAS Life Sciences2.153.9%228.6%
LILALiberty Latin America1.448.5%-3.5%
LILAKLiberty Latin America1.447.6%-5.2%
ABSIAbsci1.747.0%212.0%
APGEApogee Therapeutics9.246.7%75.6%
GRPNGroupon0.939.6%28.3%
BBBlackBerry6.736.0%200.8%
MANEVeradermics4.535.2%236.1%
CCXIChurchill Capital XI0.834.5%35.1%

Top Losers

TickerCompanyMkt Cap (B)1W RtnYTD Rtn
HTZHertz Global0.8-47.7%-48.6%
HYLNHyliion0.8-45.4%140.2%
VELOVelo3D0.4-44.3%21.1%
NNENano Nuclear Energy1.0-29.6%-17.2%
NVTSNavitas Semiconductor4.0-28.0%142.3%
SOCSable Offshore1.1-27.3%-18.4%
MSTRStrategy27.5-26.9%-45.8%
MRLNMerlin0.4-25.9%-78.9%
ONON Semiconductor35.7-25.5%67.4%
RDWRedwire2.1-23.8%43.8%

Top Gainers

TickerCompanyMkt Cap (B)1M RtnYTD Rtn
NVRIEnviri1.8296.7%344.0%
REPLReplimune1.1147.4%19.7%
ABSIAbsci1.7111.0%212.0%
DFTXDefinium Therapeutics, Inc.4.991.1%232.7%
BFLYButterfly Network2.390.0%133.9%
QUREuniQure3.088.8%98.5%
CDNLCardinal Infrastructure1.485.3%280.5%
APGEApogee Therapeutics9.270.5%75.6%
APPSDigital Turbine1.365.7%121.4%
MBXMBX Biosciences2.464.1%65.9%

Top Losers

TickerCompanyMkt Cap (B)1M RtnYTD Rtn
ADCTADC Therapeutics0.2-70.3%-71.1%
FLYFirefly Aerospace4.1-55.4%14.2%
RDWRedwire2.1-54.5%43.8%
SATLSatellogic0.7-52.7%147.1%
BKSYBlackSky Technology0.9-51.5%32.1%
LUNRIntuitive Machines2.4-50.9%21.9%
HTZHertz Global0.8-49.8%-48.6%
TMCRMetals Royalty0.4-49.5%-52.1%
MSTRStrategy27.5-46.6%-45.8%
PLPlanet Labs PBC8.6-46.4%37.3%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Peers to compare with:

Financials

LLYVANFLXDISLYVROKUFWONAMedian
NameLiberty .Netflix Walt Dis.Live Nat.Roku Liberty . 
Mkt Price99.6373.8198.79179.46135.4084.8899.21
Mkt Cap9.2311.7174.541.720.021.331.5
Rev LTM44646,89097,26325,6124,9654,74615,289
Op Inc LTM-6413,93713,912744104724734
FCF LTM-2211,8947,1101,205538740973
FCF 3Y Avg-8,7628,7881,0784231,4191,419
CFO LTM-2212,65015,7922,4135448461,629
CFO 3Y Avg-9,29915,7751,8894371,6231,889

Growth & Margins

LLYVANFLXDISLYVROKUFWONAMedian
NameLiberty .Netflix Walt Dis.Live Nat.Roku Liberty . 
Rev Chg LTM15.0%16.7%3.4%12.6%16.8%35.1%15.8%
Rev Chg 3Y Avg-13.7%3.8%13.3%16.6%24.6%13.7%
Rev Chg Q35.2%16.2%6.5%12.1%22.4%59.1%19.3%
QoQ Delta Rev Chg LTM3.9%3.8%1.6%1.6%4.8%5.9%3.8%
Op Inc Chg LTM0.1%25.2%1.7%-23.2%151.0%212.1%13.4%
Op Inc Chg 3Y Avg-37.7%25.7%-1.2%76.4%95.1%37.7%
Op Mgn LTM-14.5%29.7%14.3%2.9%2.1%15.3%8.6%
Op Mgn 3Y Avg-26.7%13.6%3.7%-6.9%10.4%10.4%
QoQ Delta Op Mgn LTM0.7%0.2%0.1%-2.0%2.2%1.8%0.5%
CFO/Rev LTM-4.9%27.0%16.2%9.4%11.0%17.8%13.6%
CFO/Rev 3Y Avg-22.6%16.8%7.9%10.3%42.6%16.8%
FCF/Rev LTM-4.9%25.4%7.3%4.7%10.8%15.6%9.1%
FCF/Rev 3Y Avg-21.3%9.4%4.5%9.9%37.3%9.9%

Valuation

LLYVANFLXDISLYVROKUFWONAMedian
NameLiberty .Netflix Walt Dis.Live Nat.Roku Liberty . 
Mkt Cap9.2311.7174.541.720.021.331.5
P/S20.66.61.81.64.04.54.3
P/Op Inc-142.222.412.556.1192.329.425.9
P/EBIT-21.618.412.447.588.720.119.2
P/E-25.223.315.5498.599.136.129.7
P/CFO-423.724.611.017.336.725.221.0
Total Yield-4.0%4.3%6.9%0.2%1.0%2.8%1.9%
Dividend Yield0.0%0.0%0.5%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-2.5%4.7%3.6%3.8%8.5%3.8%
D/E0.20.00.30.30.00.20.2
Net D/E0.10.00.20.0-0.10.20.1

Returns

LLYVANFLXDISLYVROKUFWONAMedian
NameLiberty .Netflix Walt Dis.Live Nat.Roku Liberty . 
1M Rtn4.7%-14.5%-4.8%7.4%3.3%1.5%2.4%
3M Rtn15.3%-21.0%6.9%23.2%55.4%13.0%14.2%
6M Rtn21.5%-21.9%-13.0%23.1%20.8%-4.1%8.3%
12M Rtn26.5%-44.2%-18.7%19.6%55.7%-11.1%4.3%
3Y Rtn178.8%71.7%13.8%102.3%107.6%62.8%87.0%
1M Excs Rtn7.1%-13.3%-3.0%10.0%4.9%4.5%4.7%
3M Excs Rtn-2.2%-34.4%-9.3%6.1%38.5%-2.4%-2.3%
6M Excs Rtn14.6%-27.5%-19.2%18.1%16.3%-10.3%2.2%
12M Excs Rtn8.3%-62.8%-37.4%2.0%41.2%-29.9%-13.9%
3Y Excs Rtn110.4%5.4%-54.4%34.0%41.4%-5.7%19.7%

Comparison Analyses

null

Financials

$ Mil | FY: 12/312026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
Period End3/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
Filing Date5/7/20262/26/202611/5/20258/7/20255/7/20252/27/202511/12/20248/9/20245/8/20242/28/202411/3/2023
Key Financials Quarterly           
Total Revenue64382004734000000
Ebitda-361248-59-219-23-20728177-86-148-22
Operating Income-17-32-9-7-17-42-3-2-2-6-5
Net Income-294161-53-178-29-18915134-73-123-19
EPS-3.201.75-0.58-1.94-0.32-2.060.161.46-0.80-1.34-0.21
Key Financials TTM           
Total Revenue TTM44642938838838834000---
Ebitda TTM-390-52-507-420-24-88-29-79---
Operating Income TTM-64-65-75-69-64-49-13-15---
Net Income TTM-364-99-449-381-69-113-47-81---
Growth Rates Quarterly           
Total Revenue Growth35.2%12.2%---------
EBITDA Growth-1491.2%220.3%-310.7%-223.7%73.6%-39.6%227.3%----
Operating Income Growth3.4%24.8%-200.0%-250.0%-764.1%-603.5%40.0%----
Net Income Growth-897.9%185.3%-453.3%-232.8%59.6%-53.5%178.9%----
Margins Quarterly           
EBITDA Margin-566.8%65.0%---48.2%-60.7%-----
Operating Income Margin-26.2%-8.3%---36.7%-12.4%-----
Net Income Margin-462.3%42.2%---62.6%-55.4%-----
Cash & Debt           
Total Cash5243829730831467388406298305315
Total Debt1,8191,6671,8731,7691,5821,5561,4371,3031,4181,3171,226
Net Debt / (Cash)1,2941,6281,5761,4611,2681,4891,0498971,1201,012911
Cash Flows Quarterly           
FCF from Operations-9-1-120-16-14-42-9-10-
Cash Flows TTM           
FCF from Operations TTM-22-29-42-34-33-25-21----
Returns to Shareholders Quarterly           
Dividends00000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly           
ROIC-3.1%-4.7%-1.8%-1.5%-4.3%-7.6%-0.9%-0.7%-0.6%-1.9%-1.7%
Return on Invested Capital (ROIC) TTM           
ROIC TTM-3.0%-2.8%-3.8%-3.7%-4.1%-2.2%-1.0%-1.3%---

Segment Financials

Revenue by Segment
$ Mil2025
Quint382
Corporate and Other0
Total382


Operating Income by Segment
$ Mil2025
Quint12
Impairment of intangible assets0
Stock-based compensation-6
Depreciation and amortization-26
Corporate and Other-32
Total-52


Assets by Segment
$ Mil202520242023
Corporate and Other1,450  
Quint439  
Single Segment 1,2231,162
Total1,8891,2231,162


Price Behavior

Price Behavior
Market Price$99.63 
Market Cap ($ Bil)9.2 
First Trading Date01/10/2013 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$94.20$88.92
DMA Trendindeterminateup
Distance from DMA5.8%12.0%
 3M1YR
Volatility33.0%30.9%
Downside Capture22.4561.12
Upside Capture61.3576.33
Correlation (SPY)25.6%29.4%
LLYVA Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta1.361.101.491.090.870.01
Up Beta2.110.841.280.861.080.08
Down Beta1.120.481.611.330.92-0.34
Up Capture112%81%123%129%76%133%
Bmk +ve Days13283667141432
Stock +ve Days10213067136387
Down Capture121%237%180%94%75%99%
Bmk -ve Days7132757109318
Stock -ve Days10203356112315

[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 LLYVA
LLYVA30.3%30.8%0.88-
Sector ETF (XLC)1.9%13.5%-0.1035.1%
Equity (SPY)21.2%12.4%1.2628.9%
Gold (GLD)21.8%27.7%0.707.4%
Commodities (DBC)21.8%18.6%0.92-12.0%
Real Estate (VNQ)16.1%13.6%0.8533.5%
Bitcoin (BTCUSD)-44.2%42.5%-1.2513.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with LLYVA
LLYVA23.0%32.4%1.14-
Sector ETF (XLC)7.3%20.7%0.2745.2%
Equity (SPY)13.4%17.1%0.6146.8%
Gold (GLD)17.8%18.3%0.798.8%
Commodities (DBC)7.4%19.5%0.285.9%
Real Estate (VNQ)3.4%18.9%0.0839.0%
Bitcoin (BTCUSD)10.9%54.0%0.3915.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with LLYVA
LLYVA10.9%32.4%1.14-
Sector ETF (XLC)8.7%22.2%0.4545.2%
Equity (SPY)15.2%18.0%0.7246.8%
Gold (GLD)11.8%16.1%0.608.8%
Commodities (DBC)5.9%18.0%0.265.9%
Real Estate (VNQ)5.6%20.7%0.2339.0%
Bitcoin (BTCUSD)54.7%66.4%0.9515.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity1.1 Mil
Short Interest: % Change Since 531202610.0%
Average Daily Volume0.3 Mil
Days-to-Cover Short Interest4.0 days
Basic Shares Quantity91.9 Mil
Short % of Basic Shares1.2%

Earnings Returns History

Updated 6/3/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   
 Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/05/202510-Q
06/30/202508/07/202510-Q
03/31/202505/07/202510-Q
12/31/202402/27/202510-K
09/30/202411/12/202410-Q
06/30/202408/09/202410-Q
03/31/202405/08/202410-Q
12/31/202302/28/202410-K
09/30/202311/03/202310-Q
 Collapse to Preview
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/05/202510-Q
06/30/202508/07/202510-Q
03/31/202505/07/202510-Q
12/31/202402/27/202510-K
09/30/202411/12/202410-Q
06/30/202408/09/202410-Q
03/31/202405/08/202410-Q
12/31/202302/28/202410-K
09/30/202311/03/202310-Q

Insider Activity

Updated 4/26/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Berkshire, Hathaway Inc See footnotesSell217202683.727,685643,404886,377,845Form
2Berkshire, Hathaway Inc See footnotesSell217202684.0418,1251,523,201890,375,572Form
3Berkshire, Hathaway Inc See footnotesSell217202683.7959,4114,978,101889,268,884Form
4Berkshire, Hathaway Inc See footnotesSell217202682.7830,6432,536,502883,414,535Form
5Berkshire, Hathaway Inc See footnotesSell217202683.2766,5685,543,424891,288,627Form
 Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Berkshire, Hathaway Inc See footnotesSell217202683.727,685643,404886,377,845Form
2Berkshire, Hathaway Inc See footnotesSell217202684.0418,1251,523,201890,375,572Form
3Berkshire, Hathaway Inc See footnotesSell217202683.7959,4114,978,101889,268,884Form
4Berkshire, Hathaway Inc See footnotesSell217202682.7830,6432,536,502883,414,535Form
5Berkshire, Hathaway Inc See footnotesSell217202683.2766,5685,543,424891,288,627Form
6Berkshire, Hathaway Inc See footnotesSell217202682.4018,6891,539,884887,361,286Form
7Berkshire, Hathaway Inc See footnotesSell217202682.2565,0715,352,018887,322,847Form
8Berkshire, Hathaway Inc See footnotesSell217202681.2244,1003,581,952881,544,770Form
9Berkshire, Hathaway Inc See footnotesSell217202683.4820,2261,688,501909,736,399Form

Industry Resources

Communication Services Resources
Variety
The Hollywood Reporter
Adweek
Movies & Entertainment Resources
Deadline
IndieWire
Screen Daily

External Quote Links


Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 6/27/2026