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 Investor Activity (13F) Trade Sentinel Investor Videos Industry Resource Links External Quote Links

    Liberty Live (LLYVA)

    Market Price (8/12/2026): $100.65 | Market Cap: $9.3 BilSector: Communication Services | Industry: Movies & Entertainment

    Liberty Live (LLYVA)

    Market Price (8/12/2026): $100.65
    Market Cap: $9.3 Bil
    Sector: Communication Services
    Industry: Movies & Entertainment

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

    0

    Low stock price volatility
    Vol 12M is 32%

    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 -3.4%, Dist 3Y High is -3.4%

    Meaningful short interest
    Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.11

    Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -58 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -9.8%

    Expensive valuation multiples
    P/SPrice/Sales ratio is 16x

    Not cash flow generative
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.2%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.2%

    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 -9.3%

    0 Low stock price volatility
    Vol 12M is 32%
    1 Megatrend and thematic drivers
    Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Travel & Leisure Tech.
    2 Trading close to highs
    Dist 52W High is -3.4%, Dist 3Y High is -3.4%
    3 Meaningful short interest
    Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.11
    4 Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -58 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -9.8%
    5 Expensive valuation multiples
    P/SPrice/Sales ratio is 16x
    6 Not cash flow generative
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.2%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.2%
    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 -9.3%

    LLYVA in ETFs

    Weight = LLYVA's share of each fund

    IWB0.00%
    VB0.02%
    ESML0.05%
    VBR0.04%
    THRO0.03%
    IWS0.02%
    IWR0.01%
    ONEQ0.01%
    +3 more covered ETFs

    Valuation & Metrics

    FYE: 12/31LLYVA [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$592.6 Mil—
    FY 2026 Sales$398.3 Mil—
    FY 2027 Sales$426.5 Mil—
    FY 2026 Sales Growth-32.8%—
    FY 2027 Sales Growth7.1%12.8%
    EARNINGS
    LTM Net Income (GAAP) [3]$-454.8 Mil—
    FY 2026 Net Income (Non-GAAP)$-303.1 Mil—
    FY 2027 Net Income (Non-GAAP)$-262.7 Mil—
    FY 2027 Net Income Growth—18.9%
    FY 2026 EPS (Non-GAAP)$-3.30—
    FY 2027 EPS (Non-GAAP)$-2.86—
    FY 2027 EPS Growth——
    VALUATION
    FY 2026 P/S23.21.8
    FY 2027 P/S21.7—
    FY 2026 P/E—8.5
    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 8/31/27 (~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 GROWTHGOOD
    Rev LTM ($ Bil)0.6
    Rev Chg Q6.1%9.4%
    Rev Chg LTM12.6%8.4%
    Rev Chg 3Y Avg12.6%5.9%
    PROFITABILITYVERY POOR
    Op Inc LTM ($ Bil)-0.1
    CFO LTM ($ Bil)-0.0
    Net Inc LTM ($ Bil)-0.5
    Op Mgn LTM-9.8%18.5%
    CFO/Rev LTM-1.2%21.8%
    Net Inc Mgn-76.7%13.1%
    VALUATIONVERY HIGH
    P/S15.63.3
    P/CFO-1,263.415.7
    P/FCF-1,263.420.1
    P/E-20.423.7
    STABILITYVERY GOOD
    Debt/Equity0.230.19
    Cash/Assets0.260.07

    AI Analysis | Feedback

    Metric

    Price Chart

    null
    Upcoming
    11/04/2026Earnings ReleaseRev: $75 Mil (E)
    EPS: $1.12 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 8/4/2026

    Liberty Live (LLYVA) stock has gained about 10% since 4/30/2026 because of the following key factors:

    1. Anticipation of Stronger Fiscal Q2 2026 Performance.

    Analysts are forecasting a significant improvement for Liberty Live's fiscal Q2 2026, which ended June 30, 2026. The company is expected to report an earnings per share (EPS) of $0.42 and revenue of $94.0 million, a considerable turnaround from its fiscal Q1 2026 (ended March 31, 2026) performance. In fiscal Q1 2026, Liberty Live reported an EPS of ($3.20) and revenue of $63.62 million, missing analyst consensus estimates.

    2. Positive Price Momentum Towards 52-Week Highs.

    Liberty Live shares have demonstrated strong upward momentum, trading near their 12-month high of $105.47. As of July 30, 2026, the stock's 50-day moving average was $97.39, surpassing its 200-day moving average of $92.90, indicating a bullish trend and contributing to investor confidence.

    Show more
    Updated on 8/4/2026

    Liberty Live (LLYVA) stock has gained about 10% since 4/30/2026 because of the following key factors:

    1. Anticipation of Stronger Fiscal Q2 2026 Performance.

    Analysts are forecasting a significant improvement for Liberty Live's fiscal Q2 2026, which ended June 30, 2026. The company is expected to report an earnings per share (EPS) of $0.42 and revenue of $94.0 million, a considerable turnaround from its fiscal Q1 2026 (ended March 31, 2026) performance. In fiscal Q1 2026, Liberty Live reported an EPS of ($3.20) and revenue of $63.62 million, missing analyst consensus estimates.

    2. Positive Price Momentum Towards 52-Week Highs.

    Liberty Live shares have demonstrated strong upward momentum, trading near their 12-month high of $105.47. As of July 30, 2026, the stock's 50-day moving average was $97.39, surpassing its 200-day moving average of $92.90, indicating a bullish trend and contributing to investor confidence.

    3. Analyst Price Target Indicating Modest Upside.

    Analysts have set an average target price of $106 for Liberty Live. This target suggests a modest upside of approximately 3.68% from the stock's closing price of $102.10 on July 31, 2026, contributing to a positive outlook for the stock.

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

    Stock Movement Drivers

    Fundamental Drivers

    The 10.2% change in LLYVA stock from 4/30/2026 to 8/11/2026 was primarily driven by a 5.7% change in the company's P/S Multiple.
    (LTM values as of)43020268112026Change
    Stock Price ($)91.21100.5310.2%
    Change Contribution By: 
    Total Revenues ($ Mil)5685934.4%
    P/S Multiple14.815.65.7%
    Shares Outstanding (Mil)9292-0.1%
    Cumulative Contribution10.2%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    4/30/2026 to 8/11/2026
    ReturnCorrelation
    LLYVA10.2% 
    Market (SPY)7.2%1.9%
    Sector (XLC)-4.5%22.9%

    Fundamental Drivers

    The 25.0% change in LLYVA stock from 1/31/2026 to 8/11/2026 was primarily driven by a 12.6% change in the company's Total Revenues ($ Mil).
    (LTM values as of)13120268112026Change
    Stock Price ($)80.44100.5325.0%
    Change Contribution By: 
    Total Revenues ($ Mil)52659312.6%
    P/S Multiple14.115.611.1%
    Shares Outstanding (Mil)9292-0.1%
    Cumulative Contribution25.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    1/31/2026 to 8/11/2026
    ReturnCorrelation
    LLYVA25.0% 
    Market (SPY)11.7%28.3%
    Sector (XLC)-7.0%35.1%

    Fundamental Drivers

    The 22.9% change in LLYVA stock from 7/31/2025 to 8/11/2026 was primarily driven by a 52.9% change in the company's Total Revenues ($ Mil).
    (LTM values as of)73120258112026Change
    Stock Price ($)81.80100.5322.9%
    Change Contribution By: 
    Total Revenues ($ Mil)38859352.9%
    P/S Multiple19.415.6-19.7%
    Shares Outstanding (Mil)92920.1%
    Cumulative Contribution22.9%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2025 to 8/11/2026
    ReturnCorrelation
    LLYVA22.9% 
    Market (SPY)22.9%24.6%
    Sector (XLC)4.6%30.0%

    Fundamental Drivers

    null
    null

    Market Drivers

    7/31/2023 to 8/11/2026
    ReturnCorrelation
    LLYVA  
    Market (SPY)74.3%45.1%
    Sector (XLC)66.9%43.3%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    LLYVA Return--2%82%22%23%181%
    Peers Return13%-44%48%34%14%9%58%
    S&P 500 Return27%-19%24%23%16%13%106%

    Monthly Win Rates [3]
    LLYVA Win Rate--40%83%58%50% 
    Peers Win Rate48%25%47%65%53%57% 
    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%-23% 
    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, FWONA, ROKU.
    [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 8/11/2026 (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, FWONA, ROKU

    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, FWONA, ROKU

    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

    TickerCompanyCategory1W RtnYTD Rtn
    RINGiShares MSCI Global Gold Miners ETFEquity16.8%6.1%
    USOUnited States Oil Fund LPCommodity10.2%84.5%
    SLViShares Silver TrustCommodity8.7%-9.1%
    GLDSPDR Gold TrustCommodity7.2%1.2%
    IAUiShares Gold TrustCommodity7.2%1.2%
    GLDMSPDR Gold MiniShares TrustCommodity7.1%1.3%
    HGERHarbor Commodity All-Weather Strategy...Commodity6.6%34.9%
    GDEWisdomTree Efficient Gold Plus Equity...Equity6.3%-4.4%
    URAGlobal X Uranium ETFEquity6.3%5.7%
    PDBCInvesco Optimum Yield Diversified Com...Commodity6.0%35.2%

    Top Losers

    TickerCompanyCategory1W RtnYTD Rtn
    EWZiShares MSCI Brazil ETFEquity-5.8%7.0%
    ILFiShares Latin America 40 ETFEquity-3.8%10.8%
    KWEBKraneShares CSI China Internet ETFEquity-2.8%-17.5%
    SCHHSchwab U.S. REIT ETFReal Estate-2.7%13.3%
    USRTiShares Core U.S. REIT ETFReal Estate-2.6%15.9%
    VNQVanguard Real Estate ETFReal Estate-2.6%11.1%
    IYRiShares U.S. Real Estate ETFReal Estate-2.4%9.6%
    XLREState Street Real Estate Select Secto...Real Estate-2.4%10.0%
    EWYiShares MSCI South Korea ETFEquity-2.3%72.0%
    REETiShares Global REIT ETFReal Estate-2.2%11.5%

    Top Gainers

    TickerCompanyCategory1M RtnYTD Rtn
    RINGiShares MSCI Global Gold Miners ETFEquity23.5%6.1%
    SLViShares Silver TrustCommodity12.3%-9.1%
    IGViShares Expanded Tech-Software Sector...Equity12.1%-1.7%
    URAGlobal X Uranium ETFEquity10.9%5.7%
    GDEWisdomTree Efficient Gold Plus Equity...Equity10.5%-4.4%
    ARKXARK Space & Defense Innovation ETFEquity9.9%-1.4%
    GLDSPDR Gold TrustCommodity9.2%1.2%
    IAUiShares Gold TrustCommodity9.2%1.2%
    GLDMSPDR Gold MiniShares TrustCommodity9.2%1.3%
    PALLETFS Physical Palladium SharesCommodity9.0%-14.8%

    Top Losers

    TickerCompanyCategory1M RtnYTD Rtn
    XLUState Street Utilities Select Sector ...Equity-4.6%2.9%
    EWZiShares MSCI Brazil ETFEquity-4.0%7.0%
    SOXXiShares Semiconductor ETFEquity-3.5%77.5%
    EDVVanguard World Funds Extended Duratio...Bond-3.3%-5.9%
    UNGUnited States Natural Gas Fund LPCommodity-2.9%-17.9%
    ICLNiShares Global Clean Energy ETFEquity-2.3%10.8%
    SMHVanEck Semiconductor ETFEquity-2.2%59.1%
    TLTiShares 20+ Year Treasury Bond ETFBond-2.1%-3.6%
    USRTiShares Core U.S. REIT ETFReal Estate-2.1%15.9%
    SCHHSchwab U.S. REIT ETFReal Estate-2.0%13.3%

    More From Trefis

    Research & Analysis

    Invest in Strategies

    Wealth Management

    Peer Comparisons

    Peers to compare with:

    Financials

    LLYVANFLXDISLYVFWONAROKUMedian
    NameLiberty .Netflix Walt Dis.Live Nat.Liberty .Roku  
    Mkt Price100.5374.79103.53183.3393.44150.91102.03
    Mkt Cap9.2313.3179.942.723.522.333.1
    Rev LTM59348,37198,86126,2734,3395,20915,741
    Op Inc LTM-5814,35515,027771529273650
    FCF LTM-711,1528,2931,3758027101,088
    FCF 3Y Avg-8,8249,2669981,5314731,531
    CFO LTM-711,97116,9892,6099317191,770
    CFO 3Y Avg-9,40016,4631,8651,7114831,865

    Growth & Margins

    LLYVANFLXDISLYVFWONAROKUMedian
    NameLiberty .Netflix Walt Dis.Live Nat.Liberty .Roku  
    Rev Chg LTM12.6%16.0%4.6%10.8%12.2%18.5%12.4%
    Rev Chg 3Y Avg-14.6%4.0%11.5%21.6%17.4%14.6%
    Rev Chg Q6.1%13.4%6.8%9.4%-30.4%21.9%8.1%
    QoQ Delta Rev Chg LTM1.4%3.2%1.6%2.6%-8.6%4.9%2.1%
    Op Inc Chg LTM10.4%16.7%7.5%-22.0%18.9%275.3%13.5%
    Op Inc Chg 3Y Avg-37.6%27.6%-2.5%51.1%122.7%37.6%
    Op Mgn LTM-9.8%29.7%15.2%2.9%12.2%5.2%8.7%
    Op Mgn 3Y Avg-27.7%14.2%3.8%11.0%-4.7%11.0%
    QoQ Delta Op Mgn LTM0.4%-0.0%0.9%0.0%-3.1%3.2%0.2%
    CFO/Rev LTM-1.2%24.7%17.2%9.9%21.5%13.8%15.5%
    CFO/Rev 3Y Avg-22.1%17.4%7.5%42.4%10.6%17.4%
    FCF/Rev LTM-1.2%23.1%8.4%5.2%18.5%13.6%11.0%
    FCF/Rev 3Y Avg-20.7%9.8%4.0%38.0%10.4%10.4%

    Valuation

    LLYVANFLXDISLYVFWONAROKUMedian
    NameLiberty .Netflix Walt Dis.Live Nat.Liberty .Roku  
    Mkt Cap9.2313.3179.942.723.522.333.1
    P/S15.66.51.81.65.44.34.8
    P/Op Inc-158.521.812.055.444.381.733.1
    P/EBIT-17.118.112.442.635.657.326.8
    P/E-20.323.020.9316.9110.162.942.9
    P/CFO-1,261.926.210.616.425.231.120.8
    Total Yield-4.9%4.4%5.3%0.3%0.9%1.6%1.2%
    Dividend Yield0.0%0.0%0.5%0.0%0.0%0.0%0.0%
    FCF Yield 3Y Avg-2.5%4.8%2.9%8.3%3.4%3.4%
    D/E0.20.00.30.30.20.00.2
    Net D/E0.20.00.20.10.1-0.10.1

    Returns

    LLYVANFLXDISLYVFWONAROKUMedian
    NameLiberty .Netflix Walt Dis.Live Nat.Liberty .Roku  
    1M Rtn0.9%1.9%8.3%2.0%5.9%7.3%4.0%
    3M Rtn6.4%-14.7%-1.7%10.7%12.5%18.2%8.5%
    6M Rtn16.7%-9.0%-5.1%22.8%18.8%66.0%17.8%
    12M Rtn16.9%-38.6%-6.7%18.7%10.1%84.1%13.5%
    3Y Rtn188.6%77.4%20.0%111.7%49.8%90.4%83.9%
    1M Excs Rtn-3.4%-1.5%5.0%-2.8%-0.9%3.2%-1.2%
    3M Excs Rtn3.6%-16.7%-4.6%8.2%5.6%13.6%4.6%
    6M Excs Rtn7.6%-19.2%-13.6%13.0%10.4%59.5%9.0%
    12M Excs Rtn-1.9%-59.2%-27.5%-1.2%-11.9%60.4%-6.9%
    3Y Excs Rtn108.8%0.7%-48.8%36.4%-31.5%2.2%1.4%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/6/20265/7/20262/26/202611/5/20258/7/20255/7/20252/27/202511/12/20248/9/20245/8/20242/28/202411/3/2023
    Key Financials Quarterly            
    Total Revenue1476438201394734000000
    Ebitda-329-361248-59-209-23-20728177-86-148-22
    Operating Income-1-17-32-9-3-17-42-3-2-2-6-5
    Net Income-269-294161-53-180-29-18915134-73-123-19
    EPS-2.92-3.201.75-0.58-1.96-0.32-2.060.161.46-0.80-1.34-0.21
    Key Financials TTM            
    Total Revenue TTM59358456852652638834000---
    Ebitda TTM-500-380-42-497-410-24-88-29-79---
    Operating Income TTM-58-60-61-71-65-64-49-13-15---
    Net Income TTM-455-366-102-452-384-69-113-47-81---
    Growth Rates Quarterly            
    Total Revenue Growth6.1%35.2%12.2%---------
    EBITDA Growth-57.5%-1491.2%220.3%-310.7%-218.0%73.6%-39.6%227.3%----
    Operating Income Growth64.4%3.4%24.8%-200.0%-32.6%-764.1%-603.5%40.0%----
    Net Income Growth-49.0%-897.9%185.3%-453.3%-234.6%59.6%-53.5%178.9%----
    Margins Quarterly            
    EBITDA Margin-223.6%-566.8%65.0%--150.6%-48.2%-60.7%-----
    Operating Income Margin-0.6%-26.2%-8.3%--1.9%-36.7%-12.4%-----
    Net Income Margin-182.7%-462.3%42.2%--130.1%-62.6%-55.4%-----
    Cash & Debt            
    Total Cash5235243829730831467388406298305315
    Total Debt2,1261,8191,6671,8731,7691,5821,5561,4371,3031,4181,3171,226
    Net Debt / (Cash)1,6031,2941,6281,5761,4611,2681,4891,0498971,1201,012911
    Cash Flows Quarterly            
    FCF from Operations4-9-1-1-10-16-14-42-9-10-
    Cash Flows TTM            
    FCF from Operations TTM-7-22-29-42-45-33-25-21----
    Returns to Shareholders Quarterly            
    Dividends000000000000
    Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-0.1%-3.1%-4.7%-1.8%-0.6%-4.3%-7.6%-0.9%-0.7%-0.6%-1.9%-1.7%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-2.3%-2.9%-2.7%-3.6%-3.6%-4.1%-2.2%-1.0%-1.3%---

    Segment Financials

    Revenue by Segment
    $ Mil20252024
    Quint382340
    Corporate and Other00
    Total382340


    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 Other1,4501,163 
    Quint439422 
    Single Segment  1,162
    Total1,8891,5851,162


    Price Behavior

    Price Behavior
    Market Price$100.53 
    Market Cap ($ Bil)9.2 
    First Trading Date01/10/2013 
    Distance from 52W High-3.4% 
       50 Days200 Days
    DMA Price$97.46$90.04
    DMA Trendupup
    Distance from DMA3.2%11.7%
     3M1YR
    Volatility32.1%31.5%
    Downside Capture-39.2039.70
    Upside Capture-4.6148.39
    Correlation (SPY)-1.4%22.8%
    LLYVA Betas & Captures as of 7/31/2026

     1M2M3M6M1Y3Y
    Beta-0.79-0.39-0.080.660.59-0.07
    Up Beta-0.450.861.011.101.041.01
    Down Beta-0.30-0.60-0.560.390.440.09
    Up Capture-146%-68%-10%65%40%118%
    Bmk +ve Days11223567138427
    Stock +ve Days11223267135409
    Down Capture-58%-70%-39%52%55%96%
    Bmk -ve Days11212859114326
    Stock -ve Days11213159116336

    [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
    LLYVA19.1%31.5%0.58-
    Sector ETF (XLC)4.4%14.9%0.0828.5%
    Equity (SPY)22.1%12.8%1.2822.7%
    Gold (GLD)28.2%28.4%0.869.4%
    Commodities (DBC)37.4%20.1%1.47-14.4%
    Real Estate (VNQ)12.5%13.8%0.6130.8%
    Bitcoin (BTCUSD)-45.3%42.9%-1.2811.7%

    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
    LLYVA23.2%32.5%1.11-
    Sector ETF (XLC)7.4%20.9%0.2743.2%
    Equity (SPY)13.3%17.2%0.6045.1%
    Gold (GLD)18.8%18.6%0.828.8%
    Commodities (DBC)9.3%19.6%0.363.9%
    Real Estate (VNQ)1.9%18.9%-0.0038.1%
    Bitcoin (BTCUSD)10.9%52.8%0.3915.5%

    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
    LLYVA11.0%32.5%1.11-
    Sector ETF (XLC)9.2%22.2%0.4743.2%
    Equity (SPY)15.3%17.9%0.7345.1%
    Gold (GLD)12.0%16.2%0.618.8%
    Commodities (DBC)7.9%18.0%0.353.9%
    Real Estate (VNQ)4.5%20.7%0.1838.1%
    Bitcoin (BTCUSD)59.4%66.1%0.9915.5%

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

    Short Interest

    Short Interest: As Of Date7312026
    Short Interest: Shares Quantity1.6 Mil
    Short Interest: % Change Since 7152026-2.6%
    Average Daily Volume0.1 Mil
    Days-to-Cover Short Interest12.1 days
    Basic Shares Quantity92.0 Mil
    Short % of Basic Shares1.7%

    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
    06/30/202608/06/202610-Q
    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
    06/30/202608/06/202610-Q
    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

    Investor Activity (13F)

    Updated Aug 12, 2026
    13F holdings as of Mar 31, 2026 (Q1 2026)

    Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Linonia Partnership LP$811.8 Mil15.1%14ADD +5.4%13F
    ValueAct Holdings, L.P.$498.0 Mil8.7%18Hold13F
    Corvex Management LP$95.2 Mil3.8%25Hold13F
    Makena Capital Management LLC$21.6 Mil2.5%27TRIM -14.7%13F
    Hound Partners, LLC$10.3 Mil1.3%34New13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Hound Partners, LLC$10.3 Mil1.3%34New13F
    Linonia Partnership LP$811.8 Mil15.1%14ADD +5.4%13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Makena Capital Management LLC$21.6 Mil2.5%27TRIM -14.7%13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Linonia Partnership LP$811.8 Mil15.1%14ADD +5.4%13F
    ValueAct Holdings, L.P.$498.0 Mil8.7%18Hold13F
    Corvex Management LP$95.2 Mil3.8%25Hold13F
    Makena Capital Management LLC$21.6 Mil2.5%27TRIM -14.7%13F
    Hound Partners, LLC$10.3 Mil1.3%34New13F

    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: 8/11/2026