Lionsgate Studios (LION)


Market Price (10/21/2026): $12.19 | Market Cap: $3.6 BilSector: Communication Services | Industry: Movies & Entertainment

Lionsgate Studios (LION)


Market Price (10/21/2026): $12.19
Market Cap: $3.6 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 48%

Megatrend and thematic drivers
Megatrends include Digital Content & Streaming. Themes include Video Streaming, and Gaming Content & Platforms.

Weak multi-year price returns
3Y Excs Rtn is -75%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 113%

Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x

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 -7.8%

Key risks
LION key risks include [1] significant financial challenges, Show more.

0 Low stock price volatility
Vol 12M is 48%
1 Megatrend and thematic drivers
Megatrends include Digital Content & Streaming. Themes include Video Streaming, and Gaming Content & Platforms.
2 Weak multi-year price returns
3Y Excs Rtn is -75%
3 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 113%
4 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x
5 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 -7.8%
6 Key risks
LION key risks include [1] significant financial challenges, Show more.

LION in ETFs

Weight = LION's share of each fund

VTI0.00%
ITOT0.00%
IWM0.08%
VB0.03%
IWO0.15%
FNDC0.13%
NUSC0.08%
VTWO0.08%
+8 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/20/2026

Lionsgate Studios (LION) stock has lost about 20% since 6/30/2026 because of the following key factors:

1. Mixed Fiscal Q1 2027 Financial Performance: Lionsgate reported fiscal Q1 2027 results (ended June 30, 2026) on August 6, 2026, which, while showing a 48% year-over-year revenue increase to $776.6 million and beating adjusted diluted EPS estimates at $0.06 per share against a consensus of -$0.08, included a net loss from continuing operations of $28.8 million, or $0.10 diluted net loss per share. This mixed bag of results, despite some improvements, likely created uncertainty among investors regarding the company's profitability.

2. Significant Decline in Television Production Segment: A notable weakness in the fiscal Q1 2027 results was the television production segment, which experienced a 35% year-over-year revenue decline to $189.3 million and a 61% drop in segment profit to $10.2 million. This substantial contraction in a key operational area, attributed to the timing of episodic deliveries, likely fueled investor concerns about the segment's near-term outlook, despite the company's projection of doubling scripted deliveries in fiscal 2027.

Show more
Updated on 10/20/2026

Lionsgate Studios (LION) stock has lost about 20% since 6/30/2026 because of the following key factors:

1. Mixed Fiscal Q1 2027 Financial Performance: Lionsgate reported fiscal Q1 2027 results (ended June 30, 2026) on August 6, 2026, which, while showing a 48% year-over-year revenue increase to $776.6 million and beating adjusted diluted EPS estimates at $0.06 per share against a consensus of -$0.08, included a net loss from continuing operations of $28.8 million, or $0.10 diluted net loss per share. This mixed bag of results, despite some improvements, likely created uncertainty among investors regarding the company's profitability.

2. Significant Decline in Television Production Segment: A notable weakness in the fiscal Q1 2027 results was the television production segment, which experienced a 35% year-over-year revenue decline to $189.3 million and a 61% drop in segment profit to $10.2 million. This substantial contraction in a key operational area, attributed to the timing of episodic deliveries, likely fueled investor concerns about the segment's near-term outlook, despite the company's projection of doubling scripted deliveries in fiscal 2027.

3. Anticipation of Continued Losses for Fiscal Q2 2027: Leading up to the expected fiscal Q2 2027 earnings report on November 5, 2026, analysts projected an earnings loss of $0.02 per share, albeit narrower than the $0.20 loss from the prior year. The ongoing expectation of a net loss, combined with mixed signals from the previous quarter, likely contributed to a cautious investment sentiment and downward pressure on the stock during the period since June 30, 2026.

4. Lack of Sustained Positive Catalysts Amidst Industry Dynamics: While the motion picture segment showed strong performance in fiscal Q1 2027, driven by the success of "Michael", the overall market environment and ongoing content spending in the entertainment industry likely require consistent, strong positive catalysts to drive significant stock appreciation. The absence of such sustained company-specific drivers between the Q1 earnings in August and the recent takeover discussions on October 20, 2026, allowed the stock to trend downwards as investors weighed mixed operational performance against broader industry factors.

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Stock Movement Drivers

Fundamental Drivers

The -20.6% change in LION stock from 6/30/2026 to 10/20/2026 was primarily driven by a -31.1% change in the company's P/S Multiple.
(LTM values as of)630202610202026Change
Stock Price ($)15.3112.15-20.6%
Change Contribution By: 
Total Revenues ($ Mil)2,4502,88217.6%
P/S Multiple1.81.2-31.1%
Shares Outstanding (Mil)286292-2.0%
Cumulative Contribution-20.6%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/20/2026
ReturnCorrelation
LION-20.6% 
Market (SPY)3.0%28.2%
Sector (XLC)2.9%26.7%

Fundamental Drivers

The 26.7% change in LION stock from 3/31/2026 to 10/20/2026 was primarily driven by a 14.5% change in the company's P/S Multiple.
(LTM values as of)331202610202026Change
Stock Price ($)9.5912.1526.7%
Change Contribution By: 
Total Revenues ($ Mil)2,5912,88211.3%
P/S Multiple1.11.214.5%
Shares Outstanding (Mil)290292-0.5%
Cumulative Contribution26.7%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/20/2026
ReturnCorrelation
LION26.7% 
Market (SPY)18.6%23.9%
Sector (XLC)-0.3%21.6%

Fundamental Drivers

The 76.1% change in LION stock from 9/30/2025 to 10/20/2026 was primarily driven by a 71.6% change in the company's P/S Multiple.
(LTM values as of)930202510202026Change
Stock Price ($)6.9012.1576.1%
Change Contribution By: 
Total Revenues ($ Mil)2,6242,8829.9%
P/S Multiple0.71.271.6%
Shares Outstanding (Mil)272292-6.6%
Cumulative Contribution76.1%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/20/2026
ReturnCorrelation
LION76.1% 
Market (SPY)16.4%21.3%
Sector (XLC)-6.1%24.6%

Fundamental Drivers

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Market Drivers

9/30/2023 to 10/20/2026
ReturnCorrelation
LION16.2% 
Market (SPY)86.1%21.2%
Sector (XLC)73.4%19.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
LION Return-2%7%-28%20%16%9%
Peers Return-6%-36%7%-2%14%-27%-47%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
LION Win Rate-70%100%58%50%50% 
Peers Win Rate42%47%63%48%45%30% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
LION Max Drawdown---1%-51%-38%-35% 
Peers Max Drawdown-35%-47%-40%-41%-43%-41% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: WBD, PARA, NFLX, 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 10/20/2026 (YTD)

How Low Can It Go

EventLIONS&P 500
2025 US Tariff Shock
  % Loss-27.5%-18.8%
  % Gain to Breakeven37.9%23.1%
  Time to Breakeven253 days79 days
2024 Yen Carry Trade Unwind
  % Loss-15.6%-7.8%
  % Gain to Breakeven18.5%8.5%
  Time to Breakeven176 days18 days

Compare to WBD, PARA, NFLX, DIS, CMCSA

In The Past

Lionsgate Studios's stock fell -27.5% during the 2025 US Tariff Shock. Such a loss loss requires a 37.9% 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.

EventLIONS&P 500
2025 US Tariff Shock
  % Loss-27.5%-18.8%
  % Gain to Breakeven37.9%23.1%
  Time to Breakeven253 days79 days

Compare to WBD, PARA, NFLX, DIS, CMCSA

In The Past

Lionsgate Studios's stock fell -27.5% during the 2025 US Tariff Shock. Such a loss loss requires a 37.9% 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 Lionsgate Studios (LION)

Lionsgate Entertainment Corp. (LION) is a global entertainment company focused on the creation, production, and distribution of diverse content. The company operates as a comprehensive provider of entertainment services, touching various facets of the media industry.

Its primary products and services include the production and distribution of motion pictures and television programming. Beyond these core areas, Lionsgate is also active in home entertainment, international distribution and sales, games, and music. The company additionally delves into location-based entertainment experiences.

Lionsgate reaches its customers and markets through multiple channels, notably its Starz network, various Over-The-Top (OTT) platforms, and traditional US multichannel video programming distributors. With a global operational footprint, Lionsgate serves a worldwide audience, delivering its content across different regions and digital ecosystems.

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1. Paramount Global, but with Starz instead of Showtime.

2. A smaller, independent version of Warner Bros. Discovery, focused on its studio and Starz network.

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  • Motion Picture Production & Distribution: Creates and distributes feature films globally.
  • Television Production & Distribution: Develops, produces, and distributes television series and programming.
  • Home Entertainment: Provides content for home viewing through digital sales, rentals, and physical media.
  • Starz Network & Streaming: Operates the premium cable and streaming platform, Starz, offering original and licensed content.
  • Games: Develops, publishes, or licenses interactive entertainment based on its intellectual property.
  • Music: Produces and distributes musical content, primarily soundtracks and related compositions.
  • Location-Based Entertainment: Creates themed attractions and experiences utilizing its film and TV franchises.

AI Analysis | Feedback

Lionsgate Studios (LION) primarily sells its film and television content, as well as its STARZ network, to other companies for distribution and licensing. Its major customers include:

  • Netflix, Inc. (symbol: NFLX) - A leading global subscription streaming service that licenses a wide array of film and television content.
  • Amazon.com, Inc. (symbol: AMZN) - Operates Amazon Prime Video, a major streaming service and a significant platform for digital media sales and rentals.
  • Comcast Corporation (symbol: CMCSA) - A leading U.S. multichannel video programming distributor (MVPD) that distributes the STARZ network and licenses other film and television content.

AI Analysis | Feedback

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Jon Feltheimer, Chief Executive Officer

Jon Feltheimer has served as CEO of Lionsgate since March 2000, and his leadership has been instrumental in transforming the company into a diversified global content leader. Prior to joining Lionsgate, he held significant leadership roles at Sony Pictures Entertainment (SPE), where he was the head of the Columbia TriStar Television Group and executive vice president, overseeing the creation of TriStar Television and the development of popular shows like Mad About You and The King of Queens. He also held a leadership position at New World Entertainment. Under his guidance, Lionsgate has expanded its film and television library and made strategic acquisitions, including eOne and an increased investment in 3 Arts Entertainment.

James W. Barge, Chief Financial Officer

James W. “Jimmy” Barge has been the Chief Financial Officer of Lionsgate since October 2013. He is responsible for all financial operations, planning, strategy, investor relations, and information technology. Barge played a key role in significant corporate transactions, including Lionsgate's acquisition of eOne and the separation of its studio and STARZ businesses. Before his tenure at Lionsgate, he served as Executive Vice President and Chief Financial Officer of Viacom Inc. from 2010 to 2012. He also spent 13 years at Time Warner Inc., holding positions such as Senior Vice President, Controller, and Chief Accounting Officer. Earlier in his career, he spent 13 years at Ernst & Young, rising to industry leader, and completed a two-year fellowship in the SEC's Office of the Chief Accountant. He currently serves as the lead Independent Director and Chair of the Audit Committee for Scholastic Corporation.

Michael Burns, Vice Chairman

Michael Burns has served as Vice Chairman of Lionsgate since March 2000, having joined the board in 1999. Working alongside CEO Jon Feltheimer, he has been instrumental in transforming Lionsgate from a smaller independent film company into a major global content leader. Burns has played a key role in several major acquisitions, including Summit Entertainment, Starz, and eOne. Prior to Lionsgate, he had an 18-year career in investment banking. This included nine years as a managing director and head of Prudential Securities' Los Angeles investment banking office, where he focused on equity financing within the media and entertainment sectors. He also spent nine years at Shearson/American Express, co-heading its Media Group.

Brian Goldsmith, Chief Operating Officer

Brian Goldsmith is the Chief Operating Officer of Lionsgate, overseeing corporate operations, corporate development, strategic partnerships, and digital initiatives. He has been crucial in numerous acquisitions and divestitures, such as the acquisition of Summit Entertainment and Good Universe, and the sale of Lionsgate's stake in EPIX. Goldsmith also played a significant role in the May 2025 separation of Lionsgate's studio and STARZ businesses. Before becoming COO in October 2012, he served as Executive Vice President of Corporate Development and Strategy. Prior to Lionsgate, Goldsmith was Chief Operating Officer and Chief Financial Officer of Mandate Pictures and Senator International, joining Lionsgate after its acquisition of Mandate in 2007. He began his career as a financial analyst at Merrill Lynch and worked as a financial analyst and strategic planner at Sony Pictures.

Kevin Beggs, Chairman, Lionsgate Television Group & Chief Content Integration Officer

Kevin Beggs is the Chairman of the Lionsgate Television Group and Chief Content Integration Officer, responsible for the development and production of all scripted and non-scripted programming. Since joining Lionsgate in 1998, Beggs has guided the Television Group's expansion into one of the largest independent television businesses globally. Under his leadership, Lionsgate has produced a diverse roster of successful television series, including award-winning shows like Orange is the New Black, Mad Men, Weeds, and Nurse Jackie. He has also held leadership roles in various industry organizations, including serving as Chairman for four years of the National Association of Television Program Executives (NATPE).

AI Analysis | Feedback

The key risks to Lionsgate Studios (LION) business are primarily financial challenges, intense competition in the entertainment industry, and the inherent inconsistency of content performance.

  1. Financial Performance, Increased Expenses, and High Leverage: Lionsgate Studios faces substantial financial risks, characterized by operational challenges, increased expenses, and significant debt. The company has reported operating and net losses, with a concerning trend of rising direct operating, distribution, and marketing costs. Its financial statements reveal negative profit margins, a negative book value per share, and substantial negative free cash flow, indicating potential financial instability and a heightened risk profile. High levels of debt related to content financing contribute to significant interest expenses, which could hinder future growth and investment opportunities.

  2. Intense Competition and Changing Consumer Preferences: The entertainment industry is highly competitive, with numerous studios and streaming services vying for market share. Lionsgate must continuously innovate to attract and retain audiences amidst changing consumer preferences, as audiences increasingly gravitate towards digital and on-demand content. This shift threatens traditional revenue models and necessitates significant investment in original content and competitive pricing, especially for services like Starz, which has been part of the Lionsgate ecosystem (though now separated). Lionsgate also operates with fewer resources than larger, more diversified competitors, which can limit its marketing reach, slate investment, and ability to compete for ideas, talent, and acquisitions.

  3. Inconsistent Content Performance: The success of Lionsgate Studios is heavily reliant on the performance of its film and television content. While the company benefits from strong franchises like "John Wick" and "The Hunger Games," there is an inherent risk of failure with major releases. Inconsistent content performance can lead to disappointing financial results, impacting revenue and overall profitability.

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The intense competition and ongoing consolidation in the global streaming and media landscape. Larger, vertically integrated players with significant financial resources (e.g., Netflix, Disney, Warner Bros. Discovery, Amazon, Apple) are heavily investing in content production, distribution, and direct-to-consumer platforms. This creates substantial pressure on Lionsgate, a mid-sized independent studio with its Starz network, to compete for audience attention, acquire desirable intellectual property, retain talent, and secure sustainable market share in an increasingly crowded and expensive content environment. This pressure directly impacts content acquisition costs, subscriber growth for Starz, and the overall profitability and strategic positioning of the company.

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Lionsgate Studios (symbol: LION) operates within several significant addressable markets for its main products and services.

Motion Picture Production and Distribution

  • Global: The global movie production and distribution market is estimated at approximately US$82.53 billion in 2024 and is projected to increase to US$182.92 billion by 2034, with a compound annual growth rate (CAGR) of 8.2%.
  • U.S.: The U.S. movie market is expected to be approximately US$23.44 billion in 2024 and is projected to reach US$34.64 billion by 2033, growing at a CAGR of 4.43% from 2025 to 2033. The Movie & Video Production market in the U.S. was valued at $40.7 billion in 2025 and is projected to be $42.0 billion in 2026.

Television Programming and Series (including Streaming/OTT)

  • Global: The combined global online video and traditional TV markets are projected to reach US$1 trillion in annual revenue by 2030. The global television services market size was valued at USD 373.59 billion in 2024 and is predicted to increase from USD 390.47 billion in 2025 to approximately USD 579.50 billion by 2034. The global video streaming market size was estimated at USD 129.26 billion in 2024 and is projected to reach USD 416.8 billion by 2030.
  • U.S.: The U.S. Broadcasting and Cable TV Market size was valued at over USD 127.53 billion in 2025 and is poised to surpass USD 155.46 billion by 2035, growing at a 2% CAGR from 2026 to 2035. The U.S. video streaming market size was estimated at USD 18.79 billion in 2023 and is expected to grow at a CAGR of 19.8% between 2024 and 2030, reaching USD 66.41 billion by 2030. The U.S. Television Services market size was USD 117.68 billion in 2024 and is projected to be worth around USD 186.90 billion by 2034.

Games

  • Global: The global video game market generated a revenue of approximately USD 298.98 billion in 2024 and is expected to reach approximately USD 600.74 billion by 2030.
  • U.S.: The U.S. video game market is expected to grow significantly, reaching USD 67.61 billion by 2032.

AI Analysis | Feedback

Lionsgate Studios (LION) is expected to drive future revenue growth over the next two to three years through several key strategies:

  1. Strong Film and Television Content Pipeline and Franchise Expansion: The company plans to release 2-4 tentpole films annually and is focused on the continued expansion and reinvigoration of its successful franchises, such as "The Hunger Games" and "John Wick." Additionally, the television group has seen renewals for a significant number of its scripted series, indicating a robust television content pipeline.
  2. Continued Monetization of its Extensive Film and Television Library: Lionsgate Studios consistently reports record or growing trailing 12-month library revenue, reaching $1.05 billion for the period ending December 31, 2025. This extensive library serves as a significant source of recurring revenue through licensing and distribution across various platforms.
  3. Diversification of Intellectual Property (IP) Monetization through New Ventures: Lionsgate is actively leveraging its content beyond traditional theatrical and television distribution. This includes exploring non-theatrical ventures such as live experiences (e.g., "The Hunger Games" live experiences), video game projects ("John Wick" video game projects), and consumer products and licensing deals.
  4. Growth in Television Production and Content Deliveries, enhanced by Strategic Acquisitions: The company anticipates increased content deliveries in its television segment, particularly following the resolution of guild strikes. The acquisition of eOne has also strengthened its scripted and unscripted television business, adding thousands of titles to its library and enhancing production capabilities.
  5. International Market Expansion and Global Licensing Opportunities: Lionsgate Studios is committed to expanding its presence in international markets and capitalizing on significant international licensing opportunities for its upcoming films. Strategic content distribution deals in European territories and new partnerships with leading streaming services are expected to broaden its global audience reach and fuel revenue growth in untapped markets.

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Share Issuance

  • Lionsgate Studios Corp. issued 253.4 million common shares as of March 31, 2024, which increased to 288.7 million by March 31, 2025, primarily due to its formation through a series of transactions and amalgamation.
  • The number of shares outstanding increased by 16.68% in one year, reaching 290.19 million as of March 2026.

Inbound Investments

  • Liberty Strategic Capital, a private equity fund led by Steven Mnuchin, acquired a 5.5% stake in Lions Gate Entertainment (now Lionsgate Studios) for approximately $30.8 million in September 2023.
  • Liberty Strategic Capital further increased its stake to 12.6% by May 30, 2025.
  • The formation of Lionsgate Studios Corp. on May 14, 2024, following the spin-off of film and television businesses and a merger with Screaming Eagle Corporation, valued the studio at $4.6 billion.

Outbound Investments

  • Lionsgate completed the acquisition of Entertainment One (eOne) from Hasbro, Inc. on December 27, 2023.
  • In fiscal 2024, Lionsgate acquired an additional interest in 3 Arts Entertainment for $49.2 million.
  • The studio also acquired the Spyglass library and made a sports-management investment through its 3 Arts division.

Capital Expenditures

  • Lionsgate Studios reported capital expenditures of -$65.90 million in the last 12 months ending around March 2026.
  • Capital expenditures were -$29.20 million in the last 12 months ending around February 2026.
  • Capital allocation in Q1 and Q2 fiscal 2026 (ended June 30, 2025, and September 30, 2025) was focused on prints and advertising (P&A) and content spend, including preparing tentpole films like "Michael," "The Hunger Games," and two "Resurrection" films for fiscal 2027 and beyond.

Peer Outperformance in Movies & Entertainment

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Share of Movies & Entertainment constituents that LION has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
93%
of 28 industry peers · 102.5% return
3Y
35%
of 26 industry peers · 16.0% return
5Y
—
insufficient peer history
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Median price return by industry across the Communication Services sector, ranked by 5Y. Movies & Entertainment is LION's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Wireless Telecommunication Services 3 -19.7%21.1%36.1% ECHO 243% · TMUS 36%
Publishing 5 25.6%13.3%23.3% NYT 35% · NWSA 35%
Integrated Telecommunication Services 21 -11.8%-1.3%-24.2% GSAT 237% · AD 127% · TDS 100%
Movies & Entertainment ← 24 11.2%44.5%-29.8% IMAX 151% · MSGS 133% · CNK 103%
Advertising 18 -28.9%-12.3%-65.5% APP 192% · OMC 30% · STGW 7%
Alternative Carriers 4 -19.5%17.0%-68.0% IRDM 13% · LUMN -61%
Broadcasting 14 -17.5%-24.7%-70.9% FOXA 65% · NXST 30% · SIRI -52%
Interactive Media & Services 33 -37.3%-23.6%-71.0% GOOGL 142% · META 106% · CARG -6%
Interactive Home Entertainment 8 -39.2%-11.5%-74.6% TTWO 19% · RBLX -33% · PINS -63%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

LIONWBDPARANFLXDISCMCSAMedian
NameLionsgat.Warner B.Banzai I.Netflix Walt Dis.Comcast  
Mkt Price12.19-0.5564.69111.4422.3222.32
Mkt Cap3.6--271.0193.779.5136.6
Rev LTM2,882-1148,37198,861124,90548,371
Op Inc LTM182--1914,35515,02718,31414,355
FCF LTM97--1611,1528,29317,8178,293
FCF 3Y Avg78--118,8249,26615,3408,824
CFO LTM110--1611,97116,98932,51711,971
CFO 3Y Avg91--119,40016,46330,1259,400

Growth & Margins

LIONWBDPARANFLXDISCMCSAMedian
NameLionsgat.Warner B.Banzai I.Netflix Walt Dis.Comcast  
Rev Chg LTM9.9%-19.6%16.0%4.6%0.6%9.9%
Rev Chg 3Y Avg---14.6%4.0%1.2%4.0%
Rev Chg Q47.7%--27.3%13.4%6.8%-1.2%6.8%
QoQ Delta Rev Chg LTM9.5%--7.4%3.2%1.6%-0.3%1.6%
Op Inc Chg LTM207.3%--14.9%16.7%7.5%-18.6%7.5%
Op Inc Chg 3Y Avg---37.6%27.6%-7.0%27.6%
Op Mgn LTM6.3%--177.7%29.7%15.2%14.7%14.7%
Op Mgn 3Y Avg4.0%--213.5%27.7%14.2%17.4%14.2%
QoQ Delta Op Mgn LTM0.7%--9.3%-0.0%0.9%-0.6%-0.0%
CFO/Rev LTM3.8%--151.1%24.7%17.2%26.0%17.2%
CFO/Rev 3Y Avg3.7%--115.9%22.1%17.4%24.4%17.4%
FCF/Rev LTM3.4%--151.1%23.1%8.4%14.3%8.4%
FCF/Rev 3Y Avg3.2%--115.9%20.7%9.8%12.4%9.8%

Valuation

LIONWBDPARANFLXDISCMCSAMedian
NameLionsgat.Warner B.Banzai I.Netflix Walt Dis.Comcast  
Mkt Cap3.6--271.0193.779.5136.6
P/S1.2--5.62.00.61.6
P/Op Inc19.5--18.912.94.315.9
P/EBIT29.8--15.613.34.314.5
P/E-30.0--19.922.57.113.5
P/CFO32.3--22.611.42.417.0
Total Yield-3.3%--4.7%4.9%20.2%4.8%
Dividend Yield0.0%--0.0%0.5%6.1%0.2%
FCF Yield 3Y Avg0.5%--2.5%4.9%14.8%3.7%
D/E1.1--0.10.21.10.7
Net D/E1.0--0.00.21.00.6

Returns

LIONWBDPARANFLXDISCMCSAMedian
NameLionsgat.Warner B.Banzai I.Netflix Walt Dis.Comcast  
1M Rtn13.5%--40.6%-9.9%8.5%-0.3%-0.3%
3M Rtn-9.8%--72.7%-5.8%15.9%-4.8%-5.8%
6M Rtn5.8%--95.1%-30.1%7.7%-20.9%-20.9%
12M Rtn103.2%--99.1%-47.8%1.0%-15.3%-15.3%
3Y Rtn16.4%--100.0%61.3%39.1%-37.5%16.4%
1M Excs Rtn7.5%--38.8%-10.5%8.3%0.2%0.2%
3M Excs Rtn-14.1%--76.4%-7.6%14.1%-5.8%-7.6%
6M Excs Rtn-2.6%--103.8%-38.1%-0.7%-29.3%-29.3%
12M Excs Rtn91.3%--114.4%-60.1%-12.8%-30.1%-30.1%
3Y Excs Rtn-60.8%--179.4%9.4%-40.6%-115.7%-60.8%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20262025202420232022
Motion Picture1,6171,5991,6661,3241,185
Television Production1,0451,6061,3301,7601,531
Intersegment eliminations-30-620-546  
Total2,6322,5852,4503,0842,716


Operating Income by Segment
$ Mil20262025202420232022
Motion Picture279304312276263
Television Production12413614713384
Intersegment eliminations13-143-119  
COVID-19 related (expense) benefit included in direct operating expense-12195
Purchase accounting and related adjustments-12-13-17-62-65
Adjusted depreciation and amortization-14-14-11-12-12
Unallocated rent cost included in direct operating expense-27-190  
Restructuring and other-51-88-130-27-6
Adjusted share-based compensation expense-72-52-62-69-70
Corporate general and administrative expenses-142-132-136-101-80
Content charges   -80
Charges related to Russia’s invasion of Ukraine    -6
Total97-18-14140112


Assets by Segment
$ Mil2026202520232022
Television Production2,2882,2791,9491,979
Motion Picture2,2471,8701,7591,623
Other unallocated assets791773704724
Assets of discontinued operations01,899  
Total5,3276,8224,4134,326


Price Behavior

Price Behavior
Market Price$12.15 
Market Cap ($ Bil)3.5 
First Trading Date05/14/2024 
Distance from 52W High-25.9% 
   50 Days200 Days
DMA Price$11.31$11.49
DMA Trenddownup
Distance from DMA7.5%5.7%
 3M1YR
Volatility42.4%49.9%
Downside Capture182.9948.97
Upside Capture16.62111.38
Correlation (S&P 500)25.5%20.2%
LION Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta1.520.890.920.970.780.25
Up Beta4.511.230.980.400.640.28
Down Beta-1.14-0.930.030.130.720.12
Up Capture146%36%31%146%111%-1%
Bmk +ve Days6162766132424
Stock +ve Days11172155115160
Down Capture150%206%207%143%71%65%
Bmk -ve Days16263760120328
Stock -ve Days11254268132191

[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 LION
LION106.2%49.9%1.60-
Sector ETF (XLC)-3.3%16.1%-0.4023.4%
Equity (SPY)16.8%12.7%0.9320.3%
Gold (GLD)-2.9%29.3%-0.1013.2%
Commodities (DBC)52.5%20.7%1.93-11.3%
Real Estate (VNQ)5.1%13.8%0.1126.3%
Bitcoin (BTCUSD)-23.7%43.6%-0.509.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with LION
LION4.6%39.3%0.21-
Sector ETF (XLC)8.0%21.0%0.2913.3%
Equity (SPY)13.6%17.1%0.6115.5%
Gold (GLD)18.1%18.9%0.776.6%
Commodities (DBC)9.7%19.5%0.38-1.7%
Real Estate (VNQ)1.4%18.9%-0.0314.3%
Bitcoin (BTCUSD)7.7%51.7%0.336.8%

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 LION
LION2.3%39.3%0.21-
Sector ETF (XLC)9.1%22.1%0.4513.3%
Equity (SPY)15.3%17.9%0.7215.5%
Gold (GLD)12.1%16.4%0.606.6%
Commodities (DBC)8.2%18.1%0.37-1.7%
Real Estate (VNQ)5.2%20.7%0.2114.3%
Bitcoin (BTCUSD)62.9%66.2%1.036.8%

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

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity13.7 Mil
Short Interest: % Change Since 915202610.8%
Average Daily Volume3.4 Mil
Days-to-Cover Short Interest4.1 days
Basic Shares Quantity291.6 Mil
Short % of Basic Shares4.7%

Earnings Returns History

Updated 9/16/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20260.3%-9.4%-13.6%
5/21/202615.8%11.2%16.2%
8/7/20257.1%10.8%11.7%
5/22/2025-1.5%7.9%-10.1%
SUMMARY STATS   
# Positive332
# Negative112
Median Positive7.1%10.8%13.9%
Median Negative-1.5%-9.4%-11.9%
Max Positive15.8%11.2%16.2%
Max Negative-1.5%-9.4%-13.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20260.3%-9.4%-13.6%
5/21/202615.8%11.2%16.2%
8/7/20257.1%10.8%11.7%
5/22/2025-1.5%7.9%-10.1%
SUMMARY STATS   
# Positive332
# Negative112
Median Positive7.1%10.8%13.9%
Median Negative-1.5%-9.4%-11.9%
Max Positive15.8%11.2%16.2%
Max Negative-1.5%-9.4%-13.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/27/202610-K
12/31/202502/05/202610-Q
09/30/202511/07/202510-Q
06/30/202508/11/202510-Q
03/31/202505/30/202510-K
12/31/202402/10/202510-Q
09/30/202411/12/202410-Q
06/30/202408/08/202410-Q
09/30/202301/05/2024S-4
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/27/202610-K
12/31/202502/05/202610-Q
09/30/202511/07/202510-Q
06/30/202508/11/202510-Q
03/31/202505/30/202510-K
12/31/202402/10/202510-Q
09/30/202411/12/202410-Q
06/30/202408/08/202410-Q
09/30/202301/05/2024S-4

Recent Forward Guidance

Updated 10/4/2026

Latest: Q1 2027 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2027 Scripted Deliveries GrowthReported 100.0%  0.0%AffirmedGuidance: 100.0% for 2027

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Insider Activity

Updated 9/17/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Rachesky, Mark H MD See FootnotesSell71020260.0042,600,497  Form
2Rachesky, Mark H MD See FootnotesBuy71020260.0042,600,497  Form
3Burns, Michael RaymondVice ChairDirectSell122920259.0121,748195,94927,581,529Form
4Feltheimer, JonChief Executive OfficerDirectSell122920258.28195,0001,614,60028,739,979Form
5Goldsmith, BrianChief Operating OfficerDirectSell121920258.5425,000213,50012,688,339Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Rachesky, Mark H MD See FootnotesSell71020260.0042,600,497  Form
2Rachesky, Mark H MD See FootnotesBuy71020260.0042,600,497  Form
3Burns, Michael RaymondVice ChairDirectSell122920259.0121,748195,94927,581,529Form
4Feltheimer, JonChief Executive OfficerDirectSell122920258.28195,0001,614,60028,739,979Form
5Goldsmith, BrianChief Operating OfficerDirectSell121920258.5425,000213,50012,688,339Form

Investor Activity (13F)

Updated Oct 21, 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
MHR Fund Management LLC$361.0 Mil26.4%10Hold13F
Liberty 77 Capital L.P.$360.1 Mil24.7%3Hold13F
Bayberry Capital Partners LP$22.3 Mil7.4%28TRIM -28.7%13F
Shapiro Capital Management LLC$89.3 Mil5.6%50TRIM -7.7%13F
Broad Bay Capital Management, LP$49.4 Mil5.1%24Hold13F
Ratan Capital Management LP$12.7 Mil4.7%37Hold13F
Masters Capital Management LLC$19.1 Mil2.8%44Hold13F
Jericho Capital Asset Management L.P.$180.4 Mil2.7%23ADD +236.0%13F
Shannon River Fund Management LLC$10.0 Mil1.9%28New13F
Glenview Capital Management, LLC$26.6 Mil0.7%41TRIM -63.0%13F
Corvex Management LP$15.6 Mil0.6%25New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Corvex Management LP$15.6 Mil0.6%25New13F
Shannon River Fund Management LLC$10.0 Mil1.9%28New13F
Jericho Capital Asset Management L.P.$180.4 Mil2.7%23ADD +236.0%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Glenview Capital Management, LLC$26.6 Mil0.7%41TRIM -63.0%13F
Bayberry Capital Partners LP$22.3 Mil7.4%28TRIM -28.7%13F
Shapiro Capital Management LLC$89.3 Mil5.6%50TRIM -7.7%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
MHR Fund Management LLC$361.0 Mil26.4%10Hold13F
Liberty 77 Capital L.P.$360.1 Mil24.7%3Hold13F
Jericho Capital Asset Management L.P.$180.4 Mil2.7%23ADD +236.0%13F
Shapiro Capital Management LLC$89.3 Mil5.6%50TRIM -7.7%13F
Broad Bay Capital Management, LP$49.4 Mil5.1%24Hold13F
Glenview Capital Management, LLC$26.6 Mil0.7%41TRIM -63.0%13F
Bayberry Capital Partners LP$22.3 Mil7.4%28TRIM -28.7%13F
Masters Capital Management LLC$19.1 Mil2.8%44Hold13F
Corvex Management LP$15.6 Mil0.6%25New13F
Ratan Capital Management LP$12.7 Mil4.7%37Hold13F
Shannon River Fund Management LLC$10.0 Mil1.9%28New13F

Industry Resources

Communication Services Resources
Variety
The Hollywood Reporter
Adweek
Movies & Entertainment Resources
Deadline
IndieWire
Screen Daily
Core Cache Last Updated: 10/20/2026