Update shared on04 Sep 2025
Despite inclusion of the MotoGP acquisition, improved financial performance, and bullish media rights catalysts boosting long-term growth prospects, concerns over limited near-term rights opportunities and valuation risks have kept Formula One Group's consensus analyst price target unchanged at $115.87.
Analyst Commentary
- Inclusion of MotoGP (Dorna) acquisition, leading to higher revenue and OIBDA estimates, with incremental monetization opportunities through MotoGP and expansion of portfolio.
- Stronger-than-expected recent financial performance, including clean beats on revenue and OIBDA, driven by healthy trends in live events, promotion, and sponsorship.
- Bullish media rights catalysts, including significant bids for U.S. Formula 1 broadcasting rights (notably from Apple), which may lift future global media deals and media revenue expectations.
- Enhanced shareholder return potential and premium asset quality, underpinned by secular growth in sports media and rising engagement via factors such as the new "F1" movie and dynamic pricing for high-profile events.
- Bearish analysts flag limited near-term rights catalysts and caution on valuation, with downside risk to rights estimates and expectations for F1 EBITDA and media rights growth to moderate following recent events.
What's in the News
- TD Cowen raised its price target for Liberty Formula One to $105 (from $104) and maintained a Buy rating after the company delivered stronger-than-expected revenue and OIBDA, despite managing a heavier event schedule (TD Cowen).
- Formula One Group (FWON.K) has been added to the Russell 1000 Value-Defensive Index (Key Developments).
- Formula One Group (FWON.A) has been added to the Russell 1000 Growth-Defensive Index (Key Developments).
- Formula One Group (FWON.K) has also been added to the Russell 1000 Defensive Index (Key Developments).
- Formula One Group (FWON.A) has been added to both the Russell 1000 Defensive Index and the Russell 1000 Value-Defensive Index (Key Developments).
Valuation Changes
Summary of Valuation Changes for Formula One Group
- The Consensus Analyst Price Target remained effectively unchanged, at $115.87.
- The Net Profit Margin for Formula One Group remained effectively unchanged, at 14.24%.
- The Consensus Revenue Growth forecasts for Formula One Group remained effectively unchanged, at 11.3% per annum.
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