Is it safe?
Can FWONK take a bad year?
Formula One Group carries $3.46B of net debt at 3.54× EBITDA: a load its earnings can carry.
$3.46B
Net debt · as at Q2 2026 · between two and four years of EBITDA, normal for a stable business
- Net debt / EBITDA
- 3.54×
Net debt / EBITDA · 1.99× a year ago · the load is going up
- Altman Z-score
- 2.94
Altman Z-score · grey zone, between 1.8 and 3
- Interest cover
- 1.89×
Interest cover · operating profit barely covers the interest bill
Details›
- Total debtQ2 2026
- $4.92B
- Cash and short-term investments
- $1.47B
- Net debt
- $3.46B
- EBITDA, trailing twelve months
- $976M
- Operating profit, trailing twelve months
- $516M
- Debt / equity
- 0.65×
- Total debt / EBITDA
- 5.04×
- Annualised volatilitytwo years of daily moves
- 26%
- Worst drawdown on file
- −58%
- Below its 52-week high
- −4.6%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.