Liberty Media (FWONA) Operating Expenses (2012 - 2026)
Liberty Media (FWONA) posted Operating Expenses of $846 million for Q2 2026, down 20.3% from $1.06 billion a year earlier but up 30.8% from the prior quarter.
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Analysis
Liberty Media (FWONA) Operating Expenses (2012 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Liberty Media was $3.81 billion, up 8.4% year-over-year; for FY2025, it came in at $3.91 billion, up 16.0% from FY2024.
- Annual Operating Expenses has increased for three consecutive years, though with a five-year compound annual growth rate of -15.7% (FY2020 to FY2025).
- In prior years, Liberty Media's Operating Expenses was $3.37 billion in FY2024 (+1.8%), $3.31 billion in FY2023 (+9.6%), $3.02 billion in FY2022 (-68.0%) and $9.42 billion in FY2021 (+2.6%).
- Quarterly Operating Expenses has run from a low of -$4.53 billion in Q4 2022 to a high of $2.74 billion in Q3 2022 over five years.
- On a year-over-year basis, Operating Expenses increased in six of the last eight quarters, with growth averaging 7.6%.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q1 2026, with growth of 25.9%; the weakest was Q1 2024, with a decline of 77.7%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $647 million (Q1 2026), $1.38 billion (Q4 2025) and $936 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Live Nation Entertainment | 41.28 Bn | 7.78 Bn | 2.36 Bn | 1.27 Bn |
| 2 | Liberty Media | 25.82 Bn | 19.63 Bn | 494.00 Mn | 989.00 Mn |
| 3 | TKO Group Holdings | 14.53 Bn | 11.69 Bn | 871.13 Mn | 982.58 Mn |
| 4 | Liberty Live Holdings | 9.52 Bn | 7.43 Bn | 20.12 Mn | 117.53 Mn |
| 5 | Cinemark Holdings | 4.67 Bn | 1.08 Bn | - | 1.70 Bn |
| 6 | Madison Square Garden Entertainment | 3.83 Bn | 2.86 Bn | 90.38 Mn | 66.86 Mn |
| 7 | Amc Entertainment Holdings | 3.05 Bn | 749.24 Mn | 1.13 Bn | 1.46 Bn |
| 8 | Marcus | 833.48 Mn | 712.23 Mn | 113.63 Mn | 207.47 Mn |
| 9 | Reading International | 40.65 Mn | 10.76 Mn | 14.10 Mn | 59.42 Mn |
| 10 | Nip | 10.14 Mn | -30,357.31 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 989.00 Mn |
| Jun 30, 2026 | 846.00 Mn |
| Mar 31, 2026 | 647.00 Mn |
| Dec 31, 2025 | 1.38 Bn |
| Sep 30, 2025 | 936.00 Mn |
| Jun 30, 2025 | 1.06 Bn |
| Mar 31, 2025 | 514.00 Mn |
| Dec 31, 2024 | 1.14 Bn |
| Sep 30, 2024 | 804.00 Mn |
| Jun 30, 2024 | 931.00 Mn |
| Mar 31, 2024 | 494.00 Mn |
| Dec 31, 2023 | 1.10 Bn |
| Sep 30, 2023 | 835.00 Mn |
| Jun 30, 2023 | 2.72 Bn |
| Mar 31, 2023 | 2.22 Bn |
| Dec 31, 2022 | -4.53 Bn |
| Sep 30, 2022 | 2.74 Bn |
| Jun 30, 2022 | 2.70 Bn |
| Mar 31, 2022 | 2.11 Bn |
| Dec 31, 2021 | 2.66 Bn |
API Access
Liberty Media Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=FWONA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "FWONA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=FWONA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();