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Side-by-side financial comparison of Liberty Media Corp (FWONK) and USA TODAY Co., Inc. (TDAY), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Liberty Media Corp is the larger business by last-quarter revenue ($1.6B vs $585.0M, roughly 2.8× USA TODAY Co., Inc.). Liberty Media Corp runs the higher net margin — 20.7% vs -5.1%, a 25.8% gap on every dollar of revenue. On growth, Liberty Media Corp posted the faster year-over-year revenue change (37.9% vs -5.8%). Liberty Media Corp produced more free cash flow last quarter ($62.0M vs $30.8M). Over the past eight quarters, Liberty Media Corp's revenue compounded faster (65.6% CAGR vs -4.1%).
Liberty Media Corporation is an American mass media company founded by John C. Malone in 1991. The company has two divisions, represented by separate tracking stocks, reflecting its ownership stakes in the Formula One Group and Live Nation Entertainment. As of 2025, Liberty Media owned three global motorsport businesses in the form of Formula One, MotoGP and World Superbikes.
USA Today Co., Inc., formerly known as Gannett, is an American mass media holding company headquartered in New York City. It is the largest U.S. newspaper publisher as measured by total daily circulation.
FWONK vs TDAY — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $585.0M |
| Net Profit | $333.0M | $-30.1M |
| Gross Margin | — | 41.5% |
| Operating Margin | 12.8% | 7.4% |
| Net Margin | 20.7% | -5.1% |
| Revenue YoY | 37.9% | -5.8% |
| Net Profit YoY | 193.8% | -146.7% |
| EPS (diluted) | — | $-0.09 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $1.6B | $585.0M | ||
| Q3 25 | $1.1B | $560.8M | ||
| Q2 25 | $1.3B | $584.9M | ||
| Q1 25 | $447.0M | $571.6M | ||
| Q4 24 | $1.2B | $621.3M | ||
| Q3 24 | $911.0M | $612.4M | ||
| Q2 24 | $988.0M | $639.8M | ||
| Q1 24 | $587.0M | $635.8M |
| Q4 25 | $333.0M | $-30.1M | ||
| Q3 25 | $13.0M | $-39.2M | ||
| Q2 25 | $204.0M | $78.4M | ||
| Q1 25 | $5.0M | $-7.3M | ||
| Q4 24 | $-355.0M | $64.3M | ||
| Q3 24 | $-2.4B | $-19.7M | ||
| Q2 24 | $457.0M | $13.7M | ||
| Q1 24 | $203.0M | $-84.8M |
| Q4 25 | — | 41.5% | ||
| Q3 25 | — | 37.2% | ||
| Q2 25 | — | 38.5% | ||
| Q1 25 | — | 37.6% | ||
| Q4 24 | — | 39.5% | ||
| Q3 24 | — | 38.6% | ||
| Q2 24 | — | 38.8% | ||
| Q1 24 | — | 36.7% |
| Q4 25 | 12.8% | 7.4% | ||
| Q3 25 | 14.6% | -3.9% | ||
| Q2 25 | 20.9% | -1.6% | ||
| Q1 25 | -15.0% | 1.7% | ||
| Q4 24 | 2.0% | 1.0% | ||
| Q3 24 | 12.1% | -1.0% | ||
| Q2 24 | 6.0% | 1.1% | ||
| Q1 24 | 16.2% | -7.8% |
| Q4 25 | 20.7% | -5.1% | ||
| Q3 25 | 1.2% | -7.0% | ||
| Q2 25 | 15.2% | 13.4% | ||
| Q1 25 | 1.1% | -1.3% | ||
| Q4 24 | -30.4% | 10.4% | ||
| Q3 24 | -259.9% | -3.2% | ||
| Q2 24 | 46.3% | 2.1% | ||
| Q1 24 | 34.6% | -13.3% |
| Q4 25 | — | $-0.09 | ||
| Q3 25 | — | $-0.27 | ||
| Q2 25 | — | $0.42 | ||
| Q1 25 | — | $-0.05 | ||
| Q4 24 | — | $0.47 | ||
| Q3 24 | — | $-0.14 | ||
| Q2 24 | — | $0.09 | ||
| Q1 24 | — | $-0.60 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $90.2M |
| Total DebtLower is stronger | $5.1B | $954.2M |
| Stockholders' EquityBook value | $7.8B | $155.1M |
| Total Assets | $15.4B | $1.8B |
| Debt / EquityLower = less leverage | 0.66× | 6.15× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $1.1B | $90.2M | ||
| Q3 25 | $1.6B | $75.2M | ||
| Q2 25 | $3.4B | $88.5M | ||
| Q1 25 | $3.1B | $85.9M | ||
| Q4 24 | $2.6B | $106.3M | ||
| Q3 24 | $3.1B | $101.8M | ||
| Q2 24 | $2.1B | $98.9M | ||
| Q1 24 | $1.7B | $93.3M |
| Q4 25 | $5.1B | $954.2M | ||
| Q3 25 | $7.0B | $971.8M | ||
| Q2 25 | $4.8B | $988.9M | ||
| Q1 25 | $4.6B | $1.0B | ||
| Q4 24 | $3.0B | $1.1B | ||
| Q3 24 | $4.4B | $992.1M | ||
| Q2 24 | $15.0B | $1.0B | ||
| Q1 24 | $15.4B | $1.0B |
| Q4 25 | $7.8B | $155.1M | ||
| Q3 25 | $7.4B | $194.0M | ||
| Q2 25 | $7.3B | $237.1M | ||
| Q1 25 | $7.0B | $150.1M | ||
| Q4 24 | $7.0B | $153.1M | ||
| Q3 24 | $7.4B | $240.5M | ||
| Q2 24 | $17.1B | $249.8M | ||
| Q1 24 | $16.6B | $233.5M |
| Q4 25 | $15.4B | $1.8B | ||
| Q3 25 | $17.8B | $1.9B | ||
| Q2 25 | $13.8B | $2.0B | ||
| Q1 25 | $13.3B | $2.0B | ||
| Q4 24 | $13.0B | $2.0B | ||
| Q3 24 | $13.2B | $2.1B | ||
| Q2 24 | $42.6B | $2.1B | ||
| Q1 24 | $42.4B | $2.1B |
| Q4 25 | 0.66× | 6.15× | ||
| Q3 25 | 0.95× | 5.01× | ||
| Q2 25 | 0.65× | 4.17× | ||
| Q1 25 | 0.65× | 6.71× | ||
| Q4 24 | 0.43× | 7.05× | ||
| Q3 24 | 0.59× | 4.13× | ||
| Q2 24 | 0.88× | 4.06× | ||
| Q1 24 | 0.93× | 4.43× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $123.0M | $43.4M |
| Free Cash FlowOCF − Capex | $62.0M | $30.8M |
| FCF MarginFCF / Revenue | 3.9% | 5.3% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 3.8% | 2.2% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 0.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | $789.0M | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $123.0M | $43.4M | ||
| Q3 25 | $173.0M | — | ||
| Q2 25 | $231.0M | — | ||
| Q1 25 | $381.0M | $23.3M | ||
| Q4 24 | $-9.0M | $9.0M | ||
| Q3 24 | $182.0M | — | ||
| Q2 24 | $752.0M | — | ||
| Q1 24 | $395.0M | $22.5M |
| Q4 25 | $62.0M | $30.8M | ||
| Q3 25 | $170.0M | — | ||
| Q2 25 | $209.0M | — | ||
| Q1 25 | $348.0M | $9.8M | ||
| Q4 24 | $-32.0M | $-3.8M | ||
| Q3 24 | $170.0M | — | ||
| Q2 24 | $739.0M | — | ||
| Q1 24 | $368.0M | $9.5M |
| Q4 25 | 3.9% | 5.3% | ||
| Q3 25 | 15.7% | — | ||
| Q2 25 | 15.6% | — | ||
| Q1 25 | 77.9% | 1.7% | ||
| Q4 24 | -2.7% | -0.6% | ||
| Q3 24 | 18.7% | — | ||
| Q2 24 | 74.8% | — | ||
| Q1 24 | 62.7% | 1.5% |
| Q4 25 | 3.8% | 2.2% | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | 7.4% | 2.4% | ||
| Q4 24 | 2.0% | 2.1% | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 4.6% | 2.0% |
| Q4 25 | 0.37× | — | ||
| Q3 25 | 13.31× | — | ||
| Q2 25 | 1.13× | — | ||
| Q1 25 | 76.20× | — | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.65× | — | ||
| Q1 24 | 1.95× | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
FWONK
| Formula One | $1.4B | 87% |
| Product Service Or Other | $131.0M | 8% |
| Other | $77.0M | 5% |
TDAY
| Print And Commercial | $307.5M | 53% |
| Digital Advertising | $81.7M | 14% |
| Newsquest Segment | $60.1M | 10% |
| Commercial And Other | $48.3M | 8% |
| Digital Only Subscription | $43.2M | 7% |
| Commercial Printing And Delivery Revenue | $26.2M | 4% |
| Digital Other | $23.2M | 4% |
