Liberty Media Corp (FWONA) is overvalued and Live Nation Entertainment Inc (LYV) is overvalued.
Both trade above our estimate of their intrinsic value. LYV is the closer of the two: -132%, against -149% for FWONA.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.9% (average of 3 methods) values the shares at $34.79; the price of $86.67 is 149% above that value, and 76% of that value comes from beyond year five.
Leak Score 36/100 on 8 of 12 signals
Discounting its cash flows at 9.6% values the shares at $73.24; the price of $169.84 is 132% above that value.
Leak Score 40/100 on 8 of 12 signals
| Metric | FWONA | LYV |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $86.67 | $169.84 |
| Intrinsic value | $34.79 | $73.24 |
| Margin of safety | -149% | -132% |
| Leak Score | 36/100 (8/12) | 40/100 (8/12) |
| Market cap | $23.6B | $40.0B |
| Revenue growth, 5 years | 31.4% | 68.4% |
| Operating margin | 12.4% | 5.6% |
| Net margin | 9.4% | -1.0% |
| Return on equity | 5.8% | -116.7% |
| Debt to equity | 0.65 | 137.04 |
| P/E | 53.6x | — |
| Forward P/E | 39.2x | 89.9x |
| P/B | 2.9x | 480.6x |