Formula One Group (FWONK) Margin Analysis

Formula One Group

FWONK (NASDAQ)

(%)

Models
Formula One Group Margin Analysis

# --- Years and Quarters
assumptions.set({
    "timeseries": "annual",
    "data": {
        "#years": """
            4
        """,
        "#quarters": """
            8
        """,
    },
    "titles": {
        "#years": "Years",
        "#quarters": "Quarters",
    },
    "properties": {
        "width": "responsive",
        "title": "Years and Quarters",
        "id": "component-1",
        "bindTo": None
    },
    "descriptions": {
        "#years": r"""
The number of historical years used to render the annual chart and tables.
        """,
        "#quarters": r"""
The number of historical quarters used to render the quarterly chart and tables.
        """,
    }
})

# Render description block
model.render_description({
    "data": r"""
## Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.
""",
    "properties": {
        "width": "responsive"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Annual Section

The annual section uses annual data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

# --- Income Statement Margins
data.compute({
    "user:%revenueGrowthRate": """
        ( income:revenue / income:revenue:-1 ) - 1
    """,
    "user:%grossMargin": """
        income:grossProfit / income:revenue
    """,
    "user:%operatingMargin": """
        income:operatingIncome / income:revenue
    """,
    "user:%netMargin": """
        income:netIncome / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

# --- Cash Flow Statement Margins
data.compute({
    "user:%cashFromOperatingActivitiesMargin": """
        flow:netCashProvidedByOperatingActivities / income:revenue
    """,
    "user:%freeCashFlowMargin": """
        flow:freeCashFlow / income:revenue
    """,
    "user:%depreciationAndAmortizationMargin": """
        flow:depreciationAndAmortization / income:revenue
    """,
    "user:%capitalExpenditureMargin": """
        flow:capitalExpenditure / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "annual",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Annual Chart",
        "include_ltm": False,
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "quarterly",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Quarterly Chart",
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

Years and Quarters

Years Years The number of historical years used to render the annual chart and tables.	#
Quarters Quarters The number of historical quarters used to render the quarterly chart and tables.	#

Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.

Annual Section

The annual section uses annual data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	LTM Mar 21	2025 Dec 31	2024 Dec 31	2023 Dec 31	2022 Dec 31
Revenue	4,482	4,482	3,653	3,222	2,573
Revenue Growth Rate	0%	22.69%	13.38%	25.22%	20.46%
Cost of Revenue	3,364	3,364	2,488	2,240	1,750
Gross Profit	1,118	1,118	1,165	982	823
Gross Margin	24.94%	24.94%	31.89%	30.48%	31.99%
Operating Income	604	604	287	297	173
Operating Margin	13.48%	13.48%	7.86%	9.22%	6.72%
Net Income	555	555	-30	185	558
Net Margin	12.38%	12.38%	-0.821%	5.74%	21.69%

Cash Flow Statement Margins

Monetary values in USD amounts except #	LTM Mar 21	2025 Dec 31	2024 Dec 31	2023 Dec 31	2022 Dec 31
Revenue	4,482	4,482	3,653	3,222	2,573
Cash from Operating Activities	860	870	567	619	534
Cash from Operating Activities Margin	19.19%	19.41%	15.52%	19.21%	20.75%
Free Cash Flow	741	751	492	193	243
Free Cash Flow Margin	16.53%	16.76%	13.47%	5.99%	9.44%
Depreciation and Amortization	270.5	393	352	369	362
Depreciation and Amortization Margin	6.04%	8.77%	9.64%	11.45%	14.07%
Capital Expenditure	-119	-119	-75	-426	-291
Capital Expenditure Margin	-2.66%	-2.66%	-2.05%	-13.22%	-11.31%

Annual Chart

Monetary values in USD

{"sectionId": "section-chart-1", "sectionType": "chart", "title": "Annual Chart", "timeseries": "annual", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 31.99}, {"l": "2023", "x": "2023-12-31", "y": 30.48}, {"l": "2024", "x": "2024-12-31", "y": 31.89}, {"l": "2025", "x": "2025-12-31", "y": 24.94}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 6.72}, {"l": "2023", "x": "2023-12-31", "y": 9.22}, {"l": "2024", "x": "2024-12-31", "y": 7.86}, {"l": "2025", "x": "2025-12-31", "y": 13.48}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 21.69}, {"l": "2023", "x": "2023-12-31", "y": 5.74}, {"l": "2024", "x": "2024-12-31", "y": -0.821}, {"l": "2025", "x": "2025-12-31", "y": 12.38}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 9.44}, {"l": "2023", "x": "2023-12-31", "y": 5.99}, {"l": "2024", "x": "2024-12-31", "y": 13.47}, {"l": "2025", "x": "2025-12-31", "y": 16.76}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}

Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	2025 (Q4) Dec 31	2025 (Q3) Sep 30	2025 (Q2) Jun 30	2025 (Q1) Mar 31	2024 (Q4) Dec 31	2024 (Q3) Sep 30
Revenue	1,616	1,078	1,341	447	1,167	911
Revenue Growth Rate	49.91%	-19.61%	200%	-61.7%	28.1%
Cost of Revenue	1,508	664	867	325	855	595
Gross Profit	108	414	474	122	312	316
Gross Margin	6.68%	38.4%	35.35%	27.29%	26.74%	34.69%
Operating Income	237	158	280	-71	23	110
Operating Margin	14.67%	14.66%	20.88%	-15.88%	1.97%	12.07%
Net Income	102	66	382	5	-248	117
Net Margin	6.31%	6.12%	28.49%	1.12%	-21.25%	12.84%

Cash Flow Statement Margins

Monetary values in USD amounts except #	2025 (Q4) Dec 31	2025 (Q3) Sep 30	2025 (Q2) Jun 30	2025 (Q1) Mar 31	2024 (Q4) Dec 31	2024 (Q3) Sep 30
Revenue	1,616	1,078	1,341	447	1,167	911
Cash from Operating Activities	85	157	237	381	-20	186
Cash from Operating Activities Margin	5.26%	14.56%	17.67%	85.23%	-1.71%	20.42%
Free Cash Flow	24	154	215	348	-43	174
Free Cash Flow Margin	1.49%	14.29%	16.03%	77.85%	-3.69%	19.1%
Depreciation and Amortization	-4.47	118	80	77	89	88
Depreciation and Amortization Margin	-0.277%	10.95%	5.97%	17.23%	7.63%	9.66%
Capital Expenditure	-61	-3	-22	-33	-23	-12
Capital Expenditure Margin	-3.77%	-0.278%	-1.64%	-7.38%	-1.97%	-1.32%

Quarterly Chart

Monetary values in USD

{"sectionId": "section-chart-2", "sectionType": "chart", "title": "Quarterly Chart", "timeseries": "quarterly", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": 34.69}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 26.74}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 27.29}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 35.35}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 38.4}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": 6.68}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": 12.07}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 1.97}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": -15.88}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 20.88}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 14.66}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": 14.67}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": 12.84}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": -21.25}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 1.12}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 28.49}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 6.12}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": 6.31}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": 19.1}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": -3.68}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 77.85}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 16.03}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 14.29}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": 1.49}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}