Strong Cash GenerationRobust and growing operating and free cash flow provide durable internal funding for race calendar investments, media deals, debt service and shareholder returns. High cash conversion relative to earnings increases resilience to cyclical event volatility and supports reinvestment without heavy external financing.
Manageable LeverageModerate leverage amid a growing asset base gives the company financial flexibility to refinance, fund commercial initiatives, and absorb timing differences from event-driven revenue. This balance sheet profile reduces refinancing risk and supports multi-year commercial contracts and capex needs.
Strengthening Commercial PartnershipsMulti-year media rights renewals and a strategic U.S. distribution partnership expand recurring revenue visibility and global audience access. Strong partner roster and sponsorship momentum underpin pricing power for media and commercial inventory, supporting sustainable revenue and margin expansion over the medium term.