Lionsgate studios Financials
This page shows Lionsgate studios (LION) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Positive operating profit is being overpowered by financing costs and a sharp cash-conversion reversal.
FY2024’s cash-rich result did not persist: operating cash flow swung from$488.9M to-$106.8M in FY2025 even as revenue recovered. Meanwhile, interest expense of$242.5M still sat above operating income of$124.6M , so the smaller net loss reflects less damage below the operating line, not a business yet funding its capital structure from operations.
The balance-sheet cushion is thin: current assets were
This is not a heavily reinvestment-driven cash drain. Capital spending was only
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Lionsgate studios's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Lionsgate studios has an operating margin of 3.7%, meaning the company retains $4 of operating profit per $100 of revenue. This below-average margin results in a low score of 26/100, suggesting thin profitability after operating expenses. This is up from -0.7% the prior year.
Lionsgate studios's revenue grew a modest 1.8% year-over-year to $2.6B. This slow but positive growth earns a score of 39/100.
Lionsgate studios's current ratio of 0.49 is below the typical benchmark, resulting in a score of 4/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Lionsgate studios's free cash flow margin of 0.4% results in a low score of 28/100. Capital expenditures of $13.4M absorb a large share of operating cash flow.
Lionsgate studios scores -0.40, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4.0B) relative to total liabilities ($6.4B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Lionsgate studios passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Lionsgate studios generates $-0.13 in operating cash flow ($24.8M OCF vs -$198.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Lionsgate studios earns $0.4 in operating income for every $1 of interest expense ($97.1M vs $259.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Lionsgate studios generated $2.6B in revenue in fiscal year 2026. This represents an increase of 1.8% from the prior year.
Lionsgate studios's EBITDA was $114.7M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 38333.3% from the prior year.
Lionsgate studios reported -$198.3M in net income in fiscal year 2026. This represents an increase of 45.2% from the prior year.
Lionsgate studios earned $-0.70 per diluted share (EPS) in fiscal year 2026. This represents an increase of 51.0% from the prior year.
Cash & Balance Sheet
Lionsgate studios generated $11.4M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 106.4% from the prior year.
Lionsgate studios held $341.5M in cash against $1.8B in long-term debt as of fiscal year 2026.
Lionsgate studios had 291M shares outstanding in fiscal year 2026.
Margins & Returns
Lionsgate studios's operating margin was 3.7% in fiscal year 2026, reflecting core business profitability. This is up 4.4 percentage points from the prior year.
Lionsgate studios's net profit margin was -7.5% in fiscal year 2026, showing the share of revenue converted to profit. This is up 6.5 percentage points from the prior year.
Capital Allocation
Lionsgate studios invested $13.4M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 0.7% from the prior year.
LION Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $906.5M+25.2% | $724.3M+52.5% | $475.1M-9.7% | $525.9M-39.2% | $865.6M+37.8% | $628.2M+4.0% | $604.0M+24.1% | $486.9M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $145.6M+54.7% | $94.1M+6.8% | $88.1M+25.5% | $70.2M-20.8% | $88.6M+3.4% | $85.7M-2.2% | $87.6M-8.7% | $95.9M |
| Operating Income | $117.7M+226.9% | $36.0M+178.3% | -$46.0M-334.0% | -$10.6M-113.7% | $77.4M+179.4% | $27.7M+127.5% | -$100.7M-347.6% | -$22.5M |
| Interest Expense | $58.7M-9.7% | $65.0M-3.4% | $67.3M-2.0% | $68.7M+3.2% | $66.6M+4.6% | $63.7M-6.2% | $67.9M+6.9% | $63.5M |
| Income Tax | $1.3M-80.6% | $6.7M+272.2% | $1.8M-71.9% | $6.4M+88.2% | $3.4M-20.9% | $4.3M+10.3% | $3.9M-30.4% | $5.6M |
| Net Income | $70.3M+252.2% | -$46.2M+59.3% | -$113.5M-4.2% | -$108.9M+7.2% | -$117.4M-436.1% | -$21.9M+86.6% | -$163.3M-174.9% | -$59.4M |
| EPS (Diluted) | N/A | $-0.16+59.0% | $-0.39+2.5% | $-0.40 | N/A | $-0.09+86.4% | $-0.66-175.0% | $-0.24 |
LION Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.3B+1.6% | $5.2B+1.6% | $5.2B0.0% | $5.2B-24.4% | $6.8B | N/A | N/A | N/A |
| Current Assets | $1.5B+12.8% | $1.3B+1.5% | $1.3B-7.7% | $1.4B+13.9% | $1.2B | N/A | N/A | N/A |
| Cash & Equivalents | $341.5M+87.2% | $182.4M-9.9% | $202.4M+8.8% | $186.1M-12.4% | $212.5M | N/A | N/A | N/A |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $784.8M+1.6% | $772.2M+6.5% | $725.0M-13.1% | $834.7M+42.5% | $585.6M | N/A | N/A | N/A |
| Goodwill | $846.8M0.0% | $846.8M+0.2% | $845.2M+0.1% | $844.1M+4.4% | $808.5M | N/A | N/A | N/A |
| Total Liabilities | $6.4B0.0% | $6.4B+1.6% | $6.3B+1.8% | $6.2B-13.0% | $7.1B | N/A | N/A | N/A |
| Current Liabilities | $3.0B+6.2% | $2.9B+1.9% | $2.8B-10.0% | $3.1B-9.8% | $3.5B | N/A | N/A | N/A |
| Long-Term Debt | $1.8B+0.8% | $1.8B-0.4% | $1.8B+15.9% | $1.5B-16.9% | $1.8B | N/A | N/A | N/A |
| Total Equity | -$1.2B+6.5% | -$1.3B-1.2% | -$1.3B-9.9% | -$1.1B-333.7% | -$264.7M-3.4% | -$256.1M-14.0% | -$224.6M-358.4% | -$49.0M |
| Retained Earnings | -$3.7B+1.8% | -$3.8B-1.2% | -$3.8B-3.1% | -$3.6B-3.1% | -$3.5B | N/A | N/A | N/A |
LION Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $268.7M+346.7% | -$108.9M-4.7% | -$104.0M-235.5% | -$31.0M-116.0% | $193.7M+263.0% | -$118.8M-44.9% | -$82.0M+48.4% | -$158.9M |
| Capital Expenditures | $3.7M+23.3% | $3.0M-6.3% | $3.2M-8.6% | $3.5M-2.8% | $3.6M+176.9% | $1.3M-71.1% | $4.5M+9.8% | $4.1M |
| Free Cash Flow | $265.0M+336.8% | -$111.9M-4.4% | -$107.2M-210.7% | -$34.5M-118.1% | $190.1M+258.3% | -$120.1M-38.8% | -$86.5M+46.9% | -$163.0M |
| Investing Cash Flow | -$100K+96.7% | -$3.0M+18.9% | -$3.7M-94.7% | -$1.9M+71.6% | -$6.7M-116.1% | -$3.1M-210.7% | $2.8M+106.1% | -$46.0M |
| Financing Cash Flow | -$95.8M-233.6% | $71.7M-48.5% | $139.2M+3337.2% | -$4.3M+97.1% | -$148.2M-259.9% | $92.7M-25.1% | $123.8M+63.1% | $75.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
LION Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 13.0%+8.0pp | 5.0%+14.6pp | -9.7%-7.7pp | -2.0%-11.0pp | 8.9%+4.5pp | 4.4%+21.1pp | -16.7%-12.0pp | -4.6% |
| Net Margin | 7.8%+14.1pp | -6.4%+17.5pp | -23.9%-3.2pp | -20.7%-7.2pp | -13.6%-10.1pp | -3.5%+23.5pp | -27.0%-14.8pp | -12.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 1.3%+2.2pp | -0.9%+1.3pp | -2.2%-0.1pp | -2.1%-0.4pp | -1.7% | N/A | N/A | N/A |
| Current Ratio | 0.49+0.0 | 0.460.0 | 0.46+0.0 | 0.45+0.1 | 0.36 | N/A | N/A | N/A |
| Debt-to-Equity | -1.49-0.1 | -1.38+0.0 | -1.40-0.1 | -1.33+5.6 | -6.95 | N/A | N/A | N/A |
| FCF Margin | 29.2%+44.7pp | -15.4%+7.1pp | -22.6%-16.0pp | -6.6%-28.5pp | 22.0%+41.1pp | -19.1%-4.8pp | -14.3%+19.2pp | -33.5% |
Note: Shareholder equity is negative (-$1.2B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.49), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Frequently Asked Questions
What is Lionsgate studios's annual revenue?
Lionsgate studios (LION) reported $2.6B in total revenue for fiscal year 2026. This represents a 1.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Lionsgate studios's revenue growing?
Lionsgate studios (LION) revenue grew by 1.8% year-over-year, from $2.6B to $2.6B in fiscal year 2026.
Is Lionsgate studios profitable?
No, Lionsgate studios (LION) reported a net income of -$198.3M in fiscal year 2026, with a net profit margin of -7.5%.
What is Lionsgate studios's EBITDA?
Lionsgate studios (LION) had EBITDA of $114.7M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Lionsgate studios have?
As of fiscal year 2026, Lionsgate studios (LION) had $341.5M in cash and equivalents against $1.8B in long-term debt.
What is Lionsgate studios's operating margin?
Lionsgate studios (LION) had an operating margin of 3.7% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Lionsgate studios's net profit margin?
Lionsgate studios (LION) had a net profit margin of -7.5% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Lionsgate studios's free cash flow?
Lionsgate studios (LION) generated $11.4M in free cash flow during fiscal year 2026. This represents a 106.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Lionsgate studios's operating cash flow?
Lionsgate studios (LION) generated $24.8M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Lionsgate studios's total assets?
Lionsgate studios (LION) had $5.3B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Lionsgate studios's capital expenditures?
Lionsgate studios (LION) invested $13.4M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is Lionsgate studios's current ratio?
Lionsgate studios (LION) had a current ratio of 0.49 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.
What is Lionsgate studios's debt-to-equity ratio?
Lionsgate studios (LION) had a debt-to-equity ratio of -1.49 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Lionsgate studios's return on assets (ROA)?
Lionsgate studios (LION) had a return on assets of -3.7% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
Why is Lionsgate studios's debt-to-equity ratio negative or unusual?
Lionsgate studios (LION) has negative shareholder equity of -$1.2B as of fiscal year 2026, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Lionsgate studios's Altman Z-Score?
Lionsgate studios (LION) has an Altman Z-Score of -0.40, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Lionsgate studios's Piotroski F-Score?
Lionsgate studios (LION) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Lionsgate studios's earnings high quality?
Lionsgate studios (LION) has an earnings quality ratio of -0.13x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Lionsgate studios cover its interest payments?
Lionsgate studios (LION) has an interest coverage ratio of 0.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Lionsgate studios?
Lionsgate studios (LION) scores 16 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.