- Skydance market cap ~$40B, book equity ~$58B (mostly goodwill)
Skydance's stock has fallen 19% since closing its Warner Bros. Discovery takeover, leaving a $40 billion market cap against $58 billion of book equity—almost entirely goodwill. High debt and leverage at 7.8x EBITDA raise questions about the balance sheet's credibility. A $1 billion Musk investment hasn't closed the gap.
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