Fox Corporation (Class A)

Communication Services Broadcasting New York City, New York Last filing Aug 6, 2025 · FY2025

                    Revenue
                    FY2025
                
$16.3B
                    3y CAGR +5.3%
                    
                    P63
                    
                    +16.6%
                    
                    Net income
                    FY2025
                
$2.3B
                    Net margin +14.1%
                    
                    P58
                    
                    +47.6%
                    
                    Total assets
                    FY2025
                
$23.2B
                    ROA +9.9%
                    
                    P79
                    
                    +5.6%
                    
                    Operating cash flow
                    FY2025
                
$3.3B
                    FCF margin +18.4%
                    
                    P65
                    
                    +80.7%

9 yrs · FY2017–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 5 years

Total assets $23.2B

Total liabilities $2.9B

Shareholders equity $12.0B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	23.1%	19.7%	19.5%	23.4%	25.7%
Short Term Investments	5.2%	3.6%	4.0%	2.0%	3.4%
Accounts Receivable	10.7%	10.8%	10.0%	9.6%	8.9%
Inventory	1.9%	—	—	—	—
Prepaid Expenses	0.8%	—	—	—	—
Other Current Assets	0.8%	0.9%	1.2%	0.7%	0.5%
Total Current Assets	36.3%	34.1%	33.2%	37.3%	38.2%
Property,Plant and Equipment	7.4%	7.7%	7.8%	7.6%	7.5%
Operating Lease Assets	3.5%	4.1%	4.3%	2.2%	2.0%
Goodwill	15.7%	16.1%	16.3%	16.0%	15.0%
Intangible Assets	12.8%	13.8%	14.1%	14.2%	13.8%
Long Term Investments	7.0%	5.1%	4.7%	2.6%	3.9%
Deferred Tax Assets	11.7%	—	—	—	—
Other Noncurrent Assets	16.1%	15.1%	14.5%	9.3%	9.0%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	12.5%	10.7%	11.5%	10.3%	9.8%
Accrued Liabilities	4.7%	4.6%	4.7%	4.5%	4.7%
Deferred Revenue	1.3%	0.8%	0.7%	0.9%	0.9%
Operating Lease Liabilities	0.2%	0.3%	0.3%	0.5%	0.4%
Other Current Liabilities	1.8%	1.9%	2.1%	1.4%	1.0%
Total Current Liabilities	12.5%	13.4%	17.2%	10.3%	13.1%
Long Term Debt	28.5%	30.0%	27.3%	32.5%	31.4%
Operating Lease Liabilities Noncurrent	3.5%	4.0%	4.2%	1.8%	1.8%
Other Noncurrent Liabilities	5.8%	6.2%	6.8%	5.0%	5.8%
Total Liabilities	12.5%	—	—	—	—
Equity
Additional Paid In Capital	32.8%	34.9%	37.7%	41.0%	41.2%
Retained Earnings	19.3%	14.3%	10.4%	11.1%	8.6%
Accumulated Other Comprehensive Income	-0.5%	-0.5%	-0.7%	-1.0%	-1.4%
Noncontrolling Interest	0.5%	0.5%	0.3%	0.2%	0.0%
Total Stockholders Equity	51.6%	48.8%	47.5%	51.1%	48.5%
Total Liabilitiesand Equity	100.0%	—	—	—	—

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $16.3B

Operating income Not reported

Net income $2.3B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	70.3%	63.6%	68.2%	63.0%	56.3%
Expenses Selling,General and Administrative	9.3%	9.2%	9.4%	8.7%	7.9%
Expenses Depreciation and Amortization	1.7%	1.8%	1.9%	1.6%	1.3%
Expenses Share Based Compensation	0.6%	—	—	—	—
Expenses Restructuring and Asset Impairment	0.2%	0.1%	0.5%	0.0%	0.2%
Expenses Operating Expenses	45.3%	41.4%	44.3%	41.1%	35.1%
Other Income Expense Interest Income	0.8%	0.9%	0.6%	0.0%	0.0%
Other Income Expense Interest Expense	1.7%	1.8%	1.6%	1.7%	1.7%
Other Income Expense Other Income/expense	1.9%	—	—	—	—
Other Income Expense Income Before Tax	13.2%	9.6%	7.9%	7.6%	12.7%
Income Tax Income Tax Expense	3.3%	2.5%	2.2%	2.1%	3.1%
net Income net Income	9.9%	7.1%	5.7%	5.6%	9.6%
net Income Comprehensive Income	9.7%	7.0%	6.0%	5.8%	9.8%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	2.0%	2.2%	2.4%	2.6%	2.6%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 5 years

Operating cash flow $3.3B

Investing cash flow $-537.0M

Financing cash flow $-1.8B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	9.9%	7.1%	5.7%	5.6%	9.6%
Operating Activities Depreciation and Amortization	1.7%	1.8%	1.9%	1.6%	1.3%
Operating Activities Stock Based Compensation	0.6%	0.4%	0.3%	0.5%	0.6%
Operating Activities Deferred Income Taxes	0.7%	0.9%	1.5%	1.5%	2.3%
Operating Activities net Cash From Operating Activities	14.3%	8.4%	8.2%	8.5%	11.5%
Investing Activities Capital Expenditures	1.4%	1.6%	1.6%	1.4%	2.1%
Investing Activities Business Acquisitions	0.4%	—	—	—	—
Investing Activities Purchases of Investments	0.3%	—	—	—	—
Investing Activities Other Investing Activities	0.1%	0.0%	0.1%	0.1%	0.0%
Investing Activities net Cash From Investing Activities	-2.3%	-2.1%	-2.0%	-2.3%	-2.3%
Financing Activities Proceeds From Debt	0.0%	5.6%	0.0%	0.0%	0.0%
Financing Activities Repayment of Debt	2.6%	5.7%	0.0%	3.4%	0.0%
Financing Activities Repurchase of Common Stock	4.3%	—	—	—	—
Financing Activities Dividends Paid	1.2%	1.3%	1.4%	1.4%	1.4%
Financing Activities Proceeds From Stock Issuance	0.7%	—	—	—	—
Financing Activities Other Financing Activities	0.5%	-0.2%	-0.1%	-0.1%	-0.2%
Financing Activities net Cash From Financing Activities	-7.6%	-6.1%	-10.5%	-9.3%	-3.8%
Cash Reconciliation Effect of Exchange Rate On Cash	23.1%	—	—	—	—
Cash Reconciliation net Change In Cash	4.4%	0.2%	-4.2%	-3.1%	5.4%
Cash Reconciliation Cash At Beginning of Period	23.1%	19.7%	19.5%	23.4%	25.7%
Cash Reconciliation Cash At End of Period	23.1%	19.7%	19.5%	23.4%	25.7%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	—	—
Operating margin	—	—	—	—	—
Net margin	+14.1%	+11.1%	+8.4%	+8.8%	+17.1%
FCF margin	+18.4%	+10.7%	+9.7%	+11.3%	+16.7%
Growth
Revenue CAGR (3y)	+5.3%	+2.7%	+6.6%	+7.1%	+8.3%
Returns
ROE	+19.2%	+14.5%	+12.1%	+10.9%	+19.8%
ROA	+9.9%	+7.1%	+5.7%	+5.6%	+9.6%
ROIC	—	—	—	—	—
Liquidity
Current ratio	2.91x	2.54x	1.93x	3.61x	2.91x
Quick ratio	2.70x	2.26x	1.71x	3.19x	2.64x
Leverage
D/E	0.24x	1.05x	1.11x	0.96x	1.06x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.70x	0.64x	0.68x	0.63x	0.56x
Cash conversion cycle	—	—	—	—	—

Valuation

Price against fundamentals

FOXA $59 · 2025-09-17 · 363d old · FY2025

Market cap $27.3B

P/E 11.91x

P/S 1.67x

P/B 2.28x

EV $28.6B

EV/EBITDA —

FCF yield +11.0%

Dividend yield +1.0%

Notes

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