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

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	$5.4B 23.9%	$4.3B 1.1%	$4.3B -17.8%	$5.2B -11.7%	$5.9B
Short Term Investments	$1.2B 50.6%	$797.0M -9.8%	$884.0M 103.2%	$435.0M -44.8%	$788.0M
Accounts Receivable	$2.5B 4.6%	$2.4B 8.6%	$2.2B 2.3%	$2.1B 4.9%	$2.0B
Inventory	$432.0M	—	—	—	—
Prepaid Expenses	$174.0M	—	—	—	—
Other Current Assets	$174.0M -9.4%	$192.0M -27.5%	$265.0M 63.6%	$162.0M 54.3%	$105.0M
Total Current Assets	$8.4B 12.4%	$7.5B 3.4%	$7.3B -12.4%	$8.3B -5.3%	$8.7B
Property,Plant and Equipment	$1.7B 0.5%	$1.7B -0.7%	$1.7B 1.5%	$1.7B -1.5%	$1.7B
Operating Lease Assets	$814.0M -10.0%	$904.0M -4.5%	$947.0M 98.5%	$477.0M 1.7%	$469.0M
Goodwill	$3.6B 2.7%	$3.5B -0.4%	$3.6B 0.1%	$3.6B 3.5%	$3.4B
Intangible Assets	$3.0B -2.3%	$3.0B -1.5%	$3.1B -2.3%	$3.2B 0.1%	$3.2B
Long Term Investments	$1.6B 43.6%	$1.1B 9.2%	$1.0B 78.9%	$578.0M -35.7%	$899.0M
Deferred Tax Assets	$2.7B	—	—	—	—
Other Noncurrent Assets	$3.7B 12.6%	$3.3B 4.6%	$3.2B 53.0%	$2.1B 0.6%	$2.1B
Total Assets	$23.2B 5.6%	$22.0B 0.5%	$21.9B -1.4%	$22.2B -3.2%	$22.9B
Liabilities
Accounts Payable	$2.9B 23.1%	$2.4B -6.4%	$2.5B 9.5%	$2.3B 1.9%	$2.3B
Accrued Liabilities	$1.1B 7.5%	$1.0B -2.1%	$1.0B 3.6%	$992.0M -7.9%	$1.1B
Deferred Revenue	$299.0M 66.1%	$180.0M 12.5%	$160.0M -23.4%	$209.0M 6.6%	$196.0M
Operating Lease Liabilities	$41.0M -46.1%	$76.0M 5.6%	$72.0M -32.7%	$107.0M 16.3%	$92.0M
Other Current Liabilities	$406.0M -0.5%	$408.0M -13.0%	$469.0M 55.3%	$302.0M 31.9%	$229.0M
Total Current Liabilities	$2.9B -1.9%	$3.0B -21.6%	$3.8B 63.9%	$2.3B -23.5%	$3.0B
Long Term Debt	$6.6B 0.1%	$6.6B 10.7%	$6.0B -17.3%	$7.2B 0.1%	$7.2B
Operating Lease Liabilities Noncurrent	$822.0M -6.5%	$879.0M -5.0%	$925.0M 128.4%	$405.0M -1.0%	$409.0M
Other Noncurrent Liabilities	$1.3B -1.8%	$1.4B -8.0%	$1.5B 32.5%	$1.1B -16.2%	$1.3B
Total Liabilities	$2.9B	—	—	—	—
Equity
Additional Paid In Capital	$7.6B -1.0%	$7.7B -7.0%	$8.3B -9.3%	$9.1B -3.8%	$9.5B
Retained Earnings	$4.5B 42.7%	$3.1B 38.3%	$2.3B -7.8%	$2.5B 24.2%	$2.0B
Accumulated Other Comprehensive Income	$-124.0M -15.9%	$-107.0M 28.2%	$-149.0M 34.1%	$-226.0M 28.9%	$-318.0M
Noncontrolling Interest	$105.0M 5.0%	$100.0M 49.3%	$67.0M 86.1%	$36.0M 1700.0%	$2.0M
Total Stockholders Equity	$12.0B 11.6%	$10.7B 3.2%	$10.4B -8.5%	$11.3B 1.9%	$11.1B
Total Liabilitiesand Equity	$23.2B	—	—	—	—

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	$16.3B 16.6%	$14.0B -6.3%	$14.9B 6.7%	$14.0B 8.3%	$12.9B
Expenses Selling,General and Administrative	$2.2B 7.1%	$2.0B -1.2%	$2.0B 6.7%	$1.9B 6.3%	$1.8B
Expenses Depreciation and Amortization	$385.0M -1.0%	$389.0M -5.4%	$411.0M 13.2%	$363.0M 21.0%	$300.0M
Expenses Share Based Compensation	$135.0M	—	—	—	—
Expenses Restructuring and Asset Impairment	$35.0M 169.2%	$13.0M -88.3%	$111.0M	$0 -100.0%	$35.0M
Expenses Operating Expenses	$10.5B 15.7%	$9.1B -6.2%	$9.7B 6.3%	$9.1B 13.4%	$8.0B
Other Income Expense Interest Income	$176.0M -6.9%	$189.0M 44.3%	$131.0M 2083.3%	$6.0M 50.0%	$4.0M
Other Income Expense Interest Expense	$403.0M -0.5%	$405.0M 16.0%	$349.0M -7.4%	$377.0M -4.6%	$395.0M
Other Income Expense Other Income/expense	$438.0M	—	—	—	—
Other Income Expense Income Before Tax	$3.1B 45.5%	$2.1B 21.2%	$1.7B 2.5%	$1.7B -41.9%	$2.9B
Income Tax Income Tax Expense	$768.0M 39.6%	$550.0M 13.9%	$483.0M 4.8%	$461.0M -35.7%	$717.0M
net Income net Income	$2.3B 47.6%	$1.6B 24.0%	$1.3B 1.6%	$1.2B -44.0%	$2.2B
net Income Comprehensive Income	$2.2B 45.6%	$1.5B 17.2%	$1.3B 1.5%	$1.3B -42.3%	$2.2B
Earnings Per Share Basic Eps	$5 58.3%	$3 34.2%	$2 9.9%	$2 -41.5%	$4
Earnings Per Share Diluted Eps	$5 56.9%	$3 34.3%	$2 10.4%	$2 -41.6%	$4
Earnings Per Share Weighted Average Shares Diluted	$461.0M -4.0%	$480.0M -9.6%	$531.0M -6.8%	$570.0M -4.2%	$595.0M

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	$2.3B 47.6%	$1.6B 24.0%	$1.3B 1.6%	$1.2B -44.0%	$2.2B
Operating Activities Depreciation and Amortization	$385.0M -1.0%	$389.0M -5.4%	$411.0M 13.2%	$363.0M 21.0%	$300.0M
Operating Activities Stock Based Compensation	$135.0M 50.0%	$90.0M 21.6%	$74.0M -27.5%	$102.0M -30.6%	$147.0M
Operating Activities Deferred Income Taxes	$164.0M -19.2%	$203.0M -36.8%	$321.0M -6.1%	$342.0M -36.0%	$534.0M
Operating Activities net Cash From Operating Activities	$3.3B 80.7%	$1.8B 2.2%	$1.8B -4.5%	$1.9B -28.6%	$2.6B
Investing Activities Capital Expenditures	$331.0M -4.1%	$345.0M -3.4%	$357.0M 16.3%	$307.0M -36.6%	$484.0M
Investing Activities Business Acquisitions	$97.0M	—	—	—	—
Investing Activities Purchases of Investments	$79.0M	—	—	—	—
Investing Activities Other Investing Activities	$30.0M 650.0%	$4.0M -85.2%	$27.0M 50.0%	$18.0M	$0
Investing Activities net Cash From Investing Activities	$-537.0M -18.8%	$-452.0M -3.2%	$-438.0M 14.6%	$-513.0M 2.8%	$-528.0M
Financing Activities Proceeds From Debt	$0 -100.0%	$1.2B	$0	$0	$0
Financing Activities Repayment of Debt	$600.0M -52.0%	$1.2B	$0 -100.0%	$750.0M	$0
Financing Activities Repurchase of Common Stock	$1.0B	—	—	—	—
Financing Activities Dividends Paid	$277.0M -1.4%	$281.0M -6.0%	$299.0M -2.6%	$307.0M -7.0%	$330.0M
Financing Activities Proceeds From Stock Issuance	$171.0M	—	—	—	—
Financing Activities Other Financing Activities	$122.0M 390.5%	$-42.0M -61.5%	$-26.0M -4.0%	$-25.0M 45.7%	$-46.0M
Financing Activities net Cash From Financing Activities	$-1.8B -30.9%	$-1.3B 41.4%	$-2.3B -11.3%	$-2.1B -136.4%	$-870.0M
Cash Reconciliation Effect of Exchange Rate On Cash	$5.4B	—	—	—	—
Cash Reconciliation net Change In Cash	$1.0B 2095.7%	$47.0M 105.1%	$-928.0M -35.3%	$-686.0M -155.3%	$1.2B
Cash Reconciliation Cash At Beginning of Period	$5.4B 23.9%	$4.3B 1.1%	$4.3B -17.8%	$5.2B -11.7%	$5.9B
Cash Reconciliation Cash At End of Period	$5.4B 23.9%	$4.3B 1.1%	$4.3B -17.8%	$5.2B -11.7%	$5.9B

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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