Fox Corporation FOX

Communication ServicesMedia & PublishingUnited States of America

Last close 55.96 USD on Nov 2, 2026, −12.9% year to date

Quant rating

Quant rating A Rank 15 of 135 in Communication Services

Growth C 68 of 135
Valuation B 49 of 135
Quality A 16 of 135
Revisions C 55 of 135
Momentum B 51 of 135

Wall Street consensus Buy (2.23)Average target 78.90 USD +41.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 25.0B
Enterprise value: 27.6B
52-week range: 44.12 – 68.14
3-year range: 25.90 – 68.14
Dividend yield: 1.03%
Beta (5 years): 0.66
Shares outstanding: 422M
Next earnings: Nov 2, 2026

About the company

Fox Corporation produces and distributes news, sports, and entertainment content through its primary domestic brands, including FOX Sports, Tubi Media Group, FOX Entertainment and FOX Television Stations. Its operating segments include Cable Network Programming, Television, Credible and the FOX Studio Lot. Cable Network Programming produces and licenses news and sports content distributed through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors (virtual MVPDs) and other digital platforms. Television produces, acquires, markets and distributes programming through the FOX broadcast network, advertising supported video-on-demand service Tubi, approximately 29 full power broadcast television stations, including 11 duopolies, and other digital platforms. The FOX Studio Lot provides television and film production services. Credible is a United States consumer finance marketplace.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	17,126	16,300	13,980	14,913	13,974	–
Revenue growth	5.1%	16.6%	−6.3%	6.7%	8.3%	5.8%
EPS (basic, normalized)	5.42	4.78	3.43	3.51	2.79	–
EPS growth	13.4%	39.4%	−2.3%	25.8%	–	–
Gross margin	36.6%	35.5%	35.0%	35.0%	34.8%	35.4%
Net margin	9.8%	13.9%	10.7%	8.3%	8.6%	10.3%
ROE	14.3%	20.0%	14.2%	11.4%	10.7%	14.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	4,536
Current ratio	3.17x
Long-term debt (mil)	6,606
Net debt (mil)	2,587
Total equity (mil)	12,466
Net debt / equity	0.21x
Net debt / EBITDA	0.66x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	17,126	+5.1%	1.6x	3,906	+12.5%	7.1x	5.42	+13.4%	10.3x
2027	17,738	+3.6%	1.6x	4,143	+6.1%	6.7x	6.00	+10.7%	9.3x
2028	17,705	−0.2%	1.6x	3,885	−6.2%	7.1x	5.86	−2.4%	9.6x
2029	19,140	+8.1%	1.4x	4,200	+8.1%	6.6x	6.72	+14.7%	8.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	17,738	+0.5%	+1.9%	+4.3%	6.00	+0.9%	+4.4%	+16.8%
2028	17,705	+0.7%	+1.3%	+3.5%	5.86	+0.6%	+1.7%	+15.8%
2029	19,140	+0.7%	+4.4%	+5.3%	6.72	+3.2%	−4.5%	+33.2%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	3,447	3,092	3,564	5,078	4,371	3,287	3,738	5,182	3,994	4,212
Sales mean (mil)	3,446	3,099	3,374	4,848	4,180	3,121	3,570	5,058	3,816	3,643
Surprise	0.0%	−0.2%	+5.6%	+4.7%	+4.6%	+5.3%	+4.7%	+2.4%	+4.7%	+15.6%
EPS reported	1.09	0.90	1.45	0.96	1.10	1.27	1.51	0.82	1.32	1.79
EPS mean	0.96	0.81	1.11	0.67	0.91	0.99	1.08	0.50	0.97	1.42
Surprise	+13.6%	+11.0%	+30.3%	+44.3%	+20.3%	+28.4%	+40.1%	+65.0%	+36.6%	+25.7%

Peer comparison Media & Publishing

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
FOX Fox Corporation	25.0B	0.66x	9.8%	2.26x	9.3x	9.6x	6.7x	7.1x
TKO TKO Group Holdings Inc	35.0B	5.85x	4.1%	10.38x	41.6x	31.5x	19.3x	18.2x
PUBGY Publicis Groupe S.A.	28.7B	–	9.5%	2.40x	12.8x	11.5x	8.6x	7.7x
FOXA Fox Corporation	25.0B	0.66x	9.8%	2.26x	10.5x	10.7x	6.7x	7.1x
ROKU Roku, Inc.	23.1B	−6.08x	1.9%	8.18x	55.6x	40.8x	27.2x	22.0x
OMC Omnicom Group Inc	22.9B	2.41x	−0.3%	2.30x	8.3x	7.4x	6.7x	6.3x
Mean		0.70x	5.8%	4.63x	23.0x	18.6x	12.5x	11.4x
Median		0.66x	6.8%	2.35x	11.6x	11.1x	7.6x	7.4x

Technical analysis

1M+0.1%
3M+8.3%
1Y−3.2%
3Y+104.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Fox Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	17,126	16,300	13,980	14,913	13,974	12,909
Cost of revenue	10,853	10,518	9,089	9,689	9,117	8,037
Gross profit	6,273	5,782	4,891	5,224	4,857	4,872
Selling, general & administrative expenses	2,367	2,168	2,024	2,049	1,920	1,807
Research & development	–	–	–	–	–	–
Depreciation/amortization	410	385	389	411	363	300
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	151	350	67.0	1,177	150	−322
Other operating expenses	0	0	0	0	0	0
Operating income	3,345	2,879	2,411	1,587	2,424	3,087
Net interest income (expense)	−1,055	193	−449	185	−757	−133
Gain (loss) on sale of assets	–	0	166	–	–	–
Other non-operating income (expense)	−12.0	−11.0	−24.0	−36.0	27.0	−36.0
Net income before taxes	2,278	3,061	2,104	1,736	1,694	2,918
Provision for taxes	551	768	550	483	461	717
Minority interest	−42.0	−30.0	−53.0	−14.0	−28.0	−51.0
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1,685	2,263	1,501	1,239	1,205	2,150
Extraordinary items	–	–	–	–	–	–
Net income	1,685	2,263	1,501	1,239	1,205	2,150
EBIT, normalized	3,496	3,229	2,478	2,764	2,574	2,765
EBITDA, normalized	3,906	3,614	2,867	3,175	2,937	3,065
Basic EPS, normalized	5.42	4.78	3.43	3.51	2.79	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Fox Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	4,205	5,351	4,319	4,272	5,200	5,886
Receivables	3,455	2,472	2,364	2,177	2,128	2,029
Total inventory	487	432	626	543	791	729
Prepaid expenses	–	–	–	–	–	–
Other current assets	306	174	192	265	162	105
Total current assets	8,453	8,429	7,501	7,257	8,281	8,749
Property, plant & equipment	2,693	2,519	2,600	2,655	2,159	2,177
Goodwill	3,647	3,639	3,544	3,559	3,554	3,435
Intangibles	2,870	2,969	3,038	3,084	3,157	3,154
Long-term investments	965	1,621	1,129	1,034	578	899
Note receivable	–	–	–	–	–	–
Other long-term assets	3,854	4,018	4,160	4,277	4,456	4,512
Total assets	22,482	23,195	21,972	21,866	22,185	22,926
Liabilities
Accounts payable	801	1,070	683	785	686	659
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,249	1,122	1,082	1,100	1,099	1,169
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	0	599	1,249	0	749
Other current liabilities	617	705	588	629	511	425
Total current liabilities	2,667	2,897	2,952	3,763	2,296	3,002
Long-term debt	6,606	6,602	6,598	5,961	7,206	7,202
Minority interest	186	393	342	280	224	263
Other liabilities	1,395	1,341	1,366	1,484	1,120	1,336
Total liabilities	10,854	11,233	11,258	11,488	10,846	11,803
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	4.0	4.0	4.0	5.0	6.0	6.0
Additional paid-in capital	7,274	7,603	7,678	8,253	9,098	9,453
Retained earnings (accumulated deficit)	4,457	4,479	3,139	2,269	2,461	1,982
Treasury stock	–	–	–	–	–	–
Other equity	−107	−124	−107	−149	−226	−318
Total equity	11,628	11,962	10,714	10,378	11,339	11,123
Total liabilities & shareholders' equity	22,482	23,195	21,972	21,866	22,185	22,926

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Fox Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	1,727	2,293	1,554	1,253	1,233	2,201
Depreciation, depletion & amortization	410	385	389	411	363	300
Deferred taxes	271	164	203	321	342	534
Non-cash items	1,108	16.0	264	85.0	629	−375
Changes in working capital	−1,546	466	−570	−270	−683	−21.0
Cash from operations	1,970	3,324	1,840	1,800	1,884	2,639
Investing activities
Capital expenditures	−502	−331	−345	−357	−307	−484
Other investing cash flows	−203	−206	−107	−81.0	−206	−44.0
Cash from investing	−705	−537	−452	−438	−513	−528
Financing activities
Financing cash flow items	−124	122	−42.0	9.0	0	461
Cash dividends paid	−287	−277	−281	−299	−307	−330
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−2,000	−1,600	−1,018	−2,000	−1,750	−1,001
Cash from financing	−2,411	−1,755	−1,341	−2,290	−2,057	−870
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−1,146	1,032	47.0	−928	−686	1,241
Free cash flow	1,468	2,993	1,495	1,443	1,577	2,155

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.