Fox Corporation (Class A) (FOXA)
Communication Services · $25.7B market cap · SEC CIK 0001754301
fundamentals score out of 100
Next reports on Oct 28, 2026, with analysts expecting $2.10 in earnings per share.
The case for FOXA
- Generated $3.0B of free cash flow in FY2025, 18% of revenue.
- Free cash flow of 11.7% of its market value a year: a lot of cash for the price.
- Reasonably priced at 15.2× earnings.
- Moves less than the market (beta 0.65).
- Current assets cover the near-term bills 3.2 times over.
- Pays a modest 1.7% dividend.
The case against
- Earnings per share down 21.8%.
- Its weakest area is growth (36/100): revenue +5.1%, EPS -21.8%, +5.8% a year over five years.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Communication Services companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 77 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 36 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 63 |
| Momentumhow the price has behaved lately | 67 |
| Stabilityhow violently it moves, what it owes and what it pays you | 73 |
- Each factor except momentum is half fixed thresholds, half rank among the 19 Communication Services companies.
Key numbers
| Price / earnings | 15.2× |
|---|---|
| Price / book | 1.78× |
| Price / sales | 1.5× |
| Revenue growth (YoY) | +5.1% |
| EPS growth (YoY) | -21.8% |
| Gross margin | 37% |
| Operating margin | 20% |
| Net margin | 10% |
| Return on equity | 15% |
| Debt / equity | 0.57× |
| Current ratio | 3.17 |
| Dividend yield | 1.71% |
| Beta | 0.65 |
| 52-week range | $48.34 – $76.39 |
| Position in that range | 57% of the way up |
| 3-month return | +24.0% |
| 1-year return | +6.9% |
Five years of financials, as filed
Pulled from Fox Corporation (Class A)'s XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $16.3B | $14.0B | $14.9B | $14.0B | $12.9B |
| Net income | $2.3B | $1.5B | $1.2B | $1.2B | — |
| Operating cash flow | $3.3B | $1.8B | $1.8B | $1.9B | $2.6B |
| Capital expenditure | $331M | $345M | $357M | $307M | $484M |
| Total assets | $21.5B | $23.0B | $22.8B | $23.1B | $22.9B |
| Shareholder equity | $10.9B | $11.5B | $10.3B | $11.6B | $11.3B |
| Cash | $2.0B | $3.3B | $4.1B | $4.1B | $4.3B |
| Long-term debt | $6.6B | $6.6B | $7.2B | $7.2B | $7.2B |
| Free cash flow | $3.0B | $1.5B | $1.4B | $1.6B | $2.2B |
| Net margin | 13.9% | 10.7% | 8.3% | 8.6% | — |
| Diluted shares | 461M | 480M | 531M | 570M | 595M |
Share count is down 22.5% over 4 years. Buybacks have been shrinking the pie.
What Fox Corporation (Class A) says it does
Background The Company is a news, sports and entertainment company, which manages and reports its businesses in four operating segments: Cable Network Programming, Television, Credible and the FOX Studio Lot with the following two reportable segments: • Cable Network Programming , which produces and licenses news and sports content distributed through traditional cable television systems, direct broadcast satellite operators and telecommunication companies ("traditional MVPDs"), virtual multi-channel video programming distributors ("virtual MVPDs") and other digital platforms, primarily in the U.S. • Television , which produces, acquires, markets and distributes programming through the FOX broadcast network, advertising-supported video-on-demand ("AVOD") service Tubi, 29 full power broadcast television stations, including 11 duopolies, and other digital platforms, primarily in the U.S. Eighteen of the broadcast television…
Risk factors FOXA lists in its 10-K
- Risks Related to the Roku Transaction
- The Roku Transaction may not be completed or may be delayed if the closing conditions in the Merger Agreement are not satisfied, and the Merger Agreement may be terminated in accordance with its terms
- Entry into the Merger Agreement could have a variety of negative impacts on FOX and the market prices of the Common Stock
- Business uncertainties and contractual restrictions on FOX while the Merger is pending could adversely affect FOX’s business and operations
- The market price of the Common Stock may decline as a result of the Merger
- The Company or its Board of Directors may be the target of Merger-related lawsuits that result in substantial costs or delay or prevent the completion of the Merger
- The Company may be unable to successfully integrate the businesses of FOX and Roku and realize the anticipated benefits of the Merger
- FOX’s post-Merger indebtedness may have a significant negative impact on its business, financial condition or results of operations
- Risks Related to Macroeconomic Conditions, Our Business and Our Industry
- If the number of subscribers to MVPD services continues to decline or such declines accelerate, the Company’s distribution and advertising revenues could be negatively affected
- The Company is exposed to risks associated with weak economic conditions and increased volatility and disruption in the financial markets
- The Company operates in a rapidly evolving and highly competitive industry
- Acceptance of the Company's content by the public is difficult to predict, which could lead to fluctuations in or adverse impacts on revenues
- Our business depends on the popularity of special sports events and the continued popularity of the sports leagues and teams for which we have programming rights