Fox Corp

Industrials
Broadcasting
www.foxcorporation.com

Earnings Score
Moat Score
Safety Score

Market Cap $21.67B
PE 11
Debt $7.80B
Cash $4.05B
EV $25.41B
FCF $1.66B

Earnings

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Sales & Net Margins

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Earnings	$1.92B
EBIT	$2.66B
ROE	17%
ROA	12%
FCF	$1.66B
Equity	$11.38B
Growth Stability	58%
PE	11.28
PEG	-3.01
PB	1.9
P/FCF	13.06
P/S	1.51
Price/Cash	0.19
Debt/Equity	0.69
Debt/FCF	4.7
Net Margins	23%
Op. Margins	19%
Earnings CAGR	-6%
Sales Growth YoY	11%
Sales Growth QoQ	15%
Sales CAGR	6%
FCF CAGR	-4%
Equity CAGR	5%
Earnings Stability	-0.12
Earnings Growth YoY	103%
Earnings Growth QoQ	159%
Earnings CAGR 5Y	-4%

Sales CAGR 5Y	5%
FCF CAGR 5Y	-10%
Equity CAGR 5Y	1%
Earnings CAGR 3Y	1%
Sales CAGR 3Y	1%
FCF CAGR 3Y	-5%
Equity CAGR 3Y	-2%
Market Cap	$21.67B
Revenue	$14.34B
Dividend Yield	1%
Payout Ratio	14%
Assets	$22.54B
Total Debt	$7.80B
Cash	$4.05B
Shares Outstanding	461M
EV	25.41B
Earnings Score	6%
Moat Score	95%
Safety Score	72%
Final Score	57%
Working Capital	4.79B
Current Ratio	2.59
Shares Growth 3y	-8%
Equity Growth QoQ	5%
Equity Growth YoY	9%

Assets & ROA

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Stockholders Equity & ROE

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Fox represents the assets not sold to Disney by the predecessor firm, Twenty First Century Fox. The remaining assets include Fox News, the FOX broadcast network, FS1 and FS2, Fox Business, Big Ten Network, 28 owned and operated local television stations of which 17 are affiliated with the Fox Network, and the Fox Studios lot. The Murdoch family continues to control the successor firm, which represents a large-scale bet on the value of live sports and news in the U.S. market.

SEC Filings

Direct access to Fox Corp (FOXA) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31
2023
- 10-Q Dec 31
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31
2022
- 10-Q Dec 31
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31

Sector Comparison

How does Fox Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Fox Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -6%

Stability -12%

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Fox Corp Discounted Cash Flow

Fully customizable DCF calculator online for Fox Corp.

Years

Calculation mode

= $12B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$1.7B	$1.6B	$1.5B	$1.4B	$1.4B	$1.3B	$1.3B	$1.2B	$1.2B	$1.1B	$1.1B	$11B
DCF		$1.4B	$1.3B	$1.1B	$947M	$823M	$715M	$621M	$540M	$469M	$408M	$4.1B
Value	$12B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	TTM
Net Margins	14%	22%	14%	8%	17%	9%	8%	11%	23%
ROA	-	17%	11%	7%	13%	8%	8%	10%	12%
ROE	-	23%	16%	10%	19%	11%	12%	14%	17%

Good Net Margins (23.2%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	TTM
Debt over FCF	-	0	2.97	3.99	4.06	4.6	5.89	5.25	4.7
Debt over Equity	-	0	0.68	0.79	0.79	0.64	0.81	0.73	0.69
Growth Stability	-	-	-	58%	100%	76%	85%	98%	58%

Bad Debt/FCF ratio (4.7)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.69)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (58%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	CAGR 5Y
Revenue YoY growth	-	2%	12%	8%	5%	8%	7%	-6%	5%
Earnings YoY growth	-	59%	-27%	-37%	115%	-44%	3%	21%	-4%
Equity YoY growth	-	57%	4%	2%	10%	2%	-8%	4%	1%
FCF YoY growth	-	-25%	108%	-12%	7%	-27%	-8%	4%	-10%