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FOX

Fox Corporation

FOX

Fox Corporation • NASDAQ
$58.26 ▲ 0.24% (+0.14)
Market Cap $26.30 B
52w High $60.73
52w Low $43.18
Dividend Yield 0.55%
P/E 13.09
Volume 790.26K
Outstanding Shares 451.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $3.738B ▲ $589M ▼ $599M ▼ 16.025% ▼ $1.34 ▼ $947M ▼
Q4-2025 $3.287B ▼ $590M ▲ $717M ▲ 21.813% ▲ $1.57 ▲ $1.151B ▲
Q3-2025 $4.371B ▼ $551M ▲ $346M ▼ 7.916% ▲ $0.76 ▼ $663M ▼
Q2-2025 $5.078B ▲ $525M ▲ $373M ▼ 7.345% ▼ $0.82 ▼ $729M ▼
Q1-2025 $3.564B $502M $827M 23.204% $1.79 $1.306B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $4.368B ▼ $22.766B ▼ $10.374B ▼ $12.208B ▲
Q4-2025 $5.351B ▲ $23.195B ▼ $10.84B ▼ $11.962B ▲
Q3-2025 $4.815B ▲ $23.367B ▲ $11.501B ▲ $11.526B ▲
Q2-2025 $3.322B ▼ $23.022B ▲ $11.211B ▲ $11.495B ▲
Q1-2025 $4.052B $22.538B $10.96B $11.276B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $599M ▼ $-130M ▼ $-463M ▼ $-390M ▲ $-983M ▼ $-234M ▼
Q4-2025 $719M ▲ $1.513B ▼ $-130M ▲ $-847M ▼ $536M ▼ $1.394B ▼
Q3-2025 $354M ▼ $2.015B ▲ $-167M ▼ $-355M ▼ $1.493B ▲ $1.941B ▲
Q2-2025 $388M ▼ $-362M ▼ $-162M ▼ $-206M ▲ $-730M ▼ $-436M ▼
Q1-2025 $832M $158M $-78M $-347M $-267M $94M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Cable Network Programming Segment
Cable Network Programming Segment
 $2.17Bn ▲$1.64Bn ▼$1.53Bn ▼$1.66Bn ▲
Television Segment
Television Segment
 $2.96Bn ▲$2.70Bn ▼$1.71Bn ▼$2.05Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Fox’s revenue has trended upward over the past several years, with only a brief soft patch before returning to growth most recently. Profitability looks solid: operating income and earnings have generally held up, even as the company invests in sports rights, news, and streaming. Net income and earnings per share dipped a few years ago but have since recovered strongly, suggesting better cost control and more efficient monetization of content. That said, profits remain somewhat uneven year to year, which is typical for a business tied to sports cycles, advertising markets, and occasional legal or one‑off items.

Balance Sheet

Balance Sheet Fox carries a sizable but manageable debt load, balanced by a strong equity base and a healthy cash cushion. Total assets have stayed fairly steady, while shareholders’ equity has gradually increased, which points to value being built over time rather than eroded. Cash levels are solid and give the company room to navigate downturns, invest in growth areas, and handle big commitments like sports rights. Overall, the balance sheet looks sound, though the company remains dependent on ongoing cash generation to comfortably service its obligations and renew key content deals.

Cash Flow

Cash Flow Fox consistently generates cash from its operations, with one weaker period followed by a clear rebound more recently. Free cash flow, after accounting for relatively modest capital spending, has been strong, reflecting a business that is not especially capital‑intensive. This provides financial flexibility to fund new products, pursue acquisitions, and return capital if management chooses. The main risk is that continued investment in streaming, sports rights, and technology will need to be carefully balanced against maintaining this healthy cash flow profile.

Competitive Edge

Competitive Edge Fox’s competitive strength rests on three pillars: live news, live sports, and recognizable brands. FOX News remains a dominant and highly loyal destination in cable news, providing steady affiliate and advertising income, though it also brings reputational and regulatory sensitivity. FOX Sports holds coveted rights in major leagues and global events, which draw large live audiences that advertisers value and rivals find hard to replicate. Around this, Fox has built a growing digital ecosystem, most notably through Tubi in free, ad‑supported streaming. The company does, however, face intense competition from larger media and tech platforms, ongoing cord‑cutting, rising sports rights costs, and the challenge of not over‑relying on a relatively concentrated set of flagship brands.

Innovation and R&D

Innovation and R&D Fox’s “R&D” is less about labs and more about technology, data, and new media formats. The OneFOX platform and its AdRise technology aim to make advertising more targeted and effective across both traditional TV and digital, which could boost ad yields if executed well. Tubi is a key growth engine in free, ad‑supported streaming, tapping into viewers who resist paying for multiple subscriptions. Newer initiatives like FOX One (a direct‑to‑consumer bundle for news, sports, and entertainment), FOX Nation, and targeted acquisitions in podcasting, vertical video, and international sports all signal a push to modernize the business and reach younger and cordless audiences. The opportunity is meaningful, but so is the execution risk: Fox must scale these digital products profitably without undermining its traditional TV economics.

Summary

Fox looks like a mature media company that is still generating solid profits and cash, while actively trying to reinvent itself for a streaming and digital future. Financially, the core business remains resilient, with improving earnings and strong free cash flow supporting a sturdy balance sheet. Strategically, Fox leans on its powerful live news and sports franchises while pushing into ad‑supported streaming, direct‑to‑consumer offerings, and advanced advertising technology. The central questions going forward are whether Fox can grow its digital platforms fast enough and profitably enough, manage the escalating cost of sports rights, and navigate political, regulatory, and competitive pressures around its news and sports brands. The company has financial flexibility and clear strategic pillars, but future outcomes will depend heavily on execution in streaming and ad tech, and on maintaining the appeal of its flagship properties in a rapidly changing media landscape.

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