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FOXA

Fox Corporation

FOXA

Fox Corporation • NASDAQ
$65.50 ▲ 0.69% (+0.45)
Market Cap $29.57 B
52w High $67.22
52w Low $45.78
Dividend Yield 0.55%
P/E 14.72
Volume 1.15M
Outstanding Shares 451.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $3.738B ▲ $2.187B ▲ $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 ▼ $-255M ▼ $-598M ▲ $-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 Q1-2025Q2-2025Q3-2025Q4-2025
Cable Network Programming Segment
Cable Network Programming Segment
 $1.60Bn ▲$2.17Bn ▲$1.64Bn ▼$1.53Bn ▼
Television Segment
Television Segment
 $1.95Bn ▲$2.96Bn ▲$2.70Bn ▼$1.71Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Fox’s income statement shows a business that is both growing and consistently profitable. Revenue has trended upward over the last several years, helped by strong positions in news, sports, and digital platforms like Tubi. Operating profit and EBITDA have held up well, indicating that Fox can turn its sales into solid underlying earnings even as the media landscape shifts. Earnings did dip a couple of years ago but have since recovered meaningfully, with recent results showing stronger profitability per share. This pattern fits a company exposed to advertising cycles, political news cycles, and big sports contracts: results can be lumpy year to year, but the overall trajectory has been positive. The main risks on the income side are ongoing pressure on traditional TV, rising sports rights costs, and the need to keep investing in streaming and technology while maintaining margins. Still, the track record suggests Fox has been able to manage these pressures reasonably well so far.

Balance Sheet

Balance Sheet Fox’s balance sheet looks relatively solid and balanced. The company carries a meaningful amount of debt, but it is paired with a sizable cash position and a healthy base of shareholder equity. Over time, total assets have been stable to slightly higher, while equity has grown, which points to value being built rather than eroded. The mix of strong brands, long-term content rights, and cash reserves gives Fox room to navigate industry disruptions and fund new initiatives. Debt levels are not trivial, but they appear manageable in the context of the company’s earnings power and cash generation. One thing not directly visible in the numbers is the long-term commitment to sports and content rights, which function like off-balance-sheet obligations. These are an important strategic asset but also a structural financial commitment that needs careful long-term planning.

Cash Flow

Cash Flow Fox’s cash flow profile is a clear strength. The company has consistently generated healthy cash from its operations, and after funding its capital spending needs, it has regularly produced positive free cash flow. Investment in physical assets has remained relatively modest compared with the cash coming in. This strong cash conversion means Fox has had flexibility: it can service debt, return capital to shareholders, and still have room to invest in content, technology, and streaming growth. The pattern suggests that reported earnings are backed by real cash, not just accounting profits. Looking ahead, major sports contracts, technology build-outs, and the push into direct-to-consumer streaming could increase cash demands. The current track record, however, shows a business accustomed to funding sizable commitments from internal cash generation rather than relying heavily on new borrowing.

Competitive Edge

Competitive Edge Fox’s competitive position is built around live news and live sports, two categories that remain highly valuable even as traditional TV viewing declines. Fox News and Fox Sports are deeply entrenched brands with loyal audiences, which gives the company negotiating power with advertisers and distributors. The focus on live events helps shield Fox from some of the pressures that on-demand entertainment faces, since viewers still seek out real-time coverage of news and big games. On top of this, Tubi has emerged as a strong foothold in the free, ad-supported streaming market, especially appealing to younger, price-sensitive viewers who are drifting away from cable. That said, Fox faces intense competition on multiple fronts: streaming giants for consumer attention, rival news outlets for audience share, and other networks and tech platforms in bidding wars for sports rights. Political polarization and regulatory scrutiny can also affect the news business. The moat is real, but it must be defended continuously through content quality, rights renewals, and digital execution.

Innovation and R&D

Innovation and R&D Fox is actively using technology and innovation to reinforce its core strengths. In sports, it has experimented with unique camera angles, on-field audio, and advanced production techniques that make live games more immersive. These enhancements help differentiate Fox’s broadcasts and can support premium advertising. Across news and sports, Fox is leaning into artificial intelligence to improve content discovery and advertising. AI tools help tag and search decades of video archives, personalize content, and enable more targeted, data-driven ad placements. This can improve both user experience and monetization. On the streaming side, Tubi is a key innovation in business model—free and ad-supported rather than subscription-based. The planned launch of a broader direct-to-consumer service (often referred to as Fox One) and the creation of a technology hub in India show Fox is trying to build its own digital and engineering capabilities rather than fully relying on third parties. The opportunity is significant, but there is real execution risk: the streaming market is crowded, and technology investments take time to pay off.

Summary

Overall, Fox looks like a financially solid media company anchored by strong franchises in live news and sports and supported by healthy cash generation. Revenues and earnings have generally improved over time, the balance sheet is reasonably robust, and free cash flow has been consistently positive, giving the company room to invest and adapt. Strategically, Fox has doubled down on areas of the media business that still command real-time viewership and premium advertising, while using Tubi and upcoming direct-to-consumer offerings to participate in the streaming shift without fully mimicking subscription-heavy models. Its growing use of AI, digital platforms, and enhanced production technology shows a willingness to evolve. Key things to watch include: how well Fox manages the decline of traditional TV bundles, its ability to keep renewing critical sports rights at sustainable costs, the growth and monetization of Tubi, and the success of the planned streaming service. Advertising cycles, political cycles, and regulatory or reputational issues can create volatility, but the current financial and strategic profile reflects a business with meaningful strengths and clear, if challenging, paths for future growth.

NEWS

October 30, 2025 · 9:39 AM UTC

Tubi Media Group and Audiochuck Announce Exclusive Partnership

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October 30, 2025 · 7:30 AM UTC

FOX REPORTS FIRST QUARTER FISCAL 2026 REVENUES OF $3.74 BILLION, NET INCOME OF $609 MILLION, AND ADJUSTED EBITDA OF $1.07 BILLION

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October 13, 2025 · 12:00 PM UTC

Fox Corporation Executives to Discuss First Quarter Fiscal 2026 Financial Results Via Webcast

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September 8, 2025 · 8:45 PM UTC

FOX CORPORATION ANNOUNCES PRICING OF SECONDARY OFFERING OF CLASS B COMMON STOCK

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September 8, 2025 · 4:10 PM UTC

FOX CORPORATION ANNOUNCES SECONDARY OFFERING OF CLASS B COMMON STOCK

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