Fox Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Fox Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	9,921	10,153	11,389	12,303	12,909	13,974	14,913	13,980	16,300	17,126
Selling, general and administrative	1,092	1,209	1,419	1,741	1,807	1,920	2,049	2,024	2,168	2,367
Interest expense	23	43	203	369	395	377	349	405	403	401
Interest income	0	0	41	35	4	6	131	189	176	127
Other non-operating income	-131	-39	-19	-248	579	-356	368	-47	438	-773
Pre-tax income	2,241	2,170	2,224	1,464	2,918	1,694	1,736	2,104	3,061	2,278
Income tax	832	-58	581	402	717	461	483	550	768	551
Net income to minority interests	37	41	48	63	51	28	14	53	30	42
Net income	1,372	2,187	1,595	999	2,150	1,205	1,239	1,501	2,263	1,685
EPS, basic	2.21	3.52	2.57	1.63	3.64	2.13	2.34	3.14	4.97	3.91
EPS, diluted	2.21	3.52	2.57	1.62	3.61	2.11	2.33	3.13	4.91	3.84
Shares, basic (weighted)	621	621	621		621
Shares, diluted (weighted)	621	621	621	616	595	570	531	480	461	439

Balance sheet

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	19	2,500	3,234	4,645	5,886	5,200	4,272	4,319	5,351	4,205
Receivables		1,833	1,967	1,888	2,029	2,128	2,177	2,364	2,472	3,455
Inventory		1,180	1,129	856	729	791	543	626	432	487
Other current assets		67	148	97	105	162	265	192	174	306
Total current assets		5,580	6,478	7,486	8,749	8,281	7,257	7,501	8,429	8,453
Property, plant and equipment		1,169	1,313	1,498	1,708	1,682	1,708	1,696	1,705	1,842
Lease right-of-use assets			0	539	469	477	947	904	814	851
Goodwill		2,747	2,691	3,409	3,435	3,554	3,559	3,544	3,639	3,647
Intangible assets		2,866	2,851	3,198	3,154	3,157	3,084	3,038	2,969	2,870
Long-term investments		275	865	618	899	578	1,034	1,129	1,621	965
Other non-current assets		759	1,525	1,801	2,058	2,071	3,168	3,315	3,732	3,227
Total assets		13,121	19,509	21,750	22,926	22,185	21,866	21,972	23,195	22,482
Accounts payable				1,906	2,253	2,296	2,514	2,353	2,897	2,667
Accrued liabilities		530	835	907	1,077	992	1,028	1,006	1,081	1,204
Deferred revenue		147	169	152	196	209	160	180	299	272
Short-term debt				0	749	0	1,249	599	0
Total current liabilities		1,759	1,712	1,906	3,002	2,296	3,763	2,952	2,897	2,667
Long-term debt		0	6,751	7,946	7,202	7,206	5,961	6,598	6,602	6,606
Lease liabilities			0	452	409	405	925	879	822	917
Other non-current liabilities		422	899	1,482	1,336	1,120	1,484	1,366	1,341	1,395
Total liabilities		3,527	9,551	11,639	11,801	10,810	11,421	11,158	11,128	10,754
Total debt		0	6,751	7,946	7,951	7,206	7,210	7,197	6,602	6,606
Paid-in capital		0	9,891	9,831	9,453	9,098	8,253	7,678	7,603	7,274
Retained earnings		0	357	674	1,982	2,461	2,269	3,139	4,479	4,457
Other comprehensive income	-59	81	-308	-417	-318	-226	-149	-107	-124	-107
Shareholders' equity		9,594	9,947	10,094	11,123	11,339	10,378	10,714	11,962	11,628
Minority interests		0	11	17	2	36	67	100	105	100
Total equity	6,093	9,594	9,958	10,111	11,125	11,375	10,445	10,814	12,067	11,728
Total liabilities and equity		13,121	19,509	21,750	22,926	22,185	21,866	21,972	23,195	22,482

Cash flow statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	1,409	2,228	1,643	1,062	2,201	1,233	1,253	1,554	2,293	1,727
Depreciation and amortization	169	171	212	258	300	363	411	389	385	410
Stock-based compensation	0	0	36	137	147	102	74	90	135	132
Deferred income tax	92	-603	386	283	534	342	321	203	164	271
Cash from operations	1,655	1,317	2,524	2,365	2,639	1,884	1,800	1,840	3,324	1,970
Capital expenditures	-191	-215	-235	-359	-484	-307	-357	-345	-331	-502
Acquisitions		0	0	-1,061	-51	-243	0	0	-97	-8
Purchases of investments	-13	0	-338	-103	-86	-28	-54	-103	-79	-178
Sales and maturities of investments		0	0	349	0	0
Cash from investing	-242	128	-637	-1,100	-528	-513	-438	-452	-537	-705
Debt issued						0	0	1,232	0	0
Debt repaid				0	0	-750	0	-1,250	-600	0
Stock issued					12	17	7	34	171	156
Share buybacks		0	0	-600	-1,001	-1,000	-2,000	-1,000	-1,000	-2,000
Dividends paid	-35	-41	-188	-335	-330	-307	-299	-281	-277	-287
Cash from financing	-1,431	1,036	-1,153	146	-870	-2,057	-2,290	-1,341	-1,755	-2,411
Net change in cash	-18	2,481	734	1,411	1,241	-686	-928	47	1,032	-1,146
Free cash flow	1,464	1,102	2,289	2,006	2,155	1,577	1,443	1,495	2,993	1,468
Interest paid		28	39	355	390	383	345	398	402	440
Income taxes paid		0	4	88	225	209	245	232	515	335

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $63.07 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	13.3%	Pre-tax income / revenue.
Net margin	9.8%	Net income / revenue.
FCF margin	8.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	11.5%	Cash from operations / revenue.
Effective tax rate	24.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	14.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	7.4%	Net income / average total assets.
SG&A / revenue	13.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.9%	Capital expenditures / revenue.
D&A / revenue	2.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-25.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	10.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-4.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-21.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	18.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	1.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-40.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	3.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-5.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-51.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	0.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-7.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-2.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	3.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	0.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-3.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-0.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-6.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-5.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.17x	Current assets / current liabilities.
Quick ratio	2.87x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.58x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.57x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	29.4%	Total debt / total assets.
Liabilities / assets	47.8%	Total liabilities / total assets.
Net debt	$2.40B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$5.79B	Current assets - current liabilities.
Goodwill and intangibles / assets	29.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$5.11B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.75x	Revenue / average total assets.
Fixed asset turnover	9.66x	Revenue / average property, plant and equipment.
Receivables turnover	5.78x	Revenue / average receivables.
Days sales outstanding	63 days	365 x average receivables / revenue.
FCF conversion	87.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	25.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.84	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$3.91	Net income per basic share, as reported (split-adjusted).
Revenue per share	$39.01	Revenue / diluted weighted shares.
FCF per share	$3.34	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.49	Cash from operations / diluted weighted shares.
Book value per share	$26.49	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$11.64	Tangible book value / shares outstanding.
Cash per share	$9.58	(Cash + short-term investments) / shares outstanding.
Payout ratio	17.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	19.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	136.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$26.47B	Share price x shares outstanding.
Enterprise value	$28.87B	Market cap + total debt - cash - short-term investments.
P/E	15.7x	Market cap / net income. Only when net income is positive.
P/S	1.55x	Market cap / revenue.
P/B	2.28x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	5.18x	Market cap / tangible book value, when positive.
P/FCF	18.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	13.4x	Market cap / cash from operations, when positive.
EV/Sales	1.69x	Enterprise value / revenue.
EV/FCF	19.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.5%	Free cash flow / market cap.
Earnings yield	6.4%	Net income / market cap (the inverse of P/E).
Dividend yield	1.1%	Dividends paid over the period / market cap.
Shareholder yield	8.6%	(Dividends paid + share buybacks) / market cap.
PEG	0.87x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Fox Corp's revenue in fiscal 2026?

Fox Corp reported revenue of $17.13B for fiscal 2026, 5.1% higher than the year before.

Was Fox Corp profitable in fiscal 2026?

Yes. Net income was $1.69B, a net margin of 9.8%.

How much free cash flow did Fox Corp generate in fiscal 2026?

Cash from operations of $1.97B minus capital expenditures of $502.0M left free cash flow of $1.47B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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