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Stocks FOXA DCF valuation

DCF valuation

What is Fox Corp worth?

With the base-case assumptions below, a discounted cash flow model on Fox Corp's reported free cash flow gives $60.66 per share. The share price was $67.37 on November 10, 2026, 11% above that value.

Inputs from the filings

Free cash flow, fiscal 2026
$1.47B
Average free cash flow, last 5 years
$1.8B
Cash
$4.54B
balance sheet of September 30, 2026
Debt
$6.61B
balance sheet of September 30, 2026
Diluted shares, fiscal 2026
439,000,000
Revenue growth per year, last 5 years
5.8%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear1.0%1.5%2.0%10.0%$35.56-47%
Base6.0%4.5%2.5%9.0%$60.66-10%
Bull11.0%7.0%3.0%8.0%$107.51+60%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$78.72$84.24$90.98$99.41$110.24
8.0%$65.24$68.82$73.04$78.12$84.32
9.0%$55.39$57.83$60.66$63.95$67.84
10.0%$47.88$49.62$51.59$53.84$56.44
11.0%$41.98$43.25$44.68$46.28$48.10

Where the presets come from

Base: years 1 to 5 grow at Fox Corp's revenue growth rate over the last 5 fiscal years (5.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Fox Corp company page