What is News Corp worth?
With the base-case assumptions below, a discounted cash flow model on News Corp's reported free cash flow gives $19.36 per share. The share price was $32.24 on September 28, 2026, 67% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -5.5% | 10.0% | $12.20 | -62% |
| Base | -0.5% | 9.0% | $19.36 | -40% |
| Bull | 4.5% | 8.0% | $33.29 | +3% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $24.29 | $25.76 | $27.56 | $29.81 | $32.70 |
| 8.0% | $20.63 | $21.59 | $22.72 | $24.07 | $25.73 |
| 9.0% | $17.95 | $18.61 | $19.36 | $20.24 | $21.28 |
| 10.0% | $15.90 | $16.37 | $16.89 | $17.49 | $18.19 |
| 11.0% | $14.28 | $14.62 | $15.00 | $15.43 | $15.91 |
Where the presets come from
Base: years 1 to 5 grow at News Corp's revenue growth rate over the last 5 fiscal years (-0.7% 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