Fox Corp (FOX)
Communication Services · Broadcasting · US stock · S&P 500 component
$60.82
▲ +2.19 (3.74%)
Fair valueUndervalued
$73 +20.3% to fair value
$37fair band $62–$89$110
Day's range
$58.47 – $60.82
52-week range
$44.08 – $68.18
About Fox Corp
Fox Corporation owns a television and digital media business in the United States. Its main assets are the Fox broadcast network, Fox News, Fox Business, Fox Sports, the Fox owned local stations and the Tubi streaming service. Revenue comes from advertising, fees paid by cable and satellite distributors for its channels, and affiliate fees from local stations, plus programming and sports rights it sells.
Over the last twelve months, $17.1 billion in revenue was reported. Across three years, revenue grew 4.7% a year. It posts an operating margin of 15.6%, with return on invested capital of 14%. Leverage, measured as net debt to EBITDA, is 1.1 times. The dividend yield is 0.9%. Overall, the X-Ray Score comes to 55 out of 100.
Price chart
52-wk range $44.08 – $68.18Volume 655,316Daily, split-adjusted
Vitals
Market cap$26.7B
52-week range$44.08 – $68.18
Volume (last day)655,316
P/E (TTM)15.9
EBIT / EV yield8.9%
Free-cash-flow yield5.5%
Dividend yield0.9%
Revenue (TTM)$17.1B
Net income (TTM)$1.7B
Operating margin15.6%
Return on capital13.5%
Debt incl. leases$7.6B
Cash & securities$4.2B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$73middle half of models $61 – $84
Undervalued
+20.3% to fair value
Average of the 14 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $61
Undervalued < $62Fair $62 – $89Overvalued > $89
P/E multiple
$59
P/B multiple
$52
P/S multiple
$60
EV/EBITDA multiple
$90
EV/EBIT multiple
$77
EV/revenue multiple
$66
10-year DCF, EBITDA exit
$85
5-year DCF, EBITDA exit
$76
10-year DCF, revenue exit
$82
5-year DCF, revenue exit
$74
10-year DCF, growth exit
$106
5-year DCF, growth exit
$101
Dividend discount, stable
$33
Dividend discount, multi-stage
$63
Earnings power value · not used
$122
Growth the price implies
-1.8%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business at a low price
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Communication Services peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Strong
77/100
Cheap against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield8.9%
Free-cash-flow yield5.5%
Fair value vs price1.2×
Growth
Weak
39/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)4.7%
EPS growth (3y)18.1%
Growth consistency80%
Profitability
Weak
48/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital13.5%
Operating margin15.6%
Financial health
Fair
55/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA1.1×
Interest cover6.7×
Dividends
Weak
47/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield0.9%
Dividends vs free cash flow17%
Dividend growth-1.4%
Quarterly results: last 6 quarters
+26.8%
Mar '25
+6.3%
Jun '25
+4.9%
Sep '25
+2.0%
Dec '25
-8.6%
Mar '26
+28.1%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $4.2B.
SWOT analysis: Fox Corp
Strengthsinside the company
- Return on invested capital is 13.5%, against a median of 8.9% for sector peers.
- Earnings per share have compounded at 18.1% a year over three years.
- Free cash flow equals 5.5% of the market value, which funds dividends, buybacks or debt paydown.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Trades at 15.8x earnings, 24% below the 20.8x median of sector peers.
- The price is 20% below our fair value estimate, with the gap larger than the margin we allow for error.
- Our Market Compass rates the backdrop for Communication Services as favourable.
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare FOX with peers and sector
Medians of 17 Communication Services peers and of 17 Communication Services stocks in our universe.
Largest peers (X-Ray Score): GOOG 50, META 58, NFLX 58, CCZ 48, DIS 56, VZ 49.
| Metric | FOX | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 55 | 51 | 51 |
| Valuation | 77 | 50 | 50 |
| Growth | 39 | 55 | 55 |
| Profitability | 48 | 54 | 54 |
| Financial health | 55 | 51 | 51 |
| Dividends | 47 | 46 | 46 |
Sector leaders: highest X-Ray Score in Communication Services
FOX ranks #8 of 18 in Communication Services by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for FOX
Each factor is rated by where FOX stands among the 18 Communication Services stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 5 Good · 12 Average · 4 Bad of 21
Growth: 1 · 2 · 0
Profitability: 0 · 4 · 0
Financial strength: 1 · 3 · 0
Valuation: 3 · 2 · 0
Cash flow: 0 · 1 · 3
Efficiency: 0 · 0 · 1
| Factor | FOX | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +4.7% | Average beats 47% | +5.6% | – | – |
| Revenue growth, last year | +5.1% | Average beats 42% | +7.7% | +6.7% | ≈ In line |
| EPS growth, 3 years a year | +18.1% | Good beats 75% | +6.6% | – | – |
| Profitability | |||||
| Operating margin | 15.6% | Average beats 36% | 19.3% | 15.6% | ≈ In line |
| Net margin | 9.8% | Average beats 47% | 10.6% | 9.8% | ≈ In line |
| Return on invested capital | 13.5% | Average beats 58% | 10.4% | – | – |
| Return on equity | 14.5% | Average beats 36% | 17.9% | 14.0% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 1.1x | Average beats 53% | 1.4x | 0.8x | ≈ In line |
| Interest cover | 6.7x | Average beats 47% | 11.8x | 6.2x | ≈ In line |
| Current ratio | 3.17 | Good beats 81% | 1.10 | 2.91 | ≈ In line |
| Piotroski F-score | 6 / 9 | Average beats 44% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 15.8x | Good beats 74% | 20.8x | 12.2x | ▼ Worse |
| Price / book | 2.3x | Average beats 64% | 2.8x | 1.6x | ▼ Worse |
| Price / sales | 1.6x | Good beats 75% | 2.0x | 1.2x | ▼ Worse |
| EV / EBITDA | 9.8x | Good beats 68% | 13.4x | 7.4x | ▼ Worse |
| Free cash flow yield | 5.5% | Average beats 65% | 3.9% | 9.3% | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 8.6% | Average beats 34% | 15.7% | 10.7% | ▼ Worse |
| Cash from operations / net income | 1.17 | Bad beats 30% | 1.98 | 1.45 | ▼ Worse |
| Free cash flow growth, 3 years a year | +0.6% | Bad beats 28% | +11.7% | – | – |
| Accruals (lower is better) | −1.3% | Bad beats 22% | −5.8% | – | – |
| Efficiency | |||||
| Days sales outstanding | 74 days | Bad beats 22% | 47 days | 56 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 4 Good · ● 9 Average · ● 2 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldAverage
Risk models
Altman Z''Good
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Average
Growth consistencyAverage
Balance sheet
Current ratioGood
Net debt / EBITDAAverage
Interest coverAverage
Valuation
Fair value vs priceGood
EBIT / EV yieldGood
Profitability
Return on invested capitalAverage
Operating marginAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 53/100.
Financials
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Revenue | $14.0B | $14.9B | $14.0B | $16.3B | $17.1B |
| Operating income | $2.1B | $2.1B | $2.5B | $3.5B | $2.7B |
| Net income | $1.2B | $1.2B | $1.5B | $2.3B | $1.7B |
| Operating cash flow | $1.9B | $1.8B | $1.8B | $3.3B | $2.0B |
| Operating margin | 14.8% | 14.0% | 17.9% | 21.3% | 15.6% |
| Free cash flow | $1.6B | $1.4B | $1.5B | $3.0B | $1.5B |
| Diluted EPS | $2.11 | $2.33 | $3.13 | $4.91 | $3.84 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 57.54 | Bullish |
| EMA 10 | 58.16 | Bullish |
| SMA 20 | 56.83 | Bullish |
| EMA 20 | 57.61 | Bullish |
| SMA 50 | 58.42 | Bullish |
| EMA 50 | 57.09 | Bullish |
| SMA 100 | 55.00 | Bullish |
| EMA 100 | 56.36 | Bullish |
| SMA 200 | 55.89 | Bullish |
| EMA 200 | 55.61 | Bullish |
Oscillators (daily)
| RSI (14) | 64.19 | Neutral |
| MACD (12, 26) | 0.45 | Bullish |
| Momentum (12) | 9.43 | Bullish |
| Stochastic %K (14) | 100.0 | Bearish |
| Williams %R (14) | 0.00 | Bearish |
| CCI (20) | 211.1 | Bearish |
Pivot points (classic, last session)
S3 56.89 | S2 57.68 | S1 59.25 | Pivot 60.04 | R1 61.60 | R2 62.39 | R3 63.96 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
0.57 USD
Yield on today's price
0.94%
Frequency
Semi-annual
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.2900 | |
| 0.2800 | |
| 0.2800 | |
| 0.2700 | |
| 0.2700 | |
| 0.2600 | |
| 0.2600 | |
| 0.2500 | |
| 0.2500 | |
| 0.2400 | |
| 0.2400 | |
| 0.2300 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold FOX
| ETF | Share of the fund |
|---|---|
| XLC Communication Services Select Sector S... | 0.79% |
| VOX Vanguard Communication Services | 0.53% |
| FCOM Fidelity MSCI Communication Services I... | 0.43% |
| GSLC Goldman Sachs ActiveBeta U.S. Large Ca... | 0.19% |
| GXPC Global X Purecap MSCI Communication Se... | 0.12% |
| AVLV Avantis U.S. Large Cap Value | 0.10% |
| VLUE iShares MSCI USA Value Factor | 0.10% |
| VOE Vanguard Mid-Cap Value | 0.10% |
The eight funds with the largest weight in FOX among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
FOX SEC filings
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Shareholder vote results
8-KSEC EDGAR
Other events
DEF 14ASEC EDGAR
Proxy statement
8-KSEC EDGAR
Other events
10-KSEC EDGAR
Annual report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Entered a material agreement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.