FOX
Fox Corp
Next earnings Aug 3, 2026 (after close) · consensus $1.41 EPS, $3.72B rev
Last earnings +8.1% on 2026-05-11
$50.56
▲ +10.61%$50.56▼ -2.41%
over 1Y
L $44.39H $67.40
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+10.6%
1W+13.9%
1M-13.8%
3M-4.4%
YTD-22.9%
1Y-2.4%
Buy
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 28 analysts
Buy
Cheap at 9.9x with a fortress balance sheet and heavy buybacks — but FY25 earnings sit on a cyclical peak.
P/E 9.9 · FY2025 EPS $4.91
The read
Quality fundamentals and an attractive price line up (~269% below fair value) — the rarer case where both the business and the entry look good.
FOX just posted its best year in the dataset: FY2025 revenue $16.3B (+16.6%), net income $2.29B (+47.6%) and diluted EPS $4.91 (+56.9%), lifting ROE to 19.2% on a 14.1% net margin. The balance sheet is genuinely strong — $5.35B cash, $12.0B equity, $6.6B fixed-rate long-term debt and zero current debt, with operating cash flow surging 80.7% to $3.32B against just $331M capex. Management is returning that cash hard: $1.0B of buybacks (shares down 4.0%) plus $277M dividends. At $48.42 the stock trades for only 9.9x EPS and 1.4x sales — a low multiple for a business throwing off this much free cash and compounding equity.
The critical caveat, straight from the MD&A, is that this earnings level is a cyclical high, not a new run-rate. The +26% ($1.4B) jump in advertising was driven by roughly $870M from sports 'led by revenues from the broadcast of Super Bowl LIX' and higher NFL pricing, plus ~$550M of 2024 presidential/congressional political advertising. The Super Bowl rotates away and the election cycle does not repeat in the coming year, so a meaningful slug of FY25 ad revenue does not recur. Reported income also benefited from $438M of 'non-operating other, net' — a swing that is not core operations.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 1, 2026, 9:49 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Is FOX a buy? The one-page verdict, explained →
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $12.9B | $14.0B | $14.9B | $14.0B | $16.3B |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $2.20B | $1.23B | $1.25B | $1.55B | $2.29B |
| Diluted EPS | $3.61 | $2.11 | $2.33 | $3.13 | $4.91 |
| Net margin | 17.1% | 8.8% | 8.4% | 11.1% | 14.1% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$22.5B
EV / EBITDA—
EV / Sales1.4
EV / FCF7.5
P / FCF7.1
PEG (trailing)0.22
Earnings yield10.8%
FCF yield14.1%
Quality & risk
ROIC (est.)—
Free cash flow$2.99B
Total debt$6.60B
Net cash-$1.25B
Piotroski F-Score8/8
Capital returns
Buyback yield4.7%
Dividend yield (est.)1.3%
Shareholder yield6.0%
Shares Δ YoY-4.0%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
- 8-K Material agreement2026-06-30
New financing agreement adds a direct debt obligation (likely notes issuance)
- 8-K Material agreement2026-06-15
Reg FD investor disclosure; no change to financial guidance
- 8-K Reg FD disclosure2026-06-15
Reg FD investor disclosure; no change to financial guidance
- 8-K Officer / director change2026-06-11
Executive/director leadership change announced
- 8-K Earnings results2026-05-11
Q3 FY26 (Mar 26) filed; laps Super Bowl LIX quarter, pressuring revenue
- 10-Q Quarterly report2026-05-11
Q3 FY26 (Mar 26) filed; laps Super Bowl LIX quarter, pressuring revenue
- 8-K Earnings results2026-02-04
Q2 FY26 (Dec 25) filed; laps 2024 election political-ad tailwind
- 10-Q Quarterly report2026-02-04
Q2 FY26 (Dec 25) filed; laps 2024 election political-ad tailwind
- 10-Q Quarterly report2025-10-30
Q1 FY26 (Sep 25) filed; laps 2024 election political-ad surge
Recent filings
all on EDGAR ↗4Period ending 2026-06-302026-07-01open ↗425Filing2026-06-30open ↗8-KPeriod ending 2026-06-302026-06-30open ↗SCHEDULE 13D/AFiling2026-06-16open ↗425Filing2026-06-16open ↗425Filing2026-06-15open ↗425Filing2026-06-15open ↗425Filing2026-06-15open ↗425Filing2026-06-15open ↗425Filing2026-06-15open ↗8-KPeriod ending 2026-06-142026-06-15open ↗425Filing2026-06-15open ↗
Frequently asked
- Is Fox Corp (FOX) a buy?
- FOX currently carries a Buy rating with 3/5 conviction, derived from its latest SEC filings. Cheap at 9.9x with a fortress balance sheet and heavy buybacks — but FY25 earnings sit on a cyclical peak.
- What is FOX's fair value?
- A Modified-Graham model based on FOX's SEC fundamentals estimates a fair value of about $186.58. It is an estimate from reported earnings, not a price target.
- Is FOX overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, FOX currently appears undervalued relative to its SEC-grounded earnings power.
- What is Fox Corp's quality score?
- FOX scores 78.43231519406832/100 (grade B+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001754301, latest 10-Q filed 2026-05-11) · EODHD · Proprietary analysis · as of 7/2/2026, 1:49:00 AM.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.