Fox CorporationFOX
NasdaqGS•Communication Services•Entertainment
Fox Corporation operates as a news, sports, and entertainment company in the United States. It operates in four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators, telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms. Its Television segment produces, acquires, markets, and distributes programming through the FOX broadcast network, advertising-supported video-on-demand service Tubi, and operates full power broadcast television stations, including duopolies and other digital platforms. This segment also produces content for third parties. The Credible segment engages in the consumer finance marketplace. Its FOX Studio Lot segment provides television and film production services along with office space, studio operation services, and all operations of the facility. Fox Corporation was incorporated in 2018 and is headquartered in New York, New York.
Fox Corporation (FOX) reported trailing twelve months revenue of $16.20B as of March 2026, a 0.6% increase year-over-year. Quarterly revenue reached $3.99B, reflecting continued top-line momentum.
Fox Corporation generated $1.71B in TTM net income, with quarterly EBITDA of $403.00M. The operating margin expanded from 17.4% to 20.1%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (20.1%) and net margin (4.2%) indicates significant non-operating expenses or interest burden. Net margin has narrowed from 7.9% a year ago, reflecting increased costs or interest expense.
FOX trades at a P/E of 13.6x (below the broader market average) and a P/S of 1.4x. The price-to-book ratio of 2.1x reflects a moderate premium to book value.
The company generated $1.77B in free cash flow over the trailing twelve months, a 9.0% decrease year-over-year, indicating strong cash generation ability. The balance sheet shows $21.78B in total assets with $6.61B in long-term debt against $10.97B in stockholders equity for a debt-to-equity ratio of 0.6. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~20.3%, suggesting durable pricing power and cost discipline.
ROE averages 16.8% but has fluctuated — the competitive advantage may be cyclical or emerging.
5 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (6 of 7 quarters up), with ~15.9% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~20.7% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.6 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.
Shares decreased 7.7% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation