Fox Corp Stock Research

Market Summary

USD32.94+0.42

Market Closed

1.29%

FOXA Alerts

Big jump in Earnings (Y/Y)

FOXA Stock Price

FOXA RSI Chart

FOXA Valuation

Market Cap

17.8B

Price/Earnings (Trailing)

11.63

Price/Sales (Trailing)

1.25

EV/EBITDA

9.5

Price/Free Cashflow

9.19

FOXA Price/Sales (Trailing)

FOXA Profitability

EBT Margin

14.83%

Return on Equity

13.2%

Return on Assets

6.62%

Free Cashflow Yield

10.89%

FOXA Fundamentals

FOXA Revenue

Revenue (TTM)

14.3B

Revenue Y/Y

3.69%

Revenue Q/Q

44.27%

FOXA Earnings

Earnings (TTM)

1.5B

Earnings Y/Y

539.73%

Earnings Q/Q

-47.63%

Price Action

52 Week Range

28.0242.02

(Low)(High)

Last 7 days

-5.7%

Last 30 days

-8.9%

Last 90 days

5.9%

Trailing 12 Months

-18.2%

FOXA Financial Health

Current Ratio

3.37

Debt/Equity

0.62

Debt/Cashflow

0.32

FOXA Investor Care

Buy Backs (1Y)

4.92%

Diluted EPS (TTM)

2.72

Peers (Alternatives to Fox)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AAPL	2.5T	387.5B	-0.56%	-0.91%	25.94	6.37	2.44%	-5.35%
MSFT	2.1T	204.1B	-1.92%	-6.89%	30.5	10.08	10.38%	-5.25%
GOOG	1.3T	282.8B	1.63%	-25.54%	21.65	4.59	9.78%	-21.12%
AMZN	1.0T	514.0B	-3.36%	-34.72%	-376.42	1.99	9.40%	-108.16%
MID-CAP
NYMT	3.6B	258.4M	203.99%	176.76%	-11.9	13.75	24.91%	-254.56%
JBLU	2.3B	9.2B	-18.97%	-49.38%	-6.41	0.25	51.67%	-98.90%
SMALL-CAP
PLAY	1.7B	1.7B	-22.36%	-14.62%	13.72	0.97	61.79%	371.82%
TLRY	1.6B	602.5M	-17.77%	-52.80%	-2.74	2.63	18.18%	-18.59%
BYND	1.1B	418.9M	5.51%	-56.16%	-2.93	2.57	-9.85%	-101.06%
CGC	991.7M	478.9M	-11.35%	-65.42%	-0.32	2.07	-31.50%	-634.70%
MFA	954.9M	482.4M	-16.25%	-37.64%	-4.12	1.98	33.15%	-170.42%
NKLA	897.6M	50.8M	-34.66%	-77.56%	-1.14	17.66	1229.98%	-13.59%
GPRO	788.4M	1.1B	-10.56%	-33.33%	27.33	0.72	-5.82%	-92.23%
INO	281.8M	10.3M	-24.84%	-63.38%	-1.01	27.46	478.23%	7.85%

Financials for Fox

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	1.2%	14,285	14,121	13,974	13,831	13,591
Operating Expenses	-1.5%	9,063	9,202	9,117	9,040	8,761
S&GA Expenses	4.2%	2,035	1,953	1,920	1,908	1,860
EBITDA	35.6%	2,207	1,628	1,686	1,569	1,936
EBITDA Margin	34.0%	0.15*	0.12*	0.12*	0.11*	0.14*
Earnings Before Taxes	33.5%	2,119	1,587	1,694	1,604	1,992
EBT Margin	32.0%	0.15*	0.11*	0.12*	0.12*	0.15*
Interest Expenses	10.8%	-305	-342	-371	-383	-390
Net Income	34.6%	1,532	1,138	1,233	1,178	1,470
Net Income Margin	33.1%	0.11*	0.08*	0.09*	0.09*	0.11*
Free Cahsflow	8.0%	1,940	1,797	1,577	1,382	1,383

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	3.1%	23,126	22,424	22,185	22,016	22,878
Current Assets	0.9%	8,571	8,495	8,281	7,916	8,514
Cash Equivalents	-18.0%	4,058	4,950	5,200	4,634	4,255
Inventory	27.5%	1,300	1,020	791	786	1,148
Net PPE	-0.1%	1,680	1,681	1,682	1,646	1,650
Goodwill	0.2%	3,556	3,550	3,554	3,560	3,565
Current Liabilities	7.7%	2,543	2,362	2,296	2,121	2,870
Long Term Debt	0.0%	7,207	7,206	7,205	7,954	-
LT Debt, Current	NaN%	-	-	750	-	-
LT Debt, Non Current	0.0%	7,208	7,207	7,206	7,205	7,204
Shareholder's Equity	0.2%	11,607	11,585	11,339	11,200	11,290
Retained Earnings	6.8%	2,985	2,795	2,461	2,300	2,308
Additional Paid-In Capital	-1.3%	8,836	8,949	9,098	9,195	9,265
Accumulated Depreciation	-	1,729	-	-	-	-
Shares Outstanding	-1.6%	541	550	563	569	-
Minority Interest	7.8%	69.00	64.00	36.00	18.00	15.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	7.2%	2,279	2,125	1,884	1,724	1,746
Share Based Compensation	-7.4%	87.00	94.00	102	110	119
Cashflow From Investing	21.2%	-438	-556	-513	-585	-495
Cashflow From Financing	-0.4%	-2,038	-2,030	-2,057	-2,270	-1,498
Dividend Payments	2.6%	312	304	307	443	304
Buy Backs	0.3%	1,003	1,000	1,000	1,036	1,091

Risks for FOXA

What is the probability of a big loss on FOXA?

61.9%

Probability that Fox stock will be more than 20% underwater in next one year

43.5%

Probability that Fox stock will be more than 30% underwater in next one year.

27.3%

Probability that Fox stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does FOXA drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Fox was unfortunately bought at previous high price.

Drawdowns

Returns for FOXA

Cumulative Returns on FOXA

3.0%

10-Year Cumulative Returns

3.2%

7-Year Cumulative Returns

-1.6%

5-Year Cumulative Returns

8.5%

3-Year Cumulative Returns

What are the long-term rolling returns for FOXA?

FIve years rolling returns for Fox.

Annualized Returns

Which funds bought or sold FOXA recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	1.19	20,097	2,039,100	-%
2023-03-10	BAILLIE GIFFORD & CO	added	18.78	2,059	13,059	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	14.23	2,195,820	18,992,800	0.02%
2023-03-07	Nordwand Advisors, LLC	new	-	4,488,810	4,488,810	0.56%
2023-03-06	Rockefeller Capital Management L.P.	added	17.76	32,000	223,000	-%
2023-03-06	Rockefeller Capital Management L.P.	added	48.48	1,000	2,000	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	reduced	-6.45	-358	2,642	-%
2023-02-28	Voya Investment Management LLC	reduced	-92.44	-41,047,800	3,320,200	-%
2023-02-28	Voya Investment Management LLC	added	71.64	1,020,740	2,451,740	-%
2023-02-24	NATIXIS	reduced	-55.51	-3,573,040	2,853,960	0.02%

Latest Funds Activity

Are funds buying FOXA calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own FOXA

No. of Funds

FOXA Alerts

Big jump in Earnings (Y/Y)

Fox News

Schedule 13G FIlings of Fox

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	dodge & cox	4.9%	11,787,394	SC 13G/A
Feb 14, 2023	dodge & cox	13.2%	40,067,365	SC 13G/A
Feb 13, 2023	independent franchise partners llp	6.3%	19,026,164	SC 13G/A
Feb 09, 2023	vanguard group inc	6.83%	16,400,292	SC 13G/A
Feb 09, 2023	vanguard group inc	11.21%	33,917,455	SC 13G/A
Feb 01, 2023	blackrock inc.	15.1%	45,743,746	SC 13G/A
Feb 14, 2022	dodge & cox	14.9%	47,770,582	SC 13G/A
Feb 14, 2022	dodge & cox	5.1%	12,808,314	SC 13G
Feb 11, 2022	independent franchise partners llp	6.7%	21,617,954	SC 13G/A
Jan 27, 2022	blackrock inc.	12.4%	39,865,263	SC 13G/A

FOXA Fair Value

Fox fair value in different scenarios

The table shows the Fair Value estimates for Fox for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	29.48 -10.50%	39.35 19.46%	50.55 53.46%	63.08 91.50%	72.87 121.22%
Current Inflation	27.21 -17.40%	35.69 8.35%	45.06 36.79%	55.58 68.73%	63.77 93.59%
Very High Inflation	24.37 -26.02%	31.23 -5.19%	38.54 17.00%	46.79 42.05%	53.20 61.51%

Historical Fox Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Fox

View All Filings

Date Filed	Form Type	Document
Mar 03, 2023	4	Insider Trading
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 13, 2023	8-K	Current Report
Feb 13, 2023	SC 13G/A	Major Ownership Report
Feb 10, 2023	4	Insider Trading
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 08, 2023	10-Q	Quarterly Report
Feb 08, 2023	8-K	Current Report

About Fox

Lachlan K. Murdoch

www.foxcorporation.com

9000

Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through three segments: Cable Network Programming; Television; and Other, Corporate and Eliminations. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online multi-channel video programming distributors. It operates FOX News, a national cable news channel; FOX Business, a business news national cable channel; FS1 and FS2 multi-sport national networks; FOX Sports Racing, a video programming service that comprises motor sports programming; and FOX Soccer Plus, a video programming network for live soccer and rugby competitions; FOX Deportes, a Spanish-language sports programming service; and Big Ten Network, a national video programming service. The Television segment acquires, produces, markets, and distributes broadcast network programming. It operates The FOX Network, a national television broadcast network that broadcasts sports programming and entertainment; MyNetworkTV, a programming distribution service; Fox Alternative Entertainment, a full-service production studio that develops and produces unscripted and alternative programming; Bento Box, which develops and produces animated programing; and Tubi, a free advertising-supported video-on-demand service. This segment owns and operates 29 broadcast television stations. The Other, Corporate and Eliminations segment owns the FOX Studios lot that provides production and post-production services, including 15 sound stages, 2 broadcast studios, theaters and screening rooms, editing bays, and television and film production facilities in Los Angeles, California. The company was incorporated in 2018 and is based in New York, New York.

FOXA Income Statement

2022-09-30

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions

3 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Income Statement [Abstract]

Revenues

$ 3,192

$ 3,045

Operating expenses

(1,656)

(1,571)

Selling, general and administrative

(448)

(415)

Depreciation and amortization

(99)

(79)

Interest expense, net

(68)

(97)

Other, net

(76)

Income before income tax expense

845

952

Income tax expense

(232)

(244)

Net income

613

708

Less: Net income attributable to noncontrolling interests

^[1]

(8)

(7)

Net income attributable to Fox Corporation stockholders

$ 605

$ 701

Weighted average shares:

Basic (in shares)

550

575

Diluted (in shares)

552

578

Net income attributable to Fox Corporation stockholders per share:

Basic (in dollars per share)

$ 1.10

$ 1.22

Diluted (in dollars per share)

$ 1.10

$ 1.21

[1]	Net income attributable to noncontrolling interests includes $(5) million and $(1) million for the three months ended September 30, 2022 and 2021, respectively, relating to redeemable noncontrolling interests.

FOXA Balance Sheet

2022-09-30

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions

Sep. 30, 2022

Jun. 30, 2022

Current assets

Cash and cash equivalents

$ 4,950

$ 5,200

Receivables, net

2,268

2,128

Inventories, net

1,020

791

Other

257

162

Total current assets

8,495

8,281

Non-current assets

Property, plant and equipment, net

1,681

1,682

Intangible assets, net

3,135

3,157

Goodwill

3,550

3,554

Deferred tax assets

3,334

3,440

Other non-current assets

2,229

2,071

Total assets

22,424

22,185

Current liabilities

Accounts payable, accrued expenses and other current liabilities

2,362

2,296

Total current liabilities

2,362

2,296

Non-current liabilities

Borrowings

7,207

7,206

Other liabilities

1,077

1,120

Redeemable noncontrolling interests

193

188

Commitments and contingencies

Equity

Additional paid-in capital

8,949

9,098

Retained earnings

2,795

2,461

Accumulated other comprehensive loss

(228)

(226)

Total Fox Corporation stockholders’ equity

11,521

11,339

Noncontrolling interests

Total equity

11,585

11,375

Total liabilities and equity

22,424

22,185

Class A Common Stock

Equity

Common stock

^[1]

Class B Common Stock

Equity

Common stock

^[2]

$ 2

$ 3

[1]	Class A Common Stock, $0.01 par value per share, 2,000,000,000 shares authorized, 303,622,569 shares and 307,496,876 shares issued and outstanding at par as of September 30, 2022 and June 30, 2022, respectively.
[2]	Class B Common Stock, $0.01 par value per share, 1,000,000,000 shares authorized, 240,746,979 shares and 243,122,595 shares issued and outstanding at par as of September 30, 2022 and June 30, 2022, respectively.