Fox (FOX)
NASDAQ:FOX
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Fox
(NASDAQ:FOX)
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Rating:64Neutral
Price Target:
$56.00
▲(4.19% Upside)
Action:ReiteratedDate:03/26/26
The score is driven primarily by solid financial fundamentals (healthy margins and strong cash generation) and a generally positive earnings-call outlook on advertising and digital initiatives, partially offset by near-term profit pressure. The biggest drag is weak technical positioning (below key moving averages with negative MACD), while valuation is also a headwind due to a high P/E and only a modest dividend yield.
Positive Factors
Strong cash generation
Sustained operating cash flow and near‑term positive free cash flow provide durable financial flexibility. This cash generation supports continued buybacks, a semiannual dividend, sports rights funding and product investment, buffering the business against advertising cyclicality and distribution headwinds.
Negative Factors
Adjusted EBITDA decline
An 11% drop in adjusted EBITDA signals margin pressure from higher sports rights and digital investments. If elevated content and platform costs persist without offsetting pricing or revenue gains, operating leverage could weaken and constrain long‑term free cash flow generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained operating cash flow and near‑term positive free cash flow provide durable financial flexibility. This cash generation supports continued buybacks, a semiannual dividend, sports rights funding and product investment, buffering the business against advertising cyclicality and distribution headwinds.
Read all positive factors
Fox (FOX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$24.05B
Dividend Yield0.85%
Average Volume (3M)2.08M
Price to Earnings (P/E)30.7
Beta (1Y)0.56
Revenue Growth14.91%
EPS Growth9.30%
CountryUS
Employees10,200
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)0.82
Shares Outstanding224,702,220
10 Day Avg. Volume2,511,358
30 Day Avg. Volume2,081,811
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)1.99
Price to Sales (P/S)1.46
P/FCF Ratio7.95
Enterprise Value/Market Cap1.37
Enterprise Value/Revenue1.98
Enterprise Value/Gross Profit6.00
Enterprise Value/Ebitda9.81
Forecast
1Y Price Target
$54.50Price Target Upside1.40% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)4.65
Revenue Forecast (FY)$16.28B
Fox Business Overview & Revenue Model
Company Description
Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming se...
How the Company Makes Money
Fox Corporation primarily makes money through a combination of advertising, affiliate/subscriber fees, and content production/licensing. (1) Advertising: A significant portion of revenue comes from selling advertising across its platforms—national...
Fox Key Performance Indicators (KPIs)
Any
Revenue by Component
Analyzes revenue streams from different business components, highlighting which areas are driving growth and which might need strategic adjustments.
Analyzes revenue streams from different business components, highlighting which areas are driving growth and which might need strategic adjustments.
Data provided by:
The Fly
The FlyFox Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call highlighted broad top-line momentum across core strategic areas — news, sports, streaming (Tubi) and the early success of Fox One — with audience engagement, record sports ad results, Tubi profitability, and meaningful shareholder returns as key positives. Offsetting these strengths were notable margin and earnings pressures driven by higher sports and growth investments, a decline in adjusted EBITDA and GAAP net income, TV content timing issues, and a seasonal free cash flow deficit. Overall, management framed the quarter as continued strategic and audience-driven momentum while acknowledging near-term expense and profitability headwinds.Positive Updates
Total Revenue Growth
Total company revenues of $5.18 billion, up 2% year-over-year, driven by strength in distribution, advertising and streaming.
Negative Updates
Adjusted EBITDA Decline
Quarterly adjusted EBITDA declined to $692 million from $781 million a year ago, a drop of ~$89 million (~-11%), as higher expenses (digital growth initiatives and elevated sports programming/production costs) offset revenue growth.
Read all updates
Q2-2026 Updates
Positive
Negative
Total Revenue Growth
Total company revenues of $5.18 billion, up 2% year-over-year, driven by strength in distribution, advertising and streaming.
Read all positive updates
Company Guidance
Management said the company enters the back half of fiscal 2026 with strong momentum and expects a robust political advertising cycle and continued healthy ad trends—noting ~200 new advertisers this half (350 last year) and Fox News scatter pricing up ~46–47% YoY—and reiterated that Fox One is on track to reach low‑to‑mid single‑digit millions of subscribers over the next 3–4 years and that the FIFA World Cup is expected to be profitable. They highlighted improving distribution trends (subscriber declines improving to ~6.3% excl. Fox One) after distribution revenue grew 4% in the quarter, reported total revenue of $5.18 billion (+2% YoY), adjusted EBITDA of $692 million, adjusted EPS $0.82, and a seasonal free cash flow deficit of $71 million that management expects to reverse in H2. On capital allocation they committed to aggressive buybacks ($1.8 billion repurchased this fiscal year, $8.4 billion cumulative ≈35% of shares since 2019), announced a $0.28 per‑share semiannual dividend, and closed the quarter with about $2.0 billion cash and $6.6 billion debt; they also noted the ability to offset potential sports rights cost increases by rebalancing the sports portfolio and pointed to Tubi momentum (view time +27% YoY, revenue +19%, EBITDA profitable for two quarters).Fox Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
75
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.58B | 16.30B | 13.98B | 14.91B | 13.97B | 12.91B |
| Gross Profit | 5.48B | 5.40B | 13.98B | 14.91B | 13.97B | 12.91B |
| EBITDA | 3.35B | 3.85B | 2.90B | 2.50B | 2.43B | 3.61B |
| Net Income | 1.89B | 2.26B | 1.50B | 1.24B | 1.21B | 2.15B |
Balance Sheet | ||||||
| Total Assets | 21.47B | 23.20B | 21.97B | 21.87B | 22.18B | 22.93B |
| Cash, Cash Equivalents and Short-Term Investments | 2.02B | 5.35B | 4.32B | 4.27B | 5.20B | 5.89B |
| Total Debt | 8.34B | 7.46B | 8.15B | 8.21B | 7.72B | 8.45B |
| Total Liabilities | 10.35B | 10.84B | 10.92B | 11.21B | 10.62B | 11.54B |
| Stockholders Equity | 10.93B | 11.96B | 10.71B | 10.38B | 11.34B | 11.12B |
Cash Flow | ||||||
| Free Cash Flow | 2.54B | 2.99B | 1.50B | 1.44B | 1.58B | 2.15B |
| Operating Cash Flow | 2.73B | 3.32B | 1.84B | 1.80B | 1.88B | 2.64B |
| Investing Cash Flow | -690.00M | -537.00M | -452.00M | -438.00M | -513.00M | -528.00M |
| Financing Cash Flow | -3.34B | -1.75B | -1.34B | -2.29B | -2.06B | -870.00M |
Fox Technical Analysis
Neutral
53.75
Price Trends
54.89
Negative
58.62
Negative
55.70
Negative
Market Momentum
-0.33
Negative
51.31
Neutral
50.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FOX, the sentiment is Neutral. The current price of 53.75 is above the 20-day moving average (MA) of 52.71, below the 50-day MA of 54.89, and below the 200-day MA of 55.70, indicating a neutral trend. The MACD of -0.33 indicates Negative momentum. The RSI at 51.31 is Neutral, neither overbought nor oversold. The STOCH value of 50.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FOX.
Fox Risk Analysis
Fox disclosed 25 risk factors in its most recent earnings report. Fox reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Fox Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $417.23B | 36.11 | 43.25% | ― | 15.49% | 35.54% | |
68 Neutral | $169.68B | 21.11 | 11.35% | 1.10% | 3.61% | 152.34% | |
65 Neutral | $14.25B | 31.10 | 12.52% | 0.76% | -16.36% | 29.53% | |
64 Neutral | $24.05B | 30.69 | 16.22% | 0.85% | 14.91% | 9.30% | |
64 Neutral | $14.53B | 180.68 | 3.40% | ― | 16.61% | 83.98% | |
62 Neutral | $67.88B | 98.11 | 2.05% | ― | -4.29% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
* Communication Services Sector Average
FOX
Fox
53.75
10.39
23.97%
NWSA
News Corp
24.43
0.64
2.69%
DIS
Walt Disney
95.78
14.95
18.50%
NFLX
Netflix
98.82
11.78
13.53%
ROKU
Roku
98.53
43.43
78.82%
WBD
Warner Bros
27.37
19.68
255.92%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.