Fox (FOXA) AI Stock Analysis

• Market Cap: $28.44B
• Dividend Yield: 0.75%
• Average Volume (3M): 2.66M
• Price to Earnings (P/E): 16.9
• Beta (1Y): 0.48
• Revenue Growth: 14.91%
• EPS Growth: 9.30%
• Country: US
• Employees: 10,200
• Sector: Communication Services
• Sector Strength: 97
• Industry: Entertainment
• EPS (TTM): 0.82
• Shares Outstanding: 208,361,700
• 10 Day Avg. Volume: 3,503,021
• 30 Day Avg. Volume: 2,662,486
• PEG Ratio: 0.20
• Price to Book (P/B): 2.16
• Price to Sales (P/S): 1.58
• P/FCF Ratio: 8.63
• Enterprise Value/Market Cap: 1.15
• Enterprise Value/Revenue: 1.97
• Enterprise Value/Gross Profit: 5.95
• Enterprise Value/Ebitda: 9.72
• 1Y Price Target: $74.46
• Price Target Upside: 9.94% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 13
• EPS Forecast (FY): 4.61
• Revenue Forecast (FY): $16.28B

• Rating: 68 Neutral
• Price Target: $74.00 ▲(9.26% Upside)

The score is driven primarily by solid financial fundamentals (profitability, ROE, manageable leverage, and strong absolute free cash flow) and a generally positive earnings-call outlook with streaming/engagement momentum and shareholder returns. This is tempered by weak near-term technicals (downtrend and negative MACD) and some profitability/margin pressure highlighted in the latest quarter.

Positive Factors

Strong Free Cash Flow

Sizable trailing‑12‑month free cash flow (~$2.5B) provides durable internal funding to cover content rights, buybacks, and dividends while supporting execution of strategic initiatives. Even with volatility, strong absolute FCF enhances financial flexibility over the medium term.

Manageable Leverage & Strong ROE

Debt near 0.6x equity and a ~17% TTM ROE indicate efficient capital use with reasonable leverage headroom. This balance-sheet profile supports continued content investment and shareholder returns while preserving capacity to absorb cyclical swings in advertising or rights timing.

Tubi Streaming Momentum & Profitability

Rapid audience and revenue growth at Tubi, plus consecutive quarters of EBITDA profitability, represent structural diversification away from linear TV. Persistent streaming engagement and improving unit economics reduce reliance on volatile live ad cycles and support sustainable long‑term margin improvement.

Negative Factors

Declining Adjusted EBITDA & Net Income

An ~11% drop in adjusted EBITDA and materially lower GAAP net income show profitability has not kept pace with revenue gains. Persistent margin pressure can erode cash generation and constrain reinvestment, making sustained margin recovery a critical medium‑term challenge.

Rising Sports Rights and Production Costs

Escalating sports rights and production expenses are a structural cost headwind for a sports- and live‑events dependent model. Higher fixed rights costs compress margin leverage on ad and distribution revenue and can force tradeoffs among rights, pricing, or content investment.

TV Segment Weakness & Subscriber Declines

A roughly 30% decline in TV segment EBITDA and ongoing pay‑TV subscriber erosion reflect structural cord‑cutting pressures. Reduced affiliate economics and weaker TV EBITDA make monetizing live programming harder and increase reliance on digital growth to offset linear declines.

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 segment produces and licenses news, business news, and sports content for distribution through traditional and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S. 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; 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 programming. It operates The FOX Network, a national television broadcast network that broadcasts sports programming and entertainment; Tubi, an advertising-supported video-on-demand service; Fox Alternative Entertainment, a full-service production studio that develops and produces unscripted and alternative programming; MyNetworkTV, a programming distribution service; and Blockchain Creative Labs, which is focuses on the creation, distribution and monetization of Web3 content. 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, two broadcast studios, theaters and screening rooms, editing rooms, and other television and film production facilities in Los Angeles, California. The company was incorporated in 2018 and is based in New York, New York.

How the Company Makes Money

Fox generates revenue through multiple channels, primarily through advertising sales and affiliate fees. The company's advertising revenue comes from commercial airtime sold during broadcasts, which is particularly lucrative during live sports events and prime-time shows. Additionally, Fox earns affiliate fees from cable and satellite providers who carry its channels, providing a steady income stream. The company also benefits from licensing its content to third-party platforms and international broadcasters. Significant partnerships with sports leagues and major events, such as the NFL and MLB, enhance its revenue potential by attracting large audiences and advertisers. Furthermore, digital initiatives and streaming services contribute to its earnings by expanding its reach and offering additional monetization opportunities.

Fox Financial Statement Overview

Summary

Profitability is solid with healthy TTM margins and strong ROE (~17%), leverage looks manageable (debt ~0.6x equity), and absolute free cash flow is strong (~$2.5B). Offsetting this, margins and cash conversion have been volatile, and the latest period shows revenue strength but weaker net income versus FY2025.

Income Statement

FOXA shows solid profitability with TTM (Trailing-Twelve-Months) operating and net margins around the high-teens and low-teens, respectively, supported by strong recent top-line momentum (TTM revenue growth of ~63% versus mid-teens in FY2025). That said, profitability has not scaled with revenue in the latest period (net income down versus FY2025), and margins have been volatile over the cycle (notably higher in FY2021 and meaningfully lower in FY2022–FY2024). Overall, the earnings profile is healthy but not consistently improving year to year.

Balance Sheet

Leverage looks manageable with debt at roughly 0.6x equity in both TTM (Trailing-Twelve-Months) and FY2025, an improvement from higher leverage levels seen in FY2023–FY2024. Returns on shareholder capital are strong (TTM return on equity ~17%), indicating efficient capital use. The main watch item is that debt remains sizable in absolute terms, and equity has moved around over time, so balance-sheet flexibility is good but not pristine.

Cash Flow

Cash generation is a clear strength: TTM (Trailing-Twelve-Months) free cash flow is substantial (~$2.5B) and tracks net income reasonably well (free cash flow at ~88% of net income), suggesting earnings are backed by cash. However, free cash flow growth is sharply negative in the TTM period (about -4.8x), and cash conversion has been inconsistent historically (operating cash flow relative to net income was notably weak in FY2023–FY2024). Strong absolute cash flow, but with volatility that tempers the score.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	16.30B	13.98B	14.91B	13.97B	12.91B
Gross Profit	5.40B	13.98B	14.91B	13.97B	12.91B
EBITDA	3.85B	2.90B	2.50B	2.43B	3.61B
Net Income	2.26B	1.50B	1.24B	1.21B	2.15B
Balance Sheet
Total Assets	23.20B	21.97B	21.87B	22.18B	22.93B
Cash, Cash Equivalents and Short-Term Investments	5.35B	4.32B	4.27B	5.20B	5.89B
Total Debt	7.46B	8.15B	8.21B	7.72B	8.45B
Total Liabilities	10.84B	10.92B	11.21B	10.62B	11.54B
Stockholders Equity	11.96B	10.71B	10.38B	11.34B	11.12B
Cash Flow
Free Cash Flow	2.99B	1.50B	1.44B	1.58B	2.15B
Operating Cash Flow	3.32B	1.84B	1.80B	1.88B	2.64B
Investing Cash Flow	-537.00M	-452.00M	-438.00M	-513.00M	-528.00M
Financing Cash Flow	-1.75B	-1.34B	-2.29B	-2.06B	-870.00M

Fox Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 67.73
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FOXA, the sentiment is Negative. The current price of 67.73 is below the 20-day moving average (MA) of 72.50, below the 50-day MA of 71.24, and above the 200-day MA of 60.75, indicating a neutral trend. The MACD of -0.40 indicates Positive momentum. The RSI at 31.72 is Neutral, neither overbought nor oversold. The STOCH value of 26.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FOXA.

Fox Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DIS	69 Neutral	$189.64B	15.36	11.65%	1.10%	3.61%	152.34%
NFLX	69 Neutral	$338.45B	31.72	42.76%	―	15.49%	35.54%
FOXA	68 Neutral	$28.44B	16.91	16.87%	0.75%	14.91%	9.30%
WBD	68 Neutral	$66.99B	144.08	1.36%	―	-4.29%	―
NWSA	66 Neutral	$14.50B	31.15	5.59%	0.76%	-16.36%	29.53%
ROKU	65 Neutral	$13.61B	-465.30	-1.09%	―	16.61%	83.98%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%

Fox Corporate Events

Fox Holds Annual Meeting, Elects Board Members

On November 14, 2025, Fox Company held its Annual Meeting of Stockholders where several key proposals were voted on. The election of directors saw Lachlan K. Murdoch, Tony Abbott AC, William A. Burck, Chase Carey, Roland A. Hernandez, Margaret “Peggy” L. Johnson, and Paul D. Ryan elected to the board. The stockholders also ratified Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2026. Additionally, the advisory vote on executive officer compensation was approved, and it was decided to hold such votes annually. However, stockholder proposals to improve the executive compensation program and to implement a simple majority vote did not pass.

The most recent analyst rating on (FOXA) stock is a Buy with a $77.00 price target. To see the full list of analyst forecasts on Fox stock, see the FOXA Stock Forecast page.