Communication Services · Broadcasting · US stock · price as of 16 Oct 2026
Key indicators
Price
$57.22
52-week range
$43.86 – $67.48
Market cap
$25.1B
P/E (trailing)
15.0×
EV / EBITDA
8.9×
Free-cash-flow yield
5.8%
Dividend yield
1.0%
Revenue (last 12 months)
$17.1B
Revenue growth (3y a year)
4.7%
Operating margin
15.6%
Return on invested capital
13.5%
Net debt / EBITDA
1.1×
Fair value
Blended fair value$129.89 range $115 – $147
Versus priceUndervalued+127% to fair value
Peer multiples
$83.92
Fundamentals-adjusted multiple
$123.05
10-year DCF (market-scaled)
$182.69
Earnings power value (floor, not blended)
$72.08
Model uncertainty
Medium
X-Ray Score
55/ 100 · High confidence · ahead of 56% of sector peers
Valuation78
Growth39
Profitability48
Financial health55
Dividends47
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Fox Corporation owns a television and digital media business in the United States. Its main assets are the Fox broadcast network, Fox News, Fox Business, Fox Sports, the Fox owned local stations and the Tubi streaming service. Revenue comes from advertising, fees paid by cable and satellite distributors for its channels, and affiliate fees from local stations, plus programming and sports rights it sells.
Over the last twelve months, $17.1 billion in revenue was reported. Across three years, revenue grew 4.7% a year. It posts an operating margin of 15.6%, with return on invested capital of 14%. Leverage, measured as net debt to EBITDA, is 1.1 times. The dividend yield is 1.0%.
StocksXray gives Fox Corp an X-Ray Score of 55 out of 100 (high confidence), ahead of 56% of the S&P 500 stocks in its sector. Its strongest lens is valuation (78) and its weakest is growth (39).
Our fair value blend is $129.89 (range $115.29 to $147.06). At $57.22 the stock trades 56% below that blend, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Fox Corp (FOX)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2022
FY2023
FY2024
FY2025
FY2026
Now
Price
$27.93
$30.46
$31.15
$50.84
$46.61
$57.22
Market cap
$15.9B
$16.2B
$15.0B
$23.4B
$20.5B
$25.1B
P/E
13.2×
13.1×
10.0×
10.4×
12.1×
15.0×
EV / revenue
1.3×
1.3×
1.3×
1.5×
1.3×
1.6×
EV / EBITDA
7.4×
7.7×
6.2×
6.4×
7.4×
8.9×
Price / free cash flow
10.1×
11.2×
10.0×
7.8×
13.9×
17.1×
Free-cash-flow yield
9.9%
8.9%
10.0%
12.8%
7.2%
5.8%
Price / book
1.4×
1.6×
1.4×
2.0×
1.8×
2.2×
Dividend yield
–
–
–
–
–
1.00%
Fundamentals checklist ● 4 Good · ● 9 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−1.3%Bad
Free-cash-flow yield5.8%Average
Risk models
Altman Z score4.3×Good
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)18.1%Average
Free-cash-flow growth (3y)0.6%Bad
Revenue growth (3y)4.7%Average
Growth consistency80%Average
Balance sheet
Current ratio3.2×Good
Net debt / EBITDA1.1×Average
Interest cover6.7×Average
Valuation
Fair value vs price2.3×Good
EBIT / EV yield9.4%Good
Profitability
Return on invested capital13.5%Average
Operating margin15.6%Average
XStocksXray
Fox Corp (FOX)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
FY26
LTM
Revenue
13,974
14,913
13,980
16,300
17,126
17,126
Gross profit
–
–
–
–
–
–
Operating income
2,071
2,085
2,509
3,464
2,679
2,679
Net income
1,205
1,239
1,501
2,263
1,685
1,685
Diluted EPS ($)
2.11
2.33
3.13
4.91
3.84
3.81
Free cash flow
1,577
1,443
1,495
2,993
1,468
1,468
Gross margin
–
–
–
–
–
–
Operating margin
14.8%
14.0%
17.9%
21.3%
15.6%
15.6%
Net margin
8.6%
8.3%
10.7%
13.9%
9.8%
9.8%
Balance sheet
FY22
FY23
FY24
FY25
FY26
LTM
Total assets
22,185
21,866
21,972
23,195
22,482
22,482
Cash
5,200
4,272
4,319
5,351
4,205
4,205
Total debt
7,206
7,210
7,197
6,602
6,606
6,606
Equity
11,339
10,378
10,714
11,962
11,628
11,628
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Margins blue gross, teal operating, brown net
Latest quarters
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026
Jun 2026
Revenue ($M)
4,371
3,287
3,738
5,182
3,994
4,212
Growth vs a year earlier
+26.8%
+6.3%
+4.9%
+2.0%
−8.6%
+28.1%
Net income ($M)
354
689
609
247
175
654
Diluted EPS ($)
0.75
–
1.32
0.52
0.38
–
XStocksXray
Fox Corp (FOX)
Peers in Broadcasting
Company
X-Ray
FOX · Fox Corp
55
Market Compass outlook for Communication Services: Favourable (76/100). It blends regime history, macro sensitivity, momentum and valuation.
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.