Communication Services · Publishing · US stock · price as of 16 Oct 2026
Key indicators
Price
$32.88
52-week range
$25.32 – $35.65
Market cap
$18.4B
P/E (trailing)
24.8×
EV / EBITDA
11.9×
Free-cash-flow yield
–
Dividend yield
0.6%
Revenue (last 12 months)
$9.0B
Revenue growth (3y a year)
4.1%
Operating margin
11.6%
Return on invested capital
7.9%
Net debt / EBITDA
0.5×
Fair value
Blended fair value$18.24 range $17 – $19
Versus priceOvervalued−45% to fair value
Peer multiples
$10.60
Fundamentals-adjusted multiple
$16.73
10-year DCF (market-scaled)
$27.38
Earnings power value (floor, not blended)
$11.54
Model uncertainty
High
X-Ray Score
45/ 100 · Medium confidence · ahead of 22% of sector peers
Valuation34
Growth48
Profitability37
Financial health52
Dividends67
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
News Corp is a global media and information services company. Its businesses include Dow Jones, publisher of The Wall Street Journal and Barron's, news media such as The Times and The Sun in the United Kingdom and The Australian, HarperCollins book publishing, and digital real estate services including REA Group and Realtor.com. Readers, advertisers, bookshops and property professionals are its main customers.
Revenue comes from subscriptions and advertising across its news and information products, from book sales, and from real estate listing fees. In the last twelve months it totalled $9.0 billion, growing at 4.1% a year across the last three years. The operating margin is 11.6%, and the business earns a profit of 8% on the capital invested in it. It has net debt of 0.5 times EBITDA. The company pays a dividend with a yield of 0.6%.
StocksXray gives News Corp an X-Ray Score of 45 out of 100 (medium confidence), ahead of 22% of the S&P 500 stocks in its sector. Its strongest lens is dividends (67) and its weakest is valuation (34).
Our fair value blend is $18.24 (range $16.74 to $19.47). At $32.88 the stock trades 80% above that blend, so the label is "Overvalued" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
News Corp (NWS)
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
$15.31
$19.23
$27.92
$33.98
$27.98
$32.88
Market cap
$9.1B
$11.1B
$16.0B
$19.4B
$15.6B
$18.4B
P/E
14.6×
74.0×
60.7×
16.4×
27.2×
24.8×
EV / revenue
1.3×
1.6×
2.1×
2.3×
1.8×
2.1×
EV / EBITDA
9.3×
15.6×
16.7×
14.1×
10.6×
12.4×
Price / free cash flow
8.7×
14.9×
21.6×
–
–
–
Free-cash-flow yield
11.5%
6.7%
4.6%
–
–
–
Price / book
1.1×
1.4×
2.0×
2.2×
1.8×
2.2×
Dividend yield
–
–
–
–
–
0.61%
Fundamentals checklist ● 1 Good · ● 7 Average · ● 4 Bad · each check graded against the sector
Risk models
Altman Z score2.4×Average
Piotroski F-Score5 of 9Bad
Growth
EPS growth (3y)58.2%Average
Revenue growth (3y)4.1%Average
Growth consistency80%Average
Balance sheet
Current ratio1.6×Average
Net debt / EBITDA0.5×Average
Interest coverno interest costGood
Valuation
Fair value vs price0.6×Bad
EBIT / EV yield5.3%Average
Profitability
Return on invested capital7.9%Bad
Operating margin11.6%Bad
XStocksXray
News Corp (NWS)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
FY26
LTM
Revenue
8,437
8,012
8,252
8,452
9,028
9,028
Gross profit
–
–
–
–
–
–
Operating income
837
380
585
923
1,046
1,046
Net income
760
187
354
1,340
743
743
Diluted EPS ($)
1.05
0.26
0.46
2.07
1.03
1.33
Free cash flow
1,044
745
741
–
–
–
Gross margin
–
–
–
–
–
–
Operating margin
9.9%
4.7%
7.1%
10.9%
11.6%
11.6%
Net margin
9.0%
2.3%
4.3%
15.9%
8.2%
8.2%
Balance sheet
FY22
FY23
FY24
FY25
FY26
LTM
Total assets
17,221
16,921
16,684
15,504
15,544
15,544
Cash
1,771
1,761
1,872
2,403
2,095
2,095
Total debt
3,069
2,189
2,102
1,962
1,989
1,989
Equity
8,222
8,064
8,120
8,774
8,526
8,526
Dividend per share ($)
–
–
–
–
–
–
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 ($M)
2,009
2,109
2,144
2,362
2,185
2,337
Growth vs a year earlier
+0.8%
+0.8%
+2.3%
+5.5%
+8.8%
+10.8%
Net income ($M)
103
743
112
193
89
349
Diluted EPS ($)
0.18
1.31
0.20
0.34
0.16
–
XStocksXray
News Corp (NWS)
Peers in Publishing
Company
X-Ray
NWS · News Corp
45
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.