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Fox Corporation operates as a news, sports, and entertainment company in the United States. It operates in four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators, telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms. Its Television segment produces, acquires, markets, and distributes programming through the FOX broadcast network, advertising-supported video-on-demand service Tubi, and operates full power broadcast television stations, including duopolies and other digital platforms. This segment also produces content for third parties. The Credible segment engages in the consumer finance marketplace. Its FOX Studio Lot segment provides television and film production services along with office space, studio operation services, and all operations of the facility. Fox Corporation was incorporated in 2018 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $16.3B | $3.8B | $2.3B | $3.0B | 18.9% | 16.6% | 50.8% |
| 2024 | $14.0B | $2.9B | $1.5B | $1.5B | 14.0% | -6.3% | 21.1% |
| 2023 | $14.9B | $2.5B | $1.2B | $1.4B | 11.9% | 6.7% | 2.8% |
| 2022 | $14.0B | $2.4B | $1.2B | $1.6B | 10.6% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 13,974 | 14,913 | 13,980 | 16,300 |
| Operating Revenue | - | 12,778 | 14,913 | 12,768 | 14,521 |
| Operating Expense | - | 11,400 | 12,149 | 11,502 | 13,071 |
| Selling General And Administration | - | 1,920 | 2,049 | 2,024 | 2,168 |
| Total Expenses | - | 11,400 | 12,149 | 11,502 | 13,071 |
| Operating Income | - | 2,574 | 2,764 | 2,478 | 3,229 |
| EBITDA | - | 2,434 | 2,496 | 2,898 | 3,849 |
| Normalized EBITDA | - | 2,932 | 3,275 | 2,988 | 3,750 |
| EBIT | - | 2,071 | 2,085 | 2,509 | 3,464 |
| Interest Income | - | 6 | 131 | 189 | 176 |
| Interest Expense | - | 377 | 349 | 405 | 403 |
| Net Interest Income | - | -371 | -218 | -216 | -227 |
| Other Non Operating Income Expenses | - | -15 | -35 | -24 | -11 |
| Other Income Expense | - | -509 | -810 | -158 | 59 |
| Interest Income Non Operating | - | 6 | 131 | 189 | 176 |
| Interest Expense Non Operating | - | 377 | 349 | 405 | 403 |
| Net Non Operating Interest Income Expense | - | -371 | -218 | -216 | -227 |
| Pretax Income | - | 1,694 | 1,736 | 2,104 | 3,061 |
| Tax Provision | - | 461 | 483 | 550 | 768 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -134.46 | -216.74 | -23.53 | 24.75 |
| Net Income Continuous Operations | - | 1,233 | 1,253 | 1,554 | 2,293 |
| Net Income From Continuing And Discontinued Operation | - | 1,205 | 1,239 | 1,501 | 2,263 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,205 | 1,239 | 1,501 | 2,263 |
| Net Income | - | 1,205 | 1,239 | 1,501 | 2,263 |
| Net Income Common Stockholders | - | 1,205 | 1,239 | 1,501 | 2,263 |
| Net Income Including Noncontrolling Interests | - | 1,233 | 1,253 | 1,554 | 2,293 |
| Normalized Income | - | 1,568.54 | 1,801.26 | 1,567.47 | 2,188.75 |
| Diluted NI Availto Com Stockholders | - | 1,205 | 1,239 | 1,501 | 2,263 |
| Basic Average Shares | - | 570 | 531 | 480 | 455 |
| Diluted Average Shares | - | 570 | 531 | 480 | 461 |
| Reconciled Depreciation | - | 363 | 411 | 389 | 385 |
| Total Unusual Items | - | -498 | -779 | -90 | 99 |
| Total Unusual Items Excluding Goodwill | - | -498 | -779 | -90 | 99 |
| Minority Interests | - | -28 | -14 | -53 | -30 |
| Special Income Charges | - | -112 | -1,182 | 99 | -350 |
| Other Special Charges | - | 157 | 1,071 | 54 | 247 |
| Write Off | 35 | 0 | 111 | - | - |
| Impairment Of Capital Assets | - | - | 0 | 0 | 68 |
| Restructuring And Mergern Acquisition | - | 0 | 111 | 13 | 35 |
| Gain On Sale Of Security | - | -386 | 403 | -189 | 449 |
| Depreciation Amortization Depletion Income Statement | - | 363 | 411 | 389 | 385 |
| Depreciation And Amortization In Income Statement | - | 363 | 411 | 389 | 385 |
| General And Administrative Expense | 1,807 | - | - | - | - |
| Other Gand A | 1,807 | - | - | - | - |
| Gain On Sale Of Ppe | - | 45 | 0 | 166 | 0 |
| Other Operating Expenses | - | 9,117 | 9,689 | 9,089 | 10,518 |
| Earnings From Equity Interest | - | 4 | 4 | -44 | -29 |
| Amortization | - | 66 | 74 | 45 | 35 |
| Amortization Of Intangibles Income Statement | - | 66 | 74 | 45 | 35 |
| Depreciation Income Statement | - | 297 | 337 | 344 | 350 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Fox Corporationthis co. | FOX | $24.7B | 10.90↓ discount | 2.06 | 18.9% | 6.96 |
| Live Nation Entertainment, Inc. | LYV | $37.5B | 75.55 | 138.26 | 183.0% | 20.54 |
| EchoStar Corporation | SATS | $36.1B | -2.49 | 6.26 | -251.4% | -4.08 |
| Fox Corporation | FOXA | $27.5B | 12.17 | 2.30 | 18.9% | 7.70 |
| Omnicom Group Inc. | OMC | $21.6B | - |
| - |
| - |
| - |
| - |
| 1.79 |
| -0.5% |
| 31.05 |
| Charter Communications, Inc. | CHTR | $20.2B | 4.05 | 1.26 | 31.1% | 5.51 |
| News Corporation | NWS | $16.8B | 14.22 | 1.91 | 13.4% | 12.24 |
| News Corporation | NWSA | $14.6B | 12.40 | 1.67 | 13.4% | 10.72 |
| Paramount Skydance Corporation | PSKY | $12.0B | - | 1.02 | -53.1% | - |
| Peer Median | - | 12.28 | 1.85 | 13.4% | 10.72 | |