Upside case
Bull case
$181+222.2%
FOX would need investors to value it at roughly 39x earnings — about 27x more generous than today's 12x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewHoldUpdated May 1, 2026
Fox Corporation (FOX) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
42
analysts
18 bullish · 4 bearish · 42 covering FOX
Strong Buy
0
Buy
18
Hold
20
Sell
4
Strong Sell
0
Consensus Target
$79
+40.5% vs today
Scenario Range
$88 – $181
Model bear to bull value window
Coverage
42
Published analyst ratings
Valuation Context
12.1x
Forward P/E · Market cap $13.2B
FOX price targets
Three scenarios for where FOX stock could go
Current
~$56
Confidence
57 / 100
Updated
May 1, 2026
Where we are now
Current · $56
Bear
$88
Base
$116
Bull
$181
Market caseClosest to today
Base case
$116+105.8%
At 25x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$88+56.2%
The bear case assumes sentiment or fundamentals disappoint enough to push FOX down roughly 56% from the current price.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Fox Corporation
FOX · NASDAQCommunication ServicesEntertainmentJune year-end
Fox Corporation is a major media company that operates news, sports, and entertainment networks and broadcast television. It generates revenue primarily through cable affiliate fees from distributors like cable and satellite providers—which account for most of its income—and advertising sales across its broadcast and cable networks. The company's key advantage is its powerful brand recognition in news and sports, particularly with Fox News' dominant position in cable news and its extensive sports rights portfolio including NFL games.
Market Cap
$13.2B
Revenue TTM
$16.6B
Net Income TTM
$1.9B
Net Margin
11.4%
FOX Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
83%Exceptional
vs consensus estimates
Avg EPS Surprise
+36.8%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 4 of 4Q2 2025
EPS
$1.10/$0.92
Revenue
$4.4B/$4.2B
Q3 2025
EPS
$1.27/$0.99
Revenue
$3.3B/$3.1B
Q4 2025
EPS
$1.51/$1.11
Revenue
$3.7B/$3.6B
Q1 2026
EPS
$0.82/$0.51
Revenue
$5.2B/$5.1B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $1.10/$0.92 | +20.0% | $4.4B/$4.2B | +4.0% |
| Q3 2025 | $1.27/$0.99 | +27.6% | $3.3B/$3.1B | +5.2% |
| Q4 2025 | $1.51/$1.11 | +36.0% | $3.7B/$3.6B | +4.8% |
| Q1 2026 | $0.82/$0.51 | +60.8% | $5.2B/$5.1B | +2.4% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$18.1B
+9.1% YoY
FY2
$19.9B
+10.1% YoY
EPS Outlook
FY1
$8.70
+102.8% YoY
FY2
$10.11
+16.2% YoY
Trailing FCF (TTM)$2.5B
FCF Margin: 15.3%
Next Earnings
May 11, 2026
Expected EPS
$0.99
Expected Revenue
$3.8B
FOX beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
FOX Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $16.3B
Product Mix
Latest annual revenue by segment or product family
Television Segment
57.4%
+18.4% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Television Segment is the largest disclosed segment at 57.4% of FY 2025 revenue, up 18.4% YoY.
FOX Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $96 — implies +68.4% from today's price.
Upside to Fair Value
68.4%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
FOX
11.5x
vs
S&P 500
25.2x
55% discount
vs Communication Services Trailing P/E
FOX
11.5x
vs
Communication Services
15.5x
26% discount
vs FOX 5Y Avg P/E
Today
11.5x
vs
5Y Average
11.7x
In line with benchmark
Forward PE
12.1x
S&P 500
19.1x
-36%
Communication Services
13.1x
-7%
5Y Avg
—
—
Trailing PE
11.5x
S&P 500
25.2x
-55%
Communication Services
15.5x
-26%
5Y Avg
11.7x
-2%
PEG Ratio
0.46x
S&P 500
1.75x
-74%
Communication Services
0.66x
-30%
5Y Avg
—
—
EV/EBITDA
4.2x
S&P 500
15.3x
-72%
Communication Services
8.7x
-51%
5Y Avg
6.9x
-39%
Price/FCF
4.4x
S&P 500
21.3x
-79%
Communication Services
11.6x
-62%
5Y Avg
10.1x
-56%
Price/Sales
0.8x
S&P 500
3.1x
-74%
Communication Services
1.0x
-23%
5Y Avg
1.3x
-38%
Dividend Yield
1.07%
S&P 500
1.88%
-43%
Communication Services
3.38%
-68%
5Y Avg
1.63%
-34%
| Metric | FOX | S&P 500 | Communication Services | 5Y Avg FOX |
|---|---|---|---|---|
| Forward PE | 12.1x | 19.1x-36% | 13.1x | — |
| Trailing PE | 11.5x | 25.2x-55% | 15.5x-26% | 11.7x |
| PEG Ratio | 0.46x | 1.75x-74% | 0.66x-30% | — |
| EV/EBITDA | 4.2x | 15.3x-72% | 8.7x-51% | 6.9x-39% |
| Price/FCF | 4.4x | 21.3x-79% | 11.6x-62% | 10.1x-56% |
| Price/Sales | 0.8x | 3.1x-74% | 1.0x-23% | 1.3x-38% |
| Dividend Yield | 1.07% | 1.88% | 3.38% | 1.63% |
FOX trades above S&P 500 benchmarks on 0 of 6 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolFOX Financial Health
Verdict
Exceptional
FOX generates $2.5B in free cash flow at a 15.3% margin — 16.5% ROIC signals a durable competitive advantage · returns 8.6% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$16.6B
Revenue Growth
TTM vs prior year
+9.2%
Gross Margin
Gross profit as a share of revenue
33.1%
Operating Margin
Operating income divided by revenue
19.0%
Net Margin
Net income divided by revenue
11.4%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$4.29
Free Cash Flow (TTM)
Cash generation after capex
$2.5B
FCF Margin
FCF as share of revenue — the primary cash quality signal
15.3%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
16.5%
ROA
Return on assets, trailing twelve months
8.8%
Cash & Equivalents
Liquid assets on the balance sheet
$5.4B
Net Debt
Total debt minus cash
$2.1B
Debt Serviceability
Net debt as a multiple of annual free cash flow
0.8× FCF
~0.8 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
17.0%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
8.6%
Dividend
1.1%
Buyback
7.6%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$1.0B
Dividend / Share
Annualized trailing dividend per share
$0.60
Payout Ratio
Share of earnings distributed as dividends
12.2%
Shares Outstanding
Declining as buybacks retire shares
235M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageFOX Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Legal and Regulatory Issues
Fox is exposed to numerous lawsuits and must comply with various regulatory requirements, which can lead to substantial legal expenses and operational disruptions. These factors could significantly impact the company's financial performance.
High Risk
Market Competition
Operating in a highly competitive media and entertainment sector, Fox faces pressure from established giants and emerging digital players. This intense competition can adversely affect audience engagement, content acquisition, and ultimately, advertising revenue.
High Risk
Dependence on Key Content
Fox's reliance on major content, such as NFL rights and Fox News, creates vulnerability, particularly with upcoming renegotiations for media rights. These negotiations could significantly impact profit margins and overall financial stability.
Medium
Streaming Market Dynamics
The streaming sector is experiencing shifts, including a slight contraction in overall usage and increased consumer price sensitivity. These dynamics present challenges for subscriber growth and demand for Fox's streaming services.
Medium
Shifting Consumer Preferences
The ongoing trend of cord-cutting and evolving viewer habits are putting pressure on traditional television revenue streams. This shift could lead to a decline in revenue from conventional broadcasting.
Medium
Advertising Market Volatility
Advertising expenditures are sensitive to overall economic conditions, and potential future economic downturns could negatively impact advertiser spending. This volatility poses a risk to Fox's advertising revenue.
Lower
Technological and Digital Transformation
The industry's shift away from third-party cookies requires innovative approaches to audience targeting and brand engagement. Failure to adapt could hinder Fox's ability to effectively reach its audience.
Lower
Internal Governance
Potential trust issues related to the Murdoch family could influence strategic decision-making and delay merger and acquisition activities. This uncertainty may impact the company's long-term strategic direction.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why FOX Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Strong Cable Network Programming
Fox's cable network programming, including Fox News and Fox Sports, is a key revenue driver, generating $6.93 billion in revenue and $3.03 billion in EBITDA for fiscal year 2025. Analysts estimate this segment's value at approximately $27.2 billion, highlighting its strength in earnings and cash flow.
Undervalued Tubi Streaming Platform
Tubi has surpassed $1 billion in revenue for fiscal year 2025, capturing about 2.2% of U.S. television viewing. With a 19% increase in revenue and 27%-28% growth in total view time over the past year, Tubi's profitability and unique audience position it well for future growth.
Resilient Television Segment
The Television segment, while not as strong as cable, still generated $9.33 billion in revenue and $945 million in EBITDA in fiscal year 2025. This segment holds valuable monetizable assets that contribute to the overall financial health of Fox Corporation.
Financial Strength and Shareholder Returns
Fox Corporation boasts a robust balance sheet with a current ratio of 2.78 and a quick ratio of 2.44, indicating strong liquidity. In fiscal Q2 2026, the company executed $1.8 billion in share buybacks, demonstrating its commitment to returning value to shareholders.
Positive Analyst Sentiment and Potential Catalysts
Despite mixed ratings, many analysts view FOX positively, with average price targets indicating significant upside. Upcoming catalysts include a strong political advertising cycle for the 2026 midterms, which is expected to benefit both local stations and Tubi.
Historical Performance and Technical Indicators
Historically, FOX stock has shown resilience, often rebounding strongly after pullbacks. Current technical indicators, such as the relative strength index (RSI), suggest that the stock may be oversold, indicating potential for a price rebound.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
FOX Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$56.22
52W Range Position
48%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$45.16
+24.5% from the low
52-Week High
$68.17
-17.5% from the high
1 Month
+5.12%
3 Month
-3.65%
YTD
-14.8%
1 Year
+22.3%
3Y CAGR
+23.9%
5Y CAGR
+8.9%
10Y CAGR
+6.7%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
FOX vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
12.1x
vs 12.5x median
-3% below peer median
Revenue Growth
+9.1%
vs -0.8% median
+1238% above peer median
Net Margin
11.4%
vs 11.5% median
-1% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
FOX FOX Fox Corporation | $13.2B | 12.1x | +9.1% | 11.4% | Hold | +40.5% |
WBD WBD Warner Bros. Discovery, Inc. | $68.2B | — | +10.7% | 1.9% | Hold | +10.1% |
DIS DIS The Walt Disney Company | $191.3B | 16.4x | +4.5% | 11.5% | Buy | +29.2% |
CMC CMCSA Comcast Corporation | $96.3B | 7.5x | -1.0% | 14.8% | Buy | +20.5% |
NWS NWSA News Corporation | $14.9B | 25.0x | -1.0% | 12.2% | Buy | +23.7% |
SIR SIRI Sirius XM Holdings Inc. | $9.0B | 8.5x | -0.8% | 9.9% | Buy | +0.3% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
FOX Dividend and Capital Return
FOX returns capital mainly through $1.0B/year in buybacks (7.6% buyback yield), with a modest 1.07% dividend — combining for 8.6% total shareholder yield. The dividend has grown for 5 consecutive years.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
8.6%
Dividend + buyback return per year
Buyback Yield
7.6%
Dividend Yield
1.07%
Payout Ratio
12.2%
How FOX Splits Its Return
Div 1.07%
Buyback 7.6%
Dividend 1.07%Buybacks 7.6%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.60
Growth Streak
Consecutive years of dividend increases
5Y
3Y Div CAGR
3.9%
5Y Div CAGR
3.6%
Ex-Dividend Date
—
Payment Cadence
Semi-Annual
2 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$1.0B
Estimated Shares Retired
18M
Approx. Share Reduction
7.6%
Shares Outstanding
Current diluted share count from the screening snapshot
235M
At 7.6%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.28 | — | — | — |
| 2025 | $0.55 | +3.8% | 4.2% | 5.4% |
| 2024 | $0.53 | +3.9% | 6.5% | 8.3% |
| 2023 | $0.51 | +4.1% | 11.8% | 13.6% |
| 2022 | $0.49 | +4.3% | 5.9% | 7.7% |
FAQ
7 questionsFOX Investor Questions
Common questions answered from live analyst data and company financials.
01Is Fox Corporation (FOX) stock a buy or sell in 2026?
Fox Corporation (FOX) is rated Hold by Wall Street analysts as of 2026. Of 42 analysts covering the stock, 18 rate it Buy or Strong Buy, 20 rate it Hold, and 4 rate it Sell or Strong Sell. The consensus 12-month price target is $79, implying +40.5% from the current price of $56. The bear case scenario is $88 and the bull case is $181.
02What is the FOX stock price target for 2026?
The Wall Street consensus price target for FOX is $79 based on 42 analyst estimates. The high-end target is $85 (+51.2% from today), and the low-end target is $73 (+29.8%). The base case model target is $116.
03Is Fox Corporation (FOX) stock overvalued in 2026?
FOX trades at 12.1x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Fox Corporation (FOX) stock in 2026?
The primary risks for FOX in 2026 are: (1) Legal and Regulatory Issues — Fox is exposed to numerous lawsuits and must comply with various regulatory requirements, which can lead to substantial legal expenses and operational disruptions. (2) Market Competition — Operating in a highly competitive media and entertainment sector, Fox faces pressure from established giants and emerging digital players. (3) Dependence on Key Content — Fox's reliance on major content, such as NFL rights and Fox News, creates vulnerability, particularly with upcoming renegotiations for media rights. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Fox Corporation's revenue and earnings forecast?
Analyst consensus estimates FOX will report consensus revenue of $18.1B (+9.1% year-over-year) and EPS of $8.70 (+102.8% year-over-year) for the upcoming fiscal year. The following year, analysts project $19.9B in revenue.
06When does Fox Corporation (FOX) report its next earnings?
Fox Corporation is expected to report its next earnings on approximately 2026-05-11. Consensus expects EPS of $0.99 and revenue of $3.8B. Over recent quarters, FOX has beaten EPS estimates 100% of the time.
07How much free cash flow does Fox Corporation generate?
Fox Corporation (FOX) generated $2.5B in free cash flow over the trailing twelve months — a free cash flow margin of 15.3%. FOX returns capital to shareholders through dividends (1.1% yield) and share repurchases ($1.0B TTM).