Latest Ratios: P/E Ratio 12.6x · EV/EBITDA 6.5x · ROE 13.9%. (2017–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $26.1B | $20.2B | $23.8B | $15.4B | $16.9B | $16.9B | $20.9B | $16.5B | $22.7B | $30.5B | $17.3B |
| Enterprise Value | $29.5B | $23.6B | $25.9B | $19.2B | $20.9B | $19.4B | $23.5B | $20.4B | $26.2B | $28.0B | $17.3B |
| P/E Ratio → | 12.55 | 12.01 | 10.52 | 10.23 | 13.69 | 14.08 | 9.75 | 16.57 | 14.21 | 13.96 | 12.61 |
| P/S Ratio | 1.45 | 1.18 | 1.46 | 1.10 | 1.14 | 1.21 | 1.62 | 1.34 | 1.99 | 3.01 | 1.74 |
| P/B Ratio | 2.18 | 1.71 | 1.93 | 1.39 | 1.59 | 1.46 | 1.84 | 1.59 | 2.24 | 3.10 | 2.77 |
| P/FCF | 11.83 | 13.78 | 7.95 | 10.28 | 11.73 | 10.73 | 9.72 | 8.24 | 9.91 | 27.72 | 11.80 |
| P/OCF | 13.24 | 10.27 | 7.16 | 8.35 | 9.41 | 8.99 | 7.94 | 6.99 | 8.99 | 23.19 | 10.44 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.38 | 1.59 | 1.37 | 1.40 | 1.39 | 1.82 | 1.66 | 2.30 | 2.76 | 1.74 |
| EV / EBITDA | 6.47 | 5.48 | 6.50 | 5.95 | 5.85 | 5.89 | 7.00 | 6.76 | 9.06 | 10.75 | 5.89 |
| EV / EBIT | 7.56 | 6.80 | 8.28 | 7.86 | 7.81 | 7.82 | 8.59 | 8.23 | 10.78 | 12.66 | 6.81 |
| EV / FCF | — | 16.07 | 8.66 | 12.84 | 14.46 | 12.33 | 10.91 | 10.17 | 11.45 | 25.45 | 11.79 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.6% | 36.6% | 35.5% | 35.0% | 35.0% | 34.8% | 37.7% | 36.5% | 35.7% | 35.9% | 38.5% |
| Operating Margin | 22.7% | 22.7% | 22.1% | 20.3% | 21.1% | 20.9% | 23.5% | 22.3% | 23.2% | 23.5% | 27.3% |
| Net Profit Margin | 9.8% | 9.8% | 13.9% | 10.7% | 8.3% | 8.6% | 16.7% | 8.1% | 14.0% | 21.5% | 13.8% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.9% | 13.9% | 19.3% | 13.8% | 11.2% | 10.5% | 19.7% | 9.7% | 15.9% | 27.1% | 22.0% |
| ROA | 7.4% | 7.4% | 10.0% | 6.8% | 5.6% | 5.3% | 9.6% | 4.8% | 9.8% | 18.6% | 13.3% |
| ROIC | 19.7% | 19.7% | 18.4% | 14.5% | 16.4% | 15.6% | 16.1% | 14.7% | 18.8% | 26.3% | 32.6% |
| ROCE | 19.4% | 19.4% | 18.3% | 15.3% | 16.5% | 14.7% | 15.3% | 14.5% | 18.1% | 24.3% | 32.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.64 | 0.64 | 0.60 | 0.74 | 0.77 | 0.67 | 0.74 | 0.82 | 0.67 | — | — |
| Debt / EBITDA | 1.76 | 1.76 | 1.87 | 2.52 | 2.30 | 2.34 | 2.52 | 2.82 | 2.33 | — | — |
| Net Debt / Equity | — | 0.28 | 0.17 | 0.35 | 0.37 | 0.22 | 0.23 | 0.37 | 0.35 | -0.25 | -0.00 |
| Net Debt / EBITDA | 0.78 | 0.78 | 0.53 | 1.19 | 1.10 | 0.76 | 0.76 | 1.28 | 1.22 | -0.96 | -0.01 |
| Debt / FCF | — | 2.29 | 0.71 | 2.56 | 2.73 | 1.60 | 1.19 | 1.93 | 1.54 | -2.27 | -0.01 |
| Interest Coverage | 10.72 | 10.72 | 7.76 | 6.03 | 7.65 | 6.60 | 6.93 | 6.72 | 11.98 | 51.51 | 110.22 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.17 | 3.17 | 2.91 | 2.54 | 1.93 | 3.61 | 2.91 | 3.93 | 3.78 | 3.17 | 1.37 |
| Quick Ratio | 2.99 | 2.99 | 2.76 | 2.33 | 1.78 | 3.26 | 2.67 | 3.48 | 3.12 | 2.50 | 0.86 |
| Cash Ratio | 1.58 | 1.58 | 1.85 | 1.46 | 1.14 | 2.26 | 1.96 | 2.44 | 1.89 | 1.42 | 0.01 |
| Asset Turnover | — | 0.76 | 0.70 | 0.64 | 0.68 | 0.63 | 0.56 | 0.57 | 0.58 | 0.77 | 0.96 |
| Inventory Turnover | 22.29 | 22.29 | 24.35 | 14.52 | 17.84 | 11.53 | 11.02 | 9.12 | 6.49 | 5.51 | 5.80 |
| Days Sales Outstanding | — | 73.64 | 55.35 | 61.72 | 53.28 | 55.58 | 57.37 | 56.01 | 63.04 | 65.90 | 62.29 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.1% | 1.4% | 1.2% | 1.8% | 1.8% | 1.8% | 1.6% | 2.0% | 29.5% | 0.3% | 0.2% |
| Payout Ratio | 17.0% | 17.0% | 12.2% | 18.7% | 24.1% | 25.5% | 15.3% | 33.5% | 419.3% | 3.5% | 2.6% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.0% | 8.3% | 9.5% | 9.8% | 7.3% | 7.1% | 10.3% | 6.0% | 7.0% | 7.2% | 7.9% |
| FCF Yield | 8.5% | 7.3% | 12.6% | 9.7% | 8.5% | 9.3% | 10.3% | 12.1% | 10.1% | 3.6% | 8.5% |
| Buyback Yield | 7.7% | 9.9% | 4.2% | 6.5% | 11.8% | 5.9% | 4.8% | 3.6% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 8.8% | 11.3% | 5.4% | 8.3% | 13.6% | 7.7% | 6.4% | 5.7% | 29.5% | 0.3% | 0.2% |
| Shares Outstanding | — | $432M | $461M | $480M | $531M | $570M | $595M | $616M | $621M | $620M | $620M |
Includes 30+ ratios · 10 years · Updated daily
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Quick answers to the most common questions about buying FOX stock.
Fox Corporation's current P/E ratio is 12.6x. The historical average is 12.8x. This places it at the 40th percentile of its historical range.
Fox Corporation's current EV/EBITDA is 6.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.9x.
Fox Corporation's return on equity (ROE) is 13.9%. The historical average is 16.3%.
Based on historical data, Fox Corporation is trading at a P/E of 12.6x. This is at the 40th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Fox Corporation's current dividend yield is 1.12% with a payout ratio of 17.0%.
Fox Corporation has 36.6% gross margin and 22.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Fox Corporation's Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Sports rights cost inflation
Metrics are mathematically derived from official filings.
Discounted Multiples Reflect Cyclical Earnings
FOX trades at a 15.38 trailing P/E and 6.24 EV/EBITDA according to the supplied market data, a discount to Disney's 17.11 P/E and 12.70 EV/EBITDA that suggests investors price in event-driven earnings volatility rather than a steady compounding profile.
The 9.97 forward P/E sits well below the trailing multiple, implying the market expects earnings to decline or normalize after the strong fiscal 2026 World Cup period. The 9.88 PEG is elevated relative to a mature media profile, which indicates the growth implied by current pricing is not supported by the consistent top-line trajectory visible in the quarterly ratios. Investors should monitor whether the discount is a fair reflection of linear decline risk or an overly pessimistic read of the recurring affiliate base.
Margins Swing With the Event Calendar
Operating margin ranged from 11.4% in 2026Q2 to 32.9% in 2027Q1 across the supplied ten quarters, and this spread appears driven by sports and political advertising timing rather than a steady underlying expansion in earning power.
Gross margin moved between 22.9% and 43.5% over the same period, indicating that the amortization of sports rights is absorbed unevenly against peak advertising quarters. Net margin of 20.6% in 2027Q1 compared with 4.2% in 2026Q3 suggests that reported profitability is heavily dependent on which quarter is measured, so a trailing-twelve-month view is a more reliable basis for earning power than any single period. Adjusting for the cyclical political and NFL peaks would likely produce a more moderate normalized margin than headline figures imply.
Returns Recovering From Trough Levels
ROIC improved from 2.7% in 2026Q2 to 7.3% in 2027Q1 according to the reported ratio data, a recovery that remains modest against Disney's 6.8% and Comcast's 8.2%, indicating returns are not yet clearly compounding.
ROE of 7.7% in the latest quarter against a 1.5% trough shows a sharp swing that is mostly a function of quarterly earnings timing rather than a structural improvement in capital efficiency. ROA near 4% reflects an asset base heavy in goodwill and content rights, which dilutes returns relative to asset-light peers. The trend warrants monitoring over a full cycle before concluding returns are durably improving.
Conservative Leverage Supports Balance Sheet
Debt-to-equity compressed from 0.74 in 2024Q4 to 0.60 in 2027Q1 and interest coverage reached 12.25x in the latest quarter, figures that suggest debt service is comfortable on reported numbers.
The modest leverage profile, with D/EBITDA moving between 4.67x and 12.06x, reflects a debt stack that has remained broadly fixed while equity and earnings absorb the volatility. Interest coverage dipping to 4.51x in 2026Q2 shows that trough-quarter earnings can compress cushion quickly, even if the average remains strong. Refinancing risk appears limited on current figures, though the metric is sensitive to the timing of event-driven EBITDA.
Liquidity Ample but Timing Dependent
The current ratio ranged from 2.45 to 3.79 across the supplied quarters and quick ratio stayed above 2.1, figures that indicate short-term obligations are well covered on reported balances even at seasonal lows.
Cash swinging from roughly $2.0B to $5.4B across quarters implies that the liquidity cushion is real but depends on where the company sits in the advertising and sports cycle. The consistently high quick ratio suggests inventory-like assets are not a meaningful dependence, since the business holds content rights rather than physical stock. Under severe stress, the liquidity position would likely hold for near-term obligations, though the size of the rights commitments relative to cash warrants further investigation.
Most Misapplied Metric: Forward P/E
Forward P/E of 9.97 is the metric most commonly misapplied to FOX, because it assumes a smooth earnings path when quarterly results depend heavily on the timing of event-driven advertising and sports rights amortization.
Using forward P/E as a valuation anchor can make the stock appear cheap if near-term earnings are inflated by a peak event quarter such as the World Cup, which the supplied data links to the 1.79 Q4 EPS beat. A more reliable approach would normalize earnings across a full political and sports cycle, or use EV/EBITDA adjusted for the sports rights amortization schedule. Investors should treat the low forward multiple as conditional on event timing rather than as evidence of mispricing.