Latest Ratios: P/E Ratio 14.1x · EV/EBITDA 7.2x · 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 | $29.2B | $22.5B | $25.8B | $16.5B | $18.1B | $18.3B | $22.1B | $16.5B | $22.8B | — | — |
| Enterprise Value | $32.6B | $25.9B | $27.9B | $20.3B | $22.0B | $20.8B | $24.7B | $20.4B | $26.3B | — | — |
| P/E Ratio → | 14.06 | 13.37 | 11.41 | 10.98 | 14.59 | 15.24 | 10.29 | 16.56 | 14.26 | — | — |
| P/S Ratio | 1.63 | 1.32 | 1.58 | 1.18 | 1.21 | 1.31 | 1.71 | 1.34 | 2.00 | — | — |
| P/B Ratio | 2.44 | 1.91 | 2.09 | 1.49 | 1.69 | 1.59 | 1.94 | 1.59 | 2.24 | — | — |
| P/FCF | 13.25 | 15.35 | 8.63 | 11.04 | 12.51 | 11.62 | 10.25 | 8.24 | 9.94 | — | — |
| P/OCF | 14.83 | 11.44 | 7.77 | 8.97 | 10.03 | 9.73 | 8.37 | 6.99 | 9.01 | — | — |
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 | — | 1.51 | 1.71 | 1.45 | 1.47 | 1.49 | 1.91 | 1.66 | 2.31 | — | — |
| EV / EBITDA | 7.16 | 6.02 | 7.01 | 6.29 | 6.16 | 6.32 | 7.34 | 6.75 | 9.08 | — | — |
| EV / EBIT | 8.37 | 7.46 | 8.93 | 8.33 | 8.23 | 8.38 | 9.01 | 8.22 | 10.81 | — | — |
| EV / FCF | — | 17.64 | 9.34 | 13.60 | 15.24 | 13.22 | 11.44 | 10.17 | 11.48 | — | — |
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 | 1.0% | 1.3% | 1.1% | 1.7% | 1.7% | 1.7% | 1.5% | 2.0% | 29.4% | — | — |
| 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 | 7.1% | 7.5% | 8.8% | 9.1% | 6.9% | 6.6% | 9.7% | 6.0% | 7.0% | — | — |
| FCF Yield | 7.5% | 6.5% | 11.6% | 9.1% | 8.0% | 8.6% | 9.8% | 12.1% | 10.1% | — | — |
| Buyback Yield | 6.8% | 8.9% | 3.9% | 6.1% | 11.1% | 5.5% | 4.5% | 3.6% | 0.0% | — | — |
| Total Shareholder Yield | 7.8% | 10.1% | 4.9% | 7.8% | 12.7% | 7.1% | 6.0% | 5.7% | 29.4% | — | — |
| Shares Outstanding | — | $432M | $461M | $480M | $531M | $570M | $595M | $616M | $621M | $620M | $620M |
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Quick answers to the most common questions about buying FOXA stock.
Fox Corporation's current P/E ratio is 14.1x. The historical average is 13.3x. This places it at the 50th percentile of its historical range.
Fox Corporation's current EV/EBITDA is 7.2x. 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 14.1x. This is at the 50th 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 1.00% 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
Event-driven earnings volatility and litigation exposure
Metrics are mathematically derived from official filings.
Earnings-Based Multiples Look Modest Versus Peers
Based on reported figures, FOXA trades at a trailing P/E of 17.62 and forward P/E of 11.26, a discount to Disney's 17.11 trailing multiple only at the forward level, while EV/EBITDA of 8.54 sits well below Warner Bros. Discovery's 15.10.
The gap between trailing and forward P/E suggests the market expects earnings to normalize upward after the event-heavy fiscal 2026 period, though the forward figure leans on assumptions about event timing that cannot be verified from the supplied data. The PEG ratio of 14.18 is distorted by a very low implied growth denominator and should not be read as a meaningful signal on its own. Relative to News Corporation's 25.71 trailing P/E and Comcast's 4.63, FOXA appears to be priced as a mid-range linear media name, which may reflect investor skepticism about durability of cable-linked affiliate revenue.
Event Timing Drives Margin Swings
According to quarterly statements, FOXA's operating margin ranged from roughly 11% to 27% over ten quarters, with net margin fluctuating between 4% and 23%, indicating that reported profitability depends heavily on the event calendar.
The highest margins cluster in non-event quarters where fixed sports-rights and talent costs are spread over steadier advertising and affiliate bases, while lower readings coincide with heavy production periods. Gross margin readings of roughly 23% to 43% reinforce that rights costs, not revenue, are the principal source of variability. Investors should treat trailing net margin of roughly 16% as an event-influenced figure rather than a run-rate earning power estimate.
Returns Recovering From a Trough
Based on reported figures, FOXA's ROIC moved from 3.3% to 4.8% over ten quarters while ROE has remained in a 1.5% to 7.7% band, showing returns that are modest in absolute terms and still building back.
ROIC in the mid-single digits is low for a business with this brand strength, suggesting either a large capital base relative to operating earnings or margin pressure from rights costs. The improvement in the most recent quarters is encouraging but the series is too short and too event-driven to confirm a durable compounding trend. Against Comcast's 8.2% and Disney's 6.8% ROIC, FOXA currently lags, implying that the moat has not yet translated into superior capital efficiency.
Leverage Easing Through Equity Growth
As reported in the quarterly statements, FOXA's debt-to-equity fell from 0.74 to 0.60 and debt-to-EBITDA improved to roughly 4.7x in the latest quarter, with interest coverage at 12.25x suggesting debt service is comfortable.
Most of the deleveraging appears to come from equity growth rather than debt reduction, since total debt has stayed within a narrow band. Quarterly debt-to-EBITDA swings between about 4.7x and 12x reflect the event-driven denominator, so the trailing average is a more reliable gauge than any single period. Refinancing risk is not evident from the supplied data, though the maturity profile is not provided and cannot be assessed here.
Liquidity Cushion Remains Substantial
According to reported balance sheet figures, FOXA's current ratio has ranged from 2.45 to 3.79 and quick ratio from 2.14 to 3.50, with cash of roughly $4.5B providing a sizable buffer against short-term obligations.
Liquidity ratios remain well above conventional thresholds even in the weakest recent quarters, which suggests the company could absorb a sharp drop in advertising revenue without immediate pressure. Because the quick ratio stays close to the current ratio, reliance on inventory-like assets is minimal, which fits a media business with limited physical inventory. The main stress point would be a simultaneous litigation settlement and event-cost spike, which the data alone does not allow us to size.
Earnings Multiples Mask Event Dependence
Based on the reported ratio series, FOXA's trailing P/E of 17.62 may understate valuation risk because the underlying earnings base shifts substantially with the timing of the Super Bowl, political cycle, and major sports rights.
The most commonly misapplied metric for this business is trailing P/E, since a single event-heavy year can inflate or depress reported EPS by a wide margin. Normalized or multi-year average EBITDA, adjusted for the event calendar, gives a more defensible basis for comparing FOXA to Disney or Comcast. Investors should monitor how much of trailing earnings reflects one-time event revenue before anchoring to any single multiple.