The company has demonstrated a disciplined approach to capital structure, successfully improving its debt-to-equity ratio from 0.47 in 2024Q2 to 0.31 as of 2026Q3.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 |
|---|
| Total Current Assets | 4.58B | 4.81B | 4.37B | 4.05B | 4.09B | 4.46B | 3.46B | 4.05B | 4.39B | 3.81B | 3.89B | 4.01B | 5.27B | 4.64B | 3.12B | 3.99B |
| Cash & Short-Term Investments | 2.17B | 2.4B | 1.96B | 1.83B | 1.82B | 2.24B | 1.52B | 1.64B | 2.03B | 2.02B | 1.83B | 1.95B | 3.15B | 2.38B | 1.13B | 2.02B |
| Cash Only | 2.17B | 2.4B | 1.96B | 1.83B | 1.82B | 2.24B | 1.52B | 1.64B | 2.03B | 2.02B | 1.83B | 1.95B | 3.15B | 2.38B | 1.13B | 2.02B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.78B | 1.56B | 1.5B | 1.43B | 1.5B | 1.5B | 1.2B | 1.54B | 1.61B | 1.28B | 1.23B | 1.35B | 1.45B | 1.58B | 1.37B | 1.5B |
| Days Sales Outstanding | 69.43 | 67.45 | 66.48 | 64.92 | 52.79 | 58.43 | 48.74 | 55.94 | 65.2 | 57.22 | 54.1 | 57.64 | 62.54 | 64.95 | 57.74 | 60.32 |
| Inventory | 303M | 327M | 296M | 311M | 311M | 253M | 348M | 348M | 376M | 208M | 218M | 299M | 310M | 301M | 246M | 242M |
| Days Inventory Outstanding | 48.92 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 327M | 519M | 613M | 484M | 458M | 469M | 393M | 515M | 372M | 315M | 370M | 218M | 361M | 144M | 212M | 227M |
| Total Non-Current Assets | 10.94B | 10.69B | 12.31B | 12.87B | 13.13B | 12.31B | 10.8B | 11.66B | 11.95B | 10.74B | 11.59B | 11.02B | 11.22B | 11B | 9.97B | 13.01B |
| Property, Plant & Equipment | 2.12B | 2.12B | 2.87B | 3.08B | 2.99B | 3.31B | 3.32B | 2.55B | 2.56B | 1.62B | 2.4B | 2.69B | 3.01B | 2.99B | 3.27B | 3.73B |
| Fixed Asset Turnover | 4.27x | 3.99x | 2.87x | 2.60x | 3.47x | 2.83x | 2.72x | 3.94x | 3.53x | 5.01x | 3.45x | 3.17x | 2.82x | 2.97x | 2.64x | 2.44x |
| Goodwill | 4.49B | 4.37B | 5.19B | 5.14B | 5.17B | 4.65B | 3.95B | 5.15B | 5.22B | 3.84B | 3.71B | 3.06B | 2.78B | 2.73B | 2.59B | 3.97B |
| Intangible Assets | 1.88B | 1.93B | 2.32B | 2.49B | 2.67B | 2.18B | 1.86B | 2.43B | 2.67B | 2.28B | 2.21B | 2.24B | 2.14B | 2.19B | 2.46B | 3.92B |
| Long-Term Investments | 4.05B | 1.02B | 430M | 427M | 488M | 351M | 297M | 335M | 393M | 2.03B | 2.27B | 2.38B | 2.61B | 2.5B | 1.13B | 1.03B |
| Other Non-Current Assets | 1.27B | 1B | 1.17B | 1.34B | 1.38B | 1.45B | 1.04B | 930M | 831M | 442M | 396M | 520M | 536M | 459M | 470M | 336M |
| Total Assets | 15.52B | 15.5B | 16.68B | 16.92B | 17.22B | 16.77B | 14.26B | 15.71B | 16.35B | 14.55B | 15.48B | 15.04B | 16.49B | 15.64B | 13.09B | 17.01B |
| Asset Turnover | 0.58x | 0.55x | 0.49x | 0.47x | 0.60x | 0.56x | 0.63x | 0.64x | 0.55x | 0.56x | 0.54x | 0.57x | 0.51x | 0.57x | 0.66x | 0.53x |
| Asset Growth % | -26.88% | -7.07% | -1.4% | -1.74% | 2.68% | 17.6% | -9.23% | -3.88% | 12.33% | -6.01% | 2.98% | -8.82% | 5.41% | 19.5% | -23.04% | - |
| Total Current Liabilities | 2.69B | 2.61B | 3.06B | 3.17B | 3.52B | 3.23B | 2.68B | 3.34B | 3.29B | 2.45B | 2.44B | 2.11B | 2.26B | 2.17B | 2.47B | 2.57B |
| Accounts Payable | 384M | 335M | 314M | 440M | 411M | 321M | 351M | 411M | 605M | 222M | 217M | 238M | 276M | 242M | 284M | 314M |
| Days Payables Outstanding | 58.56 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 2M | 33M | 3M | 266M | 28M | 48M | 449M | 462M | 103M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 1.53B | 498M | 551M | 622M | 604M | 473M | 398M | 428M | 516M | 426M | 388M | 361M | 369M | 389M | 386M | 447M |
| Other Current Liabilities | 1.75B | 438M | 475M | 521M | 818M | 872M | 657M | 702M | 355M | 458M | 466M | 33M | 431M | 250M | 185M | 232M |
| Current Ratio | 1.70x | 1.84x | 1.43x | 1.28x | 1.16x | 1.38x | 1.29x | 1.21x | 1.33x | 1.56x | 1.59x | 1.90x | 2.33x | 2.14x | 1.26x | 1.56x |
| Quick Ratio | 1.59x | 1.72x | 1.33x | 1.18x | 1.07x | 1.30x | 1.16x | 1.11x | 1.22x | 1.47x | 1.50x | 1.76x | 2.19x | 2.00x | 1.16x | 1.46x |
| Cash Conversion Cycle | 59.78 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 3.54B | 3.51B | 4.62B | 4.81B | 4.56B | 4.39B | 3.19B | 2.06B | 2.55B | 1.01B | 1.24B | 789M | 806M | 776M | 1.7B | 2.01B |
| Long-Term Debt | 2.84B | 1.79B | 2.85B | 2.92B | 2.74B | 2.21B | 1.09B | 1B | 1.49B | 276M | 369M | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 1.95B | 1.05B | 1.03B | 1.14B | 987M | 1.19B | 1.24B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 217M | 57M | 119M | 163M | 198M | 260M | 258M | 295M | 389M | 61M | 171M | 166M | 224M | 152M | 926M | 1.38B |
| Other Non-Current Liabilities | 649M | 609M | 617M | 580M | 638M | 730M | 603M | 761M | 675M | 670M | 699M | 623M | 582M | 624M | 778M | 632M |
| Total Liabilities | 6.24B | 6.12B | 7.67B | 7.98B | 8.08B | 7.63B | 5.87B | 5.4B | 5.85B | 3.46B | 3.68B | 2.9B | 3.07B | 2.95B | 4.17B | 4.58B |
| Total Debt | 2.84B | 2.94B | 4.05B | 4.21B | 4.16B | 3.6B | 2.54B | 1.45B | 1.95B | 379M | 369M | 0 | 0 | 0 | 0 | 0 |
| Net Debt | 671M | 537M | 2.09B | 2.37B | 2.33B | 1.36B | 1.02B | -190M | -82M | -1.64B | -1.46B | -1.95B | -3.15B | -2.38B | -1.13B | -2.02B |
| Debt / Equity | 0.31x | 0.31x | 0.45x | 0.47x | 0.45x | 0.39x | 0.30x | 0.14x | 0.19x | 0.03x | 0.03x | - | - | - | - | - |
| Debt / EBITDA | 1.74x | 2.08x | 3.27x | 3.86x | 2.49x | 2.83x | 2.50x | 1.17x | 1.82x | 0.43x | 0.44x | - | - | - | - | - |
| Net Debt / EBITDA | 0.41x | 0.38x | 1.69x | 2.18x | 1.40x | 1.07x | 1.01x | -0.15x | -0.08x | -1.86x | -1.74x | -2.06x | -13.00x | -3.46x | -1.45x | -1.67x |
| Interest Coverage | 42.73x | 95.60x | 22.89x | 8.02x | 9.20x | 9.49x | -59.96x | 7.00x | 85.57x | - | - | - | - | - | - | - |
| Total Equity | 9.28B | 9.39B | 9.01B | 8.95B | 9.14B | 9.15B | 8.39B | 10.31B | 10.5B | 11.09B | 11.8B | 12.14B | 13.42B | 12.7B | 8.92B | 12.43B |
| Equity Growth % | 12.81% | 4.19% | 0.74% | -2.17% | -0.03% | 9.02% | -18.64% | -1.77% | -5.37% | -6.01% | -2.75% | -9.56% | 5.69% | 42.35% | -28.24% | - |
| Book Value per Share | 16.53 | 16.47 | 15.71 | 15.45 | 15.43 | 15.41 | 14.27 | 17.54 | 18.01 | 19.08 | 20.26 | 20.83 | 23.15 | 21.91 | 15.42 | 21.48 |
| Total Shareholders' Equity | 8.58B | 8.77B | 8.12B | 8.06B | 8.22B | 8.21B | 7.58B | 9.14B | 9.31B | 10.81B | 11.58B | 11.96B | 13.26B | 12.58B | 8.81B | 12.43B |
| Common Stock | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 6M | 0 | 0 |
| Retained Earnings | -452M | -747M | -1.89B | -2.14B | -2.29B | -2.91B | -3.24B | -1.98B | -2.16B | -648M | 150M | 88M | 237M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.54B | -1.54B | -1.25B | -1.25B | -1.27B | -941M | -1.33B | -1.13B | -874M | -964M | -1.03B | -582M | 610M | 271M | 8.81B | 0 |
| Minority Interest | 697M | 615M | 891M | 881M | 921M | 935M | 807M | 1.17B | 1.19B | 284M | 218M | 171M | 156M | 118M | 110M | 0 |
Conglomerate structural complexity
As reported in recent financial statements, NWSA has successfully reduced its total debt from $4.2 billion in 2024Q2 to $2.8 billion by 2026Q3, signaling a deliberate shift toward a more conservative capital structure that may improve the company's resilience against cyclical downturns in its media segments.
The consistent reduction in debt levels over the past ten quarters suggests management is prioritizing balance sheet health amidst volatile revenue streams. This trajectory appears to provide greater financial flexibility, potentially mitigating the risks associated with the company's exposure to cyclical Australian real estate and legacy print advertising.
Based on the provided quarterly data, NWSA's debt-to-equity ratio has improved from 0.47 in 2024Q2 to 0.31 in 2026Q3, indicating that the company is effectively deleveraging its balance sheet and reducing the interest burden on its core operating cash flows.
The reduction in debt appears to be a strategic move to lower financial risk, particularly given the inherent volatility in the company's media and real estate segments. Investors should monitor whether this trend continues, as lower leverage may provide a necessary buffer against potential future earnings compression.
According to recent SEC filings, NWSA maintains a current ratio of 1.70 as of 2026Q3, which, when paired with $2.2 billion in cash reserves, suggests the company possesses an adequate liquidity buffer to navigate short-term operational fluctuations and meet its immediate financial obligations.
The current ratio has remained consistently above 1.30 throughout the observed period, indicating a stable ability to cover short-term liabilities. This liquidity position appears to support the company's ongoing capital allocation strategy, including share repurchases, without compromising its ability to fund core business operations.
As reported in financial statements, NWSA carries $4.5 billion in goodwill as of 2026Q3, representing a significant portion of its $15.5 billion in total assets, which warrants close investor scrutiny regarding potential future impairment charges if segment performance fails to meet long-term growth expectations.
The concentration of goodwill suggests that a substantial portion of the company's asset base is tied to past acquisitions, which may be sensitive to changes in the competitive landscape of the digital real estate and media sectors. Analysts should evaluate whether these intangible assets are adequately supported by the cash-generating capacity of the underlying business units.
Based on the provided data, the full consolidation of the REA Group stake within NWSA's total assets of $15.5 billion may obscure the true performance of the parent company's wholly-owned assets, potentially leading to an overestimation of the company's consolidated financial strength by market participants.
The inclusion of a 61% stake in a separate publicly traded entity creates a structural distortion that complicates the assessment of NWSA's core balance sheet. Investors should consider adjusting for the market value of the REA Group stake to gain a clearer view of the underlying health of the Dow Jones and publishing businesses.
Quick answers to the most common questions about buying NWSA stock.
As of 2025, News Corporation (NWSA) had total assets of $15.50B including $4.81B in current assets.
News Corporation (NWSA) carries total debt of $2.94B, offset by $2.40B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
News Corporation (NWSA) has total shareholders' equity (book value) of $8.77B ($16.47 book value per share). Book value represents the net worth of the company belonging to common stock holders.
News Corporation (NWSA) reported a current ratio of 1.84x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.