Latest Ratios: P/E Ratio 27.3x · EV/EBITDA 10.9x · ROE 6.2%. (2011–2026 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 | $15.8B | $13.9B | $16.9B | $15.8B | $11.3B | $9.2B | $15.3B | $7.0B | $7.9B | $9.0B | $8.0B |
| Enterprise Value | $16.5B | $14.6B | $17.5B | $17.9B | $13.7B | $11.6B | $16.7B | $8.0B | $7.7B | $8.9B | $6.3B |
| P/E Ratio → | 27.30 | 24.11 | 14.36 | 59.93 | 75.00 | 14.84 | 46.02 | — | 51.88 | — | — |
| P/S Ratio | 1.75 | 1.54 | 2.00 | 1.92 | 1.41 | 0.89 | 1.63 | 0.77 | 0.79 | 1.00 | 0.98 |
| P/B Ratio | 1.70 | 1.50 | 1.80 | 1.75 | 1.26 | 1.01 | 1.67 | 0.83 | 0.77 | 0.86 | 0.72 |
| P/FCF | 17.48 | 15.35 | 23.30 | 26.26 | 19.03 | 10.80 | 18.05 | 20.39 | 22.28 | 22.98 | 33.47 |
| P/OCF | 11.88 | 10.43 | 14.94 | 14.40 | 10.34 | 6.82 | 12.36 | 8.94 | 8.55 | 11.93 | 16.12 |
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 | — | 1.62 | 2.07 | 2.17 | 1.71 | 1.11 | 1.78 | 0.89 | 0.77 | 0.99 | 0.78 |
| EV / EBITDA | 10.91 | 9.64 | 12.35 | 14.43 | 12.54 | 6.93 | 13.08 | 7.89 | 6.22 | 8.36 | 7.17 |
| EV / EBIT | 16.05 | 13.96 | 18.73 | 28.88 | 29.44 | 12.69 | 33.11 | — | 18.74 | 14.94 | 14.61 |
| EV / FCF | — | 16.17 | 24.04 | 29.74 | 23.04 | 13.53 | 19.66 | 23.37 | 21.74 | 22.77 | 26.59 |
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 | 56.9% | 56.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 11.4% | 11.4% | 11.3% | 9.7% | 8.4% | 9.4% | 6.3% | 4.1% | 5.8% | 6.6% | 5.3% |
| Net Profit Margin | 6.3% | 6.3% | 14.0% | 3.2% | 1.9% | 6.0% | 3.5% | -14.1% | 1.5% | -16.8% | -9.1% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.2% | 6.2% | 12.8% | 3.0% | 1.6% | 6.8% | 3.8% | -13.6% | 1.5% | -14.0% | -6.4% |
| ROA | 3.7% | 3.7% | 7.3% | 1.6% | 0.9% | 3.7% | 2.1% | -8.5% | 1.0% | -9.8% | -4.9% |
| ROIC | 7.8% | 7.8% | 6.8% | 5.4% | 4.4% | 6.7% | 4.5% | 2.8% | 4.3% | 4.5% | 3.3% |
| ROCE | 8.0% | 8.0% | 7.2% | 5.8% | 4.9% | 7.2% | 4.7% | 3.1% | 4.6% | 4.8% | 3.4% |
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 | 0.31 | 0.31 | 0.31 | 0.45 | 0.47 | 0.45 | 0.39 | 0.30 | 0.14 | 0.19 | 0.03 |
| Debt / EBITDA | 1.87 | 1.87 | 2.08 | 3.27 | 3.86 | 2.49 | 2.83 | 2.50 | 1.17 | 1.82 | 0.43 |
| Net Debt / Equity | — | 0.08 | 0.06 | 0.23 | 0.27 | 0.26 | 0.15 | 0.12 | -0.02 | -0.01 | -0.15 |
| Net Debt / EBITDA | 0.48 | 0.48 | 0.38 | 1.69 | 2.18 | 1.40 | 1.07 | 1.01 | -0.15 | -0.08 | -1.86 |
| Debt / FCF | — | 0.81 | 0.74 | 3.48 | 4.00 | 2.73 | 1.61 | 2.98 | -0.53 | -0.21 | -6.88 |
| Interest Coverage | — | — | 93.30 | 17.71 | 5.52 | 9.20 | 9.49 | -59.96 | 7.00 | 85.57 | — |
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 | 1.62 | 1.62 | 1.84 | 1.43 | 1.28 | 1.16 | 1.38 | 1.29 | 1.21 | 1.33 | 1.56 |
| Quick Ratio | 1.51 | 1.51 | 1.72 | 1.33 | 1.18 | 1.07 | 1.30 | 1.16 | 1.11 | 1.22 | 1.47 |
| Cash Ratio | 0.76 | 0.76 | 0.92 | 0.64 | 0.58 | 0.52 | 0.69 | 0.57 | 0.49 | 0.62 | 0.82 |
| Asset Turnover | — | 0.58 | 0.55 | 0.49 | 0.47 | 0.60 | 0.56 | 0.63 | 0.64 | 0.55 | 0.56 |
| Inventory Turnover | 12.89 | 12.89 | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 71.04 | 67.45 | 66.48 | 64.92 | 52.79 | 58.43 | 48.74 | 55.94 | 65.20 | 57.22 |
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 | 1.3% | 1.5% | 1.1% | 1.1% | 1.5% | 1.9% | 1.1% | 2.3% | 2.0% | 1.7% | 1.9% |
| Payout Ratio | — | — | 15.7% | 64.7% | 116.8% | 28.1% | 49.4% | — | 103.9% | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.7% | 4.1% | 7.0% | 1.7% | 1.3% | 6.7% | 2.2% | — | 1.9% | — | — |
| FCF Yield | 5.7% | 6.5% | 4.3% | 3.8% | 5.3% | 9.3% | 5.5% | 4.9% | 4.5% | 4.4% | 3.0% |
| Buyback Yield | 0.0% | 0.0% | 0.9% | 0.7% | 2.2% | 1.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.3% | 1.5% | 2.0% | 1.8% | 3.7% | 3.8% | 1.1% | 2.3% | 2.0% | 1.7% | 1.9% |
| Shares Outstanding | — | $558M | $570M | $574M | $579M | $593M | $593M | $588M | $588M | $583M | $581M |
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying NWSA stock.
News Corporation's current P/E ratio is 27.3x. The historical average is 38.5x. This places it at the 40th percentile of its historical range.
News Corporation's current EV/EBITDA is 10.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.8x.
News Corporation's return on equity (ROE) is 6.2%. The historical average is -0.3%.
Based on historical data, News Corporation is trading at a P/E of 27.3x. This is at the 40th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
News Corporation's current dividend yield is 1.30%.
News Corporation has 56.9% gross margin and 11.4% operating margin. Operating margin between 10-20% is typical for established companies.
News Corporation's Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Goodwill impairment and margin volatility
Metrics are mathematically derived from official filings.
Margin Compression Masks Underlying Stability
NWSA's gross margin fell from 100% to 50.8% in Q3 2026, per reported figures, yet operating margin held near 10%, suggesting a shift in cost allocation rather than deteriorating core profitability.
The dramatic gross margin decline appears to reflect a change in revenue recognition or cost classification, as operating margins have remained relatively stable around 8-17% over the past year. Net margin spiked to 35.2% in Q4 2025, likely due to a one-time gain, but normalized net margins hover near 5-8%, indicating consistent earning power. Investors should monitor whether the new gross margin level persists, as it may signal a structural shift in the cost base.
Return on Capital Remains Subdued
ROIC has stayed below 3% for the last ten quarters, as reported in financial statements, despite a stable asset base, suggesting the company is not compounding returns on invested capital at an attractive rate.
ROIC peaked at 3.0% in Q2 2026 but averaged around 1.5%, indicating that NWSA's investments are generating minimal returns relative to capital employed. ROE is similarly low, ranging from 0.3% to 8.0%, with the high quarter again reflecting non-recurring gains. This suggests that while the balance sheet is stable, the company is not efficiently converting its asset base into shareholder value, warranting scrutiny of capital allocation decisions.
Working Capital Efficiency Shows Strain
NWSA's cash conversion cycle lengthened to 55 days in Q4 2026, up from 62 days a year earlier, as per reported data, driven by slower receivables collection and higher inventory days.
DSO rose from 52 days in Q4 2024 to 69 days in Q4 2026, indicating that NWSA is taking longer to collect from customers, which may reflect a shift in revenue mix or customer payment terms. DIO also increased to 44 days, while DPO improved to 57 days, partially offsetting the drag. The net effect is a modestly longer cash cycle, which could pressure free cash flow if not reversed, though the company's strong liquidity position provides a buffer.
Leverage Eases but Coverage Remains Thin
NWSA's debt-to-EBITDA improved to 9.1x in Q4 2026 from 15.7x in Q4 2024, as reported in financial statements, yet interest coverage data is sparse, suggesting potential refinancing risk if earnings falter.
The D/E ratio fell from 0.46 to 0.31 over the past year, reflecting debt repayment and a stronger equity base. However, D/EBITDA remains elevated at 9.1x, which is high for a publishing company, though it has improved significantly from 15.7x two years ago. Interest coverage was reported only in a few quarters, with values ranging from 6.3x to 152x, indicating variability; the lower end suggests that debt service could become uncomfortable if operating income declines.
Liquidity Buffer Strengthens
NWSA's current ratio improved to 1.62 in Q4 2026 from 1.36 a year earlier, as per reported figures, with quick ratio at 1.51, indicating a solid short-term liquidity position.
The improvement in liquidity is driven by a reduction in current liabilities and a stable cash position of $2.1B, as noted in the balance sheet analysis. The quick ratio of 1.51 suggests that even without selling inventory, NWSA can cover its short-term obligations comfortably. This provides a cushion against working capital volatility, which has been significant, and supports the company's ability to weather operational disruptions.
Misapplied Metric: Gross Margin
Gross margin is commonly misapplied to NWSA because the shift from 100% to 50.8% may reflect accounting changes rather than economic deterioration, as reported in financial statements, obscuring true profitability.
For a diversified media company like NWSA, gross margin can be distorted by segment mix and cost allocation methods, making it an unreliable indicator of underlying performance. The sudden drop to 50.8% in Q3 2026, after years of 100%, suggests a change in how costs are classified, not necessarily a decline in pricing power. Analysts should instead focus on operating margin and EBITDA margin, which have remained stable, and on segment-level disclosures to assess true earning power.