Want to see FOXA full AI Analyst Report?
Top Page
Fox
(NASDAQ:FOXA)
Select Model
Select Model
Rating:68Neutral
Price Target:
$68.00
▲(1.16% Upside)
Action:Reiterated
Date:10/15/26
FOXA scores highest on business/operational outlook from the latest earnings call (strong advertising tailwinds, digital traction, and shareholder returns) and maintains a sound financial base with improving leverage. The score is held back by weakening recent profitability and free-cash-flow momentum versus FY2025, and a mixed-to-weak technical picture (below short-term moving averages with negative MACD). Valuation is reasonable, but the dividend yield is modest.
Positive Factors
Revenue and EBITDA Growth
Growing revenue alongside record adjusted EBITDA indicates that Fox is expanding its monetizable audience base while retaining substantial operating earnings power. The combination of scale and profitability supports continued investment in programming, digital distribution, and shareholder returns over the next several quarters.
Negative Factors
Margin and Cash Flow Compression
The decline in profitability and free-cash-flow momentum shows that recent revenue growth has not translated proportionally into earnings or cash generation. If the weaker margins persist, Fox may have less internally generated capacity for content investment, acquisitions, buybacks, and dividends.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and EBITDA Growth
Growing revenue alongside record adjusted EBITDA indicates that Fox is expanding its monetizable audience base while retaining substantial operating earnings power. The combination of scale and profitability supports continued investment in programming, digital distribution, and shareholder returns over the next several quarters.
Read all positive factors
Fox Key Performance Indicators (KPIs)
Any
Adjusted EBITDA by Segment
Shows operating profitability by business unit after excluding one-time items, revealing which segments generate steady cash flow and which weigh on margins—important for judging dividend coverage, debt capacity, and funding for rights or growth investments.
Shows operating profitability by business unit after excluding one-time items, revealing which segments generate steady cash flow and which weigh on margins—important for judging dividend coverage, debt capacity, and funding for rights or growth investments.
Data provided by:
The Fly
The FlyFox (FOXA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$25.18B
Dividend Yield0.9%
Average Volume (3M)4.70M
Price to Earnings (P/E)14.5
Beta (1Y)0.66
Revenue Growth5.07%
EPS Growth-20.95%
CountryUS
Employees10,550
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)3.89
Shares Outstanding201,424,850
10 Day Avg. Volume4,967,092
30 Day Avg. Volume4,695,183
Financial Highlights & Ratios
PEG Ratio-0.59
Price to Book (P/B)1.71
Price to Sales (P/S)1.16
P/FCF Ratio13.53
Enterprise Value/Market Cap1.03
Enterprise Value/Revenue1.51
Enterprise Value/Gross Profit4.12
Enterprise Value/Ebitda6.75
Forecast
1Y Price Target
$78.33Price Target Upside16.53% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)6.01
Revenue Forecast (FY)$17.64B
Fox Business Overview & Revenue Model
Company Description
Fox Corporation (FOXA) is a prominent U.S.-based media entity, primarily engaged in the creation and distribution of news, sports, and entertainment content. Its operational framework is divided into three main segments: Cable Network Programming,...
How the Company Makes Money
Fox primarily makes money by monetizing its content and audiences through advertising, affiliate distribution fees, and (to a lesser extent) consumer subscription revenues from digital products.
1) Advertising revenue (largest and most visible dr...
Fox Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
The call presented a strongly positive operational and financial story: record annual and quarterly results, exceptional advertising performance driven by the FIFA World Cup, significant momentum at Tubi and FOX One, meaningful capital returns, and strategic expansion via the pending Roku acquisition. Offsetting items included materially higher expenses tied to the World Cup and digital investments, some segment-specific pressures (notably Cable EBITDA and timing-driven content revenue declines), and near-term cash flow timing effects. On balance, the highlights — strong top-line growth, margin expansion on an adjusted basis, digital and streaming traction, and shareholder returns — materially outweigh the headwinds and execution/transaction risks discussed.Positive Updates
Record Annual Revenue and EBITDA
Fiscal 2026 total revenue grew 5% to over $17.0 billion and adjusted EBITDA increased 8% to a record $3.9 billion.
Negative Updates
Higher Expenses Driven by World Cup and FOX One
Total expenses increased 4% for the full year and rose 28% in fiscal Q4 due to World Cup rights and production costs, FOX One first-year costs, and higher digital content costs.
Read all updates
Q4-2026 Updates
Positive
Negative
Record Annual Revenue and EBITDA
Fiscal 2026 total revenue grew 5% to over $17.0 billion and adjusted EBITDA increased 8% to a record $3.9 billion.
Read all positive updates
Company Guidance
Management said fiscal 2027 is off to an excellent start, with advertising momentum carrying into Q1 (World Cup tailwinds and a midterm cycle that trackers estimate at >$11B of political ad spend), World Cup revenues largely weighted to fiscal ’26 with TV bearing the knockout‑stage benefit in early ’27, and distribution renewals returning to a more normalized cadence in fiscal ’27 (skewed toward TV) with both Cable and TV expected to contribute to distribution revenue growth; they expect continued bottom‑line improvement as digital investment moderates (digital spend fell from just under $300M in FY25 to < $200M in FY26), reiterated that the Roku acquisition remains on track to close in H1 calendar 2027 (targeting ~2.8x net leverage on close), and signaled ongoing capital returns — buybacks to continue after repurchasing $2B in FY26 and $8.6B cumulatively (~36% of shares) and an increased semiannual dividend to $0.29 per share — all while exiting the quarter with roughly $4.2B cash, $6.6B debt and generating quarterly free cash flow of $726M.Fox Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
63
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 17.13B | 16.30B | 13.98B | 14.91B | 13.97B |
| Gross Profit | 6.27B | 5.78B | 4.89B | 5.22B | 4.86B |
| EBITDA | 3.88B | 3.51B | 2.83B | 3.10B | 2.87B |
| Net Income | 1.69B | 2.26B | 1.50B | 1.24B | 1.21B |
Balance Sheet | |||||
| Total Assets | 22.48B | 23.20B | 21.97B | 21.87B | 22.18B |
| Cash, Cash Equivalents and Short-Term Investments | 4.21B | 5.35B | 4.32B | 4.27B | 5.20B |
| Total Debt | 7.57B | 7.46B | 8.15B | 8.21B | 7.72B |
| Total Liabilities | 10.67B | 10.84B | 10.92B | 11.21B | 10.62B |
| Stockholders Equity | 11.63B | 11.96B | 10.71B | 10.38B | 11.34B |
Cash Flow | |||||
| Free Cash Flow | 1.47B | 2.99B | 1.50B | 1.44B | 1.58B |
| Operating Cash Flow | 1.97B | 3.32B | 1.84B | 1.80B | 1.88B |
| Investing Cash Flow | -705.00M | -537.00M | -452.00M | -438.00M | -513.00M |
| Financing Cash Flow | -2.41B | -1.75B | -1.34B | -2.29B | -2.06B |
Fox Technical Analysis
Negative
67.22
Price Trends
65.19
Negative
61.44
Positive
62.03
Positive
Market Momentum
0.34
Negative
46.01
Neutral
33.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FOXA, the sentiment is Negative. The current price of 67.22 is above the 20-day moving average (MA) of 63.97, above the 50-day MA of 65.19, and above the 200-day MA of 62.03, indicating a neutral trend. The MACD of 0.34 indicates Negative momentum. The RSI at 46.01 is Neutral, neither overbought nor oversold. The STOCH value of 33.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FOXA.
Fox Risk Analysis
Fox disclosed 30 risk factors in its most recent earnings report. Fox reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
The market price of the Common Stock may decline as a result of the Merger. Q2, 2026
2.
FOX's post-Merger indebtedness may have a significant negative impact on its business, financial condition or results of operations. Q2, 2026
3.
The Roku Transaction may not be completed or may be delayed if the closing conditions in the Merger Agreement are not satisfied, and the Merger Agreement may be terminated in accordance with its terms. Q2, 2026
Fox Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $4.26B | 5.80 | 8.27% | 3.67% | -3.61% | -37.40% | |
71 Outperform | $188.28B | 22.44 | 7.87% | 1.38% | 5.31% | -23.96% | |
69 Neutral | $23.07B | 64.72 | 13.18% | ― | 18.52% | ― | |
68 Neutral | $25.18B | 14.49 | 14.74% | 0.90% | 5.07% | -20.95% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
* Communication Services Sector Average
FOXA
Fox
63.39
3.14
5.22%
DIS
Walt Disney
109.04
0.37
0.34%
ROKU
Roku
155.33
56.72
57.52%
VSNT
Versant Media Group
30.67
-13.52
-30.59%
Fox Corporate Events
Business Operations and StrategyM&A TransactionsShareholder Meetings
Fox shareholders endorse Roku acquisition and streaming expansion
Positive
Oct 14, 2026
On June 14, 2026, Fox Corporation agreed to acquire Roku through a two-step merger in which Roku will first become a wholly owned Fox subsidiary and then be combined into another Fox subsidiary, consolidating Roku’s operations under the Fox ...
Business Operations and StrategyLegal ProceedingsM&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Fox Advances Roku Acquisition Amid Shareholder Litigation Concerns
Negative
Oct 6, 2026
Fox Corporation, through two wholly owned merger subsidiaries, has agreed to acquire Roku, Inc. in a two-step merger under a June 14, 2026 Merger Agreement, which will ultimately make Roku a wholly owned subsidiary of Fox. The companies advanced t...
M&A TransactionsRegulatory Filings and Compliance
Fox-Roku merger faces extended U.S. antitrust review
Neutral
Sep 9, 2026
On June 14, 2026, Fox Corporation signed a merger agreement to acquire Roku through a two-step transaction that will ultimately fold Roku into a wholly owned Fox subsidiary, subject to customary closing conditions and regulatory approvals. On Sept...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.