Fox Corporation
- Open
- 47.90
- Day high
- 49.15
- Day low
- 47.77
- Prev close
- 46.84
- Volume
- 610K
- Mkt cap
- $19.7B
- P/E (TTM)
- 12.2
- EPS (TTM)
- $4.00
- P/B
- 1.8
- P/S
- 1.2
- Yield
- 1.20%
- Per share
- $0.56
Fox Corporation (FOX) is a Communication Services company listed on NASDAQ. The stock is down 9% over the past year.
Fox Corporation (FOX) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FOX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 11, 2026 | $1.02 | $1.32 | +29.4% | $4.0B | +5.7% |
| Feb 4, 2026 | $0.51 | $0.82 | +60.8% | $5.2B | +2.4% |
| Oct 30, 2025 | $1.11 | $1.51 | +36.0% | $3.7B | +4.8% |
| Feb 4, 2025 | $0.69 | $0.96 | +38.7% | $5.1B | +4.3% |
| Feb 7, 2024 | $0.13 | $0.34 | +167.3% | $4.2B | +0.6% |
| Nov 2, 2023 | $1.00 | $1.09 | +9.3% | $3.2B | +0.8% |
| Feb 8, 2023 | $0.47 | $0.48 | +1.9% | $4.6B | +0.7% |
| Nov 1, 2022 | $1.14 | $1.21 | +6.1% | $3.2B | +0.6% |
| Aug 10, 2022 | $0.75 | $0.74 | -1.6% | $3.0B | -0.6% |
| Feb 9, 2022 | $0.04 | $0.13 | +268.6% | $4.4B | +4.4% |
| Nov 3, 2021 | — | $1.11 | — | $3.0B | — |
| Aug 4, 2021 | — | $0.65 | — | $2.9B | -63.1% |
FOX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 2, 2026 | Burck William Adirector | Option | 2,235 | — |
| Mar 26, 2026 | Ciongoli Adam G.officer: Chief Legal and Policy Officer | Grant | 122 | — |
| Mar 26, 2026 | Ciongoli Adam G.officer: Chief Legal and Policy Officer | Grant | 142 | — |
| Mar 26, 2026 | NALLEN JOHNofficer: President, COO | Grant | 284 | — |
| Mar 26, 2026 | Abbott Anthony Jdirector | Grant | 70 | — |
| Mar 26, 2026 | NALLEN JOHNofficer: President, COO | Grant | 237 | — |
| Mar 26, 2026 | Burck William Adirector | Grant | 136 | — |
| Mar 26, 2026 | Ryan Paul Ddirector | Grant | 126 | — |
| Mar 26, 2026 | Johnson Margaret Ldirector | Grant | 70 | — |
| Mar 26, 2026 | Ciongoli Adam G.officer: Chief Legal and Policy Officer | Grant | 131 | — |
| Mar 26, 2026 | MURDOCH LACHLAN Kdirector, officer: Executive Chair, CEO | Grant | 480 | — |
| Mar 26, 2026 | CAREY CHASEdirector | Grant | 126 | — |
| Mar 26, 2026 | Tomsic Stevenofficer: Chief Financial Officer | Grant | 142 | — |
| Mar 26, 2026 | Tomsic Stevenofficer: Chief Financial Officer | Grant | 74 | — |
| Mar 26, 2026 | MURDOCH LACHLAN Kdirector, officer: Executive Chair, CEO | Grant | 271 | — |
Source: FOX SEC Form 4 filings, latest Apr 2, 2026. For informational purposes only — not investment advice.
See the full FOX insider & 13F page →Fox Corporation company profile
Overview
Fox Corporation (NASDAQ:FOX) is a major American media and entertainment company that was spun off from 21st Century Fox in March 2019 following Disney's acquisition of most of Fox's entertainment assets. The company retained Fox's news, sports, and broadcast television operations, positioning itself as a focused media enterprise centered around live programming and news content. Based in New York, Fox Corporation operates through three main segments: Cable Network Programming, Television, and Other Corporate operations, maintaining a portfolio of well-known brands including Fox News Channel, Fox Sports networks, the Fox broadcast network, and the streaming service Tubi.
Business
Fox Corporation operates in the traditional media and entertainment industry, which has been undergoing significant transformation due to streaming services and changing viewer habits. The company's business is built around creating, distributing, and monetizing video content across multiple platforms. The Cable Network Programming segment represents Fox's most profitable division, generating approximately 40-45% of total revenue. This segment operates Fox News Channel, America's most-watched cable news network, which provides 24-hour news coverage with a conservative editorial perspective. Fox Business Network offers business and financial news programming. The sports portfolio includes FS1 and FS2 (multi-sport national networks), Fox Sports Racing (motor sports content), Fox Soccer Plus (soccer and rugby), Fox Deportes (Spanish-language sports), and a stake in Big Ten Network (college sports). These networks generate revenue through both advertising sales and affiliate fees paid by cable and satellite providers. The Television segment accounts for roughly 50-55% of total revenue and encompasses Fox's broadcast television operations. The Fox Network is a major broadcast network that airs sports programming (including NFL games, MLB World Series, and FIFA World Cup), entertainment shows, and news programs to local affiliates nationwide. This segment also includes Tubi, a free ad-supported video-on-demand (AVOD) streaming service that Fox acquired, which offers movies and TV shows supported by advertising revenue. Additionally, the segment operates 29 local broadcast television stations in major markets, Fox Alternative Entertainment (unscripted programming production), and MyNetworkTV (a programming distribution service). The Other, Corporate and Eliminations segment represents a small portion of revenue and includes Fox Studios Lot in Los Angeles, which provides production facilities and services to the entertainment industry, featuring sound stages, broadcast studios, and post-production facilities.
Revenue model
Fox Corporation operates a dual-revenue model combining advertising sales and affiliate fee revenues. Advertising revenue comes from selling commercial time across all its networks and platforms to advertisers seeking to reach specific demographics. Fox News attracts advertisers wanting to reach conservative-leaning audiences, while Fox Sports commands premium rates for live sporting events due to their ability to deliver large, engaged audiences that watch in real-time. Tubi generates advertising revenue through its free streaming model, targeting cord-cutters and younger demographics that traditional TV struggles to reach. Affiliate fee revenue represents payments from cable, satellite, and streaming TV providers (like Comcast, DirecTV, YouTube TV) who pay Fox to carry its channels in their programming packages. These fees are typically negotiated in multi-year contracts and provide predictable recurring revenue. Fox News and Fox Sports networks command some of the highest affiliate fees in the industry due to their must-have content. The company's revenue is significantly influenced by several factors. Live sports and breaking news events drive advertising premiums, as these programs cannot be easily time-shifted or skipped. Political advertising cycles provide substantial revenue boosts during election years, particularly for local broadcast stations. Cord-cutting trends present both challenges and opportunities - while traditional pay-TV subscriber losses pressure affiliate revenues, Fox's focus on live programming and news makes it more resilient than entertainment-focused networks. Economic conditions directly impact advertising spending, with categories like automotive, retail, and travel adjusting budgets based on business confidence. The company's margins benefit from its focus on live programming, which commands higher advertising rates and affiliate fees, but face pressure from content cost inflation, particularly for sports rights, and the need for ongoing investment in digital platforms like Tubi.
Competitive moat
Fox Corporation possesses a moderate but defensible moat built primarily around its content assets and audience loyalty. The company's strongest competitive advantage lies in its must-have live programming, particularly NFL games, MLB World Series, and FIFA World Cup coverage, which cannot be easily replicated or time-shifted. These sports rights create significant barriers to entry due to their enormous cost and limited availability, while delivering audiences that advertisers and distributors cannot reach elsewhere. Fox News Channel represents another key moat element, having built an intensely loyal conservative audience over decades. This viewer loyalty translates into consistent ratings leadership in cable news and pricing power with both advertisers and cable operators. The network's brand identity and audience trust create switching costs that competitors struggle to overcome. However, Fox's moat faces meaningful challenges. Cord-cutting trends threaten the traditional cable bundle model that drives affiliate fee revenue, forcing Fox to balance protecting existing revenue streams while adapting to streaming-first consumers. Sports rights inflation pressures margins as leagues demand ever-higher fees, while tech giants like Amazon, Apple, and Netflix increasingly compete for premium content with vast financial resources. Political polarization can be both an asset and liability for Fox News, potentially limiting advertiser appeal while strengthening audience loyalty. The company's investment in Tubi provides some protection against traditional TV decline, but the AVOD space faces intense competition from well-funded players like Roku, Samsung TV Plus, and Pluto TV. Fox's local broadcast stations offer some defensive value through their role in emergency communications and local advertising, but face ongoing challenges from digital advertising platforms. Overall, while Fox maintains competitive advantages in specific content niches, its moat is under pressure from industry transformation and requires continuous investment to maintain.
Risks & safety
Fox Corporation maintains a solid financial position with manageable risk levels, though cyclical earnings create some variability. • Strong liquidity position: $4.8 billion in cash and short-term investments with minimal debt maturities • Moderate leverage: Debt-to-equity ratio of 0.70, representing manageable financial risk • Positive free cash flow generation: $1.9+ billion in recent quarter, demonstrating strong cash conversion • Current ratio of 2.45: Indicates solid short-term liquidity coverage • Valuation metrics: Trading at 18.5x P/E ratio and 10.9x EV/EBITDA, reasonable for a mature media company • Cyclical earnings risk: Revenue heavily dependent on advertising cycles and political spending, creating earnings volatility • Capital allocation: Active share repurchase program ($800M year-to-date) and dividend payments support shareholder returns
Recent development
Over the past few years, Fox Corporation has pursued several key strategic initiatives to adapt to the changing media landscape. The company has made significant investments in streaming, particularly through Tubi, which has grown from a relatively small acquisition to a major AVOD platform targeting over $1 billion in annual revenue. Tubi's growth strategy focuses on serving cord-cutters and cord-nevers with a large content library and advanced advertising targeting capabilities. Fox is preparing to launch Fox One, a direct-to-consumer streaming service targeting consumers who have never subscribed to traditional cable or satellite TV. This service will offer Fox's broadcast content at wholesale-level pricing and is designed to capture audiences without cannibalizing existing cable bundle relationships. The company emphasizes this targets the "cord-never" market rather than competing with traditional distributors. The company has also focused on maximizing the value of its sports and news content. Fox News has expanded its advertiser base significantly, adding over 200 new advertisers since recent election cycles, while maintaining its position as the most-watched cable news network. In sports, Fox has secured record pricing for major events like the Super Bowl and continues to leverage live sports programming for premium advertising rates. Political advertising has emerged as a major revenue driver, with Fox generating record political revenue during election cycles across both its cable networks and local broadcast stations. The company has positioned Tubi as an emerging platform for political advertising, capturing new advertising dollars without cannibalizing traditional TV revenue. Additionally, Fox has completed major affiliate renewal cycles, securing fee increases that provide predictable revenue growth over multi-year periods.
FOX company profile · for informational purposes only — not investment advice.
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