GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX
Fox Corp (NAS:FOX)
Not Rated
Modestly Undervalued[5]$ 33.54
Media - Diversified - Broadcasting
Market Cap: $ 19,905 Mil
Valuation Rank
Score: 0 /10CurrentIndustry MedianHistorical Median
PE Ratio12.1318.0512.84
Forward P/E12.9117.67N/A
PB Ratio1.81.851.93
PS Ratio1.61.771.73
P/FCF10.7515.059.47
Shiller P/EN/A19.72N/A
PEG Ratio1.481.251.26
Valuation Analysis
% of Price
NCAV-4.66-14
Tangible Book7.7323
Graham Number21.9465
Peter Lynch Value27.4482
Price33.54
Dividend & Ownership
Dividend Yield(ttm) %1.4
Dividend Yield(forward) %1.43
Payout0.16
Dividend Growth(5y) %N/A
Yield on Cost(5y) %1.4
Continuous Div. since2019
Insider Ownership %0.11
Institution Ownership %19.64
Financial Strength
Score: 5 /10CurrentIndustry MedianHistorical Median
Cash-to-Debt0.641.190.60
Equity-to-Asset0.490.510.50
Interest Coverage6.7518.6131.75
Piotroski F-Score556
Profitability Rank
Score: 7 /10CurrentIndustry MedianHistorical Median
Operating Margin %20.034.5921.62
Net Margin %13.182.4713.92
ROE %15.773.1220.27
ROA %7.641.389.78
ROC (Joel Greenblatt) %82.9713.35101.54
Growth (Per Share)
10 Yr5 Yr1 Yr
Revenue Growth (%)N/A8.511.2
EBITDA Growth (%)N/A8.210.9
Oprt. Income Growth (%)N/A5.8-1.4
EPS w/o NRI Growth (%)N/A7.512.5
Free Cash Flow Growth (%)N/A182.2
Book Value Growth (%)N/AN/A10.8
Quarterly
Sep20Dec20Mar21Jun21Sep21
Revenue27174087321528903045
Net Income1106224567253701
EPS1.830.370.960.431.21
Revenue (YoY) %1.878.18-6.5419.5212.07
Net Income (YoY) %121.64-25.33626.92107.38-36.62
EPS (YoY) %128.75-22.92638.46115-33.88
Warning Signs
SEVEREOperating Margin %: Declined
MEDIUMAltman Z-Score: Grey
Good Signs
GOODBeneish M-Score: Unlikely manipulator
Insider Trades
InsiderPositionDateTradesCur. Shares
Murdoch Keith RupertChairman11/15/21-1700000181186
Murdoch Keith RupertChairman09/08/21-190351856k
Murdoch Keith RupertChairman09/02/21-1000001875k
Nallen JohnCOO08/16/21-22611210656
Murdoch Lachlan KExecutive Chair08/15/21-157112688714
Murdoch Lachlan KExecutive Chair08/15/21157112688714
Dinh Viet DChief Legal and06/15/21-3570410288
Murdoch Keith RupertChairman03/12/215000001926k
As of 12-06-2021
* All financial numbers are in millions except for per share data, ratios and percentage change.
Gain % SP500 %
1W-4.36-1.21
1M-13.18-2.43
3M-1.730.40
6M-3.928.98
YTD17.7622.46
1Y14.2425.39
3Y--19.60
5Y--17.70
10Y--15.98
41.44
10.82
19.81
3M
1.5M
2011201220132014201520162017201820192020CurrentPerformance
--------------41.5739.3741.8842.14Highest Stock Price
----------------20.2223.126.89Lowest Stock Price
--------------22670162302028219905Market Cap
--------620620620621616595578Shares Outstanding-Diluted
--------N/AN/AN/A14.2616.5610.2912.13PE Ratio
--------------2.281.611.821.8PB Ratio
--------------21.341.711.6PS Ratio
--------------9.959.626.637.42EV-to-EBITDA
--------201620172018201920202021TTMPer Share Data
--------14.351616.3818.3419.9721.722.46Revenue per Share
--------1.732.213.532.571.623.612.97Earnings per Share
--------1.62.361.783.693.263.623.35Free Cash Flow per Share
--------------0.230.460.460.47Dividends per Share
----------0.366.427.15.777.878.31Tangible Book per Share
----------------------Median PS Value
----------4.2221.5720.2614.525.2823.57Graham Number
--------201620172018201920202021TTMIncome Statement
--------889499211015311389123031290913237Revenue
--------889499211015311389123031290913237Gross Profit
----------------------Gross Margin %
--------692073867938895898061014410585Total Operating Expense
--------1974253522152431249727652652Operating Income
--------22.225.621.821.420.321.420Operating Margin %
--------107213722187159599921501745Net Income
--------12.113.821.5148.116.713.2Net Margin %
--------1861226422132427183333132784EBIT
--------2031243323842639209136133095EBITDA
----------22.527.916.31020.315.8ROE %
----------13.318.69.84.89.67.6ROA %
--------201620172018201920202021Sep21Balance Sheet
----------1925003234464558865411Cash & Equivalents
----------169318331967188820292192Total Receivables
----------103481312119509217502292623161Total Assets
----------------122841845Short-Term Debt & CLO
--------------6751839876117626Long-Term Debt & CLO
----------425535279551116391180111731Total Liabilities
----------609395949947100941112311430Total Stockholders Equity
----------609395949958101111112511430Total Equity
--------201620172018201920202021TTMCashflow Statement
--------1097165513172524236526392401Cash Flow from Operations
---------168-242128-637-1100-528-454Cash Flow from Investing
-----------------600-1001-984Repurchase of Stock
--------------67501191----Net Issuance of Debt
---------913-14311036-1153146-870-1597Cash Flow from Financing
--------16-18248173414111241350Net Change in Cash
---------107-191-215-235-359-484-420Capital Expenditure
--------990146411022289200621551981Free Cash Flow
Competitor
TickerCompanyFinancial
Strength
Profitability
Rank
Market Cap
($M)
PE RatioPS RatioNet
Margin %
ROA %ROE %
NAS:SIRISirius XM Holdings Inc3824,83788.713.033.703.040.00
NAS:FOXFox Corp5719,90512.131.6013.187.6415.77
NAS:LSXMALiberty SiriusXM Group3717,885At Loss1.74-1.47-0.43-1.64
NAS:FWONALiberty Formula One Group4313,936884.227.610.050.010.02
XPAR:VIVVivendi SE5713,28110.710.757.003.076.94
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Financial Strength[2] (Quarterly data, as of Sep. 2021) : Fair (5/10)

0
1
2
3
4
5
6
7
8
9

Cash-to-Debt : 0.64

Cash-to-Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. A high ratio indicates that a company is better able to pay back its debt, and is thus able to take on more debt if necessary.


Equity-to-Asset : 0.49

Equity-to-Asset ratio is calculated as total stockholders equity divided by its total assets. Equity-to-Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity-to-Asset ratio (more leveraged) may have higher ROE % because of the leverage.


Debt-to-Equity : 0.74

A high Debt-to-Equity ratio generally means that a company has been aggressive in financing its growth with debt.


Piotroski F-Score : 5

The Piotroski F-Score is used to determine the strength of a firm's financial position, with 9 being the best and 0 being the worst.

0
1
2
3
4
5
6
7
8
9


WACC : 6.25% vs ROIC : 12.45%

The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business.


Dividend Yield : 1.27%

Dividend yield is a way to measure how much cash flow you are getting for each dollar invested in an equity position.

GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Profitability[3] (Annual data, as of Jun. 2021) : Good (7/10)

0
1
2
3
4
5
6
7
8
9

Revenue : $3,045 Mil vs Net Income : $701 Mil

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. Net Income is a company's total profit. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.


Cash & Equivalents : $5,411 Mil vs Long-Term Debt* : $7,626 Mil

Cash & equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash. Long-Term Debt* consists of loans and obligations lasting over one year.


Operating Margin % : 32.18%

Operating margin % measures how much profit a company makes on a dollar of sales. Operating Margin % is calculated as Operating Income divided by Revenue.


EPS without NRI : $1.21

Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock. In calculating earnings per share without non-recurring items, the dividends of preferred stocks and Non Operating Income need to subtracted from the total net income first.


Dividends per Share : $0.24

Dividends per Share is the amount of dividends that the shareholders of a company receive on a per-share basis. It is calculated using the total dividends paid out to shareholders over one fiscal year and the number of shares outstanding.


Free Cash Flow per Share : $-0.04

Free Cash flow per Share is the amount of Free cash flow per outstanding share of the company's stock.

GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Valuation (Quarterly data, as of Sep. 2021)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.


Valuation Chart (Current stock price : $33.54)


PE Ratio without NRI : 13.51

The price-to-earnings ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.


PB Ratio : 1.85

The price-to-book ratio measures the valuation of the stock relative to the underlying asset of the company.


PS Ratio : 1.79

The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.


Price-to-Free-Cash-Flow : 11.96

Price-to-free-cash-flow is very similar to the valuation metric of price-to-operating-cash-flow but is considered a more exact measure, owing to the fact that it uses free cash flow, which subtracts capital expenditures from a company's total operating cash flow, thereby reflecting the actual cash flow available to fund non-asset-related growth.


EV-to-EBIT : 9.32

Enterprise value of a company divided by its trailing 12 months earnings before interest and taxes (EBIT).

GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Valuation Bands

In these charts the 10-year valuation bands of the price-to-earnings ratio (PE Ratio), price-to-book ratio (PB Ratio), price-to-sales ratio (PS Ratio) and price-to-operating-cash-flow ratio (POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were always traded at the maximum PE ratio of the past 10 years. The lower line of the PE band is where the stock price would have been if it were always traded at the lowest PE ratio of the past 10 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.


Historical Price and PE Band


Historical Price and PS Band


Historical Price and PB Band


Historical Price and Price-to-Operating-Cash-Flow (POCF) Band

GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Warning Signs

GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.


Severe Warning Signs

Operating Margin % : Declined

Fox Corp operating margin has been in 5-year decline. The average rate of decline per year is -2.5%.

Good Signs

Beneish M-Score : Unlikely manipulator

Beneish M-Score -2.55 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

Medium Warning Signs

Altman Z-Score : Grey

Altman Z-score of 2.44 is in grey area. The implies that the company is in some kind of financial stress. If it is below 1.8, the company may faces bankrupcy risk.
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Competitive Comparison


5 Year Price Change Comparison


Financial Strength

CompanyFinancial StrengthCash-to-DebtEquity-to-AssetDebt-to-EquityInterest CoveragePiotroski F-ScoreAltman Z-ScoreBeneish M-ScoreWACC %ROIC %
NAS:FOXFox Corp5/100.640.490.746.7552.44-2.556.2512.45
NAS:NWSANews Corp5/100.600.500.4310.9661.67-2.548.854.82
NAS:AMCXAMC Networks Inc4/100.290.153.635.2661.89-2.244.9912.46
NAS:FWONALiberty Formula One Group4/100.610.550.560.0071.87-2.877.182.47
NYSE:TGNATegna Inc4/100.020.351.425.2183.07-2.296.0011.52
NYSE:GTN.AGray Television Inc3/100.080.311.683.4991.05-2.465.736.70
NAS:LSXMALiberty SiriusXM Group3/100.040.261.693.6750.79-2.516.9439.52
NAS:NXSTNexstar Media Group Inc3/100.030.202.904.7281.36-2.516.878.00
NAS:SBGISinclair Broadcast Group Inc3/100.08-0.13-7.900.8350.65-2.685.847.14
NAS:SIRISirius XM Holdings Inc3/100.02-0.25-3.624.9461.77-2.546.2310.57

Profitability

CompanyProfitability RankOperating
Margin %
Net Margin %ROE %ROA %Price-to-Free-Cash-FlowROC (Joel Greenblatt) %3-Year Revenue Growth %3-Year EBITDA Growth %3-Year EPS w/o NRI Growth %
NAS:NXSTNexstar Media Group Inc9/1028.3419.5637.237.026.2577.6521.9032.3019.90
NAS:AMCXAMC Networks Inc8/1022.5710.7545.486.1116.09103.848.403.00-13.50
NYSE:GTN.AGray Television Inc8/1026.8511.479.793.757.1557.6027.2024.401.30
NAS:SIRISirius XM Holdings Inc8/1023.613.700.003.0416.5650.5716.50-8.20-40.20
NYSE:TGNATegna Inc8/1031.2218.8027.778.617.80117.7515.2013.902.10
NAS:FOXFox Corp7/1020.0313.1815.777.6410.7582.979.8016.503.90
NAS:LSXMALiberty SiriusXM Group7/1020.61-1.47-1.64-0.4310.9543.1513.30-39.500.00
NAS:SBGISinclair Broadcast Group Inc7/108.312.300.001.102.1945.1941.700.000.00
NAS:NWSANews Corp5/107.535.056.093.1517.2423.780.602.800.00
NAS:FWONALiberty Formula One Group3/10-3.440.050.020.0131.6365.16-17.100.000.00

Valuation

CompanyPE RatioPB RatioPS RatioPrice-to-Intrinsic-Value-Projected-FCFPrice-to-Intrinsic-Value-DCF (Earnings Based)Price-to-Median-PS-ValuePrice-to-Peter-Lynch-Fair-ValuePrice-to-Graham-NumberEarnings Yield (Joel Greenblatt) %Forward Rate of Return (Yacktman) %
NAS:LSXMALiberty SiriusXM GroupAt Loss1.971.740.620.000.000.000.001.648.17
NAS:AMCXAMC Networks Inc5.241.950.550.270.170.360.700.0016.1625.86
NAS:NXSTNexstar Media Group Inc7.402.421.440.710.500.880.300.0011.2727.82
NYSE:TGNATegna Inc7.591.861.430.710.001.070.000.0012.3215.08
NYSE:GTN.AGray Television Inc7.731.030.730.320.180.700.350.009.5736.49
NAS:FOXFox Corp12.131.801.600.000.000.001.221.5312.120.00
NAS:SBGISinclair Broadcast Group Inc12.900.000.300.260.000.250.000.005.6339.86
NAS:NWSANews Corp26.221.571.331.200.000.000.003.135.486.31
NAS:SIRISirius XM Holdings Inc88.710.003.031.404.400.610.000.002.826.21
NAS:FWONALiberty Formula One Group884.222.027.612.030.000.000.000.000.700.00
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Peter Lynch Chart[4]

GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Per Share Data



Per Share Data

Jun16
Jun17
Jun18
Jun19
Jun20
Jun21
TTM Fiscal Period
14.35
16
16.38
18.34
19.97
21.7
22.46
Revenue per Share
3.28
3.92
3.85
4.25
3.39
6.07
5.27
EBITDA per Share
3
3.65
3.57
3.91
2.98
5.57
4.74
EBIT per Share
1.73
2.21
3.53
2.57
1.62
3.61
2.97
Earnings per Share (Diluted)
1.73
2.21
3.22
2.57
1.62
3.61
2.97
EPS without NRI
1.6
2.36
1.78
3.69
3.26
3.62
3.35
Free Cash Flow per Share
1.77
2.67
2.12
4.06
3.84
4.44
4.07
Operating Cash Flow per Share
--
0.03
4.03
5.21
7.68
10.22
9.48
Cash per Share
--
--
--
0.23
0.46
0.46
0.47
Dividends per Share
--
9.83
15.47
16.03
16.69
19.31
20.03
Book Value per Share
--
0.36
6.42
7.1
5.77
7.87
8.31
Tangible Book per Share
--
--
--
10.88
14.09
14.67
14.85
Total Debt per Share
--
--
--
36.53
26.84
35.2
33.54
Month End Stock Price

Ratios

Jun16
Jun17
Jun18
Jun19
Jun20
Jun21
TTM Fiscal Period
--
22.52
27.88
16.32
9.97
20.27
15.77
ROE %
--
--
--
7.16
6.19
11.14
8.76
ROE % Adjusted to Book Value
--
13.26
18.64
9.78
4.84
9.62
7.64
ROA %
--
618
104
38.04
25.32
53.61
39.06
Return-on-Tangible-Equity
--
30.65
36.5
14.85
6.86
13.66
10.74
Return-on-Tangible-Asset
--
121
102
90.98
61.73
111
82.97
ROC (Joel Greenblatt) %
--
27.26
22.5
16.65
9.74
16.66
13.76
ROCE %
--
18.46
25.56
14.91
11.82
13.39
12.45
ROIC %
--
--
--
8.28
6.21
6.39
6.25
WACC %
--
--
--
3.01
4.83
4.65
4.64
Effective Interest Rate on Debt %
22.19
25.55
21.82
21.35
20.3
21.42
20.03
Operating Margin %
12.05
13.83
21.54
14
8.12
16.66
13.18
Net Margin %
11.13
14.76
10.85
20.1
16.3
16.69
14.97
FCF Margin %
N/A
--
--
0.68
0.84
0.76
0.74
Debt-to-Equity
--
0.59
0.73
0.51
0.46
0.49
0.49
Equity-to-Asset
--
--
--
0.35
0.39
0.37
0.37
Debt-to-Asset
--
0.41
0.27
0.49
0.54
0.52
0.51
Liabilities-to-Assets
--
95.87
86.52
69.81
59.64
57.79
57.93
Gross-Profit-to-Asset %
--
0.96
0.87
0.7
0.6
0.58
0.58
Asset Turnover
--
--
--
0.09
0.28
0.13
0.16
Dividend Payout Ratio
--
62.29
63.38
60.89
57.18
55.38
61.47
Days Sales Outstanding
--
62.29
63.38
60.89
57.18
55.38
61.47
Cash Conversion Cycle
--
0.11
0.11
0.1
0.08
0.06
0.07
Inventory-to-Revenue
0.01
0.02
0.02
0.02
0.03
0.04
0.03
Capex-to-Revenue
* All financial numbers are in millions except for per share data, ratios and percentage change. When Return-on-Tangible-Equity displays Neg. E, it means the the tangible equity is negative.
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Financial Satement



Income Statement

Jun16
Jun17
Jun18
Jun19
Jun20
Jun21
TTM Fiscal Period
8894
9921
10153
11389
12303
12909
13237
Revenue
8894
9921
10153
11389
12303
12909
13237
Gross Profit
1191
1117
1262
1419
1741
1807
1834
Selling, General, & Admin. Expense
5729
6269
6676
7539
8065
8337
8751
Other Operating Expense
6920
7386
7938
8958
9806
10144
10585
Total Operating Expense
1974
2535
2215
2431
2497
2765
2652
Operating Income
22.19
25.55
21.82
21.35
20.3
21.42
20.03
Operating Margin %
--
--
--
41
35
4
3
  Interest Income
-18
-23
-43
-203
-369
-395
-393
  Interest Expense
-18
-23
-43
-162
-334
-391
-390
Net Interest Income
-113
-271
-2
-45
-699
544
129
Other Income (Expense)
1843
2241
2170
2224
1464
2918
2391
Pre-Tax Income
-736
-832
58
-581
-402
-717
-599
Tax Provision
39.93
37.13
-2.67
26.12
27.46
24.57
25.05
Tax Rate %
1107
1409
2228
1643
1062
2201
1792
Net Income (Continuing Operations)
-35
-37
-41
-48
-63
-51
-47
  Other Income (Minority Interest)
1072
1372
2187
1595
999
2150
1745
Net Income
12.05
13.83
21.54
14
8.12
16.66
13.18
Net Margin %
1.73
2.21
3.53
2.57
1.63
3.64
2.99
EPS (Basic)
1.73
2.21
3.53
2.57
1.62
3.61
2.97
EPS (Diluted)
620
620
620
621
616
595
578
Shares Outstanding (Diluted Average)
1861
2264
2213
2427
1833
3313
2784
EBIT
170
169
171
212
258
300
311
Depreciation, Depletion and Amortization
2031
2433
2384
2639
2091
3613
3095
EBITDA

Cashflow Statement

Jun16
Jun17
Jun18
Jun19
Jun20
Jun21
TTM Fiscal Period
1107
1409
2228
1643
1062
2201
1792
Net Income From Continuing Operations
170
169
171
212
258
300
311
Depreciation, Depletion and Amortization
-218
-172
-166
-166
224
-269
-250
  Change In Receivables
-252
21
-228
197
181
190
131
  Change In Inventory
-66
-217
-193
231
-87
282
173
  Change In Payables And Accrued Expense
--
--
--
-98
-98
-224
-91
  Change In Other Working Capital
-536
-368
-587
164
220
-21
-37
Change In Working Capital
139
92
-603
386
283
534
311
Deferred Tax
--
--
--
36
137
147
131
Stock Based Compensation
55
165
16
26
133
35
-- Asset Impairment Charge
162
188
92
57
272
-557
-107
Cash Flow from Others
1097
1655
1317
2524
2365
2639
2401
Cash Flow from Operations
-107
-191
-215
-235
-359
-484
-420
Purchase Of Property, Plant, Equipment
--
--
--
--
-1061
-51
-125
Purchase Of Business
--
--
354
--
60
93
82
Sale Of Business
--
-13
--
-338
-103
-86
-84
Purchase Of Investment
--
--
--
--
349
--
-- Sale Of Investment
-61
-38
-11
-64
14
--
93
Cash From Other Investing Activities
-168
-242
128
-637
-1100
-528
-454
Cash Flow from Investing
--
--
--
--
-600
-1001
-984
Repurchase of Stock
--
--
--
6750
1191
--
--   Issuance of Debt
--
--
--
--
--
--
--   Payments of Debt
--
--
--
6750
1191
--
-- Net Issuance of Debt
-36
-35
-41
-6688
-335
-330
-465
Cash Flow for Dividends
-877
-1396
1077
-1215
-110
461
-148
Other Financing
-913
-1431
1036
-1153
146
-870
-1597
Cash Flow from Financing
16
-18
2481
734
1411
1241
350
Net Change in Cash
-107
-191
-215
-235
-359
-484
-420
Capital Expenditure
990
1464
1102
2289
2006
2155
1981
Free Cash Flow
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Financial Satement


Balance Sheet

Jun16
Jun17
Jun18
Jun19
Jun20
Jun21
TTM Fiscal Period
--
19
2500
3234
4645
5886
5411
  Cash And Cash Equivalents
--
19
2500
3234
4645
5886
5411
Cash, Cash Equivalents, Marketable Securities
--
1693
1833
1967
1888
2029
2192
  Accounts Receivable
--
1693
1833
1967
1888
2029
2192
Total Receivables
--
1052
1180
1129
856
729
1135
  Inventories, Finished Goods
--
1052
1180
1129
856
729
1135
Total Inventories
--
43
67
148
97
105
137
Other Current Assets
--
2807
5580
6478
7486
8749
8875
Total Current Assets
--
54
275
1114
618
899
998
Investments And Advances
--
126
126
123
126
204
--   Land And Improvements
--
1093
1136
1319
1300
1319
--   Buildings And Improvements
--
1474
1525
1516
1575
1652
--   Machinery, Furniture, Equipment
--
--
40
122
310
265
--   Construction In Progress
--
--
--
--
539
469
2140
  Other Gross PPE
--
2693
2827
3080
3850
3909
2140
Gross Property, Plant and Equipment
--
-1570
-1658
-1767
-1813
-1732
--   Accumulated Depreciation
--
1123
1169
1313
2037
2177
2140
Property, Plant and Equipment
--
5871
5613
5542
6607
6589
6687
Intangible Assets
--
2750
2747
2691
3409
3435
3532
  Goodwill
--
493
484
5062
5002
4512
4461
Other Long Term Assets
--
7541
7541
13031
14264
14177
14286
Total Long-Term Assets
--
10348
13121
19509
21750
22926
23161
Total Assets
--
722
553
--
--
--
--   Total Tax Payable
--
478
380
514
485
659
686
  Other Current Payables
--
495
530
835
907
1077
842
  Current Accrued Expense
--
1695
1463
1349
1392
1736
1528
Accounts Payable & Accrued Expense
--
--
--
--
--
749
750
  Short-Term Debt
--
--
--
--
122
92
95
  Short-Term Capital Lease Obligation
--
--
--
--
122
841
845
Short-Term Debt & Capital Lease Obligation
--
128
147
169
152
196
212
  Current Deferred Revenue
--
128
147
169
152
196
212
DeferredTaxAndRevenue
--
219
149
194
240
229
284
Other Current Liabilities
--
2042
1759
1712
1906
3002
2869
Total Current Liabilities
--
--
--
6751
7946
7202
7203
  Long-Term Debt
--
--
--
--
452
409
423
  Long-Term Capital Lease Obligation
--
--
--
6751
8398
7611
7626
Long-Term Debt & Capital Lease Obligation
N/A
--
--
0.68
0.84
0.76
0.74
Debt-to-Equity
--
272
244
543
709
586
574
PensionAndRetirementBenefit
--
1554
1071
--
--
--
-- NonCurrent Deferred Liabilities
--
387
453
545
626
602
662
Other Long-Term Liabilities
--
2213
1768
7839
9733
8799
8862
Total Long-Term Liabilities
--
4255
3527
9551
11639
11801
11731
Total Liabilities
--
--
--
7
6
6
6
Common Stock
--
--
--
357
674
1982
2409
Retained Earnings
--
-59
81
-308
-417
-318
-312
Accumulated other comprehensive income (loss)
--
--
--
9891
9831
9453
9327
Additional Paid-In Capital
--
6152
9513
--
--
--
-- Other Stockholders Equity
--
6093
9594
9947
10094
11123
11430
Total Stockholders Equity
--
--
--
11
17
2
-- Minority Interest
--
6093
9594
9958
10111
11125
11430
Total Equity
--
0.59
0.73
0.51
0.46
0.49
0.49
Equity-to-Asset
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Valuation Ratios



Valuation Ratios

Jun16
Jun17
Jun18
Jun19
Jun20
Jun21
TTM Fiscal Period
N/A
N/A
N/A
14.26
16.56
10.29
12.13
PE Ratio
N/A
N/A
N/A
14.26
16.56
10.29
12.13
PE Ratio without NRI
--
--
--
2.28
1.61
1.82
1.8
PB Ratio
--
--
--
5.15
4.65
4.47
4.34
Price-to-Tangible-Book
--
--
--
9.94
8.24
10.25
10.75
Price-to-Free-Cash-Flow
--
--
--
9.02
6.99
8.37
8.86
Price-to-Operating-Cash-Flow
--
--
--
2
1.34
1.71
1.6
PS Ratio
--
--
--
--
--
1.26
1.48
PEG Ratio
--
--
--
2.31
1.63
1.86
1.73
EV-to-Revenue
--
--
--
9.95
9.62
6.63
7.42
EV-to-EBITDA
--
--
--
10.82
10.97
7.23
8.25
EV-to-EBIT
--
--
--
9.24
9.12
13.83
12.12
Earnings Yield (Joel Greenblatt) %
--
--
--
0.63
1.71
1.31
1.4
Dividend Yield %

Valuation and Quality

Jun16
Jun17
Jun18
Jun19
Jun20
Jun21
TTM Fiscal Period
--
--
--
22670
16230
20282
19905
Market Cap
--
--
--
26198
20122
22850
22965
Enterprise Value
--
--
--
36.53
26.84
35.2
33.54
Month End Stock Price
--
-6.83
-1.66
-10.2
-11.59
-10.27
-11.08
Net Cash per Share
--
-2.34
3.31
-4.97
-6.9
-5.3
-5.01
Net Current Asset Value
--
-3.94
1.51
-6.91
-8.54
-7
-7.2
Net-Net Working Capital
--
--
--
--
--
27.96
27.44
Peter Lynch Fair Value
--
4.22
21.57
20.26
14.5
25.28
23.57
Graham Number
--
--
1.68
2.74
2.03
2.55
2.44
Altman Z-Score
N/A
N/A
N/A
4
6
6
5
Piotroski F-Score
--
--
--
-3.27
-2.71
-2.65
-2.55
Beneish M-Score
--
--
0.69
1.03
0.72
0.63
0.63
Scaled Net Operating Assets
--
-0.4
5.66
-1.5
-1.22
0.17
-- Sloan Ratio %
--
1.37
3.17
3.78
3.93
2.91
3.09
Current Ratio
--
0.86
2.5
3.12
3.48
2.67
2.7
Quick Ratio
--
0.01
1.42
1.89
2.44
1.96
1.89
Cash Ratio
110
110
51.51
11.98
6.77
7
6.75
Interest Coverage
--
--
--
41.57
39.37
41.88
42.14
Highest Stock Price
--
--
--
--
20.22
23.1
26.89
Lowest Stock Price
--
--
--
-0.1
2.56
4.71
4.38
Shares Buyback Ratio %
--
--
--
--
3.7
4.94
4.94
Buyback Yield %
--
11.55
2.34
11.99
8.9
8.63
11.22
YoY Rev. per Sh. Growth
--
27.99
59.38
-27.13
-36.96
123
12.5
YoY EPS Growth
--
19.78
-2.01
10.53
-20.14
78.9
10.89
YoY EBITDA Growth
--
--
--
--
--
8.17
8.2
5-Year EBITDA Growth Rate
620
620
620
621
613
591
575
Shares Outstanding (Basic Average)
620
620
620
621
605
576
570
Shares Outstanding (EOP)
01/25/19
08/09/19
01/25/19
08/09/19
08/10/20
08/10/21
  Filing Date
01/25/19
08/09/19
08/10/20
08/10/21
08/10/21
08/10/21
  Restated Filing Date
08/07/19
08/04/20
08/04/21
  Earnings Release Date
--
--
--
24600
23400
--
-- Number of Shareholders
--
--
7600
7700
9000
9000
9000
Number of Employees
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Fox Corp (NAS:FOX)
www.gurufocus.com/stock/NAS:FOX

Explanation

1. Predictability Rank

GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability also have better stock performance.

The rank is from 1-star to 5-star, with 5-star as the best.

2. Financial Strength

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

  1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
  2. Debt to revenue ratio. The lower, the better.
  3. Altman Z-Score.

The rank is from 1 to 10, with 10 as the highest.

A Financial Strength rank of 8 or above indicates good financial strength; between 4-7 indicates fair financial strength; 3 or below means poor financial strength.

3. Profitability Rank

GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these factors:

  1. Operating Margin %.
  2. Piotroski F-Score.
  3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
  4. Consistency of the profitability.
  5. Predictability Rank.

The rank is from 1 to 10, with 10 as the highest.

A Profitability Rank of 8 or above indicates good profitability; between 4-7 indicates fair profitability; 3 or below means poor profitability.

4. Peter Lynch Chart

In Peter Lynch's excellent book, "One Up on Wall Street," he used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”

The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the stock price and earnings line coincide, the price-to-earnings ratio is always 15 times. Instead of using the fixed PE Ratio of 15, our approach is using 15-year historical median PE without NRI Ratio for each stock.

The Peter Lynch Chart with earnings line at median PE without NRI ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and so forth.

5. GF Value

Based on the relationship between the current stock price and the GF Value, GuruFocus provides the following 6 evaluations:

  1. Possible Value Trap, Think Twice
  2. Significantly Overvalued
  3. Modestly Overvalued
  4. Fairly Valued
  5. Modestly Undervalued
  6. Significantly Undervalued
There is only a sufficient margin of safety when the stock is undervalued.

Disclaimer

GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.