Fox Corporation (FOX)
Sous-évaluéFondamental
77
Prix
$54.92
Capitalisation boursière
$24.12B
Partie 1 · Ce que vaut l'entreprise
Vue d'ensemble
Fox Corporation owns a cluster of American television businesses built around live news and sports: Fox News, Fox Sports, the Fox broadcast network and regional and national cable channels. It makes money mainly by selling advertising around live programming and by charging cable, satellite and streaming distributors a per-subscriber fee to carry its channels. Unlike most media rivals it never built a general-entertainment streaming service, choosing instead to concentrate on content people still prefer to watch live.
Comment l'entreprise gagne de l'argent
Two revenue streams do most of the work: advertising sold around news and sports broadcasts, and affiliate fees that distributors pay for the right to carry Fox channels, which are contractually renegotiated every few years. Live sports rights and news production are by far the largest costs, so profitability depends on renewing distribution deals at rates that keep pace with those costs even as the number of pay-TV households keeps shrinking every year.
Chiffre d'affaires par segment
The Fox broadcast network, local stations and Tubi streaming, carrying NFL football and other major live sports and entertainment.
Fox News, Fox Business and Fox Sports cable channels, earning both advertising and per-subscriber affiliate fees.
Residual corporate revenue not attributed to the two main operating segments, including shared administrative activity.
Avantage concurrentiel
Marque · ÉtroitFox News and Fox Sports have built loyal audiences that keep watching live rather than switching to on-demand alternatives, which gives Fox real leverage when it negotiates affiliate fees with distributors. That loyalty is valuable but not unlimited: news and sports rights can in principle be replicated by well-funded rivals, and cord-cutting steadily shrinks the base of pay-TV households paying those fees in the first place.
Ce qui stimule la demande
CycliqueAdvertising revenue rises and falls with the broader economy and spikes in even years thanks to political advertising around elections, then fades back in odd years. Affiliate fee revenue is steadier because it is contractual, but it is on a slow structural decline as fewer households subscribe to traditional pay-TV bundles, so the two revenue streams partly offset each other's swings.
Principaux risques
- Murdoch family voting control — A dual-class share structure gives the Murdoch family and its trust control of shareholder votes well beyond their economic stake, limiting other shareholders' influence over major decisions.
- Cord-cutting — The number of households paying for traditional cable and satellite bundles keeps declining, which steadily shrinks the subscriber base that generates Fox's affiliate fee revenue.
- Rising sports rights costs — Live sports rights, a core draw for both channels, are renegotiated periodically at increasingly competitive prices, and losing a major rights package would weaken the audience that advertising and affiliate fees rely on.
- Advertising cyclicality — Advertising spending falls in economic downturns and swings between election and non-election years, adding volatility to a large share of Fox's revenue.
Les arguments en faveur
Buyers argue that Fox News and live sports remain the parts of television advertisers and distributors still pay a premium for, that the company converts a large share of revenue into free cash flow without the streaming losses many peers carry, and that affiliate fee renewals keep capturing more value per shrinking subscriber.
Les arguments contre
Sellers worry that cord-cutting will eventually outrun the higher per-subscriber fees Fox negotiates, that sports rights costs keep climbing faster than the audience willing to pay for them, and that a governance structure concentrating control with one family reduces the pressure to change course if the pay-TV model keeps eroding.
Written by the editors, published on 18 août 2026
Direct competitors
Who this company fights with for the same customers
Generated on 18 septembre 2026 with claude-haiku-4-5 — shared with all users
Disney's ABC broadcast network, ABC-owned local stations and ESPN compete head-on with the FOX Network, FOX Television Stations and FOX Sports for the same U.S. viewers, the same sports rights and the same national and local advertising budgets.
CBS, CBS Sports and the free ad-supported service Pluto TV line up almost one-to-one against the FOX Network, FOX Sports and Tubi, competing for NFL and college-football packages and for the same advertisers.
Through NBC, its owned local stations, NBC Sports and Peacock, Comcast bids against Fox for the same live sports rights and sells advertising to the same national and local buyers.
CNN is FOX News Channel's direct rival for cable-news audiences, while TNT and TBS compete with FS1 for live sports and for the affiliate fees paid by pay-TV distributors.
Named by Fox itself among its sports-viewing rivals, Netflix now bids for live sports events and sells an ad-supported tier, taking viewing time and advertising dollars that would otherwise go to FOX and Tubi.
Bilan & Liquidités
Chiffre d'affaires
$17.13B
12 derniers mois (au 30/06/2026)
Résultat net
$1.73B
12 derniers mois (au 30/06/2026)
Flux de trésorerie libre
$1.47B
Capitaux propres totaux
$11.63B
Passif total
$10.75B
Ratio de liquidité général
3.17
Couverture des intérêts
-
Dette/EBITDA
1.95
Bénéfice par action
Chiffre d'affaires & Résultat net
Flux de trésorerie libre
Décomposition du résultat
État historique
Marges dans le temps
La dette dans le temps
Le poids de la dette
Grille de la croissance
Croissance — Chiffre d'affaires
Estimation de la juste valeur
Juste valeur
$86.19
Prix actuel
$54.92
Marge de sécurité
+36.3%
Fourchette de juste valeur
$56.03 - $116.36
Écart entre les méthodes de valorisation utilisées, pas un intervalle de confiance calibré statistiquement.
Méthodes d'estimation
Indicateurs de valorisation
Ratio P/E
14.30
ROE
14.9%
Ratio P/B
1.19
P/FCF
9.42
Marge brute
-
ROIC
-
Radar de rentabilité
Création de valeur (avantage concurrentiel)
ROIC
-
WACC
7.2%
ROIC − WACC
-
Critères d'analyse fondamentale
Réussi (19)
- EPS shows upward trend
- EPS CAGR 6.33%
- Price CAGR 6.61%
- P/FCF 9.42
- P/B Ratio 1.19
- Debt/Equity ratio
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- Return on Tangible Assets
- Price below Graham Number
- DCF valuation (Undervalued)
- ROE 14.7%
- Revenue Growth 5Y 5.8%
- Analyst Consensus 59% Buy
- Earnings Surprise avg 39.1%
- Earnings Quality (OCF/NI) 1.14
- Share Dilution -3.7%
- Piotroski F-Score 7/9
Échoué (4)
- CapEx intensity
- Low reliance on intangibles
- PEG Ratio 12.51
- Net Margin Trend 10.1% vs 14.1%
Indisponible (5)
- ROIC NaN%
- Gross Margin NaN%
- Dividend Payout NaN%
- Operating Margin NaN%
- Interest Coverage
Score F de Piotroski
Santé financière solide
Qualité des bénéfices
Qualité élevée : bénéfices soutenus par la trésorerie
Dilution du capital
Rachat d'actions. Favorable aux actionnaires
Participations institutionnelles
Gouvernance
Équipe dirigeante
| Nom | Titre | Âge |
|---|---|---|
| Mr. Lachlan Keith Murdoch | Executive Chairman & CEO | 54 |
| Mr. John P. Nallen | President & COO | 68 |
| Mr. Steven Silvester Tomsic | Chief Financial Officer | 56 |
| Mr. Adam G. Ciongoli J.D. | Chief Legal & Policy Officer | 56 |
| Ms. Gabrielle Brown | Executive VP & Chief Investor Relations Officer | - |
| Mr. Nicholas Trutanich | Executive VP of Litigation, Chief Ethics & Compliance Officer | - |
| Mr. Brian Nick | Chief Communications Officer & Executive VP | - |
| Mr. Jeff Collins | President of Advertising Sales, Marketing & Brand Partnership | - |
| Mr. Kevin E. Lord | Executive VP & Chief Human Resources Officer | 62 |
| Mr. Jason Klarman | Chief Digital & Marketing Officer of FOX News Media | - |
Partie 2 · Le prix et le moment d'entrer
Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.
Documents
- Voir le document
Rapport annuel (10-K)
Un aperçu annuel de l'activité, des résultats financiers et des risques de l'entreprise.
Déposé le 2026-08-06
- Voir le document
Rapport trimestriel (10-Q)
Une mise à jour de la performance financière des trois derniers mois.
Déposé le 2026-05-11
- Voir le document
Rapport d'événement important (8-K)
Un avis concernant un événement important, comme un changement de direction ou une annonce majeure.
Déposé le 2026-09-09
via SEC EDGAR
Historique des résultats
via SEC EDGAR
Latest News
Recent headlines for FOX, sourced from Markets Gazette.