Fox Corp Class B (FOX)

Inventory turnover

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020
Cost of revenue (ttm)	US$ in thousands	8,759,000	10,641,000	9,824,000	9,538,000	9,478,000	9,477,000	10,162,000	10,303,000	10,100,000	10,033,000	9,456,000	9,585,000	9,480,000	9,388,000	9,095,000	8,681,000	8,199,000	7,664,000	7,762,000	7,507,000
Inventory	US$ in thousands	432,000	455,000	1,171,000	795,000	626,000	660,000	1,038,000	751,000	543,000	487,000	1,300,000	1,020,000	791,000	786,000	1,148,000	1,135,000	729,000	685,000	1,020,000	1,271,000
Inventory turnover		20.28	23.39	8.39	12.00	15.14	14.36	9.79	13.72	18.60	20.60	7.27	9.40	11.98	11.94	7.92	7.65	11.25	11.19	7.61	5.91

June 30, 2025 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $8,759,000K ÷ $432,000K
= 20.28

The inventory turnover ratio of Fox Corp Class B exhibits notable fluctuations over the specified periods, indicating varying effectiveness in managing and selling inventory.

From September 30, 2020, to March 31, 2021, the ratio increased significantly from 5.91 to 11.19, suggesting an improvement in inventory management efficiency and faster inventory liquidation. This upward trend continued, reaching a peak of 11.25 in June 2021, maintained through September 2021 (7.65) and December 2021 (7.92), with some decline observed towards September 2022 (9.40).

A substantial jump in inventory turnover occurred between December 2022 (7.27) and March 2023 (20.60), indicating a marked improvement in inventory management or sales performance. This elevated level persisted into June 2023 (18.60), then declined somewhat by September 2023 (13.72), but remained relatively high compared to earlier periods. Further decreases and increases are observed subsequently, with the ratio falling to 8.39 by December 2024 but rebounding sharply in March 2025 to 23.39.

Overall, the inventory turnover ratio demonstrates periods of both acceleration and deceleration, reflecting possibly seasonal variations, strategic inventory adjustments, or changes in sales dynamics. The significant peak in early 2023 suggests a period of highly efficient inventory turnover or increased sales volume, while the fluctuations highlight ongoing adjustments in inventory management strategies over the analyzed timeframe.