Fox Corp Class B (FOX)
Working capital 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 16,300,000 | 16,105,000 | 15,181,000 | 14,337,000 | 13,980,000 | 13,920,000 | 14,557,000 | 14,928,000 | 14,913,000 | 14,914,000 | 14,285,000 | 14,121,000 | 13,974,000 | 13,831,000 | 13,591,000 | 13,237,000 | 12,909,000 | 12,437,000 | 12,662,000 | 12,353,000 |
| Total current assets | US$ in thousands | 8,429,000 | 8,749,000 | 8,237,000 | 7,793,000 | 7,501,000 | 7,178,000 | 8,501,000 | 7,239,000 | 7,257,000 | 7,723,000 | 8,571,000 | 8,495,000 | 8,281,000 | 7,916,000 | 8,514,000 | 8,875,000 | 8,749,000 | 8,694,000 | 8,440,000 | 8,463,000 |
| Total current liabilities | US$ in thousands | 2,897,000 | 3,567,000 | 3,297,000 | 3,005,000 | 2,952,000 | 2,217,000 | 3,707,000 | 3,589,000 | 3,763,000 | 4,402,000 | 2,543,000 | 2,362,000 | 2,296,000 | 2,121,000 | 2,870,000 | 2,869,000 | 3,002,000 | 2,985,000 | 2,213,000 | 2,012,000 |
| Working capital turnover | 2.95 | 3.11 | 3.07 | 2.99 | 3.07 | 2.81 | 3.04 | 4.09 | 4.27 | 4.49 | 2.37 | 2.30 | 2.33 | 2.39 | 2.41 | 2.20 | 2.25 | 2.18 | 2.03 | 1.91 |
June 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $16,300,000K ÷ ($8,429,000K – $2,897,000K)
= 2.95
The working capital turnover ratio for Fox Corp Class B exhibited significant fluctuations over the analyzed period from September 30, 2020, through June 30, 2025. Starting at 1.91 in September 2020, the ratio gradually increased, reaching a peak of approximately 4.49 in the first quarter of 2023. This upward trend indicates an increase in the efficiency of utilizing working capital to generate revenues, suggesting improved operational effectiveness or a favorable shift in working capital management during this period.
Following the peak in early 2023, the ratio experienced a decline, decreasing to around 2.81 by March 2024 and fluctuating slightly thereafter. The decline suggests a reduction in efficiency, potentially due to increases in working capital relative to sales, or operational adjustments affecting liquidity management.
Throughout the subsequent periods, the ratio maintained values generally between approximately 2.80 and 3.10, indicating a stabilization phase after the earlier volatility. The overall pattern suggests that Fox Corp's ability to convert working capital into revenue has improved notably during the early part of 2023 but has since moderated to a steadier, albeit lower, level.
This fluctuation pattern could reflect underlying changes in operational strategies, seasonal effects, or adjustments in working capital components such as receivables, inventory, and payables. The sharp increase in early 2023 denotes a period where the company managed to maximize the efficiency of its working capital utilization; however, the subsequent decline indicates a need to monitor working capital planning to sustain optimal operational efficiency.
In summary, the working capital turnover ratio for Fox Corp Class B shows a pronounced peak in early 2023, followed by a normalization phase, indicating shifts in operational efficiency and working capital management strategies over the analyzed timeframe.
Peer comparison
Jun 30, 2025