Fox Corp Class B (FOX)

Operating return on assets (Operating ROA)

		Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Operating income	US$ in thousands	3,229,000	2,478,000	2,764,000	2,065,000	3,348,000
Total assets	US$ in thousands	23,195,000	21,972,000	21,866,000	22,185,000	22,926,000
Operating ROA		13.92%	11.28%	12.64%	9.31%	14.60%

June 30, 2025 calculation

Operating ROA = Operating income ÷ Total assets
= $3,229,000K ÷ $23,195,000K
= 13.92%

The operating return on assets (operating ROA) for Fox Corp Class B has demonstrated fluctuations over the period from June 30, 2021, to June 30, 2025. As of June 30, 2021, the operating ROA stood at 14.60%, indicating a relatively strong ability to generate operating income from the company's asset base. However, during the subsequent year, this ratio declined significantly to 9.31% by June 30, 2022, reflecting a decrease of approximately 36.2%, which may suggest reduced operating efficiency or increased asset base without a commensurate increase in operating income.

Following this trough, the operating ROA experienced a recovery, rising to 12.64% as of June 30, 2023. Despite the improvement, it remained below the 2021 level, indicating a partial rebound in operational efficiency or asset utilization. The subsequent year saw a slight decline to 11.28% by June 30, 2024, representing a modest decrease and signaling potential challenges in maintaining prior performance levels.

Looking ahead, the forecast for June 30, 2025, projects an increase to 13.92%, surpassing the previous year's figure and approaching the 2021 level. This upward trend suggests a possible improvement in operational efficiency or asset management, potentially driven by strategic initiatives or favorable market conditions.

Overall, the company's operating ROA exhibits variability but demonstrates resilience with a long-term upward trajectory from the 2022 low, culminating in a projected recovery by mid-2025. Monitoring the underlying factors influencing asset utilization and operating income will be essential for a comprehensive understanding of future performance prospects.