Fox Corp Class B (FOX)
Pretax margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 3,061,000 | 2,553,000 | 3,040,000 | 2,656,000 | 2,104,000 | 2,158,000 | 1,146,000 | 1,452,000 | 1,736,000 | 1,678,000 | 2,119,000 | 1,587,000 | 1,694,000 | 1,604,000 | 1,992,000 | 2,391,000 | 2,918,000 | 2,761,000 | 2,128,000 | 2,243,000 |
| 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 |
| Pretax margin | 18.78% | 15.85% | 20.03% | 18.53% | 15.05% | 15.50% | 7.87% | 9.73% | 11.64% | 11.25% | 14.83% | 11.24% | 12.12% | 11.60% | 14.66% | 18.06% | 22.60% | 22.20% | 16.81% | 18.16% |
June 30, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $3,061,000K ÷ $16,300,000K
= 18.78%
The pretax margin for Fox Corp Class B has exhibited notable fluctuations over the observed period, reflecting shifts in profitability before income taxes. At the beginning of the period, as of September 30, 2020, the pretax margin stood at approximately 18.16%. This figure declined slightly by December 31, 2020, to around 16.81%, indicating a modest reduction in pretax profitability.
Subsequently, the margin increased significantly in the first quarter of 2021, reaching approximately 22.20%, and maintained a similar level through the second quarter at around 22.60%. This period represented a peak in pretax profitability, perhaps attributable to favorable operational or market conditions.
From late 2021 onward, a downward trend is evident. The pretax margin declined steadily, reaching approximately 14.66% by the end of 2021, and continued descending into 2022 with a notable low of about 11.60% in March 2022. During mid-2022 to late 2023, the margin remained relatively subdued, fluctuating between roughly 11.24% and 14.83%. This sustained decline suggests increased operating costs, changing revenue compositions, or other factors impacting pretax profitability.
In the most recent period, from September 30, 2023, onward, the pretax margin demonstrated signs of recovery. It increased to approximately 15.50% in the first quarter of 2024, then further improved to about 18.53% in September 2024, and ultimately peaked at 20.03% at the end of 2024. This upward trend indicates an improvement in pretax profitability, potentially due to cost management, revenue growth, or strategic operational adjustments.
Looking into the forecasted data into mid-2025, the pretax margin shows some variability, with projections of around 15.85% in March 2025 and an increase to approximately 18.78% in June 2025. Overall, the trend suggests a cyclical pattern with periods of decline and recovery, culminating in a notable upward movement in late 2024 and into mid-2025, reflecting a period of improved profitability before potential stabilization or further fluctuations.
Peer comparison
Jun 30, 2025