Fox Corp Class B (FOX)

Pretax margin

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	2,051,000	2,112,000	1,134,000	1,438,000	1,722,000	1,656,000	2,094,000	1,558,000	1,666,000	4,196,000	4,576,000	4,981,000	5,504,000	4,118,000	3,488,000	3,595,000	2,813,000	3,928,000	4,491,000	4,101,000
Revenue (ttm)	US$ in thousands	13,995,000	13,934,000	14,571,000	14,954,000	14,913,000	15,016,000	14,351,000	14,150,000	13,974,000	13,546,000	13,397,000	13,140,000	12,909,000	12,437,000	12,662,000	12,353,000	12,303,000	12,398,000	11,710,000	11,515,000
Pretax margin		14.66%	15.16%	7.78%	9.62%	11.55%	11.03%	14.59%	11.01%	11.92%	30.98%	34.16%	37.91%	42.64%	33.11%	27.55%	29.10%	22.86%	31.68%	38.35%	35.61%

June 30, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $2,051,000K ÷ $13,995,000K
= 14.66%

The pretax margin of Fox Corp Class B has shown fluctuations over the periods in review. It peaked at 42.64% in September 2021, indicating strong profitability before declining in subsequent periods. The pretax margin declined to 7.78% in December 2023, but has since shown some recovery, reaching 14.66% in June 2024. This indicates varying levels of efficiency in generating profits before accounting for taxes. A pretax margin above 20% generally suggests healthy profitability, while figures below 10% may indicate potential issues with cost management or revenue generation. It would be important to further investigate the drivers behind these fluctuations to assess the company's overall financial health and performance.