Fox Corp Class B (FOX)

Return on equity (ROE)

		Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Net income	US$ in thousands	2,263,000	1,501,000	1,239,000	1,205,000	2,150,000
Total stockholders’ equity	US$ in thousands	11,962,000	10,714,000	10,378,000	11,339,000	11,123,000
ROE		18.92%	14.01%	11.94%	10.63%	19.33%

June 30, 2025 calculation

ROE = Net income ÷ Total stockholders’ equity
= $2,263,000K ÷ $11,962,000K
= 18.92%

The analysis of Fox Corp Class B's return on equity (ROE) over the specified period indicates notable fluctuations that reflect shifts in the company's profitability and efficiency in utilizing shareholders' equity. As of June 30, 2021, the ROE stood at 19.33%, representing a relatively high level of return generated from shareholders' equity, indicative of solid profitability during that year.

By June 30, 2022, the ROE declined significantly to 10.63%, nearly halving compared to the previous year. This reduction suggests a decrease in net income relative to shareholders' equity, potentially due to lower earnings, increased equity base, or a combination of both factors. The subsequent year, June 30, 2023, saw a modest recovery to 11.94%, indicating a slight improvement in profitability but still remaining well below the levels observed in 2021.

Moving forward, the ROE increased to 14.01% as of June 30, 2024, reflecting an upward trend in the company's ability to generate earnings from shareholders' investments. This positive movement could be attributed to improved operational performance or better capital management. The most recent data point, June 30, 2025, indicates a further substantial increase to 18.92%, approaching the earlier high of 2021. This upward trajectory suggests that Fox Corp Class B has enhanced its efficiency or profitability, restoring a higher return on shareholders' equity.

Overall, the trend demonstrates periods of decline followed by recovery, with the recent years showing improvement towards higher ROE levels. The fluctuations may be influenced by broader market conditions, strategic initiatives, or changes in net income and equity levels. However, despite the volatility, the company demonstrates an ability to restore and improve its return on equity over time, which is an important indicator of its financial health and management effectiveness.