Fox Corp Class B (FOX)

Financial leverage ratio

		Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Total assets	US$ in thousands	23,195,000	21,972,000	21,866,000	22,185,000	22,926,000
Total stockholders’ equity	US$ in thousands	11,962,000	10,714,000	10,378,000	11,339,000	11,123,000
Financial leverage ratio		1.94	2.05	2.11	1.96	2.06

June 30, 2025 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $23,195,000K ÷ $11,962,000K
= 1.94

The financial leverage ratio of Fox Corp Class B, as derived from the provided data, exhibits fluctuations over the analyzed period from June 30, 2021, to June 30, 2025. Specifically, the ratio stood at 2.06 in 2021, decreased to 1.96 in 2022, then increased again to reach 2.11 in 2023. Following this peak, it declined slightly to 2.05 in 2024 and further decreased to 1.94 in 2025.

The observed pattern indicates a relative stability around a level slightly above 2 throughout the period, with minor fluctuations suggesting a generally consistent approach to financial leverage. The minor decreases in 2022 and 2024-2025 could reflect efforts to reduce debt levels or improve equity positions, whereas the increases in 2023 may have resulted from increased leverage or debt restructuring activities.

Overall, the data suggests that Fox Corp Class B maintains a moderate to high degree of financial leverage, consistently employing debt financing relative to equity. The subtle oscillations over the years may signify tactical adjustments in capital structure, but the ratio remains within a range that indicates a balanced approach to leveraging financial obligations relative to shareholders’ equity.