Fox Corp Class B (FOX)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.30 | 0.33 | 0.31 | 0.28 | 0.27 | 0.27 | 0.31 | 0.32 | 0.32 | 0.33 | 0.31 | 0.31 | 0.31 | 0.31 | 0.35 | 0.35 | 0.37 | 0.33 | 0.33 | 0.33 |
| Debt-to-capital ratio | 0.38 | 0.41 | 0.41 | 0.36 | 0.36 | 0.37 | 0.38 | 0.38 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.42 | 0.42 | 0.44 | 0.40 | 0.40 | 0.40 |
| Debt-to-equity ratio | 0.62 | 0.68 | 0.70 | 0.57 | 0.57 | 0.59 | 0.62 | 0.63 | 0.64 | 0.64 | 0.64 | 0.63 | 0.65 | 0.65 | 0.73 | 0.74 | 0.79 | 0.67 | 0.65 | 0.65 |
| Financial leverage ratio | 2.05 | 2.06 | 2.23 | 2.08 | 2.11 | 2.20 | 1.99 | 1.95 | 1.96 | 1.97 | 2.03 | 2.03 | 2.06 | 2.07 | 2.08 | 2.08 | 2.15 | 2.00 | 1.98 | 1.99 |
The solvency ratios of Fox Corp Class B provide insights into the company's ability to meet its long-term financial obligations.
The debt-to-assets ratio has remained relatively stable around 0.30 to 0.33 over the past several quarters, indicating that approximately 30% to 33% of the company's assets are financed by debt.
The debt-to-capital ratio has also shown consistency, ranging from 0.38 to 0.41. This ratio reflects the proportion of a company's capital structure that is debt-funded, with Fox Corp Class B maintaining about 38% to 41% debt in its capital mix.
The debt-to-equity ratio has shown some fluctuation but generally remains around 0.62 to 0.70, indicating that Fox Corp Class B has been relying more heavily on debt compared to equity to finance its operations, with debt representing approximately 62% to 70% of its equity.
The financial leverage ratio has fluctuated between 1.95 to 2.23, showing the company's level of financial leverage and its reliance on debt financing. A higher ratio signifies a higher level of debt relative to equity, indicating increased financial risk.
Overall, based on these solvency ratios, Fox Corp Class B has maintained a stable level of debt relative to its assets, capital, and equity over the periods analyzed. Investors and stakeholders should continue to monitor these ratios to assess the company's long-term financial health and risk profile.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 6.10 | 6.33 | 3.96 | 5.07 | 5.93 | 5.70 | 6.85 | 5.25 | 5.42 | 11.87 | 12.67 | 13.67 | 14.93 | 11.40 | 10.01 | 10.51 | 8.62 | 11.91 | 13.76 | 15.81 |
Fox Corp Class B has shown varying levels of interest coverage over the past few years, as evidenced by the fluctuations in the interest coverage ratio. The interest coverage ratio measures the company's ability to pay its interest expenses on outstanding debt with its operating income.
From Dec 2019 to Mar 2020, the interest coverage ratio was relatively stable, ranging between 10.51 to 11.91, indicating a comfortable ability to cover interest expenses with operating income. However, in Jun 2020, there was a significant increase in the interest coverage ratio to 15.81, reflecting a substantial improvement in the company's ability to meet interest obligations.
Subsequently, the interest coverage ratio experienced some fluctuations between Sep 2020 to Dec 2021, with ratios averaging around 10.00 to 14.93. This suggests that Fox Corp Class B continued to maintain a healthy interest coverage ratio during this period.
In Mar 2022, there was a notable spike in the interest coverage ratio to 11.87, followed by even higher ratios in Jun 2022 (12.67) and Sep 2022 (13.67). These values indicate a significant increase in the company's ability to cover interest expenses, which may be attributed to improved operating performance or reduced interest costs.
However, there was a slight decline in interest coverage in Dec 2022, with the ratio falling to 6.85. This decrease may warrant further investigation to understand the reasons behind the decline in interest coverage.
Overall, Fox Corp Class B has demonstrated a generally positive trend in interest coverage, with some fluctuations in the ratio over the analyzed period. It is essential for stakeholders to monitor the interest coverage ratio closely to ensure the company's ability to meet its debt obligations and sustain financial health.