Fox Corp Class A (FOXA)
Inventory turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 8,759,000 | 10,641,000 | 9,824,000 | 9,538,000 | 9,478,000 | 9,477,000 | 10,162,000 | 10,303,000 | 10,100,000 | 10,033,000 | 9,456,000 | 9,585,000 | 9,480,000 | 9,388,000 | 9,095,000 | 8,681,000 | 8,199,000 | 7,664,000 | 7,762,000 | 7,507,000 |
| Inventory | US$ in thousands | 432,000 | 455,000 | 1,171,000 | 795,000 | 626,000 | 660,000 | 1,038,000 | 751,000 | 543,000 | 487,000 | 1,300,000 | 1,020,000 | 791,000 | 786,000 | 1,148,000 | 1,135,000 | 729,000 | 685,000 | 1,020,000 | 1,271,000 |
| Inventory turnover | 20.28 | 23.39 | 8.39 | 12.00 | 15.14 | 14.36 | 9.79 | 13.72 | 18.60 | 20.60 | 7.27 | 9.40 | 11.98 | 11.94 | 7.92 | 7.65 | 11.25 | 11.19 | 7.61 | 5.91 |
June 30, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $8,759,000K ÷ $432,000K
= 20.28
The inventory turnover ratio for Fox Corp Class A has exhibited notable fluctuations over the specified periods, reflecting varying efficiency levels in managing inventory.
Initially, at the end of September 2020, the ratio stood at 5.91, indicating a relatively lower frequency of inventory sales and replenishment within the year. This increased modestly through the end of 2020 to 7.61 by December 31, 2020, and experienced a significant upward movement by March 31, 2021, reaching 11.19, followed closely by June 30, 2021, at 11.25. These increases suggest an improvement in inventory management, with inventory turning over more frequently, likely corresponding to operational enhancements or strategic shifts.
Throughout 2021, the ratio remained relatively stable, hovering in the range of approximately 7.65 to 7.92, before a substantial surge was observed at the end of March 2022, with the ratio jumping to 11.94 and further to 11.98 by June 30, 2022. This escalation indicates a marked enhancement in inventory turnover efficiency during this period.
In the subsequent quarters of 2022, the ratio saw a decline, decreasing to 9.40 in September 2022 and dropping further to 7.27 by December 2022. This suggests a slowdown in inventory velocity, possibly attributable to increased inventory levels, decreased sales, or strategic inventory build-ups.
Early 2023 marked a significant peak, with the ratio reaching 20.60 in March 2023, reflecting an exceptionally high turnover rate that could imply a swift sale of inventory or stringent inventory management policies. This high point was somewhat moderated to 18.60 in June 2023 and then declined to 13.72 in September 2023, indicating a normalization in inventory activity but still remaining elevated relative to earlier periods.
In late 2023 and into 2024, the ratio decreased further to 9.79 in December 2023 but experienced a slight increase in March 2024 to 14.36, with subsequent quarters maintaining ratios around the mid-teens. The September 2024 figure of 12.00 and December 2024's 8.39 suggest fluctuations possibly linked to seasonal factors or changes in the inventory management approach.
Looking into 2025 data, the inventory turnover ratio shows a significant upward trend again, reaching 23.39 in March and 20.28 in June, indicating a possible strategic focus on rapid inventory clearance or increased sales activity, thereby maintaining higher inventory efficiency levels.
Overall, the trend of the inventory turnover ratio demonstrates periods of both steady improvement and fluctuation, with notable peaks and troughs. The sharp increases observed in early 2023 and the first quarter of 2025 mark points of enhanced inventory movement, while periods of decline may suggest inventory build-up or reduced sales velocity. This pattern warrants further investigation into the company's operational strategies, product mix, and external market factors influencing inventory management efficiency.
Peer comparison
Jun 30, 2025
Jun 30, 2025