Fox Corp Class A (FOXA)

Working capital turnover

		Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Revenue	US$ in thousands	16,300,000	13,980,000	14,913,000	13,974,000	12,909,000
Total current assets	US$ in thousands	8,429,000	7,501,000	7,257,000	8,281,000	8,749,000
Total current liabilities	US$ in thousands	2,897,000	2,952,000	3,763,000	2,296,000	3,002,000
Working capital turnover		2.95	3.07	4.27	2.33	2.25

June 30, 2025 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $16,300,000K ÷ ($8,429,000K – $2,897,000K)
= 2.95

The working capital turnover ratio for Fox Corp Class A demonstrates notable fluctuations over the observed period from June 30, 2021, to June 30, 2025.

In the fiscal year ending June 30, 2021, the ratio was 2.25, indicating a moderate level of efficiency in utilizing working capital to generate sales. This ratio experienced a slight increase in the subsequent year, reaching 2.33 by June 30, 2022, reflecting a marginal improvement in operational efficiency or sales relative to working capital.

A more significant shift is observed in the subsequent fiscal year ending June 30, 2023, where the ratio substantially increased to 4.27. This indicates that the company was able to generate more sales per unit of working capital, suggesting a period of heightened operational efficiency, potentially driven by improved sales, better working capital management, or both.

Following this peak, the ratio declined to 3.07 by June 30, 2024, and further to 2.95 by June 30, 2025. These decreases suggest a moderation in the company's efficiency in leveraging working capital to support sales activities. The reduction from the 2023 peak could be attributable to increases in working capital expenses, decreases in sales productivity, or changes in the operational environment that impacted the overall ratio.

Overall, the trend indicates an initial steady increase in working capital efficiency culminating in a peak in 2023, followed by a moderate decline thereafter. The fluctuations reflect changing operational dynamics, necessitating closer examination of underlying factors such as sales growth, inventory management, receivable and payable cycles, and strategic shifts within the company to better understand the causes behind these variations.