Fox Corp Class A (FOXA)
Working capital 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 16,300,000 | 16,105,000 | 15,181,000 | 14,337,000 | 13,980,000 | 13,920,000 | 14,557,000 | 14,928,000 | 14,913,000 | 14,914,000 | 14,285,000 | 14,121,000 | 13,974,000 | 13,831,000 | 13,591,000 | 13,237,000 | 12,909,000 | 12,437,000 | 12,662,000 | 12,353,000 |
| Total current assets | US$ in thousands | 8,429,000 | 8,749,000 | 8,237,000 | 7,793,000 | 7,501,000 | 7,178,000 | 8,501,000 | 7,239,000 | 7,257,000 | 7,723,000 | 8,571,000 | 8,495,000 | 8,281,000 | 7,916,000 | 8,514,000 | 8,875,000 | 8,749,000 | 8,694,000 | 8,440,000 | 8,463,000 |
| Total current liabilities | US$ in thousands | 2,897,000 | 3,567,000 | 3,297,000 | 3,005,000 | 2,952,000 | 2,217,000 | 3,707,000 | 3,589,000 | 3,763,000 | 4,402,000 | 2,543,000 | 2,362,000 | 2,296,000 | 2,121,000 | 2,870,000 | 2,869,000 | 3,002,000 | 2,985,000 | 2,213,000 | 2,012,000 |
| Working capital turnover | 2.95 | 3.11 | 3.07 | 2.99 | 3.07 | 2.81 | 3.04 | 4.09 | 4.27 | 4.49 | 2.37 | 2.30 | 2.33 | 2.39 | 2.41 | 2.20 | 2.25 | 2.18 | 2.03 | 1.91 |
June 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $16,300,000K ÷ ($8,429,000K – $2,897,000K)
= 2.95
The analysis of Fox Corp Class A's working capital turnover ratio over the specified period reveals notable fluctuations that reflect changes in operational efficiency and working capital management.
From September 30, 2020, to December 31, 2021, the ratio exhibited a steady upward trend, increasing from 1.91 to 2.41. This suggests an improvement in how effectively the company utilized its working capital to generate revenue, potentially attributable to better receivables collection, inventory management, or overall operational efficiencies during this period.
Beginning in March 2022, the ratio experienced a sharp rise to 4.49, nearly doubling the previous period. This spike indicates a significant enhancement in working capital efficiency, possibly driven by optimized asset management, increased revenue relative to working capital, or strategic operational improvements. However, this elevated level was not sustained; by December 2023, the ratio had declined to 3.04, signaling a reduction in efficiency or an increase in working capital relative to revenue.
In the subsequent year, there was a slight fluctuation with the ratio oscillating in the range of approximately 2.81 to 3.11. These variations suggest periods of stabilization with modest changes in operational efficiency or working capital strategy adjustments. Notably, the ratio reached its lowest point during this period at 2.81 in March 2024, before marginally increasing again.
Overall, the trend indicates periods of operational improvement punctuated by some volatility. The substantial peak in March 2022 followed by a decline suggests that while the company temporarily enhanced its working capital utilization, maintaining such efficiency levels consistently beyond this period proved challenging. The fluctuations in the working capital turnover ratio reflect dynamic changes in the company's management of receivables, payables, and inventories amidst evolving operational and market conditions.
Peer comparison
Jun 30, 2025