Fox Corp Class A (FOXA)
Operating return on assets (Operating ROA)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 398,000 | 315,000 | 246,000 | 378,000 | 604,000 | 827,000 | 825,000 | 659,000 | 654,000 | 3,144,000 | 3,384,000 | 3,523,000 | 3,725,000 | 2,369,000 | 2,385,000 | 2,366,000 | 2,132,000 | 3,111,000 | 3,065,000 | 3,353,000 |
| Total assets | US$ in thousands | 21,972,000 | 21,717,000 | 22,846,000 | 21,649,000 | 21,866,000 | 22,396,000 | 23,126,000 | 22,424,000 | 22,185,000 | 22,016,000 | 22,878,000 | 23,161,000 | 22,926,000 | 22,907,000 | 22,754,000 | 22,497,000 | 21,750,000 | 20,237,000 | 20,450,000 | 20,534,000 |
| Operating ROA | 1.81% | 1.45% | 1.08% | 1.75% | 2.76% | 3.69% | 3.57% | 2.94% | 2.95% | 14.28% | 14.79% | 15.21% | 16.25% | 10.34% | 10.48% | 10.52% | 9.80% | 15.37% | 14.99% | 16.33% |
June 30, 2024 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $398,000K ÷ $21,972,000K
= 1.81%
The operating return on assets (ROA) for Fox Corp Class A has shown fluctuations over the past several quarters. The trend indicates a decline in operating ROA from a high of 16.33% in the fourth quarter of 2019 to 1.08% in the fourth quarter of 2023, before recovering slightly to 1.81% in the second quarter of 2024.
The significant decrease in operating ROA between 2019 and 2023 raises concerns about the company's operational efficiency and profitability. It is worth noting that the operating ROA saw a substantial spike in the first quarter of 2022 and remained elevated until the second quarter of 2022, suggesting a period of strong performance. However, this was followed by a decline in subsequent quarters.
The current operating ROA of 1.81% in the second quarter of 2024 indicates that, for every dollar of assets employed in operations, the company generated 1.81 cents in operating income. This level of return may be considered low compared to previous periods, indicating potential challenges in effectively utilizing its assets to generate profits.
Overall, Fox Corp Class A's operating ROA trend warrants further investigation into the underlying factors affecting the company's profitability and operational efficiency. Further analysis of the company's financial performance, asset utilization, and cost management practices may provide insights into the drivers of the fluctuating operating ROA.
Peer comparison
Jun 30, 2024