Fox Corp Class A (FOXA)

Return on equity (ROE)

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
Net income (ttm) US$ in thousands 2,263,000 1,865,000 2,185,000 1,921,000 1,501,000 1,557,000 837,000 1,041,000 1,239,000 1,170,000 1,507,000 1,109,000 1,205,000 1,152,000 1,436,000 1,745,000 2,150,000 2,019,000 1,530,000 1,606,000
Total stockholders’ equity US$ in thousands 11,962,000 11,526,000 11,495,000 11,276,000 10,714,000 10,554,000 10,252,000 10,384,000 10,378,000 10,185,000 11,607,000 11,521,000 11,339,000 11,200,000 11,275,000 11,430,000 11,123,000 11,081,000 10,917,000 10,791,000
ROE 18.92% 16.18% 19.01% 17.04% 14.01% 14.75% 8.16% 10.03% 11.94% 11.49% 12.98% 9.63% 10.63% 10.29% 12.74% 15.27% 19.33% 18.22% 14.01% 14.88%

June 30, 2025 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $2,263,000K ÷ $11,962,000K
= 18.92%

The analysis of Fox Corp Class A's return on equity (ROE) over the period from September 2020 through June 2025 indicates notable fluctuations with an overall pattern of variability influenced by operational performance and external market conditions.

Initially, the ROE in September 2020 stood at 14.88%, reflecting a moderate level of profitability relative to shareholders’ equity amid the early COVID-19 pandemic period. This was followed by a slight decline to 14.01% at the end of December 2020, possibly due to market disruptions or decreased earnings.

From March 2021 onward, there was a marked improvement, with ROE rising to 18.22% and peaking at 19.33% in June 2021. This escalation suggests enhanced profitability and efficient utilization of equity capital during this period, potentially driven by improved advertising revenues, content licensing, or operational restructuring.

However, this upward trend was not sustained. Throughout late 2021 and into 2022, ROE experienced a declining trajectory, reaching a low of 9.63% in September 2022. The decline could reflect increased expenses, competitive pressures, or broader economic challenges impacting profitability.

In late 2022 and early 2023, ROE experienced some recovery, rising to approximately 12.98% in December 2022 and hovering around 11.49% to 11.94% in 2023. Nonetheless, the data indicates ongoing volatility, with the ROE decreasing again to 10.03% in September 2023.

Subsequently, a notable uptick was observed, with ROE rising to 17.04% in September 2024 and reaching 19.01% in December 2024, suggesting a period of improved profitability and efficient asset utilization. The subsequent quarters showed some moderation but remained relatively high, with ROE at 16.18% in March 2025 and 18.92% in June 2025.

Overall, the ROE trend exhibits cycles of growth and contraction, reflecting the company's responsiveness to market dynamics, operational efficiencies, and possibly strategic shifts. The recent increase towards 2024 indicates a period of strong profitability, yet the fluctuations highlight potential vulnerability to external economic factors and industry-specific challenges.