Fox Corp Class A (FOXA)
Return on total capital
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 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 2,850,000 | 2,962,000 | 3,454,000 | 3,072,000 | 2,509,000 | 2,554,000 | 1,529,000 | 1,805,000 | 2,085,000 | 2,032,000 | 2,478,000 | 1,954,000 | 2,071,000 | 1,988,000 | 2,383,000 | 2,784,000 | 3,313,000 | 3,157,000 | 2,515,000 | 2,621,000 |
Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
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 |
Return on total capital | 23.83% | 25.70% | 30.05% | 27.24% | 23.42% | 24.20% | 14.91% | 17.38% | 20.09% | 19.95% | 21.35% | 16.96% | 18.26% | 17.75% | 21.14% | 24.36% | 29.79% | 28.49% | 23.04% | 24.29% |
June 30, 2025 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $2,850,000K ÷ ($—K + $11,962,000K)
= 23.83%
The return on total capital for Fox Corp Class A experienced variability over the period from September 2020 to June 2025. Initially, the metric was notably high at 24.29% as of September 30, 2020, indicating efficient utilization of total capital during that time. The figure declined slightly by December 31, 2020, to 23.04%, reflecting a modest decrease in return efficiency.
Throughout 2021, the return on total capital showed an overall increasing trend, reaching a peak of 29.79% as of June 30, 2021. This improvement suggests enhanced operational performance and better capital deployment efficiency during this period. However, the latter part of 2021 saw a decline, with the figure dropping to 21.14% by December 31, 2021, and further decreasing to 17.75% as of March 31, 2022.
In 2022, the return on total capital continued to decline, reaching 16.96% in September 2022, and then a slight rebound to 21.35% at year-end. The first quarter of 2023 showed a modest decrease to 19.95%, followed by a slight increase in the subsequent quarter to 20.09%. However, the return declined again, reaching 17.38% as of September 30, 2023, and further down to 14.91% at the end of 2023.
Beginning in early 2024, there was a notable recovery in the return on total capital, rising to 24.20% in March 2024 and maintaining elevated levels at 23.42% in June 2024. The most recent data point shows a significant increase to 27.24% as of September 30, 2024, and an even higher value of 30.05% at year-end 2024. The first quarter of 2025 continued this positive trend with a return of 25.70%, though it slightly declined to 23.83% in June 2025.
Overall, the data indicates a cyclical pattern of fluctuations with periods of strong returns followed by declines. The recent upward trend from early 2024 through the third quarter of 2024 and into mid-2025 suggests improved operational efficiency or strategic initiatives enhancing the company's profitability relative to its total capital base.
Peer comparison
Jun 30, 2025