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