Fox Corp Class A (FOXA)

Financial leverage ratio

		Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Total assets	US$ in thousands	23,195,000	21,972,000	21,866,000	22,185,000	22,926,000
Total stockholders’ equity	US$ in thousands	11,962,000	10,714,000	10,378,000	11,339,000	11,123,000
Financial leverage ratio		1.94	2.05	2.11	1.96	2.06

June 30, 2025 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $23,195,000K ÷ $11,962,000K
= 1.94

The financial leverage ratio of Fox Corp Class A over the examined period demonstrates a relatively stable yet slightly fluctuating trend.

On June 30, 2021, the ratio stood at 2.06, indicating that the company employed approximately twice as much debt as equity to finance its assets. This level suggests a moderate reliance on debt financing, consistent with typical leverage practices for media and entertainment companies.

By June 30, 2022, the ratio decreased marginally to 1.96, reflecting a slight reduction in leverage or an increase in equity relative to debt. This may indicate efforts to reduce debt levels or grow equity through retained earnings or new issuance.

In the following year, June 30, 2023, the ratio increased to 2.11, surpassing the 2021 level and signaling a modest increase in leverage. This shift could stem from additional borrowing or reductions in equity, potentially aligning with strategic investments, acquisitions, or dividend policies impacting the capital structure.

Subsequently, on June 30, 2024, the ratio declined again slightly to 2.05, indicating a minor reduction in leverage, aligning more closely with the 2021 level.

Finally, on June 30, 2025, the ratio further decreased to 1.94, representing the lowest leverage point in the observed period. This trend towards lower financial leverage suggests a possible strategic move towards deleveraging, potentially enhancing financial stability or preparing for fluctuating revenue streams.

Overall, the financial leverage ratio for Fox Corp Class A exhibits minor fluctuations within a narrow range of approximately 1.94 to 2.11 across five fiscal years. The trend indicates a strategic or operational balancing act, maintaining moderate leverage levels while periodically adjusting debt and equity compositions to align with corporate objectives.