Fox Corp Class A (FOXA)

Solvency ratios

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
Debt-to-assets ratio 0.30 0.33 0.31 0.28 0.27 0.27 0.31 0.32 0.32 0.33 0.31 0.31 0.31 0.31 0.35 0.35 0.37 0.33 0.33 0.33
Debt-to-capital ratio 0.38 0.41 0.41 0.36 0.36 0.37 0.38 0.38 0.39 0.39 0.39 0.39 0.39 0.39 0.42 0.42 0.44 0.40 0.40 0.40
Debt-to-equity ratio 0.62 0.68 0.70 0.57 0.57 0.59 0.62 0.63 0.64 0.64 0.64 0.63 0.65 0.65 0.73 0.74 0.79 0.67 0.65 0.65
Financial leverage ratio 2.05 2.06 2.23 2.08 2.11 2.20 1.99 1.95 1.96 1.97 2.03 2.03 2.06 2.07 2.08 2.08 2.15 2.00 1.98 1.99

The solvency ratios of Fox Corp Class A show the company's ability to meet its long-term financial obligations and the extent of its reliance on debt financing.

1. Debt-to-assets ratio: This ratio indicates the proportion of the company's assets financed by debt. The decreasing trend in the debt-to-assets ratio from 0.35 in September 2020 to 0.30 in June 2024 suggests that Fox Corp has become less reliant on debt to finance its assets over time.

2. Debt-to-capital ratio: This ratio provides insights into the company's capital structure. Fox Corp's debt-to-capital ratio has fluctuated between 0.36 and 0.44 over the analyzed period, indicating a relatively stable mix of debt and equity in its capital structure.

3. Debt-to-equity ratio: This ratio compares the company's debt to its equity, reflecting the level of financial risk. Fox Corp's debt-to-equity ratio has ranged from 0.57 to 0.79, with some fluctuations, but generally maintaining a moderate level of debt relative to equity.

4. Financial leverage ratio: This ratio highlights the extent to which the company is using debt to finance its operations. Fox Corp's financial leverage ratio has fluctuated between 1.95 and 2.23, indicating that the company has been moderately leveraged over the analyzed period.

Overall, Fox Corp Class A has shown some fluctuations in its solvency ratios, but generally, the company has maintained a moderate level of debt and has been able to manage its financial obligations effectively.

Coverage ratios

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
Interest coverage 6.10 6.33 3.96 5.07 5.93 5.70 6.85 5.25 5.42 11.87 12.67 13.67 14.93 11.40 10.01 10.51 8.62 11.91 13.76 15.81

The interest coverage ratio for Fox Corp Class A has shown fluctuations over the past few quarters, ranging from a low of 3.96 in December 2023 to a high of 15.81 in September 2019. Generally, a higher interest coverage ratio indicates the company's ability to meet its interest obligations with its operating income.

In recent quarters, the interest coverage ratio has been above 5, suggesting that Fox Corp has been generating sufficient operating income to comfortably cover its interest expenses. The ratio peaked at 15.81 in September 2019 and stayed consistently high until March 2022, indicating a strong ability to service debt obligations during that period.

However, the ratio declined in the following quarters, hitting a low of 3.96 in December 2023, which may raise some concerns about the company's ability to cover interest payments from its operating earnings. It's important for investors and creditors to monitor this trend closely to assess Fox Corp's financial health and debt servicing capabilities going forward.