News Corp B (NWS)
Pretax margin
| 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 tax but after interest (EBT) (ttm) | US$ in thousands | 923,000 | 895,000 | 840,000 | 701,000 | 592,000 | 465,000 | 460,000 | 324,000 | 330,000 | 327,000 | 369,000 | 575,000 | 812,000 | 725,000 | 731,000 | 716,000 | 450,000 | 156,000 | -1,029,000 | -1,220,000 |
| Revenue (ttm) | US$ in thousands | 8,452,000 | 9,401,000 | 9,386,000 | 9,283,000 | 9,205,000 | 9,061,000 | 9,514,000 | 9,900,000 | 9,879,000 | 10,120,000 | 10,165,000 | 10,361,000 | 10,385,000 | 10,203,000 | 10,046,000 | 9,743,000 | 9,358,000 | 8,789,000 | 8,720,000 | 8,785,000 |
| Pretax margin | 10.92% | 9.52% | 8.95% | 7.55% | 6.43% | 5.13% | 4.83% | 3.27% | 3.34% | 3.23% | 3.63% | 5.55% | 7.82% | 7.11% | 7.28% | 7.35% | 4.81% | 1.77% | -11.80% | -13.89% |
June 30, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $923,000K ÷ $8,452,000K
= 10.92%
The pretax margin of News Corp B exhibits a significant variation over the analyzed period. Starting from a negative figure of -13.89% as of September 30, 2020, the margin gradually improved, moving closer to breakeven by December 31, 2020, at -11.80%. Throughout 2021, the pretax margin transitioned into positive territory, reaching 1.77% in March 2021 and continuing an upward trend, culminating at 7.35% by September 30, 2021, and stabilizing around similar levels through December 31, 2021 (7.28%) and March 31, 2022 (7.11%).
In the subsequent period, the pretax margin experienced a slight decline, noted at 5.55% as of September 30, 2022, and decreasing to 3.63% by December 31, 2022, and 3.23% in March 2023. Despite this downward trend, the margin showed signs of recovery in the following quarters, rising to 3.34% by June 30, 2023, and slightly decreasing again to 3.27% by September 30, 2023.
From late 2023 onwards, a positive upward trajectory is observed, with the pretax margin climbing to 4.83% by December 31, 2023, and further increasing through the first half of 2024—reaching 5.13% by March 31, 2024 and 6.43% by June 30, 2024. This upward trend continued into the third quarter of 2024, where the margin stood at 7.55%. The outlook remains optimistic, with projections indicating continued improvement, as the pretax margin is forecasted to reach 8.95% by December 2024, 9.52% by March 2025, and 10.92% by June 2025.
Overall, the pretax margin reflects a transition from substantial losses in 2020 to sustained profitability and an upward momentum in recent periods, suggesting improved cost control, revenue growth, or enhanced operational efficiencies contributing to a progressively healthier profit before taxes.
Peer comparison
Jun 30, 2025