Fox Class B
Operates FOX News, FOX Sports, Tubi, and the FOX broadcast network.
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Profile
Produces news, live sports, entertainment, local television, and streaming through FOX News Media, FOX Sports, the FOX network, Fox Television Stations, Tubi, and FOX One. Advertising and distribution fees drive revenue, with a predominantly U.S. footprint and continued exposure to pay-TV subscriber declines and sports-rights costs.
Produces and distributes news, sports, and entertainment across the FOX broadcast network, FOX News Media, FOX Sports, Fox Television Stations, Tubi, and FOX One. The portfolio is concentrated in the United States, spanning cable and virtual distributors, local broadcasting, free ad-supported streaming, and subscription streaming.
Builds around live, appointment-viewing programming and a broad domestic distribution footprint. Revenue comes mainly from advertising and distribution fees, including cable affiliate, retransmission, network-affiliation, and streaming subscription fees; Tubi extends advertising reach to viewers outside traditional pay television.
Cash generation remains tied to distributor renewals, audience levels, advertising demand, and costly long-term sports rights, while traditional subscriber counts continue to decline. Broadcast stations also operate under FCC ownership and licensing rules, and the agreed acquisition of Roku remains subject to shareholder and regulatory approvals.
Company facts
Key statistics
Year to date −7.0% · Average volume (30d) 1.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Wolfe Research | Target | $93 | |||
| Aug 14, 2026 | Wells Fargo | Upgrade | Underweight | Overweight | $80 | |
| Aug 14, 2026 | UBS | Upgrade | Buy | Neutral | ||
| Aug 14, 2026 | JP Morgan | Upgrade | Neutral | Overweight | ||
| Aug 7, 2026 | Seaport Global | Downgrade | Buy | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q4 FY26 | $1.44 | $1.79 | +24.3% | $3.64B | $4.21B | +15.7% | +6.07% |
| May 11, 2026Q3 FY26 | $0.99 | $1.32 | +33.6% | $3.78B | $3.99B | +5.7% | −2.80% |
| Feb 4, 2026Q2 FY26 | $0.51 | $0.82 | +60.8% | $5.06B | $5.18B | +2.4% | −2.71% |
| Oct 30, 2025Q1 FY26 | $1.06 | $1.51 | +42.5% | $3.57B | $3.74B | +4.8% | −0.71% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $4.37B | $3.29B | $3.74B | $5.18B | $3.99B | $4.21B | |
| Gross profit | $1.31B | $1.43B | $1.56B | $1.19B | $1.50B | $4.21B | |
| Operating income | $760.0M | $836.0M | $967.0M | $592.0M | $801.0M | $1.83B | |
| Net income | $346.0M | $717.0M | $599.0M | $229.0M | $166.0M | $691.0M | |
| Diluted EPS | $0.75 | $1.57 | $1.32 | $0.52 | $0.38 | $1.60 | |
| Gross margin | 30.0% | 43.4% | 41.6% | 22.9% | 37.6% | 100.0% | |
| Operating margin | 17.4% | 25.4% | 25.9% | 11.4% | 20.1% | 43.5% |
Fiscal years (4-quarter sums)FY22 $13.97B · FY23 $14.91B · FY24 $13.98B · FY25 $16.30B · FY26 $17.13B
Revenue by product · Q4 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $4.21B · Total debt $7.57B · Total assets $22.48B · Shareholders' equity $11.63B
Dividends
Raised for 6 straight years — most recently to $0.28 from $0.27 in Sep 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Mar 4, 2026 | Mar 4 | Mar 25 | $0.28 | |
| Sep 3, 2025 | Sep 3 | Sep 24 | $0.28 | raised from $0.27 |
| Mar 5, 2025 | Mar 5 | Mar 26 | $0.27 | |
| Sep 4, 2024 | Sep 4 | Sep 25 | $0.27 | raised from $0.26 |
| Mar 5, 2024 | Mar 6 | Mar 26 | $0.26 | |
| Aug 29, 2023 | Aug 30 | Sep 27 | $0.26 | raised from $0.25 |
| Feb 28, 2023 | Mar 1 | Mar 29 | $0.25 | |
| Aug 30, 2022 | Aug 31 | Sep 28 | $0.25 | raised from $0.24 |
Ownership
Shares outstanding 438.50M · Float 245.06M
This issuer lists more than one class and the share count spans them all, so a stake here reads as a share of the whole company, not of this class.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % of company | Form | Filed |
|---|---|---|---|---|
| Lachlan K. Murdoch · director, officer: Executive Chair, CEO | 86.77M | 19.79% | Form 4 | Aug 18, 2026 |
| LGC Holdco, LLC · 10 percent owner | 85.39M | 19.47% | Form 4 | Sep 12, 2025 |
| State Street Corp | 12.83M | 2.93% | 13F | Aug 7, 2026 |
| BlackRock, Inc. | 12.72M | 2.90% | 13F | Aug 7, 2026 |
| Ssga Funds Management, Inc. | 10.61M | 5.00% of class | 13G | Nov 10, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 11, 2026 | John Nallen | officer: President, COO | −242,309 | $57.74 |
| Mar 12, 2026 | John Nallen | officer: President, COO | −216,806 | $57.68 |
| Mar 13, 2026 | Lachlan K. Murdoch | director, officer: Executive Chair, CEO | −637,752 | $58.20 |
| Mar 11, 2026 | Lachlan K. Murdoch | director, officer: Executive Chair, CEO | −242,747 | $57.74 |
| Mar 12, 2026 | Lachlan K. Murdoch | director, officer: Executive Chair, CEO | −247,257 | $57.69 |
Peers
- Walt Disney
ESPN and ABC rival Fox Sports and Fox Broadcasting across NFL, college, and DTC.
- Comcast
NBC and Peacock contest NFL, NBA, and Olympics; MSNBC/MS NOW rivals Fox News.
- Paramount Skydance
CBS holds NFL AFC to Fox's NFC; Pluto TV rivals Tubi in free streaming.
- Warner Bros. Discovery
CNN rivals Fox News in cable news; TNT Sports retains conference sports rights.
- Roku
The Roku Channel rivals Tubi as the #2 FAST platform by Nielsen viewing share.
- Newsmax
Conservative cable news challenger targeting Fox News's core audience.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Fox Class B | $61.32 | 0.00% | $26.89B | 16.1 | 10.4 | 1.6 | +28.1% |
| Walt Disney | $108.09 | −0.01% | $187.72B | 22.3 | 14.6 | 1.9 | +7.1% |
| Comcast | $27.08 | +0.09% | $96.03B | 8.8 | 7.7 | 0.8 | −1.2% |
| Paramount Skydance | $10.88 | +0.09% | $11.83B | — | 13.7 | 0.4 | +0.9% |
| Warner Bros. Discovery | $28.79 | +0.05% | $72.13B | — | — | 2.0 | −11.2% |
| Roku | $157.68 | 0.00% | $23.39B | 67.4 | 48.8 | 4.5 | +21.9% |
| Newsmax | $10.73 | +0.06% | $963.1M | — | — | 4.7 | +16.5% |
| Median | 22.3 | 14.1 | 1.9 | +4.0% |