Fox (FOX) FY2026 results: revenue $17.1 billion, up 5.1% on the year
Fox Corp. (FOX) reported revenue of $17.1 billion for fiscal 2026, the year ended 30 June 2026, up 5.1% on the year before. Net income was $1.7 billion, down 25.5%, and diluted earnings per share $3.84. The figures are the company's own, from the 10-K it filed with the SEC on 6 August 2026.
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
- Revenue rose 28% on World Cup: Quarterly revenue was $4.21 billion, up $925 million or 28%. Advertising rose 78% on the World Cup broadcast, and distribution revenue rose 5%.
- Adjusted EBITDA up 27% to $1.20 billion: Adjusted EBITDA was $1.20 billion, up $256 million or 27%, as the revenue increase was partly offset by higher expenses.
- Television revenue rose 45%: Television segment revenue rose $775 million or 45%, with advertising up 108% on the World Cup, digital growth at Tubi and higher political advertising at the FOX Television Stations.
- Advertising up 78% on World Cup: Advertising revenue rose 78%, mainly from the current year World Cup broadcast, with continued digital growth led by the Tubi AVOD service also contributing.
- Costs rose on World Cup rights: Expenses rose mainly from higher sports programming rights amortization and production costs for the World Cup, plus costs of the FOX One launch.
From this 10-K
Fox Corporation is a news, sports and entertainment company. It makes and distributes content in the United States through cable networks, a national broadcast network, 29 local television stations, the advertising-supported streaming service Tubi and the subscription service FOX One. It manages four operating segments, Cable Network Programming, Television, Credible and the FOX Studio Lot, and reports two of them. The company was incorporated in Delaware in 2018 and became a standalone public company on 19 March 2019, when Twenty-First Century Fox spun it off and The Walt Disney Company acquired the remaining 21CF assets. Its financial year ends on 30 June.
The four quarters: Q1 FY2026 · Q2 FY2026 · Q3 FY2026 · Q4 FY2026
Income statement (profit and loss)
| $ million | FY2026 | FY2025 | FY2024 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Revenue | 17,126 | 16,300 | 13,980 | +5.1% | |
| Selling, general and administrative | 2,367 | 2,168 | 2,024 | +9.2% | |
| Interest expense | 401 | 403 | 405 | -0.5% | |
| Pre-tax income | 2,278 | 3,061 | 2,104 | -25.6% | |
| Income tax | 551 | 768 | 550 | -28.3% | |
| Effective tax rate | 24.2% | 25.1% | 26.1% | ||
| Net income | 1,685 | 2,263 | 1,501 | -25.5% | |
| Net margin | 9.8% | 13.9% | 10.7% | ||
| Diluted EPS | $3.84 | $4.91 | $3.13 | -21.8% |
Read more
Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.Cash flow
| $ million | FY2026 | FY2025 | FY2024 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Operating cash flow | 1,970 | 3,324 | 1,840 | -40.7% | |
| Capital expenditure | 502 | 331 | 345 | +51.7% | |
| Free cash flow | 1,468 | 2,993 | 1,495 | -51.0% | |
| Free cash flow margin | 8.6% | 18.4% | 10.7% | ||
| Cash from investing | -705 | -537 | -452 | ||
| Cash from financing | -2,411 | -1,755 | -1,341 | ||
| Depreciation and amortisation | 410 | 385 | 389 | +6.5% | |
| Share-based compensation | 132 | 135 | 90.0 | -2.2% | |
| Buybacks | 2,000 | 1,000 | 1,000 | +100.0% | |
| Dividends paid | 287 | 277 | 281 | +3.6% | |
| Diluted shares, weighted | 439m | 461m | 480m | -4.8% |
Balance sheet
| $ million | FY2026 | FY2025 | FY2024 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Shareholders' equity | 11,628 | 11,962 | 10,714 | -2.8% | |
| Non-controlling interest | 100 | 105 | 100 | -4.8% | |
| Redeemable equity | 86.0 | 288 | 242 | -70.1% | |
| Debt | 6,606 | 6,602 | 7,197 | +0.1% | |
| Operating lease liabilities | 917 | 822 | 879 | +11.6% | |
| Other liabilities | 3,145 | 3,416 | 2,840 | -7.9% | |
| Total liabilities and equity | 22,482 | 23,195 | 21,972 | -3.1% | |
| Fixed assets | 1,842 | 1,705 | 1,696 | +8.0% | |
| Goodwill | 3,647 | 3,639 | 3,544 | +0.2% | |
| Intangible assets | 2,870 | 2,969 | 3,038 | -3.3% | |
| Investments | 965 | 1,621 | 1,129 | -40.5% | |
| Cash and equivalents | 4,205 | 5,351 | 4,319 | -21.4% | |
| Receivables | 3,455 | 2,472 | 2,364 | +39.8% | |
| Inventory | 487 | 432 | 626 | +12.7% | |
| Other assets | 5,011 | 5,006 | 5,256 | +0.1% | |
| Total assets | 22,482 | 23,195 | 21,972 | -3.1% |
10-K for the year ended 30 June 2026, filed 6 August 2026: the filing.