Forensic Analysis · Television Broadcasting · as of Nov 8, 2026
Fox Corp (FOX)
A forensic read on Fox Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
4.2
Distress distance
2
Forensic signals
14.3%
ROE
5.1%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Fox Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 4.2, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by shareholder returns.
What the filings flag
156% of FCF
FY2026
Shareholder returns.Returned $2.3B to shareholders (buybacks + dividends) in FY2026 — 156% of free cash flow. That is $819M (56%) more than free cash flow covered, and more than operating cash flow as well. The balance sheet's own liquid holdings covered it: cash fell $1.1B over FY2026; total debt is not on file on the same basis at both year ends, so whether new borrowing also covered part of it cannot be read. A payout past free cash flow draws the balance sheet down in every year it continues, which isn't sustainable indefinitely. Counting the $132M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 165%.
13.3%
FY2026
Return on invested capital.Return on invested capital is 13.3% in the latest fiscal year, against 12.1% in FY2024, having run between 12.1% and 17.2% across FY2024–FY2026 with no direction held. After-tax operating profit was $1.9B in FY2024 and $2.0B in FY2026. The capital base behind it cannot be compared across FY2024–FY2026: short-term debt is tagged in one of those two fiscal years and not the other, and an untagged line enters this calculation as zero, so any change in the base would be a change in what the filer tagged.
Key fundamentals
Latest Revenue$17.13B
Revenue Growth YoY+5.1%
Revenue CAGR (2yr)+10.7%
Net Margin9.9%
Free Cash Flow$1.47B
Return on Equity14.3%
Debt / Equity0.57x
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