FOX · Fox Corp
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Q4 FY26 earnings call · Aug 6, 2026TL;DR. Fox delivered record full-year revenue of $17.13B and EBITDA of $3.91B, with Q4 revenue up 28% and EBITDA up 27% driven by FIFA World Cup advertising, while announcing the pending Roku acquisition, a raised semi-annual dividend to $0.29, and a strong upfront with double-digit volume growth.
- + Full-year revenue grew 5% to a record $17.13B and EBITDA rose 8% to a record $3.91B despite tough prior-year comparisons.
- + Tubi posted its highest-revenue quarter ever with 35% Q4 revenue growth and 17% total viewing time growth, finishing the year with 110 million MAUs.
- + Fox raised its semi-annual dividend to $0.29 per share and repurchased an additional $2B in fiscal 2026, with buybacks to continue through the Roku closing.
- + Fox One exceeded expectations with minimal pay-TV cannibalization, strong subscriber retention, and digital investment losses narrowing to under $200M in FY26 from ~$300M in FY25.
- − GAAP net income attributable to Fox stockholders fell to $1.69B ($3.84/share) in FY26 from $2.26B ($4.91/share) in FY25.
- − Cable Network Programming Q4 segment EBITDA declined 3% to $728M as 20% expense growth from World Cup rights and production costs more than offset 9% revenue growth.
- − FY26 free cash flow generation was impacted by World Cup working-capital timing, with rights paid in FY26 and advertising receivables to be collected in early FY27.
- − The pending Roku acquisition adds significant leverage, with closing expected at ~2.8x net leverage and required to extend through the early-approval regulatory phase.
- − Cable distribution continued to face net subscriber declines of under 6.5% across third-party distributors, partially offsetting pricing gains.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders illustrative — not investment adviceIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | 3.91B | Twelve Months Ended June 30, 2026 | — |
| Adjusted EPS non-GAAP | $5.42 | Twelve Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP EPS attributable to Fox Corporation stockholders $3.84
+$0.34 Restructuring, impairment and other corporate matters
+$1.76 Non-operating other, net
-$0.52 Tax provision
+$0 Noncontrolling interest adjustment
= Adjusted EPS $5.42
|
|||
| Adjusted Net Income non-GAAP | 2.38B | Twelve Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net income attributable to Fox Corporation stockholders 1.69B
+151M Restructuring, impairment and other corporate matters
+773M Non-operating other, net
-229M Tax provision
+1M Noncontrolling interest adjustment
= Adjusted Net Income 2.38B
|
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| FOX Local Streams FAST services offering content from FOX-owned local television stations | 17 | fiscal 2026 filing | — |
| full power broadcast television stations owned and operated | 29 | fiscal 2026 filing | — |
| percentage of U.S. Television Households reached by owned stations (Total) | 38.7% | fiscal 2026 filing | — |
| Television reported full year segment EBITDA | 1.44B | full year | — |
| Tubi share of television viewing | 2.2% | fiscal 2026 filing | — |
| Tubi total view time | 13B | fiscal 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Entertainment — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
FOX
this stock
Fox Corp
|
$26.47B | -12.7% | +6.7% | — | — |
|
NFLX
Netflix Inc
|
$296.24B | -28.0% | +15.9% | 22.4 | 2.3% |
|
DIS
Walt Disney Co
|
$176.19B | -8.9% | +3.4% | 21.1 | 1.1% |
|
WBD
Warner Bros. Discovery, Inc.
|
$77.48B | +7.4% | +53.5% | — | 2.4% |
|
LYV
Live Nation Entertainment, Inc.
|
$40.26B | +19.8% | +8.8% | — | 9.8% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| FOX | +0.3% | -2.9% | -0.2% | +0.7% | -12.7% |
| SPY | +1.2% | +0.6% | +11.6% | +1.6% | +13.6% |
| vs SPY | -0.9% | -3.5% | -11.8% | -0.9% | -26.3% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.