News Corp Class B (NWS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$0.23	$0.35	+52.2%	—	$2.3B	—
Q3 26	$0.2	$0.21	+5.0%	—	$2.2B	—
Q2 26	$0.37	$0.4	+8.1%	—	$2.4B	—
Q1 26	$0.19	$0.22	+15.8%	—	$2.1B	—
Q3 25	$0.13	$0.17	+30.8%	—	$2B	—
Q2 25	$0.31	$0.33	+6.5%	—	$2.2B	—
Q1 25	$0.15	$0.21	+40.0%	—	$2.6B	—
Q4 24	$0.16	$0.17	+6.3%	—	$2.6B	—
Q3 24	$0.13	$0.11	-15.4%	—	$2.4B	—
Q2 24	$0.21	$0.26	+23.8%	—	$2.6B	—
Q1 24	$0.09	$0.16	+77.8%	—	$2.5B	—
Q4 23	$0.07	$0.14	+100.0%	—	$2.4B	—
Q3 23	—	$0.09	—	—	$2.4B	—
Q2 23	—	$0.14	—	—	$2.5B	—
Q1 23	—	$0.12	—	—	$2.5B	—
Q4 22	—	$0.37	—	—	$2.7B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	$1.03	—	—	$9B	—
FY25	—	$2.08	—	—	$8.5B	—
FY24	—	$0.47	—	—	$10.1B	—
FY23	—	$0.26	—	—	$9.9B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$8.1B	$9B	$10.1B	$9B	$9.4B	$10.4B	$9.9B	$10.1B	$8.5B	$9B
YoY change	-1.85%	+10.9%	+11.6%	-10.6%	+3.89%	+11%	-4.87%	+2.09%	-16.2%	+6.81%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	8.1B	9B	10.1B	9B	9.4B	10.4B	9.9B	10.1B	8.5B	9B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.7B	3B	3.2B	3B	3.3B	3.6B	3.3B	3.5B	3.3B	3.5B
Operating expenses	7.3B	8B	8.8B	8B	8.1B	8.7B	8.5B	8.5B	7B	7.4B
Operating income	433M	599M	585M	369M	593M	981M	706M	805M	956M	1.1B
Operating margin	5.32%	6.64%	5.81%	4.1%	6.34%	9.45%	7.15%	7.98%	11.3%	12.6%
Non-operating income, net	-1.1B	-1.7B	-172M	-1.9B	-90M	-70M	-276M	-174M	-36M	-125M
Pretax income	-615M	-1.1B	354M	-1.5B	450M	812M	330M	546M	923M	1B
Income tax	28M	355M	126M	21M	61M	52M	143M	192M	275M	303M
Net income	-643M	-1.4B	228M	-1.5B	389M	760M	187M	354M	1.3B	743M
Net margin	-7.9%	-16%	2.26%	-17.2%	4.16%	7.32%	1.89%	3.51%	15.9%	8.23%
EBITDA	1.7B	1.8B	1.2B	973M	1.2B	1.6B	1.3B	1.5B	1.4B	1.8B
EPS	-1.27	-2.6	0.27	-2.16	0.56	1.06	0.26	0.47	2.08	1.03
Diluted EPS	-1.27	-2.6	0.26	-2.16	0.56	1.05	0.26	0.46	2.07	1.03

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	2.5B	2.6B	2.4B	2.6B	2.6B	2.2B	2B	2.1B	2.1B	2.4B	2.2B	2.3B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	862M	832M	863M	936M	899M	797M	815M	870M	863M	833M	890M	923M
Operating expenses	2.1B	2.1B	2.1B	2.2B	2.2B	1.8B	1.7B	1.8B	1.8B	1.8B	1.8B	1.9B
Operating income	193M	294M	130M	188M	226M	365M	176M	202M	223M	403M	221M	295M
Operating margin	7.72%	11.4%	5.37%	7.3%	8.77%	16.3%	8.76%	9.58%	10.4%	17.1%	10.1%	12.6%
Non-operating income, net	-75M	8M	-47M	-60M	-4M	68M	-26M	-75M	-17M	-45M	-37M	-26M
Pretax income	95M	277M	64M	110M	204M	430M	151M	132M	212M	367M	189M	278M
Income tax	37M	94M	22M	39M	60M	124M	44M	46M	62M	125M	68M	48M
Net income	58M	183M	42M	71M	144M	283M	137M	776M	150M	242M	121M	230M
Net margin	2.32%	7.08%	1.73%	2.76%	5.59%	12.6%	6.82%	36.8%	7%	10.2%	5.54%	9.84%
EBITDA	344M	480M	449M	369M	425M	457M	315M	398M	360M	563M	382M	455M
EPS	0.05	0.27	0.05	0.09	0.21	0.38	0.18	1.31	0.2	0.34	0.16	0.33
Diluted EPS	0.05	0.27	0.05	0.09	0.21	0.38	0.18	1.31	0.2	0.34	0.16	0.33

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	—	—	—	—	—	—	—	16.2B	19.5B	15.6B	17.4B
Enterprise value	—	—	—	—	—	—	—	18.3B	20B	16.4B	18.7B
Shares outstanding	581M	583M	585M	588M	590M	590M	576.4M	571.2M	567.7M	556.5M	556.5M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	—	—	—	—	—	—	—	45.8	14.5	21	30.9
P/S	—	—	—	—	—	—	—	1.61	2.3	1.73	1.9
P/B	—	—	—	—	—	—	—	1.8	2.07	1.69	2.03
EV/EBITDA	—	—	—	—	—	—	—	12.1	13.9	9.34	14
EV/Sales	—	—	—	—	—	—	—	1.82	2.37	1.82	2.07
Earnings yield	—	—	—	—	—	—	—	2.18%	6.88%	4.76%	3.23%
FCF yield	—	—	—	—	—	—	—	3.71%	2.93%	5.19%	6.01%
PEG	—	—	—	—	—	—	—	—	—	—	-0.41

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Operating margin	5.32%	6.64%	5.81%	4.1%	6.34%	9.45%	7.15%	7.98%	11.3%	12.6%	12.5%
Net margin	-7.9%	-16%	2.26%	-17.2%	4.16%	7.32%	1.89%	3.51%	15.9%	8.23%	6.35%
ROE	-5.8%	-13.8%	2.21%	-18.4%	4.25%	8.31%	2.09%	3.93%	14.3%	8.04%	7.98%
ROA	-4.42%	-8.83%	1.45%	-10.8%	2.32%	4.41%	1.11%	2.12%	8.64%	4.78%	4.66%
ROIC	4.58%	5.75%	3.72%	3.92%	4.89%	8%	3.53%	4.7%	6.76%	8.07%	8.07%
Return on tangible assets	-27.8%	-254.2%	40.4%	-58.7%	12.5%	49.3%	11.2%	21.2%	46.2%	26.7%	26.7%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	1.56	1.33	1.21	1.29	1.38	1.16	1.28	1.43	1.84	1.62	1.62
Quick ratio	1.47	1.22	1.11	1.16	1.3	1.07	1.18	1.33	1.72	1.51	1.51
Debt / equity	0.03	0.19	0.14	0.3	0.39	0.45	0.47	0.45	0.31	0.32	0.32
Debt / assets	0.03	0.12	0.09	0.18	0.21	0.24	0.25	0.24	0.19	0.19	0.19
Net debt / EBITDA	-0.95	-0.05	-0.15	1.05	1.07	1.43	1.83	1.39	0.37	0.47	0.47
Interest coverage	11.1	85.6	7	-60	9.49	9.2	4.3	7.42	—	—	—
Effective tax rate	0%	0%	35.6%	0%	13.6%	6.4%	43.3%	35.2%	29.8%	29%	29%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	14	15.5	17.2	15.3	15.9	17.6	17.1	17.7	14.9	16.2	16.2
EPS (basic)	-1.27	-2.6	0.27	-2.16	0.56	1.06	0.26	0.47	2.08	1.03	1.03
EPS (diluted)	-1.27	-2.6	0.26	-2.16	0.56	1.05	0.26	0.46	2.07	1.03	1.03
Book value per share	19.1	18	17.6	14.3	15.5	15.5	15.5	15.8	16.5	16.6	15.7
FCF per share	0.41	0.67	0.61	0.58	1.44	1.45	1.03	1.05	1.01	1.46	1.48
Cash per share	3.47	3.49	2.81	2.58	3.79	3.09	3.18	3.43	4.23	3.76	3.88
Capex per share	0.47	0.24	0.18	0.06	0.04	0.01	0.06	0	0.72	0.77	0.78

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	3.33%	1.53%	1.02%	0.4%	0.26%	0.06%	0.37%	0%	4.82%	4.72%	4.72%
Capex / operating cash flow	-46.3%	-25.8%	13.2%	-3.73%	2.07%	0.45%	3.94%	0%	41.6%	34.4%	34.4%
Payout ratio	-23.6%	-10.9%	70.6%	-10.2%	41.9%	23%	93%	48.6%	13.8%	27.5%	19.4%
Dividend yield	—	—	—	—	—	—	—	1.06%	0.95%	1.31%	0.62%

Yield

0.62%

trailing twelve months

Frequency

Semi-annual

Last dividend

$0.10

ex-dividend Sep 9, 2026

Payout ratio

19%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 9, 2026	$0.10
Mar 11, 2026	$0.10
Sep 10, 2025	$0.10
Mar 12, 2025	$0.10
Sep 11, 2024	$0.10
Mar 12, 2024	$0.10
Sep 12, 2023	$0.10
Mar 14, 2023	$0.10

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	$2.5B	$2.6B	$2.4B	$2.6B	$2.6B	$2.2B	$2B	$2.1B	$2.1B	$2.4B	$2.2B	$2.3B
YoY change	+0.85%	+2.58%	-0.98%	+5.92%	+3.12%	-13.5%	-17.1%	-18.2%	-16.8%	+5.54%	+8.76%	+10.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	2B	2B	1.6B	1.5B	2.2B	1.8B	1.8B	2B	2.4B	2.1B
Receivables	1.3B	1.6B	1.5B	1.2B	1.5B	1.5B	1.4B	1.5B	1.6B	1.8B
Inventory	208M	376M	348M	348M	253M	311M	311M	296M	327M	302M
Total current assets	3.8B	4.4B	4B	3.5B	4.5B	4.1B	4.1B	4.4B	4.8B	4.5B
Property, plant & equipment	-109M	818M	825M	1.8B	1.6B	1.5B	1.6B	1.3B	609M	646M
Goodwill & intangibles	12.2B	15.8B	15.1B	11.6B	13.7B	15.7B	15.3B	15B	12.6B	12.8B
Total assets	14.6B	16.3B	15.7B	14.3B	16.8B	17.2B	16.9B	16.7B	15.5B	15.5B
Accounts payable	222M	605M	411M	351M	321M	411M	440M	314M	335M	412M
Short-term debt	103M	462M	449M	207M	171M	432M	139M	171M	99M	86M
Total current liabilities	2.5B	3.3B	3.3B	2.7B	3.2B	3.5B	3.2B	3.1B	2.6B	2.8B
Long-term debt	276M	1.5B	1B	2.3B	3.4B	3.7B	4.1B	3.9B	2.8B	2.8B
Total liabilities	3.5B	5.8B	5.4B	5.9B	7.6B	8.1B	8B	7.7B	6.1B	6.3B
Shareholders' equity	11.1B	10.5B	10.3B	8.4B	9.1B	9.1B	8.9B	9B	9.4B	9.2B
Total debt	379M	2B	1.5B	2.5B	3.6B	4.2B	4.2B	4.1B	2.9B	2.9B
Net debt	-1.6B	-82M	-190M	1B	1.3B	2.3B	2.4B	2.1B	537M	820M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Cash & short-term investments	—	—	—	—	—	—	—	—	2.2B	2.1B	2.2B	2.1B
Receivables	—	—	—	—	—	—	—	—	1.6B	1.9B	1.8B	1.8B
Inventory	—	—	—	—	—	—	—	—	327M	306M	303M	302M
Total current assets	—	—	—	—	—	—	—	—	4.5B	4.6B	4.6B	4.5B
Property, plant & equipment	—	—	—	—	—	—	—	—	2.1B	2.1B	2.1B	646M
Goodwill & intangibles	—	—	—	—	—	—	—	—	12.6B	12.8B	12.7B	12.8B
Total assets	—	—	—	—	—	—	—	—	15.3B	15.5B	15.5B	15.5B
Accounts payable	—	—	—	—	—	—	—	—	368M	425M	384M	412M
Short-term debt	—	—	—	—	—	—	—	—	96M	100M	87M	86M
Total current liabilities	—	—	—	—	—	—	—	—	2.5B	2.5B	2.7B	2.8B
Long-term debt	4B	4.1B	3.9B	3B	3.7B	2.8B	2.8B	2.8B	2.8B	2.8B	2.8B	2.8B
Total liabilities	—	—	—	—	—	—	—	—	6B	6B	6.2B	6.3B
Shareholders' equity	—	—	—	—	—	—	—	—	9.3B	9.5B	9.3B	9.2B
Total debt	4B	4.1B	3.9B	3B	3.7B	2.8B	2.8B	2.8B	2.9B	2.9B	2.9B	2.9B
Net debt	—	—	—	—	—	—	—	—	729M	872M	758M	820M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	-643M	-1.4B	228M	-1.5B	389M	760M	187M	354M	648M	743M
Depreciation & amortization	449M	472M	659M	644M	680M	688M	714M	734M	459M	485M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	97M	-88M	-71M	-163M	203M	-93M	-82M	-187M	-206M	-145M
Operating cash flow	-585M	-534M	783M	-964M	1.2B	1.3B	940M	1B	978M	1.2B
Capital expenditure	271M	138M	103M	36M	24M	6M	37M	0	-407M	-426M
Investing cash flow	-164M	43M	-105M	11M	-902M	-1.6B	-135M	-28M	-406M	-539M
Dividends paid	-152M	-158M	-161M	-158M	-163M	-175M	-174M	-172M	-185M	-204M
Share repurchases	0	0	—	0	0	-179M	-243M	-117M	-150M	-641M
Financing cash flow	-217M	-398M	-610M	-472M	699M	404M	-501M	-441M	-524M	-1B
Net change in cash	-966M	-889M	68M	-1.4B	954M	112M	304M	579M	48M	-316M
Free cash flow	238M	393M	356M	342M	847M	855M	593M	602M	571M	811M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Net income	58M	183M	35M	71M	144M	306M	107M	86M	150M	242M	121M	230M
Depreciation & amortization	171M	179M	331M	192M	189M	113M	114M	120M	117M	118M	122M	128M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-380M	-64M	190M	-26M	-288M	-170M	254M	-42M	-221M	-212M	205M	83M
Operating cash flow	-95M	367M	584M	240M	71M	244M	509M	32M	80M	236M	493M	428M
Capital expenditure	0	0	0	0	—	—	—	-157M	-81M	-99M	-100M	-146M
Investing cash flow	-35M	-7M	-9M	-2M	-41M	155M	-45M	-212M	-101M	-144M	-128M	-159M
Dividends paid	-28M	-57M	-30M	-57M	-35M	-57M	-36M	-57M	-47M	-57M	-45M	-55M
Share repurchases	-29M	-27M	-27M	-34M	-38M	-40M	-36M	-36M	-92M	-172M	-192M	-185M
Financing cash flow	-65M	-71M	-142M	-124M	-147M	-233M	-83M	-99M	-179M	-240M	-257M	-338M
Net change in cash	-195M	289M	433M	114M	-117M	166M	381M	-279M	-200M	-148M	108M	-69M
Free cash flow	-179M	248M	394M	111M	-31M	131M	575M	-125M	-1M	137M	393M	282M

News Corp Class B Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement