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Fox (NAS:FOX) Piotroski F-Score

: 6 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Fox has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Fox's Piotroski F-Score or its related term are showing as below:

FOX' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 7
Current: 6

During the past 7 years, the highest Piotroski F-Score of Fox was 7. The lowest was 4. And the median was 6.


Fox Piotroski F-Score Historical Data

The historical data trend for Fox's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Fox Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22
Piotroski F-Score
Premium Member Only Premium Member Only N/A 4.00 6.00 6.00 7.00

Fox Quarterly Data
Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 6.00 7.00 6.00

Competitive Comparison

For the Entertainment subindustry, Fox's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Fox Piotroski F-Score Distribution

For the Media - Diversified industry and Communication Services sector, Fox's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Fox's Piotroski F-Score falls in comparison to its industry or sector. The grey bar indicates the Piotroski F-Score's extreme value range as defined by GuruFocus.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Sep22) TTM:Last Year (Sep21) TTM:
Net Income was -85 + 283 + 306 + 605 = $1,109 Mil.
Cash Flow from Operations was -685 + 1607 + 933 + 270 = $2,125 Mil.
Revenue was 4441 + 3455 + 3033 + 3192 = $14,121 Mil.
Gross Profit was 4441 + 3455 + 3033 + 3192 = $14,121 Mil.
Average Total Assets from the begining of this year (Sep21)
to the end of this year (Sep22) was
(23161 + 22878 + 22016 + 22185 + 22424) / 5 = $22532.8 Mil.
Total Assets at the begining of this year (Sep21) was $23,161 Mil.
Long-Term Debt & Capital Lease Obligation was $7,594 Mil.
Total Current Assets was $8,495 Mil.
Total Current Liabilities was $2,362 Mil.
Net Income was 224 + 567 + 253 + 701 = $1,745 Mil.

Revenue was 4087 + 3215 + 2890 + 3045 = $13,237 Mil.
Gross Profit was 4087 + 3215 + 2890 + 3045 = $13,237 Mil.
Average Total Assets from the begining of last year (Sep20)
to the end of last year (Sep21) was
(22497 + 22754 + 22907 + 22926 + 23161) / 5 = $22849 Mil.
Total Assets at the begining of last year (Sep20) was $22,497 Mil.
Long-Term Debt & Capital Lease Obligation was $7,626 Mil.
Total Current Assets was $8,875 Mil.
Total Current Liabilities was $2,869 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Fox's current Net Income (TTM) was 1,109. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Fox's current Cash Flow from Operations (TTM) was 2,125. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep21)
=1109/23161
=0.04788222

ROA (Last Year)=Net Income/Total Assets (Sep20)
=1745/22497
=0.0775659

Fox's return on assets of this year was 0.04788222. Fox's return on assets of last year was 0.0775659. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Fox's current Net Income (TTM) was 1,109. Fox's current Cash Flow from Operations (TTM) was 2,125. ==> 2,125 > 1,109 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Sep22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep21 to Sep22
=7594/22532.8
=0.33701981

Gearing (Last Year: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=7626/22849
=0.3337564

Fox's gearing of this year was 0.33701981. Fox's gearing of last year was 0.3337564. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Sep22)=Total Current Assets/Total Current Liabilities
=8495/2362
=3.59652837

Current Ratio (Last Year: Sep21)=Total Current Assets/Total Current Liabilities
=8875/2869
=3.09341234

Fox's current ratio of this year was 3.59652837. Fox's current ratio of last year was 3.09341234. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Fox's number of shares in issue this year was 552. Fox's number of shares in issue last year was 578. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=14121/14121
=1

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=13237/13237
=1

Fox's gross margin of this year was 1. Fox's gross margin of last year was 1. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep21)
=14121/23161
=0.6096887

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep20)
=13237/22497
=0.58838956

Fox's asset turnover of this year was 0.6096887. Fox's asset turnover of last year was 0.58838956. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+0+1+1+0+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Fox has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Fox  (NAS:FOX) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Fox Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Fox's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Fox (NAS:FOX) Business Description

Fox logo
Traded in Other Exchanges
Address
1211 Avenue of the Americas, New York, NY, USA, 10036
Fox represents the assets not sold to Disney by the predecessor firm, Twenty First Century Fox. The remaining assets include Fox News, the FOX broadcast network, FS1 and FS2, Fox Business, Big Ten Network, 28 owned and operated local television stations of which 17 are affiliated with the Fox Network, and the Fox Studios lot. The Murdoch family continues to control the successor firm, which represents a large-scale bet on the value of live sports and news in the U.S. market.
Executives
Roland A Hernandez director 300 NORTH SAN RAFAEL AVE, PASADENA CA 91105
Lachlan K Murdoch director, officer: Executive Chairman, CEO C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Keith Rupert Murdoch director, officer: Chairman C/O FOX CORPORATION, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
John Nallen officer: Chief Operating Officer C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Jacques A Nasser director
Chase Carey director C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Viet D Dinh officer: Chief Legal and Policy Officer GEORGETOWN UNIVERSITY LAW CENTER, 600 NEW JERSEY AVENUE NW, WASHINGTON DC 20001
Steven Tomsic officer: Chief Financial Officer 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Paul D Ryan director 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Anne Dias director 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Cruden Financial Services Llc 10 percent owner C/O MCDONALD CARANO WILSON LLP, 100 LIBERTY STREET, RENO NV 89501
Murdoch Family Trust 10 percent owner C/O MCDONALD CARANO WILSON LLP, 100 LIBERTY STREET, RENO NV 89501
Twenty-first Century Fox, Inc. 10 percent owner 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036

Fox (NAS:FOX) Headlines

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