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Fox (NAS:FOX) Asset Turnover

: 0.19 (As of Dec. 2023)
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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Fox's Revenue for the three months ended in Dec. 2023 was $4,234 Mil. Fox's Total Assets for the quarter that ended in Dec. 2023 was $22,248 Mil. Therefore, Fox's Asset Turnover for the quarter that ended in Dec. 2023 was 0.19.

Asset Turnover is linked to ROE % through Du Pont Formula. Fox's annualized ROE % for the quarter that ended in Dec. 2023 was 4.23%. It is also linked to ROA % through Du Pont Formula. Fox's annualized ROA % for the quarter that ended in Dec. 2023 was 1.96%.


Fox Asset Turnover Historical Data

The historical data trend for Fox's Asset Turnover 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 Jun23
Asset Turnover
Premium Member Only Premium Member Only Premium Member Only 0.70 0.60 0.58 0.62 0.68

Fox Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Asset Turnover 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 0.20 0.18 0.14 0.15 0.19

Competitive Comparison

For the Entertainment subindustry, Fox's Asset Turnover, along with its competitors' market caps and Asset Turnover 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 Asset Turnover Distribution

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

* The bar in red indicates where Fox's Asset Turnover falls into.



Fox Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Fox's Asset Turnover for the fiscal year that ended in Jun. 2023 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Jun. 2023 )/( (Total Assets (A: Jun. 2022 )+Total Assets (A: Jun. 2023 ))/ count )
=14913/( (22185+21866)/ 2 )
=14913/22025.5
=0.68

Fox's Asset Turnover for the quarter that ended in Dec. 2023 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Dec. 2023 )/( (Total Assets (Q: Sep. 2023 )+Total Assets (Q: Dec. 2023 ))/ count )
=4234/( (21649+22846)/ 2 )
=4234/22247.5
=0.19

* 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.

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.


Fox  (NAS:FOX) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Fox's annulized ROE % for the quarter that ended in Dec. 2023 is

ROE %**(Q: Dec. 2023 )
=Net Income/Total Stockholders Equity
=436/10318
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(436 / 16936)*(16936 / 22247.5)*(22247.5/ 10318)
=Net Margin %*Asset Turnover*Equity Multiplier
=2.57 %*0.7613*2.1562
=ROA %*Equity Multiplier
=1.96 %*2.1562
=4.23 %

Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) revenue data.

* 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.

** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.

It is also linked to ROA % through Du Pont Formula:

Fox's annulized ROA % for the quarter that ended in Dec. 2023 is

ROA %(Q: Dec. 2023 )
=Net Income/Total Assets
=436/22247.5
=(Net Income / Revenue)*(Revenue / Total Assets)
=(436 / 16936)*(16936 / 22247.5)
=Net Margin %*Asset Turnover
=2.57 %*0.7613
=1.96 %

Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) revenue data.

* 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.


Be Aware

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.


Fox Asset Turnover Related Terms

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


Fox (NAS:FOX) Business Description

Traded in Other Exchanges
Address
1211 Avenue of the Americas, New York, NY, USA, 10036
Fox represents the assets not sold to Disney by predecessor firm, Twenty First Century Fox, in 2019. 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, Tubi, and the Fox Studios lot. Since the Disney sale, Fox has acquired other related and unrelated assets including Credible Labs, a consumer fintech firm. 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
Keith Rupert Murdoch director, officer: Chairman C/O FOX CORPORATION, 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
Lachlan K Murdoch director, officer: Executive Chairman, CEO C/O NEWS AMERICA INCORPORATED, 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
Roland A Hernandez director 300 NORTH SAN RAFAEL AVE, PASADENA CA 91105
Jacques A Nasser director
Chase Carey director C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
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