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Fox Altman Z-Score

: 2.37 (As of Today)
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Warning Sign:

Altman Z-score of 2.37 is in grey area. The implies that the company is in some kind of financial stress. If it is below 1.8, the company may faces bankrupcy risk.

Fox has a Altman Z-Score of 2.37, indicating it is in Grey Zones. This implies that Fox is in some kind of financial stress. If it is below 1.81, the company may face bankrupcy risk.

The zones of discrimination were as such:

When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.

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

FOX' s Altman Z-Score Range Over the Past 10 Years
Min: 1.68   Med: 2.45   Max: 2.9
Current: 2.37

During the past 6 years, Fox's highest Altman Z-Score was 2.90. The lowest was 1.68. And the median was 2.45.


Fox Altman Z-Score Historical Data

The historical data trend for Fox's Altman Z-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
Altman Z-Score
Premium Member Only - 1.68 2.74 2.03 2.55

Fox Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
Altman Z-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 2.48 2.55 2.60 2.45 2.61

Competitive Comparison

For the Entertainment subindustry, Fox's Altman Z-Score, along with its competitors' market caps and Altman Z-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 Altman Z-Score Distribution

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

* The bar in red indicates where Fox's Altman Z-Score falls into.



Fox Altman Z-Score Calculation

Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

Fox's Altman Z-Score for today is calculated with this formula:

Z=1.2*X1+1.4*X2+3.3*X3+0.6*X4+1.0*X5
=1.2*0.2632+1.4*0.1045+3.3*0.0904+0.6*1.6356+1.0*0.6282
=2.37

* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.

Trailing Twelve Months (TTM) ended in Mar. 2022:
Total Assets was $22,016 Mil.
Total Current Assets was $7,916 Mil.
Total Current Liabilities was $2,121 Mil.
Retained Earnings was $2,300 Mil.
Pre-Tax Income was 390 + -95 + 952 + 357 = $1,604 Mil.
Interest Expense was -91 + -97 + -97 + -102 = $-387 Mil.
Revenue was 3455 + 4441 + 3045 + 2890 = $13,831 Mil.
Market Cap (Today) was $17,661 Mil.
Total Liabilities was $10,798 Mil.

* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.

X1=Working Capital/Total Assets
=(Total Current Assets - Total Current Liabilities)/Total Assets
=(7916 - 2121)/22016
=0.2632

X2=Retained Earnings/Total Assets
=2300/22016
=0.1045

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(1604 - -387)/22016
=0.0904

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=17660.969/10798
=1.6356

X5=Revenue/Total Assets
=13831/22016
=0.6282

The zones of discrimination were as such:

Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones

Fox has a Altman Z-Score of 2.37 indicating it is in Grey Zones.

Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.


Fox  (NAS:FOX) Altman Z-Score Explanation

X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.

X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.

X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.

X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.

X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.

Read more about Altman Z-Score and the original research.


Be Aware

Altman Z-Score does not apply to financial companies.


Fox Altman Z-Score Related Terms

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


Fox Business Description

Fox logo
Industry
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
Hernandez Roland A director 300 NORTH SAN RAFAEL AVE PASADENA CA 91105
Murdoch Lachlan K director, officer: Executive Chairman, CEO C/O NEWS AMERICA INCORPORATED 1211 AVENUE OF THE AMERICAS NEW YORK NY 10036
Murdoch Keith Rupert director, officer: Chairman C/O FOX CORPORATION 1211 AVENUE OF THE AMERICAS NEW YORK NY 10036
Nallen John officer: Chief Operating Officer C/O NEWS AMERICA INCORPORATED 1211 AVENUE OF THE AMERICAS NEW YORK NY 10036
Nasser Jacques A director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: NASSER JACQUES A a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Carey Chase director C/O NEWS AMERICA INCORPORATED 1211 AVENUE OF THE AMERICAS NEW YORK NY 10036
Dinh Viet D officer: Chief Legal and Policy Officer GEORGETOWN UNIVERSITY LAW CENTER 600 NEW JERSEY AVENUE NW WASHINGTON DC 20001
Tomsic Steven officer: Chief Financial Officer 1211 AVENUE OF THE AMERICAS NEW YORK NY 10036
Ryan Paul D director 1211 AVENUE OF THE AMERICAS NEW YORK NY 10036
Dias Anne 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 Headlines

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