Snapshot

Income statement snapshot

Fox Corp's top line, gross profit, pretax income, and bottom-line conversion. Values in USD millions.

Revenue

+5.2%

$17.1B

Compound growth, FY2022 to FY2026

Gross profit

FY2026

N/A

Latest annual filing, FY2026

Pretax Income

+7.7%

$2.3B

Compound growth, FY2022 to FY2026

Net income

+8.8%

$1.7B

Compound growth, FY2022 to FY2026

Headline results

Four lines, five fiscal years, straight from the filings.

Revenue$17,126

Gross profitN/A

Pretax Income$2,278

Net income$1,727

Filing10-K

Fox Corp headline income statement
Metric	2026	2025	2024	2023	2022
Revenue	$17,126	$16,300	$13,980	$14,913	$13,974
Gross profit	N/A	N/A	N/A	N/A	N/A
Pretax Income	$2,278	$3,061	$2,104	$1,736	$1,694
Net income	$1,727	$2,293	$1,554	$1,253	$1,233
Filing	10-K	10-K	10-K	10-K	10-K

Trend

The same four lines drawn across the window.

All values shown in USD millions unless noted otherwise.

Line items

Expanded line items

The full annual income statement layer for Fox Corp, from revenue down to share counts.

Statement basis

USD millions, except per-share and share-count rows.

Total revenue$17,126

Selling, general & administrative$2,367

Pretax Income$2,278

Interest expenseN/A

Other non-operating income (expense)-$773

Income tax expense (benefit)$551

Net income$1,727

Basic EPS$3.91

Diluted EPS$3.84

Diluted average shares439.0M

Filing10-K

Fox Corp expanded income statement
Line item	2026	2025	2024	2023	2022
Total revenue	$17,126	$16,300	$13,980	$14,913	$13,974
Selling, general & administrative	$2,367	$2,168	$2,024	$2,049	$1,920
Pretax Income	$2,278	$3,061	$2,104	$1,736	$1,694
Interest expense	N/A	N/A	N/A	$349	$377
Other non-operating income (expense)	-$773	$438	-$47	$368	-$356
Income tax expense (benefit)	$551	$768	$550	$483	$461
Net income	$1,727	$2,293	$1,554	$1,253	$1,233
Basic EPS	$3.91	$4.97	$3.14	$2.34	$2.13
Diluted EPS	$3.84	$4.91	$3.13	$2.33	$2.11
Diluted average shares	439.0M	461.0M	480.0M	531.0M	570.0M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from the SEC EDGAR database for Fox Corp.

Margins

Profitability conversion

How much of Fox Corp's revenue survives through gross profit, pretax income, and net income.

Gross margin

N/A

FY2026, versus FY2022

Pretax Margin

+118 bps

13.3%

FY2026, versus FY2022

Net income margin

+126 bps

10.1%

FY2026, versus FY2022

Observation window

years

FY2022 through FY2026

Margin table

Side-by-side read of gross, operating and net margin.

Gross marginN/A

Pretax Margin13.3%

Net income margin10.1%

Filing10-K

Margin trend

The shape of profitability across the window.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

Year on year

Annual momentum

Every headline line of Fox Corp's statement measured against the immediately prior period.

Revenue YoY

FY2025

+5.1%

FY2026 versus FY2025

Gross profit YoY

FY2025

N/A

FY2026 versus FY2025

Pretax Income YoY

FY2025

-25.6%

FY2026 versus FY2025

Net income YoY

FY2025

-24.7%

FY2026 versus FY2025

Year-on-year table

Contractions are tinted so slowdowns are obvious.

Revenue growth+5.1%

Gross profit growthN/A

Pretax Income Growth-25.6%

Net income growth-24.7%

Filing10-K

Fox Corp year-on-year change
Metric	2026	2025	2024	2023	2022
Revenue growth	+5.1%	+16.6%	-6.3%	+6.7%	N/A
Gross profit growth	N/A	N/A	N/A	N/A	N/A
Pretax Income Growth	-25.6%	+45.5%	+21.2%	+2.5%	N/A
Net income growth	-24.7%	+47.6%	+24.0%	+1.6%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum

Whether the business is accelerating or rolling over.

Year-on-year change compares each annual period against the immediately prior year inside the selected window.

Compound growth

Through-cycle growth

Compounded annual growth from FY2022 to FY2026, which filters out one-year noise.

Revenue CAGR

4yr

+5.2%

FY2022 to FY2026

Gross profit CAGR

4yr

N/A

FY2022 to FY2026

Pretax Income CAGR

4yr

+7.7%

FY2022 to FY2026

Net income CAGR

4yr

+8.8%

FY2022 to FY2026

Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.

Snapshot

Income statement snapshot

Fox Corp's top line, gross profit, pretax income, and bottom-line conversion. Values in USD millions.

Revenue

+5.2%

$17.1B

Compound growth, FY2022 to FY2026

Gross profit

FY2026

N/A

Latest annual filing, FY2026

Pretax Income

+7.7%

$2.3B

Compound growth, FY2022 to FY2026

Net income

+8.8%

$1.7B

Compound growth, FY2022 to FY2026

Headline results

Four lines, five fiscal years, straight from the filings.

Revenue$17,126

Gross profitN/A

Pretax Income$2,278

Net income$1,727

Filing10-K

Fox Corp headline income statement
Metric	2026	2025	2024	2023	2022
Revenue	$17,126	$16,300	$13,980	$14,913	$13,974
Gross profit	N/A	N/A	N/A	N/A	N/A
Pretax Income	$2,278	$3,061	$2,104	$1,736	$1,694
Net income	$1,727	$2,293	$1,554	$1,253	$1,233
Filing	10-K	10-K	10-K	10-K	10-K

Trend

The same four lines drawn across the window.

All values shown in USD millions unless noted otherwise.

Line items

Expanded line items

The full annual income statement layer for Fox Corp, from revenue down to share counts.

Statement basis

USD millions, except per-share and share-count rows.

Total revenue$17,126

Selling, general & administrative$2,367

Pretax Income$2,278

Interest expenseN/A

Other non-operating income (expense)-$773

Income tax expense (benefit)$551

Net income$1,727

Basic EPS$3.91

Diluted EPS$3.84

Diluted average shares439.0M

Filing10-K

Fox Corp expanded income statement
Line item	2026	2025	2024	2023	2022
Total revenue	$17,126	$16,300	$13,980	$14,913	$13,974
Selling, general & administrative	$2,367	$2,168	$2,024	$2,049	$1,920
Pretax Income	$2,278	$3,061	$2,104	$1,736	$1,694
Interest expense	N/A	N/A	N/A	$349	$377
Other non-operating income (expense)	-$773	$438	-$47	$368	-$356
Income tax expense (benefit)	$551	$768	$550	$483	$461
Net income	$1,727	$2,293	$1,554	$1,253	$1,233
Basic EPS	$3.91	$4.97	$3.14	$2.34	$2.13
Diluted EPS	$3.84	$4.91	$3.13	$2.33	$2.11
Diluted average shares	439.0M	461.0M	480.0M	531.0M	570.0M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from the SEC EDGAR database for Fox Corp.

Margins

Profitability conversion

How much of Fox Corp's revenue survives through gross profit, pretax income, and net income.

Gross margin

N/A

FY2026, versus FY2022

Pretax Margin

+118 bps

13.3%

FY2026, versus FY2022

Net income margin

+126 bps

10.1%

FY2026, versus FY2022

Observation window

years

FY2022 through FY2026

Margin table

Side-by-side read of gross, operating and net margin.

Gross marginN/A

Pretax Margin13.3%

Net income margin10.1%

Filing10-K

Margin trend

The shape of profitability across the window.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

Year on year

Annual momentum

Every headline line of Fox Corp's statement measured against the immediately prior period.

Revenue YoY

FY2025

+5.1%

FY2026 versus FY2025

Gross profit YoY

FY2025

N/A

FY2026 versus FY2025

Pretax Income YoY

FY2025

-25.6%

FY2026 versus FY2025

Net income YoY

FY2025

-24.7%

FY2026 versus FY2025

Year-on-year table

Contractions are tinted so slowdowns are obvious.

Revenue growth+5.1%

Gross profit growthN/A

Pretax Income Growth-25.6%

Net income growth-24.7%

Filing10-K

Fox Corp year-on-year change
Metric	2026	2025	2024	2023	2022
Revenue growth	+5.1%	+16.6%	-6.3%	+6.7%	N/A
Gross profit growth	N/A	N/A	N/A	N/A	N/A
Pretax Income Growth	-25.6%	+45.5%	+21.2%	+2.5%	N/A
Net income growth	-24.7%	+47.6%	+24.0%	+1.6%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum

Whether the business is accelerating or rolling over.

Year-on-year change compares each annual period against the immediately prior year inside the selected window.

Compound growth

Through-cycle growth

Compounded annual growth from FY2022 to FY2026, which filters out one-year noise.

Revenue CAGR

4yr

+5.2%

FY2022 to FY2026

Gross profit CAGR

4yr

N/A

FY2022 to FY2026

Pretax Income CAGR

4yr

+7.7%

FY2022 to FY2026

Net income CAGR

4yr

+8.8%

FY2022 to FY2026

Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.

Commentary

Commentary on Fox Corp performance

A written read of the filing-backed figures above. The statement itself remains the source of truth.

Snapshot Aug 6, 2026

This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.

Over the five-year period, FOX CORPORATION’s revenue has generally trended upward—from USD 13,974 million in 2022 to USD 17,126 million in 2026—though not without some fluctuations. Notably, revenue increased by about 6.8% from 2022 to 2023 before dipping roughly 6.3% in 2024, only to bounce back with stronger growth of approximately 16.7% in 2025 and a modest rise thereafter. While the gross profit data consistently shows zero, it suggests that either the metric isn’t tracked traditionally in these summaries or that cost structures have been reported differently. The operating income, acting as a proxy for pretax income, experienced modest growth early on—from USD 1,694 million in 2022 to USD 1,736 million in 2023—followed by a robust increase to USD 2,104 million in 2024 and an impressive surge to USD 3,061 million in 2025. However, a significant year-over-year drop of roughly 25% brought operating income down to USD 2,278 million in 2026, marking a notable reversal. Net income mirrored these trends; it moved slowly upward from USD 1,233 million in 2022 to USD 1,253 million in 2023, increased sharply by around 24% in 2024, and then jumped nearly 48% in 2025 before dipping by roughly 25% in 2026. The sizable swings—especially the pronounced declines in 2026’s operating and net income—could reflect shifts in operating expenses, market volatility, or strategic shifts in cost management. Overall, while FOX CORPORATION has demonstrated resilient revenue growth and strong improvements in pretax and net margins in certain years, the significant downturn in profitability during 2026 raises questions about the sustainability of its gains, suggesting the need for closer monitoring of operational and market conditions moving forward.

This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.

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Income statement snapshot

Expanded line items

Profitability conversion

Annual momentum

Through-cycle growth

Income statement snapshot

Expanded line items

Profitability conversion

Annual momentum

Through-cycle growth

Commentary on Fox Corp performance

Commentary on Fox Corp performance