Discounted Cash Flow

Fox Corp.

FOX · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $27.3b $2.8b $2.9b 10.1% $1.42
2017 $9.9b (-63.7%) $1.4b (-50.2%) $1.5b (-49.1%) 13.8% (37.2%) $1.62 (14.1%)
2018 $10.2b (2.3%) $2.2b (59.4%) $1.1b (-24.7%) 21.5% (55.8%) $2.42 (49.4%)
2019 $11.4b (12.2%) $1.6b (-27.1%) $2.3b (107.7%) 14.0% (-35.0%) $2.57 (6.2%)
2020 $12.3b (8.0%) $999.0m (-37.4%) $2.0b (-12.4%) 8.1% (-42.0%) $1.63 (-36.6%)
2021 $12.9b (4.9%) $2.1b (115.2%) $2.2b (7.4%) 16.7% (105.1%) $3.64 (123.3%)
2022 $14.0b (8.3%) $1.2b (-44.0%) $1.6b (-26.8%) 8.6% (-48.2%) $2.13 (-41.5%)
2023 $14.9b (6.7%) $1.2b (2.8%) $1.4b (-8.5%) 8.3% (-3.7%) $2.34 (9.9%)
2024 $14.0b (-6.3%) $1.5b (21.1%) $1.5b (3.6%) 10.7% (29.2%) $3.14 (34.2%)
2025 $16.3b (16.6%) $2.3b (50.8%) $3.0b (100.2%) 13.9% (29.3%) $4.97 (58.3%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model