Stock Analysis on Net
Stock Analysis on Net

Twenty-First Century Fox Inc. (NASDAQ:FOX)

This company has been moved to the archive! The financial data has not been updated since February 6, 2019.

Common-Size Balance Sheet: Assets 

Twenty-First Century Fox Inc., common-size consolidated balance sheet: assets

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Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
Cash and cash equivalents 14.16 12.15 9.15 16.84 9.88 13.07
Receivables, net 13.23 12.77 12.94 11.81 11.80 10.72
Inventories, net 6.82 6.11 6.80 5.49 5.64 5.46
Other 1.71 1.07 2.02 0.57 0.73 1.31
Current assets 35.91% 32.11% 30.91% 34.72% 28.06% 30.56%
Receivables, net 1.34 1.07 0.80 0.79 0.83 0.86
Equity method investments 6.49 6.78 7.07 8.17 4.66 6.26
Available-for-sale securities 0.48 0.00 0.00 0.04 0.23 0.53
Other investments 0.67 0.92 0.92 0.85 0.33 0.48
Investments 7.64% 7.69% 7.99% 9.05% 5.22% 7.27%
Inventories, net 13.97 14.69 14.56 12.81 11.76 10.54
Property, plant and equipment, net 3.63 3.51 3.50 3.44 5.35 5.55
Intangible assets, net 11.33 12.96 14.01 12.63 14.73 9.94
Goodwill 23.72 25.22 26.33 25.00 32.95 33.87
Other non-current assets 2.45 2.75 1.90 1.57 1.11 1.41
Non-current assets 64.09% 67.89% 69.09% 65.28% 71.94% 69.44%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30).

The analysis of the financial data over the six-year period reveals several notable trends in asset composition and relative allocations.

Liquidity Position
Cash and cash equivalents as a percentage of total assets fluctuated during the period, starting at 13.07% in 2013, declining to a low of 9.15% in 2016, and then rising again to 14.16% by 2018. This signifies a variable liquidity position, with a notable increase towards the end of the period suggesting a stronger cash reserve.
Receivables
Net receivables exhibited a gradual increase, moving from 10.72% in 2013 to 13.23% in 2018, indicative of growing credit sales or slower collection cycles. A secondary receivables measure also showed a similar upward trend from 0.86% to 1.34%, reinforcing this observation.
Inventories
Inventory levels, expressed as a percentage of total assets, generally increased from 5.46% in 2013 to fluctuating higher values around 6.82% in 2018 for one measure, and from 10.54% to a peak at 14.69% in 2017 for another. These increases may suggest accumulating stock or changes in inventory management practices.
Other Current Assets
The category labeled "Other" under current assets showed inconsistent values with a dip in some years and recovery in others, ending at 1.71% in 2018. Meanwhile, current assets overall declined initially but rebounded to reach the highest point of 35.91% of total assets in 2018, indicating a strengthening in short-term asset holdings.
Investments
Investment assets decreased from 7.27% in 2013 to 5.22% in 2014 but then increased reaching a stable level around 7.64% in 2018. Equity method investments particularly rose between 2014 and 2015 and then remained relatively constant. Available-for-sale securities had minimal presence and intermittent reporting.
Property, Plant, and Equipment (PP&E)
PP&E as a component of total assets showed a declining trend initially, from 5.55% in 2013 to about 3.44% in 2015, then remained fairly stable around 3.6% through 2018, suggesting limited new capital expenditure or asset disposals.
Intangible Assets and Goodwill
Intangible assets fluctuated, rising sharply in 2014 to 14.73%, decreasing gradually thereafter to 11.33% in 2018. Goodwill steadily declined as a proportion of total assets from 33.87% in 2013 to 23.72% in 2018, indicating possible impairment charges, divestitures, or amortization effects.
Other Non-Current Assets and Total Non-Current Assets
Other non-current assets rose from 1.41% in 2013 to a peak of 2.75% in 2017 before declining to 2.45% in 2018. Overall, non-current assets decreased from 69.44% in 2013 to 64.09% in 2018, reflecting a gradual shift towards current assets composition over the period.
Total Assets
As expected, total assets accounted for 100% consistently across all periods, serving as a baseline for relative measures.

In summary, the company’s asset structure demonstrates a trend towards increased liquidity and current assets, coupled with diminishing proportions of goodwill and intangible assets. These shifts may reflect strategic asset reallocation, changes in business operations, or financial management decisions to enhance flexibility and balance sheet health. The decline in property, plant, and equipment further supports a possible move away from heavy capital investment during the years observed.