Stock Analysis on Net
Stock Analysis on Net

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

$22.49

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

Common-Size Income Statement

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Twenty-First Century Fox Inc., common-size consolidated income statement

Microsoft Excel
12 months ended: Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
Revenues
Operating expenses
Gross profit
Selling, general and administrative
Depreciation and amortization
Impairment and restructuring charges
Operating income
Equity earnings (losses) of affiliates
Interest expense, net
Interest income
Other, net
Income from continuing operations before income tax (expense) benefit
Income tax (expense) benefit
Income from continuing operations
Income (loss) from discontinued operations, net of tax
Net income
Net income attributable to noncontrolling interests
Net income attributable to Twenty-First Century Fox, Inc. stockholders

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).

Revenues and Operating Expenses
Revenues remained constant at 100% throughout the periods, providing a baseline for analyzing cost and profitability trends. Operating expenses fluctuated moderately, increasing from 63.22% in 2013 to 66.24% in 2014, then generally decreasing until 2017, followed by a rise to 65.03% in 2018. This indicates some volatility in managing operating costs relative to revenue.
Gross Profit
Gross profit as a percentage of revenues declined from 36.78% in 2013 to a low of 33.76% in 2014, subsequently improving to peak at 37.63% in 2017 before falling again to 34.97% in 2018. This pattern suggests oscillation in cost efficiency or pricing power within the gross margin.
Selling, General and Administrative Expenses (SG&A)
SG&A expenses as a percentage of revenues displayed a generally decreasing trend over the period, dropping from 14.48% in 2013 to 12.07% in 2018. This implies improved control or reduction in overhead and selling expenses relative to revenue.
Depreciation and Amortization
Depreciation and amortization expenses declined steadily from 2.88% in 2013 to 1.92% in 2018, indicating reduced capital asset depreciation or amortization impact relative to revenues.
Impairment and Restructuring Charges
These charges were absent until 2016, after which they emerged at 1.18%, then declined to 0.24% in 2018. The decline reflects decreasing extraordinary costs or restructuring activities in recent years.
Operating Income
Operating income fluctuated, initially falling from 19.42% in 2013 to a low of 17.22% in 2014, then increasing to 21.89% in 2017, followed by a slight decline to 20.75% in 2018. Despite variability, operating profitability remained relatively strong across the periods.
Equity Earnings (Losses) of Affiliates
These earnings showed variability, increasing to 3.12% in 2015 but turning negative from 2016 onward, reaching -0.45% in 2018. This indicates diminished or negative contributions from affiliates in recent years.
Interest Expense and Income
Net interest expense remained within a narrow range, varying between -3.52% and -4.33%, suggesting a stable cost of debt relative to revenue. Interest income was consistently low and stable around 0.13%.
Other, Net
The "Other, net" category experienced significant volatility, peaking at 14.48% in 2015, but turning negative thereafter, with values around -1.81% in 2018. This large fluctuation suggests irregular or nonrecurring items significantly affected financial results in certain years.
Income from Continuing Operations Before Income Tax
This metric showed inconsistency, with a high of 33.97% in 2015 and lows near 14.51% in 2018. The inconsistency is linked primarily to fluctuations in "Other, net" and equity earnings, affecting overall pre-tax profitability.
Income Tax Expense (Benefit)
Income tax burden as a percentage of revenues was mostly negative, consistent with expense, but showed a notable benefit of 1.20% in 2018, indicating potential tax credits or adjustments that improved after-tax income that year.
Income from Continuing Operations
Income from continuing operations followed a pattern reflecting pre-tax income and tax impacts, peaking at 29.68% in 2015, dropping to around 11% in 2016 and 2017, and recovering somewhat to 15.70% in 2018.
Income from Discontinued Operations
Discontinued operations contributed positively in 2013 and 2014 but turned slightly negative thereafter, with minimal impact on overall net income.
Net Income and Attributable to Stockholders
Net income displayed a similar trajectory to continuing operations income, peaking during 2015 at 29.45%, declining significantly in 2016 and 2017, and recovering to 15.66% in 2018. Net income attributable to stockholders mirrored this trend closely, indicating consistent minority interest impacts, which were small and relatively stable.