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
Quarterly Data

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Twenty-First Century Fox Inc., common-size consolidated income statement (quarterly data)

Microsoft Excel
3 months ended: Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Sep 30, 2012
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-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-K (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-K (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-K (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-K (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-Q (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30).

Operating Expenses Trend
Operating expenses as a percentage of revenues displayed fluctuations throughout the periods. Starting near -58.55%, they rose to peaks beyond -68% in December 2012 and December 2018, indicating periods of increased cost. Notable spikes occurred toward the end of 2017 and 2018, suggesting episodic cost pressures.
Gross Profit Margin
Gross profit experienced variability between approximate lows around 28% and highs about 40% of revenues. Periods such as late 2014 and early 2015 showed elevated margins exceeding 38%, whereas declines were observed in late 2017 and again toward the end of 2018. Overall, margins were fairly resilient despite expense fluctuations.
Selling, General and Administrative Expenses
These expenses remained relatively stable, mostly between -10% to -16% of revenues, with occasional increases in certain quarters, particularly in mid-2017 and late 2018. Such movements may reflect variable spending on marketing, administration, or restructuring activities.
Depreciation and Amortization
Depreciation and amortization costs generally ranged from -1.7% to -4.4% of revenues. A peak near -4.4% in late 2012 was followed by a decline and relative stabilization below -2.5% in most recent quarters, indicating possible changes in asset base or amortization schedules.
Impairment and Restructuring Charges
These charges were sporadic and mostly minimal except for a pronounced surge around late 2016 and early 2017, reaching nearly -4.6% of revenues. This suggests specific restructuring events or write-downs during that timeframe.
Operating Income
Operating income as a percentage of revenues varied between approximately 15% and 23%, showing moderate cyclicality. Periods of reduced operating income correlated with increased operating expenses and restructuring charges, notably in late 2017 and 2018. Nonetheless, profitability remained generally healthy across the intervals.
Equity Earnings (Losses) of Affiliates
Equity earnings showed irregular patterns with positive contributions alternating with occasional losses. Peaks above 4% occurred in late 2014 and early 2015, while several quarters in 2016 to 2018 registered negative values, reflecting variable performance of affiliated entities.
Interest Expense and Income
Net interest expense fluctuated mostly between -3.3% and -4.8% of revenues, indicating relatively steady financing costs. Interest income remained low, generally below 0.3%, aside from a marked increase to over 1% in late 2018, suggesting atypical or one-time income.
Other, Net
The 'Other, net' line item exhibited extreme volatility, ranging from minor negative values to massive spikes, including over 123% in late 2018 and an unusual high of 62.57% in late 2014. Such wide fluctuations suggest inclusion of non-recurring gains or losses and possibly accounting adjustments impacting income before taxes.
Income Before Income Taxes
This metric experienced significant swings, with notable peaks exceeding 80% of revenues in late 2014 and peaking at 135.95% in late 2018, mostly due to abnormal 'Other, net' items. The remainder of the periods ranged broadly, often reflecting the combined effect of operating income and volatile other components.
Income Tax Expense
Income tax as a percentage of revenues was generally in the range of -5% to -7%, with a few exceptions such as a positive 15.15% in late 2017 indicating a tax benefit or credit. Variability in tax expense contributed to fluctuations in net income.
Income from Continuing Operations
Income from continuing operations mostly tracked operating income trends but showed amplified variability due to tax and other items. Noteworthy peaks occurred at over 78% in late 2014 and 128% in late 2018, largely corresponding to extraordinary gains.
Income from Discontinued Operations
This component fluctuated close to zero with occasional small positive or negative impacts, suggesting limited but inconsistent effects on overall net income.
Net Income
Net income generally ranged between approximately 7% and 39% of revenues, excluding abnormal spikes. Substantial surges appeared in late 2014 and late 2018, coinciding with extraordinary items under 'Other, net' and significant tax effects. The cyclical decrease in net income in mid-2013 and mid-2017 corresponds with heightened expenses and restructuring charges.
Net Income Attributable to Noncontrolling Interests
Losses attributable to noncontrolling interests remained relatively stable and minor, mostly below -1% of revenues, contributing a small but consistent deduction from total net income available to stockholders.
Net Income Attributable to Stockholders
Net income attributable to stockholders followed the overall net income trend, with peaks coinciding with extraordinary gains. The data reveal a generally stable profitability after accounting for noncontrolling interests, with episodic declines associated with increased operating expenses and restructuring costs.