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.

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Twenty-First Century Fox Inc., consolidated income statement

US$ in millions

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).

The analysis of the financial data over the six-year period reveals several notable trends and patterns concerning revenues, expenses, and profitability.

Revenues and Operating Expenses
Revenues experienced fluctuations with an initial increase from 27,675 million USD in 2013 to a peak of 31,867 million USD in 2014, followed by a decline to 27,326 million USD in 2016, and a subsequent recovery to 30,400 million USD in 2018. Operating expenses mirrored a similar pattern, rising sharply in 2014 to 21,108 million USD, then decreasing to 17,129 million USD in 2016, and rising again to 19,769 million USD in 2018. The volatility suggests variability in cost management or changes in business operations during this period.
Profitability Measures
Gross profit remained relatively stable, fluctuating slightly around 10,000 to 10,700 million USD, indicating a consistent gross margin despite changes in revenue levels. Operating income showed moderate growth overall, increasing from 5,375 million USD in 2013 to 6,307 million USD in 2018, notwithstanding some interim declines. This implies an improvement in operational efficiency or better cost control in later years.
Selling, General and Administrative Expenses and Depreciation
Selling, general, and administrative expenses showed a downward trend, decreasing from 4,007 million USD in 2013 to 3,668 million USD in 2018, which may indicate cost-cutting or improved expense management. Depreciation and amortization costs fluctuated but generally decreased from 797 million USD in 2013 to 584 million USD in 2018, potentially reflecting changes in asset base or capital expenditure patterns.
Impairment and Restructuring Charges
Impairment and restructuring charges appeared only from 2016 onwards, with amounts gradually decreasing from 323 million USD in 2016 to 72 million USD in 2018, signifying a likely phase of restructuring or asset write-downs that diminished over time.
Equity Earnings (Losses) of Affiliates
Equity earnings showed volatility, with positive contributions in early years peaking at 904 million USD in 2015 before turning negative from 2016 onward, reaching a loss of 138 million USD in 2018. This decline indicates weakening performance or valuation adjustments related to affiliated entities.
Interest and Other Income/Expense
Net interest expense steadily increased from 1,063 million USD in 2013 to 1,248 million USD in 2018, reflecting higher debt costs or increased borrowings. Interest income remained relatively stable but negligible in comparison. The 'Other, net' category exhibited significant volatility with very large positive and negative swings, suggesting non-recurring items or significant financial adjustments affecting income substantially in various years.
Income Before Taxes and Net Income
Income from continuing operations before taxes demonstrated notable volatility: a sharp rise to 9,847 million USD in 2015 was followed by a steep decline in 2016 to 4,154 million USD, with some recovery afterward. Income tax expense fluctuated similarly, including a positive tax benefit of 364 million USD in 2018, which could be related to tax strategy changes or adjustments. Consequently, income from continuing operations and net income reflected these swings, with peak earnings in 2015, substantial declines in 2016 and 2017, and partial recovery in 2018.
Net Income Attributable to Shareholders
Net income attributable to the company's stockholders followed the net income trend closely, peaking at 8,306 million USD in 2015, falling drastically to 2,755 million USD in 2016, and climbing back to 4,464 million USD in 2018. Noncontrolling interests' share of net income remained relatively small but increased slightly over time.