Profitability ratios measure the company ability to generate profitable sales from its resources (assets).

Profitability Ratios (Summary)
Gross Profit Margin
Operating Profit Margin
Net Profit Margin
Return on Equity (ROE)
Return on Assets (ROA)

Twenty-First Century Fox Inc., profitability ratios (quarterly data)

		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
	Return on Sales
	Gross profit margin
	Operating profit margin
	Net profit margin
	Return on Investment
	Return on equity (ROE)
	Return on assets (ROA)

The analysis of the quarterly financial ratios reveals several key trends over the period from 2012 to 2018. The data indicates fluctuations in profit margins and returns, with some pronounced variations in specific quarters.

Gross Profit Margin: The gross profit margin shows a generally stable pattern with slight oscillations. Starting at 36.78% in the third quarter of 2012, it experiences a gradual decline towards 33.59%-33.93% in late 2013 and early 2014. Subsequently, a rebound is evident as the margin increases steadily, reaching peaks above 37% during 2015 and 2016. Towards the last quarters of the period, there is a mild decrease with values fluctuating around 35% to 35.38%, indicating a relatively consistent profitability at the gross level.
Operating Profit Margin: The operating profit margin exhibits a similar pattern of fluctuation but with more marked changes. Initially at 19.25% in late 2012, it decreases to around 17% during 2013 and early 2014. After this dip, the margin increases steadily, achieving a high point near 22.6% in mid-2016. Thereafter, it experiences moderate declines and stabilization around the 20-21% range, suggesting that operating efficiency improved after 2014 but faced some pressure towards the end of the period.
Net Profit Margin: The net profit margin displays higher volatility compared to gross and operating margins. Starting at 25.64% in late 2012, it falls sharply to lows of approximately 10% during 2013 to mid-2014. This is followed by a significant recovery with margins surging above 28% in late 2014 to mid-2015. However, the margin declines again to under 11% in 2015 and 2016, before gradually improving in 2017 and 2018, reaching an exceptional peak of 44.71% in the last quarter of 2018. This pattern suggests episodic impacts on net profitability, possibly due to non-operating factors or one-time events.
Return on Equity (ROE): ROE follows a broadly similar cyclicality to the net profit margin. From a starting point of 41.75% in late 2012, it declines to around 18-26% during 2013 and early 2014, then climbs sharply reaching levels above 50% between late 2014 and mid-2015, indicating high shareholder returns during this interval. The ratio then decreases again to a range of 15-22% during 2015 to 2017, followed by an increase culminating at 43.36% by the end of 2018. Fluctuations in ROE likely reflect changing profitability and leverage conditions.
Return on Assets (ROA): ROA is noticeably more moderate and stable in its movements. It starts at 13.93% in late 2012, drops to a low around 5-8% during 2013-2014, then rebounds to a range of 16-17% in late 2014 and early 2015. Following this peak, the ROA again decreases to the 4.5-6% range during 2015-2017, before gradually increasing through 2018 to reach over 21% in the final quarter. This trajectory suggests the company’s asset utilization efficiency fluctuated but displayed recovery and improvement particularly towards the end of the period.

In summary, the financial ratios indicate a cyclical pattern of profitability and returns with notable peaks in the 2014-2015 period, followed by downturns and eventual recoveries. Net profit margin and ROE are the most volatile, reflecting sensitivity to specific quarterly events or operational conditions. Meanwhile, gross and operating margins show relatively steadier trends, and ROA captures moderate cycles in asset efficiency. The pronounced increase in the last quarter of 2018 across net profit margin, ROE, and ROA could imply a significant positive event impacting overall financial performance during that time.

Return on Sales

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Return on Investment

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Twenty-First Century Fox Inc., gross profit margin calculation (quarterly data)

		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
	Selected Financial Data (US$ in millions)
	Gross profit
	Revenues
	Profitability Ratio
	Gross profit margin¹
	Benchmarks
	Gross Profit Margin, Competitors²
	Alphabet Inc.
	Comcast Corp.
	Meta Platforms Inc.
	Netflix Inc.
	Walt Disney Co.

¹ Q2 2019 Calculation
Gross profit margin = 100 × (Gross profit_{Q2 2019} + Gross profit_{Q1 2019} + Gross profit_{Q4 2018} + Gross profit_{Q3 2018}) ÷ (Revenues_{Q2 2019} + Revenues_{Q1 2019} + Revenues_{Q4 2018} + Revenues_{Q3 2018})
= 100 × ( + + + ) ÷ ( + + + ) =

² Click competitor name to see calculations.

The data reveals several notable trends in the financial performance over the specified periods.

Gross Profit: Gross profit shows a pattern of fluctuation within a range roughly between 2,400 and 2,900 million US dollars. Initially, there is a gradual upward trend from September 2012 through the end of 2014, peaking around the third quarter of 2014. Subsequently, there is some volatility with profits declining until mid-2015 before rising again through early 2016. Afterward, gross profit fluctuates but generally remains near or above 2,500 million, with some declines visible in late 2017 and the end of 2018 periods.
Revenues: Revenues demonstrate an overall upward trajectory with sharper variations between quarters. Starting from approximately 6,000 million US dollars in late 2012, revenues increase notably to above 8,000 million around late 2013 and mid-2014. Following this peak, revenues experience a decline in 2015 and early 2016, reaching as low as around 6,000 million. Revenues then rise again to about 8,000 million during late 2016 to early 2017. The data shows sizeable quarterly oscillations but with a general upward trend peaking near 8,500 million at the close of the dataset in 2018.
Gross Profit Margin: The gross profit margin percentages, available only from 2013 onwards, indicate stability in profitability relative to revenues. The margin predominantly holds within a band of about 34% to 38%, reflecting consistent cost management or pricing strategies over the periods presented. Some improvement is seen from late 2014 through 2016 when margins exceed 37%, followed by a relative stabilization thereafter around 35%.

Overall, the data indicates that while revenues have experienced notable fluctuations, there is a moderate increase over time, and the company's gross profit adapts correspondingly with some variability. Profit margins remain relatively steady, suggesting effective control of the cost of goods sold amid changing revenue levels. The observed patterns point to periods of revenue and profit growth interrupted by intervals of decline, consistent with typical business cycles or external economic factors.

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Twenty-First Century Fox Inc., operating profit margin calculation (quarterly data)

		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
	Selected Financial Data (US$ in millions)
	Operating income
	Revenues
	Profitability Ratio
	Operating profit margin¹
	Benchmarks
	Operating Profit Margin, Competitors²
	Alphabet Inc.
	Comcast Corp.
	Meta Platforms Inc.
	Netflix Inc.
	Walt Disney Co.

¹ Q2 2019 Calculation
Operating profit margin = 100 × (Operating income_{Q2 2019} + Operating income_{Q1 2019} + Operating income_{Q4 2018} + Operating income_{Q3 2018}) ÷ (Revenues_{Q2 2019} + Revenues_{Q1 2019} + Revenues_{Q4 2018} + Revenues_{Q3 2018})
= 100 × ( + + + ) ÷ ( + + + ) =

² Click competitor name to see calculations.

The analysis of the quarterly financial data reveals several notable trends in the company’s operating income, revenues, and operating profit margin over the reported periods.

Operating Income: Operating income exhibited fluctuation throughout the observed quarters. Initially, from late 2012 to mid-2013, the operating income showed a slight declining trend, dipping from approximately 1,410 million USD to around 1,225 million USD. This was followed by a recovery phase where operating income increased steadily, peaking at 1,715 million USD in the first quarter of 2016. Subsequently, a significant decline occurred in mid-2016, dropping to 982 million USD, before rebounding again towards the end of 2016 and into 2017 where levels mostly ranged between 1,500 and 1,800 million USD. In the latter part of 2017 through 2018, operating income experienced variability but generally maintained a level above 1,300 million USD, with occasional peaks.
Revenues: Revenues demonstrated variability with some clear shifts in magnitude. The revenue peaked at 8,424 million USD in mid-2014. After this peak, a downward trend persisted through 2015, reaching a low near 6,077 million USD. Revenues then experienced a moderate recovery during late 2015 to early 2016, followed by periods of fluctuation between approximately 6,500 million USD and 8,000 million USD. This pattern continued into 2017 and 2018, reflecting cyclical movements, but without a definitive long-term upward or downward trajectory. The highest revenue in this time series was observed at 8,499 million USD near the end of 2018.
Operating Profit Margin: The operating profit margin was relatively stable over the periods where data is available, predominantly fluctuating between 17% and 22%. Starting from around 19.25% in late 2012, it slightly decreased in early 2013, then showed a general upward trend, reaching above 22% in late 2015 and early 2016. After this peak, marginal declines are observed but the margin remains largely within the 20% to 21% range through subsequent periods. This indicates consistent profitability relative to revenues despite fluctuations in absolute income and revenue figures.

Overall, the financial data indicates that while operating income and revenues have experienced cycles of growth and contraction, the company has maintained a consistently strong operating profit margin. This suggests effective cost management and operational efficiency amid fluctuating sales. The mid-2016 dip in operating income warrants further investigation to determine underlying causes, as it contrasts with otherwise more stable periods.

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Twenty-First Century Fox Inc., net profit margin calculation (quarterly data)

		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
	Selected Financial Data (US$ in millions)
	Net income attributable to Twenty-First Century Fox, Inc. stockholders
	Revenues
	Profitability Ratio
	Net profit margin¹
	Benchmarks
	Net Profit Margin, Competitors²
	Alphabet Inc.
	Comcast Corp.
	Meta Platforms Inc.
	Netflix Inc.
	Walt Disney Co.

¹ Q2 2019 Calculation
Net profit margin = 100 × (Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q2 2019} + Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q1 2019} + Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q4 2018} + Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q3 2018}) ÷ (Revenues_{Q2 2019} + Revenues_{Q1 2019} + Revenues_{Q4 2018} + Revenues_{Q3 2018})
= 100 × ( + + + ) ÷ ( + + + ) =

² Click competitor name to see calculations.

Net Income Trend: The net income attributable to stockholders exhibits notable volatility over the observed quarters. An initial upward movement is observed from September 2012 through March 2013, culminating in a peak of 2,854 million USD. A significant drop to a negative value in June 2013 (-371 million USD) marks a sharp reversal, followed by fluctuating recovery phases with peaks reaching as high as 6,207 million USD in December 2014. Post this spike, net income generally moderates, displaying multiple fluctuations but without a consistent upward or downward trend until a pronounced surge occurs in December 2018 with income exceeding 10,815 million USD.
Revenue Pattern: Revenues generally trend within a range of approximately 6,000 to 8,500 million USD across quarters. The data reflect moderate increases with occasional decreases, lacking strong seasonal or cyclical patterns. The highest annual revenues occur towards the end of 2018, surpassing 8,499 million USD. The revenue trajectory appears relatively stable compared to net income fluctuations, indicating that net income volatility may be influenced more by cost variations, one-time items, or other operational factors rather than top-line changes alone.
Net Profit Margin Analysis: Net profit margin percentages are available intermittently, beginning from March 2013. Margins fluctuate considerably, with recorded lows around 8% in mid-2016 and highs reaching above 44% in December 2018. The general trend shows variability but a tendency toward higher margins in later periods, particularly noticeable in the last quarter of 2018. This increase could denote improved profitability or extraordinary gains impacting earnings relative to revenues.
Overall Insights: The data suggest that while revenues remain relatively consistent, profitability experiences substantial swings. Sharp changes in net income and margins likely reflect one-time gains or losses, restructuring, or episodic financial events rather than steady business growth or decline. The significant peaks in net income and net profit margin in late 2014 and late 2018 warrant further investigation to understand underlying drivers. Stability in revenues amidst these swings indicates resilient sales performance, with profitability more sensitive to internal cost management or extraordinary financial impacts.

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Twenty-First Century Fox Inc., ROE calculation (quarterly data)

		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
	Selected Financial Data (US$ in millions)
	Net income attributable to Twenty-First Century Fox, Inc. stockholders
	Total Twenty-First Century Fox, Inc. stockholders’ equity
	Profitability Ratio
	ROE¹
	Benchmarks
	ROE, Competitors²
	Alphabet Inc.
	Comcast Corp.
	Meta Platforms Inc.
	Netflix Inc.
	Walt Disney Co.

¹ Q2 2019 Calculation
ROE = 100 × (Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q2 2019} + Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q1 2019} + Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q4 2018} + Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q3 2018}) ÷ Total Twenty-First Century Fox, Inc. stockholders’ equity
= 100 × ( + + + ) ÷ =

² Click competitor name to see calculations.

Net Income Trends: The net income attributable to stockholders exhibits significant fluctuations over the analyzed period. Initial quarters from September 2012 through March 2013 show a pattern of positive earnings, peaking at 2,854 million USD in March 2013. However, there is a notable negative spike in June 2013 amounting to -371 million USD, indicating a loss during that quarter. Following this dip, net income recovered with varying degrees, reaching a high of 6,207 million USD in December 2014. Post-2014, the net income figures again display variability, with a pronounced decline observed in several quarters—such as 87 million USD in March 2015—but later quarters like December 2017 and December 2018 reflect improvement, reporting 1,831 million and 10,815 million USD respectively. This pattern points to volatility in profitability, with occasional strong rebounds.
Stockholders’ Equity Movements: Stockholders’ equity displays an overall increasing trend with intermittent decreases. Starting at 26,264 million USD in September 2012, equity rises consistently to a peak near 30,064 million USD in March 2013 before sharply declining to 16,998 million USD in June 2013. Throughout 2013 and 2014, equity levels remain relatively stable but generally lower, fluctuating around the 15,000 to 19,000 million USD range. A downward trend is apparent during 2015 and into mid-2016, with the lowest point approximately 13,661 million USD in June 2016. After this period, equity gradually recovers, showing steady growth through 2017 and 2018, culminating at 32,005 million USD by December 2018. The equity dynamics suggest episodic capital adjustments or accounting impacts affecting the equity base.
Return on Equity (ROE) Analysis: The return on equity measures demonstrate considerable variability across the quarters, with missing data at the start. ROE peaks significantly in December 2014 at approximately 51.24%, indicating high profitability relative to equity for that period. This is followed by generally lower but still strong ROE figures from 2015 through 2018, typically ranging between 15% and 24%. The lowest ROE values occur in the first half of 2016, around 15%, aligning with the period of lowest stockholders’ equity, which may reflect diminished returns or challenges in profitability relative to equity during that time. The sharp increase to 43.36% in December 2018 suggests a marked improvement in earnings efficiency for that quarter.
Overall Financial Insights: The data reveals a pattern of volatility in both profitability and equity during the observed timeframe. The persistent fluctuations in net income combined with sharp equity changes, particularly around 2013 and mid-2016, may indicate significant operational or structural transitions within the company. Despite these volatilities, the overall trajectory towards the latter part of the period is one of recovery and growth, as evidenced by increased equity and enhanced ROE levels in 2017 and 2018. This suggests a strengthening financial position and improved capacity to generate returns on stockholders’ investments in the more recent quarters analyzed.

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Twenty-First Century Fox Inc., ROA calculation (quarterly data)

		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
	Selected Financial Data (US$ in millions)
	Net income attributable to Twenty-First Century Fox, Inc. stockholders
	Total assets
	Profitability Ratio
	ROA¹
	Benchmarks
	ROA, Competitors²
	Alphabet Inc.
	Comcast Corp.
	Meta Platforms Inc.
	Netflix Inc.
	Walt Disney Co.

¹ Q2 2019 Calculation
ROA = 100 × (Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q2 2019} + Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q1 2019} + Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q4 2018} + Net income attributable to Twenty-First Century Fox, Inc. stockholders_{Q3 2018}) ÷ Total assets
= 100 × ( + + + ) ÷ =

² Click competitor name to see calculations.

The financial data demonstrates variable performance across the periods under review. Net income attributable to stockholders shows notable fluctuations, with periods of significant positive income interspersed with a marked negative value in June 30, 2013. Following this, net income generally exhibits an increasing trend, highlighted by a peak in December 31, 2014, and another surge at the end of 2018. Despite some quarters with lower earnings, the overall trajectory appears upward over the entire timeline.

Total assets exhibit a general pattern of stability with some fluctuations. Starting from a base figure in September 2012, assets increased gradually until March 2013 before experiencing a dip in June 2013. Thereafter, assets mostly hovered within a range without substantial jumps until a distinct increase surfaces at the end of 2018, indicating a possible expansion or asset revaluation during that period.

The return on assets (ROA) shows entries only from March 31, 2013, onward and presents considerable variation. Early values remain relatively high, peaking above 17% in the late 2014 and early 2015 quarters, then declining to a low of around 4.6% in December 2015. Following this decline, ROA momentarily stabilizes between 5% and 8%, with a notable increase towards the final reported quarter, reaching over 21%, which suggests improved asset efficiency and profitability.

Net Income Attributable to Stockholders: Significant volatility with a substantial loss noted in mid-2013. Strong recovery and growth periods follow, with marked income peaks in late 2014 and late 2018, indicating phases of enhanced profitability.
Total Assets: Fluctuations marked by a peak in early 2013 and a trough in mid-2013, followed by relative stability. An upward shift is evident at the end of the series, signaling increased asset holdings or valuation adjustments.
Return on Assets (ROA): High variability with early peaks exceeding 17%, a mid-series decline to below 5%, then a recovery trend culminating in the highest observed ROA value above 21% at the dataset's end, reflecting fluctuating but improving asset utilization efficiency.

Overall, the data indicates that the company experienced periods of both challenge and strength, with profitability and asset management improving substantially towards the end of the analyzed timeframe. The increased net income and ROA paired with the asset base growth at the end suggest positive underlying operational and financial developments.

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

Analysis of Profitability Ratios
Quarterly Data

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Profitability Ratios (Summary)

Return on Sales

Return on Investment

Gross Profit Margin

Operating Profit Margin

Net Profit Margin

Return on Equity (ROE)

Return on Assets (ROA)

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

Analysis of Profitability RatiosQuarterly Data

Paying user area

Try for free

Profitability Ratios (Summary)

Return on Sales

Return on Investment

Gross Profit Margin

Operating Profit Margin

Net Profit Margin

Return on Equity (ROE)

Return on Assets (ROA)

Analysis of Profitability Ratios
Quarterly Data