Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Twenty-First Century Fox Inc., EBITDA calculation

US$ in millions

12 months ended:	Jun 30, 2018	Jun 30, 2017	Jun 30, 2016	Jun 30, 2015	Jun 30, 2014	Jun 30, 2013
Net income attributable to Twenty-First Century Fox, Inc. stockholders	4,464)	2,952)	2,755)	8,306)	4,514)	7,097)
Add: Net income attributable to noncontrolling interest	298)	274)	261)	231)	132)	226)
Less: Income (loss) from discontinued operations, net of tax	(12)	(44)	(8)	(67)	729)	277)
Add: Income tax expense	(364)	1,419)	1,130)	1,243)	1,272)	1,690)
Earnings before tax (EBT)	4,410)	4,689)	4,154)	9,847)	5,189)	8,736)
Add: Interest expense, net	1,248)	1,219)	1,184)	1,198)	1,121)	1,063)
Earnings before interest and tax (EBIT)	5,658)	5,908)	5,338)	11,045)	6,310)	9,799)
Add: Depreciation and amortization	584)	553)	530)	736)	1,142)	797)
Add: Amortization of cable distribution investments	69)	65)	75)	80)	85)	89)
Earnings before interest, tax, depreciation and amortization (EBITDA)	6,311)	6,526)	5,943)	11,861)	7,537)	10,685)

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).

Download chart

Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Twenty-First Century Fox Inc. EBITDA increased from 2016 to 2017 but then slightly decreased from 2017 to 2018.

Twenty-First Century Fox Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	104,923)
Earnings before interest, tax, depreciation and amortization (EBITDA)	6,311)
Valuation Ratio
EV/EBITDA	16.63
Benchmarks
EV/EBITDA, Competitors¹
Alphabet Inc.	19.31
Comcast Corp.	6.47
Meta Platforms Inc.	20.63
Netflix Inc.	11.95
Walt Disney Co.	20.29

Based on: 10-K (reporting date: 2018-06-30).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Twenty-First Century Fox Inc., historical EV/EBITDA calculation, comparison to benchmarks

	Jun 30, 2018	Jun 30, 2017	Jun 30, 2016	Jun 30, 2015	Jun 30, 2014	Jun 30, 2013
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	97,094)	67,184)	65,245)	72,403)	95,442)	85,538)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	6,311)	6,526)	5,943)	11,861)	7,537)	10,685)
Valuation Ratio
EV/EBITDA³	15.38	10.29	10.98	6.10	12.66	8.01
Benchmarks
EV/EBITDA, Competitors⁴
Alphabet Inc.	—	—	—	—	—	—
Comcast Corp.	—	—	—	—	—	—
Meta Platforms Inc.	—	—	—	—	—	—
Netflix Inc.	—	—	—	—	—	—
Walt Disney Co.	10.27	—	—	—	—	—

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).

¹ See details »

² See details »

³ 2018 Calculation
EV/EBITDA = EV ÷ EBITDA
= 97,094 ÷ 6,311 = 15.38

⁴ Click competitor name to see calculations.

Download chart

Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Twenty-First Century Fox Inc. EV/EBITDA ratio decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.

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

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical