Twenty-First Century Fox Inc., FCFF 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
	Net income attributable to noncontrolling interests
	Net noncash charges
	Change in operating assets and liabilities, net of acquisitions and dispositions
	Net cash provided by operating activities
	Cash paid for interest, net of tax¹
	Property, plant and equipment
	Free cash flow to the firm (FCFF)

Item	Description	The company
FCFF	Free cash flow to the firm is the cash flow available to the Twenty-First Century Fox Inc.’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made.	Twenty-First Century Fox Inc.’s FCFF increased from 2016 to 2017 and from 2017 to 2018.

Twenty-First Century Fox Inc., interest paid, net of tax 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
	Effective Income Tax Rate (EITR)
	EITR¹
	Interest Paid, Net of Tax
	Cash paid for interest, before tax
	Less: Cash paid for interest, tax²
	Cash paid for interest, net of tax

² 2018 Calculation
Cash paid for interest, tax = Cash paid for interest × EITR
= hidden × hidden = hidden

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

Selected Financial Data (US$ in millions)
Enterprise value (EV)
Free cash flow to the firm (FCFF)
Ratio
EV/FCFF
Benchmarks
EV/FCFF, Competitors¹
Charter Communications Inc.
Comcast Corp.
Walt Disney Co.
EV/FCFF, Sector
Media
EV/FCFF, Industry
Consumer Services

¹ Click competitor name to see calculations.

If company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.

Otherwise, if company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.

Twenty-First Century Fox Inc., historical EV/FCFF 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
	Free cash flow to the firm (FCFF)²
	Ratio
	EV/FCFF³
	Benchmarks
	EV/FCFF, Competitors⁴
	Charter Communications Inc.
	Comcast Corp.
	Walt Disney Co.
	EV/FCFF, Sector
	Media
	EV/FCFF, Industry
	Consumer Services

³ 2018 Calculation
EV/FCFF = EV ÷ FCFF
= hidden ÷ hidden = hidden

⁴ Click competitor name to see calculations.

Ratio	Description	The company
EV/FCFF	Enterprise value to free cash flow to the firm is whole company valuation indicator.	Twenty-First Century Fox Inc.’s EV/FCFF ratio declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.

	Twenty-First Century Fox Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

Twenty-First Century Fox Inc. (FOXA)

Enterprise Value to FCFF (EV/FCFF)