Fox Corporation (FOXA) Stock Price & How to Invest

Fox Corporation runs two main segments. Cable Network Programming holds Fox News Media, FS1, FS2 and the Big Ten Network, and it is the profit engine: it earns affiliate fees from cable, satellite and virtual pay-TV distributors plus advertising. The Television segment holds the FOX broadcast network, the owned and operated local stations, Fox Entertainment and Tubi, and it carries most of the sports rights costs, including the NFL, MLB, college football and, in fiscal 2026, the FIFA Men's World Cup. Fox deliberately kept only content that people watch live, on the theory that live sports and live news are the last programming a distributor cannot drop and an advertiser cannot skip.

Fiscal 2026, which ended in June 2026, was the largest year in the company's short history: revenue of roughly $17.13 billion, net income of about $1.73 billion and adjusted EBITDA of about $3.91 billion. The fourth quarter alone did about $4.21 billion in revenue, up 28% year over year, with advertising up 78% on the World Cup and continued Tubi growth. Two structural moves define the investment picture from here. FOX One, the direct-to-consumer streaming service, launched during the year as the company's answer to viewers who never take a cable package. And in June 2026 Fox agreed to acquire Roku for about $22 billion in cash and stock ($96.00 in cash plus 0.9693 FOXA shares per Roku share, roughly $160.00 per share), funded partly with a $12 billion loan, with closing expected in the first half of 2027. That deal would move Fox from being a supplier of content into owning the connected-TV operating system and the customer relationship, which is a different and considerably more capital-intensive company than the one that reported fiscal 2026.

The central structural risk is pay-TV subscriber decline: distribution revenue was roughly flat in fiscal 2026 because higher affiliate rates only just offset subscriber losses, and rate increases cannot outrun that erosion forever. Advertising is cyclical and, in Fox's case, unusually lumpy, since fiscal 2026 included a FIFA Men's World Cup that does not recur and the Super Bowl rotates among networks on a multi-year cycle, so year-over-year comparisons can mislead in both directions. Sports rights costs inflate at every renewal, and competing bidders now include Amazon, Apple, Netflix and YouTube, which have deeper balance sheets and different reasons to pay. The Roku transaction adds integration risk, regulatory risk and roughly $12 billion of new debt to a company that previously ran conservatively, and the stock consideration means the deal's value to existing holders depends on where FOXA trades at close. Fox also carries elevated legal exposure at its news unit following the 2023 Dominion Voting Systems settlement, with related matters including the Smartmatic case still outstanding, and the dual-class structure leaves voting control with the Murdoch Family Trust, so FOXA holders have economic exposure without a meaningful vote.

17 analysts publish price targets on FOXA, averaging $73.39 against a $69.04 price as of August 2026, or +6.3%. The published targets run from $52.60 to $112.00, a wide spread, and the ratings split 10 buy, 7 hold, 1 sell. Over the last six months there have been 6 raises and 4 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full FOXA forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Fox Corporation. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Live sports as the scarce inventory. Fox's rights portfolio (NFL, MLB, college football, NASCAR, and the FIFA Men's World Cup in fiscal 2026) is what forces distributors to keep carrying its channels and what draws the advertising dollars that cannot be reached anywhere else at scale. The most optimistic published target, $112.00, assumes this works close to its best case.

The case against. The central structural risk is pay-TV subscriber decline: distribution revenue was roughly flat in fiscal 2026 because higher affiliate rates only just offset subscriber losses, and rate increases cannot outrun that erosion forever. The most pessimistic target, $52.60, is roughly what FOXA is worth if this bites instead.

Read the full bull and bear case on FOXA, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Fox Corporation's investor relations page or your broker.

• Revenue (TTM, fiscal year ended June 2026): ~$17.13 billion
• Net income (FY2026): ~$1.73 billion
• Adjusted EBITDA (FY2026): ~$3.91 billion
• Q4 FY2026 revenue: ~$4.21 billion, up ~28% year over year
• Market cap: ~$29 billion (FOXA ~$69 per share)
• Price / FY2026 earnings: ~17x

Figures are approximate, tied to the August 2026 asOf date, and worth checking live before acting on them. Fox has historically traded at a discount to media peers on earnings and cash flow, which reflects the market's discount for a shrinking affiliate base rather than a discount for poor execution. The trailing multiple also flatters fiscal 2026, because that year carried the FIFA Men's World Cup, and the Roku acquisition will materially change both the share count and the debt load once it closes.

Other names that sit close to FOXA: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get FOXA exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so FOXA sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where FOXA fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Fox is a concentrated bet on live viewing, sports rights and news, now with a $22 billion acquisition of Roku layered on top, so the stock turns on whether that distribution bet pays for itself before cord cutting finishes eroding the affiliate fee base.

Whether FOXA is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is FOXA a buy or a sell?, and where the stock could go from here in the FOXA stock forecast.

For income investors, whether FOXA pays a dividend and how the payout looks is covered in does FOXA pay a dividend? And to weigh FOXA against a peer, read the full side-by-side comparisons: FOXA vs CMCSA and FOXA vs PSKY.