News Corp (NWSA)
Market Price (11/12/2026): $26.87 | Market Cap: $14.4 BilInvestor Relations Sector: Communication Services | Industry: Publishing
News Corp (NWSA)
Market Price (11/12/2026): $26.87Market Cap: $14.4 BilSector: Communication ServicesIndustry: Publishing
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.8% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% Stock buyback supportStock Buyback 3Y Total is 1.0 Bil Low stock price volatilityVol 12M is 29% Megatrend and thematic driversMegatrends include Digital Content & Streaming, E-commerce & Digital Retail, and Digital Advertising. Themes include Video Streaming, Show more. | Weak multi-year price returns2Y Excs Rtn is -33%, 3Y Excs Rtn is -46% | Key risksNWSA key risks include [1] a copyright lawsuit from Brave Software over its AI-driven search summaries and [2] declining revenue from its Realtor.com segment due to a challenging real estate market. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.8% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Stock buyback supportStock Buyback 3Y Total is 1.0 Bil |
| Low stock price volatilityVol 12M is 29% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, E-commerce & Digital Retail, and Digital Advertising. Themes include Video Streaming, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -33%, 3Y Excs Rtn is -46% |
| Key risksNWSA key risks include [1] a copyright lawsuit from Brave Software over its AI-driven search summaries and [2] declining revenue from its Realtor.com segment due to a challenging real estate market. |
Qualitative Assessment
AI Analysis | Feedback
Nov 5: down 13.4% the day after its Nov 4 earnings report (S&P 500 down 4.4%)
The stock fell as free cash flow turned negative despite Q1 earnings beating estimates with revenue and net income growth. The broader market also saw a significant decline driven by widespread concerns about AI stocks.
Down 15.1% from its Aug 27 high to Nov 6 (S&P 500 down 4.6%)
The stock declined significantly over the period, largely without specific company news on most of its biggest down days. The largest drop occurred on November 5, coinciding with its Q1 earnings report and a broader market decline.
Nov 5: down 13.4% the day after its Nov 4 earnings report (S&P 500 down 4.4%)
The stock fell as free cash flow turned negative despite Q1 earnings beating estimates with revenue and net income growth. The broader market also saw a significant decline driven by widespread concerns about AI stocks.
Down 15.1% from its Aug 27 high to Nov 6 (S&P 500 down 4.6%)
The stock declined significantly over the period, largely without specific company news on most of its biggest down days. The largest drop occurred on November 5, coinciding with its Q1 earnings report and a broader market decline.
Show less
Stock Movement Drivers
Fundamental Drivers
The -2.3% change in NWSA stock from 7/31/2026 to 11/11/2026 was primarily driven by a -47.6% change in the company's Net Income Margin (%).| (LTM values as of) | 7312026 | 11112026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.47 | 26.83 | -2.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,800 | 9,165 | 4.1% |
| Net Income Margin (%) | 12.9% | 6.8% | -47.6% |
| P/E Multiple | 13.4 | 23.4 | 74.9% |
| Shares Outstanding (Mil) | 554 | 541 | 2.4% |
| Cumulative Contribution | -2.3% |
Market Drivers
7/31/2026 to 11/11/2026| Return | Correlation | |
|---|---|---|
| NWSA | -2.3% | |
| Market (SPY) | 1.7% | 52.3% |
| Sector (XLC) | 0.3% | 31.0% |
Fundamental Drivers
The 2.3% change in NWSA stock from 4/30/2026 to 11/11/2026 was primarily driven by a 83.2% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 11112026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.23 | 26.83 | 2.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,624 | 9,165 | 6.3% |
| Net Income Margin (%) | 13.3% | 6.8% | -49.3% |
| P/E Multiple | 12.8 | 23.4 | 83.2% |
| Shares Outstanding (Mil) | 561 | 541 | 3.6% |
| Cumulative Contribution | 2.3% |
Market Drivers
4/30/2026 to 11/11/2026| Return | Correlation | |
|---|---|---|
| NWSA | 2.3% | |
| Market (SPY) | 6.0% | 22.8% |
| Sector (XLC) | -6.5% | 38.7% |
Fundamental Drivers
The 2.0% change in NWSA stock from 10/31/2025 to 11/11/2026 was primarily driven by a 89.0% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 11112026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.30 | 26.83 | 2.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,452 | 9,165 | 8.4% |
| Net Income Margin (%) | 14.0% | 6.8% | -51.5% |
| P/E Multiple | 12.4 | 23.4 | 89.0% |
| Shares Outstanding (Mil) | 556 | 541 | 2.7% |
| Cumulative Contribution | 2.0% |
Market Drivers
10/31/2025 to 11/11/2026| Return | Correlation | |
|---|---|---|
| NWSA | 2.0% | |
| Market (SPY) | 12.3% | 23.7% |
| Sector (XLC) | -4.6% | 41.3% |
Fundamental Drivers
The 32.7% change in NWSA stock from 10/31/2023 to 11/11/2026 was primarily driven by a 263.8% change in the company's Net Income Margin (%).| (LTM values as of) | 10312023 | 11112026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.23 | 26.83 | 32.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,012 | 9,165 | 14.4% |
| Net Income Margin (%) | 1.9% | 6.8% | 263.8% |
| P/E Multiple | 77.8 | 23.4 | -69.9% |
| Shares Outstanding (Mil) | 573 | 541 | 5.9% |
| Cumulative Contribution | 32.7% |
Market Drivers
10/31/2023 to 11/11/2026| Return | Correlation | |
|---|---|---|
| NWSA | 32.7% | |
| Market (SPY) | 87.9% | 46.3% |
| Sector (XLC) | 73.1% | 53.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NWSA Return | 25% | -18% | 36% | 13% | -4% | 3% | 57% |
| Peers Return | 1% | -21% | 35% | 19% | 11% | -26% | 7% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| NWSA Win Rate | 58% | 33% | 83% | 67% | 58% | 55% | |
| Peers Win Rate | 53% | 40% | 57% | 45% | 48% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| NWSA Max Drawdown | -24% | -36% | -27% | -11% | -21% | -17% | |
| Peers Max Drawdown | -31% | -38% | -22% | -20% | -28% | -45% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NYT, TRI, Z, CSGP, FOXA. See NWSA Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/11/2026 (YTD)
How Low Can It Go
| Event | NWSA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.1% | -18.8% |
| % Gain to Breakeven | 26.7% | 23.1% |
| Time to Breakeven | 136 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -17.3% | -6.7% |
| % Gain to Breakeven | 21.0% | 7.1% |
| Time to Breakeven | 63 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.7% | -24.5% |
| % Gain to Breakeven | 50.7% | 32.4% |
| Time to Breakeven | 426 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -43.5% | -33.7% |
| % Gain to Breakeven | 76.8% | 50.9% |
| Time to Breakeven | 129 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -18.8% | -19.2% |
| % Gain to Breakeven | 23.1% | 23.8% |
| Time to Breakeven | 177 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -18.3% | -3.7% |
| % Gain to Breakeven | 22.3% | 3.9% |
| Time to Breakeven | 201 days | 6 days |
In The Past
News Corp's stock fell -21.1% during the 2025 US Tariff Shock. Such a loss loss requires a 26.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | NWSA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.1% | -18.8% |
| % Gain to Breakeven | 26.7% | 23.1% |
| Time to Breakeven | 136 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.7% | -24.5% |
| % Gain to Breakeven | 50.7% | 32.4% |
| Time to Breakeven | 426 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -43.5% | -33.7% |
| % Gain to Breakeven | 76.8% | 50.9% |
| Time to Breakeven | 129 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -31.3% | -12.2% |
| % Gain to Breakeven | 45.5% | 13.9% |
| Time to Breakeven | 638 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -40.5% | -6.8% |
| % Gain to Breakeven | 68.2% | 7.3% |
| Time to Breakeven | 700 days | 15 days |
In The Past
News Corp's stock fell -21.1% during the 2025 US Tariff Shock. Such a loss loss requires a 26.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About News Corp (NWSA)
News Corp (NWSA) is a global media and information services company that creates and distributes content for consumers and businesses across various platforms. Its operations are diversified, spanning six key segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other. This broad structure allows it to deliver a wide array of news, entertainment, and information through traditional and digital channels.
The company's core products and services include leading news and financial publications like The Wall Street Journal, The Times, and the New York Post, alongside numerous daily and Sunday newspapers in different markets. News Corp also provides critical business intelligence and financial data services through brands such as Factiva and Dow Jones Newswires. Additionally, it is a significant player in book publishing, offering a diverse catalog of general fiction, nonfiction, children's, and religious titles.
Beyond traditional media, News Corp offers digital real estate services, providing online property advertising and related solutions, and operates subscription video services that deliver sports, entertainment, and news content to pay-TV subscribers. Its primary customers include individual consumers of news, books, and entertainment, businesses that rely on its data and information products, and advertisers looking to reach vast audiences across its extensive global network of print, digital, and video platforms.
AI Analysis | Feedback
Here are 1-3 brief analogies to describe News Corp (NWSA):
- Imagine a company that owns The Wall Street Journal for financial news and data, HarperCollins for book publishing, and realtor.com for online real estate services.
- Think of it as an information and content empire, similar to if Bloomberg owned Penguin Random House and a global network of newspapers.
AI Analysis | Feedback
- News Publications: Operates various daily, Sunday, weekly, and bi-weekly newspapers (e.g., The Wall Street Journal, The Times, New York Post) and their digital mastheads, providing news and analysis.
- Financial Information & Data Services: Provides professional data products, business news, market analysis, and compliance tools through brands like Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and Investor's Business Daily.
- Book Publishing: Publishes a wide range of books across genres including general fiction, nonfiction, children's, and religious titles.
- Digital Real Estate Services: Offers online property advertising, real estate information, and professional software solutions through websites and mobile applications.
- Subscription Video Services: Delivers video content encompassing sports, entertainment, and news to pay-TV subscribers and commercial licensees.
- Financial Services: Provides various financial service offerings to consumers and businesses.
AI Analysis | Feedback
News Corp (NWSA) primarily serves individuals. Its major customer categories include:
-
News and Financial Information Subscribers/Readers: This category encompasses individuals who subscribe to or purchase News Corp's extensive portfolio of newspapers (such as The Wall Street Journal, The Times, New York Post, and various Australian titles) and access its digital news and financial analysis platforms (like Barron's, MarketWatch, and Investor's Business Daily).
-
Entertainment and Book Consumers: This includes individuals who subscribe to pay-TV services for sports, entertainment, and news content through its Subscription Video Services segment, as well as those who purchase general fiction, nonfiction, children's, and religious books from its Book Publishing segment.
-
Digital Real Estate Users: Individuals utilizing News Corp's online platforms and mobile applications for property search and related services provided by its Digital Real Estate Services segment.
AI Analysis | Feedback
AI Analysis | Feedback
Robert Thomson, Chief Executive
Robert Thomson has served as Chief Executive of News Corp since 2013, with his contract extended through June 2030. He has been central to the publishing industry's efforts to secure fair payments from social media and technology companies for news content. Prior to his current role, he was Editor-in-Chief of Dow Jones and Managing Editor of The Wall Street Journal from 2008 to 2012, Publisher of Dow Jones from 2007 to 2008, and Editor of The Times of London from 2002 to 2007. He also served as Managing Editor of the U.S. edition of the Financial Times from 1998 to 2002. Thomson began his journalism career as a copyboy at The Herald in Melbourne in 1979.
Lavanya Chandrashekar, Chief Financial Officer
Lavanya Chandrashekar was appointed Chief Financial Officer of News Corporation, effective January 1, 2025, succeeding Susan Panuccio. She brings nearly 30 years of experience in international finance and investor relations. Before joining News Corp, Ms. Chandrashekar served as Chief Financial Officer of Diageo plc from 2021 to September 2024. Her previous roles include Global Head of Investor Relations at Diageo (2020–2021) and Chief Financial Officer of Diageo North America (2018–2021). She also held senior finance positions at Procter & Gamble and Mondelēz International.
Lachlan Murdoch, Chair
Lachlan Murdoch has served as the Chair of News Corporation's Board since November 2023, having previously been Co-Chair since 2014. He has been a Director of News Corp since the company's June 2013 separation from its former parent. Mr. Murdoch also holds the positions of Executive Chair (since 2019) and Chief Executive Officer (since 2018) of Fox Corporation. His previous experience includes serving as Executive Chairman of Twenty-First Century Fox and Deputy Chief Operating Officer of the former News Corporation, where he oversaw HarperCollins and the company's Australian businesses, including REA Group. He initiated News Corp's controlling investment in REA Group and is the Executive Chairman of his private company, Illyria Pty Ltd.
Almar Latour, CEO, Dow Jones
Almar Latour is the Chief Executive Officer of Dow Jones and Publisher of The Wall Street Journal, a division of News Corp. Under his leadership, Dow Jones has seen a doubling of digital subscriptions and has achieved record profits and revenue. He oversaw the creation of the Barron's Group, significantly increasing its digital audience at Barron's and MarketWatch, and led the modernization of The Wall Street Journal's website. Latour's career at Dow Jones began as a news assistant in 1995. He has served as Executive Editor for The Wall Street Journal and Dow Jones, Editor-in-Chief for The Wall Street Journal and Dow Jones Newswires in Asia, and Managing Editor of The Wall Street Journal Online. He has worked as a journalist on three continents, covering topics such as technology and mega-mergers.
Anoushka Healy, Chief Strategy Officer; Executive Vice President
Anoushka Healy serves as the Chief Strategy Officer and Executive Vice President of News Corp. Her previous roles include Group Managing Editor of The Times and The Sunday Times of London, where she also held various positions such as Managing Editor and Assistant Editor for Strategy & Development. Before her tenure at The Times, Ms. Healy served as the Head of Corporate Communications at the Financial Times for seven years.
AI Analysis | Feedback
Key Risks to News Corp (NWSA)
- Declining Advertising Revenue and Structural Challenges in News Media: News Corp faces a significant and ongoing decline in advertising revenue, particularly within its traditional news media segment. This trend is driven by a shift in advertising to digital platforms, which has not fully offset the losses from print. Even digital advertising revenues are susceptible to factors such as changes in platform algorithms and reduced traffic to news websites. Advertising in News Corp’s news media division now constitutes a small percentage of its total revenue, a trend expected to continue.
- Impact of Artificial Intelligence on Content Consumption and Revenue Models: The rise of generative AI presents both opportunities and substantial risks for News Corp. While the company has secured licensing deals with AI entities like OpenAI and Meta to monetize its content, there is a risk that AI-powered search generative experiences could directly answer user queries, thereby reducing direct traffic to News Corp's news sites and potentially impacting advertising revenue. Furthermore, News Corp's CEO has voiced concerns about AI companies potentially "pilfering" content, highlighting ongoing challenges in protecting intellectual property and ensuring fair compensation in the evolving AI landscape.
- Cyclical Nature of Digital Real Estate Services and Broader Economic Conditions: Although News Corp’s Digital Real Estate Services segment, which includes businesses like REA Group, has been a strong performer, it is vulnerable to the inherent volatility and cyclicality of global real estate markets. Fluctuations in interest rates, for instance, can significantly impact listing volumes and overall market activity, introducing cyclical risk to this segment. More broadly, advertising expenditures across News Corp’s diverse businesses tend to be cyclical, reflecting overall economic health, which makes the company susceptible to adverse economic downturns.
AI Analysis | Feedback
- Generative Artificial Intelligence (AI) in Content Creation: The rapid advancement and adoption of generative AI models pose a clear emerging threat across News Corp's Dow Jones, Book Publishing, and News Media segments. These AI tools are increasingly capable of generating high-quality news articles, financial analyses, market summaries, and even entire books faster and at a lower cost than human journalists, editors, and authors. This threatens to commoditize content production, increase competition, and potentially erode the value proposition of traditionally created and curated content, putting significant pressure on existing business models reliant on human intellectual capital.
- Proliferation of Direct-to-Consumer (DTC) Streaming Services: For News Corp's Subscription Video Services segment (e.g., Foxtel), the accelerating trend of major content owners, sports leagues, and studios launching their own direct-to-consumer streaming platforms (e.g., Disney+, Paramount+, ESPN+, specific sports league apps) represents a significant emerging threat. This trend disintermediates traditional aggregators of content, allowing viewers to bypass bundled pay-TV services in favor of subscribing directly to niche or broad content providers. This increases competition for subscriber attention and valuable content rights, leading to potential subscriber churn and pressure on subscription revenue.
AI Analysis | Feedback
Digital Real Estate Services
- Australia Online Real Estate Services: While specific market size figures for the overall Australian online real estate services market are not readily available, News Corp's REA Group is a dominant player in Australia's digital property marketplace. REA Group generated total revenue of $2.03 billion in 2026.
Subscription Video Services
- Australia Pay-TV Market: The market size for Pay TV and Internet Protocol TV Services in Australia was approximately USD 7.7 billion in 2026. This market was valued at USD 5.82 billion in 2025 and is projected to reach USD 7.08 billion by 2034, growing at a CAGR of 2.2%.
Dow Jones (Financial Information and Business News)
- Global Financial Data Services Market: This market was valued at approximately USD 29.53 billion in 2024 and is projected to reach about USD 63.18 billion by 2032, growing at a CAGR of 9.29%. Another estimate places the global financial data services market at USD 30.5 billion in 2026, projected to reach USD 59 billion by 2035.
Book Publishing
- Global Book Publishing Market: The total global book market size is estimated at approximately USD 138 billion to USD 145 billion in 2026. The global book market's total value was around USD 156.6 billion in 2025, projected to reach USD 192.1 billion by 2030. The global consumer book publishing market reached USD 70.6 billion in 2025.
- U.S. Book Publishing Market: The U.S. book publishing industry generated USD 32.5 billion in revenue in 2024, making it the largest single-country book market globally. The market size of book publishing in the U.S. is USD 49.0 billion in 2026.
News Media
- Global Newspaper Publishing Industry: The market size for the Global Newspaper Publishing industry is estimated to be USD 80.5 billion in 2026. Global news media revenue, encompassing daily and weekly news publications, had an estimated combined revenue of USD 125.7 billion in 2025.
- U.S. Newspaper Market: The U.S. newspaper market size was estimated at USD 20.61 billion in 2024. Another report valued it at USD 21 billion in 2024, with a projection to shrink to USD 18.99 billion by 2030.
- Australian Newspaper Publishing Industry: The total newspaper revenues in Australia fell to USD 3.0 billion in 2018. More recent specific market size data for the overall Australian Newspaper Publishing market beyond 2018, separate from broader publishing market data, is not explicitly available in the provided snippets.
- UK Newspaper Publishing Sector: The British newspaper publishing sector's revenue was approximately €4.5 billion in 2023 and is projected to decline to around €3.9 billion by 2028. The market size of Newspaper Publishing in the UK was £3.0 billion in 2025.
AI Analysis | Feedback
News Corp (NWSA) is expected to drive future revenue growth over the next two to three years through several key initiatives and segment performances:
-
Growth in Digital Real Estate Services: The Digital Real Estate Services segment, primarily through REA Group and Realtor.com, is consistently highlighted as a strong growth engine. REA Group has shown robust performance driven by the Australian residential market, including price increases, growth in add-on products, and listing volumes. Realtor.com contributes with growth from premium offerings, product innovation, audience share gains, and expansion into growth adjacencies. Management has set targets for 10% to 12% revenue growth in this segment for fiscal year 2027.
-
Expansion of Dow Jones' Professional Information Business and Digital Offerings: The Dow Jones segment is a significant contributor to News Corp's profitability and growth. Future revenue expansion is anticipated from the acceleration of its Risk & Compliance and Dow Jones Energy businesses, which are expected to drive margin expansion. The company also focuses on accelerating direct-to-consumer offerings with new products and pricing, and a sharp focus on high-margin enterprise news. Digital circulation revenues continue to grow, with digital content forming a substantial and increasing portion of Dow Jones' total revenues and subscriptions. News Corp targets $1 billion in annual Dow Jones segment EBITDA within five years (from March 2026). This segment is also projected to achieve 10% to 12% revenue growth in fiscal year 2027.
-
Performance of Book Publishing: The Book Publishing segment, primarily through HarperCollins, is expected to contribute to revenue growth through strong physical and digital book sales, including robust frontlist and backlist titles, as well as recent acquisitions. Digital sales, particularly of e-books and audiobooks, have shown consistent growth and are a key area of focus.
-
Monetization of Content through AI Partnerships: News Corp is actively engaging in and pursuing partnerships related to Artificial Intelligence (AI). The company has existing content licensing deals with OpenAI and Meta, and is in discussions for further agreements with other companies that recognize the value of authoritative content. CEO Robert Thomson highlighted News Corp's position as an "AI inputs company" and expects these lucrative new monetization opportunities from large AI models to enhance revenue and profitability. Furthermore, News Corp anticipates receiving a share of the $1.5 billion settlement with Anthropic.
AI Analysis | Feedback
Share Repurchases
- News Corp authorized a new $1 billion stock repurchase program on July 15, 2025, which increased the total authorization to $1.3 billion, including the $303 million remaining from an existing program authorized in September 2021.
- In fiscal year 2026, News Corp bought back $643 million in stock, which was more than four times the pace of the prior year.
- As of October 14, 2026, approximately $530.3 million worth of Class A and Class B shares had been repurchased under the 2025 Repurchase Program.
Outbound Investments
- News Corp completed the sale of Foxtel Group to DAZN in fiscal year 2025, achieving an enterprise value of A$3.4 billion, and retained a minority equity stake in DAZN.
Capital Expenditures
- Capital expenditures in fiscal year 2026 held nearly flat compared to the prior year, with a $19 million increase partially offsetting higher free cash flow.
- News Corp anticipates approximately $450 million in total annual capital expenditure for fiscal year 2027, which includes capitalized software development costs.
- The company expects strong growth in free cash flow generation for the full fiscal year 2026, despite moderately higher capital expenditures.
Peer Outperformance in Publishing
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| NWSA | News Corp | 4.5% | 23.4x | 0.8% | 31.1% | 18.8% | — |
| NYT | New York Times | 8.0% | 28.7x | 16.7% | 72.7% | 59.8% | +41pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -5.2% | 22.7% | 52.8% | ECHO 250% · TMUS 53% |
| Publishing ← | 6 | 24.1% | 18.8% | 11.1% | NYT 60% · NWSA 19% · WLY 12% |
| Integrated Telecommunication Services | 21 | -12.4% | 25.8% | -17.7% | GSAT 252% · AD 83% · TDS 80% |
| Movies & Entertainment | 23 | 23.6% | 59.6% | -26.8% | IMAX 135% · FWONA 103% · CNK 99% |
| Broadcasting | 14 | -7.1% | -20.6% | -66.9% | FOXA 76% · NXST 45% · SIRI -40% |
| Interactive Media & Services | 33 | -39.1% | -40.1% | -70.8% | GOOGL 103% · META 94% · CARG -10% |
| Interactive Home Entertainment | 8 | -43.2% | -60.1% | -72.1% | TTWO 25% · RBLX -46% · PINS -57% |
| Alternative Carriers | 4 | -46.2% | 11.8% | -73.9% | IRDM 19% · LUMN -66% |
| Advertising | 18 | -32.0% | -8.5% | -74.0% | APP 252% · OMC 53% · MGNI 27% |
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 49.05 |
| Mkt Cap | 13.4 |
| Rev LTM | 5,956 |
| Op Inc LTM | 853 |
| FCF LTM | 656 |
| FCF 3Y Avg | 585 |
| CFO LTM | 896 |
| CFO 3Y Avg | 796 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.2% |
| Rev Chg 3Y Avg | 7.5% |
| Rev Chg Q | 10.1% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Inc Chg LTM | 20.9% |
| Op Inc Chg 3Y Avg | 18.5% |
| Op Mgn LTM | 14.9% |
| Op Mgn 3Y Avg | 13.4% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 16.2% |
| CFO/Rev 3Y Avg | 16.3% |
| FCF/Rev LTM | 11.0% |
| FCF/Rev 3Y Avg | 11.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 13.4 |
| P/S | 2.8 |
| P/Op Inc | 16.8 |
| P/EBIT | 15.8 |
| P/E | 26.1 |
| P/CFO | 16.0 |
| Total Yield | 5.1% |
| Dividend Yield | 1.1% |
| FCF Yield 3Y Avg | 3.8% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.2% |
| 3M Rtn | 3.3% |
| 6M Rtn | -1.9% |
| 12M Rtn | -8.7% |
| 3Y Rtn | 9.6% |
| 1M Excs Rtn | 8.1% |
| 3M Excs Rtn | 2.0% |
| 6M Excs Rtn | -2.9% |
| 12M Excs Rtn | -18.3% |
| 3Y Excs Rtn | -64.3% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dow Jones | 2,497 | 2,331 | 2,231 | 2,153 | 2,004 |
| Book Publishing | 2,288 | 2,149 | 2,093 | 1,979 | 2,191 |
| News Media | 2,227 | 2,170 | 2,270 | 2,341 | 2,423 |
| Digital Real Estate Services | 2,016 | 1,802 | 1,658 | 1,539 | 1,741 |
| Other | 0 | 0 | 0 | 0 | 0 |
| Subscription Video Services | 2,026 | ||||
| Total | 9,028 | 8,452 | 8,252 | 8,012 | 10,385 |
| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Digital Real Estate Services | 741 | 601 | 508 | 457 | 574 |
| Dow Jones | 663 | 588 | 542 | 494 | 433 |
| Book Publishing | 287 | 296 | 269 | 167 | 306 |
| News Media | 139 | 153 | 133 | 173 | 217 |
| Other | -203 | -223 | -211 | -202 | -221 |
| Depreciation and amortization | -485 | -459 | -440 | -415 | -688 |
| Subscription Video Services | 360 | ||||
| Total | 1,142 | 956 | 801 | 674 | 981 |
| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dow Jones | 4,159 | 4,134 | 4,139 | 4,305 | 4,368 |
| Digital Real Estate Services | 3,515 | 3,202 | 3,020 | 2,942 | 2,989 |
| Book Publishing | 2,743 | 2,767 | 2,647 | 2,629 | 2,651 |
| Other | 2,081 | 2,283 | 1,858 | 1,783 | 1,528 |
| News Media | 2,044 | 2,102 | 2,003 | 2,023 | 2,115 |
| Investments | 1,002 | 1,016 | 430 | 427 | 488 |
| Subscription Video Services | 2,587 | 2,812 | 3,082 | ||
| Total | 15,544 | 15,504 | 16,684 | 16,921 | 17,221 |
Price Behavior
| Market Price | $26.83 | |
| Market Cap ($ Bil) | 14.5 | |
| First Trading Date | 06/19/2013 | |
| Distance from 52W High | -13.7% | |
| 50 Days | 200 Days | |
| DMA Price | $29.31 | $26.87 |
| DMA Trend | indeterminate | up |
| Distance from DMA | -8.5% | -0.1% |
| 3M | 1YR | |
| Volatility | 35.0% | 28.7% |
| Downside Capture | 64.86 | 37.27 |
| Upside Capture | 32.70 | 32.98 |
| Correlation (S&P 500) | 54.1% | 23.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.07 | 0.14 | 0.23 | -0.16 | 0.19 | 0.68 |
| Up Beta | -1.48 | -0.12 | 0.58 | -0.53 | -0.37 | 0.67 |
| Down Beta | 0.67 | 0.16 | 0.27 | 0.16 | 0.54 | 0.71 |
| Up Capture | -17% | 0% | 26% | -2% | 22% | 34% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 12 | 20 | 36 | 64 | 132 | 387 |
| Down Capture | -41% | 40% | -6% | -43% | 26% | 86% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 10 | 23 | 28 | 61 | 117 | 356 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NWSA | |
|---|---|---|---|---|
| NWSA | 0.9% | 28.7% | 0.02 | - |
| Sector ETF (XLC) | -3.3% | 16.8% | -0.38 | 42.3% |
| Equity (SPY) | 12.5% | 13.7% | 0.60 | 23.8% |
| Gold (GLD) | -3.5% | 28.8% | -0.13 | -4.7% |
| Commodities (DBC) | 33.0% | 21.3% | 1.24 | -18.4% |
| Real Estate (VNQ) | 11.7% | 14.2% | 0.53 | 29.3% |
| Bitcoin (BTCUSD) | -30.9% | 43.5% | -0.73 | 11.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NWSA | |
|---|---|---|---|---|
| NWSA | 3.7% | 28.1% | 0.13 | - |
| Sector ETF (XLC) | 7.2% | 21.1% | 0.25 | 59.6% |
| Equity (SPY) | 11.8% | 17.3% | 0.51 | 56.2% |
| Gold (GLD) | 17.1% | 19.2% | 0.72 | 3.9% |
| Commodities (DBC) | 7.9% | 19.6% | 0.29 | 5.0% |
| Real Estate (VNQ) | 1.3% | 18.9% | -0.04 | 48.8% |
| Bitcoin (BTCUSD) | 3.1% | 51.5% | 0.24 | 24.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NWSA | |
|---|---|---|---|---|
| NWSA | 9.6% | 29.7% | 0.36 | - |
| Sector ETF (XLC) | 8.9% | 22.1% | 0.44 | 57.7% |
| Equity (SPY) | 15.5% | 18.0% | 0.73 | 58.7% |
| Gold (GLD) | 11.5% | 16.6% | 0.57 | 1.5% |
| Commodities (DBC) | 7.4% | 18.2% | 0.33 | 16.9% |
| Real Estate (VNQ) | 6.1% | 20.7% | 0.25 | 49.2% |
| Bitcoin (BTCUSD) | 58.6% | 66.3% | 0.99 | 16.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 11/12/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/4/2026 | -13.4% | -12.2% | |
| 8/5/2026 | 2.1% | -1.3% | 6.5% |
| 5/7/2026 | -0.1% | -2.9% | 0.1% |
| 2/5/2026 | -7.1% | -7.5% | 1.4% |
| 11/6/2025 | 6.5% | 4.7% | 3.5% |
| 8/5/2025 | 0.5% | -1.6% | 0.0% |
| 5/8/2025 | -1.5% | -1.2% | -2.5% |
| 2/5/2025 | -1.0% | 2.0% | -2.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 14 | 14 |
| # Negative | 10 | 11 | 10 |
| Median Positive | 4.5% | 5.5% | 4.9% |
| Median Negative | -3.6% | -2.9% | -4.9% |
| Max Positive | 8.5% | 17.1% | 32.1% |
| Max Negative | -13.4% | -12.2% | -24.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/4/2026 | -13.4% | -12.2% | |
| 8/5/2026 | 2.1% | -1.3% | 6.5% |
| 5/7/2026 | -0.1% | -2.9% | 0.1% |
| 2/5/2026 | -7.1% | -7.5% | 1.4% |
| 11/6/2025 | 6.5% | 4.7% | 3.5% |
| 8/5/2025 | 0.5% | -1.6% | 0.0% |
| 5/8/2025 | -1.5% | -1.2% | -2.5% |
| 2/5/2025 | -1.0% | 2.0% | -2.8% |
| 11/7/2024 | 1.2% | -0.2% | 0.8% |
| 8/8/2024 | 3.6% | 3.0% | -0.7% |
| 5/8/2024 | 2.7% | 7.7% | 12.6% |
| 2/7/2024 | 6.5% | 7.2% | 8.5% |
| 11/9/2023 | -1.7% | -1.0% | 3.7% |
| 8/10/2023 | 4.6% | 2.3% | 3.6% |
| 5/11/2023 | 8.5% | 12.1% | 13.5% |
| 2/9/2023 | -9.4% | -9.2% | -24.2% |
| 11/8/2022 | -5.4% | 6.2% | 6.2% |
| 8/8/2022 | 5.2% | 6.4% | -3.2% |
| 5/5/2022 | -13.3% | -11.9% | -11.9% |
| 2/3/2022 | 0.2% | 3.3% | -9.7% |
| 11/4/2021 | 3.8% | 0.6% | -6.7% |
| 8/5/2021 | -0.5% | -3.5% | -9.2% |
| 5/6/2021 | 5.5% | 1.0% | -0.6% |
| 2/4/2021 | 4.5% | 13.5% | 19.4% |
| 11/5/2020 | 8.3% | 17.1% | 32.1% |
| SUMMARY STATS | |||
| # Positive | 15 | 14 | 14 |
| # Negative | 10 | 11 | 10 |
| Median Positive | 4.5% | 5.5% | 4.9% |
| Median Negative | -3.6% | -2.9% | -4.9% |
| Max Positive | 8.5% | 17.1% | 32.1% |
| Max Negative | -13.4% | -12.2% | -24.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/05/2026 | 10-Q |
| 06/30/2026 | 08/07/2026 | 10-K |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/06/2026 | 10-Q |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-K |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/06/2025 | 10-Q |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-K |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/15/2023 | 10-K |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 02/10/2023 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/05/2026 | 10-Q |
| 06/30/2026 | 08/07/2026 | 10-K |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/06/2026 | 10-Q |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-K |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/06/2025 | 10-Q |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-K |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/15/2023 | 10-K |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 02/10/2023 | 10-Q |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/12/2022 | 10-K |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 02/04/2022 | 10-Q |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/10/2021 | 10-K |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/05/2021 | 10-Q |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/11/2020 | 10-K |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/07/2020 | 10-Q |
Insider Activity
Updated 10/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Degrazio, Marygrace | Chief Accounting Officer | Direct | Sell | 8182026 | 28.76 | 18,303 | 526,394 | 747,904 | Form |
| 2 | Delany, Julian | Chief Technology Officer | Direct | Sell | 8182026 | 28.72 | 1,747 | Form | ||
| 3 | Allen, Ruth | Chief Human Resources Officer | Direct | Sell | 8182026 | 28.99 | 21,521 | Form | ||
| 4 | Pitofsky, David B | General Counsel | Direct | Sell | 8182026 | 28.76 | 51,423 | 1,478,925 | 2,395,449 | Form |
| 5 | Chandrashekar, Lavanya | Chief Financial Officer | Direct | Sell | 8182026 | 28.66 | 17,785 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Degrazio, Marygrace | Chief Accounting Officer | Direct | Sell | 8182026 | 28.76 | 18,303 | 526,394 | 747,904 | Form |
| 2 | Delany, Julian | Chief Technology Officer | Direct | Sell | 8182026 | 28.72 | 1,747 | Form | ||
| 3 | Allen, Ruth | Chief Human Resources Officer | Direct | Sell | 8182026 | 28.99 | 21,521 | Form | ||
| 4 | Pitofsky, David B | General Counsel | Direct | Sell | 8182026 | 28.76 | 51,423 | 1,478,925 | 2,395,449 | Form |
| 5 | Chandrashekar, Lavanya | Chief Financial Officer | Direct | Sell | 8182026 | 28.66 | 17,785 | Form |
Investor Activity (13F)
Updated Nov 12, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Northern Right Capital Management, L.P. | $38.9 Mil | 13.8% | 25 | ADD +15.2% | 13F |
| 59 North Capital Management, LP | $354.0 Mil | 10.6% | 17 | TRIM -7.4% | 13F |
| Metropolis Capital Ltd | $249.8 Mil | 8.4% | 16 | ADD +25.5% | 13F |
| Independent Franchise Partners LLP | $1.0 Bil | 7.2% | 26 | Hold | 13F |
| L1 Capital Pty Ltd | $120.7 Mil | 4.7% | 22 | Hold | 13F |
| Starboard Value LP | $213.6 Mil | 4.7% | 23 | TRIM -20.7% | 13F |
| Deltroit Asset Management (UK) LLP | $11.6 Mil | 2.0% | 39 | TRIM -7.6% | 13F |
| Irenic Capital Management LP | $16.9 Mil | 1.5% | 42 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| Rivermont Capital Management LP | $20.2 Mil | 4.8% | 22 | Exited | Dec 31, 2025 | 13F |
| Starboard Value LP | $213.6 Mil | 4.7% | 23 | TRIM -20.7% | Mar 31, 2026 | 13F |
| Deltroit Asset Management (UK) LLP | $11.6 Mil | 2.0% | 39 | TRIM -7.6% | Mar 31, 2026 | 13F |
| 59 North Capital Management, LP | $354.0 Mil | 10.6% | 17 | TRIM -7.4% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Independent Franchise Partners LLP | $1.0 Bil | 7.2% | 26 | Hold | 13F |
| 59 North Capital Management, LP | $354.0 Mil | 10.6% | 17 | TRIM -7.4% | 13F |
| Metropolis Capital Ltd | $249.8 Mil | 8.4% | 16 | ADD +25.5% | 13F |
| Starboard Value LP | $213.6 Mil | 4.7% | 23 | TRIM -20.7% | 13F |
| L1 Capital Pty Ltd | $120.7 Mil | 4.7% | 22 | Hold | 13F |
| Northern Right Capital Management, L.P. | $38.9 Mil | 13.8% | 25 | ADD +15.2% | 13F |
| Irenic Capital Management LP | $16.9 Mil | 1.5% | 42 | Hold | 13F |
| Deltroit Asset Management (UK) LLP | $11.6 Mil | 2.0% | 39 | TRIM -7.6% | 13F |
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Publishing Resources |
| Publishers Weekly |
| Editor & Publisher |
| The Bookseller |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.