Fox Corporation (Class A) management check
FOXA / FOX · Communication Services · Broadcasting · CEO Lachlan K Murdoch
Filings as of
6 good · 1 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2022 grew to $143, against $76 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.81 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
1.8% of net income$31.0m of reported pay in fiscal 2026, against $1.7bn of net income.
- Good
Do they own the stock?
Insiders are buyingThe CEO holds 1,401,865 shares, directly or through trusts (unvested awards not counted): about 3.1 years of pay. 1 insider bought $10.3m on the open market in the last six months, with their own money, near the lows. Sales: $10.3m.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -6.8% a year over the last three fiscal years. Stock-based pay was 0.8% of revenue in the latest year.
- Good
Is leadership stable?
5 leadership filings in 3 yearsCEO in the pay table: Mr. L.K. Murdoch. 5 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Communication Services.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 100 | 27 | |
| Pay for performance | 91 | 76 | |
| CEO cost | 28 | 72 | |
| Skin in the game | 79 | 75 | |
| Dilution | 100 | 65 | |
| Stable leadership | 100 | 93 | |
| Clean books | 100 | 100 |
Closest peers
Nearest in rank in Communication Services, by management score. Fox Corporation (Class A) is 3rd of 18 in its sector.
Pay versus performance
From the proxy statement filed September 17, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2026 | Mr. L.K. Murdoch | $31.0m | $27.0m | $12.8m | $143 | $76 | $1.7bn |
| 2025 | — | $33.0m | $66.3m | $12.0m | $156 | $111 | $2.3bn |
| 2024 | — | $23.8m | $19.3m | $15.6m | $95 | $74 | $1.5bn |
| 2023 | — | $21.8m | $22.9m | $12.8m | $93 | $66 | $1.2bn |
| 2022 | — | $21.7m | $17.4m | $11.5m | $85 | $57 | $1.2bn |
The board says pay is tied most to Adjusted EBITDA. Its other key measures: Adjusted FCF, Adjusted EPS, Relative TSR, Absolute Share Price.
Insiders and the CEO's stake
Lachlan K Murdoch (Executive Chair, CEO) held 1,401,865 shares directly after their latest Form 4 on Sep 15, 2026, roughly $96.1m at that filing's price.
1 insider bought $10.3m on the open market in the last six months, with their own money, near the lows. Sales: $10.3m.
- BoughtLachlan K MurdochExecutive Chair, CEO$10.3mSep 15, 2026
- SoldLachlan K MurdochExecutive Chair, CEO$10.3mSep 15, 2026
Leadership and governance on file
- Oct 20, 2026Leadership change8-K 5.02
- Jun 11, 2026Leadership change8-K 5.02
- Feb 10, 2025Leadership change8-K 5.02
- Nov 17, 2023Leadership change8-K 5.02
- Nov 8, 2023Leadership change8-K 5.02
- Sep 22, 2023Leadership change8-K 5.02
- Aug 11, 2023Leadership change8-K 5.02
- Nov 10, 2021Leadership change8-K 5.02
Latest shareholder vote results: Oct 14, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $7.5bn returned to owners in buybacks and dividends, 121% of net income, and $548.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $12.9bn | $14.0bn | $14.9bn | $14.0bn | $16.3bn |
| Net income | — | $1.2bn | $1.2bn | $1.5bn | $2.3bn |
| Stock-based pay | $147.0m | $102.0m | $74.0m | $90.0m | $135.0m |
| Buybacks | $1.0bn | $1.0bn | $2.0bn | $1.0bn | $1.0bn |
| Dividends | $330.0m | $307.0m | $299.0m | $281.0m | $277.0m |
| Diluted shares | 595m | 570m | 531m | 480m | 461m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.