News Corporation (Class A)

NWSA
Financial Analysis · Updated May 18, 2026 · Coverage 2026-Q2
Latest Q Revenue
$2.2B
Q3 FY2026 · +8.8% YoY
TTM ROIC
6.6%
FY2025 · Net Income (continuing ops) / Invested Capital (Equity + Net Debt) · WACC ~8.5% · Moat spread +-1.9pp
Margin Profile
Operating 9.8%
FY2025
Net Debt
$463M
· FY2025

Business Overview

ticker: NWSA step: 01 generated: 2026-05-13 source: quick-research

News Corporation Class A (NWSA) — Business Overview

Note on Share Classes

NWSA (Class A) and NWS (Class B) are both S&P 500 constituents representing the same underlying company — News Corporation. The only difference is voting rights: NWSA holders have one vote per share; NWS holders have no voting rights. Both classes trade on NASDAQ. NWSA typically trades at a small premium to NWS due to voting rights.

See /Users/guy/Desktop/Stocks/NWS/Step_01_Overview.md for the full business overview.

Business Description

News Corporation is a global media and information services company controlled by the Murdoch family, operating across five segments: Dow Jones (Wall Street Journal, Barron's, Factiva, Dow Jones Risk & Compliance), Digital Real Estate Services (REA Group ~61% owned, Realtor.com/Move), Book Publishing (HarperCollins), News Media (New York Post, The Times/Sun UK, Sky News Australia), and Other. The company sold its 65% stake in Foxtel (Australian pay-TV) to DAZN in April 2025.

Key Facts

  • Exchange: NASDAQ
  • Share Class: Class A (1 vote per share)
  • Corresponding non-voting class: NWS (Class B)
  • Sector / Industry: Communication Services / Publishing
  • Market Cap (combined NWSA+NWS): ~$14B
  • Murdoch Family Trust controls majority of voting rights via NWSA

Financial Snapshot

ticker: NWSA step: 04 generated: 2026-05-13 source: quick-research

News Corporation Class A (NWSA) — Financial Snapshot

Note on Share Classes

NWSA (Class A) and NWS (Class B) represent the same company. Financials are identical; the only distinction is voting rights. See /Users/guy/Desktop/Stocks/NWS/Step_04_Financial_Snapshot.md for the full financial snapshot.

Summary (same as NWS)

Metric FY2022 FY2023 FY2024 YoY
Revenue ~$10.4B $9.90B $8.90B -10.1%
Total Segment EBITDA $1.67B ~$1.55B ~$1.60B ~+3%
Adj. EPS $1.20 ~$1.10 ~$0.90 n/m

FY2025: Record profits; 11 consecutive quarters of EBITDA growth; FY2026E adj. EPS ~$0.97 (+9%)

Key Ratios

  • P/E: ~27x (FY2025 adj.) | EV/EBITDA: ~10x
  • Digital revenue: 62% of total (FY2025) vs. 32% (FY2018)
  • Dow Jones digital subs: 5.9M (+10% YoY); total 6.4M (+8%)
  • AI licensing: OpenAI ~$250M/5yr + Meta ~$50M/yr
  • Analyst avg. price target: ~$35.57 (Strong Buy, 9 analysts; ~48% upside from ~$24)

Deeper Financial Analysis

The fundamental tier adds 9 additional research dimensions for $NWSA.

Revenue Breakdown
Segment revenue, geographic mix, product-line contribution margins, and cohort dynamics.
Financial Trends
Quarter-over-quarter momentum, leading indicators, and inflection point analysis.
Balance Sheet
Debt structure, liquidity runway, dilution risk, and working capital dynamics.
Capital Allocation
Buyback cadence, M&A appetite, dividend policy, and reinvestment priorities.
Returns on Capital (ROIC)
Multi-year ROIC vs. WACC, marginal returns on reinvestment, sales-to-invested-capital efficiency, and moat spread.
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Markdown: /stocks/nwsa/financials/md · → thesis · → memo