Grade: C — One Red Flag, One Watch Item, Strong Cash Generation
Framework: Tang Chao screening + Schilit *Financial Shenanigans* + Beneish M-Score
Data: SEC EDGAR 10-K (filed August 6, 2025) + Yahoo Finance
Auditor: Ernst & Young LLP — Unqualified opinion
Note: FOXA (Class A voting shares) and FOX (Class B non-voting shares) represent the same company — Fox Corporation. The financial data, screening results, and analysis are identical.
One-line verdict: Fox Corporation should not be flagged for elimination. FOXA is the Class A common stock of Fox Corporation, carrying voting rights, while FOX is the Class B non-voting stock. Both share classes represent ownership in the same entity with identical economic interests and identical financial statements. The full analysis is in the [FOX report](/reports/en/FOX) — the key findings are summarized below.
| Metric | Result |
|---|---|
| Red Flags | **1** (goodwill + intangibles 55% of equity) |
| Watch Items | **1** (cash covers 72% of debt) |
| Checks Completed | **14/18** |
| Beneish M-Score | **N/A** (insufficient data) |
| Altman Z-Score | **4.36** (safe zone) |
| F-Score Probability | **0.14%** (very low manipulation risk) |
| Report Period | FY2025 (ended June 30, 2025) |
Key Findings (Same as FOX)
Fox Corporation filed a single 10-K covering both FOXA and FOX. The screening engine produces identical results for both tickers because they share the same balance sheet, income statement, and cash flow statement.
Financial highlights:
The sole red flag — goodwill and intangibles at 55% of equity ($6.6B on $12.1B equity) — is structural for a media company whose assets are brands (FOX News, FOX Sports) and content rights rather than physical infrastructure.
Share class distinction: FOXA Class A shares carry one vote per share. FOX Class B shares carry no voting rights. The Murdoch family controls Fox Corporation through Class B shares. The economic rights (dividends, earnings, liquidation proceeds) are identical between FOXA and FOX. The 10-K discloses approximately 210.8 million Class A shares outstanding as of June 30, 2025.
The 18-Point Screening Summary
| Category | Result |
|---|---|
| A. Revenue Quality | All 3 checks PASS |
| B. Expense Quality | 2 PASS, 2 N/A |
| C. Cash Flow Quality | 3 PASS, 1 WATCH (cash/debt 72%) |
| D. Balance Sheet | 1 **FAIL** (GW+intangibles 55% equity), 1 PASS, 1 N/A |
| E. Acquisition Risk | Both PASS |
| F. Manipulation Detection | N/A |
For the complete check-by-check analysis, critical audit matters, risk factors, and segment breakdowns, see the [FOX report](/reports/en/FOX).
Summary
Grade: C. Should not be flagged for elimination. Identical analysis to FOX — same company, same 10-K filing, same financial position. The only difference is the voting rights structure of the share class.
**Disclaimer**: This report applies a forensic screening framework to public financial data. This is NOT investment advice.
Sources: Fox Corporation Annual Report on Form 10-K for the fiscal year ended June 30, 2025, filed August 6, 2025 (SEC EDGAR). Financial data cross-referenced with Yahoo Finance.