Latest Ratios: P/E Ratio 37.6x · EV/EBITDA 10.8x · ROE 5.0%. (2011–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $16.7B | $19.6B | $16.3B | $11.4B | $9.4B | $14.4B | $7.0B | $8.2B | $9.2B | $8.2B | $6.8B |
| Enterprise Value | $17.2B | $20.1B | $17.5B | $13.8B | $11.7B | $15.8B | $8.0B | $8.0B | $9.2B | $6.5B | $5.3B |
| P/E Ratio → | 37.62 | 42.36 | 60.40 | 75.85 | 15.13 | 43.48 | — | 35.79 | — | — | 38.90 |
| P/S Ratio | 1.97 | 2.31 | 1.97 | 1.42 | 0.91 | 1.54 | 0.78 | 0.81 | 1.02 | 1.01 | 0.82 |
| P/B Ratio | 1.85 | 2.08 | 1.81 | 1.28 | 1.03 | 1.58 | 0.84 | 0.80 | 0.88 | 0.74 | 0.58 |
| P/FCF | 22.94 | 26.90 | 21.97 | 19.25 | 11.01 | 17.06 | 20.54 | 23.05 | 23.51 | 34.54 | 9.78 |
| P/OCF | 14.71 | 17.24 | 14.83 | 10.45 | 6.95 | 11.68 | 9.01 | 8.84 | 12.21 | 16.64 | 7.15 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.38 | 2.12 | 1.72 | 1.13 | 1.69 | 0.89 | 0.80 | 1.01 | 0.80 | 0.64 |
| EV / EBITDA | 10.81 | 12.61 | 12.42 | 10.66 | 5.58 | 9.22 | 5.63 | 5.60 | 8.54 | 7.32 | 6.34 |
| EV / EBIT | 12.17 | 21.01 | 22.39 | 20.34 | 11.83 | 26.09 | 21.62 | 19.41 | 15.29 | 14.97 | 15.85 |
| EV / FCF | — | 27.63 | 23.63 | 23.25 | 13.74 | 18.67 | 23.52 | 22.52 | 23.30 | 27.23 | 7.67 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.2% | 56.2% | 54.2% | 51.5% | 51.1% | 48.9% | 45.3% | 37.6% | 40.4% | 38.8% | 36.9% |
| Operating Margin | 16.7% | 16.7% | 14.8% | 13.6% | 16.2% | 13.7% | 11.3% | 7.7% | 6.6% | 5.4% | 4.1% |
| Net Profit Margin | 5.5% | 5.5% | 3.2% | 1.9% | 6.0% | 3.5% | -14.1% | 2.3% | -16.8% | -9.1% | 2.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.0% | 5.0% | 3.0% | 1.6% | 6.8% | 3.8% | -13.6% | 2.2% | -14.0% | -6.4% | 1.5% |
| ROA | 2.9% | 2.9% | 1.6% | 0.9% | 3.7% | 2.1% | -8.5% | 1.4% | -9.8% | -4.9% | 1.2% |
| ROIC | 10.5% | 10.5% | 8.5% | 7.2% | 11.5% | 9.7% | 7.8% | 5.6% | 4.6% | 3.3% | 2.4% |
| ROCE | 10.7% | 10.7% | 8.9% | 8.0% | 12.3% | 10.2% | 8.5% | 6.1% | 4.8% | 3.5% | 2.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.31 | 0.31 | 0.34 | 0.47 | 0.45 | 0.39 | 0.30 | 0.14 | 0.19 | 0.02 | 0.03 |
| Debt / EBITDA | 1.85 | 1.85 | 2.20 | 3.25 | 1.97 | 2.10 | 1.77 | 1.01 | 1.82 | 0.31 | 0.44 |
| Net Debt / Equity | — | 0.06 | 0.14 | 0.27 | 0.26 | 0.15 | 0.12 | -0.02 | -0.01 | -0.16 | -0.12 |
| Net Debt / EBITDA | 0.34 | 0.34 | 0.87 | 1.84 | 1.11 | 0.79 | 0.71 | -0.13 | -0.08 | -1.97 | -1.74 |
| Debt / FCF | — | 0.74 | 1.66 | 4.00 | 2.73 | 1.61 | 2.98 | -0.53 | -0.21 | -7.31 | -2.10 |
| Interest Coverage | 95.60 | 95.60 | 9.20 | 8.07 | 9.46 | 16.38 | 14.88 | 7.00 | 85.57 | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.84 | 1.84 | 1.43 | 1.28 | 1.16 | 1.38 | 1.29 | 1.21 | 1.33 | 1.56 | 1.59 |
| Quick Ratio | 1.72 | 1.72 | 1.34 | 1.18 | 1.07 | 1.30 | 1.16 | 1.11 | 1.22 | 1.47 | 1.50 |
| Cash Ratio | 0.92 | 0.92 | 0.61 | 0.58 | 0.52 | 0.69 | 0.57 | 0.49 | 0.62 | 0.82 | 0.75 |
| Asset Turnover | — | 0.55 | 0.49 | 0.47 | 0.60 | 0.56 | 0.63 | 0.64 | 0.55 | 0.56 | 0.54 |
| Inventory Turnover | 11.32 | 11.32 | 14.22 | 12.50 | 16.32 | 18.89 | 14.16 | 18.06 | 14.29 | 23.93 | 24.00 |
| Days Sales Outstanding | — | 67.45 | 62.81 | 64.92 | 52.79 | 58.43 | 48.74 | 55.94 | 65.20 | 57.22 | 54.10 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.1% | 0.9% | 1.1% | 1.5% | 1.9% | 1.1% | 2.2% | 2.0% | 1.7% | 1.8% | 2.2% |
| Payout Ratio | 39.9% | 39.9% | 64.7% | 116.8% | 28.1% | 49.4% | — | 70.6% | — | — | 82.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.7% | 2.4% | 1.7% | 1.3% | 6.6% | 2.3% | — | 2.8% | — | — | 2.6% |
| FCF Yield | 4.4% | 3.7% | 4.6% | 5.2% | 9.1% | 5.9% | 4.9% | 4.3% | 4.3% | 2.9% | 10.2% |
| Buyback Yield | 0.9% | 0.8% | 0.7% | 2.1% | 1.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% |
| Total Shareholder Yield | 2.0% | 1.7% | 1.8% | 3.7% | 3.8% | 1.1% | 2.2% | 2.0% | 1.7% | 1.8% | 2.8% |
| Shares Outstanding | — | $570M | $574M | $579M | $593M | $593M | $588M | $588M | $583M | $581M | $583M |
Conglomerate discount and complexity
According to current market data, NWS trades at a P/E of 35.47, which appears elevated relative to its own historical averages and suggests that investors are struggling to reconcile the high-growth potential of its digital data assets with the declining profitability of its legacy media operations.
The valuation gap between NWS and pure-play peers like The New York Times suggests that the market applies a conglomerate discount to the company's diverse portfolio. Investors should monitor whether the ongoing monetization of proprietary archives for AI training can catalyze a re-rating of the stock toward the higher multiples commanded by specialized data providers.
Based on reported financial statements, NWS has struggled to generate consistent returns, with ROIC hovering between 1.5% and 3.3% over the last ten quarters, indicating that the company's capital allocation has yet to yield the compounding returns expected of a high-utility information business.
The low ROIC figures suggest that significant capital remains tied up in legacy assets that fail to generate meaningful incremental returns. This trend warrants further investigation into whether management's pivot toward B2B data services can eventually drive a structural improvement in capital efficiency or if the drag from print and broadcast infrastructure will persist.
As reported in recent filings, the company's cash conversion cycle has remained relatively stable, averaging approximately 66 days over the last ten quarters, which suggests that NWS maintains a consistent, albeit not particularly aggressive, approach to managing its receivables and payables across diverse global business segments.
The stability in the cash conversion cycle indicates that the company's operational processes are well-entrenched, though the lack of improvement suggests limited leverage over suppliers or customers. Investors should monitor whether the shift toward recurring B2B subscription revenue can eventually compress this cycle and improve overall working capital efficiency.
Based on an analysis of the company's reporting structure, the P/E ratio is a frequently misapplied metric for NWS because it fails to account for the significant non-controlling interests and non-cash impairment charges that distort the net income figure used in the denominator.
Using P/E to value NWS obscures the underlying cash-generating capacity of its high-margin segments like Dow Jones and REA Group. Analysts should instead prioritize EV/EBITDA or a sum-of-the-parts valuation to better capture the true economic value of the company's disparate and differently-valued business units.
Includes 30+ ratios · 15 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying NWS stock.
News Corporation's current P/E ratio is 37.6x. The historical average is 41.4x. This places it at the 33th percentile of its historical range.
News Corporation's current EV/EBITDA is 10.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.6x.
News Corporation's return on equity (ROE) is 5.0%. The historical average is -1.2%.
Based on historical data, News Corporation is trading at a P/E of 37.6x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
News Corporation's current dividend yield is 1.07% with a payout ratio of 39.9%.
News Corporation has 56.2% gross margin and 16.7% operating margin. Operating margin between 10-20% is typical for established companies.
News Corporation's Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.