FOX stock forecast 2027–2029
MyStockButler's October 2026 analysis: FOX's weighted forecast is $55.54 in October 2027 and $61.87 in October 2029. It hinges on rate increases partly offsetting subscriber losses, digital monetization and the Roku purchase.
Where could FOX's shares go?
The weighted price is $55.54 in October 2027, a return of -16% including dividends. It is $57.78 in October 2028, a return of -12%. By October 2029, it reaches $61.87, still a -5% return including dividends. The range at the final date is $30.04 to $104.27. Today’s price is $67.00, so the distribution of outcomes matters as much as the central estimate.
| Case | Probability | October 2027 | October 2028 | October 2029 |
|---|---|---|---|---|
| Bear | 30 % | 40.39 (-39 %) | 34.75 (-46 %) | 30.04 (-53 %) |
| Base | 50 % | 58.20 (-12 %) | 59.84 (-9 %) | 64.02 (-2 %) |
| Bull | 20 % | 71.60 (+8 %) | 87.21 (+32 %) | 104.27 (+59 %) |
| Weighted | 100 % | 55.54 (-16 %) | 57.78 (-12 %) | 61.87 (-5 %) |
What this means. The weighted row is the probability-based average of the bear, base, and bull cases, not a guaranteed future share price.
What has to go right for FOX, and what could go wrong?
Earnings provide the main operating judgment. The base case rises from $2,460 million in October 2027 to $2,604 million in October 2029. It assumes modest revenue growth, rate increases partly offsetting subscriber losses, and gradual digital monetization. FOX’s distribution revenue rose 4% in fiscal 2026, advertising rose 7%, and Tubi revenue grew 35% in the latest quarter.
The bear case falls from $2,030 million to $1,814 million as subscriber losses, normalized advertising and Roku costs pressure margins. The bull case rises from $2,603 million to $3,147 million if Roku savings, profitable streaming and stronger advertising monetization arrive together. FOX has not supplied formal company-wide earnings guidance, so these remain scenario estimates.
How much cash does FOX really make?
Free cash flow means operating cash flow less capital spending. It fell from $2,993 million in fiscal 2025 to $1,468 million in fiscal 2026. Capital spending covers equipment, technology and facilities, but programming payments generally already appear in operating cash flow. Physical capital spending therefore understates the total cash needed to maintain the service.
| Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | |
|---|---|---|---|---|---|
| Cash from operations | 1,970 | 3,324 | 1,840 | 1,800 | 1,884 |
| − Capital spending | 502 | 331 | 345 | 357 | 307 |
| = Free cash flow | 1,468 | 2,993 | 1,495 | 1,443 | 1,577 |
| − Stock pay | 132 | 135 | 90 | 74 | 102 |
| = Real free cash flow | 1,336 | 2,858 | 1,405 | 1,369 | 1,475 |
What this means. Stock pay is subtracted even though no cash leaves today because it gives employees part ownership and reduces what shareholders own.
What does an investor pay for FOX today?
At $67.00 on October 20, 2026, a buyer of Fox Corporation Class A shares buys a claim on Fox News, Fox Sports, and Tubi. The equity value is $28,252.13 million, while enterprise value is $30,653.13 million. Equity value belongs to shareholders; enterprise value adds debt and subtracts cash to value the operating business. A house with a mortgage makes the distinction intuitive: the house can be valuable while the owner’s stake is smaller because the bank has a claim.
| Today (Oct 20, 2026) | |
|---|---|
| Share price | 67.00 |
| Market value (calculated) | 28,252.13 |
| Enterprise value (calculated) | 30,653.13 |
| P/E, last 12 months (calculated) | 17.5x |
| Free cash flow yield (calculated) | 5.2% |
| Real free cash flow yield (calculated) | 4.7% |