Debt to Equity
since 2005
Calculation
Twenty-First Century Fox Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Total borrowings1 | ÷ | Total Twenty-First Century Fox, Inc. stockholders’ equity1 | |
|---|---|---|---|---|---|
| Jun 30, 2018 | 1.00 | = | 19,523) | ÷ | 19,564) |
| Jun 30, 2017 | 1.27 | = | 19,913) | ÷ | 15,722) |
| Jun 30, 2016 | 1.44 | = | 19,725) | ÷ | 13,661) |
| Jun 30, 2015 | 1.11 | = | 19,039) | ÷ | 17,220) |
| Jun 30, 2014 | 1.09 | = | 19,058) | ÷ | 17,418) |
| Jun 30, 2013 | 0.97 | = | 16,458) | ÷ | 16,998) |
| Jun 30, 2012 | 0.63 | = | 15,455) | ÷ | 24,684) |
| Jun 30, 2011 | 0.53 | = | 15,495) | ÷ | 29,506) |
| Jun 30, 2010 | 0.53 | = | 13,320) | ÷ | 25,113) |
| Jun 30, 2009 | 0.62 | = | 14,289) | ÷ | 23,224) |
| Jun 30, 2008 | 0.47 | = | 13,511) | ÷ | 28,623) |
| Jun 30, 2007 | 0.38 | = | 12,502) | ÷ | 32,922) |
| Jun 30, 2006 | 0.38 | = | 11,427) | ÷ | 29,874) |
| Jun 30, 2005 | 0.37 | = | 10,999) | ÷ | 29,377) |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
1 US$ in millions
Between 2005 and 2018, the capital structure underwent a substantial transformation characterized by a steady increase in total debt and a simultaneous overall reduction in shareholders' equity. This divergence resulted in a significant escalation of financial leverage over the thirteen-year period.
- Total Borrowings Trends
- Total borrowings exhibited a consistent upward trajectory, rising from 10,999 million US dollars in 2005 to 19,523 million US dollars in 2018. A period of accelerated borrowing is observed between 2012 and 2014, where total borrowings increased from 15,455 million US dollars to 19,058 million US dollars, maintaining a plateau above 19,000 million US dollars for the remainder of the period.
- Stockholders' Equity Performance
- Equity levels demonstrated a general downward trend marked by significant volatility. After peaking at 32,922 million US dollars in 2007, equity experienced a prolonged decline, reaching a minimum of 13,661 million US dollars in 2016. A recovery phase began thereafter, with equity increasing to 19,564 million US dollars by June 30, 2018.
- Debt to Equity Ratio Dynamics
- The debt to equity ratio progressed through three distinct phases. An initial period of stability was observed from 2005 to 2007, with the ratio remaining between 0.37 and 0.38. A phase of gradual increase followed from 2008 to 2012, moving from 0.47 to 0.63. The most aggressive expansion of leverage occurred between 2013 and 2016, where the ratio surged from 0.97 to a peak of 1.44. This peak was followed by a downward correction, returning to 1.00 by 2018.
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Comparison to Competitors
Twenty-First Century Fox Inc., debt to equity, long-term trends, comparison to competitors
| Twenty-First Century Fox Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Jun 30, 2018 | 1.00 | 0.02 | 1.56 | 0.00 | 1.98 | 0.43 |
| Jun 30, 2017 | 1.27 | 0.03 | 0.94 | 0.00 | 1.81 | 0.61 |
| Jun 30, 2016 | 1.44 | 0.03 | 1.13 | 0.00 | 1.26 | 0.47 |
| Jun 30, 2015 | 1.11 | 0.04 | 1.01 | 0.00 | 1.07 | 0.39 |
| Jun 30, 2014 | 1.09 | 0.05 | 0.92 | 0.01 | 0.48 | 0.33 |
| Jun 30, 2013 | 0.97 | 0.06 | 0.94 | 0.03 | 0.37 | 0.31 |
| Jun 30, 2012 | 0.63 | 0.08 | 0.82 | 0.20 | 0.54 | 0.36 |
| Jun 30, 2011 | 0.53 | 0.07 | 0.83 | — | 0.62 | 0.37 |
| Jun 30, 2010 | 0.53 | 0.07 | 0.71 | — | 0.69 | 0.33 |
| Jun 30, 2009 | 0.62 | 0.00 | 0.68 | — | 1.00 | 0.38 |
| Jun 30, 2008 | 0.47 | 0.00 | 0.80 | — | 0.00 | 0.45 |
| Jun 30, 2007 | 0.38 | 0.00 | 0.76 | — | 0.00 | 0.49 |
| Jun 30, 2006 | 0.38 | 0.00 | 0.70 | — | 0.00 | 0.43 |
| Jun 30, 2005 | 0.37 | 0.00 | 0.58 | — | 0.00 | 0.48 |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
Comparison to Sector (Media & Entertainment)
Twenty-First Century Fox Inc., debt to equity, long-term trends, comparison to sector (media & entertainment)
| Twenty-First Century Fox Inc. | Media & Entertainment | |
|---|---|---|
| Jun 30, 2018 | 1.00 | 0.38 |
| Jun 30, 2017 | 1.27 | 0.29 |
| Jun 30, 2016 | 1.44 | 0.30 |
| Jun 30, 2015 | 1.11 | 0.29 |
| Jun 30, 2014 | 1.09 | 0.29 |
| Jun 30, 2013 | 0.97 | 0.34 |
| Jun 30, 2012 | 0.63 | 0.36 |
| Jun 30, 2011 | 0.53 | 0.40 |
| Jun 30, 2010 | 0.53 | 0.37 |
| Jun 30, 2009 | 0.62 | 0.37 |
| Jun 30, 2008 | 0.47 | 0.46 |
| Jun 30, 2007 | 0.38 | 0.49 |
| Jun 30, 2006 | 0.38 | 0.47 |
| Jun 30, 2005 | 0.37 | 0.47 |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
Comparison to Industry (Communication Services)
Twenty-First Century Fox Inc., debt to equity, long-term trends, comparison to industry (communication services)
| Twenty-First Century Fox Inc. | Communication Services | |
|---|---|---|
| Jun 30, 2018 | 1.00 | 0.71 |
| Jun 30, 2017 | 1.27 | 0.75 |
| Jun 30, 2016 | 1.44 | 0.75 |
| Jun 30, 2015 | 1.11 | 0.81 |
| Jun 30, 2014 | 1.09 | 0.81 |
| Jun 30, 2013 | 0.97 | 0.75 |
| Jun 30, 2012 | 0.63 | 0.62 |
| Jun 30, 2011 | 0.53 | 0.62 |
| Jun 30, 2010 | 0.53 | 0.60 |
| Jun 30, 2009 | 0.62 | 0.69 |
| Jun 30, 2008 | 0.47 | 0.73 |
| Jun 30, 2007 | 0.38 | 0.54 |
| Jun 30, 2006 | 0.38 | 0.54 |
| Jun 30, 2005 | 0.37 | 0.62 |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).