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News Corp Class A NWSA

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Good News on All Fronts

Brian Han Director

Analyst Note

| Brian Han |

We lift our fair value estimate on News Corporation by 10% to USD 19.00 per share, or AUD 25.70, at current exchange rates. Quality of the group’s 53% rise in fiscal 2022 first-quarter adjusted EBITDA to USD 412 million is difficult to ignore, with every segment posting stellar growth despite cycling a demanding 21% rise a year ago. The record quarterly earnings exceeded the then USD 360 million record achieved in the prepandemic first quarter of fiscal 2019, even after adjusting for the contributions from recently acquired IBD and HMH (USD 6 million each).

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Company Profile

Business Description

News Corporation is a media conglomerate with large presence in the U.S, the U.K., and Australia. Key brands include The Wall Street Journal, Herald Sun, and The Times. The company also has a strong presence in the Australian pay-TV market through Fox Sports and Foxtel (both 65%-owned), while its 62%-owned REA Group is the dominant real estate classified business in Australia. In addition, it owns HarperCollins, one of the largest book publishers globally, and also has a substantial digital property advertising business (Move) in the U.S.

Contact
1211 Avenue of the Americas
New York, NY, 10036
T +1 212 416-3400
Sector Communication Services
Industry Broadcasting
Most Recent Earnings Sep 30, 2021
Fiscal Year End Jun 30, 2022
Stock Type Slow Growth
Employees 24,000

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