Intrinsic value of News Corp Cl A - NWSA

Previous Close

$15.41

  Intrinsic Value

$5.38

stock screener

  Rating & Target

str. sell

-65%

Previous close

$15.41

 
Intrinsic value

$5.38

 
Up/down potential

-65%

 
Rating

str. sell

We calculate the intrinsic value of NWSA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -1.85
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  8,139
  8,302
  8,493
  8,711
  8,956
  9,228
  9,525
  9,850
  10,201
  10,579
  10,985
  11,420
  11,883
  12,377
  12,901
  13,458
  14,047
  14,672
  15,332
  16,029
  16,766
  17,543
  18,363
  19,226
  20,137
  21,095
  22,105
  23,167
  24,285
  25,461
  26,698
Variable operating expenses, $m
 
  8,040
  8,211
  8,407
  8,626
  8,869
  9,135
  9,426
  9,740
  10,078
  10,442
  10,219
  10,633
  11,075
  11,544
  12,042
  12,570
  13,128
  13,719
  14,343
  15,002
  15,698
  16,431
  17,204
  18,019
  18,877
  19,780
  20,730
  21,731
  22,783
  23,890
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  8,754
  8,040
  8,211
  8,407
  8,626
  8,869
  9,135
  9,426
  9,740
  10,078
  10,442
  10,219
  10,633
  11,075
  11,544
  12,042
  12,570
  13,128
  13,719
  14,343
  15,002
  15,698
  16,431
  17,204
  18,019
  18,877
  19,780
  20,730
  21,731
  22,783
  23,890
Operating income, $m
  -615
  261
  281
  304
  330
  359
  390
  424
  461
  501
  544
  1,201
  1,250
  1,302
  1,357
  1,415
  1,478
  1,543
  1,613
  1,686
  1,763
  1,845
  1,931
  2,022
  2,118
  2,219
  2,325
  2,437
  2,554
  2,678
  2,808
EBITDA, $m
  -166
  1,693
  1,732
  1,776
  1,826
  1,881
  1,942
  2,008
  2,080
  2,157
  2,240
  2,328
  2,423
  2,523
  2,630
  2,744
  2,864
  2,991
  3,126
  3,268
  3,418
  3,577
  3,744
  3,920
  4,105
  4,301
  4,507
  4,723
  4,951
  5,191
  5,443
Interest expense (income), $m
  0
  33
  43
  54
  66
  80
  95
  112
  130
  150
  171
  194
  218
  244
  272
  301
  333
  366
  401
  438
  477
  518
  562
  608
  656
  707
  761
  817
  877
  940
  1,005
Earnings before tax, $m
  -615
  228
  238
  250
  264
  278
  295
  312
  331
  351
  372
  1,007
  1,032
  1,058
  1,085
  1,114
  1,145
  1,178
  1,212
  1,248
  1,287
  1,327
  1,370
  1,415
  1,462
  1,512
  1,564
  1,619
  1,677
  1,738
  1,803
Tax expense, $m
  28
  62
  64
  68
  71
  75
  80
  84
  89
  95
  101
  272
  279
  286
  293
  301
  309
  318
  327
  337
  347
  358
  370
  382
  395
  408
  422
  437
  453
  469
  487
Net income, $m
  -738
  166
  174
  183
  192
  203
  215
  228
  241
  256
  272
  735
  753
  772
  792
  813
  836
  860
  885
  911
  939
  969
  1,000
  1,033
  1,067
  1,104
  1,142
  1,182
  1,225
  1,269
  1,316

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  2,016
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  14,552
  14,851
  15,193
  15,583
  16,022
  16,507
  17,040
  17,621
  18,249
  18,925
  19,652
  20,429
  21,258
  22,141
  23,079
  24,074
  25,129
  26,246
  27,427
  28,675
  29,993
  31,383
  32,849
  34,394
  36,023
  37,738
  39,543
  41,444
  43,444
  45,548
  47,761
Adjusted assets (=assets-cash), $m
  12,536
  14,851
  15,193
  15,583
  16,022
  16,507
  17,040
  17,621
  18,249
  18,925
  19,652
  20,429
  21,258
  22,141
  23,079
  24,074
  25,129
  26,246
  27,427
  28,675
  29,993
  31,383
  32,849
  34,394
  36,023
  37,738
  39,543
  41,444
  43,444
  45,548
  47,761
Revenue / Adjusted assets
  0.649
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
Average production assets, $m
  4,259
  8,194
  8,382
  8,598
  8,840
  9,108
  9,402
  9,722
  10,068
  10,442
  10,843
  11,271
  11,729
  12,216
  12,733
  13,283
  13,865
  14,481
  15,133
  15,821
  16,548
  17,315
  18,124
  18,977
  19,875
  20,821
  21,817
  22,866
  23,969
  25,130
  26,351
Working capital, $m
  1,363
  -224
  -229
  -235
  -242
  -249
  -257
  -266
  -275
  -286
  -297
  -308
  -321
  -334
  -348
  -363
  -379
  -396
  -414
  -433
  -453
  -474
  -496
  -519
  -544
  -570
  -597
  -626
  -656
  -687
  -721
Total debt, $m
  379
  359
  448
  549
  663
  788
  926
  1,077
  1,239
  1,415
  1,603
  1,804
  2,019
  2,247
  2,490
  2,748
  3,022
  3,311
  3,617
  3,940
  4,281
  4,641
  5,021
  5,421
  5,843
  6,287
  6,755
  7,247
  7,765
  8,310
  8,883
Total liabilities, $m
  3,743
  3,846
  3,935
  4,036
  4,150
  4,275
  4,413
  4,564
  4,726
  4,902
  5,090
  5,291
  5,506
  5,734
  5,977
  6,235
  6,509
  6,798
  7,104
  7,427
  7,768
  8,128
  8,508
  8,908
  9,330
  9,774
  10,242
  10,734
  11,252
  11,797
  12,370
Total equity, $m
  10,809
  11,005
  11,258
  11,547
  11,872
  12,232
  12,627
  13,057
  13,522
  14,024
  14,562
  15,138
  15,752
  16,406
  17,101
  17,839
  18,621
  19,448
  20,324
  21,248
  22,225
  23,255
  24,341
  25,486
  26,693
  27,964
  29,302
  30,710
  32,192
  33,751
  35,391
Total liabilities and equity, $m
  14,552
  14,851
  15,193
  15,583
  16,022
  16,507
  17,040
  17,621
  18,248
  18,926
  19,652
  20,429
  21,258
  22,140
  23,078
  24,074
  25,130
  26,246
  27,428
  28,675
  29,993
  31,383
  32,849
  34,394
  36,023
  37,738
  39,544
  41,444
  43,444
  45,548
  47,761
Debt-to-equity ratio
  0.035
  0.030
  0.040
  0.050
  0.060
  0.060
  0.070
  0.080
  0.090
  0.100
  0.110
  0.120
  0.130
  0.140
  0.150
  0.150
  0.160
  0.170
  0.180
  0.190
  0.190
  0.200
  0.210
  0.210
  0.220
  0.220
  0.230
  0.240
  0.240
  0.250
  0.250
Adjusted equity ratio
  0.701
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -738
  166
  174
  183
  192
  203
  215
  228
  241
  256
  272
  735
  753
  772
  792
  813
  836
  860
  885
  911
  939
  969
  1,000
  1,033
  1,067
  1,104
  1,142
  1,182
  1,225
  1,269
  1,316
Depreciation, amort., depletion, $m
  449
  1,431
  1,450
  1,472
  1,496
  1,523
  1,552
  1,584
  1,619
  1,656
  1,696
  1,127
  1,173
  1,222
  1,273
  1,328
  1,386
  1,448
  1,513
  1,582
  1,655
  1,731
  1,812
  1,898
  1,987
  2,082
  2,182
  2,287
  2,397
  2,513
  2,635
Funds from operations, $m
  588
  1,598
  1,624
  1,654
  1,688
  1,726
  1,767
  1,812
  1,860
  1,912
  1,968
  1,862
  1,926
  1,994
  2,065
  2,142
  2,222
  2,308
  2,398
  2,493
  2,594
  2,700
  2,812
  2,930
  3,055
  3,186
  3,324
  3,469
  3,621
  3,782
  3,951
Change in working capital, $m
  94
  -4
  -5
  -6
  -7
  -7
  -8
  -9
  -9
  -10
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -25
  -26
  -27
  -29
  -30
  -32
  -33
Cash from operations, $m
  494
  1,602
  1,629
  1,660
  1,695
  1,733
  1,775
  1,821
  1,870
  1,922
  1,979
  1,874
  1,938
  2,007
  2,080
  2,157
  2,238
  2,325
  2,416
  2,512
  2,614
  2,721
  2,834
  2,954
  3,079
  3,212
  3,351
  3,497
  3,652
  3,814
  3,984
Maintenance CAPEX, $m
  0
  -803
  -819
  -838
  -860
  -884
  -911
  -940
  -972
  -1,007
  -1,044
  -1,084
  -1,127
  -1,173
  -1,222
  -1,273
  -1,328
  -1,386
  -1,448
  -1,513
  -1,582
  -1,655
  -1,731
  -1,812
  -1,898
  -1,987
  -2,082
  -2,182
  -2,287
  -2,397
  -2,513
New CAPEX, $m
  -256
  -159
  -188
  -215
  -242
  -268
  -294
  -320
  -347
  -373
  -401
  -429
  -457
  -487
  -518
  -549
  -582
  -616
  -652
  -688
  -727
  -767
  -809
  -853
  -898
  -946
  -996
  -1,049
  -1,103
  -1,161
  -1,221
Cash from investing activities, $m
  -105
  -962
  -1,007
  -1,053
  -1,102
  -1,152
  -1,205
  -1,260
  -1,319
  -1,380
  -1,445
  -1,513
  -1,584
  -1,660
  -1,740
  -1,822
  -1,910
  -2,002
  -2,100
  -2,201
  -2,309
  -2,422
  -2,540
  -2,665
  -2,796
  -2,933
  -3,078
  -3,231
  -3,390
  -3,558
  -3,734
Free cash flow, $m
  389
  639
  621
  607
  593
  581
  570
  560
  551
  542
  534
  361
  354
  347
  340
  334
  328
  322
  316
  311
  305
  299
  294
  289
  283
  278
  273
  267
  262
  256
  250
Issuance/(repayment) of debt, $m
  -23
  83
  88
  101
  114
  126
  138
  150
  163
  175
  188
  201
  215
  229
  243
  258
  273
  289
  306
  323
  341
  360
  380
  400
  422
  444
  468
  492
  518
  545
  573
Issuance/(repurchase) of shares, $m
  0
  49
  79
  107
  132
  157
  180
  202
  224
  245
  266
  0
  0
  0
  0
  0
  0
  0
  0
  13
  37
  61
  86
  112
  139
  167
  196
  226
  257
  290
  324
Cash from financing (excl. dividends), $m  
  -65
  132
  167
  208
  246
  283
  318
  352
  387
  420
  454
  201
  215
  229
  243
  258
  273
  289
  306
  336
  378
  421
  466
  512
  561
  611
  664
  718
  775
  835
  897
Total cash flow (excl. dividends), $m
  336
  772
  789
  814
  839
  864
  888
  913
  938
  963
  989
  562
  569
  576
  583
  592
  601
  611
  622
  647
  683
  721
  760
  801
  844
  889
  936
  985
  1,037
  1,091
  1,148
Retained Cash Flow (-), $m
  775
  -216
  -253
  -289
  -325
  -360
  -395
  -430
  -465
  -501
  -538
  -576
  -614
  -654
  -695
  -738
  -782
  -828
  -875
  -925
  -976
  -1,030
  -1,086
  -1,145
  -1,207
  -1,271
  -1,338
  -1,408
  -1,482
  -1,559
  -1,640
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  556
  536
  525
  514
  504
  493
  483
  472
  461
  450
  -13
  -46
  -79
  -112
  -146
  -181
  -216
  -253
  -278
  -293
  -309
  -326
  -344
  -362
  -382
  -402
  -423
  -445
  -468
  -492
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  533
  491
  457
  424
  391
  358
  326
  295
  265
  236
  -6
  -20
  -30
  -38
  -43
  -46
  -47
  -47
  -43
  -37
  -32
  -27
  -23
  -18
  -15
  -12
  -9
  -7
  -5
  -4
Current shareholders' claim on cash, %
  100
  99.5
  98.6
  97.5
  96.2
  94.7
  93.0
  91.3
  89.4
  87.5
  85.5
  85.5
  85.5
  85.5
  85.5
  85.5
  85.5
  85.5
  85.5
  85.5
  85.3
  85.0
  84.6
  84.2
  83.6
  83.0
  82.3
  81.5
  80.7
  79.9
  79.0

News Corporation is a global diversified media and information services company focused on creating and distributing content to consumers and businesses throughout the world. The Company's operations are organized into five segments: News and Information Services; Book Publishing; Digital Real Estate Services; Cable Network Programming, and Other. The Company's News and Information Services segment consists primarily of Dow Jones, News Corp Australia (which includes News Limited and its subsidiaries), News UK, the New York Post and News America Marketing. Its Book Publishing segment consists of HarperCollins Publishers (together with its subsidiaries and affiliates, HarperCollins), which is a consumer book publisher. Its Digital Real Estate Services segment consists of its interest in REA Group Limited (REA Group), and its interest in Move, Inc. (Move). The Company's Cable Network Programming segment consists of FOX SPORTS Australia, a sports programming provider in Australia. _tck('aft');

FINANCIAL RATIOS  of  News Corp Cl A (NWSA)

Valuation Ratios
P/E Ratio -12.2
Price to Sales 1.1
Price to Book 0.8
Price to Tangible Book
Price to Cash Flow 18.2
Price to Free Cash Flow 37.7
Growth Rates
Sales Growth Rate -1.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate -6.5%
Financial Strength
Quick Ratio 20
Current Ratio 0
LT Debt to Equity 2.6%
Total Debt to Equity 3.5%
Interest Coverage 0
Management Effectiveness
Return On Assets -4.9%
Ret/ On Assets - 3 Yr. Avg. -1.6%
Return On Total Capital -6.4%
Ret/ On T. Cap. - 3 Yr. Avg. -2%
Return On Equity -6.6%
Return On Equity - 3 Yr. Avg. -2.1%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 44.4%
Gross Margin - 3 Yr. Avg. 43.1%
EBITDA Margin -2%
EBITDA Margin - 3 Yr. Avg. 6.2%
Operating Margin -7.6%
Oper. Margin - 3 Yr. Avg. 0.3%
Pre-Tax Margin -7.6%
Pre-Tax Margin - 3 Yr. Avg. 0.4%
Net Profit Margin -9.1%
Net Profit Margin - 3 Yr. Avg. -2.9%
Effective Tax Rate -4.6%
Eff/ Tax Rate - 3 Yr. Avg. -0.3%
Payout Ratio -20.6%

NWSA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NWSA stock intrinsic value calculation we used $8139 million for the last fiscal year's total revenue generated by News Corp Cl A. The default revenue input number comes from 2017 income statement of News Corp Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NWSA stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for NWSA is calculated based on our internal credit rating of News Corp Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of News Corp Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NWSA stock the variable cost ratio is equal to 97%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for NWSA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 12.1% for News Corp Cl A.

Corporate tax rate of 27% is the nominal tax rate for News Corp Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NWSA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NWSA are equal to 98.7%.

Life of production assets of 10 years is the average useful life of capital assets used in News Corp Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NWSA is equal to -2.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $10789 million for News Corp Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 582 million for News Corp Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of News Corp Cl A at the current share price and the inputted number of shares is $9.0 billion.

RELATED COMPANIES Price Int.Val. Rating
CBS CBS Cl B 58.83 38.14  sell
TGNA TEGNA 11.13 22.50  str.buy
NYT New York Times 25.80 6.70  str.sell
DIS Walt Disney 110.20 112.76  hold
BKS Barnes&Noble 5.35 4.12  hold
AMZN Amazon.com 1,822.49 1,290.53  hold
LEE Lee Enterprise 3.20 2.07  hold
NEWM New Media Inve 18.60 7.10  str.sell
TRNC tronc 17.09 20.78  buy

COMPANY NEWS

▶ Luxury Housing is Hot, Hot, Hot   [Jul-12-18 09:00AM  PR Newswire]
▶ [$$] Jeremy Hunt replaces Boris Johnson on the world stage   [Jul-09-18 06:19AM  Financial Times]
▶ With GE Gone, Its Time to Stop Covering the Dow Jones Index   [Jun-20-18 12:44PM  InvestorPlace]
▶ Breaking up the Murdoch empire: Who gets what   [Jun-13-18 04:41PM  Associated Press]
▶ News Drives Positive Results for Advertisers   [Jun-12-18 08:30AM  Business Wire]
▶ [$$] Matt Murray Named Editor in Chief of The Wall Street Journal   [Jun-06-18 03:23PM  The Wall Street Journal]
▶ WSJ replaces Gerard Baker with Matt Murray as editor   [Jun-05-18 06:04PM  Associated Press]
▶ [$$] News Corp Revenue Lifted by Real Estate and Book Units   [May-11-18 01:33PM  The Wall Street Journal]
▶ News Corp Stock Falls as Y2Y Loss Widens   [05:59PM  InvestorPlace]
▶ News Corp.: Fiscal 3Q Earnings Snapshot   [04:32PM  Associated Press]
▶ New Corp. earnings in line with estimates   [04:16PM  CNBC Videos]
▶ News Corp to Report Fiscal 2018 Third Quarter Earnings   [Apr-20-18 11:32AM  Business Wire]
▶ Fox News stands by Sean Hannity   [Apr-17-18 04:40PM  CNBC Videos]
▶ [$$] Fox bid for Sky deserves a swift and fair decision   [Apr-15-18 10:19PM  Financial Times]
▶ Cricket Australia bags billion-dollar rights deal   [Apr-13-18 03:49AM  Reuters]
▶ [$$] Watchdog to probe Trinity Mirror-Express merger   [Apr-11-18 02:37AM  Financial Times]
▶ March 2018 Home Prices Surpass 2017 High   [Apr-04-18 12:00PM  PR Newswire]
▶ Rising Rents Push Millennials to Become Homeowners   [Mar-30-18 09:00AM  PR Newswire]
▶ 7 Well-Known Stocks That Are Set to Reverse Direction   [Mar-26-18 02:18PM  TheStreet.com]
▶ Apple buys Next Issue Media   [Mar-12-18 02:06PM  American City Business Journals]
▶ [$$] Apple buys Texture, a Netflix for magazines app   [Mar-11-18 11:30PM  Financial Times]
▶ News Corporations (NASDAQ:NWS) Path To Profitability   [Mar-08-18 06:43PM  Simply Wall St.]
▶ [$$] News Corp, Telstra Agree to Combine Foxtel, Fox Sports Australia   [Mar-05-18 06:36PM  The Wall Street Journal]
Financial statements of NWSA
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.