FOXA
Fox Corporation
$62.41
Stable Earnings Power
65%
P/Adj-EPS × Normalized Multiple
Mild
·
Conviction
Overvalued
Trading 8.4% above fair value
You pay
$62.41
Bear
$46.08
Fair
$57.60
Bull
$69.12
Bear
$46.08
-26.2%
$3.84 × 12x P/E
Fair
$57.60
-7.7%
$3.84 × 15x P/E
Bull
$69.12
+10.8%
$3.84 × 18x P/E
Adjust Assumptions
15.0x
3.84$
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
16.3x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (48 analysts)
$72.00
Divergence from AlphaVal
20%
Summary
Applying a 15x P/E to adjusted EPS of $3.84, the base-case value is $57.60 per share.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples