News
NWSANASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $26.61 Prior regular-session close from the quote source.
- $26.51–$26.88 Regular-session low and high so far today.
- 3.8M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 4 projected Projected for 2027-02-04 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $22.20–$31.66 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own NWSA if subscription/advertising monetization and pricing power in Dow Jones and Digital Real Estate offset cyclical News Media and trade publishing volatility.
NWSA price history
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Investment thesis
What must happen next
Network effects and buyer dependence in REA and Move will sustain above-company-average revenue growth and high-margin monetization for digital real-estate services, making them the primary durable growth engine.HoldingMateriality: High
Consolidated revenue increased from 8,452,000,000 (FY2025) to 9,028,000,000 (FY2026), showing company-level top-line growth that can be driven by stronger real-estate segments. If REA/Move continue to convert user scale into ARPU and ad spend, consolidated revenue and free-cash generation will keep rising and justify the premium multiple; if they lose pricing power or housing activity collapses, consolidated growth will falter.
Watch: A sustained U.S. or Australian housing-market downturn that materially reduces listings and agent ad spend (housing-cycle driven demand shock).
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Consolidated revenue increased from 8,452,000,000 (FY2025) to 9,028,000,000 (FY2026), showing company-level top-line growth that can be driven by stronger real-estate.
Open source ↗Dow Jones' enterprise information and compliance products (Risk Compliance, Factiva, OPIS) provide durable, subscription-like pricing power that stabilizes cash flow and margins even when advertising markets are weak.StrengtheningMateriality: High
Operating cash flow grew from 978,000,000 (FY2025) to 1,237,000,000 (FY2026), consistent with stronger recurring cash conversion. If enterprise subscriptions and benchmarks remain valued for compliance and trading use, News Corp's operating cash will stay predictable, supporting buybacks and valuations; if customers commoditize or switch vendors, cash volatility will rise and valuation will compress.
Watch: Price erosion or enterprise downgrades to lower-cost competitors like Refinitiv/Bloomberg or open/free data sources reducing renewal pricing.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating cash flow grew from 978,000,000 (FY2025) to 1,237,000,000 (FY2026), consistent with stronger recurring cash conversion.
Open source ↗HarperCollins' large backlist, rights and portfolio of imprints produces predictable, low-capex cashflows that cushion consolidated margins despite cyclical bestseller timing.HoldingMateriality: Medium
Multi-year increase in operating cash flow (777,000,000 FY2023 -> 897,000,000 FY2024 -> 978,000,000 FY2025 -> 1,237,000,000 FY2026) implies steady cash generation across segments including publishing. A resilient publishing backlist smooths revenue swings from hit-driven new releases and supports cash conversion; if publishing transitions more rapidly to lower-margin digital players or loses licensing channels, volatility will rise and margins fall.
Watch: Structural shift in reader behavior or a rapid move to direct-to-consumer/streaming licensing that compresses publisher margins and reduces third-party distribution revenue.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Multi-year increase in operating cash flow (777,000,000 FY2023 -> 897,000,000 FY2024 -> 978,000,000 FY2025 -> 1,237,000,000 FY2026) implies steady cash.
Open source ↗News Corp’s cash and equity base gives management flexibility to return capital (buybacks/dividends) or make strategic tuck-in acquisitions that can compound per-share value.StrengtheningMateriality: Medium
Cash and cash equivalents were 2,095,000,000 as of 2026-06-30 (Item: CashAndCashEquivalentsAtCarryingValue). If cash and balance-sheet strength are preserved, management can deploy capital to lift EPS and justify the multiple; if cash is consumed by litigation, large acquisitions or operating deterioration, ability to return capital falls and per-share value weakens.
Watch: A large settlement or judgment linked to UK Newspaper Matters drawing significantly on cash or forcing debt-funded payouts.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash and cash equivalents were 2,095,000,000 as of 2026-06-30 (Item: CashAndCashEquivalentsAtCarryingValue).
Open source ↗The market’s premium multiple is contingent on a visible stabilization and recovery in GAAP EPS — absent durable EPS improvement (or credible sustained buybacks), the stock is likely to de-rate.StrengtheningMateriality: Medium
Diluted EPS fell from 2.07 (FY2025) to 1.03 (FY2026), showing substantial earnings volatility that must be reversed to justify a high multiple. EPS is the market’s clearest short-term signal; recent EPS halving suggests earnings volatility. If EPS does not recover, the current PE (~32.5) will be judged too rich and the share price will fall even if revenue grows modestly.
Watch: Management enacts material buybacks that reduce shares outstanding and boost EPS without operational improvement (would mask underlying weakness).
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Diluted EPS fell from 2.07 (FY2025) to 1.03 (FY2026), showing substantial earnings volatility that must be reversed to justify a.
Open source ↗
Full investment case & evidence
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Original research
Network effects and buyer dependence in REA and Move will sustain above-company-average revenue growth and high-margin monetization for digital real-estate services, making them the primary durable growth engine. If REA/Move continue to convert user scale into ARPU and ad spend, consolidated revenue and free-cash generation will keep rising and justify the premium multiple; if they lose pricing power or housing activity collapses, consolidated growth will falter.
Dow Jones' enterprise information and compliance products (Risk Compliance, Factiva, OPIS) provide durable, subscription-like pricing power that stabilizes cash flow and margins even when advertising markets are weak. If enterprise subscriptions and benchmarks remain valued for compliance and trading use, News Corp's operating cash will stay predictable, supporting buybacks and valuations; if customers commoditize or switch vendors, cash volatility will rise and valuation will compress.
HarperCollins' large backlist, rights and portfolio of imprints produces predictable, low-capex cashflows that cushion consolidated margins despite cyclical bestseller timing. A resilient publishing backlist smooths revenue swings from hit-driven new releases and supports cash conversion; if publishing transitions more rapidly to lower-margin digital players or loses licensing channels, volatility will rise and margins fall.
News Corp’s cash and equity base gives management flexibility to return capital (buybacks/dividends) or make strategic tuck-in acquisitions that can compound per-share value. If cash and balance-sheet strength are preserved, management can deploy capital to lift EPS and justify the multiple; if cash is consumed by litigation, large acquisitions or operating deterioration, ability to return capital falls and per-share value weakens.
The market’s premium multiple is contingent on a visible stabilization and recovery in GAAP EPS — absent durable EPS improvement (or credible sustained buybacks), the stock is likely to de-rate. EPS is the market’s clearest short-term signal; recent EPS halving suggests earnings volatility. If EPS does not recover, the current PE (~32.5) will be judged too rich and the share price will fall even if revenue grows modestly.
All standing thesis claims
Original report summary
subscription/advertising monetization and pricing power in Dow Jones and Digital Real Estate offset cyclical News Media and trade publishing volatility.
Bull case and bear case
Bull case and bear case for News
Where the evidence on News stands: Holding on the latest evidence (Nov 8, 2026). Of its 5 thesis points, 3 strengthening and 2 holding.
Bull case: what the evidence supports
Network effects and buyer dependence in REA and Move will sustain above-company-average revenue growth and high-margin monetization for digital real-estate services, making them the primary durable growth engine.
Dow Jones' enterprise information and compliance products (Risk Compliance, Factiva, OPIS) provide durable, subscription-like pricing power that stabilizes cash flow and margins even when advertising markets are weak.
HarperCollins' large backlist, rights and portfolio of imprints produces predictable, low-capex cashflows that cushion consolidated margins despite cyclical bestseller timing.
News Corp’s cash and equity base gives management flexibility to return capital (buybacks/dividends) or make strategic tuck-in acquisitions that can compound per-share value.
The market’s premium multiple is contingent on a visible stabilization and recovery in GAAP EPS — absent durable EPS improvement (or credible sustained buybacks), the stock is likely to de-rate.
Bear case: what would count against it
A sustained U.S. or Australian housing-market downturn that materially reduces listings and agent ad spend (housing-cycle driven demand shock).
Price erosion or enterprise downgrades to lower-cost competitors like Refinitiv/Bloomberg or open/free data sources reducing renewal pricing.
Structural shift in reader behavior or a rapid move to direct-to-consumer/streaming licensing that compresses publisher margins and reduces third-party distribution revenue.
Thesis-Break Engine
Thesis-break watch · News
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedOther material event.
News filed an SEC 8-K on 2026-11-06: Other material event. It is a dated development that tests the current thesis.
- MixedRegulation FD disclosure.
News filed an SEC 8-K on 2026-11-05: Regulation FD disclosure. It is a dated development that tests the current thesis.
- MixedOther material event.
News filed an SEC 8-K on 2026-11-05: Other material event. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- A sustained U.S. or Australian housing-market downturn that materially reduces listings and agent ad spend (housing-cycle driven demand shock).
- Price erosion or enterprise downgrades to lower-cost competitors like Refinitiv/Bloomberg or open/free data sources reducing renewal pricing.
- Structural shift in reader behavior or a rapid move to direct-to-consumer/streaming licensing that compresses publisher margins and reduces third-party distribution revenue.
- A large settlement or judgment linked to UK Newspaper Matters drawing significantly on cash or forcing debt-funded payouts.
- Management enacts material buybacks that reduce shares outstanding and boost EPS without operational improvement (would mask underlying weakness).
NWSA news
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Financial statements
NWSA income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
NWSA: quick answers
- When does News (NWSA) report earnings next?
- News's next results are projected for February 4, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 4, 2026. Earnings calendar
- What is NWSA's short interest?
- As of October 30, 2026, 9.8M NWSA shares were sold short, down 11.4% from the count before. At the stock's average daily volume that is 3.1 days to cover. FINRA publishes the count twice a month. NWSA short interest history
- Have members of Congress traded NWSA?
- 16 trades in NWSA have been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed NWSA trade
- Which well-known investors own NWSA?
- 1 of the 37 well-known funds tracked here reported NWSA shares in their latest 13F filing. By share of the fund's portfolio: Starboard Value (Jeff Smith), 1.1%. Fund portfolios
NWSA in well-known investors’ portfolios
1 of 37 funds reported NWSA shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Jeff SmithStarboard Value | 1.1% | $50.7M | −63.6% | Q2 2026 |