Fox Corp (FOX) is undervalued and Liberty Media Corp (FWONA) is overvalued.
Against our estimates of intrinsic value, FOX trades at the wider discount: a margin of safety of +51%, against -149% for FWONA.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.7% (average of 3 methods) values the shares at $117.83; the price of $57.32 is 51% below that value, and 77% of that value comes from beyond year five.
Leak Score 77/100 on 8 of 12 signals
Discounting its cash flows at 8.9% (average of 3 methods) values the shares at $34.79; the price of $86.67 is 149% above that value, and 76% of that value comes from beyond year five.
Leak Score 36/100 on 8 of 12 signals
| Metric | FOX | FWONA |
|---|---|---|
| Verdict | Undervalued | Overvalued |
| Price | $57.32 | $86.67 |
| Intrinsic value | $117.83 | $34.79 |
| Margin of safety | +51% | -149% |
| Leak Score | 77/100 (8/12) | 36/100 (8/12) |
| Market cap | $25.5B | $23.6B |
| Revenue growth, 5 years | 5.8% | 31.4% |
| Operating margin | 20.4% | 12.4% |
| Net margin | 9.8% | 9.4% |
| Return on equity | 14.3% | 5.8% |
| Debt to equity | 0.65 | 0.65 |
| P/E | 14.9x | 53.6x |
| Forward P/E | 9.8x | 39.2x |
| P/B | 2.1x | 2.9x |
| Dividend yield | 1.0% | — |