NEWS CORP (NWSA) — payout ratio, three ways
Fiscal year ending 2026-06-30 · sector Communications · payout ratios computed from SEC filings, not taken from a data vendor.
| Basis | Payout | Why it differs |
|---|---|---|
| GAAP earnings | 35.5% | The figure most screeners publish. |
| Operating cash flow | 16.5% | Before capital spending, so it understates the payout that free cash flow shows. |
| Free cash flow | 25.2% | What is left after maintaining the business. |
Spread between highest and lowest: 19 percentage points. Same filings, different denominators.
Coverage rating 58 / 100 — Tight. ? Peer standing 24/50Direction 18/30Stability 15/20
Free cash flow payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2026-06-30 | 25.2% |
| 2025-06-30 | 32.4% |
| 2024-06-30 | 23.2% |
| 2023-06-30 | 23.4% |
| 2022-06-30 | 20.5% |
| 2021-06-30 | 19.2% |
Among the 27 communications companies here, 48% pay out a larger share on this basis.
The arithmetic
- GAAP earnings — dividends declared per share $0.37 ÷ diluted EPS $1.03
- Operating cash flow — dividends paid $204.0m ÷ operating cash flow $1,237.0m
- Free cash flow — dividends paid $204.0m ÷ (operating cash flow $1,237.0m − capex $426.0m)
Where the figures came from
- 10-K filed 2026-08-07 · accession
0001564708-26-000175
Every one is public at sec.gov and free to check. That is the point — you should not have to take my word for any of it.
Caveats on this company
- DPS derived from dividends paid ($0.37); no per-share tag filed
Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell me — that is more useful to me than agreement.